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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLES, NET During the year ended December 31, 2025, the Company completed various acquisitions, which were accounted for under the acquisition method of accounting for business combinations and as asset acquisitions, and recorded purchase accounting adjustments. See Note 4 - Acquisitions, for additional information. A summary of the activity impacting goodwill is presented below (in thousands):
Balance at December 31, 2023 | $ | 1,856,648 |
Goodwill acquired | 333,205 |
Purchase accounting adjustments | (16,980) |
Balance at December 31, 2024 | 2,172,873 |
Goodwill acquired | 497,885 |
Purchase accounting adjustments | (26,035) |
Balance at December 31, 2025 | $ | 2,644,723 |
The components of other intangibles, net were as follows at December 31, 2025 (thousands):
| Weighted-Average Life Remaining (in years) | Gross Carrying Value | Accumulated Amortization | Net Carrying Value
Definite-lived intangibles, net(1): |  |  |  |
Advisor and institution relationships | 13.6 | $ | 3,350,706 |  | $ | (859,100) |  | $ | 2,491,606 |
Client relationships | 12.3 | 909,868 |  | (143,039) |  | 766,829 |
Trade name | 15.6 | 26,000 |  | (677) |  | 25,323 |
Technology | 3.0 | 20,930 |  | (15,443) |  | 5,487 |
Product sponsor relationships | 1.2 | 234,086 |  | (232,362) |  | 1,724 |
Total definite-lived intangible assets, net |  | $ | 4,541,590 |  | $ | (1,250,621) |  | $ | 3,290,969 |
Other indefinite-lived intangibles: |  |  |  |
Trademark and trade name |  |  |  | 39,819 |
Total other intangibles, net |  |  |  | $ | 3,330,788 |
____________________ (1) During the year ended December 31, 2025, the Company completed various acquisitions. See Note 4 - Acquisitions, for additional information. The components of other intangibles, net were as follows at December 31, 2024 (thousands):
| Weighted-Average Life Remaining (in years) | Gross Carrying Value | Accumulated Amortization | Net Carrying Value
Definite-lived intangibles, net(1): |  |  |  |
Advisor and institution relationships | 13.4 | $ | 1,626,281 |  | $ | (699,385) |  | $ | 926,896 |
Client relationships | 12.7 | 581,519 |  | (86,292) |  | 495,227 |
Product sponsor relationships | 1.3 | 234,086 |  | (220,880) |  | 13,206 |
Technology | 7.6 | 20,930 |  | (13,090) |  | 7,840 |
Total definite-lived intangibles, net |  | $ | 2,462,816 |  | $ | (1,019,647) |  | $ | 1,443,169 |
Other indefinite-lived intangibles: |  |  |  |
Trademark and trade name |  |  |  | 39,819 |
Total other intangibles, net |  |  |  | $ | 1,482,988 |
____________________ (1)During the year ended December 31, 2024, t he Company completed various acquisitions. See Note 4 - Acquisitions, for additional information. Total amortization of other intangibles was $236.6 million, $135.2 million and $107.2 million for the years ended December 31, 2025, 2024 and 2023, respectively. Future amortization is estimated as follows (in thousands):
2026 | $ | 260,211 |
2027 | 256,453 |
2028 | 254,756 |
2029 | 247,915 |
2030 | 245,920 |
Thereafter | 2,025,714 |
Total | $ | 3,290,969 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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