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Revenue (Tables)
 12 Months Ended
Dec. 31, 2025
Disaggregation of Revenue [Line Items]  
Disaggregation of Revenue - Reporting Category [Table Text Block]
The following table presents total commission revenue disaggregated by product category (in thousands):
Years Ended December 31,
202520242023
Commission revenue
Annuities$2,679,752 $1,949,343 $1,482,690 
Mutual funds986,441 799,952 666,942 
Fixed income256,520 216,872 154,177 
Equities202,984 152,500 110,698 
Other379,375 186,820 138,116 
Total commission revenue    
$4,505,072 $3,305,487 $2,552,623 
Disaggregation of Revenue - Reporting Category & Timing of Transfer of Good or Service [Table Text Block]
The following table presents sales-based and trailing commission revenue disaggregated by product category (in thousands):
Years Ended December 31,
202520242023
Commission revenue
Sales-based
Annuities
$1,633,309 $1,069,811 $739,760 
Fixed income
256,520 216,872 154,177 
Mutual funds
220,251 181,695 145,642 
Equities
202,984 152,500 110,698 
Other
332,849 142,354 102,506 
Total sales-based revenue
$2,645,913 $1,763,232 $1,252,783 
Trailing
Annuities
$1,046,443 $879,532 $742,930 
Mutual funds
766,190 618,257 521,300 
Other
46,526 44,466 35,610 
Total trailing revenue
$1,859,159 $1,542,255 $1,299,840 
Total commission revenue
$4,505,072 $3,305,487 $2,552,623 
Disaggregation of Revenue - Product and Service [Table Text Block]
The following table sets forth asset-based revenue disaggregated by product category (in thousands):
Years Ended December 31,
202520242023
Asset-based revenue
Client cash
$1,657,807 $1,426,528 $1,509,869 
Sponsorship programs
776,749 585,785 452,753 
Recordkeeping561,377 485,385 415,107 
Total asset-based revenue$2,995,933 $2,497,698 $2,377,729 
Disaggregation of Revenue - Timing of Transfer of Good or Service [Table Text Block]
The following table sets forth service and fee revenue disaggregated by recognition pattern (in thousands):
Years Ended December 31,
202520242023
Service and fee revenue
Over time(1)
$463,562 $420,470 $387,763 
Point-in-time(2)
188,833 131,550 120,674 
Total service and fee revenue$652,395 $552,020 $508,437 
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(1)Service and fee revenue recognized over time includes revenue such as IRA custodian fees, error and omission insurance fees and technology fees.
(2)Service and fee revenue recognized at a point-in-time includes revenue such as account fees, IRA termination fees and registration fees.