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Fair Value Measurements - Not Measured at Fair Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Assets, not measured at fair value      
Cash and equivalents $ 1,037,378 $ 967,079 $ 465,671
Cash and equivalents segregated under federal or other regulations 1,792,064 1,597,249 2,007,312
Restricted cash 225,298 119,724 $ 108,180
Receivables from clients, net 803,206 633,834  
Receivables from brokers, dealers and clearing organizations 70,897 76,545  
Advisor loans, net 3,681,512 2,281,088  
Other receivables, net 1,203,539 902,777  
Investment securities - held-to-maturity securities 15,420 15,214  
Other assets 2,202,444 1,815,739  
Liabilities, not measured at fair value      
Client payables 2,308,275 1,898,665  
Payables to brokers, dealers and clearing organizations 150,520 129,228  
Corporate debt and other borrowings, net 7,258,694 5,494,724  
Financial instruments not measured at fair value      
Assets, not measured at fair value      
Cash and equivalents 933,001 913,407  
Cash and equivalents segregated under federal or other regulations 970,730 925,085  
Restricted cash 97,713 19,356  
Receivables from clients, net 803,206 633,834  
Receivables from brokers, dealers and clearing organizations 70,897 76,545  
Advisor loans, net   360,760  
Other receivables, net 1,203,539 902,777  
Investment securities - held-to-maturity securities 15,420 15,214  
Other assets 19,701 21,259  
Liabilities, not measured at fair value      
Client payables 2,308,275 1,898,665  
Payables to brokers, dealers and clearing organizations 150,520 129,228  
Corporate debt and other borrowings, net 7,258,694 5,494,724  
Financial instruments not measured at fair value | Other investments      
Assets, not measured at fair value      
Other assets 7,874 7,706  
Financial instruments not measured at fair value | Securities borrowed      
Assets, not measured at fair value      
Other assets 10,038 8,742  
Financial instruments not measured at fair value | Deferred compensation plan      
Liabilities, not measured at fair value      
Other assets 1,789 4,811  
Financial instruments not measured at fair value | Total Fair Value      
Assets, not measured at fair value      
Cash and equivalents 933,001 913,407  
Cash and equivalents segregated under federal or other regulations 970,730 925,085  
Restricted cash 97,713 19,356  
Receivables from clients, net 803,206 633,834  
Receivables from brokers, dealers and clearing organizations 70,897 76,545  
Advisor loans, net 335,050 281,146  
Other receivables, net 1,203,539 902,777  
Investment securities - held-to-maturity securities 15,520 15,190  
Other assets 19,701 21,259  
Liabilities, not measured at fair value      
Client payables 2,308,275 1,898,665  
Payables to brokers, dealers and clearing organizations 150,520 129,228  
Corporate debt and other borrowings, net 7,420,447 5,480,389  
Financial instruments not measured at fair value | Total Fair Value | Other investments      
Assets, not measured at fair value      
Other assets 7,874 7,706  
Financial instruments not measured at fair value | Total Fair Value | Securities borrowed      
Assets, not measured at fair value      
Other assets 1,789 4,811  
Financial instruments not measured at fair value | Total Fair Value | Deferred compensation plan      
Assets, not measured at fair value      
Other assets 10,038 8,742  
Financial instruments not measured at fair value | Level 1      
Assets, not measured at fair value      
Cash and equivalents 933,001 913,407  
Cash and equivalents segregated under federal or other regulations 970,730 925,085  
Restricted cash 97,713 19,356  
Receivables from clients, net 0 0  
Receivables from brokers, dealers and clearing organizations 0 0  
Advisor loans, net 0 0  
Other receivables, net 0 0  
Investment securities - held-to-maturity securities 0 0  
Other assets 10,038 8,742  
Liabilities, not measured at fair value      
Client payables 0 0  
Payables to brokers, dealers and clearing organizations 0 0  
Corporate debt and other borrowings, net 0 0  
Financial instruments not measured at fair value | Level 1 | Other investments      
Assets, not measured at fair value      
Other assets 0 0  
Financial instruments not measured at fair value | Level 1 | Securities borrowed      
Assets, not measured at fair value      
Other assets 0 0  
Financial instruments not measured at fair value | Level 1 | Deferred compensation plan      
Assets, not measured at fair value      
Other assets 10,038 8,742  
Financial instruments not measured at fair value | Level 2      
Assets, not measured at fair value      
Cash and equivalents 0 0  
Cash and equivalents segregated under federal or other regulations 0 0  
Restricted cash 0 0  
Receivables from clients, net 803,206 633,834  
Receivables from brokers, dealers and clearing organizations 70,897 76,545  
Advisor loans, net 0 0  
Other receivables, net 1,203,539 902,777  
Investment securities - held-to-maturity securities 15,520 15,190  
Other assets 9,663 12,517  
Liabilities, not measured at fair value      
Client payables 2,308,275 1,898,665  
Payables to brokers, dealers and clearing organizations 150,520 129,228  
Corporate debt and other borrowings, net 7,420,447 5,480,389  
Financial instruments not measured at fair value | Level 2 | Other investments      
Assets, not measured at fair value      
Other assets 7,874 7,706  
Financial instruments not measured at fair value | Level 2 | Securities borrowed      
Assets, not measured at fair value      
Other assets 1,789 4,811  
Financial instruments not measured at fair value | Level 2 | Deferred compensation plan      
Assets, not measured at fair value      
Other assets 0 0  
Financial instruments not measured at fair value | Level 3      
Assets, not measured at fair value      
Cash and equivalents 0 0  
Cash and equivalents segregated under federal or other regulations 0 0  
Restricted cash 0 0  
Receivables from clients, net 0 0  
Receivables from brokers, dealers and clearing organizations 0 0  
Advisor loans, net 335,050 281,146  
Other receivables, net 0 0  
Investment securities - held-to-maturity securities 0 0  
Other assets 0 0  
Liabilities, not measured at fair value      
Client payables 0 0  
Payables to brokers, dealers and clearing organizations 0 0  
Corporate debt and other borrowings, net 0 0  
Financial instruments not measured at fair value | Level 3 | Other investments      
Assets, not measured at fair value      
Other assets 0 0  
Financial instruments not measured at fair value | Level 3 | Securities borrowed      
Assets, not measured at fair value      
Other assets 0 0  
Financial instruments not measured at fair value | Level 3 | Deferred compensation plan      
Assets, not measured at fair value      
Other assets $ 0 $ 0