v3.25.4

Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023
Segment Reporting Information [Line Items] |  |  |
Net commissions and fees | $ 2,994,582 | $ 2,455,671 | $ 2,026,596
Fiduciary investment income | 56,544 | 60,039 | 50,953
Total revenue | 3,051,126 | 2,515,710 | 2,077,549
General and administrative | 453,452 | 352,050 | 276,181
Change in contingent consideration | 13,122 | (22,859) | 5,421
Interest income | (7,600) | (21,500) | (32,000)
Income from equity method investments | (21,236) | (18,231) | (8,731)
Other non-operating loss (income) | (692) | 15,041 | 10,380
Income tax expense | 79,027 | 42,641 | 43,445
NET INCOME | 214,157 | 229,913 | 194,480
Operating And Reporting Segment |  |  |
Segment Reporting Information [Line Items] |  |  |
Net commissions and fees | 2,994,582 | 2,455,671 | 2,026,596
Fiduciary investment income | 56,544 | 60,039 | 50,953
Total revenue | 3,051,126 | 2,515,710 | 2,077,549
Compensation-related expense | 1,692,000 | 1,426,674 | 1,222,342
General and administrative | 392,384 | 277,813 | 230,467
Other segment items | 172,465 | 238,640 | 144,401
Depreciation and amortization | 287,515 | 167,630 | 115,837
Change in contingent consideration | 13,122 | (22,859) | 5,421
Interest income | (7,649) | (21,509) | (31,986)
Interest expense | 230,033 | 179,957 | 151,493
Income from equity method investments | (21,236) | (18,231) | (8,731)
Other non-operating loss (income) | (692) | 15,041 | 10,380
Income tax expense | $ 79,027 | $ 42,641 | $ 43,445

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