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Revenue | 9 Months Ended
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Sep. 30, 2019
Revenue from Contract with Customer [Abstract] |
Revenue from Contract with Customer [Text Block] | Revenue The following table presents revenue recognized by the Company for the three and nine months ended September 30, 2019 and 2018:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Investment Banking: |  |  |  |  |  |  |
Advisory Fees | $ | 320,885 |  |  | $ | 305,949 |  |  | $ | 1,090,309 |  |  | $ | 1,047,259 |
Underwriting Fees | 17,598 |  |  | 11,440 |  |  | 61,428 |  |  | 62,784 |
Commissions and Related Fees | 46,820 |  |  | 45,337 |  |  | 137,417 |  |  | 139,447 |
Total Investment Banking | $ | 385,303 |  |  | $ | 362,726 |  |  | $ | 1,289,154 |  |  | $ | 1,249,490 |
Investment Management: |  |  |  |  |  |  |
Asset Management and Administration Fees: |  |  |  |  |  |  |
Wealth Management | $ | 12,155 |  |  | $ | 11,560 |  |  | $ | 35,408 |  |  | $ | 33,826 |
Institutional Asset Management | 495 |  |  | 1,118 |  |  | 2,044 |  |  | 2,777 |
Total Investment Management | $ | 12,650 |  |  | $ | 12,678 |  |  | $ | 37,452 |  |  | $ | 36,603 |
Contract Balances The change in the Company’s contract assets and liabilities during the periods primarily reflects timing differences between the Company’s performance and the client’s payment. The Company’s receivables, contract assets and deferred revenue (contract liabilities) for the nine months ended September 30, 2019 and 2018 are as follows:
| For the Nine Months Ended September 30, 2019
| Receivables (Current)(1) |  | Receivables (Long-term)(2) |  | Contract Assets (Current)(3) |  | Contract Assets (Long-term)(4) |  | Deferred Revenue (Current Contract Liabilities)(5) |  | Deferred Revenue (Long-term Contract Liabilities)(6)
Balance at January 1, 2019 | $ | 309,075 |  |  | $ | 60,948 |  |  | $ | 2,833 |  |  | $ | 541 |  |  | $ | 4,016 |  |  | $ | 1,731 |
Increase (Decrease) | (3,403 | ) |  | 3,628 |  |  | (1,799 | ) |  | 1,787 |  |  | 912 |  |  | (1,116 | )
Balance at September 30, 2019 | $ | 305,672 |  |  | $ | 64,576 |  |  | $ | 1,034 |  |  | $ | 2,328 |  |  | $ | 4,928 |  |  | $ | 615 |
| For the Nine Months Ended September 30, 2018
| Receivables (Current)(1) |  | Receivables (Long-term)(2) |  | Contract Assets (Current)(3) |  | Contract Assets (Long-term)(4) |  | Deferred Revenue (Current Contract Liabilities)(5) |  | Deferred Revenue (Long-term Contract Liabilities)(6)
Balance at January 1, 2018 | $ | 184,993 |  |  | $ | 34,008 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,147 |  |  | $ | 1,834 |
Increase (Decrease) | 47,263 |  |  | 19,728 |  |  | 46,960 |  |  | 3,869 |  |  | 7,011 |  |  | (103 | )
Balance at September 30, 2018 | $ | 232,256 |  |  | $ | 53,736 |  |  | $ | 46,960 |  |  | $ | 3,869 |  |  | $ | 10,158 |  |  | $ | 1,731 |
(1) | Included in Accounts Receivable on the Unaudited Condensed Consolidated Statements of Financial Condition.
(2) | Included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.
(3) | Included in Other Current Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.
(4) | Included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.
(5) | Included in Other Current Liabilities on the Unaudited Condensed Consolidated Statements of Financial Condition.
(6) | Included in Other Long-term Liabilities on the Unaudited Condensed Consolidated Statements of Financial Condition.
The Company recognized revenue of $3,377 and $10,870 on the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2019, respectively, and $3,740 and $8,984 for the three and nine months ended September 30, 2018, respectively, that was previously included in deferred revenue on the Company’s Unaudited Condensed Consolidated Statements of Financial Condition. Generally, performance obligations under client arrangements will be settled within one year; therefore, the Company has elected to apply the practical expedient in ASC 606-10-50-14.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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