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Revenues from Contracts with Customers (Tables) | 9 Months Ended
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Sep. 30, 2021
Revenue From Contract With Customer [Abstract] |
Schedule of Total Revenues Broken Out by Revenues from Contracts with Customers and Other Sources of Revenues | The following table presents the Company’s total revenues broken out by revenues from contracts with customers and other sources of revenues for the three and nine months ended September 30, 2021 and 2020 (in thousands):
|  | Three Months Ended September 30, |
|  | 2021 |  |  | 2020 |
Revenues from contracts with customers: |  |  |  |  |  |  |  |
Commissions |  | $ | 189,239 |  |  | $ | 172,654 |
Investment banking |  |  | 372,279 |  |  |  | 218,134 |
Asset management and service fees |  |  | 313,862 |  |  |  | 230,782 |
Other |  |  | 5,092 |  |  |  | 15,329 |
Total revenue from contracts with customers |  |  | 880,472 |  |  |  | 636,899 |
Other sources of revenue: |  |  |  |  |  |  |  |
Interest |  |  | 141,844 |  |  |  | 114,411 |
Principal transactions |  |  | 118,977 |  |  |  | 140,883 |
Other |  |  | 13,668 |  |  |  | 4,929 |
Total revenues |  | $ | 1,154,961 |  |  | $ | 897,122 |
|  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |
Revenues from contracts with customers: |  |  |  |  |  |  |  |
Commissions |  | $ | 598,432 |  |  | $ | 560,780 |
Investment banking |  |  | 1,088,010 |  |  |  | 614,637 |
Asset management and service fees |  |  | 887,878 |  |  |  | 667,496 |
Other |  |  | 30,331 |  |  |  | 32,408 |
Total revenue from contracts with customers |  |  | 2,604,651 |  |  |  | 1,875,321 |
Other sources of revenue: |  |  |  |  |  |  |  |
Interest |  |  | 402,975 |  |  |  | 403,956 |
Principal transactions |  |  | 436,580 |  |  |  | 445,566 |
Other |  |  | 27,298 |  |  |  | 18,571 |
Total revenues |  | $ | 3,471,504 |  |  | $ | 2,743,414 |
Revenues from Contracts with Customers Disaggregated by Major Business Activity and Primary Geographic Regions | The following tables present the Company’s revenues from contracts with customers by reportable segment disaggregated by major business activity and primary geographic regions for the three and nine months ended September 30, 2021 and 2020 (in thousands):
|  | Three Months Ended September 30, 2021 (1) |
|  | Global Wealth Management |  |  | Institutional Group |  |  | Other |  |  | Total |
Major business activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | 133,998 |  |  | $ | 55,241 |  |  | $ | — |  |  | $ | 189,239 |
Capital raising |  |  | 11,580 |  |  |  | 152,481 |  |  |  | — |  |  |  | 164,061 |
Advisory fees |  |  | — |  |  |  | 208,218 |  |  |  | — |  |  |  | 208,218 |
Investment banking |  |  | 11,580 |  |  |  | 360,699 |  |  |  | — |  |  |  | 372,279 |
Asset management |  |  | 313,838 |  |  |  | 24 |  |  |  | — |  |  |  | 313,862 |
Other |  |  | 5,206 |  |  |  | — |  |  |  | (114 | ) |  |  | 5,092 |
Total |  |  | 464,622 |  |  |  | 415,964 |  |  |  | (114 | ) |  |  | 880,472 |
Primary Geographic Region: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  |  | 464,622 |  |  |  | 348,087 |  |  |  | (114 | ) |  |  | 812,595 |
United Kingdom |  |  | — |  |  |  | 46,267 |  |  |  | — |  |  |  | 46,267 |
Canada |  |  | — |  |  |  | 13,088 |  |  |  | — |  |  |  | 13,088 |
Other |  |  | — |  |  |  | 8,522 |  |  |  | — |  |  |  | 8,522 |
|  | $ | 464,622 |  |  | $ | 415,964 |  |  | $ | (114 | ) |  | $ | 880,472 |
|  | Three Months Ended September 30, 2020 (1) |
|  | Global Wealth Management |  |  | Institutional Group |  |  | Other |  |  | Total |
Major business activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | 120,600 |  |  | $ | 52,054 |  |  | $ | — |  |  | $ | 172,654 |
Capital raising |  |  | 8,113 |  |  |  | 129,179 |  |  |  | — |  |  |  | 137,292 |
Advisory fees |  |  | — |  |  |  | 80,842 |  |  |  | — |  |  |  | 80,842 |
Investment banking |  |  | 8,113 |  |  |  | 210,021 |  |  |  | — |  |  |  | 218,134 |
Asset management |  |  | 230,765 |  |  |  | 17 |  |  |  | — |  |  |  | 230,782 |
Other |  |  | 14,535 |  |  |  | — |  |  |  | 794 |  |  |  | 15,329 |
Total |  |  | 374,013 |  |  |  | 262,092 |  |  |  | 794 |  |  |  | 636,899 |
Primary Geographic Region: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  |  | 374,013 |  |  |  | 209,141 |  |  |  | 794 |  |  |  | 583,948 |
United Kingdom |  |  | — |  |  |  | 30,959 |  |  |  | — |  |  |  | 30,959 |
Canada |  |  | — |  |  |  | 11,133 |  |  |  | — |  |  |  | 11,133 |
Other |  |  | — |  |  |  | 10,859 |  |  |  | — |  |  |  | 10,859 |
|  | $ | 374,013 |  |  | $ | 262,092 |  |  | $ | 794 |  |  | $ | 636,899 |
(1) Excludes revenues not derived from contracts with customers included in the Other segment.
|  | Nine Months Ended September 30, 2021 (1) |
|  | Global Wealth Management |  |  | Institutional Group |  |  | Other |  |  | Total |
Major business activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | 421,156 |  |  | $ | 177,276 |  |  | $ | — |  |  | $ | 598,432 |
Capital raising |  |  | 37,027 |  |  |  | 505,618 |  |  |  | — |  |  |  | 542,645 |
Advisory fees |  |  | — |  |  |  | 545,365 |  |  |  | — |  |  |  | 545,365 |
Investment banking |  |  | 37,027 |  |  |  | 1,050,983 |  |  |  | — |  |  |  | 1,088,010 |
Asset management |  |  | 887,794 |  |  |  | 84 |  |  |  | — |  |  |  | 887,878 |
Other |  |  | 28,552 |  |  |  | — |  |  |  | 1,779 |  |  |  | 30,331 |
Total |  |  | 1,374,529 |  |  |  | 1,228,343 |  |  |  | 1,779 |  |  |  | 2,604,651 |
Primary Geographic Region: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  |  | 1,374,529 |  |  |  | 996,429 |  |  |  | 1,779 |  |  |  | 2,372,737 |
United Kingdom |  |  | — |  |  |  | 137,482 |  |  |  | — |  |  |  | 137,482 |
Canada |  |  | — |  |  |  | 64,145 |  |  |  | — |  |  |  | 64,145 |
Other |  |  | — |  |  |  | 30,287 |  |  |  | — |  |  |  | 30,287 |
|  | $ | 1,374,529 |  |  | $ | 1,228,343 |  |  | $ | 1,779 |  |  | $ | 2,604,651 |
|  | Nine Months Ended September 30, 2020 (1) |
|  | Global Wealth Management |  |  | Institutional Group |  |  | Other |  |  | Total |
Major business activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | 373,653 |  |  | $ | 187,127 |  |  | $ | — |  |  | $ | 560,780 |
Capital raising |  |  | 26,443 |  |  |  | 333,442 |  |  |  | — |  |  |  | 359,885 |
Advisory fees |  |  | 19 |  |  |  | 254,733 |  |  |  | — |  |  |  | 254,752 |
Investment banking |  |  | 26,462 |  |  |  | 588,175 |  |  |  | — |  |  |  | 614,637 |
Asset management |  |  | 667,446 |  |  |  | 50 |  |  |  | — |  |  |  | 667,496 |
Other |  |  | 30,104 |  |  |  | — |  |  |  | 2,304 |  |  |  | 32,408 |
Total |  |  | 1,097,665 |  |  |  | 775,352 |  |  |  | 2,304 |  |  |  | 1,875,321 |
Primary Geographic Region: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  |  | 1,097,665 |  |  |  | 609,328 |  |  |  | 2,304 |  |  |  | 1,709,297 |
United Kingdom |  |  | — |  |  |  | 110,053 |  |  |  | — |  |  |  | 110,053 |
Canada |  |  | — |  |  |  | 27,240 |  |  |  | — |  |  |  | 27,240 |
Other |  |  | — |  |  |  | 28,731 |  |  |  | — |  |  |  | 28,731 |
|  | $ | 1,097,665 |  |  | $ | 775,352 |  |  | $ | 2,304 |  |  | $ | 1,875,321 |
(1) Excludes revenues not derived from contracts with customers included in the Other segment.

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