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Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Carrying Amount of Goodwill and Intangible Assets | The carrying amount of goodwill and intangible assets attributable to each of our reporting segments is presented in the following table (in thousands):
|  | December 31, 2024 |  |  | Adjustments |  |  | Write-off |  |  | March 31, 2025 |
Goodwill |  |  |  |  |  |  |  |  |  |  |  |
Global Wealth Management |  | $ | 335,009 |  |  | $ | — |  |  | $ | — |  |  | $ | 335,009 |
Institutional Group |  |  | 1,060,209 |  |  |  | (3 | ) |  |  | — |  |  |  | 1,060,206 |
|  | $ | 1,395,218 |  |  | $ | (3 | ) |  | $ | — |  |  | $ | 1,395,215 |
|  | December 31, 2024 |  |  | Adjustments |  |  | Amortization |  |  | March 31, 2025 |
Intangible assets |  |  |  |  |  |  |  |  |  |  |  |
Global Wealth Management |  | $ | 24,385 |  |  | $ | — |  |  | $ | (942 | ) |  | $ | 23,443 |
Institutional Group |  |  | 89,189 |  |  |  | (35 | ) |  |  | (4,454 | ) |  |  | 84,700 |
|  | $ | 113,574 |  |  | $ | (35 | ) |  | $ | (5,396 | ) |  | $ | 108,143 |
Intangible Assets | Intangible assets as of March 31, 2025 and December 31, 2024 were as follows (in thousands):
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Gross Carrying Value |  |  | Accumulated Amortization |
Customer relationships |  | $ | 208,770 |  |  | $ | 119,040 |  |  | $ | 208,601 |  |  | $ | 115,919 |
Trade names |  |  | 29,109 |  |  |  | 22,648 |  |  |  | 29,109 |  |  |  | 22,210 |
Acquired technology |  |  | 19,903 |  |  |  | 10,654 |  |  |  | 19,903 |  |  |  | 9,158 |
Non-compete agreements |  |  | 10,152 |  |  |  | 8,667 |  |  |  | 10,152 |  |  |  | 8,559 |
Investment banking backlog |  |  | 8,913 |  |  |  | 7,720 |  |  |  | 8,913 |  |  |  | 7,327 |
Core deposits |  |  | 8,615 |  |  |  | 8,590 |  |  |  | 8,615 |  |  |  | 8,546 |
|  | $ | 285,462 |  |  | $ | 177,319 |  |  | $ | 285,293 |  |  | $ | 171,719 |
Amortization Expense in Future Periods | As of March 31, 2025, we expect amortization expense in future periods to be as follows (in thousands):
Fiscal year |  |  |
Remainder of 2025 |  | $ | 15,941 |
2026 |  |  | 17,459 |
2027 |  |  | 13,699 |
2028 |  |  | 12,654 |
2029 |  |  | 11,533 |
Thereafter |  |  | 34,739 |
|  | $ | 106,025 |

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