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Goodwill and Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 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 |  |  | June 30, 2025 |
Goodwill |  |  |  |  |  |  |  |  |  |  |  |
Global Wealth Management |  | $ | 335,009 |  |  | $ | 17,388 |  |  | $ | — |  |  | $ | 352,397 |
Institutional Group |  |  | 1,060,209 |  |  |  | 66,281 |  |  |  | — |  |  |  | 1,126,490 |
|  | $ | 1,395,218 |  |  | $ | 83,669 |  |  | $ | — |  |  | $ | 1,478,887 |
|  | December 31, 2024 |  |  | Adjustments |  |  | Amortization |  |  | June 30, 2025 |
Intangible assets |  |  |  |  |  |  |  |  |  |  |  |
Global Wealth Management |  | $ | 24,385 |  |  | $ | 5,031 |  |  | $ | (1,863 | ) |  | $ | 27,553 |
Institutional Group |  |  | 89,189 |  |  |  | 7,787 |  |  |  | (9,074 | ) |  |  | 87,902 |
|  | $ | 113,574 |  |  | $ | 12,818 |  |  | $ | (10,937 | ) |  | $ | 115,455 |
Intangible Assets | Intangible assets as of June 30, 2025 and December 31, 2024 were as follows (in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Gross Carrying Value |  |  | Accumulated Amortization |
Customer relationships |  | $ | 222,188 |  |  | $ | 122,750 |  |  | $ | 208,601 |  |  | $ | 115,919 |
Trade names |  |  | 29,109 |  |  |  | 23,026 |  |  |  | 29,109 |  |  |  | 22,210 |
Acquired technology |  |  | 19,903 |  |  |  | 12,150 |  |  |  | 19,903 |  |  |  | 9,158 |
Non-compete agreements |  |  | 10,152 |  |  |  | 8,774 |  |  |  | 10,152 |  |  |  | 8,559 |
Investment banking backlog |  |  | 8,913 |  |  |  | 8,112 |  |  |  | 8,913 |  |  |  | 7,327 |
Core deposits |  |  | 8,615 |  |  |  | 8,613 |  |  |  | 8,615 |  |  |  | 8,546 |
|  | $ | 298,880 |  |  | $ | 183,425 |  |  | $ | 285,293 |  |  | $ | 171,719 |
Amortization Expense in Future Periods | As of June 30, 2025, we expect amortization expense in future periods to be as follows (in thousands):
Fiscal year |  |  |
Remainder of 2025 |  | $ | 11,588 |
2026 |  |  | 19,347 |
2027 |  |  | 15,586 |
2028 |  |  | 14,508 |
2029 |  |  | 13,420 |
Thereafter |  |  | 38,888 |
|  | $ | 113,337 |

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