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Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in the carrying amount of the Company's goodwill by segment are as follows:
 
Investment
Managers
 
Investments
In New
Businesses
 
Total
Balance, January 1, 2018
$
52,990

 
$
—

 
$
52,990

Business acquisition
—

 
11,499

 
11,499

Balance, September 30, 2018
$
52,990

 
$
11,499

 
$
64,489


On April 2, 2018, the Company acquired all ownership interests of Huntington Steele (See Note 13). The excess purchase price over the value of the identifiable intangible assets was preliminarily allocated to goodwill and is included on the accompanying Consolidated Balance Sheet.
In July 2017, the Company acquired all ownership interests of Archway Technology Partners, LLC, Archway Finance & Operations, Inc. and Keystone Capital Holdings, LLC (collectively, Archway), a provider of operating technologies and services to the family office industry. The total purchase price was allocated to Archway’s net tangible and intangible assets based upon their estimated fair values at the date of purchase. The excess purchase price over the value of the net tangible and identifiable intangible assets was recorded as goodwill. The total amount of goodwill from this transaction amounted to $52,990 and is included on the accompanying Consolidated Balance Sheets.
The Company's intangible assets consist of:
 
September 30, 2018
 
Weighted Average Estimated Useful Life
 
December 31, 2017
 
Weighted Average Estimated Useful Life
Acquired technology
$
13,510

 
10.0 years
 
$
13,510

 
10.0 years
Client relationships
16,940

 
13.9 years
 
10,760

 
15.0 years
Non-competition agreements
3,470

 
5.0 years
 
3,470

 
5.0 years
Trade name
2,840

 
7.0 years
 
2,390

 
7.0 years
 
36,760

 
 
 
30,130

 
 
Less: Accumulated amortization
(4,169
)
 
 
 
(1,552
)
 
 
Intangible assets, net
$
32,591

 
 
 
$
28,578

 
 

The Company recognized $2,617 and $857 of amortization expense related to intangible assets during the nine months ended September 30, 2018 and 2017, respectively.