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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The carrying amount of the Company's goodwill by segment at December 31, 2019 and 2018 is as follows:
| Investment Managers |  | Investments In New Businesses |  | Total
Balance, January 1, 2018 | $ | 52,990 |  |  | $ | — |  |  | $ | 52,990 |
Acquisition of Huntington Steele | — |  |  | 11,499 |  |  | 11,499 |
Balance, December 31, 2018 | $ | 52,990 |  |  | $ | 11,499 |  |  | $ | 64,489 |
Balance, December 31, 2019 | $ | 52,990 |  |  | $ | 11,499 |  |  | $ | 64,489 |
In April 2018, the Company acquired all ownership interests of Huntington Steele, LLC (Huntington Steele). The excess purchase price over the estimated value of the net tangible and identifiable intangible assets was allocated to goodwill. The total amount of goodwill from this transaction amounted to $11,499 and is included on the accompanying Consolidated Balance Sheets. The total purchase price for Huntington Steele included a contingent purchase price of $12,120 payable to the sellers upon the attainment of specified financial measures determined at various intervals occurring between 2019 and 2023. During 2019, the Company made a payment of $433 to the sellers and made an adjustment of $568 to increase the fair value of the remaining contingent consideration. The fair value adjustment to the contingent consideration is reflected in Facilities, supplies and other costs on the accompanying Consolidated Statement of Operations in 2019. As of December 31, 2019, the current portion of the contingent consideration of $625 is included in Accrued liabilities on the accompanying Balance Sheet. The long-term portion of the contingent consideration of $11,630 is included in Other long-term liabilities on the accompanying Balance Sheet. There was no change in the carrying amount of the Company's goodwill during 2019. The Company's intangible assets consist of:
| 2019 |  | Weighted Average Estimated Useful Life |  | 2018 |  | Weighted Average Estimated Useful Life
Acquired technology | $ | 13,510 |  |  | 10.0 years |  | $ | 13,510 |  |  | 10.0 years
Client relationships | 16,940 |  |  | 13.9 years |  | 16,940 |  |  | 13.9 years
Non-competition agreements | 3,470 |  |  | 5.0 years |  | 3,470 |  |  | 5.0 years
Trade name | 2,840 |  |  | 7.0 years |  | 2,840 |  |  | 7.0 years
| 36,760 |  |  |  |  | 36,760 |  |  |
Less: Accumulated amortization | (8,773 | ) |  |  |  | (5,090 | ) |  |
Intangible assets, net | $ | 27,987 |  |  |  |  | $ | 31,670 |  |  |
The Company recognized $3,683 and $3,538 of amortization expense related to intangible assets during 2019 and 2018, respectively. The Company currently expects to recognize amortization expense related to intangible assets as of December 31, 2019 each year from 2020 through 2024 as follows:
Year | Expected Amortization Expense Related to Intangible Assets
2020 | $ | 3,683 |
2021 | 3,683 |
2022 | 3,336 |
2023 | 2,989 |
2024 | 2,818 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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