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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets 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 of $11,499 was allocated to the Investments in New Businesses segment and is included on the accompanying Consolidated Balance Sheets. The total purchase price for Huntington Steele included a contingent purchase price payable to the sellers upon the attainment of specified financial measures determined at various intervals occurring between 2019 and 2023. The Company made payments of $633 and $433 during 2020 and 2019, respectively, to the sellers and recorded fair value adjustments of $893 and $568 during 2020 and 2019, respectively, to increase the fair value of the remaining contingent consideration. As of December 31, 2020, the current portion of the contingent consideration of $3,931 is included in Accrued liabilities on the accompanying Balance Sheet. The long-term portion of the contingent consideration of $8,584 is included in Other long-term liabilities on the accompanying 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 of $52,990 was allocated to the Investment Managers segment and is included on the accompanying Consolidated Balance Sheets. There was no change in the carrying amount of the Company's goodwill during 2020 or 2019. The Company's intangible assets consist of:
| 2020 |  | Weighted Average Estimated Useful Life |  | 2019 |  | 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 | (12,456) |  |  |  |  | (8,773) |  |  |
Intangible assets, net | $ | 24,304 |  |  |  |  | $ | 27,987 |  |  |
The Company recognized $3,683 of amortization expense related to intangible assets during 2020 and 2019. The Company currently expects to recognize amortization expense related to intangible assets as of December 31, 2020 each year from 2021 through 2025 as follows:
Year | Expected Amortization Expense Related to Intangible Assets
2021 | $ | 3,683 |
2022 | 3,336 |
2023 | 2,989 |
2024 | 2,818 |
2025 | 2,599 |

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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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