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Business Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Financial Information about Business Segments | The following tables highlight certain financial information about each of the Company’s business segments for the years ended December 31, 2024, 2023 and 2022:
|  | Investment Managers |  | Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investments in New Businesses |  | Total
|  | For the Year Ended December 31, 2024
Total revenue |  | $ | 728,390 |  |  | $ | 541,414 |  |  | $ | 509,408 |  |  | $ | 285,723 |  |  | $ | 60,216 |  |  | $ | 2,125,151 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Operations & services |  | 324,602 |  |  | 200,250 |  |  | 162,396 |  |  | 85,807 |  |  | 19,454 |  |  | 792,509 |
Sales, marketing & client service |  | 40,143 |  |  | 41,463 |  |  | 31,872 |  |  | 41,612 |  |  | 19,408 |  |  | 174,498 |
Technology services & infrastructure |  | 43,293 |  |  | 110,154 |  |  | 33,812 |  |  | 5,998 |  |  | 5,531 |  |  | 198,788 |
Strategic initiatives & new business development |  | 33,804 |  |  | 85,662 |  |  | 48,526 |  |  | 14,241 |  |  | 23,427 |  |  | 205,660 |
Other segment expenses (1) |  | 11,243 |  |  | 22,846 |  |  | 6,296 |  |  | 7,043 |  |  | 6,879 |  |  | 54,307 |
Segment profit (loss) |  | $ | 275,305 |  |  | $ | 81,039 |  |  | $ | 226,506 |  |  | $ | 131,022 |  |  | $ | (14,483) |  |  | $ | 699,389 |
|  | Investment Managers |  | Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investments in New Businesses |  | Total
|  |  |  | For the Year Ended December 31, 2023
Total revenue |  | $ | 645,254 |  |  | $ | 496,317 |  |  | $ | 436,298 |  |  | $ | 289,708 |  |  | $ | 52,216 |  |  | $ | 1,919,793 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Operations & services |  | 289,348 |  |  | 200,946 |  |  | 145,094 |  |  | 87,778 |  |  | 17,553 |  |  | 740,719 |
Sales, marketing & client service |  | 35,914 |  |  | 37,271 |  |  | 28,547 |  |  | 52,056 |  |  | 17,171 |  |  | 170,959 |
Technology services & infrastructure |  | 42,001 |  |  | 105,698 |  |  | 31,246 |  |  | 5,284 |  |  | 5,307 |  |  | 189,536 |
Strategic initiatives & new business development |  | 42,811 |  |  | 86,888 |  |  | 49,657 |  |  | 14,567 |  |  | 27,227 |  |  | 221,150 |
Other segment expenses (1) |  | 9,122 |  |  | 17,687 |  |  | 4,598 |  |  | 5,770 |  |  | 3,487 |  |  | 40,664 |
Segment profit (loss) |  | $ | 226,058 |  |  | $ | 47,827 |  |  | $ | 177,156 |  |  | $ | 124,253 |  |  | $ | (18,529) |  |  | $ | 556,765 |
|  | Investment Managers |  | Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investments in New Businesses |  | Total
|  |  |  | For the Year Ended December 31, 2022
Total revenue |  | $ | 599,661 |  |  | $ | 570,010 |  |  | $ | 447,766 |  |  | $ | 323,353 |  |  | $ | 50,247 |  |  | $ | 1,991,037 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Operations & services |  | 270,129 |  |  | 201,113 |  |  | 137,979 |  |  | 95,860 |  |  | 16,629 |  |  | 721,710 |
Sales, marketing & client service |  | 39,116 |  |  | 49,449 |  |  | 26,774 |  |  | 50,849 |  |  | 22,146 |  |  | 188,334 |
Technology services & infrastructure |  | 37,867 |  |  | 102,839 |  |  | 28,247 |  |  | 5,197 |  |  | 5,754 |  |  | 179,904 |
Strategic initiatives & new business development |  | 27,842 |  |  | 96,484 |  |  | 54,605 |  |  | 15,207 |  |  | 22,013 |  |  | 216,151 |
Other segment expenses (1) |  | 7,011 |  |  | 17,936 |  |  | 4,045 |  |  | 5,139 |  |  | 6,890 |  |  | 41,021 |
Segment profit (loss) |  | $ | 217,696 |  |  | $ | 102,189 |  |  | $ | 196,116 |  |  | $ | 151,101 |  |  | $ | (23,185) |  |  | $ | 643,917 |
(1) Other segment expenses for each reportable segment includes professional services, occupancy and certain overhead expenses.
Schedule of Reconciliation of Total Operating Profit Reported for Business Segments to Income from Operations in Consolidated Statements of Operations | A reconciliation of the total segment profit to income from operations on the Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022 is as follows:
Year Ended December 31, |  | 2024 |  | 2023 |  | 2022
Total segment profit |  | $ | 699,389 |  |  | $ | 556,765 |  |  | $ | 643,917 |
Corporate overhead expenses (2) |  | (147,648) |  |  | (132,241) |  |  | (168,164) |
Income from operations |  | 551,741 |  |  | 424,524 |  |  | 475,753 |
(2) Corporate overhead expenses in 2022 include the total costs of the Voluntary Separation Program (See Note 14).
Schedule of Additional Information Pertaining to Business Segments | The following tables provide additional information for the years ended December 31, 2024, 2023 and 2022 pertaining to the Company's business segments:
|  | Capital Expenditures (3) |  | Depreciation
Year Ended December 31, |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Investment Managers |  | $ | 25,115 |  |  | $ | 26,603 |  |  | $ | 20,931 |  |  | $ | 6,527 |  |  | $ | 8,327 |  |  | $ | 7,807 |
Private Banks |  | 18,118 |  |  | 19,331 |  |  | 32,454 |  |  | 11,129 |  |  | 21,887 |  |  | 21,237 |
Investment Advisors |  | 8,332 |  |  | 9,329 |  |  | 13,027 |  |  | 8,754 |  |  | 2,040 |  |  | 1,933 |
Institutional Investors |  | 2,895 |  |  | 1,639 |  |  | 3,884 |  |  | 2,411 |  |  | 1,207 |  |  | 1,142 |
Investments in New Businesses |  | 878 |  |  | 857 |  |  | 824 |  |  | 712 |  |  | 971 |  |  | 825 |
Total from business segments |  | $ | 55,338 |  |  | $ | 57,759 |  |  | $ | 71,120 |  |  | $ | 29,533 |  |  | $ | 34,432 |  |  | $ | 32,944 |
Corporate Overhead |  | 1,228 |  |  | 1,384 |  |  | 1,714 |  |  | 3,825 |  |  | 868 |  |  | 713 |
|  | $ | 56,566 |  |  | $ | 59,143 |  |  | $ | 72,834 |  |  | $ | 33,358 |  |  | $ | 35,300 |  |  | $ | 33,657 |
(3) Capital expenditures include additions to property and equipment and capitalized software.
|  | Amortization
Year Ended December 31, |  | 2024 |  | 2023 |  | 2022
Investment Managers |  | $ | 362 |  |  | $ | 771 |  |  | $ | 6,400 |
Private Banks |  | 20,514 |  |  | 19,094 |  |  | 25,886 |
Investment Advisors |  | 8,540 |  |  | 7,620 |  |  | 9,905 |
Institutional Investors |  | 7,576 |  |  | 7,324 |  |  | 8,166 |
Investments in New Businesses |  | 4,556 |  |  | 3,579 |  |  | 3,660 |
Total from business segments |  | $ | 41,548 |  |  | $ | 38,388 |  |  | $ | 54,017 |
Corporate Overhead |  | 321 |  |  | 281 |  |  | 263 |
|  | $ | 41,869 |  |  | $ | 38,669 |  |  | $ | 54,280 |
Schedule of Revenues and Assets Based on Location | The following table presents revenues based on the location of the use of the products or services:
For the Year Ended December 31, |  | 2024 |  | 2023 |  | 2022
United States |  | $ | 1,816,650 |  |  | $ | 1,640,109 |  |  | $ | 1,623,022 |
International operations |  | 308,501 |  |  | 279,684 |  |  | 368,015 |
|  | $ | 2,125,151 |  |  | $ | 1,919,793 |  |  | $ | 1,991,037 |
The following table presents assets based on their location:
|  | 2024 |  | 2023
United States |  | $ | 2,223,489 |  |  | $ | 2,041,083 |
International operations |  | 461,117 |  |  | 478,920 |
|  | $ | 2,684,606 |  |  | $ | 2,520,003 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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