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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2024
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, 2024 and 2023 is as follows:
|  | Investment Managers |  | Investment Advisors |  | Institutional Investors |  | Investments in New Businesses |  | Total
Balance, December 31, 2022 |  | $ | 56,992 |  |  | $ | — |  |  | $ | 47,108 |  |  | 11,499 |  |  | $ | 115,599 |
Acquisitions (See Note 15) |  | — |  |  | — |  |  | 14,492 |  |  | 6,960 |  |  | 21,452 |
Foreign currency translation adjustments |  | (2) |  |  | — |  |  | 284 |  |  | — |  |  | 282 |
Balance, December 31, 2023 |  | $ | 56,990 |  |  | $ | — |  |  | $ | 61,884 |  |  | $ | 18,459 |  |  | $ | 137,333 |
Acquisition of LifeYield (See Note 15) |  | — |  |  | 33,131 |  |  | — |  |  | — |  |  | 33,131 |
Measurement period adjustments |  | — |  |  | — |  |  | 25 |  |  | — |  |  | 25 |
Reclassification due to segment reorganization |  | (1,711) |  |  | — |  |  | — |  |  | 1,711 |  |  | — |
Foreign currency translation adjustments |  | (12) |  |  | — |  |  | (190) |  |  | — |  |  | (202) |
Balance, December 31, 2024 |  | $ | 55,267 |  |  | $ | 33,131 |  |  | $ | 61,719 |  |  | $ | 20,170 |  |  | $ | 170,287 |
The reclassification of the Company's goodwill by segment during 2024 reflects the relative fair value allocation of the goodwill related to the businesses that were reclassified into the new segment (See Note 12). The Company's intangible assets consist of:
| 2024 |  | Weighted Average Estimated Useful Life |  | 2023 |  | Weighted Average Estimated Useful Life
Client relationships | $ | 63,785 |  |  | 9.8 years |  | $ | 63,803 |  |  | 10.4 years
Acquired technology | 61,060 |  |  | 7.5 years |  | 53,020 |  |  | 7.7 years
Trade name | 4,890 |  |  | 15.3 years |  | 4,670 |  |  | 15.1 years
Non-competition agreements | 3,470 |  |  | 5.0 years |  | 3,470 |  |  | 5.0 years
| 133,205 |  |  |  |  | 124,963 |  |  |
Less: Accumulated amortization | (55,835) |  |  |  |  | (42,520) |  |  |
Intangible assets, net | $ | 77,370 |  |  |  |  | $ | 82,443 |  |  |
The Company recognized $13,448, $12,161 and $12,580 of amortization expense related to intangible assets during 2024, 2023 and 2022, respectively. The Company currently expects to recognize amortization expense related to intangible assets as of December 31, 2024 each year from 2025 through 2029 as follows:
Year | Expected Amortization Expense Related to Intangible Assets
2025 | $ | 13,503 |
2026 | 13,395 |
2027 | 10,848 |
2028 | 9,858 |
2029 | 6,157 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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