XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.25.1

Business Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information About Business Segments | The following tables highlight certain financial information about each of the business segments for the three months ended March 31, 2025 and 2024:
| Investment Managers |  | Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investments In New Businesses |  | Total
| For the Three Months Ended March 31, 2025
Total revenue | $ | 192,048 |  |  | $ | 137,714 |  |  | $ | 136,576 |  |  | $ | 68,506 |  |  | $ | 16,500 |  |  | $ | 551,344 |
Less: |  |  |  |  |  |  |  |  |  |  |
Operations & services | 86,239 |  |  | 50,286 |  |  | 41,038 |  |  | 20,673 |  |  | 4,961 |  |  | 203,197 |
Sales, marketing & client service | 9,832 |  |  | 8,910 |  |  | 9,195 |  |  | 9,656 |  |  | 4,927 |  |  | 42,520 |
Technology services & infrastructure | 12,752 |  |  | 28,335 |  |  | 8,866 |  |  | 1,549 |  |  | 1,368 |  |  | 52,870 |
Strategic initiatives & new business development | 6,387 |  |  | 22,379 |  |  | 11,708 |  |  | 2,559 |  |  | 5,698 |  |  | 48,731 |
Other segment expenses (1) | 2,001 |  |  | 4,839 |  |  | 1,648 |  |  | 1,433 |  |  | 1,542 |  |  | 11,463 |
Segment profit (loss) | $ | 74,837 |  |  | $ | 22,965 |  |  | $ | 64,121 |  |  | $ | 32,636 |  |  | $ | (1,996) |  |  | $ | 192,563 |
| Investment Managers |  | Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investments In New Businesses |  | Total
| For the Three Months Ended March 31, 2024
Total revenue | $ | 172,653 |  |  | $ | 130,137 |  |  | $ | 122,718 |  |  | $ | 71,778 |  |  | $ | 14,293 |  |  | $ | 511,579 |
Less: |  |  |  |  |  |  |  |  |  |  |
Operations & services | 78,374 |  |  | 48,262 |  |  | 39,051 |  |  | 21,623 |  |  | 4,918 |  |  | 192,228 |
Sales, marketing & client service | 9,827 |  |  | 10,774 |  |  | 5,220 |  |  | 11,493 |  |  | 4,607 |  |  | 41,921 |
Technology services & infrastructure | 10,454 |  |  | 26,906 |  |  | 8,329 |  |  | 1,477 |  |  | 1,296 |  |  | 48,462 |
Strategic initiatives & new business development | 7,989 |  |  | 21,258 |  |  | 12,548 |  |  | 3,585 |  |  | 6,018 |  |  | 51,398 |
Other segment expenses (1) | 2,906 |  |  | 5,774 |  |  | 1,810 |  |  | 1,931 |  |  | 1,544 |  |  | 13,965 |
Segment profit (loss) | $ | 63,103 |  |  | $ | 17,163 |  |  | $ | 55,760 |  |  | $ | 31,669 |  |  | $ | (4,090) |  |  | $ | 163,605 |
(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 three months ended March 31, 2025 and 2024 is as follows:
| 2025 |  | 2024
Total segment profit | $ | 192,563 |  |  | $ | 163,605 |
Corporate overhead expenses | (35,466) |  |  | (37,754) |
Income from operations | $ | 157,097 |  |  | $ | 125,851 |
Schedule of Additional Information Pertaining to Business Segments | The following tables provide additional information for the three months ended March 31, 2025 and 2024 pertaining to the business segments:
| Capital Expenditures (2) |  | Depreciation
| 2025 |  | 2024 |  | 2025 |  | 2024
Investment Managers | $ | 6,486 |  |  | $ | 7,675 |  |  | $ | 62 |  |  | $ | 1,579 |
Private Banks | 5,503 |  |  | 6,432 |  |  | 2,259 |  |  | 2,904 |
Investment Advisors | 2,632 |  |  | 3,165 |  |  | 2,025 |  |  | 2,181 |
Institutional Investors | 763 |  |  | 1,119 |  |  | 319 |  |  | 604 |
Investments in New Businesses | 279 |  |  | 416 |  |  | 78 |  |  | 172 |
Total from business segments | $ | 15,663 |  |  | $ | 18,807 |  |  | $ | 4,743 |  |  | $ | 7,440 |
Corporate overhead | 365 |  |  | 542 |  |  | 3,184 |  |  | 949 |
| $ | 16,028 |  |  | $ | 19,349 |  |  | $ | 7,927 |  |  | $ | 8,389 |
(2) Capital expenditures include additions to property and equipment and capitalized software.
| Amortization
| 2025 |  | 2024
Investment Managers | $ | 202 |  |  | $ | — |
Private Banks | 5,275 |  |  | 5,111 |
Investment Advisors | 2,419 |  |  | 2,122 |
Institutional Investors | 1,875 |  |  | 1,892 |
Investments in New Businesses | 875 |  |  | 1,182 |
Total from business segments | $ | 10,646 |  |  | $ | 10,307 |
Corporate overhead | 64 |  |  | 79 |
| $ | 10,710 |  |  | $ | 10,386 |

X
- 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
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets. + 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 (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration