Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of the Company's goodwill by segment are as follows:


	Investment Managers		Investment Advisors		Institutional Investors		Investments in New Businesses		Total

Balance, December 31, 2024	$	55,267	$	33,131	$	61,719	$	20,170	$	170,287
Reclassification of goodwill to assets held for sale	—		—		—		(1,711)		(1,711)
Measurement period adjustments	—		(1,109)		—		—		(1,109)
Foreign currency translation adjustments	1		—		431		—		432
Balance, March 31, 2025	$	55,268	$	32,022	$	62,150	$	18,459	$	167,899

In December 2024, the Company acquired LifeYield, LLC (LifeYield). The total purchase price for LifeYield included a contingent consideration subject to the achievement of certain post-closing performance measurements determined during a time period up to four years from the closing date. During the three months ended March 31, 2025, the Company recorded an adjustment of $1,109 to finalize the calculation of the contingent consideration which reduced the amount of goodwill recorded through the acquisition. Also during the three months ended March 31, 2025, the Company made an adjustment of $254 which reduced the fair value of the contingent consideration. This fair value adjustment to the contingent consideration is reflected in Facilities, supplies and other costs on the Consolidated Statement of Operations. As of March 31, 2025, the fair value of the contingent consideration of $10,465 is included in Other long-term liabilities on the accompanying Consolidated Balance Sheet.

In November 2023, the Company's wholly-owned operating subsidiary in the United Kingdom, SIEL, acquired all of the outstanding equity of XPS Pensions (Nexus) Limited, principal employer and scheme funder of the National Pensions Trust (NPT), from its parent company, XPS Pensions Group PLC (XPS). The total purchase price for XPS Pensions (Nexus) Limited included a contingent consideration payable to the sellers subject to the achievement of certain post-closing performance measurements determined during intervals occurring within two years immediately following the closing date. During the three months ended March 31, 2025, the Company made an adjustment of $1,097 which reduced the fair value of the contingent consideration. The fair value adjustment to the contingent consideration is reflected in Facilities, supplies and other costs on the Consolidated Statement of Operations. As of March 31, 2025, the fair value of the contingent consideration of $1,423 is included in Other long-term liabilities on the accompanying Consolidated Balance Sheet.

The Company recognized $3,449 and $3,403 of amortization expense related to acquired intangible assets during the three months ended March 31, 2025 and 2024, respectively.