Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 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
Divestiture of Family Office Services business	—		—		—		(1,711)		(1,711)
Measurement period adjustments	—		(1,109)		—		—		(1,109)
Foreign currency translation adjustments	—		—		1,271		—		1,271
Balance, June 30, 2025	$	55,267	$	32,022	$	62,990	$	18,459	$	168,738

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 six months ended June 30, 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 six months ended June 30, 2025, the Company made an adjustment of $233 which increased 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 June 30, 2025, the current portion of the contingent consideration of $6,205 is included in Accrued liabilities on the accompanying Consolidated balance Sheet. The long-term portion of the contingent consideration of $4,746 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 six months ended June 30, 2025, the Company determined the achievement of the performance measurements would not be met and wrote off $2,587 representing the remaining balance of the contingent consideration obligation to the sellers. The gain from the write off of the contingent consideration is reflected in Facilities, supplies and other costs on the Consolidated Statement of Operations.

The Company recognized $6,606 and $6,790 of amortization expense related to acquired intangible assets during the six months ended June 30, 2025 and 2024, respectively.