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Business Segment Information (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, 2025 and 2024:
| Investment Managers |  | Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investments In New Businesses |  | Total
| For the Three Months Ended September 30, 2025
Total revenue | $ | 207,050 |  |  | $ | 143,994 |  |  | $ | 147,465 |  |  | $ | 71,826 |  |  | $ | 8,176 |  |  | $ | 578,511 |
Less: |  |  |  |  |  |  |  |  |  |  |
Operations & services | 89,335 |  |  | 54,044 |  |  | 46,211 |  |  | 21,010 |  |  | 1,810 |  |  | 212,410 |
Sales, marketing & client service | 11,240 |  |  | 10,723 |  |  | 8,819 |  |  | 9,820 |  |  | 3,844 |  |  | 44,446 |
Technology services & infrastructure | 12,887 |  |  | 28,809 |  |  | 9,074 |  |  | 1,678 |  |  | 1,603 |  |  | 54,051 |
Strategic initiatives & new business development | 8,316 |  |  | 21,305 |  |  | 13,389 |  |  | 4,168 |  |  | 3,471 |  |  | 50,649 |
Other segment expenses (1) | 4,156 |  |  | 5,882 |  |  | 1,635 |  |  | 1,392 |  |  | 1,135 |  |  | 14,200 |
Segment profit (loss) | $ | 81,116 |  |  | $ | 23,231 |  |  | $ | 68,337 |  |  | $ | 33,758 |  |  | $ | (3,687) |  |  | $ | 202,755 |
| Investment Managers |  | Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investments In New Businesses |  | Total
| For the Three Months Ended September 30, 2024
Total revenue | $ | 184,607 |  |  | $ | 138,734 |  |  | $ | 126,836 |  |  | $ | 71,626 |  |  | $ | 15,593 |  |  | $ | 537,396 |
Less: |  |  |  |  |  |  |  |  |  |  |
Operations & services | 82,140 |  |  | 50,749 |  |  | 40,121 |  |  | 21,217 |  |  | 4,779 |  |  | 199,006 |
Sales, marketing & client service | 9,515 |  |  | 9,928 |  |  | 8,122 |  |  | 10,162 |  |  | 4,681 |  |  | 42,408 |
Technology services & infrastructure | 11,008 |  |  | 27,754 |  |  | 8,590 |  |  | 1,504 |  |  | 1,373 |  |  | 50,229 |
Strategic initiatives & new business development | 8,584 |  |  | 21,317 |  |  | 11,790 |  |  | 3,210 |  |  | 5,930 |  |  | 50,831 |
Other segment expenses (1) | 2,871 |  |  | 5,349 |  |  | 1,529 |  |  | 1,758 |  |  | 1,677 |  |  | 13,184 |
Segment profit (loss) | $ | 70,489 |  |  | $ | 23,637 |  |  | $ | 56,684 |  |  | $ | 33,775 |  |  | $ | (2,847) |  |  | $ | 181,738 |
(1) Other segment expenses for each reportable segment includes professional services, occupancy and certain overhead expenses. The following tables highlight certain financial information about each of business segment for the nine months ended September 30, 2025 and 2024:
| Investment Managers |  | Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investments In New Businesses |  | Total
| For the Nine Months Ended September 30, 2025
Total revenue | $ | 594,165 |  |  | $ | 423,157 |  |  | $ | 421,234 |  |  | $ | 209,675 |  |  | $ | 41,225 |  |  | $ | 1,689,456 |
Less: |  |  |  |  |  |  |  |  |  |  |
Operations & services | 263,945 |  |  | 157,576 |  |  | 130,048 |  |  | 62,401 |  |  | 12,408 |  |  | 626,378 |
Sales, marketing & client service | 31,573 |  |  | 29,756 |  |  | 28,251 |  |  | 29,574 |  |  | 13,569 |  |  | 132,723 |
Technology services & infrastructure | 39,407 |  |  | 85,412 |  |  | 26,849 |  |  | 4,810 |  |  | 4,473 |  |  | 160,951 |
Strategic initiatives & new business development | 20,987 |  |  | 65,185 |  |  | 37,191 |  |  | 8,994 |  |  | 13,993 |  |  | 146,350 |
Other segment expenses (3) | 8,869 |  |  | 16,307 |  |  | 5,045 |  |  | 4,016 |  |  | 4,346 |  |  | 38,583 |
Segment profit (loss) | $ | 229,384 |  |  | $ | 68,921 |  |  | $ | 193,850 |  |  | $ | 99,880 |  |  | $ | (7,564) |  |  | $ | 584,471 |
| Investment Managers |  | Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investments In New Businesses |  | Total
| For the Nine Months Ended September 30, 2024
Total revenue | $ | 537,128 |  |  | $ | 401,272 |  |  | $ | 370,141 |  |  | $ | 214,911 |  |  | $ | 44,509 |  |  | $ | 1,567,961 |
Less: |  |  |  |  |  |  |  |  |  |  |
Operations & services | 241,176 |  |  | 147,120 |  |  | 118,707 |  |  | 64,048 |  |  | 14,752 |  |  | 585,803 |
Sales, marketing & client service | 29,236 |  |  | 31,241 |  |  | 21,175 |  |  | 32,438 |  |  | 14,221 |  |  | 128,311 |
Technology services & infrastructure | 31,752 |  |  | 81,540 |  |  | 25,260 |  |  | 4,442 |  |  | 4,067 |  |  | 147,061 |
Strategic initiatives & new business development | 25,569 |  |  | 63,437 |  |  | 36,437 |  |  | 10,200 |  |  | 17,361 |  |  | 153,004 |
Other segment expenses (3) | 7,222 |  |  | 16,623 |  |  | 4,484 |  |  | 5,258 |  |  | 5,002 |  |  | 38,589 |
Segment profit (loss) | $ | 202,173 |  |  | $ | 61,311 |  |  | $ | 164,078 |  |  | $ | 98,525 |  |  | $ | (10,894) |  |  | $ | 515,193 |
(3) 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 September 30, 2025 and 2024 is as follows:
| 2025 |  | 2024
Total segment profit | $ | 202,755 |  |  | $ | 181,738 |
Corporate overhead expenses | (42,794) |  |  | (37,906) |
Income from operations | $ | 159,961 |  |  | $ | 143,832 |
A reconciliation of the total operating profit reported for the business segments to income from operations in the Consolidated Statements of Operations for the nine months ended September 30, 2025 and 2024:
| 2025 |  | 2024
Total segment profit | $ | 584,471 |  |  | $ | 515,193 |
Corporate overhead expenses | (118,778) |  |  | (108,996) |
Income from operations | $ | 465,693 |  |  | $ | 406,197 |
Other income and expense items to reconcile income from operations to income before income taxes on the Consolidated Statements of Operations include net gain from investments, interest and dividend income, interest expense, gain on sale of business, other income, equity in the earnings of unconsolidated affiliates and net gain from consolidated variable interest entities. These items are not allocated to the Company's segments.
Schedule of Additional Information Pertaining to Business Segments | The following tables provide additional information for the three months ended September 30, 2025 and 2024 pertaining to the business segments:
| Capital Expenditures (2) |  | Depreciation
| 2025 |  | 2024 |  | 2025 |  | 2024
Investment Managers | $ | 6,054 |  |  | $ | 7,196 |  |  | $ | 1,788 |  |  | $ | 1,659 |
Private Banks | 6,479 |  |  | 2,764 |  |  | 2,681 |  |  | 2,620 |
Investment Advisors | 2,978 |  |  | 1,092 |  |  | 1,889 |  |  | 2,254 |
Institutional Investors | 761 |  |  | 740 |  |  | 474 |  |  | 614 |
Investments in New Businesses | 258 |  |  | 124 |  |  | 122 |  |  | 186 |
Total from business segments | $ | 16,530 |  |  | $ | 11,916 |  |  | $ | 6,954 |  |  | $ | 7,333 |
Corporate overhead | 450 |  |  | 222 |  |  | 531 |  |  | 1,008 |
| $ | 16,980 |  |  | $ | 12,138 |  |  | $ | 7,485 |  |  | $ | 8,341 |
(2) Capital expenditures include additions to property and equipment and capitalized software.
| Amortization
| 2025 |  | 2024
Investment Managers | $ | 1,301 |  |  | $ | 80 |
Private Banks | 5,427 |  |  | 5,147 |
Investment Advisors | 2,473 |  |  | 2,169 |
Institutional Investors | 1,956 |  |  | 1,851 |
Investments in New Businesses | 416 |  |  | 1,096 |
Total from business segments | $ | 11,573 |  |  | $ | 10,343 |
Corporate overhead | 339 |  |  | 70 |
| $ | 11,912 |  |  | $ | 10,413 |
The following tables provide additional information for the nine months ended September 30, 2025 and 2024:
| Capital Expenditures (4) |  | Depreciation
| 2025 |  | 2024 |  | 2025 |  | 2024
Investment Managers | $ | 16,690 |  |  | $ | 21,260 |  |  | $ | 3,582 |  |  | $ | 4,874 |
Private Banks | 16,192 |  |  | 13,782 |  |  | 7,634 |  |  | 8,356 |
Investment Advisors | 7,512 |  |  | 6,244 |  |  | 5,914 |  |  | 6,625 |
Institutional Investors | 1,859 |  |  | 2,589 |  |  | 1,287 |  |  | 1,816 |
Investments in New Businesses | 658 |  |  | 713 |  |  | 411 |  |  | 528 |
Total from business segments | $ | 42,911 |  |  | $ | 44,588 |  |  | $ | 18,828 |  |  | $ | 22,199 |
Corporate Overhead | 986 |  |  | 1,029 |  |  | 4,249 |  |  | 2,898 |
| $ | 43,897 |  |  | $ | 45,617 |  |  | $ | 23,077 |  |  | $ | 25,097 |
(4) Capital expenditures include additions to property and equipment and capitalized software.
| Amortization
| 2025 |  | 2024
Investment Managers | $ | 1,704 |  |  | $ | 161 |
Private Banks | 16,046 |  |  | 15,347 |
Investment Advisors | 7,342 |  |  | 6,439 |
Institutional Investors | 5,775 |  |  | 5,619 |
Investments in New Businesses | 1,707 |  |  | 3,461 |
Total from business segments | $ | 32,574 |  |  | $ | 31,027 |
Corporate Overhead | 497 |  |  | 257 |
| $ | 33,071 |  |  | $ | 31,284 |

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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 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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