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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s reportable segments offer different products and services and are managed separately, as different levels and types of expertise are required to effectively manage the segments’ transactions. Each segment is reviewed to determine the allocation of resources and to assess its performance. The Company’s principal operating activities are included in its Financial Advisory and Asset Management business segments as described in Note 1. In addition, as described in Note 1, the Company records selected other activities in its Corporate segment.
The Company’s segment information for the three month and nine month periods ended September 30, 2023 and 2022 is prepared using the following methodology:
•Revenue and expenses directly associated with each segment are included in determining operating income.
•Expenses not directly associated with specific segments are allocated based on the most relevant measures applicable, including headcount, square footage and other factors.
•Segment assets are based on those directly associated with each segment, and include an allocation of certain assets relating to various segments, based on the most relevant measures applicable, including headcount, square footage and other factors.
The Company records other revenue, interest income and interest expense among the various segments based on the segment in which the underlying asset or liability is reported.
Each segment’s operating expenses include (i) compensation and benefits expenses incurred directly in support of the businesses and (ii) other operating expenses, which include directly incurred expenses for occupancy and equipment, marketing and business development, technology and information services, professional services, fund administration and outsourced services and indirect support costs (including compensation and other operating expenses related thereto) for administrative services. Such administrative services include, but are not limited to, accounting, tax, human resources, legal, facilities management and senior management activities.
Management evaluates segment results based on net revenue and operating income (loss) and believes that the following information provides a reasonable representation of each segment’s contribution with respect to net revenue, operating income (loss) and total assets:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Financial AdvisoryNet Revenue$266,048 $456,521 $896,099 $1,254,621 
Operating Expenses295,609 341,578 1,063,789 956,410 
Operating Income (Loss)$(29,561)$114,943 $(167,690)$298,211 
Asset ManagementNet Revenue$284,855 $298,797 $857,212 $926,449 
Operating Expenses232,011 233,614 749,281 707,676 
Operating Income$52,844 $65,183 $107,931 $218,773 
CorporateNet Revenue (Loss)$(26,985)$(28,574)$(43,843)$(119,888)
Operating Expenses (Credit)1,155 (6,590)48,252 (46,612)
Operating Loss$(28,140)$(21,984)$(92,095)$(73,276)
TotalNet Revenue$523,918 $726,744 $1,709,468 $2,061,182 
Operating Expenses528,775 568,602 1,861,322 1,617,474 
Operating Income (Loss)$(4,857)$158,142 $(151,854)$443,708 
As Of
September 30, 2023December 31, 2022
Total Assets
Financial Advisory$1,036,825 $1,099,921 
Asset Management828,890 978,083 
Corporate2,429,791 3,774,557 
Total$4,295,506 $5,852,561