Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The components of goodwill and other intangible assets at December 31, 2023 and 2022 are presented below:


	December 31,
	2023		2022
Goodwill	$	394,898	$	377,240
Other intangible assets (net of accumulated amortization)	30		90
	$	394,928	$	377,330

Changes in the carrying amount of goodwill for the years ended December 31, 2023, 2022 and 2021 are as follows:


	Year Ended December 31,
	2023						2022						2021
	Financial Advisory		Asset Management		Total		Financial Advisory		Asset Management		Total		Financial Advisory		Asset Management		Total
Balance, January 1	$	312,699	$	64,541	$	377,240	$	314,880	$	64,541	$	379,421	$	319,320	$	64,541	$	383,861
Acquisition of business	–		16,729		16,729		–		–		–		–		–		–
Foreign currency translation adjustments	929		–		929		(2,181)		–		(2,181)		(4,440)		–		(4,440)
Balance, December 31	$	313,628	$	81,270	$	394,898	$	312,699	$	64,541	$	377,240	$	314,880	$	64,541	$	379,421

The Company tests goodwill for impairment annually or more frequently if circumstances indicate that impairment may have occurred. Pursuant to the Company’s goodwill impairment tests for the years ended December 31, 2023, 2022 and 2021, the Company determined that no impairment existed.

Amortization expense of intangible assets, included in “amortization and other acquisition-related costs” in the consolidated statements of operations, for the years ended December 31, 2023, 2022 and 2021 was $60, $60 and $60, respectively.