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Current Expected Credit Losses (CECL) | 6 Months Ended
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Jun. 30, 2022
Credit Loss [Abstract] |
Current Expected Credit Losses (CECL) | Current Expected Credit Losses (CECL) The CECL reserve reflects management’s current estimate of potential credit losses related to the receivable balances included in the Company’s unaudited Condensed Consolidated Statements of Financial Condition. See Note 3—“Summary of Significant Accounting Policies” for further discussion of the CECL reserve methodology. As required, any subsequent changes to the CECL reserve are recognized in “Net income (loss) available to common stockholders” in the Company’s unaudited Condensed Consolidated Statements of Operations. During the three and six months ended June 30, 2022 and 2021, the Company recorded increases in the CECL reserve as follows (in millions):
| Accrued commissions and other receivables, net |  | Loans, forgivable loans and other receivables from employees and partners, net |  | Receivables from broker-dealers, clearing organizations, customers and related broker-dealers |  | Total
Beginning balance, April 1, 2022 | $ | 1.6 |  |  | $ | 2.1 |  |  | $ | 5.5 |  |  | $ | 9.2 |
Current-period provision for expected credit losses | $ | 3.2 |  |  | $ | 1.2 |  |  | $ | 1.4 |  |  | $ | 5.8 |
Ending balance, June 30, 2022 | $ | 4.8 |  |  | $ | 3.3 |  |  | $ | 6.9 |  |  | $ | 15.0 |
| Accrued commissions and other receivables, net |  | Loans, forgivable loans and other receivables from employees and partners, net |  | Receivables from broker-dealers, clearing organizations, customers and related broker-dealers |  | Total
Beginning balance, January 1, 2022 | $ | 0.7 |  |  | $ | 1.7 |  |  | $ | — |  |  | $ | 2.4 |
Current-period provision for expected credit losses | $ | 4.1 |  |  | $ | 1.6 |  |  | $ | 6.9 |  |  | $ | 12.6 |
Ending balance, June 30, 2022 | $ | 4.8 |  |  | $ | 3.3 |  |  | $ | 6.9 |  |  | $ | 15.0 |
| Accrued commissions and other receivables, net |  | Loans, forgivable loans and other receivables from employees and partners, net |  | Receivables from broker-dealers, clearing organizations, customers and related broker-dealers |  | Total
Beginning balance, April 1, 2021 | $ | 1.0 |  |  | $ | 1.8 |  |  | $ | — |  |  | $ | 2.8 |
Current-period provision for expected credit losses | $ | — |  |  | $ | (0.1) |  |  | $ | — |  |  | $ | (0.1) |
Ending balance, June 30, 2021 | $ | 1.0 |  |  | $ | 1.7 |  |  | $ | — |  |  | $ | 2.7 |
| Accrued commissions and other receivables, net |  | Loans, forgivable loans and other receivables from employees and partners, net |  | Receivables from broker-dealers, clearing organizations, customers and related broker-dealers |  | Total
Beginning balance, January 1, 2021 | $ | 1.0 |  |  | $ | 1.6 |  |  | $ | — |  |  | $ | 2.6 |
Current-period provision for expected credit losses | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 0.1 |
Ending balance, June 30, 2021 | $ | 1.0 |  |  | $ | 1.7 |  |  | $ | — |  |  | $ | 2.7 |
For the three months ended June 30, 2022, there was an increase of $3.2 million in the CECL reserve against “Accrued commissions and other receivables, net” which reflected the downward credit rating migration of certain receivables in the portfolio. For the six months ended June 30, 2022, there was an increase of $4.1 million in the CECL reserve against "Accrued commissions and other receivables, net" which reflected the downward credit rating migration of certain receivables in the portfolio, which included a $3.9 million reserve related to Russia's Invasion of Ukraine, bringing the CECL reserve recorded pertaining to “Accrued commissions and other receivables, net” to $4.8 million as of June 30, 2022. There was no change in the CECL reserve recorded pertaining to “Accrued Commissions and other receivables, net” for the three and six months ended June 30, 2021. For the three months ended June 30, 2022 and 2021, there was an increase of $1.2 million and decrease of $0.1 million, respectively, in the CECL reserve record pertaining to “Loans, forgivable loans and other receivables from employees and partners, net” as a result of employee terminations. For the six months ended June 30, 2022 and 2021, there was an increase of $1.6 million and $0.1 million, respectively, in the CECL reserve pertaining to "Loans, forgivable loans and other receivables from employees and partners, net" as a result of employee terminations, bringing the CECL reserve recorded pertaining to “Loans, forgivable loans and other receivables from employees and partners, net” to $3.3 million as of June 30, 2022. For the three months ended June 30, 2022, there was an increase of $1.4 million in the CECL reserve against “Receivables from broker-dealers, clearing organizations, customers and related broker-dealers” which reflected the downward credit rating migration of certain unsettled trades related to Russia's Invasion of Ukraine. For the six months ended June 30, 2022, there was an increase of $6.9 million in the CECL reserve against “Receivables from broker-dealers, clearing organizations, customers and related broker-dealers” which reflected the downward credit rating migration of certain unsettled trades related to Russia's Invasion of Ukraine, bringing the CECL reserve recorded pertaining to “Receivables from broker-dealers, clearing organizations, customers and related broker-dealers” to $6.9 million as of June 30, 2022. There was no change in the CECL reserve recorded pertaining to “Receivables from broker-dealers, clearing organizations, customers and related broker-dealers” for the three and six months ended June 30, 2021.

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- Definition The entire disclosure for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=124269663&loc=SL82922895-210455 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 21 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919272-210447 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919236-210447 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 20 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919269-210447 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919244-210447 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447 + Details
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