Revenues from contracts with customers (Tables)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the three and nine months ended September 30, 2018:



(Expressed in thousands)	For the Three Months Ended September 30, 2018
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other			Total
Revenues from contracts with customers:
Commissions from sales and trading	$	36,553	$	—	$	31,807	$	10		$	68,370
Mutual fund income	11,059		240		4		5			11,308
Advisory fees	60,516		17,627		3		8			78,154
Investment banking - capital markets	2,733		—		15,806		—			18,539
Investment banking - advisory	—		—		9,789		—			9,789
Bank deposit sweep income	30,053		—		—		—			30,053
Other	3,654		3		318		40			4,015
Total revenues from contracts with customers	144,568		17,870		57,727		63			220,228
Other sources of revenue:
Interest	9,469		—		3,678		256			13,403
Principal transactions, net	675		—		6,423		(7,114		)	(16		)
Other	3,371		—		302		526			4,199
Total other sources of revenue	13,515		—		10,403		(6,332		)	17,586
Total revenue	$	158,083	$	17,870	$	68,130	$	(6,269	)	$	237,814



(Expressed in thousands)	For the Nine Months Ended September 30, 2018
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other			Total
Revenues from contracts with customers:
Commissions from sales and trading	$	115,924	$	—	$	96,826	$	87		$	212,837
Mutual fund income	32,327		745		11		15			33,098
Advisory fees	180,426		52,465		57		24			232,972
Investment banking - capital markets	10,572		—		46,398		—			56,970
Investment banking - advisory	—		—		27,472		—			27,472
Bank deposit sweep income	84,203		—		—		—			84,203
Other	11,359		9		750		(6		)	12,112
Total revenues from contracts with customers	434,811		53,219		171,514		120			659,664
Other sources of revenue:
Interest	27,820		1		10,146		719			38,686
Principal transactions, net	807		—		15,804		(7,501		)	9,110
Other	5,292		—		401		1,747			7,440
Total other sources of revenue	33,919		1		26,351		(5,035		)	55,236
Total revenue	$	468,730	$	53,220	$	197,865	$	(4,915	)	$	714,900

Contract with Customer, Asset and Liability

The following presents the Company's contract assets and deferred revenue balances from contracts with customers, which are included in other assets and other liabilities, respectively, on the condensed consolidated balance sheet:



(Expressed in thousands)
	Ending Balance at September 30, 2018		Opening Balance at January 1, 2018
Contract assets (receivables):
Commission ⁽¹⁾	$	2,867	$	2,007
Mutual fund income ⁽²⁾	7,364		7,779
Advisory fees ⁽³⁾	681		1,460
Bank deposit sweep income ⁽⁴⁾	3,849		3,459
Investment banking fees ⁽⁵⁾	5,601		3,926
Other	3,290		—
Total contract assets	$	23,652	$	18,631
Deferred revenue (payables):
Investment banking fees	$	407	$	—
IRA fees	762		—
Total deferred revenue	$	1,169	$	—


(1)	Commission recorded on trade date but not yet settled.


(2)	Mutual fund income earned but not yet received.


(3)	Management and performance fees earned but not yet received.


(4)	Fees earned from FDIC-insured bank deposit program but not yet received.


(5)	Underwriting revenue and advisory fee earned but not yet received.