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Revenues from contracts with customers (Tables)

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the three months ended March 31, 2021 and 2020:

(Expressed in thousands)			For the Three Months Ended March 31, 2021
			Reportable Segments
			Private Client						Asset Management						Capital Markets						Corporate/Other						Total
Revenue from contracts with customers:
Commissions from sales and trading			$	48,398					$	—					$	55,800					$	(3)					$	104,195
Mutual fund income			9,198						—						2						76						9,276
Advisory fees			80,254						24,227						3						12						104,496
Investment banking - capital markets			8,510						—						80,069						—						88,579
Investment banking - advisory			—						—						35,922						—						35,922
Bank deposit sweep income			4,008						—						—						—						4,008
Other			3,120						—						559						14						3,693
Total revenue from contracts with customers			153,488						24,227						172,355						99						350,169
Other sources of revenue:
Interest			6,476						—						2,152						38						8,666
Principal transactions, net			630						—						8,954						1,281						10,865
Other			3,429						3						138						12						3,582
Total other sources of revenue			10,535						3						11,244						1,331						23,113
Total revenue			$	164,023					$	24,230					$	183,599					$	1,430					$	373,282

(Expressed in thousands)			For the Three Months Ended March 31, 2020
			Reportable Segments
			Private Client						Asset Management						Capital Markets						Corporate/Other						Total
Revenue from contracts with customers:
Commissions from sales and trading			$	47,105					$	—					$	46,287					$	20					$	93,412
Mutual fund income			9,827						3						3						4						9,837
Advisory fees			66,883						19,270						2						9						86,164
Investment banking - capital markets			3,950						—						11,942						—						15,892
Investment banking - advisory			—						—						9,836						—						9,836
Bank deposit sweep income			18,826						—						—						—						18,826
Other			3,131						—						640						101						3,872
Total revenue from contracts with customers			149,722						19,273						68,710						134						237,839
Other sources of revenue:
Interest			7,680						—						2,824						386						10,890
Principal transactions, net			(2,715)						—						3,984						(2,137)						(868)
Other			(13,269)						3						24						151						(13,091)
Total other sources of revenue			(8,304)						3						6,832						(1,600)						(3,069)
Total revenue			$	141,418					$	19,276					$	75,542					$	(1,466)					$	234,770

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)			As of
			March 31, 2021						December 31, 2020
Contract assets (receivables):
Commission (1)			$	5,601					$	3,107
Mutual fund income (2)			6,222						5,989
Advisory fees (3)			2,873						1,590
Bank deposit sweep income (4)			670						687
Investment banking fees (5)			29,398						16,119
Other			4,185						3,324
Total contract assets			$	48,949					$	30,816
Deferred revenue (payables):
Investment banking fees (6)			$	528					$	613
IRA fees (7)			1,718						—
Total deferred revenue			$	2,246					$	613

(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 fees earned but not yet received.

(6)Retainer fees and fees earned from certain advisory transactions where the performance

obligations have not yet been satisfied.

(7)Fee received in advance on an annual basis.

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

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X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

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- References

No definition available.

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