Revenues from contracts with customers (Tables)

6 Months Ended

Jun. 30, 2021

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 six months ended June 30, 2021 and 2020:


(Expressed in thousands)	For the Three Months Ended June 30, 2021
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	44,510	$	—	$	42,407	$	4	$	86,921
Mutual fund income	9,243		—		2		5		9,250
Advisory fees	85,598		25,541		—		13		111,152
Investment banking - capital markets	5,770		—		48,208		—		53,978
Investment banking - advisory	250		—		50,514		—		50,764
Bank deposit sweep income	3,712		—		—		—		3,712
Other	4,474		—		202		19		4,695
Total revenue from contracts with customers	153,557		25,541		141,333		41		320,472
Other sources of revenue:
Interest	7,235		—		1,666		8		8,909
Principal transactions, net	1,546		—		4,878		(119)		6,305
Other	4,525		3		68		11		4,607
Total other sources of revenue	13,306		3		6,612		(100)		19,821
Total revenue	$	166,863	$	25,544	$	147,945	$	(59)	$	340,293


(Expressed in thousands)	For the Three Months Ended June 30, 2020
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	41,805	$	—	$	51,337	$	—	$	93,142
Mutual fund income	8,490		—		2		3		8,495
Advisory fees	58,465		17,507		—		10		75,982
Investment banking - capital markets	3,470		—		35,472		—		38,942
Investment banking - advisory	—		—		7,244		—		7,244
Bank deposit sweep income	7,122		—		—		—		7,122
Other	3,132		—		646		4		3,782
Total revenue from contracts with customers	122,484		17,507		94,701		17		234,709
Other sources of revenue:
Interest	5,134		5		1,027		54		6,220
Principal transactions, net	2,656		—		9,512		(104)		12,064
Other	11,551		3		30		153		11,737
Total other sources of revenue	19,341		8		10,569		103		30,021
Total revenue	$	141,825	$	17,515	$	105,270	$	120	$	264,730

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
	June 30, 2021		December 31, 2020
Contract assets (receivables):
Commission (1)	$	2,926	$	3,107
Mutual fund income (2)	6,330		5,989
Advisory fees (3)	1,959		1,590
Bank deposit sweep income (4)	651		687
Investment banking fees (5)	16,690		16,119
Other	3,689		3,324
Total contract assets	$	32,245	$	30,816
Deferred revenue (payables):
Investment banking fees (6)	$	481	$	613
IRA fees (7)	1,145		—
Total deferred revenue	$	1,626	$	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 received from certain advisory transactions where the performance

obligations have not yet been satisfied.

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