Revenues from contracts with customers (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2021 and 2020:


(Expressed in thousands)	For the Three Months Ended September 30, 2021
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	42,214	$	—	$	39,535	$	(2)	$	81,747
Mutual fund income	9,134		—		2		6		9,142
Advisory fees	89,849		26,890		—		12		116,751
Investment banking - capital markets	5,599		—		29,488		—		35,087
Investment banking - advisory	—		—		51,814		—		51,814
Bank deposit sweep income	3,909		—		—		—		3,909
Other	2,765		—		196		10		2,971
Total revenue from contracts with customers	153,470		26,890		121,035		26		301,421
Other sources of revenue:
Interest	7,624		—		1,631		85		9,340
Principal transactions, net	(189)		—		5,804		(1,121)		4,494
Other	(41)		4		115		9		87
Total other sources of revenue	7,394		4		7,550		(1,027)		13,921
Total revenue	$	160,864	$	26,894	$	128,585	$	(1,001)	$	315,342


(Expressed in thousands)	For the Three Months Ended September 30, 2020
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	40,742	$	—	$	43,389	$	3	$	84,134
Mutual fund income	8,097		—		2		8		8,107
Advisory fees	67,949		20,634		—		12		88,595
Investment banking - capital markets	3,962		—		31,577		—		35,539
Investment banking - advisory	—		—		30,706		—		30,706
Bank deposit sweep income	4,619		—		—		—		4,619
Other	5,720		—		32		9		5,761
Total revenue from contracts with customers	131,089		20,634		105,706		32		257,461
Other sources of revenue:
Interest	5,939		(5)		1,539		67		7,540
Principal transactions, net	1,223		—		6,357		123		7,703
Other	2,846		3		687		19		3,555
Total other sources of revenue	10,008		(2)		8,583		209		18,798
Total revenue	$	141,097	$	20,632	$	114,289	$	241	$	276,259

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
	September 30, 2021		December 31, 2020
Contract assets (receivables):
Commission (1)	$	2,941	$	3,107
Mutual fund income (2)	6,253		5,989
Advisory fees (3)	1,911		1,590
Bank deposit sweep income (4)	563		687
Investment banking fees (5)	11,693		16,119
Other	5,544		3,324
Total contract assets	$	28,905	$	30,816
Deferred revenue (payables):
Investment banking fees (6)	$	307	$	613
IRA fees (7)	580		—
Total deferred revenue	$	887	$	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.