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Revenue from contracts with customers (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of 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, 2024 and 2023:

(Expressed in thousands)			For the Three Months Ended March 31, 2024
			Reportable Segments
			Private Client						Asset Management						Capital Markets						Corporate/Other						Total
Revenue from contracts with customers:
Commissions from sales and trading			$	44,930					$	—					$	43,045					$	5					$	87,980
Mutual fund and insurance income			7,864						—						1						5						7,870
Advisory fees			88,876						25,960						—						11						114,847
Investment banking - capital markets			3,021						—						15,627						—						18,648
Investment banking - advisory			21						—						31,868						—						31,889
Bank deposit sweep income			36,685						—						—						—						36,685
Other			3,416						—						320						980						4,716
Total revenue from contracts with customers			184,813						25,960						90,861						1,001						302,635
Other sources of revenue:
Interest			20,196						—						4,303						2,267						26,766
Principal transactions, net			1,736						—						16,733						(235)						18,234
Other			6,288						(1,032)						186						61						5,503
Total other sources of revenue			28,220						(1,032)						21,222						2,093						50,503
Total revenue			$	213,033					$	24,928					$	112,083					$	3,094					$	353,138

(Expressed in thousands)			For the Three Months Ended March 31, 2023
			Reportable Segments
			Private Client						Asset Management						Capital Markets						Corporate/Other						Total
Revenue from contracts with customers:
Commissions from sales and trading			$	38,924					$	—					$	40,047					$	6					$	78,977
Mutual fund and insurance income			7,712						—						4						4						7,720
Advisory fees			76,583						23,954						—						7						100,544
Investment banking - capital markets			1,787						—						8,241						—						10,028
Investment banking - advisory			—						—						27,937						—						27,937
Bank deposit sweep income			48,909						—						—						—						48,909
Other			3,993						—						506						97						4,596
Total revenue from contracts with customers			177,908						23,954						76,735						114						278,711
Other sources of revenue:
Interest			20,579						—						3,029						1,333						24,941
Principal transactions, net			1,049						—						10,404						2,037						13,490
Other			3,885						5						114						533						4,537
Total other sources of revenue			25,513						5						13,547						3,903						42,968
Total revenue			$	203,421					$	23,959					$	90,282					$	4,017					$	321,679

Schedule of Contract with Customer, Asset and Liability

(Expressed in thousands)			As of
			March 31, 2024						December 31, 2023
Receivables
Commission (1)			$	5,388					$	4,554
Mutual fund income (2)			5,479						5,365
Advisory fees (3)			4,191						5,746
Bank deposit sweep income (4)			4,966						5,223
Investment banking fees (5)			21,181						12,847
Other			8,464						6,126
Total receivables			$	49,669					$	39,861
Deferred revenue (payables):
Investment Banking fees (6)			$	807					$	1,118
Software license fees (7)			607						—
			$	1,414					$	1,118

(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)Software license fees received upfront from customers and recognized ratably over the contract period

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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

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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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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- References

No definition available.

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