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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 30,655 $ 25,744
Non-cash items included in net income:    
Depreciation and amortization of furniture, equipment and leasehold improvements 2,785 2,643
Deferred income taxes 2,600 3,004
Amortization of intangible assets 166 76
Amortization of notes receivable 4,520 4,426
Amortization of debt issuance costs 0 55
Provision for credit losses (10) 4
Share-based compensation 716 1,736
Amortization of right-of-use lease assets 6,333 6,478
Decrease (increase) in operating assets:    
Deposits with clearing organizations 3,087 (15,310)
Receivable from brokers, dealers and clearing organizations (8,830) 24,225
Receivable from customers (81,062) (119,812)
Income tax receivable 396 1,444
Securities purchased under agreements to resell 0 1,752
Securities owned (109,482) (248,777)
Notes receivable (4,320) (8,675)
Corporate-owned life insurance 1,841  
Corporate-owned life insurance   (6,252)
Other assets 2,829 (18,581)
Increase (decrease) in operating liabilities:    
Drafts payable (6,330) 12,457
Payable to brokers, dealers and clearing organizations 130,654 135,476
Payable to customers (29,537) 78,340
Securities sold under agreements to repurchase (65,341) (353,927)
Securities sold but not yet purchased 178,996 489,256
Accrued compensation (147,150) (93,310)
Income tax payable 7,460 6,515
Accounts payable and other liabilities (12,716) (8,035)
Cash provided by (used in) operating activities (91,740) (79,048)
Cash flows from investing activities    
Purchase of furniture, equipment and leasehold improvements (1,681) (258)
Proceeds from the settlement of Company-owned life insurance 1,322 0
Cash used in investing activities (359) (258)
Cash flows from financing activities    
Cash dividends paid on Class A non-voting and Class B voting common stock (1,895) (1,576)
Repurchase of Class A non-voting common stock for cancellation (90) (8,384)
Payments for employee taxes withheld related to vested share-based awards (9,770) (6,758)
Redemption of redeemable noncontrolling interests 0 500
Increase in bank call loans 107,400 94,350
Cash provided by financing activities 95,645 78,132
Net increase (decrease) in cash and cash equivalents 3,546 (1,174)
Cash and cash equivalents, beginning of period 33,150 28,835
Cash and cash equivalents, end of period 36,696 27,661
Reconciliation of cash and cash equivalents within the condensed consolidated balance sheets:    
Cash and cash equivalents 36,696 27,661
Total cash and cash equivalents 36,696 27,661
Schedule of non-cash financing activities    
Employee share plan issuance 10,277 13,368
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 20,630 21,399
Cash paid during the period for income taxes, net $ 289 $ 769