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Segment Information | 12 Months Ended
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Dec. 31, 2014
Segment Information | 14. Segment Information The Group uses the management approach to determine operating segments. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. The Group’s CODM has been identified as the chief executive officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. During the past two years, the Group has gradually transitioned from a wealth management consulting services provider to an integrated financial group with capabilities in wealth management, asset management and internet finance. In order to better reflect such transition, the Group has adjusted its internal organizational and corporate structures in the fourth quarter of 2014. The segment information has been adjusted accordingly to present the operating results by three reportable segments: wealth management, asset management and internet finance. Prior year comparable information has been updated to reflect the new reportable segments. The Group’s CODM does not review balance sheet information of the segments. Segment information of the Group’s business is as follow:
|  | Years Ended December 31, 2012 |
|  | Wealth Management Business |  |  | Assets Management Business |  |  | Internet Finance Business |  |  | Total |
|  | $ |  |  | $ |  |  | $ |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-time commissions |  |  | 39,486,943 |  |  |  | — |  |  |  | — |  |  |  | 39,486,943 |
Recurring service fees |  |  | 25,062,455 |  |  |  | 259,527 |  |  |  | — |  |  |  | 25,321,982 |
Other service fees |  |  | 971,923 |  |  |  | — |  |  |  | — |  |  |  | 971,923 |
Total third-party revenues |  |  | 65,521,321 |  |  |  | 259,527 |  |  |  | — |  |  |  | 65,780,848 |
One-time commissions |  |  | 9,392,131 |  |  |  | — |  |  |  | — |  |  |  | 9,392,131 |
Recurring service fees |  |  | 12,612,020 |  |  |  | 3,978,573 |  |  |  | — |  |  |  | 16,590,593 |
Other service fees |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total related party revenues |  |  | 22,004,151 |  |  |  | 3,978,573 |  |  |  | — |  |  |  | 25,982,724 |
Total revenues |  |  | 87,525,472 |  |  |  | 4,238,100 |  |  |  | — |  |  |  | 91,763,572 |
Less: business taxes and related surcharges |  |  | (4,833,186 | ) |  |  | (234,880 | ) |  |  | — |  |  |  | (5,068,066 | )
Net revenues |  |  | 82,692,286 |  |  |  | 4,003,220 |  |  |  | — |  |  |  | 86,695,506 |
Operating cost and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Relationship Manager Compensation |  |  | (17,551,483 | ) |  |  | — |  |  |  | — |  |  |  | (17,551,483 | )
Performance Fee Compensation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other Compensations |  |  | (22,810,897 | ) |  |  | (2,012,549 | ) |  |  | — |  |  |  | (24,823,446 | )
Total compensation and benefits |  |  | (40,362,380 | ) |  |  | (2,012,549 | ) |  |  | — |  |  |  | (42,374,929 | )
Selling expenses |  |  | (13,407,087 | ) |  |  | (42,334 | ) |  |  | — |  |  |  | (13,449,421 | )
General and administrative expenses |  |  | (8,385,882 | ) |  |  | (515,448 | ) |  |  | — |  |  |  | (8,901,330 | )
Other operating expenses |  |  | (414,959 | ) |  |  | (4,863 | ) |  |  | — |  |  |  | (419,822 | )
Government subsidies |  |  | 4,295,029 |  |  |  | — |  |  |  | — |  |  |  | 4,295,029 |
Total operating cost and expenses |  |  | (58,275,279 | ) |  |  | (2,575,194 | ) |  |  | — |  |  |  | (60,850,473 | )
Income from operations |  |  | 24,417,007 |  |  |  | 1,428,026 |  |  |  | — |  |  |  | 25,845,033 |
|  | Years Ended December 31, 2013 |
|  | Wealth Management Business |  |  | Assets Management Business |  |  | Internet Finance Business |  |  | Total |
|  | $ |  |  | $ |  |  | $ |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-time commissions |  |  | 57,760,283 |  |  |  | 212,326 |  |  |  | — |  |  |  | 57,972,609 |
Recurring service fees |  |  | 28,434,140 |  |  |  | 4,517,205 |  |  |  | — |  |  |  | 32,951,345 |
Other service fees |  |  | 4,944,510 |  |  |  | 120,603 |  |  |  | — |  |  |  | 5,065,113 |
Total third-party revenues |  |  | 91,138,933 |  |  |  | 4,850,134 |  |  |  | — |  |  |  | 95,989,067 |
One-time commissions |  |  | 20,404,683 |  |  |  | 436,911 |  |  |  | — |  |  |  | 20,841,594 |
Recurring service fees |  |  | 37,492,722 |  |  |  | 18,015,713 |  |  |  | — |  |  |  | 55,508,435 |
Other service fees |  |  | 190,912 |  |  |  | 788,927 |  |  |  | — |  |  |  | 979,839 |
Total related party revenues |  |  | 58,088,317 |  |  |  | 19,241,551 |  |  |  | — |  |  |  | 77,329,868 |
Total revenues |  |  | 149,227,250 |  |  |  | 24,091,685 |  |  |  | — |  |  |  | 173,318,935 |
Less: business taxes and related surcharges |  |  | (8,237,942 | ) |  |  | (1,309,160 | ) |  |  | — |  |  |  | (9,547,102 | )
Net revenues |  |  | 140,989,308 |  |  |  | 22,782,525 |  |  |  | — |  |  |  | 163,771,833 |
Operating cost and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Relationship Manager Compensation |  |  | (33,362,053 | ) |  |  | (74,813 | ) |  |  | — |  |  |  | (33,436,866 | )
Performance Fee Compensation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other Compensations |  |  | (31,077,968 | ) |  |  | (8,528,786 | ) |  |  | — |  |  |  | (39,606,754 | )
Total compensation and benefits |  |  | (64,440,021 | ) |  |  | (8,603,599 | ) |  |  | — |  |  |  | (73,043,620 | )
Selling expenses |  |  | (15,117,644 | ) |  |  | (1,542,400 | ) |  |  | — |  |  |  | (16,660,044 | )
General and administrative expenses |  |  | (14,037,239 | ) |  |  | (4,049,945 | ) |  |  | — |  |  |  | (18,087,184 | )
Other operating expenses |  |  | (694,460 | ) |  |  | (39,840 | ) |  |  | — |  |  |  | (734,300 | )
Government subsidies |  |  | 4,997,145 |  |  |  | 326,525 |  |  |  | — |  |  |  | 5,323,670 |
Total operating cost and expenses |  |  | (89,292,219 | ) |  |  | (13,909,259 | ) |  |  | — |  |  |  | (103,201,478 | )
Income from operations |  |  | 51,697,089 |  |  |  | 8,873,266 |  |  |  | — |  |  |  | 60,570,355 |
|  | Years Ended December 31, 2014 |
|  | Wealth Management Business |  |  | Assets Management Business |  |  | Internet Finance Business |  |  | Total |
|  | $ |  |  | $ |  |  | $ |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-time commissions |  |  | 68,698,354 |  |  |  | — |  |  |  | — |  |  |  | 68,698,354 |
Recurring service fees |  |  | 39,462,923 |  |  |  | 12,429,215 |  |  |  | — |  |  |  | 51,892,138 |
Other service fees |  |  | 3,491,867 |  |  |  | 2,655,721 |  |  |  | 2,716,889 |  |  |  | 8,864,477 |
Total third-party revenues |  |  | 111,653,144 |  |  |  | 15,084,936 |  |  |  | 2,716,889 |  |  |  | 129,454,969 |
One-time commissions |  |  | 29,322,581 |  |  |  | — |  |  |  | — |  |  |  | 29,322,581 |
Recurring service fees |  |  | 55,589,582 |  |  |  | 35,291,220 |  |  |  | 4,867 |  |  |  | 90,885,669 |
Other service fees |  |  | 407,565 |  |  |  | 12,038,725 |  |  |  | 139,052 |  |  |  | 12,585,342 |
Total related party revenues |  |  | 85,319,728 |  |  |  | 47,329,945 |  |  |  | 143,919 |  |  |  | 132,793,592 |
Total revenues |  |  | 196,972,872 |  |  |  | 62,414,881 |  |  |  | 2,860,808 |  |  |  | 262,248,561 |
Less: business taxes and related surcharges |  |  | (11,129,939 | ) |  |  | (3,127,877 | ) |  |  | (122,653 | ) |  |  | (14,380,469 | )
Net revenues |  |  | 185,842,933 |  |  |  | 59,287,004 |  |  |  | 2,738,155 |  |  |  | 247,868,092 |
Operating cost and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Relationship Manager Compensation |  |  | (51,843,587 | ) |  |  | (38,246 | ) |  |  | (365,110 | ) |  |  | (52,246,943 | )
Performance Fee Compensation |  |  | — |  |  |  | (3,536,240 | ) |  |  | — |  |  |  | (3,536,240 | )
Other Compensations |  |  | (34,851,929 | ) |  |  | (20,282,224 | ) |  |  | (8,692,736 | ) |  |  | (63,826,889 | )
Total compensation and benefits |  |  | (86,695,516 | ) |  |  | (23,856,710 | ) |  |  | (9,057,846 | ) |  |  | (119,610,072 | )
Selling expenses |  |  | (21,951,311 | ) |  |  | (1,583,422 | ) |  |  | (361,887 | ) |  |  | (23,896,620 | )
General and administrative expenses |  |  | (12,117,434 | ) |  |  | (9,755,093 | ) |  |  | (2,739,353 | ) |  |  | (24,611,880 | )
Other operating expenses |  |  | (3,836,816 | ) |  |  | (272,047 | ) |  |  | (752,837 | ) |  |  | (4,861,700 | )
Government subsidies |  |  | 10,943,240 |  |  |  | 3,844,512 |  |  |  | 4,390 |  |  |  | 14,792,142 |
Total operating cost and expenses |  |  | (113,657,837 | ) |  |  | (31,622,760 | ) |  |  | (12,907,533 | ) |  |  | (158,188,130 | )
Income from operations |  |  | 72,185,096 |  |  |  | 27,664,244 |  |  |  | (10,169,378 | ) |  |  | 89,679,962 |
Substantially all of the Group’s revenues are derived from, and its assets are located in, the PRC and Hong Kong.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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