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Goodwill
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
The following table provides a reconciliation of Goodwill reported on the Consolidated Statement of Financial Position as of December 31, 2025 and December 31, 2024, respectively.
(Dollars in Thousands)As of December 31, 2025As of December 31, 2024
Beginning Balance$377,842 $361,780 
Goodwill recognized in connection with acquisitions542 44,065 
Impairment — (29,367)
Measurement period adjustments439 3,600 
Currency translation and other adjustments$7,143 $(2,236)
$8,124 $16,062 
Ending Balance$385,966 $377,842 
For the year ended December 31, 2024, the Company recognized a $29.4 million impairment to goodwill. The primary drivers of impairment were a decrease in the financial projections resulting from redemption activity, existing levels of AUM, the change in the discount rate for the IMAs, and market multiples for goodwill.
The Company believes that its procedures for estimating the fair value of the reporting units are reasonable and consistent with assumptions that would be used by other marketplace participants. However, such assumptions are inherently uncertain, and a change in assumptions could change the estimated fair value of our reporting units. Future impairments of our indefinite lived intangible assets and reporting units could be required, which could be material to the consolidated financial statements.