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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value | The following tables present the Company's fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of the periods presented.
|  | As of March 31, 2022
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and securities segregated for regulatory purposes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government securities* |  | $ | 97,655,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 97,655,000 |
Securities owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government securities** |  | $ | 2,860,000 |  |  | $ | 172,000 |  |  | $ | — |  |  | $ | 3,032,000 |
Certificates of deposit |  |  | — |  |  |  | 91,000 |  |  |  | — |  |  |  | 91,000 |
Municipal securities |  |  | — |  |  |  | 10,000 |  |  |  | — |  |  |  | 10,000 |
Corporate bonds |  |  | — |  |  |  | 11,000 |  |  |  | — |  |  |  | 11,000 |
Options |  |  | 1,000 |  |  |  | — |  |  |  | — |  |  |  | 1,000 |
Equity securities |  |  | 116,000 |  |  |  | 139,000 |  |  |  | — |  |  |  | 255,000 |
Total Securities owned, at fair value |  | $ | 2,977,000 |  |  | $ | 423,000 |  |  | $ | — |  |  | $ | 3,400,000 |
Other equity investment in related party, at fair value |  | $ | — |  |  | $ | — |  |  | $ | 1,036,000 |  |  | $ | 1,036,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold, not yet purchased, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | — |  |  | $ | 27,000 |  |  | $ | — |  |  | $ | 27,000 |
UITs |  |  | — |  |  |  | 25,000 |  |  |  | — |  |  |  | 25,000 |
Total Securities sold, not yet purchased, at fair value |  | $ | — |  |  | $ | 52,000 |  |  | $ | — |  |  | $ | 52,000 |
|  | As of December 31, 2021
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government securities** |  | $ | 2,966,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,966,000 |
Certificates of deposit |  |  | — |  |  |  | 91,000 |  |  |  | — |  |  |  | 91,000 |
Corporate bonds |  |  | — |  |  |  | 12,000 |  |  |  | — |  |  |  | 12,000 |
Equity securities |  |  | 489,000 |  |  |  | 433,000 |  |  |  | — |  |  |  | 922,000 |
Total Securities owned, at fair value |  | $ | 3,455,000 |  |  | $ | 536,000 |  |  | $ | — |  |  | $ | 3,991,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold, not yet purchased, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | — |  |  | $ | 24,000 |  |  | $ | — |  |  | $ | 24,000 |
Total Securities sold, not yet purchased, at fair value |  | $ | — |  |  | $ | 24,000 |  |  | $ | — |  |  | $ | 24,000 |
*As of March 31, 2022, the Company had U.S. government securities with market values of approximately $9.9 million, $63.4 million, and $24.4 million and corresponding maturity dates of August 31, 2023, December 31, 2023 and January 31, 2024, respectively. As of December 31, 2021, the Company did not have any U.S. government securities classified as cash and securities segregated for regulatory purposes. **As of both March 31, 2022 and December 31, 2021, the U.S. government securities had a maturity date of August 15, 2024.
Schedule of Changes in Level 3 Investments | The table below summarizes the total carrying value of Level 3 equity assets and changes made during the periods presented. -9- Changes in Level 3 Investments
|  | Three Months Ended March 31, 2022
|  | Amount |
Balance – January 1, 2022 | $ | — |
Purchases |  | 1,000,000 |
Unrealized gain |  | 36,000 |
Balance – March 31, 2022 | $ | 1,036,000 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of financial instruments held by a broker-dealer for its own account (proprietary securities) for trading or investment purposes that are carried at fair value including securities sold, not yet purchased. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=35711157&loc=d3e42546-110969 + Details
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