CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 966,357	$ 711,584
Cash segregated under regulatory requirements	19,409	21,689
Financial instruments owned, at fair value	179,730	186,197
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers	1,279,425	365,490
Accrued commissions and other receivables, net	401,539	324,213
Loans, forgivable loans and other receivables from employees and partners, net	404,569	360,060
Fixed assets, net	189,474	190,012
Investments	41,644	39,267
Goodwill	540,666	540,290
Other intangible assets, net	235,957	240,910
Receivables from related parties	5,813	7,323
Other assets	619,893	604,932
Total assets	4,884,476	3,591,967
Liabilities, Redeemable Partnership Interest, and Equity
Accrued compensation	189,222	227,869
Payables to broker-dealers, clearing organizations, customers and related broker-dealers	1,113,821	225,377
Payables to related parties	53,722	28,960
Accounts payable, accrued and other liabilities	696,120	692,982
Notes payable and other borrowings	1,688,640	1,337,540
Total liabilities	3,741,525	2,512,728
Commitments, contingencies and guarantees (Note 19)
Stockholders’ equity:
Additional paid-in capital	2,348,207	2,311,104
Treasury stock, at cost: 53,252,366 and 50,064,152 shares of Class A common stock at March 31, 2025 and December 31, 2024, respectively	(355,084)	(331,728)
Retained deficit	(981,052)	(1,026,359)
Accumulated other comprehensive income (loss)	(53,696)	(59,849)
Total stockholders’ equity	963,784	898,507
Noncontrolling interest in subsidiaries	179,167	180,732
Total equity	1,142,951	1,079,239
Total liabilities, redeemable partnership interest, and equity	4,884,476	3,591,967
Class A Common Stock
Stockholders’ equity:
Common stock value	4,314	4,244
Class B Common Stock
Stockholders’ equity:
Common stock value	$ 1,095	$ 1,095