Current Expected Credit Losses (CECL) (Tables)

9 Months Ended

Sep. 30, 2025

Credit Loss [Abstract]

Schedule of Current Expected Credit Losses

During the three and nine months ended September 30, 2025 and 2024, the Company recorded changes in the allowance for credit losses as follows (in millions):

	Accrued commissions and other receivables, net		Loans, forgivable loans and other receivables from employees and partners, net		Receivables from broker-dealers, clearing organizations, customers and related broker-dealers		Total
Beginning balance, July 1, 2025	$	7.1	$	—	$	18.1	$	25.2
Current-period provision for expected credit losses	—		—		(0.4)		(0.4)
Ending balance, September 30, 2025	$	7.1	$	—	$	17.7	$	24.8

	Accrued commissions and other receivables, net		Loans, forgivable loans and other receivables from employees and partners, net		Receivables from broker-dealers, clearing organizations, customers and related broker-dealers		Total
Beginning balance, January 1, 2025	$	6.2	$	—	$	21.0	$	27.2
Current-period provision for expected credit losses	0.9		—		0.7		1.6
Release of allowance for expected credit losses	—		—		(4.0)		(4.0)
Ending balance, September 30, 2025	$	7.1	$	—	$	17.7	$	24.8

	Accrued commissions and other receivables, net		Loans, forgivable loans and other receivables from employees and partners, net		Receivables from broker-dealers, clearing organizations, customers and related broker-dealers		Total
Beginning balance, July 1, 2024	$	6.0	$	—	$	21.7	$	27.7
Current-period provision for expected credit losses	0.1		—		(0.2)		(0.1)
Ending balance, September 30, 2024	$	6.1	$	—	$	21.5	$	27.6

	Accrued commissions and other receivables, net		Loans, forgivable loans and other receivables from employees and partners, net		Receivables from broker-dealers, clearing organizations, customers and related broker-dealers		Total
Beginning balance, January 1, 2024	$	5.0	$	2.3	$	18.9	$	26.2
Current-period provision for expected credit losses	$	1.1	$	—	$	2.6	$	3.7
Release for allowance for expected credit losses	$	—	$	(2.3)	$	—	$	(2.3)
Ending balance, September 30, 2024	$	6.1	$	—	$	21.5	$	27.6