Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Advisory revenues	$ 349,800	$ 237,997	$ 334,787
Investment revenues	2,185	1,185	732
Total revenues	351,985	239,182	335,519
Operating Expenses
Employee compensation and benefits	195,195	160,201	182,478
Occupancy and equipment rental	21,933	20,713	19,553
Depreciation and amortization	2,870	3,114	3,243
Information services	9,898	9,529	8,920
Professional fees	10,465	8,212	6,851
Travel related expenses	13,483	13,142	11,912
Other operating expenses	17,273	17,371	11,454
Total operating expenses	271,117	232,282	244,411
Total operating income	80,868	6,900	91,108
Interest expense	22,438	7,198	3,227
Income (loss) before taxes	58,430	(298)	87,881
Provision for taxes	19,208	26,353	27,119
Net income (loss)	$ 39,222	$ (26,651)	$ 60,762
Average shares outstanding:
Basic (shares)	26,813,285	32,074,894	32,042,594
Diluted (shares)	27,637,720	32,074,894	32,074,232
Earnings (loss) per share:
Basic (usd per share)	$ 1.46	$ (0.83)	$ 1.90
Diluted (usd per share)	$ 1.42	$ (0.83)	$ 1.89