Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The following table summarizes the changes in the Company’s goodwill and intangible assets:

(in thousands)	Goodwill			Finite-Lived Intangible Assets			Indefinite-Lived Intangible Assets
Balance at January 1, 2018	$	19,034		$	95		$	1,250
Currency revaluation	(533		)	—			—
Amortization	N/A			(95		)	N/A
Balance at December 31, 2018	$	18,501		$	—		$	1,250
Currency revaluation	(191		)	—			—
Amortization	N/A			—			N/A
Balance at December 31, 2019	$	18,310		$	—		$	1,250

 

The following table summarizes the Company’s intangible assets:

(in thousands)	Remaining Amortization Period (in months)	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
2019
Non-amortized intangible assets:
Mutual fund management contracts	—	$	1,250	$	—		$	1,250
2018
Amortized intangible assets:
Client relationships	—	$	1,543	$	(1,543	)	$	—
Non-amortized intangible assets:
Mutual fund management contracts	—	1,250		—			1,250
Total		$	2,793	$	(1,543	)	$	1,250

Amortization expense related to the intangible assets was approximately $95,000 and $89,000 for the years ended December 31, 2018 and 2017, respectively.