Business Realignment

9 Months Ended

Sep. 30, 2019

Restructuring And Related Activities [Abstract]

Business Realignment

16. BUSINESS REALIGNMENT

The Company conducted a review of our business, which resulted in a realignment that included employee reductions and the closing of subscale offices and investment strategies, most of which were completed during the third quarter of 2019.

Expenses associated with business realignment for the three month and nine month periods ended September 30, 2019 were as follows:

	Financial		Asset
	Advisory		Management		Corporate		Total
Compensation and benefits	$	35,658	$	13,144	$	317	$	49,119
Other		-		1,335		1,000		2,335
Total	$	35,658	$	14,479	$	1,317	$	51,454

Activity related to the obligations pursuant to business realignment during the three month period ended September 30, 2019 was as follows:

	Accrued
	Compensation			Other
	and Benefits			Liabilities			Total
Balance, July 1, 2019	$	-		$	-		$	-
New charges		49,119			2,335			51,454
Less:		-			-			-
Non-cash charges		(15,447	)		(1,335	)		(16,782	)
Payments		(1,193	)		-			(1,193	)
Balance, September 30, 2019	$	32,479		$	1,000		$	33,479