Accrued Expenses and Other Liabilities

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Accrued Expenses and Other Liabilities

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following:

	June 30,		December 31,
	2020		2019
Accrued investment manager fees	$	56,061	$	48,720
Accrued compensation and related taxes	44,231		53,627
Non-income tax payables	10,307		11,040
Accrued professional services	5,321		3,833
Accrued technology	3,521		3,042
Accrued transaction costs	2,761		2,482
Accrued charitable contribution	—		5,020
Other accrued expenses	12,561		10,180
Total accrued expenses and other liabilities	$	134,763	$	137,944

In the fourth quarter of 2019, the Company offered a voluntary early retirement program (the “Early Retirement Program”) to employees over a certain age, who have a combined age and years of experience with the Company of at least 65 years. Employees had until January 31, 2020 to voluntarily accept the program with separation of service no later than March 31, 2020. In connection with this program, the Company recorded approximately $12,000 of severance expense during the six months ended June 30, 2020. As of June 30, 2020, the Company has accrued approximately $868 in accrued compensation and related taxes and $2,336 recorded in other non-current liabilities. As of December 31, 2019, the Company had accrued approximately $1,733 in accrued compensation and related taxes and $599 recorded in other non-current liabilities. These payments will extend through 2030.