Revenue (Tables)

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table presents revenue recognized by the Company for the three and six months ended June 30, 2018:

	For the Three Months Ended June 30, 2018		For the Six Months Ended June 30, 2018
Investment Banking:
Advisory Fees	$	362,995	$	741,310
Underwriting Fees	21,065		51,344
Commissions and Related Fees	51,076		94,110
Total Investment Banking	$	435,136	$	886,764
Investment Management:
Asset Management and Administration Fees:
Wealth Management	$	11,297	$	22,266
Institutional Asset Management	873		1,659
Total Investment Management	$	12,170	$	23,925

Contract with Customer, Asset and Liability [Table Text Block]

The change in the Company’s contract assets and liabilities during the period primarily reflects timing differences between the Company’s performance and the client’s payment. The Company’s receivables and deferred revenue (contract liabilities) for the six months ended June 30, 2018 are as follows:

	Receivables (Current)(1)		Receivables (Long-term)(2)		Deferred Revenue (Contract Liabilities)(3)		Deferred Revenue (Long-term Contract Liabilities)(4)
Balance at January 1, 2018	$	184,993	$	34,008	$	3,147	$	1,834
Increase (Decrease)	89,004		17,610		3,234		(103		)
Balance at June 30, 2018	$	273,997	$	51,618	$	6,381	$	1,731

(1) Included in Accounts Receivable on the Unaudited Condensed Consolidated Statements of Financial Condition.

(2) Included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.

(3) Included in Other Current Liabilities on the Unaudited Condensed Consolidated Statements of Financial Condition.

(4) Included in Other Long-term Liabilities on the Unaudited Condensed Consolidated Statements of Financial Condition.