Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net (loss) income	$ (9,196)	$ 256,598
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	7,848	6,759
Provision for doubtful accounts	405	402
Share-based compensation	17,013	5,526
Fair value adjustments, non-cash	(15,816)	(10,726)
Non-cash interest and other	(3,596)	(4,375)
Effect of foreign currency on operations	(34)	(726)
Income from equity investments	(6,775)	(875)
Dividends from equity investments	774	305
Deferred income taxes	(41,900)	62,696
Loss on loans receivable and disposal of fixed assets	257	0
Gain on extinguishment of loan	(1,102)	0
Loss on extinguishment of debt	0	919
Gain on equity investment	0	(3,544)
Income allocated and fair value adjustment for mandatorily redeemable noncontrolling interests	215	130
Change in operating assets and liabilities:
Amounts due to/from clearing brokers	(80,091)	(416,038)
Securities and other investments owned	215,973	(235,504)
Securities borrowed	461,193	(548,178)
Accounts receivable and advances against customer contracts	6,355	(3,885)
Prepaid expenses and other assets	1,701	(5,629)
Accounts payable, accrued payroll and related expenses, accrued expenses and other liabilities	(82,962)	30,505
Amounts due to/from related parties and partners	594	1,083
Securities sold, not yet purchased	(21,125)	277,446
Deferred revenue	4,924	(3,042)
Securities loaned	(469,553)	547,259
Net cash used in operating activities	(14,898)	(42,894)
Cash flows from investing activities:
Purchases of loans receivable	(93,853)	(75,669)
Repayments of loans receivable	101,000	87,476
Repayment of loan participations sold	0	(6,086)
Acquisition of businesses, net of $26,076 and $34,924 cash acquired for 2022 and 2021, respectively	(40,047)	(260)
Purchases of property, equipment and intangible assets	(176)	(101)
Proceeds from sale of property, equipment and intangible assets	2	0
Investment of subsidiaries initial public offering proceeds into trust account	0	(172,500)
Purchase of equity and other investments	(2,439)	(4,698)
Net cash used in investing activities	(35,513)	(171,838)
Cash flows from financing activities:
Repayment of notes payable	(357)	(37,610)
Repayment of term loan	(4,116)	(4,750)
Proceeds from issuance of senior notes	20,037	402,404
Redemption of senior notes	0	(128,156)
Payment of debt issuance and offering costs	0	(7,510)
Payment of contingent consideration	(181)	(75)
Payment of employment taxes on vesting of restricted stock	(1,294)	(22)
Common dividends paid	(27,886)	(95,183)
Preferred dividends paid	(2,002)	(1,749)
Distribution to noncontrolling interests	(1,051)	(11,571)
Contribution from noncontrolling interests	1,770	3,722
Proceeds from initial public offering of subsidiaries	0	172,500
Proceeds from issuance of common stock	0	64,713
Proceeds from issuance of preferred stock	639	0
Net cash (used in) provided by financing activities	(14,441)	356,713
(Decrease) increase in cash, cash equivalents and restricted cash	(64,852)	141,981
Effect of foreign currency on cash, cash equivalents and restricted cash	(496)	(696)
Net (decrease) increase in cash, cash equivalents and restricted cash	(65,348)	141,285
Cash, cash equivalents and restricted cash, beginning of period	279,860	104,837
Cash, cash equivalents and restricted cash, end of period	214,512	246,122
Supplemental disclosures:
Interest paid	38,272	36,725
Taxes paid	$ 73	$ 53