Discontinued Operations, Assets and Liabilities Held for Sale & Sales of Businesses (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Summary of Results of Operations and Financial Condition of Discontinued Operations

The revenues and results of operations of discontinued operations are summarized as follows (in thousands):

	For the year ended December 31, 2014			For the six months ended December 31, 2013
Revenues and gain (adjustment to gain) on sale	$	(1,148	)	$	39,868
Expenses:
Compensation	$	70		$	14,068
Payments for order flow	—			9,885
Execution and clearance fees	—			5,038
Other expenses	930			10,748
Total expenses	1,000			39,739
Pre-tax (loss) income from discontinued operations	(2,148		)	129
Income tax expense (benefit)	816			(49		)
(Loss) income from discontinued operations, net of tax	$	(1,332	)	$	80

The assets and liabilities of businesses held for sale as of December 31, 2015 and 2014 are summarized as follows (in thousands):

	December 31, 2015		December 31, 2014
Assets:
Fixed assets, less accumulated depreciation	$	—	$	391
Intangible assets, net of accumulated amortization	25,999		34,696
Other assets	—		5,397
Total assets of businesses held for sale	$	25,999	$	40,484
Liabilities:
Accrued compensation expense	$	—	$	2,298
Accrued expenses and other liabilities	—		58
Total liabilities of businesses held for sale	$	—	$	2,356