Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Information regarding the Company’s intangible assets is as follows:

March 31, 2024	Gross carrying amount		Accumulated amortization		Net carrying amount
Indefinite-lived intangible assets:
Broker-dealer relationships	$	570,480	$	—	$	570,480
Enterprise distribution channel customer relationships	17,500		—		17,500
Definite-lived intangible assets:
Trade names	50,530		(17,989)		32,541
Technology	19,600		(6,439)		13,161
Customer relationships	36,450		(10,572)		25,878
Regulatory licenses	34,850		(12,924)		21,926
Non-compete agreements	400		(367)		33
Total	$	729,810	$	(48,291)	$	681,519

December 31, 2023	Gross carrying amount		Accumulated amortization		Net carrying amount
Indefinite-lived intangible assets:
Broker-dealer relationships	$	570,480	$	—	$	570,480
Enterprise distribution channel customer relationships	17,500		—		17,500
Definite-lived intangible assets:
Trade names	50,530		(17,305)		33,225
Technology	19,600		(5,694)		13,906
Customer relationships	36,450		(9,846)		26,604
Regulatory licenses	34,850		(12,488)		22,362
Non-compete agreements	400		(335)		65
Total	$	729,810	$	(45,668)	$	684,142

Summary of Estimated Amortization Expense for Definite-Lived Intangible Assets

Estimated amortization expense for definite‑lived intangible assets for future years is as follows:

Remainder of 2024	$	7,802
2025	10,308
2026	9,158
2027	9,158
2028	9,158
2029 and thereafter	47,955
Total	$	93,539