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Note Receivable
12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Note Receivable

Note 6. Note Receivable

The Company's note receivable consists of an Advance Agreement and Secured Promissory Note that was executed on September 30, 2021 between the Company and BCP Partners Holdings, LP ("BCP") to lend funds to certain employees to be used to pay GP commitments to certain funds managed by Bonaccord. This agreement provides for a note to BCP for $5.0 million, of which $2.6 million was drawn as of December 31, 2021 with a maturity date of September 30, 2031. The note will earn interest at the greater of (i) the applicable federal rate that must be charged to avoid imputation of interest under Section 1274(d) of the code and (ii) 5.5%. Interest will be paid on December 31st of each year commencing December 31, 2021, with any unpaid accrued interest being capitalized and added to the outstanding principal balance. Principal payments will be made periodically from mandatory payments from available cash flows at BCP. As of December 31, 2021 and December 31, 2020, the balance was $2.6 million and $0, respectively. The Company recognized interest income of $0.1 million, $0.0 million and $0.0 million for the years ended December 31, 2021, 2020 and 2019, respectively.