Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Financial Information About Business Segments

The following tables highlight certain financial information about each of the business segments for the three months ended March 31, 2025 and 2024:


	Investment Managers		Private Banks		Investment Advisors		Institutional Investors		Investments In New Businesses		Total
	For the Three Months Ended March 31, 2025
Total revenue	$	192,048	$	137,714	$	136,576	$	68,506	$	16,500	$	551,344
Less:
Operations & services	86,239		50,286		41,038		20,673		4,961		203,197
Sales, marketing & client service	9,832		8,910		9,195		9,656		4,927		42,520
Technology services & infrastructure	12,752		28,335		8,866		1,549		1,368		52,870
Strategic initiatives & new business development	6,387		22,379		11,708		2,559		5,698		48,731
Other segment expenses (1)	2,001		4,839		1,648		1,433		1,542		11,463
Segment profit (loss)	$	74,837	$	22,965	$	64,121	$	32,636	$	(1,996)	$	192,563


	Investment Managers		Private Banks		Investment Advisors		Institutional Investors		Investments In New Businesses		Total
	For the Three Months Ended March 31, 2024
Total revenue	$	172,653	$	130,137	$	122,718	$	71,778	$	14,293	$	511,579
Less:
Operations & services	78,374		48,262		39,051		21,623		4,918		192,228
Sales, marketing & client service	9,827		10,774		5,220		11,493		4,607		41,921
Technology services & infrastructure	10,454		26,906		8,329		1,477		1,296		48,462
Strategic initiatives & new business development	7,989		21,258		12,548		3,585		6,018		51,398
Other segment expenses (1)	2,906		5,774		1,810		1,931		1,544		13,965
Segment profit (loss)	$	63,103	$	17,163	$	55,760	$	31,669	$	(4,090)	$	163,605

(1) Other segment expenses for each reportable segment includes professional services, occupancy and certain overhead expenses.

Schedule of Reconciliation of Total Operating Profit Reported for Business Segments to Income from Operations in Consolidated Statements of Operations

A reconciliation of the total segment profit to income from operations on the Consolidated Statements of Operations for the three months ended March 31, 2025 and 2024 is as follows:


	2025		2024
Total segment profit	$	192,563	$	163,605
Corporate overhead expenses	(35,466)		(37,754)
Income from operations	$	157,097	$	125,851

Schedule of Additional Information Pertaining to Business Segments

The following tables provide additional information for the three months ended March 31, 2025 and 2024 pertaining to the business segments:


	Capital Expenditures (2)				Depreciation
	2025		2024		2025		2024
Investment Managers	$	6,486	$	7,675	$	62	$	1,579
Private Banks	5,503		6,432		2,259		2,904
Investment Advisors	2,632		3,165		2,025		2,181
Institutional Investors	763		1,119		319		604
Investments in New Businesses	279		416		78		172
Total from business segments	$	15,663	$	18,807	$	4,743	$	7,440
Corporate overhead	365		542		3,184		949
	$	16,028	$	19,349	$	7,927	$	8,389

(2) Capital expenditures include additions to property and equipment and capitalized software.


	Amortization
	2025		2024
Investment Managers	$	202	$	—
Private Banks	5,275		5,111
Investment Advisors	2,419		2,122
Institutional Investors	1,875		1,892
Investments in New Businesses	875		1,182
Total from business segments	$	10,646	$	10,307
Corporate overhead	64		79
	$	10,710	$	10,386