Revenues from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Total Revenues Broken Out by Revenues from Contracts with Customers and Other Sources of Revenue

The following table presents the Company’s total revenues broken out by revenues from contracts with customers and other sources of revenue for the three and six months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30,
	2024		2023
Revenues from contracts with customers:
Commissions	$	183,317	$	165,358
Investment banking		233,281		166,825
Asset management		380,757		320,264
Other		1,562		1,380
Total revenue from contracts with customers		798,917		653,827
Other sources of revenue:
Interest		498,152		482,770
Principal transactions		153,574		105,700
Other		14,618		(486	)
Total revenues	$	1,465,261	$	1,241,811

	Six Months Ended June 30,
	2024		2023
Revenues from contracts with customers:
Commissions	$	368,793	$	334,908
Investment banking		447,230		378,704
Asset management		748,233		635,833
Other		2,798		2,607
Total revenue from contracts with customers		1,567,054		1,352,052
Other sources of revenue:
Interest		1,004,980		934,334
Principal transactions		292,588		221,222
Other		18,332		(4,006	)
Total revenues	$	2,882,954	$	2,503,602

Revenues from Contracts with Customers Disaggregated by Major Business Activity and Primary Geographic Regions

The following tables present the Company’s revenues from contracts with customers by reportable segment disaggregated by major business activity and primary geographic regions for the three and six months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30, 2024
	Global Wealth Management		Institutional Group		Other		Total
Major Business Activity:
Commissions	$	121,465	$	61,852	$	—	$	183,317
Capital raising		5,780		96,090		—		101,870
Advisory		—		131,411		—		131,411
Investment banking		5,780		227,501		—		233,281
Asset management		380,737		20		—		380,757
Other		1,562		—		—		1,562
Total		509,544		289,373		—		798,917
Primary Geographic Region:
United States		509,544		234,098		—		743,642
United Kingdom		—		33,386		—		33,386
Canada		—		9,712		—		9,712
Other		—		12,177		—		12,177
	$	509,544	$	289,373	$	—	$	798,917

	Three Months Ended June 30, 2023
	Global Wealth Management		Institutional Group		Other		Total
Major Business Activity:
Commissions	$	109,836	$	55,522	$	—	$	165,358
Capital raising		4,065		74,886		—		78,951
Advisory		—		87,874		—		87,874
Investment banking		4,065		162,760		—		166,825
Asset management		320,238		26		—		320,264
Other		1,318		—		62		1,380
Total		435,457		218,308		62		653,827
Primary Geographic Region:
United States		435,457		142,383		62		577,902
United Kingdom		—		45,221		—		45,221
Canada		—		7,614		—		7,614
Other		—		23,090		—		23,090
	$	435,457	$	218,308	$	62	$	653,827

	Six Months Ended June 30, 2024
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	242,682	$	126,111	$	—	$	368,793
Capital raising		10,060		186,507		—		196,567
Advisory		—		250,663		—		250,663
Investment banking		10,060		437,170		—		447,230
Asset management		748,187		46		—		748,233
Other		2,798		—		—		2,798
Total		1,003,727		563,327		—		1,567,054
Primary Geographic Region:
United States		1,003,727		457,548		—		1,461,275
United Kingdom		—		61,571		—		61,571
Canada		—		21,087		—		21,087
Other		—		23,121		—		23,121
	$	1,003,727	$	563,327	$	—	$	1,567,054

	Six Months Ended June 30, 2023
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	220,027	$	114,881	$	—	$	334,908
Capital raising		8,223		131,544		—		139,767
Advisory		—		238,937		—		238,937
Investment banking		8,223		370,481		—		378,704
Asset management		635,775		58		—		635,833
Other		2,502		—		105		2,607
Total		866,527		485,420		105		1,352,052
Primary Geographic Region:
United States		866,527		353,260		105		1,219,892
United Kingdom		—		68,604		—		68,604
Canada		—		30,137		—		30,137
Other		—		33,419		—		33,419
	$	866,527	$	485,420	$	105	$	1,352,052