Revenues from Contracts with Customers (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2024 and 2023 (in thousands):

	Three Months Ended September 30,
	2024		2023
Revenues from contracts with customers:
Commissions	$	183,445	$	165,075
Investment banking		243,182		146,887
Asset management		382,616		333,127
Other		1,649		1,380
Total revenue from contracts with customers		810,892		646,469
Other sources of revenue:
Interest		510,823		505,198
Principal transactions		137,089		114,841
Other		17,056		(921	)
Total revenues	$	1,475,860	$	1,265,587

	Nine Months Ended September 30,
	2024		2023
Revenues from contracts with customers:
Commissions	$	552,238	$	499,983
Investment banking		690,412		525,591
Asset management		1,130,849		968,960
Other		4,447		3,987
Total revenue from contracts with customers		2,377,946		1,998,521
Other sources of revenue:
Interest		1,515,803		1,439,532
Principal transactions		429,677		336,063
Other		35,388		(4,927	)
Total revenues	$	4,358,814	$	3,769,189

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 nine months ended September 30, 2024 and 2023 (in thousands):

	Three Months Ended September 30, 2024
	Global Wealth Management		Institutional Group		Other		Total
Major Business Activity:
Commissions	$	129,230	$	54,215	$	—	$	183,445
Capital raising		6,217		100,108		—		106,325
Advisory		—		136,857		—		136,857
Investment banking		6,217		236,965		—		243,182
Asset management		382,309		307		—		382,616
Other		1,649		—		—		1,649
Total		519,405		291,487		—		810,892
Primary Geographic Region:
United States		519,405		239,789		—		759,194
United Kingdom		—		28,393		—		28,393
Canada		—		9,969		—		9,969
Other		—		13,336		—		13,336
	$	519,405	$	291,487	$	—	$	810,892

	Three Months Ended September 30, 2023
	Global Wealth Management		Institutional Group		Other		Total
Major Business Activity:
Commissions	$	112,300	$	52,775	$	—	$	165,075
Capital raising		3,895		45,719		—		49,614
Advisory		—		97,273		—		97,273
Investment banking		3,895		142,992		—		146,887
Asset management		333,088		39		—		333,127
Other		1,319		17		44		1,380
Total		450,602		195,823		44		646,469
Primary Geographic Region:
United States		450,602		145,787		44		596,433
United Kingdom		—		31,240		—		31,240
Canada		—		8,601		—		8,601
Other		—		10,195		—		10,195
	$	450,602	$	195,823	$	44	$	646,469

	Nine Months Ended September 30, 2024
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	371,912	$	180,326	$	—	$	552,238
Capital raising		16,277		286,615		—		302,892
Advisory		—		387,520		—		387,520
Investment banking		16,277		674,135		—		690,412
Asset management		1,130,496		353		—		1,130,849
Other		4,447		—		—		4,447
Total		1,523,132		854,814		—		2,377,946
Primary Geographic Region:
United States		1,523,132		697,337		—		2,220,469
United Kingdom		—		89,964		—		89,964
Canada		—		31,056		—		31,056
Other		—		36,457		—		36,457
	$	1,523,132	$	854,814	$	—	$	2,377,946

	Nine Months Ended September 30, 2023
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	332,327	$	167,656	$	—	$	499,983
Capital raising		12,118		177,263		—		189,381
Advisory		—		336,210		—		336,210
Investment banking		12,118		513,473		—		525,591
Asset management		968,863		97		—		968,960
Other		3,821		17		149		3,987
Total		1,317,129		681,243		149		1,998,521
Primary Geographic Region:
United States		1,317,129		499,047		149		1,816,325
United Kingdom		—		99,844		—		99,844
Canada		—		38,738		—		38,738
Other		—		43,614		—		43,614
	$	1,317,129	$	681,243	$	149	$	1,998,521