Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill and Intangible Assets

The carrying amount of goodwill and intangible assets attributable to each of our reporting segments is presented in the following table (in thousands):

	December 31, 2024		Adjustments			Write-off		March 31, 2025
Goodwill
Global Wealth Management	$	335,009	$	—		$	—	$	335,009
Institutional Group		1,060,209		(3	)		—		1,060,206
	$	1,395,218	$	(3	)	$	—	$	1,395,215

	December 31, 2024		Adjustments			Amortization			March 31, 2025
Intangible assets
Global Wealth Management	$	24,385	$	—		$	(942	)	$	23,443
Institutional Group		89,189		(35	)		(4,454	)		84,700
	$	113,574	$	(35	)	$	(5,396	)	$	108,143

Intangible Assets

Intangible assets as of March 31, 2025 and December 31, 2024 were as follows (in thousands):

	March 31, 2025				December 31, 2024
	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Customer relationships	$	208,770	$	119,040	$	208,601	$	115,919
Trade names		29,109		22,648		29,109		22,210
Acquired technology		19,903		10,654		19,903		9,158
Non-compete agreements		10,152		8,667		10,152		8,559
Investment banking backlog		8,913		7,720		8,913		7,327
Core deposits		8,615		8,590		8,615		8,546
	$	285,462	$	177,319	$	285,293	$	171,719

Amortization Expense in Future Periods

As of March 31, 2025, we expect amortization expense in future periods to be as follows (in thousands):

Fiscal year
Remainder of 2025	$	15,941
2026		17,459
2027		13,699
2028		12,654
2029		11,533
Thereafter		34,739
	$	106,025