Revenues from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2025

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 months ended March 31, 2025 and 2024 (in thousands):

	Three Months Ended March 31,
	2025		2024
Revenues from contracts with customers:
Commissions	$	193,670	$	185,476
Investment banking		237,942		213,949
Asset management		409,541		367,476
Other		1,337		1,236
Total revenue from contracts with customers		842,490		768,137
Other sources of revenue:
Interest		475,632		506,828
Principal transactions		141,660		139,014
Other		9,244		3,714
Total revenues	$	1,469,026	$	1,417,693

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 months ended March 31, 2025 and 2024 (in thousands):

	Three Months Ended March 31, 2025
	Global Wealth Management		Institutional Group		Other		Total
Major Business Activity:
Commissions	$	125,826	$	67,844	$	—	$	193,670
Capital raising		5,908		94,564		—		100,472
Advisory		—		137,470		—		137,470
Investment banking		5,908		232,034		—		237,942
Asset management		409,506		35		—		409,541
Other		1,295		—		42		1,337
Total		542,535		299,913		42		842,490
Primary Geographic Region:
United States		542,535		240,502		42		783,079
United Kingdom		—		35,564		—		35,564
Canada		—		16,872		—		16,872
Other		—		6,975		—		6,975
	$	542,535	$	299,913	$	42	$	842,490

	Three Months Ended March 31, 2024
	Global Wealth Management		Institutional Group		Other		Total
Major Business Activity:
Commissions	$	121,217	$	64,259	$	—	$	185,476
Capital raising		4,280		90,417		—		94,697
Advisory		—		119,252		—		119,252
Investment banking		4,280		209,669		—		213,949
Asset management		367,450		26		—		367,476
Other		1,236		—		—		1,236
Total		494,183		273,954		—		768,137
Primary Geographic Region:
United States		494,183		223,450		—		717,633
United Kingdom		—		28,185		—		28,185
Canada		—		11,375		—		11,375
Other		—		10,944		—		10,944
	$	494,183	$	273,954	$	—	$	768,137