Revenues from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2019

Revenue From Contract With Customer [Abstract]

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

The following table presents the Company’s total revenues broken out by revenues from contracts with customers and other sources of revenues for the three and nine months ended September 30, 2019 and 2018 (in thousands):

	Three Months Ended September 30,
	2019		2018
Revenues from contracts with customers:
Commissions	$	163,920	$	158,016
Investment banking		198,790		169,012
Asset management and service fees		217,628		200,743
Other		5,249		4,394
Total revenue from contracts with customers		585,587		532,165
Other sources of revenue:
Interest		178,784		169,760
Principal transactions		97,847		83,152
Other		3,498		1,733
Total revenues	$	865,716	$	786,810

	Nine Months Ended September 30,
	2019		2018
Revenues from contracts with customers:
Commissions	$	484,350	$	490,693
Investment banking		540,247		506,437
Asset management and service fees		624,066		596,112
Other		12,779		11,908
Total revenue from contracts with customers		1,661,442		1,605,150
Other sources of revenue:
Interest		557,795		461,915
Principal transactions		298,343		269,918
Other		21,682		6,649
Total revenues	$	2,539,262	$	2,343,632

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, 2019 and 2018 (in thousands):

	Three Months Ended September 30, 2019 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	118,061	$	45,859	$	—	$	163,920
Capital raising (1)		9,855		84,088		—		93,943
Advisory fees (1)		—		104,847		—		104,847
Investment banking		9,855		188,935		—		198,790
Asset management		217,616		12		—		217,628
Other		4,615		—		634		5,249
Total		350,147		234,806		634		585,587
Primary Geographic Region:
United States		350,147		195,220		634		546,001
United Kingdom		—		38,249		—		38,249
Other		—		1,337		—		1,337
	$	350,147	$	234,806	$	634	$	585,587

	Three Months Ended September 30, 2018 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	117,795	$	40,220	$	—	$	158,015
Capital raising (1)		7,722		85,553		—		93,275
Advisory fees (1)		—		75,717		—		75,717
Investment banking		7,722		161,270		—		168,992
Asset management		200,735		8		—		200,743
Other		3,376		—		1,018		4,394
Total		329,628		201,498		1,018		532,144
Primary Geographic Region:
United States		329,628		172,382		1,018		503,028
United Kingdom		—		28,197		—		28,197
Other		—		919		—		919
	$	329,628	$	201,498	$	1,018	$	532,144

⁽¹⁾ Excludes revenues not derived from contracts with customers included in the Other segment.

	Nine Months Ended September 30, 2019 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	348,272	$	136,078	$	—	$	484,350
Capital raising (1)		28,637		218,962		—		247,599
Advisory fees (1)		—		292,648		—		292,648
Investment banking		28,637		511,610		—		540,247
Asset management		624,025		41		—		624,066
Other		10,619		—		2,160		12,779
Total		1,011,553		647,729		2,160		1,661,442
Primary Geographic Region:
United States		1,011,553		544,918		2,160		1,558,631
United Kingdom		—		99,020		—		99,020
Other		—		3,791		—		3,791
	$	1,011,553	$	647,729	$	2,160	$	1,661,442

	Nine Months Ended September 30, 2018 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	355,129	$	135,563	$	—	$	490,692
Capital raising (1)		23,378		222,666		—		246,044
Advisory fees (1)		81		260,312		—		260,393
Investment banking		23,459		482,978		—		506,437
Asset management		596,081		31		—		596,112
Other		8,969		—		2,939		11,908
Total		983,638		618,572		2,939		1,605,149
Primary Geographic Region:
United States		983,638		522,147		2,939		1,508,724
United Kingdom		—		92,029		—		92,029
Other		—		4,396		—		4,396
	$	983,638	$	618,572	$	2,939	$	1,605,149

⁽¹⁾  Excludes revenues not derived from contracts with customers included in the Other segment.