Revenues from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2020

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, 2020 and 2019 (in thousands):

	Three Months Ended September 30,
	2020		2019
Revenues from contracts with customers:
Commissions	$	172,654	$	163,920
Investment banking		218,134		198,790
Asset management and service fees		230,782		217,628
Other		15,329		5,249
Total revenue from contracts with customers		636,899		585,587
Other sources of revenue:
Interest		114,411		178,784
Principal transactions		140,883		97,847
Other		4,929		3,498
Total revenues	$	897,122	$	865,716

	Nine Months Ended September 30,
	2020		2019
Revenues from contracts with customers:
Commissions	$	560,780	$	484,350
Investment banking		614,637		540,247
Asset management and service fees		667,496		624,066
Other		32,408		12,779
Total revenue from contracts with customers		1,875,321		1,661,442
Other sources of revenue:
Interest		403,956		557,795
Principal transactions		445,566		298,343
Other		18,571		21,682
Total revenues	$	2,743,414	$	2,539,262

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, 2020 and 2019 (in thousands):

	Three Months Ended September 30, 2020 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions (1)	$	120,600	$	52,054	$	—	$	172,654
Capital raising (1)		8,113		129,179		—		137,292
Advisory fees (1)		—		80,842		—		80,842
Investment banking		8,113		210,021		—		218,134
Asset management		230,765		17		—		230,782
Other		14,535		—		794		15,329
Total		374,013		262,092		794		636,899
Primary Geographic Region:
United States		374,013		209,141		794		583,948
United Kingdom		—		30,959		—		30,959
Other		—		21,992		—		21,992
	$	374,013	$	262,092	$	794	$	636,899

	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		84,087		—		93,942
Advisory fees (1)		—		104,848		—		104,848
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

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

	Nine Months Ended September 30, 2020 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	373,653	$	187,127	$	—	$	560,780
Capital raising (1)		26,443		333,442		—		359,885
Advisory fees (1)		19		254,733		—		254,752
Investment banking		26,462		588,175		—		614,637
Asset management		667,446		50		—		667,496
Other		30,104		—		2,304		32,408
Total		1,097,665		775,352		2,304		1,875,321
Primary Geographic Region:
United States		1,097,665		609,328		2,304		1,709,297
United Kingdom		—		110,053		—		110,053
Other		—		55,971		—		55,971
	$	1,097,665	$	775,352	$	2,304	$	1,875,321

	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

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