Revenues from contracts with customers (Tables)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the three and six months ended June 30, 2019 and 2018:

(Expressed in thousands)	For the Three Months Ended June 30, 2019
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other			Total
Revenue from contracts with customers:
Commissions from sales and trading	$	37,026	$	—	$	33,736	$	4		$	70,766
Mutual fund income	10,124		1		1		4			10,130
Advisory fees	62,080		18,617		2		8			80,707
Investment banking - capital markets	4,262		—		14,699		—			18,961
Investment banking - advisory	—		—		13,045		—			13,045
Bank deposit sweep income	31,830		—		—		—			31,830
Other	3,526		—		522		1,537			5,585
Total revenue from contracts with customers	148,848		18,618		62,005		1,553			231,024
Other sources of revenue:
Interest	9,639		—		3,459		452			13,550
Principal transactions, net	538		—		6,312		(3,805		)	3,045
Other	2,903		4		43		366			3,316
Total other sources of revenue	13,080		4		9,814		(2,987		)	19,911
Total revenue	$	161,928	$	18,622	$	71,819	$	(1,434	)	$	250,935

(Expressed in thousands)	For the Three Months Ended June 30, 2018
	Reportable Segments
	Private Client		Asset Management			Capital Markets		Corporate/Other			Total
Revenue from contracts with customers:
Commissions from sales and trading	$	39,093	$	—		$	33,022	$	62		$	72,177
Mutual fund income	10,441		222			5		5			10,673
Advisory fees	59,774		17,485			3		8			77,270
Investment banking - capital markets	3,469		—			16,196		—			19,665
Investment banking - advisory	—		—			8,239		—			8,239
Bank deposit sweep income	28,853		—			—		—			28,853
Other	3,430		3			457		(47		)	3,843
Total revenue from contracts with customers	145,060		17,710			57,922		28			220,720
Other sources of revenue:
Interest	9,514		(4		)	3,263		283			13,056
Principal transactions, net	212		—			6,989		(801		)	6,400
Other	1,767		—			32		581			2,380
Total other sources of revenue	11,493		(4		)	10,284		63			21,836
Total revenue	$	156,553	$	17,706		$	68,206	$	91		$	242,556

(Expressed in thousands)	For the Six Months Ended June 30, 2019
	Reportable Segments
	Private Client		Asset Management			Capital Markets		Corporate/Other			Total
Revenue from contracts with customers:
Commissions from sales and trading	$	74,502	$	—		$	66,052	$	7		$	140,561
Mutual fund income	19,738		(5		)	2		9			19,744
Advisory fees	119,124		35,206			7		17			154,354
Investment banking - capital markets	7,011		—			23,292		—			30,303
Investment banking - advisory	—		—			29,746		—			29,746
Bank deposit sweep income	65,798		—			—		—			65,798
Other	6,805		—			841		1,793			9,439
Total revenue from contracts with customers	292,978		35,201			119,940		1,826			449,945
Other sources of revenue:
Interest	19,047		—			6,294		936			26,277
Principal transactions, net	2,222		—			16,469		(4,208		)	14,483
Other	11,208		7			77		708			12,000
Total other sources of revenue	32,477		7			22,840		(2,564		)	52,760
Total revenue	$	325,455	$	35,208		$	142,780	$	(738	)	$	502,705

(Expressed in thousands)	For the Six Months Ended June 30, 2018
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other			Total
Revenue from contracts with customers:
Commissions from sales and trading	$	79,371	$	—	$	65,019	$	77		$	144,467
Mutual fund income	21,268		505		7		10			21,790
Advisory fees	119,910		34,838		54		16			154,818
Investment banking - capital markets	7,839		—		30,592		—			38,431
Investment banking - advisory	—		—		17,683		—			17,683
Bank deposit sweep income	54,150		—		—		—			54,150
Other	7,705		6		432		(46		)	8,097
Total revenue from contracts with customers	290,243		35,349		113,787		57			439,436
Other sources of revenue:
Interest	18,351		1		6,468		463			25,283
Principal transactions, net	132		—		9,381		(387		)	9,126
Other	1,921		—		99		1,221			3,241
Total other sources of revenue	20,404		1		15,948		1,297			37,650
Total revenue	$	310,647	$	35,350	$	129,735	$	1,354		$	477,086

Contract with Customer, Asset and Liability

The following presents the Company's contract assets and deferred revenue balances from contracts with customers, which are included in other assets and other liabilities, respectively, on the condensed consolidated balance sheet:

(Expressed in thousands)
	Ending Balance at June 30, 2019		Opening Balance at January 1, 2019
Contract assets (receivables):
Commission (1)	$	4,142	$	3,738
Mutual fund income (2)	6,798		7,241
Advisory fees (3)	901		1,214
Bank deposit sweep income (4)	4,208		4,622
Investment banking fees (5)	10,583		3,996
Other	8,638		2,869
Total contract assets	$	35,270	$	23,680
Deferred revenue (payables):
Investment banking fees (6)	$	2,396	$	318
IRA fees (7)	1,333		—
Total deferred revenue	$	3,729	$	318

(1) Commission recorded on trade date but not yet settled.

(2) Mutual fund income earned but not yet received.

(3) Management and performance fees earned but not yet received.

(4) Fees earned from FDIC-insured bank deposit program but not yet received.

(5) Underwriting revenue and advisory fees earned but not yet received.

(6) Retainer fees and fees earned from certain advisory transactions where the performance obligations

have not yet been satisfied.

(7)Fee received in advance on an annual basis.