Revenues from contracts with customers (Tables)

3 Months Ended

Mar. 31, 2020

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 months ended March 31, 2020 and 2019:

(Expressed in thousands)	For the Three Months Ended March 31, 2020
	Reportable Segments
	Private Client			Asset Management		Capital Markets		Corporate/Other			Total
Revenue from contracts with customers:
Commissions from sales and trading	$	47,105		$	—	$	46,287	$	20		$	93,412
Mutual fund income	9,827			3		3		4			9,837
Advisory fees	66,883			19,270		2		9			86,164
Investment banking - capital markets	3,950			—		11,942		—			15,892
Investment banking - advisory	—			—		9,836		—			9,836
Bank deposit sweep income	18,826			—		—		—			18,826
Other	3,131			—		640		101			3,872
Total revenue from contracts with customers	149,722			19,273		68,710		134			237,839
Other sources of revenue:
Interest	7,680			—		2,824		386			10,890
Principal transactions, net	(2,715		)	—		3,984		(2,137		)	(868		)
Other	(13,269		)	3		24		151			(13,091		)
Total other sources of revenue	(8,304		)	3		6,832		(1,600		)	(3,069		)
Total revenue	$	141,418		$	19,276	$	75,542	$	(1,466	)	$	234,770

(Expressed in thousands)	For the Three Months Ended March 31, 2019
	Reportable Segments
	Private Client		Asset Management			Capital Markets		Corporate/Other			Total
Revenue from contracts with customers:
Commissions from sales and trading	$	37,477	$	—		$	32,316	$	2		$	69,795
Mutual fund income	9,614		(6		)	1		5			9,614
Advisory fees	57,044		16,589			5		9			73,647
Investment banking - capital markets	2,749		—			8,593		—			11,342
Investment banking - advisory	—		—			16,701		—			16,701
Bank deposit sweep income	33,968		—			—		—			33,968
Other	3,278		—			319		256			3,853
Total revenue from contracts with customers	144,130		16,583			57,935		272			218,920
Other sources of revenue:
Interest	9,408		—			2,835		484			12,727
Principal transactions, net	1,684		—			10,157		(403		)	11,438
Other	8,305		3			34		343			8,685
Total other sources of revenue	19,397		3			13,026		424			32,850
Total revenue	$	163,527	$	16,586		$	70,961	$	696		$	251,770

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)
	As of
	March 31, 2020		December 31, 2019
Contract assets (receivables):
Commission (1)	$	4,298	$	2,824
Mutual fund income (2)	6,736		6,746
Advisory fees (3)	1,080		1,594
Bank deposit sweep income (4)	1,610		3,454
Investment banking fees (5)	4,392		9,284
Other	4,560		4,986
Total contract assets	$	22,676	$	28,888
Deferred revenue (payables):
Investment banking fees (6)	$	289	$	408
IRA fees (7)	1,906		—
Total deferred revenue	$	2,195	$	408

(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.