Revenues from contracts with customers (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

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 nine months ended September 30, 2020 and 2019:


(Expressed in thousands)	For the Three Months Ended September 30, 2020
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	40,742	$	—	$	43,389	$	3	$	84,134
Mutual fund income	8,097		—		2		8		8,107
Advisory fees	67,949		20,634		—		12		88,595
Investment banking - capital markets	3,962		—		31,577		—		35,539
Investment banking - advisory	—		—		30,706		—		30,706
Bank deposit sweep income	4,619		—		—		—		4,619
Other	5,720		—		32		9		5,761
Total revenue from contracts with customers	131,089		20,634		105,706		32		257,461
Other sources of revenue:
Interest	5,939		(5)		1,539		67		7,540
Principal transactions, net	1,223		—		6,357		123		7,703
Other	2,846		3		687		19		3,555
Total other sources of revenue	10,008		(2)		8,583		209		18,798
Total revenue	$	141,097	$	20,632	$	114,289	$	241	$	276,259


(Expressed in thousands)	For the Three Months Ended September 30, 2019
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	35,994	$	—	$	32,569	$	9	$	68,572
Mutual fund income	10,050		—		1		4		10,055
Advisory fees	62,510		18,366		2		9		80,887
Investment banking - capital markets	2,557		—		8,773		—		11,330
Investment banking - advisory	—		—		10,468		—		10,468
Bank deposit sweep income	28,894		—		—		—		28,894
Other	3,296		2		448		576		4,322
Total revenue from contracts with customers	143,301		18,368		52,261		598		214,528
Other sources of revenue:
Interest	8,652		—		3,272		420		12,344
Principal transactions, net	70		—		8,515		(979)		7,606
Other	31		—		20		264		315
Total other sources of revenue	8,753		—		11,807		(295)		20,265
Total revenue	$	152,054	$	18,368	$	64,068	$	303	$	234,793

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
	September 30, 2020		December 31, 2019
Contract assets (receivables):
Commission (1)	$	780	$	2,824
Mutual fund income (2)	5,866		6,746
Advisory fees (3)	1,431		1,594
Bank deposit sweep income (4)	697		3,454
Investment banking fees (5)	15,983		9,284
Other	6,100		4,986
Total contract assets	$	30,857	$	28,888
Deferred revenue (payables):
Investment banking fees (6)	$	659	$	408
IRA fees (7)	636		—
Total deferred revenue	$	1,295	$	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.