Revenues from contracts with customers (Tables)

6 Months Ended

Jun. 30, 2022

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 six months ended June 30, 2022 and 2021:


(Expressed in thousands)	For the Three Months Ended June 30, 2022
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	38,108			$	48,425	$	6	$	86,539
Mutual fund and insurance income	7,808				1		30		7,839
Advisory fees	83,085		24,311		—		9		107,405
Investment banking - capital markets	2,359				6,010		—		8,369
Investment banking - advisory	—				8,284		—		8,284
Bank deposit sweep income	14,845				—		—		14,845
Other	4,807		—		479		66		5,352
Total revenue from contracts with customers	151,012		24,311		63,199		111		238,633
Other sources of revenue:
Interest	10,369				1,392		28		11,789
Principal transactions, net	(2,233)				6,564		(3,073)		1,258
Other	(14,677)		4		119		96		(14,458)
Total other sources of revenue	(6,541)		4		8,075		(2,949)		(1,411)
Total revenue	$	144,471	$	24,315	$	71,274	$	(2,838)	$	237,222


(Expressed in thousands)	For the Three Months Ended June 30, 2021
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	44,510	$	—	$	42,407	$	4	$	86,921
Mutual fund and insurance income	9,243		—		2		5		9,250
Advisory fees	85,598		25,541		—		13		111,152
Investment banking - capital markets	5,770		—		48,208		—		53,978
Investment banking - advisory	250		—		50,514		—		50,764
Bank deposit sweep income	3,712		—		—		—		3,712
Other	4,474		—		202		19		4,695
Total revenue from contracts with customers	153,557		25,541		141,333		41		320,472
Other sources of revenue:
Interest	7,235		—		1,666		8		8,909
Principal transactions, net	1,546		—		4,878		(119)		6,305
Other	4,525		3		68		11		4,607
Total other sources of revenue	13,306		3		6,612		(100)		19,821
Total revenue	$	166,863	$	25,544	$	147,945	$	(59)	$	340,293


(Expressed in thousands)	For the Six Months Ended June 30, 2022
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	81,463	$	—	95,061		17		$	176,541
Mutual fund and insurance income	16,130		—		6		22		16,158
Advisory fees	171,613		51,424		117		17		223,171
Investment banking - capital markets	5,665		—		19,234		—		24,899
Investment banking - advisory	35		—		30,189		—		30,224
Bank deposit sweep income	19,199		—		—		—		19,199
Other	7,642		—		797		188		8,627
Total revenue from contracts with customers	301,747		51,424		145,404		244		498,819
Other sources of revenue:
Interest	18,517		—		2,685		104		21,306
Principal transactions, net	(4,166)		—		8,080		(292)		3,622
Other	(20,780)		8		156		119		(20,497)
Total other sources of revenue	(6,429)		8		10,921		(69)		4,431
Total revenue	$	295,318	$	51,432	$	156,325	$	175	$	503,250


(Expressed in thousands)	For the Six Months Ended June 30, 2021
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	92,908	$	—	$	98,207	$	1	$	191,116
Mutual fund and insurance income	18,441		—		4		81		18,526
Advisory fees	165,852		49,768		3		25		215,648
Investment banking - capital markets	14,280		—		128,277		—		142,557
Investment banking - advisory	250		—		86,436		—		86,686
Bank deposit sweep income	7,720		—		—		—		7,720
Other	7,594		—		761		33		8,388
Total revenue from contracts with customers	307,045		49,768		313,688		140		670,641
Other sources of revenue:
Interest	13,711		—		3,818		46		17,575
Principal transactions, net	2,176		—		13,832		1,162		17,170
Other	7,954		6		206		23		8,189
Total other sources of revenue	23,841		6		17,856		1,231		42,934
Total revenue	$	330,886	$	49,774	$	331,544	$	1,371	$	713,575

Schedule of 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
	June 30, 2022		December 31, 2021
Contract assets (receivables):
Commission (1)	$	3,912	$	2,886
Mutual fund income (2)	5,636		6,205
Advisory fees (3)	3,909		4,546
Bank deposit sweep income (4)	4,258		595
Investment banking fees (5)	4,418		17,765
Other	2,975		5,195
Total contract assets	$	25,108	$	37,192
Deferred revenue (payables):
Investment banking fees (6)	$	481	$	235
IRA fees (7)	1,529		—
Total deferred revenue	$	2,010	$	235

(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 received from certain advisory transactions where the performance

obligations have not yet been satisfied.

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