Revenues from contracts with customers (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2022 and 2021:


(Expressed in thousands)	For the Three Months Ended September 30, 2022
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	39,290	$	—	$	42,699	$	12	$	82,001
Mutual fund and insurance income	7,603		—		1		3		7,607
Advisory fees	78,055		24,865		—		7		102,927
Investment banking - capital markets	1,950		—		7,173		—		9,123
Investment banking - advisory	—		—		29,270		—		29,270
Bank deposit sweep income	35,769		—		—		—		35,769
Other	5,126		—		652		39		5,817
Total revenue from contracts with customers	167,793		24,865		79,795		61		272,514
Other sources of revenue:
Interest	14,471		—		2,265		625		17,361
Principal transactions, net	(884)		—		8,637		(1,251)		6,502
Other	(2,766)		5		250		245		(2,266)
Total other sources of revenue	10,821		5		11,152		(381)		21,597
Total revenue	$	178,614	$	24,870	$	90,947	$	(320)	$	294,111


(Expressed in thousands)	For the Three Months Ended September 30, 2021
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	42,214	$	—	$	39,535	$	(2)	$	81,747
Mutual fund and insurance income	9,134		—		2		6		9,142
Advisory fees	89,849		26,890		—		12		116,751
Investment banking - capital markets	5,599		—		29,488		—		35,087
Investment banking - advisory	—		—		51,814		—		51,814
Bank deposit sweep income	3,909		—		—		—		3,909
Other	2,765		—		196		10		2,971
Total revenue from contracts with customers	153,470		26,890		121,035		26		301,421
Other sources of revenue:
Interest	7,624		—		1,631		85		9,340
Principal transactions, net	(189)		—		5,804		(1,121)		4,494
Other	(41)		4		115		9		87
Total other sources of revenue	7,394		4		7,550		(1,027)		13,921
Total revenue	$	160,864	$	26,894	$	128,585	$	(1,001)	$	315,342


(Expressed in thousands)	For the Nine Months Ended September 30, 2022
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	120,753	$	—	137,760		29		$	258,542
Mutual fund and insurance income	23,733		—		7		25		23,765
Advisory fees	249,667		76,289		117		25		326,098
Investment banking - capital markets	7,615		—		26,407		—		34,022
Investment banking - advisory	35		—		59,459		—		59,494
Bank deposit sweep income	54,968		—		—		—		54,968
Other	12,770		—		1,449		227		14,446
Total revenue from contracts with customers	469,541		76,289		225,199		306		771,335
Other sources of revenue:
Interest	32,987		—		4,950		730		38,667
Principal transactions, net	(5,050)		—		16,717		(1,543)		10,124
Other	(23,546)		13		406		362		(22,765)
Total other sources of revenue	4,391		13		22,073		(451)		26,026
Total revenue	$	473,932	$	76,302	$	247,272	$	(145)	$	797,361


(Expressed in thousands)	For the Nine Months Ended September 30, 2021
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading	$	135,122	$	—	$	137,742	$	(1)	$	272,863
Mutual fund and insurance income	27,575		—		6		87		27,668
Advisory fees	255,701		76,658		3		37		332,399
Investment banking - capital markets	19,879		—		157,765		—		177,644
Investment banking - advisory	250		—		138,250		—		138,500
Bank deposit sweep income	11,629		—		—		—		11,629
Other	10,359		—		957		43		11,359
Total revenue from contracts with customers	460,515		76,658		434,723		166		972,062
Other sources of revenue:
Interest	21,335		—		5,449		131		26,915
Principal transactions, net	1,987		—		19,636		41		21,664
Other	7,913		10		321		32		8,276
Total other sources of revenue	31,235		10		25,406		204		56,855
Total revenue	$	491,750	$	76,668	$	460,129	$	370	$	1,028,917

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
	September 30, 2022		December 31, 2021
Contract assets (receivables):
Commission (1)	$	5,990	$	2,886
Mutual fund income (2)	5,078		6,205
Advisory fees (3)	3,404		4,546
Bank deposit sweep income (4)	6,625		595
Investment banking fees (5)	7,065		17,765
Other	4,765		5,195
Total contract assets	$	32,927	$	37,192
Deferred revenue (payables):
Investment banking fees (6)	$	230	$	235
IRA fees (7)	764		—
Total deferred revenue	$	994	$	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.