Revenue from contracts with customers (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of 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 years ended December 31, 2023 and 2022:

	For the Year Ended December 31, 2023
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenues from contracts with customers:
Commissions from sales and trading	$	155,039	$	—	$	162,706	$	23	$	317,768
Mutual fund income	31,457		—		7		16		31,480
Advisory fees	319,191		96,259		—		229		415,679
Investment banking - capital markets	7,543		—		40,499		—		48,042
Investment banking - advisory	—		—		69,623		—		69,623
Bank deposit sweep income	172,807		—		—		—		172,807
Other	15,500		(1)		1,436		166		17,101
Total revenues from contracts with customers	701,537		96,258		274,271		434		1,072,500
Other sources of revenue:
Interest	85,105		—		15,196		4,249		104,550
Principal transactions, net	3,400		—		55,572		6,375		65,347
Other	11,712		(7,825)		858		1,683		6,428
Total other sources of revenue	100,217		(7,825)		71,626		12,307		176,325
Total revenue	$	801,754	$	88,433	$	345,897	$	12,741	$	1,248,825

(Expressed in thousands)	For the Year Ended December 31, 2022
	Reportable Segments
	Private Client		Asset Management		Capital Markets		Corporate/Other		Total
Revenues from contracts with customers:
Commissions from sales and trading	$	159,441	$	—	$	179,694	$	40	$	339,175
Mutual fund income	31,173		—		8		26		31,207
Advisory fees	326,240		99,224		117		34		425,615
Investment banking - capital markets	9,352		—		33,481		—		42,833
Investment banking - advisory	127		—		84,569		—		84,696
Bank deposit sweep income	104,558		—		—		—		104,558
Other	16,451		—		2,113		510		19,074
Total revenues from contracts with customers	647,342		99,224		299,982		610		1,047,158
Other sources of revenue:
Interest	51,866		—		7,453		1,394		60,713
Principal transactions, net	(4,013)		—		29,610		(4,566)		21,031
Other	(19,515)		18		776		760		(17,961)
Total other sources of revenue	28,338		18		37,839		(2,412)		63,783
Total revenue	$	675,680	$	99,242	$	337,821	$	(1,802)	$	1,110,941

Schedule of Contract with Customer, Asset and Liability

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

(Expressed in thousands)	As of
	December 31, 2023		December 31, 2022
Receivables:
Commission (1)	$	4,554	$	3,533
Mutual fund income (2)	5,365		4,993
Advisory fees (3)	5,746		5,368
Bank deposit sweep income (4)	5,223		9,057
Investment banking fees (5)	12,847		5,136
Other	6,126		4,686
Total receivables	$	39,861	$	32,773
Deferred revenue (payables):
Investment banking fees (6)	$	1,118	$	900
Total deferred revenue	$	1,118	$	900

(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.