Revenue from contracts with customers (Tables)

12 Months Ended

Dec. 31, 2024

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 years ended December 31, 2024 and 2023:


	For the Year Ended December 31, 2024
	Reportable Segments
		Wealth Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading		$	188,783	$	188,113	$	14	$	376,910
Mutual fund and insurance income		32,775		4		21		32,800
Advisory fees		483,391		—		42		483,433
Investment banking - capital markets		11,155		58,022		—		69,177
Investment banking - advisory		46		107,224		—		107,270
Bank deposit sweep income		138,770		—		—		138,770
Other		12,837		2,864		4,987		20,688
Total revenue from contracts with customers		867,757		356,227		5,064		1,229,048
Other sources of revenue:
Interest		88,714		39,299		7,524		135,537
Principal transactions, net		3,263		51,382		39		54,684
Other		12,318		671		238		13,227
Total other sources of revenue		104,295		91,352		7,801		203,448
Total revenue		$	972,052	$	447,579	$	12,865	$	1,432,496


(Expressed in thousands)	For the Year Ended December 31, 2023
	Reportable Segments
		Wealth Management		Capital Markets		Corporate/Other		Total
Revenue from contracts with customers:
Commissions from sales and trading		$	155,039	$	162,706	$	23	$	317,768
Mutual fund and insurance income		31,457		7		16		31,480
Advisory fees		415,450		—		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		15,499		1,436		166		17,101
Total revenue from contracts with customers		797,795		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		3,887		858		1,683		6,428
Total other sources of revenue		92,392		71,626		12,307		176,325
Total revenue		$	890,187	$	345,897	$	12,741	$	1,248,825

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, 2024		December 31, 2023
Receivables:
Commission (1)	$	4,408	$	4,554
Mutual fund and insurance income (2)	5,838		5,365
Advisory fees (3)	11,271		5,746
Bank deposit sweep income (4)	4,748		5,223
Investment banking fees (5)	14,798		12,847
Other	5,124		6,126
Total receivables	$	46,187	$	39,861
Deferred revenue (payables):
Investment Banking fees (6)	$	28	$	1,118
Software license fees (7)	902		—

	$	930	$	1,118

(1) Commission earned but not yet received.

(2) Mutual fund and insurance 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) Software license fees received upfront from customers and recognized ratably over the contract period.