Annual report pursuant to section 13 and 15(d)

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

v2.3.0.11
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (USD $)
In Thousands
Dec. 31, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 22,628 $ 6,927
Securities owned, at fair value 2,014 2,662
Receivables from clearing brokers 27,368 18,073
Receivables from other broker-dealers 513 1,364
Notes receivable from financial advisors, net 44,308 1,464
Other receivables, net 18,873 7,698
Fixed assets, net 12,011 2,805
Restricted assets 320 200
Intangible assets, net 98,829 26,431
Goodwill 91,161 29,719
Unamortized debt issue cost 2,246 1,597
Cash surrender value of life insurance 12,161  
Other assets 14,713 2,885
Total assets 347,145 101,825
LIABILITIES AND SHAREHOLDERS' EQUITY    
Securities sold, but not yet purchased, at fair value 78 10
Accrued compensation 10,499 5,328
Commissions and fees payable 25,891 9,264
Accounts payable and accrued liabilities 19,203 6,751
Deferred rent 2,333 2,928
Deferred income taxes 6,548 2,418
Deferred compensation liability 18,701  
Accrued interest 3,265 328
Notes payable, net of $9,113 unamortized discount in 2011 197,184 27,879
Total liabilities 283,702 54,906
Commitments and contingencies (Notes 3 and 13)    
Shareholders' equity:    
Preferred stock, $.0001 par value; 2,000,000 shares authorized; none issued    
Common stock, $.0001 par value; 400,000,000 shares authorized; shares issued and outstanding, 183,253,068 in 2011 and 183,496,492 in 2010 18 18
Additional paid-in capital 204,055 191,424
Accumulated deficit (140,630) (144,523)
Total shareholders' equity 63,443 46,919
Total liabilities and shareholders' equity $ 347,145 $ 101,825