Annual report pursuant to section 13 and 15(d)

Condensed Consolidated Statements Of Financial Condition

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Condensed Consolidated Statements Of Financial Condition (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
ASSETS    
Cash and cash equivalents $ 35,434 $ 31,597
Securities owned, at fair value 2,078 2,014
Receivables from clearing brokers 16,973 18,399
Receivables from other broker-dealers 2,149 513
Notes receivable from financial advisors, net 39,148 44,308
Other receivables, net 20,534 18,873
Fixed assets, net 13,199 12,011
Restricted assets 320 320
Intangible assets, net 87,988 98,829
Goodwill 90,578 91,161
Unamortized debt issue cost 1,768 2,246
Cash surrender value of life insurance 11,207 12,161
Other assets 16,753 14,713
Total assets 338,129 347,145
LIABILITIES AND SHAREHOLDERS' EQUITY    
Securities sold, but not yet purchased, at fair value 292 78
Accrued compensation 12,017 10,499
Commissions and fees payable 31,570 25,891
Accounts payable and accrued liabilities 13,735 19,203
Deferred rent 1,977 2,333
Deferred income taxes 6,545 6,548
Deferred compensation liability 17,955 18,701
Accrued interest 4,838 3,265
Notes payable, net of $7,120 and $9,113 unamoritized discount in 2012 and 2011, respectively 197,979 197,184
Total liabilities 286,908 283,702
Commitments and contingencies (Notes 3 and 13) 0 0
Shareholders' equity:    
Preferred stock, $.0001 par value; 2,000,000 shares authorized; none issued 0 0
Common stock, $.0001 par value; 400,000,000 shares authorized; shares issued and outstanding, 183,478,872 in 2012 and 183,253,068 in 2011 18 18
Additional paid-in capital 208,187 204,055
Accumulated deficit (156,984) (140,630)
Total shareholders' equity 51,221 63,443
Total liabilities and shareholders' equity $ 338,129 $ 347,145