Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

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Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Statement of Cash Flows [Abstract]    
Net loss $ (3,034) $ (13,999)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Change in fair value of contingent consideration 121 (7,111)
Adjustment to deferred rent 213 (398)
Amortization of intangible assets 8,760 8,774
Depreciation and other amortization 2,793 3,338
Loss on extinguishment of debt 4,200 0
Amortization of debt discount 1,068 1,496
Amortization of debt issue cost 334 358
Amortization of retention loans 5,339 5,295
Deferred income taxes 695 647
Benefit attributable to reduction of goodwill 58 52
Non-cash interest expense on forgivable loans 797 972
Non-cash compensation expense 4,439 3,645
Loss on write-off of furniture, fixtures and leasehold improvements, net 55 5
(Increase) decrease in operating assets:    
Securities owned, at fair value (1,756) 882
Receivables from clearing broker (13,910) (4,314)
Receivables from other broker-dealers 346 (1,018)
Other receivables, net (353) 1,262
Notes receivable from financial advisors, net 1,365 (1,320)
Cash surrender value of life insurance (413) 976
Other assets 728 303
Increase (decrease) in operating liabilities:    
Securities sold, but not yet purchased, at fair value 41 9
Accrued compensation 5,756 1,326
Accrued interest (3,033) 1,664
Commissions and fees payable 1,831 2,923
Deferred compensation liability 396 (898)
Accounts payable and accrued liabilities (630) (3,162)
Net cash provided by operating activities 16,206 1,707
Cash flows from investing activities:    
Purchases of fixed assets (4,606) (3,652)
Increase in restricted assets (250) 0
Net cash used in investing activities activities (4,856) (3,652)
Cash flows from financing activities:    
Issuance of Series A preferred stock 140,413 0
Issuance of common stock 424 722
Series A preferred stock dividends paid (3,907) 0
Repurchases of common stock (5,935) (1,146)
Principal payments on notes payable (101,525) (164)
Principal (repayments) borrowings under revolving credit facility, net (25,500) 1,100
Third party investment in subsidiary 120 0
Net cash provided by financing activities 4,090 512
Net increase (decrease) in cash and cash equivalents 15,440 (1,433)
Cash and cash equivalents, beginning of period 35,434 31,597
Cash and cash equivalents, end of period 50,874 30,164
Supplemental cash flow information:    
Interest paid 14,220 13,901
Taxes paid $ 426 $ 194