Quarterly report pursuant to Section 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
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Statement of Cash Flows [Abstract]    
Net income (loss) $ 7,187 $ (5,413)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Change in fair value of contingent consideration (12) 121
Adjustment to deferred rent (182) (372)
Amortization of intangible assets 5,640 5,865
Depreciation and other amortization 1,986 1,912
Loss on extinguishment of debt 314 3,754
Amortization of debt discount 257 898
Amortization of debt issue cost 198 233
Amortization of retention loans 3,570 3,649
Deferred income taxes 532 458
Benefit attributable to reduction of goodwill 39 38
Non-cash interest expense on forgivable loans 419 460
Non-cash compensation expense 4,010 2,792
Loss on write-off of furniture, fixtures and leasehold improvements, net 6 176
(Increase) decrease in operating assets:    
Securities owned, at fair value 302 (4,842)
Receivables from clearing broker (4,926) (14,469)
Receivables from other broker-dealers (3,604) (2,447)
Other receivables, net (2,617) 1,392
Notes receivable from financial advisors, net (826) 1,267
Cash surrender value of life insurance 447 203
Other assets (288) (176)
Increase (decrease) in operating liabilities:    
Securities sold, but not yet purchased, at fair value 270 4,327
Accrued compensation (3,005) 2,079
Accrued interest (275) (3,856)
Commissions and fees payable 5,906 (196)
Deferred compensation liability (154) (291)
Accounts payable and accrued liabilities (5,403) 3,182
Net cash provided by operating activities 9,791 744
Cash flows from investing activities:    
Purchases of fixed assets (4,725) (3,037)
Decrease in restricted assets 100 0
Net cash used in investing activities (4,625) (3,037)
Cash flows from financing activities:    
Issuance of Series A preferred stock 47,011 128,070
Issuance of common stock 1,571 368
Series A preferred stock dividends paid (6,935) (1,028)
Repurchases of common stock (3,416) (745)
Term loan additional borrowing 500  
Principal payments on notes payable (10,485) (90,466)
Principal repayments under revolving credit facility, net 0 (25,500)
Third party investment in subsidiary 0 60
Net cash provided by financing activities 28,246 10,759
Net increase in cash and cash equivalents 33,412 8,466
Cash and cash equivalents, beginning of period 50,329 35,434
Cash and cash equivalents, end of period 83,741 43,900
Supplemental cash flow information:    
Interest paid 2,887 14,508
Taxes paid $ 1,507 $ 290