| Intangible Assets |
Intangible Assets
At March 31, 2015 and December 31, 2014, intangible assets subject to amortization consisted of the following:
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March 31, 2015 |
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December 31, 2014 |
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Estimated Useful Life (years) |
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Gross Carrying Amount |
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Accumulated Amortization |
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Gross Carrying Amount |
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Accumulated Amortization |
Technology |
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1 & 7.7 |
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$ |
25,563 |
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$ |
10,039 |
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$ |
23,483 |
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$ |
9,223 |
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Relationships with financial advisors |
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20, 10.2 &
9.2 |
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108,092 |
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25,748 |
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81,438 |
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23,704 |
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Vendor relationships |
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7 |
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3,613 |
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3,520 |
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3,613 |
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3,458 |
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Covenants not-to-compete |
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5, 3 & 2.2 |
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5,812 |
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2,404 |
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5,401 |
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2,100 |
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Customer accounts |
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10 & 6.9 |
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2,029 |
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1,578 |
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2,029 |
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1,516 |
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Renewal revenue |
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7.8 |
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39,503 |
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3,358 |
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39,503 |
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2,099 |
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Trade names |
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10, 7.2 & 9 |
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16,910 |
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6,120 |
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15,154 |
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5,563 |
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Relationships with investment banking clients |
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4 |
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2,586 |
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2,586 |
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2,586 |
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2,586 |
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Leases |
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6.4 |
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861 |
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861 |
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861 |
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861 |
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Referral agreement |
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6.6 |
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124 |
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87 |
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124 |
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81 |
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Other |
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6 |
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67 |
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67 |
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67 |
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67 |
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Total |
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$ |
205,160 |
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$ |
56,368 |
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$ |
174,259 |
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$ |
51,258 |
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Aggregate amortization expense for the three months ended March 31, 2015 and 2014, respectively, amounted to $5,109 and $2,821. The weighted-average amortization period for total amortizable intangibles at March 31, 2015 is 10.16 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows:
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2015 |
$ |
15,232 |
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2016 |
20,142 |
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2017 |
19,666 |
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2018 |
18,898 |
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2019 |
15,194 |
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2020 – 2027 |
59,660 |
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$ |
148,792 |
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