| Intangible Assets |
Intangible Assets
At June 30, 2015 and December 31, 2014, intangible assets subject to amortization consisted of the following:
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June 30, 2015 |
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December 31, 2014 |
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Weighted-Average 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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7.9 |
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$ |
25,563 |
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$ |
10,856 |
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$ |
23,483 |
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$ |
9,223 |
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Relationships with financial advisors |
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15.2 |
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110,671 |
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27,811 |
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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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3,582 |
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3,613 |
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3,458 |
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Covenants not-to-compete |
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3.9 |
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5,908 |
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2,710 |
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5,401 |
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2,100 |
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Customer accounts |
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8.3 |
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2,029 |
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1,640 |
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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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4,617 |
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39,503 |
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2,099 |
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Trade names |
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7.7 |
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16,910 |
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6,677 |
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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 |
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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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91 |
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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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$ |
207,835 |
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$ |
61,498 |
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$ |
174,259 |
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$ |
51,258 |
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Aggregate amortization expense for the six months ended June 30, 2015 and 2014, respectively, amounted to $10,240 and $5,640. The weighted-average amortization period for total amortizable intangibles at June 30, 2015 is 10.01 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows:
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2015 |
$ |
10,265 |
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2016 |
20,424 |
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2017 |
19,947 |
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2018 |
19,180 |
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2019 |
15,462 |
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2020 - 2027 |
61,059 |
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$ |
146,337 |
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