| Intangible Assets |
Intangible Assets
At September 30, 2015 and December 31, 2014, intangible assets subject to amortization consisted of the following:
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September 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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$ |
11,672 |
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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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29,920 |
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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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3,613 |
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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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6,035 |
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3,026 |
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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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1,703 |
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2,029 |
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1,516 |
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Renewal revenue |
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7.7 |
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42,142 |
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5,927 |
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39,503 |
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2,099 |
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Trade names |
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7.9 |
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16,910 |
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7,233 |
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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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96 |
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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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$ |
210,601 |
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$ |
66,704 |
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$ |
174,259 |
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$ |
51,258 |
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Aggregate amortization expense for the nine months ended September 30, 2015 and 2014, respectively, amounted to $15,445 and $9,360. The weighted-average amortization period for total amortizable intangibles at September 30, 2015 is 9.83 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows:
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2015 |
$ |
5,204 |
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2016 |
20,773 |
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2017 |
20,297 |
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2018 |
19,512 |
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2019 |
15,964 |
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2020 - 2027 |
62,147 |
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$ |
143,897 |
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