| Intangible Assets |
Intangible Assets
At December 31, 2015 and 2014, intangible assets subject to amortization consisted of the following:
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Weighted-Average |
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December 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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7.9 |
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$ |
25,563 |
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$ |
12,488 |
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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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32,028 |
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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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3,347 |
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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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1,765 |
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2,029 |
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1,516 |
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Trade names |
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7.7 |
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16,910 |
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7,790 |
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15,154 |
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2,099 |
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Renewal revenue |
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7.9 |
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41,381 |
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7,263 |
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39,503 |
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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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101 |
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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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$ |
209,840 |
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$ |
71,909 |
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$ |
174,259 |
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$ |
51,258 |
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Aggregate amortization expense amounted to $20,650, $14,056 and $11,594 for the years ended December 31, 2015, 2014 and 2013, respectively. The weighted-average amortization period for total amortizable intangibles at December 31, 2015 is 9.69 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows:
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2016 |
$ |
20,680 |
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2017 |
20,203 |
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2018 |
19,419 |
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2019 |
15,871 |
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2020 |
14,486 |
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Thereafter |
47,272 |
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$ |
137,931 |
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