Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Financial Condition

v3.4.0.3
Condensed Consolidated Statements Of Financial Condition - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
ASSETS    
Cash and cash equivalents $ 96,529 $ 118,677
Securities owned, at fair value 3,780 4,079
Receivables from clearing brokers 34,160 44,466
Receivables from other broker-dealers 2,376 2,150
Notes receivable from financial advisors, net 27,456 26,967
Other receivables, net 50,954 48,564
Fixed assets, net 21,862 21,753
Restricted assets 1,011 1,011
Intangible assets, net 132,786 137,931
Goodwill 125,552 125,572
Cash surrender value of life insurance 8,133 9,247
Deferred tax asset 4,741 0
Other assets 32,366 33,688
Total assets 541,706 574,105
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Securities sold, but not yet purchased, at fair value 311 238
Accrued compensation 12,690 29,115
Commissions and fees payable 57,683 59,995
Accounts payable and accrued liabilities 29,657 30,804
Deferred rent 1,574 1,551
Deferred income taxes 0 4,416
Deferred compensation liability 16,315 17,211
Accrued interest 916 823
Notes payable, net of $1,328 and $1,492 unamortized discount in 2016 and 2015, respectively and net of debt issuance costs of $159 and $253 in 2016 and 2015, respectively. 52,333 53,921
Total liabilities $ 171,479 $ 198,074
Commitments and contingencies (Note 8)
SHAREHOLDERS' EQUITY:    
Preferred stock, $.0001 par value; authorized 25,000,000 shares in 2016 and 2015: 8% Series A cumulative redeemable preferred stock; authorized 17,290,000 shares in 2016 and 2015; 14,693,021 and 14,683,021 shares issued and outstanding in 2016 and 2015, respectively (liquidation preference $367,326 in 2016 and $367,076 in 2015) $ 1 $ 1
Common stock, $.0001 par value; authorized 800,000,000 shares in 2016 and 2015; shares issued and outstanding, 183,474,269 in 2016 and 182,338,038 in 2015 19 19
Additional paid-in capital 502,950 511,138
Accumulated deficit (132,754) (135,156)
Total shareholders’ equity of the Company 370,216 376,002
Noncontrolling interest 11 29
Total shareholders' equity 370,227 376,031
Total liabilities and shareholders' equity $ 541,706 $ 574,105