| Intangible Assets |
Intangible Assets
At March 31, 2016 and December 31, 2015, intangible assets subject to amortization consisted of the following:
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March 31, 2016 |
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December 31, 2015 |
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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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$ |
13,305 |
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$ |
25,563 |
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$ |
12,488 |
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Relationships with financial advisors |
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15.2 |
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110,671 |
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34,136 |
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110,671 |
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32,028 |
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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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3,613 |
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Covenants not-to-compete |
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3.9 |
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6,035 |
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3,667 |
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6,035 |
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3,347 |
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Customer accounts |
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8.3 |
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2,029 |
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1,827 |
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2,029 |
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1,765 |
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Trade names |
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7.7 |
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16,910 |
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8,347 |
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16,910 |
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7,790 |
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Renewal revenue |
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7.9 |
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41,381 |
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8,540 |
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41,381 |
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7,263 |
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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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105 |
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124 |
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101 |
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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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$ |
77,054 |
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$ |
209,840 |
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$ |
71,909 |
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Aggregate amortization expense for the three months ended March 31, 2016 and 2015, respectively, amounted to $5,145 and $5,109. The weighted-average amortization period for total amortizable intangibles at March 31, 2016 is 9.57 years. As of March 31, 2016, remaining estimated amortization expense for each of the five succeeding years and thereafter is as follows:
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2016 |
$ |
15,502 |
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2017 |
20,208 |
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2018 |
19,424 |
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2019 |
15,875 |
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2020 |
14,491 |
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2021 - 2039 |
47,286 |
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$ |
132,786 |
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