Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
ASSETS    
Cash and cash equivalents $ 96,739 $ 118,677
Securities owned, at fair value 3,763 4,079
Receivables from clearing brokers 31,885 44,466
Receivables from other broker-dealers 2,280 2,150
Notes receivable from financial advisors, net 27,724 26,967
Other receivables, net 52,874 48,564
Fixed assets, net 21,663 21,753
Restricted assets 1,011 1,011
Intangible assets, net 127,605 137,931
Goodwill 125,533 125,572
Cash surrender value of life insurance 8,204 9,247
Other assets 32,790 33,688
Total assets 532,071 574,105
LIABILITIES:    
Securities sold, but not yet purchased, at fair value 628 238
Accrued compensation 17,931 29,115
Commissions and fees payable 55,523 59,995
Accounts payable and accrued liabilities 26,825 30,804
Deferred rent 1,481 1,551
Deferred income taxes 10,876 4,416
Deferred compensation liability 16,632 17,211
Accrued interest 1,011 823
Notes payable, net of $1,165 and $1,492 unamortized discount in 2016 and 2015, respectively and net of debt issuance costs of $65 and $253 in 2016 and 2015, respectively. 50,683 53,921
Total liabilities 181,590 198,074
Commitments and contingencies (Note 8)
SHAREHOLDERS' EQUITY:    
Preferred stock, $.0001 par value; authorized 50,000,000 shares in 2016 and 25,000,000 shares in 2015: 8% Series A cumulative redeemable preferred stock; authorized 17,290,000 shares in 2016 and 2015; 15,055,448 and 14,683,021 shares issued and outstanding in 2016 and 2015, respectively (liquidation preference $376,386 in 2016 and $367,076 in 2015) 1 1
Common stock, $.0001 par value; authorized 1,000,000,000 shares in 2016 and 800,000,000 shares in 2015; shares issued and outstanding, 182,976,482 in 2016 and 182,338,038 in 2015 19 19
Additional paid-in capital 501,005 511,138
Accumulated deficit (150,541) (135,156)
Noncontrolling interest (3) 29
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 350,481 376,031
Total shareholders' equity 350,484 376,002
Total liabilities and shareholders' equity $ 532,071 $ 574,105