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
Sep. 30, 2016
Dec. 31, 2015
ASSETS    
Cash and cash equivalents $ 105,989 $ 118,677
Securities owned, at fair value 3,646 4,079
Receivables from clearing brokers 35,018 44,466
Receivables from other broker-dealers 1,561 2,150
Notes receivable from financial advisors, net 29,180 26,967
Other receivables, net 51,689 48,564
Fixed assets, net 21,121 21,753
Restricted assets 1,011 1,011
Intangible assets, net 125,500 137,931
Goodwill 125,911 125,572
Cash surrender value of life insurance 9,616 9,247
Other assets 33,514 33,688
Total assets 543,756 574,105
LIABILITIES:    
Securities sold, but not yet purchased, at fair value 676 238
Accrued compensation 19,055 29,115
Commissions and fees payable 57,136 59,995
Accounts payable and accrued liabilities 37,189 30,804
Deferred rent 1,480 1,551
Deferred income taxes 10,145 4,416
Deferred compensation liability 17,308 17,211
Accrued interest 1,107 823
Notes payable, net of $1,001 and $1,492 unamortized discount in 2016 and 2015, respectively and net of debt issuance costs of $1 and $253 in 2016 and 2015, respectively. 48,364 53,921
Total liabilities 192,460 198,074
Commitments and contingencies
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; 15,844,916 and 14,683,021 shares issued and outstanding in 2016 and 2015, respectively (liquidation preference $396,123 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, 183,639,584 in 2016 and 182,338,038 in 2015 19 19
Additional paid-in capital 509,335 511,138
Accumulated deficit (158,055) (135,156)
Total shareholders’ equity of the Company 351,300 376,002
Noncontrolling interest (4) 29
Total shareholders' equity 351,296 376,031
Total liabilities and shareholders' equity $ 543,756 $ 574,105