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
Mar. 31, 2017
Dec. 31, 2016
ASSETS    
Cash and cash equivalents $ 75,643 $ 98,930
Securities owned, at fair value 3,319 3,543
Receivables from clearing brokers 44,200 41,492
Receivables from other broker-dealers 2,207 853
Notes receivable from financial advisors, net 33,486 32,611
Other receivables, net 55,067 54,634
Fixed assets, net 21,699 21,253
Restricted assets 1,011 1,011
Intangible assets, net 119,452 124,938
Goodwill 124,031 124,031
Cash surrender value of life insurance 10,618 10,210
Other assets 33,315 32,497
Total assets 524,048 546,003
LIABILITIES:    
Securities sold, but not yet purchased, at fair value 333 382
Accrued compensation 14,121 26,299
Commissions and fees payable 63,433 60,594
Accounts payable and accrued liabilities 40,162 39,876
Deferred rent 1,942 1,764
Deferred income taxes 9,685 10,642
Deferred compensation liability 17,308 17,247
Accrued interest 342 281
Notes payable, net of $760 and $872 unamortized discount in 2017 and 2016, respectively. 24,563 26,417
Total liabilities 171,889 183,502
Commitments and contingencies (Note 7)
SHAREHOLDERS' EQUITY:    
Preferred stock, $.0001 par value; authorized 50,000,000 shares in 2017 and 2016: 8% Series A cumulative redeemable preferred stock; authorized 17,290,000 shares in 2017 and 2016; 15,844,916 shares issued and outstanding in 2017 and 2016, (liquidation preference $396,123 in 2017 and 2016) 1 1
Common stock, $.0001 par value; authorized 1,000,000,000 shares in 2017 and 2016; shares issued and outstanding, 195,533,886 in 2017 and 194,057,738 in 2016 19 19
Additional paid-in capital 513,267 519,879
Accumulated deficit (161,150) (157,425)
Total shareholders’ equity of the Company 352,137 362,474
Noncontrolling interest 22 27
Total shareholders' equity 352,159 362,501
Total liabilities and shareholders' equity $ 524,048 $ 546,003