| Intangible Assets |
Intangible Assets
At March 31, 2017 and December 31, 2016, intangible assets subject to amortization consisted of the following:
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March 31, 2017 |
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December 31, 2016 |
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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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$ |
16,571 |
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$ |
25,563 |
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$ |
15,754 |
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Relationships with financial advisors |
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14.7 |
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117,995 |
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42,920 |
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117,995 |
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40,505 |
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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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6,421 |
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4,990 |
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6,421 |
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4,638 |
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Customer accounts |
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8.3 |
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2,029 |
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1,997 |
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2,029 |
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1,971 |
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Trade names |
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7.7 |
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16,910 |
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10,574 |
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16,910 |
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10,017 |
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Renewal revenue |
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7.9 |
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41,381 |
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13,795 |
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41,381 |
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12,481 |
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Relationship 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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124 |
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124 |
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119 |
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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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$ |
217,550 |
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$ |
98,098 |
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$ |
217,550 |
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$ |
92,612 |
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Aggregate amortization expense for the three months ended March 31, 2017 and 2016 amounted to $5,486 and $5,145, respectively. The weighted-average amortization period for total amortizable intangibles at March 31, 2017 is 9.05 years. As of March 31, 2017, the remaining estimated amortization expense for each of the five succeeding years and thereafter is as follows:
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Remainder of 2017 |
$ |
15,841 |
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2018 |
20,462 |
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2019 |
16,987 |
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2020 |
15,400 |
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2021 |
10,687 |
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2022 - 2039 |
40,075 |
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$ |
119,452 |
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