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, 2017
Dec. 31, 2016
ASSETS    
Cash and cash equivalents $ 88,852 $ 98,930
Securities owned, at fair value 4,267 3,543
Receivables from clearing brokers 55,422 41,492
Receivables from other broker-dealers 2,346 853
Notes receivable from financial advisors, net 33,923 32,611
Other receivables, net 50,119 54,634
Fixed assets, net 22,118 21,253
Restricted assets 760 1,011
Intangible assets, net 114,051 124,938
Goodwill 124,031 124,031
Cash surrender value of life insurance 11,761 10,210
Other assets 30,638 32,497
Total assets 538,288 546,003
LIABILITIES:    
Securities sold, but not yet purchased, at fair value 351 382
Accrued compensation 20,743 26,299
Commissions and fees payable 61,696 60,594
Accounts payable and accrued liabilities 38,202 39,876
Deferred rent 1,999 1,764
Deferred income taxes 9,290 10,642
Deferred compensation liability 17,904 17,247
Accrued interest 410 281
Notes payable, net of $647 and $872 unamortized discount in 2017 and 2016, respectively. 30,573 26,417
Total liabilities 181,168 183,502
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 23,844,916 shares in 2017 and 17,290,000 in 2016; shares issued and outstanding 16,243,175 in 2017 and 15,844,916 in 2016, (liquidation preference $406,079 and $396,123 in 2017 and 2016) 2 1
Common stock, $.0001 par value; authorized 1,000,000,000 shares in 2017 and 2016; shares issued and outstanding, 196,616,897 in 2017 and 194,057,738 in 2016 20 19
Additional paid-in capital 516,901 519,879
Accumulated deficit (159,822) (157,425)
Total shareholders’ equity of the Company 357,101 362,474
Noncontrolling interest 19 27
Total shareholders' equity 357,120 362,501
Total liabilities and shareholders' equity $ 538,288 $ 546,003