| Intangible Assets |
Intangible Assets
At June 30, 2017 and December 31, 2016, intangible assets subject to amortization consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017 |
|
December 31, 2016 |
|
|
Weighted-Average Estimated Useful Life (years) |
|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Gross Carrying Amount |
|
Accumulated Amortization |
Technology |
|
7.9 |
|
$ |
25,563 |
|
|
$ |
17,387 |
|
|
$ |
25,563 |
|
|
$ |
15,754 |
|
Relationships with financial advisors |
|
14.7 |
|
117,995 |
|
|
45,255 |
|
|
117,995 |
|
|
40,505 |
|
Vendor relationships |
|
7 |
|
3,613 |
|
|
3,613 |
|
|
3,613 |
|
|
3,613 |
|
Covenants not-to-compete |
|
3.9 |
|
6,421 |
|
|
5,343 |
|
|
6,421 |
|
|
4,638 |
|
Customer accounts |
|
8.3 |
|
2,029 |
|
|
2,023 |
|
|
2,029 |
|
|
1,971 |
|
Trade names |
|
7.7 |
|
16,910 |
|
|
11,131 |
|
|
16,910 |
|
|
10,017 |
|
Renewal revenue |
|
7.9 |
|
41,381 |
|
|
15,109 |
|
|
41,381 |
|
|
12,481 |
|
Relationship with investment banking clients |
|
4 |
|
2,586 |
|
|
2,586 |
|
|
2,586 |
|
|
2,586 |
|
Leases |
|
6 |
|
861 |
|
|
861 |
|
|
861 |
|
|
861 |
|
Referral agreement |
|
6.6 |
|
124 |
|
|
124 |
|
|
124 |
|
|
119 |
|
Other |
|
6 |
|
67 |
|
|
67 |
|
|
67 |
|
|
67 |
|
Total |
|
|
|
$ |
217,550 |
|
|
$ |
103,499 |
|
|
$ |
217,550 |
|
|
$ |
92,612 |
|
Aggregate amortization expense for the six months ended June 30, 2017 and 2016 amounted to $10,887 and $10,326, respectively. The weighted-average amortization period for total amortizable intangibles at June 30, 2017 is 8.97 years. As of June 30, 2017, the remaining estimated amortization expense for each of the five succeeding years and thereafter is as follows:
|
|
|
|
|
|
|
Remainder of 2017 |
$ |
10,440 |
|
2018 |
20,462 |
|
2019 |
16,987 |
|
2020 |
15,400 |
|
2021 |
10,687 |
|
2022 - 2039 |
40,075 |
|
|
$ |
114,051 |
|
|