Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
ASSETS    
Cash and cash equivalents $ 172,103 $ 98,930
Securities owned, at fair value 3,881 3,543
Receivables from clearing brokers 48,543 41,492
Receivables from other broker-dealers 2,822 853
Notes receivable from financial advisors, net 46,778 32,611
Other receivables, net 60,707 54,634
Fixed assets, net 23,621 21,253
Restricted assets 760 1,011
Intangible assets, net 103,611 124,938
Goodwill 124,210 124,031
Cash surrender value of life insurance 12,711 10,210
Other assets 32,278 32,497
Total assets 632,025 546,003
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Securities sold, but not yet purchased, at fair value 231 382
Accrued compensation 33,343 26,299
Commissions and fees payable 67,221 60,594
Accounts payable and accrued liabilities 40,478 39,876
Deferred rent 2,151 1,764
Deferred income taxes 2,968 10,642
Deferred compensation liability 18,161 17,247
Accrued interest 232 281
Notes payable, net of unamortized discount of$424 and $872 in 2017 and 2016, respectively, and net of debt issuance costs of $3,412 and $0 in 2017 and 2016, respectively. 96,849 26,417
Total liabilities 261,634 183,502
Commitments and contingencies (Note 13)
Shareholders’ equity:    
Preferred stock, $.0001 par value; authorized 50,000,000 shares: 8% Series A cumulative redeemable preferred stock; designated 23,844,916 shares in 2017 and 17,290,000 shares in 2016; shares issued and outstanding 17,012,075 in 2017 and 15,844,916 in 2016 (liquidation preference $425,302 in 2017 and $396,123 in 2016) 2 1
Common stock, $.0001 par value; authorized 1,000,000,000 shares in 2017 and 2016; shares issued and outstanding, 198,583,941 in 2017 and 194,057,738 in 2016 20 19
Additional paid-in capital 520,135 519,879
Accumulated deficit (149,778) (157,425)
Total shareholders’ equity of the Company 370,379 362,474
Noncontrolling interest 12 27
Total shareholders' equity 370,391 362,501
Total liabilities and shareholders' equity $ 632,025 $ 546,003