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, 2018
Dec. 31, 2017
Mar. 31, 2017
ASSETS      
Cash and cash equivalents $ 145,417 $ 172,103 $ 75,643
Securities owned, at fair value 4,104 3,881  
Receivables from clearing brokers 55,842 48,543  
Receivables from other broker-dealers 2,263 2,822  
Notes receivable from financial advisors, net 6,522 47,369  
Other receivables, net 122,154 60,707  
Fixed assets, net 23,886 23,621  
Restricted cash 760 760  
Intangible assets, net 76,131 103,611  
Goodwill 124,210 124,210  
Contract acquisition costs, net 73,234 0  
Cash surrender value of life insurance 12,691 12,711  
Other assets 36,941 31,687  
Total assets 684,155 632,025 $ 524,048
LIABILITIES:      
Securities sold, but not yet purchased, at fair value 235 231  
Accrued compensation 18,828 33,343  
Commissions and fees payable 95,937 67,221  
Accounts payable and accrued liabilities 52,205 40,478  
Deferred rent 2,571 2,151  
Deferred income taxes 6,532 2,968  
Deferred compensation liability 18,340 18,161  
Accrued interest 261 232  
Notes payable, net of unamortized discount of $357 and $424 in 2018 and 2017, respectively and net of debt issuance costs of $3,418 and $3,412 in 2018 and 2017, respectively. 98,997 96,849  
Total liabilities 293,906 261,634  
Commitments and contingencies (Note 9)  
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 2018 and 2017; shares issued and outstanding 17,012,075 in 2018 and 2017 (liquidation preference $425,302 in 2018 and 2017) 2 2  
Common stock, $.0001 par value; authorized 1,000,000,000 shares in 2018 and 2017; shares issued and outstanding, 200,517,787 in 2018 and 198,583,941 in 2017 20 20  
Additional paid-in capital 510,409 520,135  
Accumulated deficit (120,206) (149,778)  
Total shareholders’ equity of the Company 390,225 370,379  
Noncontrolling interest 24 12  
Total shareholders' equity 390,249 370,391  
Total liabilities and shareholders' equity $ 684,155 $ 632,025