Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

At December 31, 2018 and 2017, intangible assets subject to amortization consisted of the following:



	Weighted-Average	December 31, 2018				December 31, 2017
	Estimated Useful Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Technology	7.9	$	25,563	$	22,187	$	25,563	$	19,020
Relationships with financial advisors	14.3	126,122		59,584		117,995		49,925
Vendor relationships	7	3,613		3,613		3,613		3,613
Covenants not-to-compete	3.8	6,964		6,258		6,421		5,732
Customer accounts	8.3	2,029		2,029		2,029		2,029
Trade names	7.7	16,916		14,472		16,910		12,245
Renewal revenue ⁽¹⁾	—	—		—		41,381		17,737
Relationships 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		124
Other	6	67		67		67		67
Total		$	184,845	$	111,781	$	217,550	$	113,939

(1) Due to the adoption of ASC 606 on January 1, 2018, the Company eliminated the renewal revenue intangible asset, net, that was created through the Company's acquisition of Highland in 2014. See Note 4 for further information.

Aggregate amortization expense amounted to $15,578, $21,327 and $20,703 for the years ended December 31, 2018, 2017 and 2016, respectively. The weighted-average amortization period for total amortizable intangibles at December 31, 2018 is 9.84 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows:




2019	$	13,071
2020	11,466
2021	6,628
2022	6,554
2023	6,217
Thereafter	29,128
	$	73,064