| Schedule of Intangible Assets |
At December 31, 2018 and 2017, intangible assets subject to amortization consisted of the following:
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Weighted-Average |
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December 31, 2018 |
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December 31, 2017 |
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Estimated Useful Life (years) |
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Gross Carrying Amount |
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Accumulated Amortization |
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Gross Carrying Amount |
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Accumulated Amortization |
Technology |
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7.9 |
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$ |
25,563 |
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$ |
22,187 |
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$ |
25,563 |
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$ |
19,020 |
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Relationships with financial advisors |
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14.3 |
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126,122 |
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59,584 |
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117,995 |
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49,925 |
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Vendor relationships |
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7 |
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3,613 |
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3,613 |
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3,613 |
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3,613 |
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Covenants not-to-compete |
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3.8 |
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6,964 |
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6,258 |
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6,421 |
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5,732 |
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Customer accounts |
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8.3 |
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2,029 |
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2,029 |
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2,029 |
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2,029 |
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Trade names |
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7.7 |
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16,916 |
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14,472 |
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16,910 |
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12,245 |
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Renewal revenue (1)
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— |
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— |
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— |
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41,381 |
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17,737 |
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Relationships with investment banking clients |
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4 |
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2,586 |
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2,586 |
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2,586 |
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2,586 |
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Leases |
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6 |
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861 |
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861 |
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861 |
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861 |
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Referral agreement |
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6.6 |
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124 |
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124 |
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124 |
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124 |
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Other |
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6 |
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67 |
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67 |
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67 |
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67 |
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Total |
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$ |
184,845 |
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$ |
111,781 |
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$ |
217,550 |
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$ |
113,939 |
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(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.
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Estimated amortization expense for each of the five succeeding years and thereafter is as follows:
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2019 |
$ |
13,071 |
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2020 |
11,466 |
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2021 |
6,628 |
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2022 |
6,554 |
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2023 |
6,217 |
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Thereafter |
29,128 |
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$ |
73,064 |
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