Quarterly report pursuant to Section 13 or 15(d)

Segment Information - Reconciliation of EBITDA (Details)

v3.19.3
Segment Information - Reconciliation of EBITDA (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Segment Reporting Information [Line Items]        
Income (loss) before income taxes $ 15,297 $ 12,657 $ 29,638 $ 34,177
Adjustments:        
Interest income (882) (810) (2,138) (1,688)
Change in fair value of contingent consideration 93 54 290 165
Interest 6,218 3,206 16,840 7,226
Depreciation and amortization 5,246 5,845 17,057 17,416
Non-cash compensation expense 1,536 1,380 4,474 4,442
Amortization of retention and forgivable loans 139 97 391 280
Amortization of contract acquisition costs 2,988 2,488 8,639 7,059
Financial advisor recruiting expense 9 115 18 291
Acquisition-related expense 0 0 24 913
Income attributable to noncontrolling interest 79 (13) 58 (22)
Other 363 290 2,880 1,053
EBITDA, as adjusted 31,086 25,309 78,171 71,312
Non-cash compensation expense 1,536 1,380 4,474 4,442
Professional services 4,810 4,531 14,514 14,860
Reversal of write off of sublease commitment (275)   (275)  
Other Adjustments to Income        
Adjustments:        
Severance costs 160 0 1,269 174
Excise and franchise tax expense 134 164 416 486
Non-cash compensation expense 399 126 1,256 393
Professional services (55)   214  
Corporate        
Segment Reporting Information [Line Items]        
Income (loss) before income taxes (11,851) (6,557) (33,474) (19,418)
Adjustments:        
Interest 6,026 2,817 16,308 5,900
Depreciation and amortization 5 5 16 13
Non-cash compensation expense 1,107 887 3,173 2,864
EBITDA, as adjusted (4,933) (3,264) (13,246) (11,266)
Independent Advisory and Brokerage Services | Operating Segments        
Segment Reporting Information [Line Items]        
Income (loss) before income taxes 20,238 18,538 52,334 45,926
Adjustments:        
Interest 133 311 365 861
Depreciation and amortization 4,653 5,457 15,270 16,332
Non-cash compensation expense 251 317 765 936
EBITDA, as adjusted 28,466 27,224 78,040 72,456
Ladenburg | Operating Segments        
Segment Reporting Information [Line Items]        
Income (loss) before income taxes 5,191 821 8,524 7,113
Adjustments:        
Interest 1 2 (10) 50
Depreciation and amortization 120 122 359 345
Non-cash compensation expense 178 176 536 529
EBITDA, as adjusted 5,210 1,110 9,217 8,029
Insurance Brokerage | Operating Segments        
Segment Reporting Information [Line Items]        
Income (loss) before income taxes 1,719 (145) 2,254 556
Adjustments:        
Interest 58 76 177 415
Depreciation and amortization 468 261 1,412 726
Non-cash compensation expense 0 0 0 113
EBITDA, as adjusted $ 2,343 $ 239 $ 4,160 $ 2,093