Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.20.1
Intangible Assets
12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
Intangible Assets

At December 31, 2019 and 2018, intangible assets subject to amortization consisted of the following:
 
 
Weighted-Average
 
December 31, 2019
 
December 31, 2018
  
 
Estimated Useful Life (years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Gross Carrying Amount
 
Accumulated Amortization
Technology
 
7.9
 
$
25,563

 
$
23,846

 
$
25,563

 
$
22,187

Relationships with financial advisors
 
14.3
 
126,122

 
70,045

 
126,122

 
59,584

Vendor relationships
 
7
 
3,613

 
3,613

 
3,613

 
3,613

Covenants not-to-compete
 
3.8
 
6,964

 
6,692

 
6,964

 
6,258

Customer accounts
 
8.3
 
2,029

 
2,029

 
2,029

 
2,029

Trade names
 
7.7
 
16,921

 
14,989

 
16,916

 
14,472

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
 
 
 
$
184,850

 
$
124,852

 
$
184,845

 
$
111,781




Aggregate amortization expense amounted to $13,071, $15,578 and $21,327 for the years ended December 31, 2019, 2018 and 2017, respectively. The weighted-average amortization period for total amortizable intangibles at December 31, 2019 is 9.77 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows:

 
 
2020
$
11,466

2021
6,628

2022
6,555

2023
6,217

2024
5,380

Thereafter
23,752

  
$
59,998