Annual report pursuant to section 13 and 15(d)

Notes Payable (Tables)

v2.4.0.6
Notes Payable (Tables)
12 Months Ended
Dec. 31, 2012
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]

Notes payable consisted of the following:

   
  December 31,
     2012   2011
Note payable under revolving credit agreement with principal shareholder   $ 25,500     $ 22,550  
Notes payable to clearing firm under forgivable loans     18,214       22,143  
Note payable to a subsidiary of Premier Trust’s former shareholder     685       904  
Notes payable to finance Securities America acquisition, net of $7,120 and $9,113 of unamortized discount in 2012 and 2011, respectively     153,580       151,587  
Total   $ 197,979     $ 197,184
Schedule For Black Scholes Pricing Assumption For Warrant Valuation [Table Text Block]

The warrants were valued at $9,428 utilizing the Black-Scholes option pricing model using the following inputs:

 
Dividend yield     0.00 % 
Expected volatility     62.19 % 
Risk-free interest rate     0.88 % 
Expected life (in years)     5