Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

v3.3.1.900
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
ASSETS    
Cash and cash equivalents $ 118,677 $ 103,087
Securities owned at fair value 4,079 5,910
Receivables from clearing brokers 44,466 38,760
Receivables from other broker-dealers 2,150 1,788
Notes receivable from financial advisors, net 26,967 26,152
Other receivables, net 48,564 36,872
Fixed assets, net 21,753 19,820
Restricted assets 1,011 620
Intangible assets, net 137,931 123,000
Goodwill 125,572 115,238
Unamortized debt issue cost 253 644
Cash surrender value of life insurance 9,247 10,419
Other assets 33,688 28,448
Total assets 574,358 510,758
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Securities sold, but not yet purchased, at fair value 238 230
Accrued compensation 29,115 23,483
Commissions and fees payable 59,995 45,294
Accounts payable and accrued liabilities 30,804 25,747
Deferred rent 1,551 1,514
Deferred income taxes 4,416 3,216
Deferred compensation liability 17,211 17,640
Accrued interest 823 1,129
Notes payable, net of $1,492 and $1,093 unamortized discount in 2015 and 2014, respectively 54,174 56,034
Total liabilities $ 198,327 $ 174,287
Commitments and contingencies (Note 13)
Shareholders’ equity:    
Preferred stock, $.0001 par value; authorized 25,000,000 shares in 2015 and 2014: 8% Series A cumulative redeemable preferred stock; authorized 17,290,000 shares in 2015 and 14,290,000 shares in 2014; shares issued and outstanding 14,683,021 in 2015 and 11,096,231 in 2014 (liquidation preference $367,076 in 2015 and $277,406 in 2014) $ 1 $ 1
Common stock, $.0001 par value; 800,000,000 shares authorized in 2015 and 2014; shares issued and outstanding, 182,338,038 in 2015 and 184,968,487 in 2014 19 18
Additional paid-in capital 511,138 460,446
Accumulated deficit (135,156) (124,005)
Total shareholders’ equity of the Company 376,002 336,460
Noncontrolling interest 29 11
Total shareholders' equity 376,031 336,471
Total liabilities and shareholders' equity $ 574,358 $ 510,758