Quarterly report pursuant to Section 13 or 15(d)

Notes Receivable from Financial Advisors

v3.19.2
Notes Receivable from Financial Advisors
6 Months Ended
Jun. 30, 2019
Receivables [Abstract]  
Notes Receivable from Financial Advisors
Notes Receivable from Financial Advisors

From time to time, the Company’s subsidiaries may make loans to their financial advisors. The notes receivable balance is comprised of unsecured non-interest-bearing and interest-bearing loans (interest of up to 10.0%) to the financial advisors. These notes have various schedules for repayment or forgiveness and mature at various dates through 2026.
The notes are amortized over the forgiveness period, which generally ranges from 3 to 5 years. Receivables are continually evaluated for collectability and possible write-offs and an allowance for doubtful accounts is provided where a loss is considered probable. As of June 30, 2019 and December 31, 2018, the allowance amounted to $1,599 and $1,528, respectively.