v3.26.1
Business Segment Information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Financial Information About Business Segments
The following tables highlight certain financial information about each of the business segments for the three months ended March 31, 2026 and 2025:
Investment
Managers		Private
Banks		Investment
Advisors		Institutional
Investors		Investments
In New
Businesses		Total
 For the Three Months Ended March 31, 2026
Total revenue$220,717 $152,262 $169,695 $71,516 $7,993 $622,183 
Less:
Operations & services94,866 54,588 47,453 21,573 2,040 220,520 
Sales, marketing & client service11,465 10,824 18,308 8,455 2,342 51,394 
Technology services & infrastructure13,419 29,594 8,824 1,583 1,292 54,712 
Strategic initiatives & new business development10,479 19,680 18,958 3,611 2,772 55,500 
Other segment expenses (1)
3,610 5,345 2,814 1,915 747 14,431 
Total segment expenses133,839 120,031 96,357 37,137 9,193 396,557 
Non-controlling interest & other, net— — 1,337 — — 1,337 
Segment profit (loss)$86,878 $32,231 $72,001 $34,379 $(1,200)$224,289 
Investment
Managers		Private
Banks		Investment
Advisors		Institutional
Investors		Investments
In New
Businesses		Total
 For the Three Months Ended March 31, 2025
Total revenue$192,048 $137,714 $136,576 $68,506 $16,500 $551,344 
Less:
Operations & services86,239 50,286 41,038 20,673 4,961 203,197 
Sales, marketing & client service9,832 8,910 9,195 9,656 4,927 42,520 
Technology services & infrastructure12,752 28,335 8,866 1,549 1,368 52,870 
Strategic initiatives & new business development6,387 22,379 11,708 2,559 5,698 48,731 
Other segment expenses (1)
2,001 4,839 1,648 1,433 1,542 11,463 
Total segment expenses117,211 114,749 72,455 35,870 18,496 358,781 
Segment profit (loss)$74,837 $22,965 $64,121 $32,636 $(1,996)$192,563 
(1) Other segment expenses for each reportable segment includes professional services, occupancy and certain overhead expenses.
Schedule of Reconciliation of Total Operating Profit Reported for Business Segments to Income from Operations in Consolidated Statements of Operations
A reconciliation of the total segment profit to income from operations on the Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025 is as follows:
Three Months Ended March 31,
20262025
Total segment profit$224,289 $192,563 
Corporate overhead expenses(36,140)(35,466)
Segment reclassification (2)
1,337 — 
Income from operations$189,486 $157,097 
(2) Primarily includes non-controlling interest and earnings from equity method investments.
Schedule of Additional Information Pertaining to Business Segments
The following tables provide additional information for the three months ended March 31, 2026 and 2025 pertaining to the business segments:
 AmortizationDepreciation
 2026202520262025
Investment Managers$1,711 $202 $1,813 $62 
Private Banks5,645 5,275 2,638 2,259 
Investment Advisors8,541 2,419 1,771 2,025 
Institutional Investors1,956 1,875 464 319 
Investments in New Businesses416 875 117 78 
Total from business segments$18,269 $10,646 $6,803 $4,743 
Corporate overhead85 64 453 3,184 
$18,354 $10,710 $7,256 $7,927