Quarterly report [Sections 13 or 15(d)]

Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details)

v3.25.2
Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]            
Net commissions and fees $ 840,857   $ 680,248   $ 1,516,985 $ 1,218,135
Fiduciary investment income 14,313   15,193   28,351 29,352
Total revenue 855,170   695,441   1,545,336 1,247,487
General and administrative 107,049   82,967   213,109 158,834
Change in contingent consideration (759)   1,243   (14,801) 1,178
Interest income (1,500)   (5,400)   (4,600) (13,400)
Income from equity method investments (5,156)   (3,722)   (10,093) (9,328)
Income tax expense 13,026   18,691   68,456 25,117
Other non-operating loss (income) 143   233   (234) 1,985
NET INCOME 124,705 $ (4,389) 118,038 $ 40,677 120,316 158,715
Operating And Reporting Segment            
Segment Reporting Information [Line Items]            
Net commissions and fees 840,857   680,248   1,516,985 1,218,135
Fiduciary investment income 14,313   15,193   28,351 29,352
Total revenue 855,170   695,441   1,545,336 1,247,487
Compensation-related expense 453,414   383,960   850,842 713,982
General and administrative 93,350   63,790   185,587 128,592
Other segment items 45,557   49,266   92,241 103,836
Depreciation and amortization 72,556   32,814   140,180 62,882
Change in contingent consideration (759)   1,243   (14,801) 1,178
Interest income (1,482)   (5,392)   (4,585) (13,387)
Interest expense 59,816   36,520   117,427 73,915
Income from equity method investments (5,156)   (3,722)   (10,093) (9,328)
Income tax expense 13,026   18,691   68,456 25,117
Other non-operating loss (income) $ 143   $ 233   $ (234) $ 1,985