Uniform Net Capital Rule Requirements (Tables)

12 Months Ended

Dec. 31, 2012

Uniform Net Capital Rule Requirements

Schedule of net capital and aggregated indebtedness information for broker/dealer subsidiaries

	2012						2011

	(in thousands)
	W&R		LEC		IFDI		W&R		LEC		IFDI
Net capital	$	24,690		782		19,681		34,524		1,654		45,579
Required capital		250		268		2,648		250		251		2,353

Excess of required capital	$	24,440		514		17,033		34,274		1,403		43,226

Ratio of aggregate indebtedness to net capital		Not applicable		5.14 to 1.0		2.02 to 1.0		Not applicable		2.28 to 1.0		0.77 to 1.0

- Definition

Tabular disclosure of computation of net capital under the SEC Regulations which may include a reconciliation (including appropriate explanations) if material differences exist between the computations made by the independent auditor based on the audited financial statements and the broker-dealer's original unaudited Part II or IIA filing, a statement that a reconciliation is not necessary if no material differences exist between the computations made by the independent auditor based on the audited financial statements and the broker-dealer's unaudited Part II or IIA filing, when different, total assets and total liabilities, as reported in the statement of financial condition, are reconciled to the total current assets and total liabilities, respectively, as reported in the statement of computation of minimum net capital. Disclosure may also include stockholder's equity, stockholders' equity not allowable for net capital, stockholders' equity qualified for net capital, subordinated borrowings allowable in computation of net capital, other deductions or allowable credits and total capital and allowable subordinated borrowings.

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