Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2022

Revenue Recognition and Deferred Revenue [Abstract]

Revenue from Contract with Customer

Revenue from Contracts with Customers For the year ended December 31, 2022, 2021 and 2020, the following tables presents revenues from contracts with customers disaggregated by fee type and segment.

		Year Ended December 31,
		2022		2021		2020
		(dollars in thousands)
Revenue from contracts with customers		Operating Company
Investment banking
Underwriting fees		$	114,201	$	421,081	$	427,670
Strategic/financial advisory fees		248,268		433,909		190,958
Placement and sales agent fees		120,629		195,676		133,171
Expense reimbursements from clients		11,744		16,496		17,687
	Total investment banking revenue	494,842		1,067,162		769,486
Brokerage
Commissions		522,670		530,927		479,762
Trade conversion revenue		30,233		24,098		21,389
Equity research fees		24,111		21,015		19,757
	Total brokerage revenue from customers	577,014		576,040		520,908
Management fees		65,986		71,374		46,556
Incentive income		646		2,732		592
Total revenue from contracts with customers - Op Co		$	1,138,488	$	1,717,308	$	1,337,542
		Asset Company
Management fees		684		913		959
Total revenue from contracts with customers - Asset Co		684		913		959
Total revenue from contracts with customers		$	1,139,172	$	1,718,221	$	1,338,501