Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill and Intangible Assets

The carrying amount of goodwill and intangible assets attributable to each of our reporting segments is presented in the following table (in thousands):

	December 31, 2023		Adjustments		Write-off		March 31, 2024
Goodwill
Global Wealth Management	$	335,009	$	—	$	—	$	335,009
Institutional Group		1,053,234		63		—		1,053,297
	$	1,388,243	$	63	$	—	$	1,388,306

	December 31, 2023		Adjustments			Amortization			March 31, 2024
Intangible assets
Global Wealth Management	$	28,687	$	—		$	(1,126	)	$	27,561
Institutional Group		104,592		(155	)		(4,716	)		99,721
	$	133,279	$	(155	)	$	(5,842	)	$	127,282

Intangible Assets

Intangible assets as of March 31, 2024 and December 31, 2023 were as follows (in thousands):

	March 31, 2024				December 31, 2023
	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Customer relationships	$	227,191	$	126,162	$	227,486	$	122,971
Trade names		30,359		22,736		30,359		22,366
Acquired technology		18,314		4,723		18,314		3,447
Non-compete agreements		10,700		8,759		10,700		8,421
Investment banking backlog		8,913		6,151		8,913		5,758
Core deposits		8,615		8,279		8,615		8,145
	$	304,092	$	176,810	$	304,387	$	171,108

Amortization Expense in Future Periods

As of March 31, 2024, we expect amortization expense in future periods to be as follows (in thousands):

Fiscal year
Remainder of 2024	$	17,195
2025		20,959
2026		16,885
2027		13,188
2028		12,230
Thereafter		44,707
	$	125,164