v3.25.2
Goodwill and Other Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of activity in goodwill
A summary of the activity impacting goodwill is presented below (in thousands):
Balance at December 31, 2023$1,856,648 
Purchase accounting adjustments
(16,980)
Goodwill acquired333,205 
Balance at December 31, 20242,172,873 
Purchase accounting adjustments(3,921)
Goodwill acquired44,441 
Balance at June 30, 2025
$2,213,393 
Components of intangible assets
The components of other intangibles, net were as follows at June 30, 2025 (in thousands):
Weighted-Average Life 
Remaining
(in years)		Gross
 Carrying 
Value		 Accumulated AmortizationNet
 Carrying 
Value
Definite-lived intangibles, net(1):
    
Advisor and institution relationships
13.3$1,652,596 $(754,196)$898,400 
Client relationships12.7797,377 (108,477)688,900 
Product sponsor relationships0.9234,086 (226,677)7,409 
Technology6.720,930 (14,325)6,605 
Total definite-lived intangible assets, net $2,704,989 $(1,103,675)$1,601,314 
Other indefinite-lived intangibles:    
Trademark and trade name   39,819 
Total other intangibles, net   $1,641,133 
_______________________________
(1)During the six months ended June 30, 2025, the Company completed various acquisitions. See Note 4 - Acquisitions, for additional information.
The components of other intangibles, net were as follows at December 31, 2024 (in thousands):
Weighted-Average Life 
Remaining
(in years)		Gross
 Carrying 
Value		 Accumulated AmortizationNet
 Carrying 
Value
Definite-lived intangibles, net(1):
    
Advisor and institution relationships
13.4$1,626,281 $(699,385)$926,896 
Client relationships
12.7581,519 (86,292)495,227 
Product sponsor relationships1.3234,086 (220,880)13,206 
Technology7.620,930 (13,090)7,840 
Total definite-lived intangibles, net$2,462,816 $(1,019,647)$1,443,169 
Other indefinite-lived intangibles:
Trademark and trade name39,819 
Total other intangibles, net$1,482,988 
_______________________________
(1)    During the year ended December 31, 2024, the Company completed various acquisitions. See Note 4 - Acquisitions, for additional information.
Amortization expense Future amortization is estimated as follows (in thousands):
2025 - remainder$89,562 
2026142,433 
2027137,284 
2028131,492 
2029122,814 
Thereafter977,729 
Total
$1,601,314