v3.25.2
Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Assets      
Restricted cash $ 116,675 $ 119,724 $ 109,618
Securities owned — trading 124,639 42,267  
Fair Value, Recurring      
Assets      
Restricted cash 111,713 100,368  
Securities owned — trading 124,639 42,267  
Other assets 1,272,201 1,139,515  
Total assets at fair value 2,958,448 2,007,986  
Other liabilities:      
Securities sold, but not yet purchased 210 169  
Total other liabilities 438,458 475,750  
Total liabilities at fair value 438,458 475,750  
Fair Value, Recurring | Level 1      
Assets      
Restricted cash 111,713 100,368  
Securities owned — trading 124,610 42,256  
Other assets 1,269,888 1,135,526  
Total assets at fair value 2,956,106 2,003,986  
Other liabilities:      
Securities sold, but not yet purchased 198 151  
Total other liabilities 313,597 278,834  
Total liabilities at fair value 313,597 278,834  
Fair Value, Recurring | Level 2      
Assets      
Restricted cash 0 0  
Securities owned — trading 29 11  
Other assets 2,313 3,989  
Total assets at fair value 2,342 4,000  
Other liabilities:      
Securities sold, but not yet purchased 12 18  
Total other liabilities 12 18  
Total liabilities at fair value 12 18  
Fair Value, Recurring | Level 3      
Assets      
Restricted cash 0 0  
Securities owned — trading 0 0  
Other assets 0 0  
Total assets at fair value 0 0  
Other liabilities:      
Securities sold, but not yet purchased 0 0  
Total other liabilities 124,849 196,898  
Total liabilities at fair value 124,849 196,898  
Equity securities | Fair Value, Recurring      
Other liabilities:      
Securities sold, but not yet purchased 181 151  
Equity securities | Fair Value, Recurring | Level 1      
Other liabilities:      
Securities sold, but not yet purchased 181 151  
Equity securities | Fair Value, Recurring | Level 2      
Other liabilities:      
Securities sold, but not yet purchased 0 0  
Equity securities | Fair Value, Recurring | Level 3      
Other liabilities:      
Securities sold, but not yet purchased 0 0  
Mutual funds | Fair Value, Recurring      
Other liabilities:      
Securities sold, but not yet purchased 17    
Mutual funds | Fair Value, Recurring | Level 1      
Other liabilities:      
Securities sold, but not yet purchased 17    
Mutual funds | Fair Value, Recurring | Level 2      
Other liabilities:      
Securities sold, but not yet purchased 0    
Mutual funds | Fair Value, Recurring | Level 3      
Other liabilities:      
Securities sold, but not yet purchased 0    
Debt Securities | Fair Value, Recurring      
Other liabilities:      
Securities sold, but not yet purchased 12 18  
Debt Securities | Fair Value, Recurring | Level 1      
Other liabilities:      
Securities sold, but not yet purchased 0 0  
Debt Securities | Fair Value, Recurring | Level 2      
Other liabilities:      
Securities sold, but not yet purchased 12 18  
Debt Securities | Fair Value, Recurring | Level 3      
Other liabilities:      
Securities sold, but not yet purchased 0 0  
Cash equivalents | Fair Value, Recurring      
Assets      
Cash equivalents 802,440 53,672  
Cash equivalents | Fair Value, Recurring | Level 1      
Assets      
Cash equivalents 802,440 53,672  
Cash equivalents | Fair Value, Recurring | Level 2      
Assets      
Cash equivalents 0 0  
Cash equivalents | Fair Value, Recurring | Level 3      
Assets      
Cash equivalents 0 0  
Cash equivalents segregated under federal or other regulations | Fair Value, Recurring      
Assets      
Cash equivalents 647,455    
Cash equivalents segregated under federal or other regulations | Fair Value, Recurring | Federal Or Other Regulations      
Assets      
Cash equivalents   672,164  
Cash equivalents segregated under federal or other regulations | Fair Value, Recurring | Level 1 | Federal Or Other Regulations      
Assets      
Cash equivalents 647,455 672,164  
Cash equivalents segregated under federal or other regulations | Fair Value, Recurring | Level 2 | Federal Or Other Regulations      
Assets      
Cash equivalents 0 0  
Cash equivalents segregated under federal or other regulations | Fair Value, Recurring | Level 3 | Federal Or Other Regulations      
Assets      
Cash equivalents 0 0  
U.S. treasury obligations      
Assets      
Securities owned — trading 109,419 28,511  
U.S. treasury obligations | Fair Value, Recurring      
Assets      
Securities owned — trading 109,419 28,511  
U.S. treasury obligations | Fair Value, Recurring | Level 1      
Assets      
Securities owned — trading 109,419 28,511  
U.S. treasury obligations | Fair Value, Recurring | Level 2      
Assets      
Securities owned — trading 0 0  
U.S. treasury obligations | Fair Value, Recurring | Level 3      
Assets      
Securities owned — trading 0 0  
Mutual funds | Fair Value, Recurring      
Assets      
Securities owned — trading 14,900 13,627  
Mutual funds | Fair Value, Recurring | Level 1      
Assets      
Securities owned — trading 14,900 13,627  
Mutual funds | Fair Value, Recurring | Level 2      
Assets      
Securities owned — trading 0 0  
Mutual funds | Fair Value, Recurring | Level 3      
Assets      
Securities owned — trading 0 0  
Money market funds      
Assets      
Securities owned — trading 123 110  
Money market funds | Fair Value, Recurring      
Assets      
Securities owned — trading 123 110  
Money market funds | Fair Value, Recurring | Level 1      
Assets      
Securities owned — trading 123 110  
Money market funds | Fair Value, Recurring | Level 2      
Assets      
Securities owned — trading 0 0  
Money market funds | Fair Value, Recurring | Level 3      
Assets      
Securities owned — trading 0 0  
Equity securities      
Assets      
Securities owned — trading 168 8  
Equity securities | Fair Value, Recurring      
Assets      
Securities owned — trading 168 8  
Equity securities | Fair Value, Recurring | Level 1      
Assets      
Securities owned — trading 168 8  
Equity securities | Fair Value, Recurring | Level 2      
Assets      
Securities owned — trading 0 0  
Equity securities | Fair Value, Recurring | Level 3      
Assets      
Securities owned — trading 0 0  
Debt securities      
Assets      
Securities owned — trading 29 11  
Debt securities | Fair Value, Recurring      
Assets      
Securities owned — trading 29 11  
Debt securities | Fair Value, Recurring | Level 1      
Assets      
Securities owned — trading 0 0  
Debt securities | Fair Value, Recurring | Level 2      
Assets      
Securities owned — trading 29 11  
Debt securities | Fair Value, Recurring | Level 3      
Assets      
Securities owned — trading 0 0  
Deferred compensation plan | Fair Value, Recurring      
Assets      
Other assets 956,489 856,843  
Deferred compensation plan | Fair Value, Recurring | Level 1      
Assets      
Other assets 956,489 856,843  
Deferred compensation plan | Fair Value, Recurring | Level 2      
Assets      
Other assets 0 0  
Deferred compensation plan | Fair Value, Recurring | Level 3      
Assets      
Other assets 0 0  
Fractional shares — investment | Fair Value, Recurring      
Assets      
Other assets 313,399 278,683  
Other liabilities:      
Obligations 313,399 278,683  
Fractional shares — investment | Fair Value, Recurring | Level 1      
Assets      
Other assets 313,399 278,683  
Other liabilities:      
Obligations 313,399 278,683  
Fractional shares — investment | Fair Value, Recurring | Level 2      
Assets      
Other assets 0 0  
Other liabilities:      
Obligations 0 0  
Fractional shares — investment | Fair Value, Recurring | Level 3      
Assets      
Other assets 0 0  
Other liabilities:      
Obligations 0 0  
Other investments | Fair Value, Recurring      
Assets      
Other assets 2,313 3,989  
Other investments | Fair Value, Recurring | Level 1      
Assets      
Other assets 0 0  
Other investments | Fair Value, Recurring | Level 2      
Assets      
Other assets 2,313 3,989  
Other investments | Fair Value, Recurring | Level 3      
Assets      
Other assets 0 0  
Contingent consideration | Fair Value, Recurring      
Other liabilities:      
Obligations 124,849 196,898  
Contingent consideration | Fair Value, Recurring | Level 1      
Other liabilities:      
Obligations 0 0  
Contingent consideration | Fair Value, Recurring | Level 2      
Other liabilities:      
Obligations 0 0  
Contingent consideration | Fair Value, Recurring | Level 3      
Other liabilities:      
Obligations $ 124,849 $ 196,898