v3.26.1
Revenue (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue - Reporting Category [Table Text Block]
The following table presents total commission revenue disaggregated by product category (in thousands):
Three Months Ended March 31,
20262025
Commission revenue
Annuities$690,577 $615,594 
Mutual funds266,056 233,895 
Fixed income85,323 61,553 
Equities57,540 49,074 
Other92,538 87,641 
Total commission revenue
$1,192,034 $1,047,757 
Disaggregation of Revenue - Reporting Category & Timing of Transfer of Good or Service [Table Text Block]
The following table presents sales-based and trailing commission revenue disaggregated by product category (in thousands):
Three Months Ended March 31,
20262025
Commission revenue
Sales-based
Annuities
$424,221 $365,767 
Fixed income
85,323 61,553 
Mutual funds
58,011 55,607 
Equities
57,540 49,074 
Other
80,320 78,037 
Total sales-based revenue
$705,415 $610,038 
Trailing
Annuities$266,356 $249,827 
Mutual funds208,045 178,288 
Other12,218 9,604 
Total trailing revenue$486,619 $437,719 
Total commission revenue
$1,192,034 $1,047,757 
Disaggregation of Revenue - Product and Service [Table Text Block]
The following table sets forth asset-based revenue disaggregated by product category (in thousands):
Three Months Ended March 31,
20262025
Asset-based revenue
Client cash
$445,325 $392,031 
Sponsorship programs
223,649 170,538 
Recordkeeping
151,831 132,672 
Total asset-based revenue$820,805 $695,241 
Disaggregation of Revenue - Timing of Transfer of Good or Service [Table Text Block]
The following table sets forth service and fee revenue disaggregated by recognition pattern (in thousands):
Three Months Ended March 31,
20262025
Service and fee revenue
Over time(1)
$158,771 $109,758 
Point-in-time(2)
52,213 35,441 
Total service and fee revenue$210,984 $145,199 
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(1)Service and fee revenue recognized over time includes revenue such as brokerage account maintenance fees, error and omission insurance fees, and IRA custodian fees.
(2)Service and fee revenue recognized at a point-in-time includes revenue such as registration fees, account fees, and IRA termination fees.