v3.26.1
Segment Reporting - Supplemental Information Related to Significant Segment Expenses (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Personnel Compensation and Benefits Expense [Abstract]        
Salaries, payroll related taxes and employee benefits $ 39,267 $ 41,407 $ 77,942 $ 63,152
Incentive compensation 55,692 38,116 99,382 61,783
Sales-based compensation [1] 10,071 10,612 21,798 17,832
Equity awards granted to employees and directors [2] 15,776 5,658 23,188 9,162
Acquisition and transaction-related compensation 4,694 13,125 9,045 13,125
Total personnel compensation and benefits expense 125,500 108,918 231,355 165,054
Distribution and Other Asset-Based Expenses [Abstract]        
Broker-dealer distribution fees 22,862 20,833 45,120 25,633
Platform distribution fees 34,552 31,444 69,094 53,055
Sub-administration 5,855 5,274 11,527 9,664
Sub-advisory 2,187 1,678 4,196 3,550
Middle-office 3,134 2,810 6,063 5,614
Total distribution and other asset-based expenses $ 68,590 $ 62,039 $ 136,000 $ 97,516
[1] Represents sales-based commissions paid to our distribution teams. Sales-based compensation varies based on gross and net client cash flows and revenue earned on sales.
[2] Equity awards typically vest over several years based on service and the achievement of specific business and financial targets. The value of the equity awards is recognized as compensation expense over the vesting period.