
		Goodwill
Balance, as of December 31, 2025		$2,531.2
Affiliate transactions(1)		(9.7)
Foreign currency translation		(9.9)
Balance, as of June 30, 2026		$2,511.6

(1)Represents goodwill attributable to the myCIO Transaction as of the closing date, including $1.7 million attributable to the

The following table presents the changes in the Company’s components of Acquired client relationships (net):


	Acquired Client Relationships (Net)
	Definite-lived			Indefinite-lived	Total
	Gross Carrying Value	Accumulated Amortization	Net Carrying Value	Carrying Value	Carrying Value
Balance, as of December 31, 2025	$1,267.4	$(1,112.4)	$155.0	$1,484.3	$1,639.3
Affiliate transactions(1)	(5.8)	4.3	(1.5)	—	(1.5)
Intangible amortization and impairments	—	(13.5)	(13.5)	(43.0)	(56.5)
Foreign currency translation	(3.8)	3.8	—	(3.7)	(3.7)
Transfers(2)	2.9	—	2.9	(2.9)	—
Balance, as of June 30, 2026	$1,260.7	$(1,117.8)	$142.9	$1,434.7	$1,577.6

(1)Represents acquired client relationships attributable to the myCIO Transaction as of the closing date, including $0.4 million

(2)In 2026, transfers reflect the reclassification of indefinite-lived relationships to definite-lived relationships.

Definite-lived acquired client relationships at the Company’s consolidated Affiliates are amortized over their expected

period of economic benefit. The Company recorded amortization expense in Intangible amortization and impairments in the

Consolidated Statements of Income for these relationships of $6.3 million and $12.6 million for three and six months ended

June 30, 2025, respectively and $7.2 million and $13.5 million for the three and six months ended June 30, 2026, respectively.

Based on relationships existing as of June 30, 2026, the Company estimates that its consolidated amortization expense will be

approximately $15 million during the remainder of 2026, approximately $25 million in each of 2027 and 2028, approximately

In the first quarter of 2025, the Company completed an impairment assessment of the indefinite-lived acquired client

relationships for certain mutual fund assets and determined that the fair value of the assets had declined below their carrying

values. Accordingly, the Company recorded an expense in Intangible amortization and impairments of $59.2 million

attributable to the controlling interest ($70.0 million in aggregate) to reduce the carrying value of the assets to fair value. The

decline in the fair value was a result of current and projected declines in assets under management that decreased the forecasted

revenue associated with the assets. The most relevant assumptions used in these analyses were revenue growth rates over the

next five years ranging from (21)% to 0%, long-term revenue growth rates of 0%, and discount rates of 11.0%.

In the first quarter of 2025, the Company also recorded an expense in Intangible amortization and impairments of

$4.0 million attributable to the controlling interest ($7.0 million in aggregate) to reduce the carrying value of an indefinite-lived

In the first quarter of 2026, the Company completed an impairment assessment of the indefinite-lived acquired client

relationships for certain mutual fund assets, and determined that the fair value of an asset had declined below its carrying value.

Accordingly, the Company recorded an expense in Intangible amortization and impairments of $30.5 million attributable to the

controlling interest ($43.0 million in aggregate) to reduce the carrying value of the asset to fair value. The decline in the fair

value was primarily the result of current and projected declines in assets under management and the related reduction in

forecasted revenue associated with the asset. The most relevant assumptions used in this analysis related to the projected

In June 2026, myCIO Wealth Partners, LLC (“myCIO”) completed the divestiture of an advisor team (the “myCIO

Transaction”) that managed $5.6 billion in client assets. Pursuant to the terms of the agreement, the Company received cash

consideration of $24.5 million for its controlling interest portion of the divestiture, and may, in the future, receive additional

contingent cash consideration. The Company’s gain from the transaction was $14.6 million, which is recorded in Affiliate