0001628280-26-033621 | 10-Q | XBRL Viewer

Print Document

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Operating cash flow information:
Cash outflows - operating leases	$ 2,399	$ 1,879
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	702	680
Related party
Operating cash flow information:
Cash outflows - operating leases	$ 100	$ 100

Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Cash and Cash Equivalents [Abstract]
Restricted cash and cash equivalents	$ 6.0	$ 7.0

Restricted Cash and Cash Equivalents	3 Months Ended
Restricted Cash and Cash Equivalents	Mar. 31, 2026
Cash and Cash Equivalents [Abstract]
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents Restricted cash and cash equivalents consist of balances that are restricted as to withdrawal or usage. As of March 31, 2026 and December 31, 2025, restricted cash and cash equivalents amounted to $6.0 million and $7.0 million, respectively, and are included in the line item Cash and cash equivalents on the Condensed Consolidated Statements of Financial Position as of such dates. These amounts represent collateral held as well as the level of liquidity to be maintained by the Company’s certain subsidiaries to meet regulatory requirements. Failing to meet the requirement could lead to censure, fines, and ultimately a loss of license.

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2026
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation AlTi Global, Inc. (“AlTi” or the “Company”) is a global wealth and investment partner to families, foundations and institutions, helping clients activate capital with clarity, bring structure to complexity, and plan with purpose across borders and generations. AlTi combines the breadth of a global firm with the service offering of a family office to deliver solutions designed to meet the full complexity of wealth and capital. The Company operates as one reportable segment. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with US GAAP for interim financial statements and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the results for the interim periods presented have been included and are of a normal and recurring nature. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and accompanying notes the Annual Report on Form 10-K for the year ended December 31, 2025. Certain prior period presentations and disclosures, while not required to be recast, may be reclassified to ensure comparability with current period classifications. Significant Accounting Policies There have been no material changes to the Company's significant accounting policies as described in Note 2 of the Annual Report on Form 10-K for the year ended December 31, 2025. The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the fair value of investments included in billable AUM/AUA, which directly impacts revenue recognized each period; the fair values of earn-out liabilities and the valuation of the Tax Receivable Agreement liability, both of which directly impact net income (loss); the realizability of deferred tax assets; the assessment of impairment of goodwill and acquired intangible assets; and the valuation of equity-based compensation awards. Actual results could differ materially from those estimates. Recent Accounting Pronouncements - Adopted as of March 31, 2026 In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). ASU 2025-05 provides all entities, when developing reasonable and supportable forecasts as part of estimating expected credit losses, the election of a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for annual periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. The adoption of ASU 2025-05 did not have a material impact on the Company's consolidated financial statements. Recent Accounting Pronouncements - Not Yet Adopted as of March 31, 2026 In April 2026, the FASB issued ASU 2026-01, Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred Stock (“ASU 2026-01”). ASU 2026-01 provides authoritative guidance on how an issuer should initially measure paid-in-kind dividends on equity-classified preferred stock. The amendments require that paid-in-kind dividends be initially measured on the basis of the paid-in-kind dividend rate stated in the preferred stock agreement. ASU 2026-01 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact of ASU 2026-01 on its consolidated financial statements. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”). ASU 2025-11 clarifies and improves existing interim reporting guidance by consolidating disclosure requirements within Topic 270 and introducing a disclosure principle requiring entities to disclose events and changes occurring after the most recent annual reporting period that are expected to have a material effect on the entity’s financial condition or results of operations. The ASU does not introduce significant changes to recognition or measurement guidance. ASU 2025-11 is effective for interim reporting periods beginning after December 31, 2027, with early adoption permitted. The Company does not expect the adoption of ASU 2025-11 to have a material impact on its consolidated financial statements. In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity (“ASU 2025-03”). ASU 2025-03 clarifies the guidance in determining the acquirer in an acquisition transaction effected primarily by exchanging equity interests when the legal acquiree is a VIE that meets the definition of a business. The amendments require that an entity consider the same factors that are currently required for determining which entity is the accounting acquirer in other acquisition transactions. ASU 2025-03 is effective for annual periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company does not expect the adoption of ASU 2025-03 to have a material impact on to its consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) (“ASU 2024-03”). ASU 2024-03 require disclosure, in the notes to financial statements, of specified information about certain costs and expenses at each interim and annual reporting period. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company does not expect the adoption of ASU 2024-03 to have a material impact on its consolidated financial statements.

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025	Dec. 31, 2024
Related Party Transaction [Line Items]
Shareholders’ Equity	$ 676,102		$ 667,298
Operating lease expense	$ 2,389	$ 3,212
Preferred stock, issued (in shares)	150,000
Series A Preferred Stock
Related Party Transaction [Line Items]
Mezzanine Equity	$ 170,993	$ 144,618	$ 168,934	$ 142,858
Preferred stock, issued (in shares)	168,934		168,934
Preferred stock, outstanding (in shares)	168,934	140,000	168,934	140,000
Series C Preferred Stock
Related Party Transaction [Line Items]
Mezzanine Equity	$ 181,216	$ 164,761	$ 176,904	$ 160,808
Preferred stock, issued (in shares)	150,000		150,000
Preferred stock, outstanding (in shares)	150,000	150,000	150,000	150,000
Related party
Related Party Transaction [Line Items]
Operating lease expense	$ 100	$ 100
Related party \| Warrants, net of issuance costs \| Allianz warrant
Related Party Transaction [Line Items]
Shareholders’ Equity	6,591		$ 6,591
Related party \| Warrants, net of issuance costs \| Constellation warrant
Related Party Transaction [Line Items]
Shareholders’ Equity	3,003		3,003
Related party \| Series A Preferred Stock
Related Party Transaction [Line Items]
Mezzanine Equity	170,993		168,934
Related party \| Series C Preferred Stock
Related Party Transaction [Line Items]
Mezzanine Equity	181,216		176,904
Other assets \| Related party
Related Party Transaction [Line Items]
Related Party Receivables	200		200
Other assets \| Equity method investee
Related Party Transaction [Line Items]
Related Party Receivables	30		22
Preferred stock tranche liability \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(1,410)		(2,410)
Operating lease liabilities \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(1,111)		(1,215)
Due from Certain TWMH Members, TIG GP Members and TIG MGMT Members \| Other assets \| Related party
Related Party Transaction [Line Items]
Related Party Receivables	170		223
Due from TIG related fee arrangements \| Fees receivable, net \| Related party \| Fees receivable, net
Related Party Transaction [Line Items]
Related Party Receivables	652		9,535
Due to Certain TWMH Members, TIG GP Members and TIG MGMT Members \| Accrued member distribution payable \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(3,358)		(3,260)
Due to Certain Non-Controlling Interest Holders in Connection with the Tax Receivable Agreements \| TRA liability \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(30,553)		(25,724)
Certain Employees \| Other liabilities \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(816)		(747)
Due to Certain TWMH Members, TIG GP Members, TIG MGMT Members and Alvarium Shareholders in connection with the Business Combination Earn-out \| Earn-out liabilities, at fair value \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(5,075)		(15,268)
East End Advisors, LLC ("EEA") \| Earn-out liabilities, at fair value \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(26,326)		(25,259)
Envoi, LLC (“Envoi”) \| Earn-out liabilities, at fair value \| Related party \| Earn-out consideration liability
Related Party Transaction [Line Items]
Related Party Payables	(7,800)		(8,220)
Envoi, LLC (“Envoi”) \| Earn-out liabilities, at fair value \| Related party \| Earn-out growth consideration liability
Related Party Transaction [Line Items]
Related Party Payables	(1,450)		(1,620)
Kontora Family Office GmbH ("Kontora") \| Earn-out liabilities, at fair value \| Related party
Related Party Transaction [Line Items]
Related Party Payables	$ (7,024)		$ (7,044)
TWMH Members \| Related party \| Promissory Notes
Related Party Transaction [Line Items]
Interest rate (in percent)	3.25%
Forgiveness of debt shareholder loan	$ 53	$ 56

Fair Value Disclosures - Schedule of Valuation Methodologies (Details) $ in Thousands	Mar. 31, 2026 USD ($)	Dec. 31, 2025 USD ($)	Apr. 30, 2025 USD ($)	Jul. 01, 2024 USD ($)	Apr. 01, 2024 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 149,741	$ 144,196
TRA liability	8,584	8,785
Earn-out liabilities, at fair value	47,675	57,411
Preferred stock tranche liability	1,410	2,410
Alvarium, TWMH And TIG
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value	5,100	15,300
East End Advisors, LLC ("EEA")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value	26,300	25,300			$ 23,300
Envoi, LLC (“Envoi”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value				$ 9,000
Envoi, LLC (“Envoi”) \| Earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value	7,800	8,200
Envoi, LLC (“Envoi”) \| Earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value	1,500	1,600
Kontora Family Office GmbH ("Kontora")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value			$ 5,743
Investments – External Strategic Managers
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	148,568	142,976
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability	8,584	8,785
Earn-out liabilities, at fair value	47,675	57,411
Preferred stock tranche liability	1,410	2,410
Level 3 \| Alvarium, TWMH And TIG
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value	5,075	15,268
Level 3 \| East End Advisors, LLC ("EEA")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value	26,326	25,259
Level 3 \| Envoi, LLC (“Envoi”) \| Earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value	7,800	8,220
Level 3 \| Envoi, LLC (“Envoi”) \| Earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value	1,450	1,620
Level 3 \| Kontora Family Office GmbH ("Kontora")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities, at fair value	$ 7,024	$ 7,044
Level 3 \| Discount rate \| Discounted Cash Flow \| Kontora Family Office GmbH ("Kontora")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.110	0.117
Level 3 \| Long-term growth rate \| Discounted Cash Flow \| Envoi, LLC (“Envoi”) \| Earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.115
Level 3 \| Volatility \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.600	0.550
Level 3 \| Volatility \| Monte Carlo \| Alvarium, TWMH And TIG
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.600	0.650
Level 3 \| Volatility \| Binomial lattice model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock tranche liability, measurement input (in percent)	0.525	0.475
Level 3 \| Risk-free rate \| Discounted Cash Flow \| East End Advisors, LLC ("EEA")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.038	0.035
Level 3 \| Risk-free rate \| Discounted Cash Flow \| Envoi, LLC (“Envoi”) \| Earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.037	0.034
Level 3 \| Risk-free rate \| Monte Carlo \| Alvarium, TWMH And TIG
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.038	0.035
Level 3 \| Risk-free rate \| Monte Carlo \| Envoi, LLC (“Envoi”) \| Earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.037	0.034
Level 3 \| Risk-free rate \| Binomial lattice model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock tranche liability, measurement input (in percent)	0.049	0.048
Level 3 \| Credit spread \| Discounted Cash Flow \| East End Advisors, LLC ("EEA")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.104	0.093
Level 3 \| Credit spread \| Discounted Cash Flow \| Envoi, LLC (“Envoi”) \| Earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.101	0.091
Level 3 \| Credit spread \| Binomial lattice model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock tranche liability, measurement input (in percent)	0.104	0.093
Level 3 \| Correlation \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.225	0.225
Level 3 \| EBITDA Discount Rate \| Discounted Cash Flow \| East End Advisors, LLC ("EEA")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.143	0.146
Level 3 \| Revenue risk-adjusted discount rate \| Discounted Cash Flow \| Envoi, LLC (“Envoi”) \| Earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)		0.110
Level 3 \| Metric volatility \| Monte Carlo \| Envoi, LLC (“Envoi”) \| Earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.390	0.290
Level 3 \| Revenue Discount Rate \| Monte Carlo \| Envoi, LLC (“Envoi”) \| Earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.115	0.110
Level 3 \| Credit Risk Adjusted Discount Rate \| Monte Carlo \| Envoi, LLC (“Envoi”) \| Earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.138	0.125
Level 3 \| Probability of option exercise \| Binomial lattice model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock tranche liability, measurement input (in percent)	0.500	0.500
Level 3 \| Minimum \| Cost of debt range \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.116	0.106
Level 3 \| Minimum \| Equity risk premium \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.055	0.058
Level 3 \| Maximum \| Cost of debt range \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.128	0.119
Level 3 \| Maximum \| Equity risk premium \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.132	0.132
Level 3 \| Investments – External Strategic Managers
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 148,568	$ 142,976
Level 3 \| Investments – External Strategic Managers \| Long-term growth rate \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input (in percent)	0.040	0.040
Level 3 \| Investments – External Strategic Managers \| Minimum \| Discount rate \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input (in percent)	0.170	0.170
Level 3 \| Investments – External Strategic Managers \| Maximum \| Discount rate \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, measurement input (in percent)	0.300	0.30

Other assets, net and Other liabilities, net - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Foreign currency translation adjustment	$ 189	$ 184
Accumulated depreciation	(7,449)	(6,852)
Fixed assets, net	17,280	17,690
Accrued income	15,108	18,409
Prepaid expenses	10,370	8,268
Sundry receivables	4,724	4,908
Other receivables	2,779	2,683
Third party receivables related to IRE	0	2,082
Other assets	2,367	2,406
Other assets, net	52,628	56,446
Other assets \| Related party
Property, Plant and Equipment [Line Items]
Receivables due from related parties	200	200
Leasehold improvements
Property, Plant and Equipment [Line Items]
Fixed assets, gross	18,731	18,705
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 5,809	$ 5,653

Earnings Per Share - Schedule of Antidilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Class B Common Stock and Class B Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	46,256,309	0
Allianz and Constellation Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	7,000,000	7,000,000
Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	40,483,820	35,556,939
Earn-Out Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	15,359,014	10,825,746
Acquisition-Related Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	264,380	2,418,340
Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	3,624,166

Goodwill - Schedule of Reconciliation of Goodwill, Net (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 385,966	$ 377,842
Goodwill recognized in connection with acquisitions	0	542
Measurement period adjustments	0	439
Currency translation and other adjustments	(1,380)	7,143
Goodwill, ending balance	$ 384,586	$ 385,966

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-8

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-41

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 740
-Name Accounting Standards Codification
-Section 55
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478064/805-740-55-13

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 39
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-39

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

Discontinued Operations - Narrative (Details) £ in Millions, $ in Millions				3 Months Ended		6 Months Ended	12 Months Ended
	Mar. 19, 2026 USD ($)	Mar. 19, 2026 GBP (£)	Mar. 13, 2025 USD ($)	Mar. 31, 2026 USD ($) segment	Mar. 31, 2026 GBP (£) segment	Jun. 30, 2025 segment	Dec. 31, 2025 USD ($)	Mar. 31, 2026 GBP (£)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of reportable segments \| segment				1	1	2
Settled Litigation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Litigation settlement	$ 15.0	£ 11.2	$ 5.1
Discontinued Operations, Disposed of by Means Other than Sale \| International Real Estate Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivables				$ 17.8
Payables				26.0
Payment against third party accounts payable balance							$ (4.0)
Payment against third party accounts payable balance, on-going services							1.3
Other assets							2.1
Other payables							$ 22.0
Derecognition of payables	4.6	3.4
Derecognition of receivables	2.1	1.5
Gain on disposal				2.5	£ 1.9
Discontinued Operations, Disposed of by Means Other than Sale \| International Real Estate Segment \| Settled Litigation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Litigation settlement	$ 15.0	£ 11.2
Outstanding balance of settlement				$ 14.5				£ 11.0

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The computation of the effective tax rate and provision at each interim period requires the use of certain estimates and significant judgment including, but not limited to, the expected operating income for the year, projections of the proportion of income that is subject to tax, permanent differences between the Company’s GAAP earnings and taxable income, and the likelihood of recovering deferred tax assets existing as of the balance sheet date. The estimates used to compute the provision for income taxes may change throughout the year as new events occur, additional information is obtained or as tax laws and regulations change. Accordingly, the effective tax rate for future interim periods may vary materially. The Company is a domestic corporation for U.S. federal income tax purposes and is subject to U.S. federal and state and local corporate-level income taxes on its share of taxable income from the Umbrella Partnership. The Umbrella Partnership is a partnership for U.S. federal income tax purposes and a taxable entity for certain state and local taxes, such as New York City Unincorporated Business Tax (“UBT”). Further, the Company’s income tax provision and related income tax assets and liabilities are based on, among other things, an estimate of the impact of exchanges of shares of Class B Common Stock and Class B Units for shares of Class A Common Stock, inclusive of an analysis of tax basis and state tax implications of the Umbrella Partnership and its underlying assets and liabilities. The Company’s estimate is based on the most recent information available. The tax basis and state impact of the Umbrella Partnership and its underlying assets and liabilities are based on estimates subject to finalization of the Company’s tax returns. The Company had an effective tax rate of (0.5)% and 35.9% for the three months ended March 31, 2026 and March 31, 2025, respectively. The effective tax rates were calculated using an Annual Effective Tax Rate approach. The book income related to fair value changes to liabilities was excluded from forecasted earnings as these amounts are based on changes in stock price and are unable to be forecasted. The effective tax rates differed from the statutory rate primarily due to the portion of income allocated to noncontrolling interests, state and local taxes, and the impact of a full valuation allowance on many of the Company’s deferred tax assets, including those generated at the Company, in certain of the Company’s U.S. and non-U.S. subsidiaries, and its investment in Umbrella. The Company regularly evaluates the realizability of its deferred tax asset and may recognize or adjust any valuation allowance when it is more-likely-than-not that all or a portion of the deferred tax assets may not be realized. As of March 31, 2026, the Company has recorded a full valuation allowance of $67.3 million against its deferred tax assets, including those generated by its subsidiaries in the U.S. and U.K. and its investment in Umbrella. The key factor for providing a full valuation allowance was our 3-year cumulative operating losses. Once the Company begins generating profits, we will re-evaluate whether a full valuation allowance remains appropriate or if the allowance should be reduced. The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the tax years that remain open under the statute of limitations may be subject to examinations by the appropriate tax authorities. The Company is currently under examination by the New York City UBT for the years ended December 2020 and 2021. We do not believe that there is material exposure in connection with the examination. As of March 31, 2026, the Company has evaluated its tax filing positions and assessed no change to the reserve of $0.2 million unrecognized tax benefits.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Segment Reporting	3 Months Ended
Segment Reporting	Mar. 31, 2026
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Prior to the third quarter ended September 30, 2025, the Company was organized into two reportable segments: Wealth & Capital Solutions and International Real Estate. On July 11, 2025, the Board approved a plan to appoint administrators over the International Real Estate Businesses. See Note 3 (Discontinued Operations) for further information. As such, during the third quarter ended September 30, 2025, the Company disposed of its International Real Estate segment, and is now organized as one reportable segment as of March 31, 2026. Our chief operating decision maker (“CODM”), currently, our Interim Chief Executive Officer, assesses the Company’s performance and allocation of resources based on Net income (loss) from continuing operations, as reported in the Condensed Consolidated Statements of Operations, to assist with the evaluation of strategic business decisions, including potential acquisitions or divestitures and whether to invest in certain products or services, and expense management. Expenses The expense categories that are regularly reviewed by the CODM are presented in the Company's Condensed Consolidated Statements of Operations. Items regularly reviewed consist of non-compensation expenses, such as professional fees, sales, distribution and marketing, travel and entertainment, systems, technology and telephone, occupancy costs and general, administrative, and other.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/280/tableOfContent

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Retirement Plans (Tables)

3 Months Ended

Mar. 31, 2026

Postemployment Benefits [Abstract]

Schedule of Costs of Retirement Plans

The Company’s contributions are summarized in the following table:


(Dollars in Thousands)	For the Three Months Ended
	March 31, 2026		March 31, 2025
Plan Contributions	$	1,066	$	904

Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Equity-based Compensation Award Activity

The following table summarizes the equity-based compensation award activity for the three months ended March 31, 2026, and March 31, 2025:


	March 31, 2026			March 31, 2025
	Number of Awards	Weighted Average Grant Date Fair Value		Number of Awards	Weighted Average Grant Date Fair Value
Restricted common stock
Restricted common stock awards outstanding at beginning of period	11,428,887	$	4.23	6,216,514	$	4.86
Restricted common stock granted	2,820,485	4.05		2,772,576	3.45
Restricted common stock forfeited	(5,149)	3.86		(18,269)	4.76
Restricted common stock vested	(3,087,256)	4.21		(2,032,623)	4.60
Restricted common stock awards outstanding at end of period	11,156,967	$	4.19	6,938,198	$	4.38

Schedule of Equity-Based Compensation Recognized

The following table summarizes the equity-based compensation recognized, which is included in Compensation and employee benefits in the Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and March 31, 2025:


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2026		March 31, 2025
RSUs	$	7,838	$	3,382
PRSUs	600		1,396
Acquisition-related	665		1,517

Revenue share	120		271
Deferred compensation	1,795		870
Accrued compensation	2,619		—
Total	$	13,638	$	7,436

Leases (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Schedule of Lease Expense, Supplemental Cash Flow and Weighted-average Remaining Lease Term

The components of lease costs are as follows:


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2026		March 31, 2025
Operating lease expense	$	2,389	$	3,212
Variable lease expense	501		620
Short-term lease expense	22		45
Total lease expense (1)	$	2,912	$	3,877

(1) These amounts include $0.1 million and $0.1 million for the three months ended March 31, 2026 and March 31, 2025, respectively, in operating lease expense from related parties. See Note 17 (Related Party Transactions) for further details.

Supplemental cash flow information and non-cash activity related to our operating leases are as follows:


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2026		March 31, 2025
Operating cash flow information:
Cash outflows - operating leases (1)	$	2,399	$	1,879
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$	702	$	680

(1) These amounts include $0.1 million and $0.1 million, for the three months ended March 31, 2026 and March 31, 2025, respectively, in cash outflows related to operating leases from related parties. See Note 17 (Related Party Transactions) for further details.

Weighted-average remaining lease term and discount rate for our operating leases are as follows:


	As of March 31, 2026		As of December 31, 2025
Weighted-average remaining lease term	11.26		11.38
Weighted-average discount rate	6.33	%	6.31	%

Schedule of Future Minimum Lease Payments

Future minimum lease payments for the Company’s operating leases as of March 31, 2026, are as follows:


	Future Minimum Rental Operating Leases
(Dollars in Thousands)
2026	$	6,353
2027	9,028
2028	8,484
2029	7,204
2030	6,442
2031 and beyond	49,603
Total lease payments	87,114
Less: Imputed interest	26,333
Present value of lease liabilities	$	60,781

Investments (Tables)

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

The Cost and Fair Value of Investments as of March 31, 2026 and December 31, 2025 are presented below:


	As of March 31, 2026				As of December 31, 2025
(Dollars in Thousands)	Cost		Fair Value		Cost		Fair Value
Investments at Fair Value:
Mutual funds	$	35	$	38	$	38	$	42
Exchange-traded funds and BDC funds	21		37		17		35
TIG Arbitrage Associates Master Fund	482		570		482		566
TIG Arbitrage Enhanced Master Fund	179		368		179		362


Arkkan Opportunities Feeder Fund	111		154		111		152

Arkkan Capital Management Limited	20,062		19,510		20,062		19,543
Zebedee Asset Management	68,913		99,912		68,913		93,716
Romspen Investment Corporation	72,523		29,146		72,523		29,717

Other	6		6		55		63

Total Investments at fair value	$	162,332	$	149,741	$	162,380	$	144,196


Equity method investments:	Cost		Carrying Value		Cost		Carrying Value

Wealth management - investment advisory	$	140	$	140	$	138	$	138

Total Equity method investments	140		140		138		138

Total	$	162,472	$	149,881	$	162,518	$	144,334

The breakdown of realized and unrealized gains (losses) on Investments at fair value for the relevant periods, which are recorded in Gain (loss) on investments in the Condensed Consolidated Statements of Operations, are as follows:


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2026		March 31, 2025
Gains (Losses) on Investments at fair value:
Realized gains (losses)	$	2	$	—
Unrealized gains (losses)	5,607		(4,334)
Total gains (losses) on Investments at fair value	$	5,609	$	(4,334)

Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured At Fair Value

The Company’s financial instruments measured at fair value in the Condensed Consolidated Statements of Financial Position as of March 31, 2026, and December 31, 2025, have been categorized based on the fair value hierarchy as follows:


	As of March 31, 2026
	Level 1		Level 2		Level 3
(Dollars in Thousands)	Quoted Prices		Observable Inputs		Unobservable Inputs		Total
Assets:
Mutual funds	$	38	$	—	$	—	$	38
Exchange-traded funds and BDC funds	37		—		—		37
Investments – External Strategic Managers	—		—		148,568		148,568
Investments – Affiliated Funds (1)	—		—		—		1,092

Other	6		—		—		6
Total	$	81	$	—	$	148,568	$	149,741

Liabilities:

Preferred stock tranche liability	$	—	$	—	$	1,410	$	1,410
Earn-out liabilities	—		—		47,675		47,675


TRA liability (2)	—		—		8,584		8,584
Derivative liability	$	—	$	—	$	57,669	$	57,669


	As of December 31, 2025
	Level 1		Level 2		Level 3
(Dollars in Thousands)	Quoted Prices		Observable Inputs		Unobservable Inputs		Total
Assets:
Mutual funds	$	42	$	—	$	—	$	42
Exchange-traded funds and BDC funds	35		—		—		35
Investments – External Strategic Managers	—		—		142,976		142,976
Investments – Affiliated Funds (1)	—		—		—		1,080
Other	6		57		—		63
Total	$	83	$	57	$	142,976	$	144,196

Liabilities:

Preferred stock tranche liability	$	—	$	—	$	2,410	$	2,410
Earn-out liabilities	—		—		57,411		57,411
TRA liability (2)	—		—		8,785		8,785


Total	$	—	$	—	$	68,606	$	68,606

(1) Investments in Affiliated Funds are measured at fair value using the NAV (or its equivalent) practical expedient. The Company’s investments in Affiliated Funds represent interests that do not trade in an active market and are valued using the NAV of each investment company as reported and without adjustment. The Company does not have any commitments to the Affiliated Funds and redemptions are permitted on a monthly basis and require 30 days’ notice. The strategies of the Affiliated Funds primarily focus on near-dated, hard catalyst events that typically involve hostile deals, proposals, minority interest buy-ins, leverage buyouts, activism, spin-offs, recapitalizations, and agreed upon deals. The investments held in the Affiliated Funds are primarily highly liquid and marketable securities. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Condensed Consolidated Statements of Financial Position.

(2) The Company carries a portion of its TRA liability at fair value equal to the expected future payments under the TRA.

Schedule of Changes In Fair Value of Liability Level 3 Measurements

The following table sets forth a summary of changes in the fair value of Level 3 financial instruments during the three months ended March 31, 2026 and December 31, 2025:


	As of March 31, 2026
(Dollars in Thousands)	Beginning balance		Issuances	Settlements	Net (gains) losses (1)	Other comprehensive loss	Ending balance
Assets:
Investments – External Strategic Managers	$	142,976	—	—	5,592	—	$	148,568



Liabilities:
Preferred stock tranche liability	$	2,410	—	—	(1,000)	—	$	1,410
Business combination earn-out liability	$	15,268	—	—	(10,193)	—	$	5,075
EEA earn-out liability	$	25,259	—	—	1,067	—	$	26,326
Envoi earn-out consideration liability	$	8,220	—	—	(420)	—	$	7,800
Envoi earn-out growth consideration liability	$	1,620	—	—	(170)	—	$	1,450
Kontora earn-out liability	$	7,044	—	—	135	(155)	$	7,024
TRA liability	$	8,785	—	—	(201)	—	$	8,584


	As of December 31, 2025
(Dollars in Thousands)	Beginning balance		Issuances	Settlements	Net (gains) losses (1)	Other comprehensive income	Ending balance
Assets:
Investments – External Strategic Managers	$	147,568	—	—	(4,592)	—	$	142,976




Liabilities:
Preferred stock tranche liability	$	3,940	—	—	(1,530)	—	$	2,410
Business combination earn-out liability	$	23,848	—	—	(8,580)	—	$	15,268
EEA earn-out liability	$	29,871	—	(7,387)	2,775	—	$	25,259
Envoi earn-out consideration liability	$	9,600	—	(2,953)	1,573	—	$	8,220
Envoi earn-out growth consideration liability	$	1,320	—	—	300	—	$	1,620
Kontora earn-out liability	$	—	5,743	—	1,059	242	$	7,044
TRA liability	$	9,378	—	—	(593)	—	$	8,785

(1) Realized and unrealized gains/(losses) on Investments - External Strategic Managers, Preferred stock tranche liability, earn-out liabilities and TRA liability are recorded in Gain (loss) on investments, Gain (loss) on preferred stock tranche liability, Gain (loss) on earnout liabilities, and Gain (loss) on TRA, respectively, in the Condensed Consolidated Statements of Operations.

Schedule of Valuation Methodologies

Valuation Methodologies for Fair Value Measurements Categorized within Level 3 as of March 31, 2026


(Dollars in Thousands)	Fair Value		Valuation Techniques	Unobservable Inputs	Ranges		Impact to Valuation from an Increase in Input
Level 3 Assets:
Investments – External Strategic Managers	$	148,568	Discounted Cash Flow	Discount rate	17.0% -30.0%		Lower
				Long-term growth rate	4.0	%	Higher



Level 3 Liabilities:
TRA liability	$	8,584	Monte Carlo	Volatility	60.0	%	Lower
				Correlation	22.5	%	Higher
				Cost of debt range	11.6% - 12.8%		Lower
				Equity risk premium	5.5% - 13.2%		Lower
Business Combination earn-out liability	$	5,075	Monte Carlo	Volatility	60.0	%	Higher
				Risk-free rate	3.8	%	Higher




EEA earn-out liability	$	26,326	Discounted Cash Flow	EBITDA Discount Rate	14.3	%	Lower
				Risk-free rate	3.8	%	Lower
				Credit spread	10.4	%	Lower
Envoi earn-out consideration liability	$	7,800	Discounted Cash Flow	Revenue risk-adjusted discount rate	11.5	%	Lower

				Risk-free rate	3.7	%	Lower
				Credit spread	10.1	%	Lower
Envoi earn-out growth consideration liability	$	1,450	Monte Carlo	Metric volatility	39.0	%	Lower
				Risk-free rate	3.7	%	Lower
				Revenue discount rate	11.5	%	Lower
				Credit Risk Adjusted Discount Rate	13.8	%	Lower
Kontora earn-out liability	$	7,024	Discounted Cash Flow	Discount rate	11.0	%	Lower



Preferred stock tranche liability	$	1,410	Binomial lattice model	Volatility	52.5	%	Lower
				Probability of option exercise	50.0	%	Higher
				Risk-free rate	4.9	%	Lower
				Credit spread	10.4	%	Lower

Valuation Methodologies for Fair Value Measurements Categorized within Level 3 as of December 31, 2025


(Dollars in Thousands)	Fair Value		Valuation Techniques	Unobservable Inputs	Ranges		Impact to Valuation from an Increase in Input
Level 3 Assets:
Investments – External Strategic Managers	$	142,976	Discounted Cash Flow	Discount rate	17.0% -30%		Lower
				Long-term growth rate	4.0	%	Higher



Level 3 Liabilities:
TRA liability	$	8,785	Monte Carlo	Volatility	55.0	%	Lower
				Correlation	22.5	%	Higher
				Cost of debt range	10.6% - 11.9%		Lower
				Equity risk premium	5.8% - 13.2%		Lower
Business Combination earn-out liability	$	15,268	Monte Carlo	Volatility	65.0	%	Higher
				Risk-free rate	3.5	%	Higher




EEA earn-out liability	$	25,259	Discounted Cash Flow	EBITDA Discount Rate	14.6	%	Lower
				Risk-free rate	3.5	%	Lower
				Credit spread	9.3	%	Lower
Envoi earn-out consideration liability	$	8,220	Discounted Cash Flow	Revenue risk-adjusted discount rate	11.0	%	Lower
				Risk-free rate	3.4	%	Lower
				Credit spread	9.1	%	Lower
Envoi earn-out growth consideration liability	$	1,620	Monte Carlo	Metric volatility	29.0	%	Lower
				Risk-free rate	3.4	%	Lower
				Revenue discount rate	11.0	%	Lower
				Credit Risk Adjusted Discount Rate	12.5	%	Lower
Kontora earn-out liability	$	7,044	Discounted Cash Flow	Discount rate	11.7	%	Lower

Preferred stock tranche liability	$	2,410	Binomial lattice model	Volatility	47.5	%	Lower
				Probability of option exercise	50.0	%	Higher
				Risk-free rate	4.8	%	Lower
				Credit spread	9.3	%	Lower

Debt, net of unamortized deferred financing cost - Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Net Carrying Value	$ 15,049	$ 883
Line of Credit
Debt Instrument [Line Items]
Debt Outstanding	14,920	883
Net Carrying Value	15,049	883
Fair Value	15,049	883
Term Loan \| Line of Credit
Debt Instrument [Line Items]
Debt Outstanding	14,920
Term Loan \| Administrators Term Loan \| Line of Credit
Debt Instrument [Line Items]
Debt Outstanding	14,510	0
Net Carrying Value	14,639	0
Fair Value	14,639	0
Term Loan \| Kontora Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt Outstanding	410	503
Net Carrying Value	410	503
Fair Value	410	503
Revolving Line of Credit \| Kontora Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt Outstanding	0	380
Net Carrying Value	0	380
Fair Value	$ 0	$ 380

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482949/835-30-55-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1

+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482949/835-30-55-8

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(16)(a)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-4

+ Details

- Definition

The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-12

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Discontinued Operations

3 Months Ended

Mar. 31, 2026

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

On July 11, 2025, the Company placed its International Real Estate Businesses under administration in accordance with the insolvency laws of England and Wales and the Administrators took control of each of them. The Company determined that it was appropriate to deconsolidate its International Real Estate Businesses resulting from the disposition of the Company’s controlling interest. The Company concluded that the transaction meets the criteria for discontinued operations as the disposal of the International Real Estate Businesses is a strategic shift that will have a significant effect on our operations and financial results.

As such, the assets and liabilities, results of operations and cash flows of the International Real Estate Businesses have been classified as discontinued operations for all periods presented in accordance with ASC

205-20, Discontinued Operations. As a result, the Company only has one reportable segment remaining. See Note 18 (Segment Reporting).

Upon deconsolidation, intercompany balances between the Company and the International Real Estate Businesses were recognized as third-party balances, which include receivables of $17.8 million, which were recorded in Other assets, and payables of $26.0 million, which were recorded in Accounts payable and accrued expenses, in the Condensed Consolidated Statements of Financial Position as part of continuing operations. Additionally, certain on-going services such as payroll, information technology, and other administrative support, in which the Company acts as a service provider will continue to be provided to the International Real Estate Businesses through the end of December 31, 2027 or earlier based on agreement with the Administrators. As part of the arrangement with the Administrators, these on-going services are recognized as payments against the third party Accounts payable balance. A total of $4.0 million, which includes on-going services of $1.3 million, were paid against the third party Accounts payable balance through December 31, 2025. As of December 31, 2025, the balance of the Other assets and Other payables amounted to $2.1 million and $22.0 million, respectively.

In connection with the administration of the International Real Estate Businesses, the Company and the Administrators have negotiated a settlement of outstanding intercompany balances between certain of our affiliates and the International Real Estate Businesses. On March 19, 2026, the Company and certain of its affiliates on the one hand and the International Real Estate Businesses and the Administrators on the other hand entered into a binding settlement and intercompany loan deed memorializing the terms of the settlement and concluding this matter. The settlement amount of £11.2 million ($15.0 million) will be paid in installments through November 2027. On March 19, 2026, the Company also entered into a transitional services agreement, pursuant to which it will provide certain administrative support services to the International Real Estate Businesses through December 31, 2027. The reimbursement for these services was part of the negotiated adjustments to the settlement amount. Upon the execution of the intercompany loan deed, the Company derecognized £3.4 million ($4.6 million) of payables and £1.5 million ($2.1 million) of receivables from the International Real Estate Businesses, resulting in a £1.9 million ($2.5 million) gain recognized within Other income (expense) in the Condensed Consolidated Statements of Operations. As of March 31, 2026, the outstanding balance of the settlement was £11.0 million ($14.5 million), which was recorded in Debt, net of unamortized deferred financing cost in the Condensed Consolidated Statements of Financial Position.

The following table provides a summary of net loss from discontinued operations, net of taxes:


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2025
Revenue
Management/advisory fees	$	875


Other income/fees	1
Total revenue	876
Operating Expenses
Compensation and employee benefits	1,854
Systems, technology and telephone	227
Sales, distribution and marketing	79
Occupancy costs	234
Professional fees	1,833
Travel and entertainment	62

General, administrative and other	1,665
Total operating expenses	5,954
Total operating loss	(5,078)
Other Income (Expenses)

Loss on investments	(1,840)






Interest income	10

Loss before taxes	(6,908)
Income tax expense	(11)
Net loss from discontinued operations, net of income tax	$	(6,919)

Cash flows related to the disposal of the International Real Estate Businesses are included in the discontinued operations section of the Condensed Consolidated Statements of Cash Flows for all periods presented.

Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2026

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following table provides a summary of net loss from discontinued operations, net of taxes:


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2025
Revenue
Management/advisory fees	$	875


Other income/fees	1
Total revenue	876
Operating Expenses
Compensation and employee benefits	1,854
Systems, technology and telephone	227
Sales, distribution and marketing	79
Occupancy costs	234
Professional fees	1,833
Travel and entertainment	62

General, administrative and other	1,665
Total operating expenses	5,954
Total operating loss	(5,078)
Other Income (Expenses)

Loss on investments	(1,840)






Interest income	10

Loss before taxes	(6,908)
Income tax expense	(11)
Net loss from discontinued operations, net of income tax	$	(6,919)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-11

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 205
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-1

Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3

+ Details

Goodwill (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Reconciliation of Goodwill

The following table provides a reconciliation of Goodwill reported on the Condensed Consolidated Statements of Financial Position as of March 31, 2026 and December 31, 2025, respectively.


(Dollars in Thousands)	As of March 31, 2026		As of December 31, 2025

Beginning Balance	$	385,966	$	377,842




Goodwill recognized in connection with acquisitions	—		542


Measurement period adjustments	—		439
Currency translation and other adjustments	(1,380)		7,143

Ending Balance	$	384,586	$	385,966

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Basis of Presentation and Summary of Significant Accounting Policies (Details) - segment	3 Months Ended	6 Months Ended
	Mar. 31, 2026	Jun. 30, 2025
Accounting Policies [Abstract]
Number of reportable segments	1	2
Number of operating segments	1	2

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2026
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Management evaluated events and transactions through the date of issuance of these financial statements. Based on management’s evaluation there are no events subsequent to March 31, 2026 that require adjustment to or disclosure in the condensed consolidated financial statements, except as noted below.

Commitments and Contingencies (Details) $ / shares in Units, $ in Thousands, £ in Millions									3 Months Ended		18 Months Ended
	Mar. 19, 2026 USD ($)	Mar. 19, 2026 GBP (£)	Apr. 30, 2025 USD ($)	Mar. 13, 2025 USD ($)	Dec. 19, 2024 USD ($)	Jul. 01, 2024 USD ($)	May 09, 2024 USD ($)	Apr. 01, 2024 USD ($)	Mar. 31, 2026 USD ($) $ / shares shares	Mar. 31, 2025 USD ($) shares	Dec. 31, 2023	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	May 08, 2024	Apr. 12, 2024
Other Commitments [Line Items]
TRA liability									$ 30,553			$ 25,724
TRA liability									$ 8,584			8,785
Conversion ratio									1
Earn-out liabilities, at fair value									$ 47,675			57,411
Outstanding letters of credit									2,600			3,400
Percentage of losses sought															100.00%
Percentage decline in real estate investment portfolio											50.00%
Provision for redress liability									$ 3,600
Settled Litigation
Other Commitments [Line Items]
Litigation settlement	$ 15,000	£ 11.2		$ 5,100
Certain Former Tolleson Employees
Other Commitments [Line Items]
Employment agreement, term of client and employee non-solicit and lost client fee clause (in years)									1 year
Letter of Credit
Other Commitments [Line Items]
Collateral amount as percentage of the amount of each instrument issued					102.00%
Threshold of aggregate outstanding face amount of all issued instruments					$ 5,000
Expiration date, from termination date (in years)					1 year
Commitment fee (in percent)					0.30%
Alvarium, TWMH And TIG
Other Commitments [Line Items]
Earn-out liabilities, at fair value									$ 5,100			15,300
Alvarium, TWMH And TIG \| Earn-out liability
Other Commitments [Line Items]
Fair value of the business combination earn-out liability									5,075			15,268	$ 23,848
East End Advisors, LLC ("EEA")
Other Commitments [Line Items]
Earn-out liabilities, at fair value								$ 23,300	26,300			25,300
Total purchase consideration transferred								$ 93,100
East End Advisors, LLC ("EEA") \| Earn-out liability
Other Commitments [Line Items]
Fair value of the business combination earn-out liability									26,326			25,259	29,871
Pointwise Partners Limited ("PW")
Other Commitments [Line Items]
Total purchase consideration transferred							$ 8,000
Voting interest acquired (in percent)							50.00%
Equity interest (in percent)														50.00%
Equity interest, including subsequent acquisition (in percent)							100.00%
Payment of assumed liabilities							$ 3,300
Deferred cash consideration paid										$ 3,400
Envoi, LLC (“Envoi”)
Other Commitments [Line Items]
Earn-out liabilities, at fair value						$ 9,000
Total purchase consideration transferred						$ 34,300
Envoi, LLC (“Envoi”) \| Earn-out consideration liability
Other Commitments [Line Items]
Earn-out liabilities, at fair value									7,800			8,200
Envoi, LLC (“Envoi”) \| Earn-out growth consideration liability
Other Commitments [Line Items]
Earn-out liabilities, at fair value									1,500			1,600
Kontora Family Office GmbH ("Kontora")
Other Commitments [Line Items]
Earn-out liabilities, at fair value			$ 5,743
Total purchase consideration transferred			$ 15,696
Kontora Family Office GmbH ("Kontora") \| Earn-out liability
Other Commitments [Line Items]
Fair value of the business combination earn-out liability									$ 7,024			$ 7,044	$ 0
Class A Common Stock
Other Commitments [Line Items]
Conversion ratio									1
Converted shares (in shares) \| shares									14,159,194
Share price (in dollars per share) \| $ / shares									$ 5.21
Class A Common Stock \| Sponsor and selling shareholders of TWMH, TIG, and Alvarium \| Alvarium, TWMH And TIG \| Earnout shares
Other Commitments [Line Items]
Number of earn-out securities (in shares) \| shares									3,300,000
Class A Common Stock \| Sponsor and selling shareholders of TWMH, TIG, and Alvarium \| Alvarium, TWMH And TIG \| Earnout shares, tranche one
Other Commitments [Line Items]
Volume weighted average price (in dollars per share) \| $ / shares									$ 12.50
Volume weighted average price, number of trading days									20 days
Volume weighted average price, number of consecutive trading days									30 days
Volume weighted average price, term within closing of transaction (in years)									5 years
Earnout securities to be issued, issued (in percent)									50.00%
Class A Common Stock \| Sponsor and selling shareholders of TWMH, TIG, and Alvarium \| Alvarium, TWMH And TIG \| Earnout shares, tranche two
Other Commitments [Line Items]
Volume weighted average price (in dollars per share) \| $ / shares									$ 15.00
Volume weighted average price, number of trading days									20 days
Volume weighted average price, number of consecutive trading days									30 days
Volume weighted average price, term within closing of transaction (in years)									5 years
Earnout securities to be issued, issued (in percent)									50.00%
Class B Common Stock
Other Commitments [Line Items]
Converted shares (in shares) \| shares									3,314,794	1,028,652
Class B Common Stock \| Sponsor and selling shareholders of TWMH, TIG, and Alvarium \| Alvarium, TWMH And TIG \| Earnout shares
Other Commitments [Line Items]
Number of earn-out securities (in shares) \| shares									7,100,000
Class B units \| Sponsor and selling shareholders of TWMH, TIG, and Alvarium \| Alvarium, TWMH And TIG \| Earnout shares
Other Commitments [Line Items]
Number of earn-out securities (in shares) \| shares									7,100,000

Fair Value Disclosures - Schedule of Changes In Fair Value of Level 3 Measurements (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Preferred stock tranche liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 2,410	$ 3,940
Issuances	0	0
Settlements	0	0
Net (gains) losses	(1,000)	(1,530)
Other comprehensive income (loss)	0	0
Ending balance	1,410	2,410
Earn-out liability \| Alvarium, TWMH And TIG
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	15,268	23,848
Issuances	0	0
Settlements	0	0
Net (gains) losses	(10,193)	(8,580)
Other comprehensive income (loss)	0	0
Ending balance	5,075	15,268
Earn-out liability \| East End Advisors, LLC ("EEA")
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	25,259	29,871
Issuances	0	0
Settlements	0	(7,387)
Net (gains) losses	1,067	2,775
Other comprehensive income (loss)	0	0
Ending balance	26,326	25,259
Earn-out liability \| Kontora Family Office GmbH ("Kontora")
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	7,044	0
Issuances	0	5,743
Settlements	0	0
Net (gains) losses	135	1,059
Other comprehensive income (loss)	(155)	242
Ending balance	7,024	7,044
Earn-out consideration liability \| Envoi, LLC (“Envoi”)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	8,220	9,600
Issuances	0	0
Settlements	0	(2,953)
Net (gains) losses	(420)	1,573
Other comprehensive income (loss)	0	0
Ending balance	7,800	8,220
Earn-out growth consideration liability \| Envoi, LLC (“Envoi”)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,620	1,320
Issuances	0	0
Settlements	0	0
Net (gains) losses	(170)	300
Other comprehensive income (loss)	0	0
Ending balance	1,450	1,620
TRA liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	8,785	9,378
Issuances	0	0
Settlements	0	0
Net (gains) losses	(201)	(593)
Other comprehensive income (loss)	0	0
Ending balance	8,584	8,785
Investments – External Strategic Managers
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	142,976	147,568
Issuances	0	0
Settlements	0	0
Net (gains) losses	5,592	(4,592)
Other comprehensive income (loss)	0	0
Ending balance	$ 148,568	$ 142,976

Investments - Schedule of Unrealized Gains (Losses) and Realized Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]
Realized gains (losses)	$ 2	$ 0
Unrealized gains (losses)	5,607	(4,334)
Total gains (losses) on Investments at fair value	$ 5,609	$ (4,334)

Related Party Transactions

3 Months Ended

Mar. 31, 2026

Related Party Transactions

Related party transactions include the below:


(Dollars in Thousands)
Related Party Receivables	Condensed Consolidated Balance Sheet Line Item	As of March 31, 2026		As of December 31, 2025
Due from Certain TWMH Members, TIG GP Members and TIG MGMT Members (1)	Other assets	$	170	$	223
Due from Equity Method Investees (2)	Other assets	$	30	$	22


Due from TIG related fee arrangements	Fees receivable, net	$	652	$	9,535




Related Party Payables
Due to Certain TWMH Members, TIG GP Members and TIG MGMT Members (3)	Accrued member distribution payable	$	(3,358)	$	(3,260)
Due to Certain Non-Controlling Interest Holders in Connection with the Tax Receivable Agreements (4) (5)	TRA liability	$	(30,553)	$	(25,724)



Due to certain employees (6)	Other liabilities	$	(816)	$	(747)
Due to Certain TWMH Members, TIG GP Members, TIG MGMT Members and Alvarium Shareholders in connection with the Business Combination Earn-out (4) (5)	Earn-out liabilities, at fair value	$	(5,075)	$	(15,268)



EEA earn-out liability (4) (5)	Earn-out liabilities, at fair value	$	(26,326)	$	(25,259)
Envoi earn-out consideration liability (4) (5)	Earn-out liabilities, at fair value	$	(7,800)	$	(8,220)
Envoi earn-out growth consideration liability (4) (5)	Earn-out liabilities, at fair value	$	(1,450)	$	(1,620)
Kontora earn-out liability (4) (5)	Earn-out liabilities, at fair value	$	(7,024)	$	(7,044)
Preferred stock tranche liability (5)	Preferred stock tranche liability	$	(1,410)	$	(2,410)
Office lease liability (7)	Operating lease liabilities	$	(1,111)	$	(1,215)

Mezzanine Equity
Series A Preferred Stock (8)	Series A Redeemable Cumulative Convertible Preferred Stock	$	170,993	$	168,934
Series C Preferred Stock (8)	Series C Redeemable Cumulative Convertible Preferred Stock	$	181,216	$	176,904

Shareholders’ Equity

Allianz Warrants, net of issuance costs (8)	Additional paid-in capital	$	6,591	$	6,591
Constellation Warrants, net of issuance costs (8)	Additional paid-in capital	$	3,003	$	3,003

(1) Certain TWMH Members hold promissory notes bearing interest at 3.25% per annum, subject to annual forgiveness provisions contingent on continued employment. For the three months ended March 31, 2026 and March 31, 2025, the Company recognized $53 thousand and $56 thousand, respectively, of forgiveness of principal debt and accrued interest within Compensation and employee benefits expense on the Condensed Consolidated Statements of Operations.

(2) Represents receivables related to loans, fees, and expenses due from equity method investees. See Note 9 (Equity Method Investments) for further detail on the nature of these relationships.

(3) Represents accrued member distributions payable to certain TWMH Members, TIG GP Members, and TIG MGMT Members issued in connection with the Business Combination.

(4) See Note 20 Commitments and Contingencies for a description of the nature and terms of the TRA and each earn-out arrangement.

(5) See Note 8 Fair Value Disclosures for current period activity, ending balances, and valuation methodologies.

(6) Represents a Vendor Loan Note issued in connection with a share buyback transaction by a senior executive of the Company. The Company expects the loan to be settled in mid-2026.

(7) See Note 13 Leases for further detail on the Company’s related party lease arrangement. The Company leases office space in Singapore from a related party. For the three months ended March 31, 2026 and March 31, 2025, the Company recorded lease expense related to this lease of $0.1 million and $0.1 million, respectively.

(8) The Company has issued Series A Preferred Stock to Allianz and Series C Preferred Stock to Constellation, each classified as mezzanine equity. As of March 31, 2026, the Series A and Series C Preferred Stock outstanding were 168,934 and 150,000 shares, respectively. See Note 21 Equity for further detail on warrant classification.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Other assets, net and Other liabilities, net (Tables)

3 Months Ended

Mar. 31, 2026

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

The following table provides a breakdown of Other assets, net reported on the Condensed Consolidated Statements of Financial Position.


(Dollars in Thousands)	As of March 31, 2026		As of December 31, 2025
Fixed assets, net:
Leasehold improvements	$	18,731	$	18,705
Office equipment and furniture	5,809		5,653
Foreign currency translation adjustment	189		184
Accumulated depreciation	(7,449)		(6,852)
Fixed assets, net	17,280		17,690

Accrued income	15,108		18,409
Prepaid expenses	10,370		8,268
Sundry receivables	4,724		4,908
Other receivables	2,779		2,683
Third party receivables related to IRE	—		2,082
Other assets	2,367		2,406
Other assets, net (1)	$	52,628	$	56,446

(1) As of March 31, 2026 and December 31, 2025, these amounts include $0.2 million and $0.2 million, respectively, in receivables due from related parties. See Note 17 (Related Party Transactions) for further details.

Schedule of Other Liabilities

The following table provides a breakdown of Other liabilities, net reported on the Condensed Consolidated Statements of Financial Position.


(Dollars in Thousands)	As of March 31, 2026		As of December 31, 2025


Payroll taxes	1,162		1,754
Payroll	1,522		869
Corporation tax payable	2,347		2,532

Accrued legal	4,332		4,496
Other (1)	3,014		5,025


Other Liabilities, net (2)	$	12,377	$	14,676

(1) The other category is comprised primarily of miscellaneous payables and provisions.

(2) As of March 31, 2026 and December 31, 2025, these amounts include $0.8 million and $0.7 million, respectively, in liabilities due to related parties.

Equity Method Investments (Details) - USD ($)	3 Months Ended
Equity Method Investments (Details) - USD ($)	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]
Equity method investments	$ 140,000		$ 138,000
Impairment on its equity method investments	$ 0	$ 1,700,000
Asset impairment charge		$ 200,000

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

Business Combinations - Narrative (Details) - USD ($)		3 Months Ended	12 Months Ended
Business Combinations - Narrative (Details) - USD ($)	Apr. 30, 2025	Mar. 31, 2026	Dec. 31, 2025
Business Combination [Line Items]
Earn-out liabilities, at fair value		$ 47,675,000	$ 57,411,000
Measurement period adjustments		$ 0	439,000
Kontora Family Office GmbH ("Kontora")
Business Combination [Line Items]
Total purchase consideration transferred	$ 15,696,000
Earn-out liabilities, at fair value	$ 5,743,000
Adjustments to intangibles			(700,000)
Measurement period adjustments			400,000
Deferred tax liability adjustments			(300,000)
Other assets, net adjustments			24,000.0
Purchase consideration adjustment			$ (10,000.0)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-4

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-8

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-47

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-3

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-4A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-4

Reference 22: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-4A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-4A

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 37: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

Investments

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

Investments

The Company’s investments include Investments at fair value and Equity method investments.

Investments at fair value consist of investments for which the fair value option has been elected. The primary reasons for electing the fair value option are to:

•reflect economic events in earnings on a timely basis;

•mitigate volatility in earnings from using different measurement attributes; and

•address simplification and cost-benefit considerations

Such election is irrevocable and is applied on an investment-by-investment basis at initial recognition or at other eligible election dates. Changes in the fair value of such instruments are recognized in Gain (loss) on investments in the Condensed Consolidated Statements of Operations.

The Cost and Fair Value of Investments as of March 31, 2026 and December 31, 2025 are presented below:


	As of March 31, 2026				As of December 31, 2025
(Dollars in Thousands)	Cost		Fair Value		Cost		Fair Value
Investments at Fair Value:
Mutual funds	$	35	$	38	$	38	$	42
Exchange-traded funds and BDC funds	21		37		17		35
TIG Arbitrage Associates Master Fund	482		570		482		566
TIG Arbitrage Enhanced Master Fund	179		368		179		362


Arkkan Opportunities Feeder Fund	111		154		111		152

Arkkan Capital Management Limited	20,062		19,510		20,062		19,543
Zebedee Asset Management	68,913		99,912		68,913		93,716
Romspen Investment Corporation	72,523		29,146		72,523		29,717

Other	6		6		55		63

Total Investments at fair value	$	162,332	$	149,741	$	162,380	$	144,196


Equity method investments:	Cost		Carrying Value		Cost		Carrying Value

Wealth management - investment advisory	$	140	$	140	$	138	$	138

Total Equity method investments	140		140		138		138

Total	$	162,472	$	149,881	$	162,518	$	144,334


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2026		March 31, 2025
Gains (Losses) on Investments at fair value:
Realized gains (losses)	$	2	$	—
Unrealized gains (losses)	5,607		(4,334)
Total gains (losses) on Investments at fair value	$	5,609	$	(4,334)

Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Related Party Transactions

Related party transactions include the below:


(Dollars in Thousands)
Related Party Receivables	Condensed Consolidated Balance Sheet Line Item	As of March 31, 2026		As of December 31, 2025
Due from Certain TWMH Members, TIG GP Members and TIG MGMT Members (1)	Other assets	$	170	$	223
Due from Equity Method Investees (2)	Other assets	$	30	$	22


Due from TIG related fee arrangements	Fees receivable, net	$	652	$	9,535




Related Party Payables
Due to Certain TWMH Members, TIG GP Members and TIG MGMT Members (3)	Accrued member distribution payable	$	(3,358)	$	(3,260)
Due to Certain Non-Controlling Interest Holders in Connection with the Tax Receivable Agreements (4) (5)	TRA liability	$	(30,553)	$	(25,724)



Due to certain employees (6)	Other liabilities	$	(816)	$	(747)
Due to Certain TWMH Members, TIG GP Members, TIG MGMT Members and Alvarium Shareholders in connection with the Business Combination Earn-out (4) (5)	Earn-out liabilities, at fair value	$	(5,075)	$	(15,268)



EEA earn-out liability (4) (5)	Earn-out liabilities, at fair value	$	(26,326)	$	(25,259)
Envoi earn-out consideration liability (4) (5)	Earn-out liabilities, at fair value	$	(7,800)	$	(8,220)
Envoi earn-out growth consideration liability (4) (5)	Earn-out liabilities, at fair value	$	(1,450)	$	(1,620)
Kontora earn-out liability (4) (5)	Earn-out liabilities, at fair value	$	(7,024)	$	(7,044)
Preferred stock tranche liability (5)	Preferred stock tranche liability	$	(1,410)	$	(2,410)
Office lease liability (7)	Operating lease liabilities	$	(1,111)	$	(1,215)

Mezzanine Equity
Series A Preferred Stock (8)	Series A Redeemable Cumulative Convertible Preferred Stock	$	170,993	$	168,934
Series C Preferred Stock (8)	Series C Redeemable Cumulative Convertible Preferred Stock	$	181,216	$	176,904

Shareholders’ Equity

Allianz Warrants, net of issuance costs (8)	Additional paid-in capital	$	6,591	$	6,591
Constellation Warrants, net of issuance costs (8)	Additional paid-in capital	$	3,003	$	3,003

(2) Represents receivables related to loans, fees, and expenses due from equity method investees. See Note 9 (Equity Method Investments) for further detail on the nature of these relationships.

(3) Represents accrued member distributions payable to certain TWMH Members, TIG GP Members, and TIG MGMT Members issued in connection with the Business Combination.

(4) See Note 20 Commitments and Contingencies for a description of the nature and terms of the TRA and each earn-out arrangement.

(5) See Note 8 Fair Value Disclosures for current period activity, ending balances, and valuation methodologies.

(6) Represents a Vendor Loan Note issued in connection with a share buyback transaction by a senior executive of the Company. The Company expects the loan to be settled in mid-2026.

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Effective tax rate (in percent)	(0.50%)	35.90%
Valuation allowance	$ 67.3
Cumulative operating losses (in years)	3 years
Unrecognized tax benefits	$ 0.2

Business Combinations - Schedule of Pro Forma Financial Information (Details) - Kontora Family Office GmbH ("Kontora") $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($)
Business Combination, Pro Forma Information [Line Items]
Total revenue	$ 62,401
Net income (loss)	$ 1,500

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Equity-Based Compensation - Schedule of Equity-Based Compensation Award Activity (Details) - RSUs - $ / shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Number of Awards
Restricted common stock awards outstanding at beginning of period (in shares)	11,428,887	6,216,514
Restricted common stock granted (in shares)	2,820,485	2,772,576
Restricted common stock forfeited (in shares)	(5,149)	(18,269)
Restricted common stock vested (in shares)	(3,087,256)	(2,032,623)
Restricted common stock awards outstanding at end of period (in shares)	11,156,967	6,938,198
Weighted Average Grant Date Fair Value
Restricted common stock awards outstanding at beginning of period (in dollars per share)	$ 4.23	$ 4.86
Restricted common stock granted (in dollars per share)	4.05	3.45
Restricted common stock forfeited (in dollars per share)	3.86	4.76
Restricted common stock vested (in dollars per share)	4.21	4.60
Restricted common stock awards outstanding at end of period (in dollars per share)	$ 4.19	$ 4.38

Business Combinations - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Apr. 30, 2025	Dec. 31, 2024
Total Assets Acquired
Goodwill	$ 384,586	$ 385,966		$ 377,842
Kontora Family Office GmbH ("Kontora")
Total Assets Acquired
Cash and cash equivalents			$ 3,440
Fees receivable			2,702
Equity method investments			28
Intangible assets			14,075
Goodwill			981
Operating lease right-of-use assets			1,952
Deferred tax assets, net			1,451
Other assets, net			2,326
Total Assets Acquired			26,955
Total Liabilities Assumed
Accounts payable and accrued expenses			526
Accrued compensation and profit sharing			218
Debt, net of unamortized deferred financing cost			732
Operating lease liability			1,952
Deferred tax liability			4,774
Other liabilities, net			3,057
Total Liabilities Assumed			11,259
Total Assets Acquired and Liabilities Assumed			$ 15,696

Equity Method Investments	3 Months Ended
Equity Method Investments	Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments As of March 31, 2026 and December 31, 2025, the Company had $0.1 million and $0.1 million, respectively, of equity method investments recorded within Equity method investments on the Condensed Consolidated Statements of Financial Position. In accordance with US GAAP, certain equity method investees do not account for both their financial assets and liabilities under fair value measures; therefore, the Company’s investment in such equity method investees may not represent fair value. The Company recognized no impairment for three months ended March 31, 2026. For the three months ended March 31, 2025, the Company recognized impairment of $1.7 million on its equity method investments within Gain (loss) on investments in the Condensed Consolidated Statements of Operations. Additionally, as part of the Business Combination, AlTi acquired the right to carried interest on several projects. These are held as assets at cost less impairment. The Company assesses indicators of impairment every quarter utilizing a number of factors, including market conditions. For the three months ended March 31, 2025, the Company recognized $0.2 million of impairment to these assets.

Equity (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
Equity (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Class of Stock [Line Items]
Treasury stock reissued (in shares)		1,300,341
Treasury stock, at cost		$ 5,691	$ 0
Series C redeemable cumulative convertible preferred stock, issued (in shares)		150,000
Classification changes, liability to equity
Class of Stock [Line Items]
Adjustments to additional paid-in-capital		$ 9,600	$ 9,600
Class A Common Stock
Class of Stock [Line Items]
Common stock, outstanding (in shares)		109,799,384	103,330,156
Common stock, shares, outstanding, subject to forfeiture (in shares)		754,968	754,968
Common stock, issued (in shares)		109,799,384	103,330,156
Class B Common Stock
Class of Stock [Line Items]
Common stock, outstanding (in shares)		40,873,767	44,188,561
Common stock, issued (in shares)		40,873,767	44,188,561
Series A Preferred Stock
Class of Stock [Line Items]
Series C redeemable cumulative convertible preferred stock, issued (in shares)		168,934	168,934
Preferred stock, outstanding (in shares)		168,934	168,934	140,000	140,000
Series A Preferred Stock \| Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Investment Agreement
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	140,000

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	May 08, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	001-40103
Entity Registrant Name	AlTi Global, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	92-1552220
Entity Address, Address Line One	22 Vanderbilt Avenue
Entity Address, Address Line Two	27th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
City Area Code	(212)
Local Phone Number	396-5900
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	ALTI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001838615
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		110,744,073
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		40,873,767

Discontinued Operations - Schedule of Net Loss From Discontinued Operations, Net of Taxes (Details) - Discontinued Operations, Disposed of by Means Other than Sale - International Real Estate Segment $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($)
Revenue
Total revenue	$ 876
Operating Expenses
Compensation and employee benefits	1,854
Systems, technology and telephone	227
Sales, distribution and marketing	79
Occupancy costs	234
Professional fees	1,833
Travel and entertainment	62
General, administrative and other	1,665
Total operating expenses	5,954
Total operating loss	(5,078)
Other Income (Expenses)
Loss on investments	(1,840)
Interest income	10
Loss before taxes	(6,908)
Income tax expense	(11)
Net loss from discontinued operations, net of income tax	(6,919)
Management/advisory fees
Revenue
Total revenue	875
Other fees/income
Revenue
Total revenue	$ 1

Other assets, net and Other liabilities, net

3 Months Ended

Mar. 31, 2026

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other assets, net and Other liabilities, net

The following table provides a breakdown of Other assets, net reported on the Condensed Consolidated Statements of Financial Position.


(Dollars in Thousands)	As of March 31, 2026		As of December 31, 2025
Fixed assets, net:
Leasehold improvements	$	18,731	$	18,705
Office equipment and furniture	5,809		5,653
Foreign currency translation adjustment	189		184
Accumulated depreciation	(7,449)		(6,852)
Fixed assets, net	17,280		17,690

Accrued income	15,108		18,409
Prepaid expenses	10,370		8,268
Sundry receivables	4,724		4,908
Other receivables	2,779		2,683
Third party receivables related to IRE	—		2,082
Other assets	2,367		2,406
Other assets, net (1)	$	52,628	$	56,446

The following table provides a breakdown of Other liabilities, net reported on the Condensed Consolidated Statements of Financial Position.


(Dollars in Thousands)	As of March 31, 2026		As of December 31, 2025


Payroll taxes	1,162		1,754
Payroll	1,522		869
Corporation tax payable	2,347		2,532

Accrued legal	4,332		4,496
Other (1)	3,014		5,025


Other Liabilities, net (2)	$	12,377	$	14,676

(1) The other category is comprised primarily of miscellaneous payables and provisions.

(2) As of March 31, 2026 and December 31, 2025, these amounts include $0.8 million and $0.7 million, respectively, in liabilities due to related parties.

Retirement Plans - Narrative (Details) $ in Millions	3 Months Ended
Retirement Plans - Narrative (Details) $ in Millions	Mar. 31, 2026 USD ($)
Postemployment Benefits [Abstract]
Defined contribution plan, tax status	Qualified Plan [Member]
Contributions payable	$ 1.7

Business Combinations - Schedule of Purchase, Cash and Equity Considerations (Details) - USD ($) $ in Thousands	Apr. 30, 2025	Mar. 31, 2026	Dec. 31, 2025
Amount
Contingent consideration		$ 47,675	$ 57,411
Kontora Family Office GmbH ("Kontora")
Amount
Initial purchase price	$ 8,740
Settlement of debt	1,213
Contingent consideration	5,743
Total purchase consideration transferred	$ 15,696

Retirement Plans

3 Months Ended

Mar. 31, 2026

Postemployment Benefits [Abstract]

Retirement Plans

The Company sponsors a defined–contribution 401(k) plan for the benefit of its employees. The plan allows employees to contribute a percentage of their salary subject to certain limitations set forth by the Internal Revenue Service, on a pretax basis. At its discretion, the Company can make profit sharing plan contributions to the participants’ accounts. The Company’s contributions are summarized in the following table:


(Dollars in Thousands)	For the Three Months Ended
	March 31, 2026		March 31, 2025
Plan Contributions	$	1,066	$	904

As of March 31, 2026 $1.7 million in contributions was payable, which is included in Accounts payable and accrued expenses on the Condensed Consolidated Statements of Financial Position.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/715/tableOfContent

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Debt, net of unamortized deferred financing cost (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Outstanding Debt Obligations

The following table summarizes outstanding debt obligations of the Company as of March 31, 2026 and December 31, 2025:


	As of March 31, 2026						As of December 31, 2025
(Dollars in Thousands)	Debt Outstanding		Net Carrying Value (1)		Fair Value		Debt Outstanding		Net Carrying Value (1)		Fair Value
Administrators Term Loan	$	14,510	$	14,639	$	14,639	$	—	$	—	$	—
Kontora Credit Facility
Term Loan	410		410		410		503		503		503
Revolving Line of Credit	—		—		—		380		380		380
Total Debt	$	14,920	$	15,049	$	15,049	$	883	$	883	$	883

(1) The carrying value of the Term Loans and Revolving Line of Credit approximates fair value as of March 31, 2026 and December 31, 2025.

Schedule of Contractual Maturities of the Term Loans

Contractual maturities of the Administrators Term Loan and Term Loan as of March 31, 2026, are set out in the table below:


(Dollars in Thousands)	Administrators Term Loan		Kontora Term Loan		Aggregate Maturities


2026	$	8,145	$	246	$	8,391
2027	6,365		164		6,529


Total	$	14,510	$	410	$	14,920

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The table below presents the Company’s treatment for basic and diluted earnings (loss) per share for instruments outstanding of the Company. Potentially dilutive instruments are only considered in the calculation to the extent they would be dilutive.

For the Three Months Ended

March 31, 2026

March 31, 2025

Basic

Diluted

Basic

Diluted

Class A Common Stock

Included

Class B Common Stock (1)

Excluded

If-converted method

Excluded

If-converted method

Series A Preferred Stock (2)

Two-class method

More dilutive of two-class method or if-converted method

Two-class method

More dilutive of two-class method or if-converted method

Series C Preferred Stock (2)

Two-class method

More dilutive of two-class method or if-converted method

Two-class method

More dilutive of two-class method or if-converted method

Allianz Tranche Right(3)

Excluded

If-converted method

Excluded

If-converted method

Allianz Warrants(4)

Excluded

Treasury stock method

Excluded

Treasury stock method

Constellation Warrants(4)

Excluded

Treasury stock method

Excluded

Treasury stock method

Earn-Out Shares(5)

Excluded

Treasury stock method

Excluded

Treasury stock method

PW Deferred Consideration Shares(6)

—

Included

Acquisition-Related Awards(7)

Excluded

Included

Excluded

Included

Unvested RSUs(8)

Excluded

Treasury stock method

Excluded

Treasury stock method

Unvested PRSUs (8)

Excluded

Treasury stock method

Excluded

Treasury stock method

(1) The if-converted method for instruments related to the Company’s Business Combination and Envoi earn-out liability includes adding back to the numerator any related income or loss allocations to noncontrolling interest, as well as any incremental tax expense had the instruments converted into shares of Class A Common Stock as of the beginning of the period. During the three months ended March 31, 2026 and 2025, Class B shares totaling 3,314,794 and 1,028,652, respectively, were converted into Class A Common Stock.

(2) The Company issued shares of Series A and C Preferred Stock in addition to warrants for shares of Class A Common Stock. Both Series A and C Preferred Stock are entitled to participate in dividends declared on common stock on an as-converted basis. This participation right requires application of the two-class method to calculate basic earnings per share. The two-class method requires income available to common stockholders for the period to be allocated between all participating instruments based upon their respective rights to receive dividends as if all income for the period had been distributed. Basic earnings per share is calculated using the proportion of net income available to be distributed to the common shareholders. Dilutive earnings per share is calculated using the more dilutive of the two-class method or the if-converted method. For the three months ended March 31, 2026 and 2025, the shares of Series A and C Preferred Stock were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive.

(3) The Allianz Tranche Right grants Allianz the right, but not the obligation, to purchase up to 50,000 additional shares of Series A Preferred Stock at an aggregate purchase price of up to $50 million. Any additional shares of Series A Preferred Stock issued to Allianz will abide under the same conditions and terms as under the Investment. The Allianz Tranche Right is classified as a contingently convertible instrument and will be included in the calculation of diluted earnings per share if the right has been exercised within the reporting period. As of the current quarter ended March 31, 2026, an additional 18,471 shares under the Allianz Tranche Right were issued; however, these shares were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive.

(4) As mentioned in footnotes 2 above, the Company issued shares of Series A and C Preferred Stock in addition to warrants for Class A Shares to Allianz and Constellation. The warrants do not participate in dividends declared on common stock and are excluded from the calculation of basic earnings per share. Since the warrants are classified as a component of equity and can be exercised in exchange for Class A Shares, the treasury stock method is used to calculate diluted earnings per share. For the three months ended March 31, 2026 and

2025, the warrants were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive.

(5) Earn-Out Shares are the portion of estimated contingent consideration related to the Business Combination, EEA earn-out liability, and Envoi growth-consideration liability that could be paid out in Class A Common Stock. Earn-Out shares are excluded from the calculation of basic earnings per share if the contingency has not been resolved as of the current reporting period.

The treasury stock method is applied for calculating diluted earnings per share since our Earn-Outs are classified as liabilities and remeasured at fair value each period and includes reversing the income statement effect of the fair value remeasurement for the period. For the three months ended March 31, 2026, all Earn-Out shares were excluded from the calculation of diluted earnings per share as their effects were determined to be anti-dilutive. For the three months ended March 31, 2025, the Earn-Out shares related to EEA and Envoi were included in dilutive earnings per share, while those related to the Business Combination were excluded as the effects were determined to be anti-dilutive.

(6) PW Deferred Consideration Shares relate to the portion of deferred consideration payable in Class A Common Stock upon meeting certain revenue thresholds related to our PW acquisition. During the quarter ended March 31, 2025, the PW Deferred Consideration Shares were issued to the sellers and are included in the Company’s basic earnings per share. As of March 31, 2025, there were no further contingent shares outstanding related to the PW Deferred Consideration Shares. Refer to Note 4 (Business Combinations) for further details.

(7) Acquisition-Related Awards include EEA Equity Awards, Envoi Equity Awards, Singapore Equity Awards and Kontora Earn-Ins. Certain compensatory awards related to the PW acquisition (the “PW Equity Awards”) were reclassified to be paid out fully in cash rather than equity during the quarter ended March 31, 2025. As such, the PW Equity Awards were excluded from the Company’s earnings per share calculations.

Service periods related to the Acquisition-Related Awards had not been completed as of the three months ended March 31, 2026 and therefore such shares were excluded from the calculation of basic earnings per share.

For diluted earnings per share, a contingency that is based on solely on service vesting (i.e., the passage of time) is considered resolved in the current reporting, and the shares are included in the calculation of diluted earnings per share in the current reporting period. The Envoi Equity Awards represent a defined percentage of Envoi growth-consideration Earn-Out Shares allocated to certain employees and are therefore initially contingent on the achievement of the Earn-out Share conditions.

For the three months ended March 31, 2026, the Acquisition-Related Awards, excluding Envoi Equity Awards, are included in the diluted earnings. For the three months ended March 31, 2025, the Acquisition-Related Awards were excluded because their effects were determined to be anti-dilutive. These awards included the PW Equity Awards and Holbein Earn-Ins through the quarters ended March 31, 2025 and June 30, 2025, respectively. Refer to Note 6 (Equity-Based Compensation) for additional details for the Acquisition-Related Awards.

(8) RSUs vest over the required service period, and PRSUs vest based on both a market condition and a required service period. As such, unvested RSUs and PRSUs are excluded from the calculation of basic earnings per share.

The treasury stock method is applied for calculating the dilutive effects of share-based payment awards. For the three months ended March 31, 2026 and March 31, 2025, unvested RSUs and PRSUs were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive. See Note 6 (Equity-Based Compensation) for additional details.

Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of Class A Common Stock outstanding during the period. Diluted earnings per common share excludes potentially dilutive instruments which were outstanding during the period but were anti-dilutive. The following table shows the computation of basic and diluted earnings per share based on income attributable to common shareholders:


	For the Three Months Ended
(Dollars in Thousands, except share data)	March 31, 2026		March 31, 2025
Numerator:
Net income (loss) from continuing operations	$	8,390	$	4,037
Net income (loss) attributable to noncontrolling interests in subsidiaries from continuing operations	686		(4,792)
Net income (loss) attributable to AlTi Global Inc	$	7,704	$	8,829
Less: Preferred stock dividends	(6,371)		(5,661)
Less: Undistributed earnings allocated to participating securities	(596)		(1,510)
Income (loss) from continuing operations available to Class A shareholders - basic	$	737	$	1,658
Dilutive effect of Class B Common Stock	—		(4,792)
Dilutive effect of Earn-Out Shares	—		(343)
Income (loss) from continuing operations available to Class A shareholders - diluted	$	737	$	(3,477)

Denominator:
Weighted-average shares of Class A Common Stock outstanding - basic	105,021,861		94,883,803
Dilutive effect of Class B Common Stock	—		49,069,963
Dilutive effect of Earn-Out Shares	—		3,210,302
Dilutive effect of Stock Awards	3,778,975		—
Dilutive effect of Acquisition-Related Awards	2,077,533		—
Weighted-average shares of Class A Common Stock outstanding - diluted	110,878,369		147,164,068
Income (loss) from continuing operations per Class A Common Stock - basic	$	0.01	$	0.02
Income (loss) from continuing operations per Class A Common Stock - diluted	$	0.01	$	(0.02)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes the securities that were anti-dilutive for the periods presented. As a result, these securities were excluded from the computation of diluted earnings per share for the periods presented:


	For the Three Months Ended
	March 31, 2026	March 31, 2025
Class B Common Stock and Class B Units	46,256,309	—

Allianz and Constellation Warrants	7,000,000	7,000,000
Preferred Stock	40,483,820	35,556,939
Earn-Out Shares	15,359,014	10,825,746

Acquisition-Related Awards	264,380	2,418,340
Stock Awards	—	3,624,166

Leases

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Leases

The Company primarily has non-cancellable operating leases for office spaces across various countries. We categorize leases as either operating or finance leases at the commencement date of the respective lease.

The components of lease costs are as follows:


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2026		March 31, 2025
Operating lease expense	$	2,389	$	3,212
Variable lease expense	501		620
Short-term lease expense	22		45
Total lease expense (1)	$	2,912	$	3,877

Supplemental cash flow information and non-cash activity related to our operating leases are as follows:


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2026		March 31, 2025
Operating cash flow information:
Cash outflows - operating leases (1)	$	2,399	$	1,879
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$	702	$	680

Weighted-average remaining lease term and discount rate for our operating leases are as follows:


	As of March 31, 2026		As of December 31, 2025
Weighted-average remaining lease term	11.26		11.38
Weighted-average discount rate	6.33	%	6.31	%

Future minimum lease payments for the Company’s operating leases as of March 31, 2026, are as follows:


	Future Minimum Rental Operating Leases
(Dollars in Thousands)
2026	$	6,353
2027	9,028
2028	8,484
2029	7,204
2030	6,442
2031 and beyond	49,603
Total lease payments	87,114
Less: Imputed interest	26,333
Present value of lease liabilities	$	60,781

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2026
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation AlTi Global, Inc. (“AlTi” or the “Company”) is a global wealth and investment partner to families, foundations and institutions, helping clients activate capital with clarity, bring structure to complexity, and plan with purpose across borders and generations. AlTi combines the breadth of a global firm with the service offering of a family office to deliver solutions designed to meet the full complexity of wealth and capital. The Company operates as one reportable segment. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with US GAAP for interim financial statements and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the results for the interim periods presented have been included and are of a normal and recurring nature. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and accompanying notes the Annual Report on Form 10-K for the year ended December 31, 2025. Certain prior period presentations and disclosures, while not required to be recast, may be reclassified to ensure comparability with current period classifications.
Recent Accounting Pronouncements	Recent Accounting Pronouncements - Adopted as of March 31, 2026 In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). ASU 2025-05 provides all entities, when developing reasonable and supportable forecasts as part of estimating expected credit losses, the election of a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for annual periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. The adoption of ASU 2025-05 did not have a material impact on the Company's consolidated financial statements. Recent Accounting Pronouncements - Not Yet Adopted as of March 31, 2026 In April 2026, the FASB issued ASU 2026-01, Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred Stock (“ASU 2026-01”). ASU 2026-01 provides authoritative guidance on how an issuer should initially measure paid-in-kind dividends on equity-classified preferred stock. The amendments require that paid-in-kind dividends be initially measured on the basis of the paid-in-kind dividend rate stated in the preferred stock agreement. ASU 2026-01 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact of ASU 2026-01 on its consolidated financial statements. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”). ASU 2025-11 clarifies and improves existing interim reporting guidance by consolidating disclosure requirements within Topic 270 and introducing a disclosure principle requiring entities to disclose events and changes occurring after the most recent annual reporting period that are expected to have a material effect on the entity’s financial condition or results of operations. The ASU does not introduce significant changes to recognition or measurement guidance. ASU 2025-11 is effective for interim reporting periods beginning after December 31, 2027, with early adoption permitted. The Company does not expect the adoption of ASU 2025-11 to have a material impact on its consolidated financial statements. In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity (“ASU 2025-03”). ASU 2025-03 clarifies the guidance in determining the acquirer in an acquisition transaction effected primarily by exchanging equity interests when the legal acquiree is a VIE that meets the definition of a business. The amendments require that an entity consider the same factors that are currently required for determining which entity is the accounting acquirer in other acquisition transactions. ASU 2025-03 is effective for annual periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company does not expect the adoption of ASU 2025-03 to have a material impact on to its consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) (“ASU 2024-03”). ASU 2024-03 require disclosure, in the notes to financial statements, of specified information about certain costs and expenses at each interim and annual reporting period. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company does not expect the adoption of ASU 2024-03 to have a material impact on its consolidated financial statements.
Fair Value Measurement	The Company classifies its fair value measurements using a three-tiered fair value hierarchy. The basis of the tiers is dependent upon the various “inputs” used to determine the fair value of the Company’s assets and liabilities. Fair value is considered the value using the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the inputs market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The inputs are summarized in the three broad levels listed below: •Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. •Level 2 – Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. •Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. Level 3 Valuation Techniques In the absence of observable market prices, the Company values financial instruments using valuation methodologies applied on a consistent basis. For some investments little market activity may exist; management’s determination of fair value is then based on the best information available in the circumstances and may incorporate management’s own assumptions and involves a significant degree of judgment, taking into consideration a combination of internal and external factors. Financial instruments for which market prices are not observable include: •Business Combination Earn-Out Liability - The Company’s valuation approach utilized a Monte Carlo simulation to estimate future share prices and the implied earn-out payment discounted using the risk-free rate. •TRA Liability - The Company’s valuation approach utilized a Monte Carlo simulation to estimate future taxable income, share prices, and the implied TRA payments discounted using the liability discount rate which is estimated based on the Company’s credit rating. •EEA Earn-Out Liability - The Company’s valuation approach utilized a Discounted Cash Flow approach to determine the fair value using the liability discount rate which is estimated based on the Company’s credit quality. •Envoi Earn-Out Consideration Liability - The Company’s valuation approach utilized a risk-adjusted Discounted Cash Flow approach to determine the fair value using the liability discount rate which is estimated based on the Company’s credit quality rating. •Envoi Earn-Out Growth Consideration Liability - The Company’s valuation approach utilized a Monte Carlo simulation to estimate future revenue and the implied earn-out payment discounted using the liability discount rate which is estimated based on the Company’s credit quality rating. •Kontora Earn-Out Liability - The Company’s valuation approach utilized a Discounted Cash Flow approach to determine the fair value using the liability discount rate which is estimated based on the Kontora subgroups’ weighted average cost of capital for a useful life of ten years. •Preferred Stock Tranche Liability - The fair value of the Allianz Tranche Right is determined based on Level 3 inputs using a binomial lattice model. At each node of the binomial lattice model, the decision to exercise the Allianz Tranche Right is determined based on if the value of the Series A Preferred Stock at such node is greater than the right’s strike price of $1,000 per share. At nodes where the Allianz Tranche Right is exercised, the resulting payoff of the right is discounted back to the prior node at the risk-free rate. The fair value of the Allianz Tranche Right is estimated by backward inducting values in the binomial lattice model to the initial node. A probability-weighted assessment is also included as part of the inputs to the valuation of the Allianz Tranche Right. •Investments in External Strategic Managers - The Company utilized a Discounted Cash Flow approach to determine the fair value of the External Strategic Managers. The discount rate selection for each investment was calibrated using the implied internal rate of return as of the original investment date, adjusted for certain market- and company-specific factors. The selected long-term growth rate for each investment was based on long-term GDP growth rates in the geographic locations of the underlying External Strategic Manager, with consideration for general growth in the asset management industry.

Revenue

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue

The following table represents the Company’s revenue disaggregated by fee type for the periods presented below:


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2026		March 31, 2025

Management/advisory fees	$	51,895	$	44,775
Incentive fees	(89)		96
Distributions from investments	21,268		12,210
Other fees/income	31		6
Total revenue	$	73,105	$	57,087


(Dollars in Thousands)	As of March 31, 2026		As of December 31, 2025

Management/advisory fees receivable
Beginning balance	$	35,047	$	28,896
Ending balance (1)	34,083		35,047

Incentive fees receivable
Beginning balance	$	30,335	$	1,324
Ending balance (2)	287		30,335

Other fees/income receivable
Beginning balance	$	189	$	—
Ending balance	—		189

Deferred management/advisory fees
Beginning balance	$	—	$	—
Ending balance	(317)		—

(1) As of March 31, 2026 and December 31, 2025, this amount includes $0.6 million and $0.6 million, respectively, in Management/advisory fees receivable due from related parties. See Note 17 (Related Party Transactions) for further details.

(2) As of March 31, 2026 and December 31, 2025, this amount includes $0.0 million and $9.0 million, respectively, in Incentive fees receivable due from related parties. See Note 17 (Related Party Transactions) for further details.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Investments - Schedule of Cost and Fair Value of Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	$ 162,332	$ 162,380
Investment at Fair Value, Fair Value	149,741	144,196
Equity method investments, Cost	140	138
Equity method investments, Carrying Value	140	138
Total Investments, Cost	162,472	162,518
Total Investments, Fair Value	149,881	144,334
Mutual funds
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	35	38
Investment at Fair Value, Fair Value	38	42
Exchange-traded funds and BDC funds
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	21	17
Investment at Fair Value, Fair Value	37	35
TIG Arbitrage Associates Master Fund
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	482	482
Investment at Fair Value, Fair Value	570	566
TIG Arbitrage Enhanced Master Fund
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	179	179
Investment at Fair Value, Fair Value	368	362
Arkkan Opportunities Feeder Fund
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	111	111
Investment at Fair Value, Fair Value	154	152
Arkkan Capital Management Limited
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	20,062	20,062
Investment at Fair Value, Fair Value	19,510	19,543
Zebedee Asset Management
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	68,913	68,913
Investment at Fair Value, Fair Value	99,912	93,716
Romspen Investment Corporation
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	72,523	72,523
Investment at Fair Value, Fair Value	29,146	29,717
Other
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	6	55
Investment at Fair Value, Fair Value	6	63
Wealth management - investment advisory
Schedule of Held-to-Maturity Securities [Line Items]
Equity method investments, Cost	140	138
Equity method investments, Carrying Value	$ 140	$ 138

Retirement Plans - Schedule of Costs of Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Postemployment Benefits [Abstract]
Plan Contributions	$ 1,066	$ 904

Earnings Per Share - Schedule of Treatment for Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Feb. 22, 2024
Class B Common Stock
Class of Warrant or Right [Line Items]
Converted shares (in shares)	3,314,794	1,028,652
Series A Preferred Stock \| Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Tranche Right \| Allianz Investment Agreement
Class of Warrant or Right [Line Items]
Number of securities called by warrants or rights (in shares)	18,471		50,000
Value of securities called by warrant or right			$ 50

Business Combinations - Schedule of Intangible Assets Acquired (Details) - Kontora Family Office GmbH ("Kontora") $ in Thousands	Apr. 30, 2025 USD ($)
Business Combination, Recognized Asset Acquired, Asset [Abstract]
Total Intangible Assets	$ 14,075
Brand
Business Combination, Recognized Asset Acquired, Asset [Abstract]
Definite-Lived Intangible Assets	$ 187
Estimated Life (Years)	3 years
License
Business Combination, Recognized Asset Acquired, Asset [Abstract]
Definite-Lived Intangible Assets	$ 4,385
Estimated Life (Years)	15 years
Customer relationships
Business Combination, Recognized Asset Acquired, Asset [Abstract]
Definite-Lived Intangible Assets	$ 9,443
Estimated Life (Years)	15 years
Software
Business Combination, Recognized Asset Acquired, Asset [Abstract]
Definite-Lived Intangible Assets	$ 60
Estimated Life (Years)	3 years

Intangible Assets, net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2026	Sep. 30, 2025	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 307,837		$ 309,172
Impairment/Disposals			(600)
Accumulated Amortization	(42,523)		(38,419)
Net Carrying Amount	265,314		270,153
Foreign currency translation differences	(700)		4,100
Non-amortized intangible assets
Gross Carrying Amount	166,004		201,004
Impairment/Disposals			(35,000)
Net Carrying Amount	166,004		166,004
Intangible Assets, Gross Carrying Amount	473,841		510,176
Intangible Assets, Impairment			(35,600)
Intangible Assets, Net Carrying Amount	431,318		436,157
Kontora Family Office GmbH ("Kontora")
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired			14,800
Adjustments to intangibles			(700)
Other intangible asset
Non-amortized intangible assets
Gross Carrying Amount	4		4
Impairment/Disposals			0
Net Carrying Amount	4		4
Investment management agreements
Non-amortized intangible assets
Gross Carrying Amount	166,000		201,000
Impairment/Disposals		$ (35,000)
Net Carrying Amount	$ 166,000		$ 166,000
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	22 years 1 month 6 days		22 years
Gross Carrying Amount	$ 289,778		$ 290,419
Impairment/Disposals			0
Accumulated Amortization	(36,886)		(33,235)
Net Carrying Amount	$ 252,892		$ 257,184
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	9 years 4 months 24 days		9 years 3 months 18 days
Gross Carrying Amount	$ 12,235		$ 12,238
Impairment/Disposals			0
Accumulated Amortization	(4,177)		(3,828)
Net Carrying Amount	$ 8,058		$ 8,410
License
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	15 years		15 years
Gross Carrying Amount	$ 4,444		$ 4,535
Impairment/Disposals			0
Accumulated Amortization	(271)		(195)
Net Carrying Amount	$ 4,173		$ 4,340
Acquired internally developed software
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	5 years		5 years
Gross Carrying Amount	$ 700		$ 1,300
Impairment/Disposals			(600)
Accumulated Amortization	(520)		(505)
Net Carrying Amount	$ 180		$ 195
Other intangible asset
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	2 years		1 year 6 months
Gross Carrying Amount	$ 680		$ 680
Impairment/Disposals			0
Accumulated Amortization	(669)		(656)
Net Carrying Amount	$ 11		$ 24

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Total revenue	$ 73,105	$ 57,087
Management/advisory fees
Disaggregation of Revenue [Line Items]
Total revenue	51,895	44,775
Incentive fees
Disaggregation of Revenue [Line Items]
Total revenue	(89)	96
Distributions from investments
Disaggregation of Revenue [Line Items]
Total revenue	21,268	12,210
Other fees/income
Disaggregation of Revenue [Line Items]
Total revenue	31	6
Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	73,105	57,087
Operating Segments \| Management/advisory fees
Disaggregation of Revenue [Line Items]
Total revenue	51,895	44,775
Operating Segments \| Incentive fees
Disaggregation of Revenue [Line Items]
Total revenue	(89)	96
Operating Segments \| Distributions from investments
Disaggregation of Revenue [Line Items]
Total revenue	21,268	12,210
Operating Segments \| Other fees/income
Disaggregation of Revenue [Line Items]
Total revenue	$ 31	$ 6

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-14

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 8: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 9: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Revenue - Schedule of Contract with Customer (Details) - Operating Segments - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Dec. 31, 2024
Management/advisory fees receivable
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	$ 34,083	$ 35,047	$ 28,896
Deferred revenue	(317)	0	0
Management/advisory fees receivable \| Related party
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	600	600
Incentive fees receivable
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	287	30,335	1,324
Incentive fees receivable \| Related party
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	0	9,000
Other fees/income receivable
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	$ 0	$ 189	$ 0

Condensed Consolidated Statement of Financial Position (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 39,715	$ 41,158
Investments at fair value	149,741	144,196
Equity method investments	140	138
Intangible assets, net of accumulated amortization	431,318	436,157
Goodwill	384,586	385,966
Operating lease right-of-use assets	45,718	46,686
Deferred tax asset, net	0	130
Other assets, net	52,628	56,446
Total assets	1,138,216	1,176,448
Liabilities
Accounts payable and accrued expenses	26,443	48,637
Accrued compensation and profit sharing	48,158	77,286
Accrued member distributions payable	3,358	3,260
Earn-out liabilities, at fair value	47,675	57,411
TRA liability (includes $8,584 and $8,785 at fair value, respectively)	30,553	25,724
Preferred stock tranche liability, at fair value	1,410	2,410
Operating lease liabilities	60,781	61,675
Debt, net of unamortized deferred financing cost	15,049	883
Deferred tax liability, net	9,571	9,697
Deferred income	317	0
Other liabilities, net	12,377	14,676
Total liabilities	255,692	301,659
Commitments and contingencies (Note 20)
Shareholders’ Equity
Treasury stock, at cost: 1,300,341 and 0 shares as of March 31, 2026 and December 31, 2025, respectively	(5,691)	0
Additional paid-in capital	676,102	667,298
Retained earnings (accumulated deficit)	(410,311)	(418,015)
Accumulated other comprehensive income (loss)	6,395	4,975
Total AlTi Global, Inc. shareholders’ equity	618,714	600,106
Non-controlling interest in subsidiaries	263,810	274,683
Total shareholders’ equity	882,524	874,789
Total liabilities, mezzanine equity, and shareholders’ equity	1,138,216	1,176,448
Series A Preferred Stock
Mezzanine Equity
Preferred stock	170,993	168,934
Series C Preferred Stock
Mezzanine Equity
Preferred stock	181,216	176,904
Class A Common Stock
Shareholders’ Equity
Common stock	10	10
Class B Common Stock
Shareholders’ Equity
Common stock	0	0
Class C Common Stock
Shareholders’ Equity
Common stock	0	0
Fees receivable, net
Assets
Fees receivable, net (includes $651 and $9,535 of related party receivables, respectively)	$ 34,370	$ 65,571

Equity-Based Compensation - Schedule of Equity-Based Compensation Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 13,638	$ 7,436
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	7,838	3,382
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	600	1,396
Acquisition-related
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	665	1,517
Revenue share
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	120	271
Deferred compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	1,795	870
Accrued compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 2,619	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Intangible Assets, net - Schedule of Estimated Future Amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2026	$ 12,280
2027	16,367
2028	16,320
2029	16,044
2030 and beyond	204,303
Total	$ 265,314	$ 270,153

Condensed Consolidated Statement of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenue
Total revenue	$ 73,105	$ 57,087
Operating Expenses
Compensation and employee benefits	56,274	40,419
Systems, technology and telephone	4,406	5,322
Sales, distribution and marketing	969	604
Occupancy costs	2,928	3,532
Professional fees	9,052	9,118
Travel and entertainment	841	858
Depreciation and amortization	4,706	4,349
General, administrative and other	4,593	1,295
Total operating expenses	83,769	65,497
Total operating income (loss)	(10,664)	(8,410)
Other Income (Expenses)
Gain (loss) on investments	5,609	(4,354)
Gain (loss) on TRA	201	304
Gain (loss) on preferred stock tranche liability	1,000	2,540
Gain (loss) on earnout liabilities	9,581	12,583
Interest expense	(89)	(151)
Interest income	413	505
Other income (expense)	2,298	(603)
Income (loss) before taxes from continuing operations	8,349	2,414
Income tax (expense) benefit from continuing operations	41	1,623
Net income (loss) from continuing operations	8,390	4,037
Net income (loss) from discontinued operations, net of income tax	0	(6,919)
Net income (loss)	8,390	(2,882)
Net (loss) income attributed to non-controlling interests in subsidiaries from continuing operations	686	(4,792)
Net income (loss) attributable to AlTi Global, Inc.	$ 7,704	$ 1,910
Basic:
Continuing operations (in dollars per share)	$ 0.01	$ 0.02
Discontinued operations (in dollars per share)	0	(0.07)
Diluted:
Continuing operations (in dollars per share)	0.01	(0.02)
Discontinued operations (in dollars per share)	$ 0	$ (0.07)
Weighted Average Shares of Class A Common Stock Outstanding
Basic (in shares)	105,021,861	94,883,803
Diluted (in shares)	110,878,369	147,164,068
Continuing Operations
Weighted Average Shares of Class A Common Stock Outstanding
Basic (in shares)	105,021,861	94,883,803
Diluted (in shares)	110,878,369	147,164,068
Discontinued Operations
Weighted Average Shares of Class A Common Stock Outstanding
Basic (in shares)	0	94,883,803
Diluted (in shares)	0	94,883,803
Management/advisory fees
Revenue
Total revenue	$ 51,895	$ 44,775
Incentive fees
Revenue
Total revenue	(89)	96
Distributions from investments
Revenue
Total revenue	21,268	12,210
Other income/fees
Revenue
Total revenue	$ 31	$ 6

Fair Value Disclosures

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value Disclosures

The Company classifies its fair value measurements using a three-tiered fair value hierarchy. The basis of the tiers is dependent upon the various “inputs” used to determine the fair value of the Company’s assets and liabilities. Fair value is considered the value using the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the inputs market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The inputs are summarized in the three broad levels listed below:

•Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access.

•Level 2 – Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

•Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

Level 3 Valuation Techniques

In the absence of observable market prices, the Company values financial instruments using valuation methodologies applied on a consistent basis. For some investments little market activity may exist;

management’s determination of fair value is then based on the best information available in the circumstances and may incorporate management’s own assumptions and involves a significant degree of judgment, taking into consideration a combination of internal and external factors. Financial instruments for which market prices are not observable include:

•Business Combination Earn-Out Liability - The Company’s valuation approach utilized a Monte Carlo simulation to estimate future share prices and the implied earn-out payment discounted using the risk-free rate.

•TRA Liability - The Company’s valuation approach utilized a Monte Carlo simulation to estimate future taxable income, share prices, and the implied TRA payments discounted using the liability discount rate which is estimated based on the Company’s credit rating.

•EEA Earn-Out Liability - The Company’s valuation approach utilized a Discounted Cash Flow approach to determine the fair value using the liability discount rate which is estimated based on the Company’s credit quality.

•Envoi Earn-Out Consideration Liability - The Company’s valuation approach utilized a risk-adjusted Discounted Cash Flow approach to determine the fair value using the liability discount rate which is estimated based on the Company’s credit quality rating.

•Envoi Earn-Out Growth Consideration Liability - The Company’s valuation approach utilized a Monte Carlo simulation to estimate future revenue and the implied earn-out payment discounted using the liability discount rate which is estimated based on the Company’s credit quality rating.

•Kontora Earn-Out Liability - The Company’s valuation approach utilized a Discounted Cash Flow approach to determine the fair value using the liability discount rate which is estimated based on the Kontora subgroups’ weighted average cost of capital for a useful life of ten years.

•Preferred Stock Tranche Liability - The fair value of the Allianz Tranche Right is determined based on Level 3 inputs using a binomial lattice model. At each node of the binomial lattice model, the decision to exercise the Allianz Tranche Right is determined based on if the value of the Series A Preferred Stock at such node is greater than the right’s strike price of $1,000 per share. At nodes where the Allianz Tranche Right is exercised, the resulting payoff of the right is discounted back to the prior node at the risk-free rate. The fair value of the Allianz Tranche Right is estimated by backward inducting values in the binomial lattice model to the initial node. A probability-weighted assessment is also included as part of the inputs to the valuation of the Allianz Tranche Right.

•Investments in External Strategic Managers - The Company utilized a Discounted Cash Flow approach to determine the fair value of the External Strategic Managers. The discount rate selection for each investment was calibrated using the implied internal rate of return as of the original investment date, adjusted for certain market- and company-specific factors. The selected long-term growth rate for each investment was based on long-term GDP growth rates in the geographic locations of the underlying External Strategic Manager, with consideration for general growth in the asset management industry.

Refer to the valuation methodologies table below for further analysis of Level 3 valuations.


	As of March 31, 2026
	Level 1		Level 2		Level 3
(Dollars in Thousands)	Quoted Prices		Observable Inputs		Unobservable Inputs		Total
Assets:
Mutual funds	$	38	$	—	$	—	$	38
Exchange-traded funds and BDC funds	37		—		—		37
Investments – External Strategic Managers	—		—		148,568		148,568
Investments – Affiliated Funds (1)	—		—		—		1,092

Other	6		—		—		6
Total	$	81	$	—	$	148,568	$	149,741

Liabilities:

Preferred stock tranche liability	$	—	$	—	$	1,410	$	1,410
Earn-out liabilities	—		—		47,675		47,675


TRA liability (2)	—		—		8,584		8,584
Derivative liability	$	—	$	—	$	57,669	$	57,669


	As of December 31, 2025
	Level 1		Level 2		Level 3
(Dollars in Thousands)	Quoted Prices		Observable Inputs		Unobservable Inputs		Total
Assets:
Mutual funds	$	42	$	—	$	—	$	42
Exchange-traded funds and BDC funds	35		—		—		35
Investments – External Strategic Managers	—		—		142,976		142,976
Investments – Affiliated Funds (1)	—		—		—		1,080
Other	6		57		—		63
Total	$	83	$	57	$	142,976	$	144,196

Liabilities:

Preferred stock tranche liability	$	—	$	—	$	2,410	$	2,410
Earn-out liabilities	—		—		57,411		57,411
TRA liability (2)	—		—		8,785		8,785


Total	$	—	$	—	$	68,606	$	68,606

(2) The Company carries a portion of its TRA liability at fair value equal to the expected future payments under the TRA.

Level 3 Rollforwards

The following table sets forth a summary of changes in the fair value of Level 3 financial instruments during the three months ended March 31, 2026 and December 31, 2025:


	As of March 31, 2026
(Dollars in Thousands)	Beginning balance		Issuances	Settlements	Net (gains) losses (1)	Other comprehensive loss	Ending balance
Assets:
Investments – External Strategic Managers	$	142,976	—	—	5,592	—	$	148,568



Liabilities:
Preferred stock tranche liability	$	2,410	—	—	(1,000)	—	$	1,410
Business combination earn-out liability	$	15,268	—	—	(10,193)	—	$	5,075
EEA earn-out liability	$	25,259	—	—	1,067	—	$	26,326
Envoi earn-out consideration liability	$	8,220	—	—	(420)	—	$	7,800
Envoi earn-out growth consideration liability	$	1,620	—	—	(170)	—	$	1,450
Kontora earn-out liability	$	7,044	—	—	135	(155)	$	7,024
TRA liability	$	8,785	—	—	(201)	—	$	8,584


	As of December 31, 2025
(Dollars in Thousands)	Beginning balance		Issuances	Settlements	Net (gains) losses (1)	Other comprehensive income	Ending balance
Assets:
Investments – External Strategic Managers	$	147,568	—	—	(4,592)	—	$	142,976




Liabilities:
Preferred stock tranche liability	$	3,940	—	—	(1,530)	—	$	2,410
Business combination earn-out liability	$	23,848	—	—	(8,580)	—	$	15,268
EEA earn-out liability	$	29,871	—	(7,387)	2,775	—	$	25,259
Envoi earn-out consideration liability	$	9,600	—	(2,953)	1,573	—	$	8,220
Envoi earn-out growth consideration liability	$	1,320	—	—	300	—	$	1,620
Kontora earn-out liability	$	—	5,743	—	1,059	242	$	7,044
TRA liability	$	9,378	—	—	(593)	—	$	8,785

During the periods ended March 31, 2026 and December 31, 2025, there were no transfers from Level 3 to Level 1.

Valuation Methodologies for Fair Value Measurements Categorized within Level 3 as of March 31, 2026


(Dollars in Thousands)	Fair Value		Valuation Techniques	Unobservable Inputs	Ranges		Impact to Valuation from an Increase in Input
Level 3 Assets:
Investments – External Strategic Managers	$	148,568	Discounted Cash Flow	Discount rate	17.0% -30.0%		Lower
				Long-term growth rate	4.0	%	Higher



Level 3 Liabilities:
TRA liability	$	8,584	Monte Carlo	Volatility	60.0	%	Lower
				Correlation	22.5	%	Higher
				Cost of debt range	11.6% - 12.8%		Lower
				Equity risk premium	5.5% - 13.2%		Lower
Business Combination earn-out liability	$	5,075	Monte Carlo	Volatility	60.0	%	Higher
				Risk-free rate	3.8	%	Higher




EEA earn-out liability	$	26,326	Discounted Cash Flow	EBITDA Discount Rate	14.3	%	Lower
				Risk-free rate	3.8	%	Lower
				Credit spread	10.4	%	Lower
Envoi earn-out consideration liability	$	7,800	Discounted Cash Flow	Revenue risk-adjusted discount rate	11.5	%	Lower

				Risk-free rate	3.7	%	Lower
				Credit spread	10.1	%	Lower
Envoi earn-out growth consideration liability	$	1,450	Monte Carlo	Metric volatility	39.0	%	Lower
				Risk-free rate	3.7	%	Lower
				Revenue discount rate	11.5	%	Lower
				Credit Risk Adjusted Discount Rate	13.8	%	Lower
Kontora earn-out liability	$	7,024	Discounted Cash Flow	Discount rate	11.0	%	Lower



Preferred stock tranche liability	$	1,410	Binomial lattice model	Volatility	52.5	%	Lower
				Probability of option exercise	50.0	%	Higher
				Risk-free rate	4.9	%	Lower
				Credit spread	10.4	%	Lower

Valuation Methodologies for Fair Value Measurements Categorized within Level 3 as of December 31, 2025


(Dollars in Thousands)	Fair Value		Valuation Techniques	Unobservable Inputs	Ranges		Impact to Valuation from an Increase in Input
Level 3 Assets:
Investments – External Strategic Managers	$	142,976	Discounted Cash Flow	Discount rate	17.0% -30%		Lower
				Long-term growth rate	4.0	%	Higher



Level 3 Liabilities:
TRA liability	$	8,785	Monte Carlo	Volatility	55.0	%	Lower
				Correlation	22.5	%	Higher
				Cost of debt range	10.6% - 11.9%		Lower
				Equity risk premium	5.8% - 13.2%		Lower
Business Combination earn-out liability	$	15,268	Monte Carlo	Volatility	65.0	%	Higher
				Risk-free rate	3.5	%	Higher




EEA earn-out liability	$	25,259	Discounted Cash Flow	EBITDA Discount Rate	14.6	%	Lower
				Risk-free rate	3.5	%	Lower
				Credit spread	9.3	%	Lower
Envoi earn-out consideration liability	$	8,220	Discounted Cash Flow	Revenue risk-adjusted discount rate	11.0	%	Lower
				Risk-free rate	3.4	%	Lower
				Credit spread	9.1	%	Lower
Envoi earn-out growth consideration liability	$	1,620	Monte Carlo	Metric volatility	29.0	%	Lower
				Risk-free rate	3.4	%	Lower
				Revenue discount rate	11.0	%	Lower
				Credit Risk Adjusted Discount Rate	12.5	%	Lower
Kontora earn-out liability	$	7,044	Discounted Cash Flow	Discount rate	11.7	%	Lower

Preferred stock tranche liability	$	2,410	Binomial lattice model	Volatility	47.5	%	Lower
				Probability of option exercise	50.0	%	Higher
				Risk-free rate	4.8	%	Lower
				Credit spread	9.3	%	Lower

The carrying value of financial instruments not measured at fair value, which consists primarily of cash and restricted cash, approximates fair value.

The Company measures certain assets and liabilities at fair value on a non-recurring basis, such as assets acquired and liabilities assumed in a business combination.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Leases - Schedule of Weighted-average Remaining Lease Term And Discount Rate (Details)	Mar. 31, 2026	Dec. 31, 2025
Leases [Abstract]
Weighted-average remaining lease term (in years)	11 years 3 months 3 days	11 years 4 months 17 days
Weighted-average discount rate (in percent)	6.33%	6.31%

Debt, net of unamortized deferred financing cost - Narrative (Details) $ / shares in Units, $ in Thousands, £ in Millions							3 Months Ended
	Mar. 19, 2026 USD ($)	Mar. 19, 2026 GBP (£)	May 13, 2025 USD ($) $ / shares	Apr. 30, 2025 USD ($)	Mar. 13, 2025 USD ($)	Feb. 22, 2024 $ / shares shares	Mar. 31, 2026 USD ($) shares	Mar. 31, 2025 USD ($)	Mar. 31, 2026 GBP (£) shares	Dec. 31, 2025 USD ($)
Debt Instrument [Line Items]
Preferred stock tranche liability, at fair value							$ 1,410			$ 2,410
Gain (loss) on preferred stock tranche liability							1,000	$ 2,540
Settled Litigation
Debt Instrument [Line Items]
Litigation settlement	$ 15,000	£ 11.2			$ 5,100
Discontinued Operations, Disposed of by Means Other than Sale \| International Real Estate Segment \| Settled Litigation
Debt Instrument [Line Items]
Litigation settlement	$ 15,000	£ 11.2
Outstanding balance of settlement							$ 14,500		£ 11.0
Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Series A Preferred Stock \| Allianz Investment Agreement
Debt Instrument [Line Items]
Preferred stock, dividend rate, per-dollar amount (in dollars per share) \| $ / shares			$ 1,000
Proceeds from issuance of preferred stock and Constellation Warrants			$ 18,500
Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Tranche Right \| Series A Preferred Stock \| Allianz Investment Agreement
Debt Instrument [Line Items]
Number of securities called by warrants or rights (in shares) \| shares						50,000	18,471		18,471
Preferred stock, dividend rate, per-dollar amount (in dollars per share) \| $ / shares						$ 1,000
Secured Debt \| Kontora Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Fixed quarterly installments				$ 100
Interest rate (in percent)				6.70%
Economic equity required				$ 1,800
Economic equity required (in percent)				30.00%
Revolving Credit Facility \| Kontora Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 900
Revolving Credit Facility \| Kontora Credit Facility \| Line of Credit \| Euro Interbank Offered Rate (EURIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)				7.15%
Revolving Credit Facility \| Kontora Credit Facility \| Line of Credit \| Base rate
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)				0.75%

Equity-Based Compensation

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Equity-Based Compensation

The Company grants equity-based compensation awards in the form of restricted share units (“RSUs”) or performance restricted share units (“PRSUs”) for Class A Common Stock to its management, employees, consultants, and independent members of the Board under its 2023 Stock Incentive Plan (the “Plan”). The total number of shares of Class A Common Stock that may be issued under the Plan is 20,798,132, of which 3,157,641 remain available as of March 31, 2026. To the extent that an award expires or is canceled, forfeited, terminated, surrendered, exchanged or withheld to cover tax withholding obligations, the unissued awards will again be available for grant under the Plan.

The Company recognizes equity-based compensation expenses at the Company’s stock price as of the grant date. As of March 31, 2026, the Company has unrecognized equity-based compensation expense of $22.2 million, which is expected to be recognized over a weighted average period of 1.82 years.

The following table summarizes the equity-based compensation award activity for the three months ended March 31, 2026, and March 31, 2025:


	March 31, 2026			March 31, 2025
	Number of Awards	Weighted Average Grant Date Fair Value		Number of Awards	Weighted Average Grant Date Fair Value
Restricted common stock
Restricted common stock awards outstanding at beginning of period	11,428,887	$	4.23	6,216,514	$	4.86
Restricted common stock granted	2,820,485	4.05		2,772,576	3.45
Restricted common stock forfeited	(5,149)	3.86		(18,269)	4.76
Restricted common stock vested	(3,087,256)	4.21		(2,032,623)	4.60
Restricted common stock awards outstanding at end of period	11,156,967	$	4.19	6,938,198	$	4.38


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2026		March 31, 2025
RSUs	$	7,838	$	3,382
PRSUs	600		1,396
Acquisition-related	665		1,517

Revenue share	120		271
Deferred compensation	1,795		870
Accrued compensation	2,619		—
Total	$	13,638	$	7,436

Debt, net of unamortized deferred financing cost

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Debt, net of unamortized deferred financing cost

The following table summarizes outstanding debt obligations of the Company as of March 31, 2026 and December 31, 2025:


	As of March 31, 2026						As of December 31, 2025
(Dollars in Thousands)	Debt Outstanding		Net Carrying Value (1)		Fair Value		Debt Outstanding		Net Carrying Value (1)		Fair Value
Administrators Term Loan	$	14,510	$	14,639	$	14,639	$	—	$	—	$	—
Kontora Credit Facility
Term Loan	410		410		410		503		503		503
Revolving Line of Credit	—		—		—		380		380		380
Total Debt	$	14,920	$	15,049	$	15,049	$	883	$	883	$	883

(1) The carrying value of the Term Loans and Revolving Line of Credit approximates fair value as of March 31, 2026 and December 31, 2025.

Administrators Term Loan

On March 19, 2026, the Company and certain of its affiliates on the one hand and the International Real Estate Businesses and the Administrators on the other hand entered into a binding settlement and intercompany loan deed memorializing the terms of the settlement. The settlement amount of £11.2 million ($15.0 million) is noninterest bearing and paid in installments through November 2027. As of March 31, 2026, the outstanding balance of the settlement was $14.5 million. See Note 3 Discontinued Operations for further details.

Kontora Credit Facility

On April 30, 2025, the Company acquired Kontora. See Note 4 (Business Combinations). At the acquisition date, Kontora had a term loan with HypoVereinsbank. The term loan is repayable in fixed quarterly installments of $0.1 million plus interest, with the final payment due on June 30, 2027. The term loan bears interest at 6.7% per annum which is payable quarterly. Throughout the period of the loan Kontora Family Office GmbH, as a

standalone entity, is required to maintain economic equity of the higher of $1.8 million or 30% of the total assets of this standalone entity.

At the acquisition date, Kontora also had a revolving line of credit, which expires on July 25, 2029, with an aggregate borrowing facility of $0.9 million with HypoVereinsbank. The revolving line of credit bears interest at 3-month EURIBOR plus 7.15% on funded amounts and a commitment fee of 0.75% on unfunded amounts. The funded amounts bear no restrictions on its use.

Contractual maturities of the Administrators Term Loan and Term Loan as of March 31, 2026, are set out in the table below:


(Dollars in Thousands)	Administrators Term Loan		Kontora Term Loan		Aggregate Maturities


2026	$	8,145	$	246	$	8,391
2027	6,365		164		6,529


Total	$	14,510	$	410	$	14,920

Allianz Tranche Right

The Company issued the Allianz Tranche Right in which Allianz, at their option, can purchase up to a total of 50,000 additional shares of Series A Preferred Stock at $1,000 per share. On May 13, 2025, Allianz exercised the Allianz Tranche Right to purchase an additional 18,471 shares of Series A Preferred Stock at the stated price for $18.5 million. As of March 31, 2026 and December 31, 2025, the Allianz Tranche Right of $1.4 million and $2.4 million, respectively, is classified as a liability in accordance with ASC 480, Liabilities, and is recorded in the line item Preferred stock tranche liability on the Company’s Condensed Consolidated Statements of Financial Position. For the three months ended March 31, 2026 and March 31, 2025, the change in fair value of the Allianz Tranche Right is $1.0 million and $2.5 million, respectively, which is recorded in the line item Gain (loss) on preferred stock liability in the Condensed Consolidated Statements of Operations.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Fair Value Disclosures - Schedule of Assets and Liabilities Measured At Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets:
Investments at fair value	$ 149,741	$ 144,196
Total	149,741	144,196
Liabilities:
Preferred stock tranche liability	1,410	2,410
Earn-out liabilities	47,675	57,411
TRA liability	8,584	8,785
Derivative liability	57,669	68,606
Mutual funds
Assets:
Investments at fair value	38	42
Exchange-traded funds and BDC funds
Assets:
Investments at fair value	37	35
Investments – External Strategic Managers
Assets:
Investments at fair value	148,568	142,976
Investments – Affiliated Funds
Assets:
Investments at fair value	$ 1,092	$ 1,080
Liabilities:
Redemption, required notice (in days)	30 days	30 days
Other
Assets:
Investments at fair value	$ 6	$ 63
Level 1
Assets:
Total	81	83
Liabilities:
Preferred stock tranche liability	0	0
Earn-out liabilities	0	0
TRA liability	0	0
Derivative liability	0	0
Level 1 \| Mutual funds
Assets:
Investments at fair value	38	42
Level 1 \| Exchange-traded funds and BDC funds
Assets:
Investments at fair value	37	35
Level 1 \| Investments – External Strategic Managers
Assets:
Investments at fair value	0	0
Level 1 \| Investments – Affiliated Funds
Assets:
Investments at fair value	0	0
Level 1 \| Other
Assets:
Investments at fair value	6	6
Level 2
Assets:
Total	0	57
Liabilities:
Preferred stock tranche liability	0	0
Earn-out liabilities	0	0
TRA liability	0	0
Derivative liability	0	0
Level 2 \| Mutual funds
Assets:
Investments at fair value	0	0
Level 2 \| Exchange-traded funds and BDC funds
Assets:
Investments at fair value	0	0
Level 2 \| Investments – External Strategic Managers
Assets:
Investments at fair value	0	0
Level 2 \| Investments – Affiliated Funds
Assets:
Investments at fair value	0	0
Level 2 \| Other
Assets:
Investments at fair value	0	57
Level 3
Assets:
Total	148,568	142,976
Liabilities:
Preferred stock tranche liability	1,410	2,410
Earn-out liabilities	47,675	57,411
TRA liability	8,584	8,785
Derivative liability	57,669	68,606
Level 3 \| Mutual funds
Assets:
Investments at fair value	0	0
Level 3 \| Exchange-traded funds and BDC funds
Assets:
Investments at fair value	0	0
Level 3 \| Investments – External Strategic Managers
Assets:
Investments at fair value	148,568	142,976
Level 3 \| Investments – Affiliated Funds
Assets:
Investments at fair value	0	0
Level 3 \| Other
Assets:
Investments at fair value	$ 0	$ 0

Intangible Assets, net (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

The following table provides a reconciliation of Intangible assets, net reported on the Condensed Consolidated Statements of Financial Position.


	As of March 31, 2026
(Dollars in Thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount (2)		Accumulated Amortization		Net Carrying Amount

Amortizing intangible assets
Customer relationships	22.1	$	289,778	$	(36,886)	$	252,892

Trade names	9.4	12,235		(4,177)		8,058
License	15	4,444		(271)		4,173
Acquired internally developed software	5	700		(520)		180
Other intangible asset	2	680		(669)		11
Total amortized intangible assets		307,837		(42,523)		265,314
Non-amortized intangible assets (1)
Other intangible asset		4		—		4
Investment management agreements		166,000		—		166,000
Total non-amortized intangible assets		166,004		—		166,004

Total intangible assets		$	473,841	$	(42,523)	$	431,318

(1) The Company’s non-amortized intangible assets consist of management contracts for open-ended fund products and other intangible assets related to domain names and other software, for which there is no contractual termination date.

(2) During the three months March 31, 2026, gross carrying amounts related to the Company’s intangible assets include foreign currency translation differences of $(0.7) million.


	As of December 31, 2025
(Dollars in Thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount (2)		Impairment/Disposals		Accumulated Amortization		Net Carrying Amount

Amortizing intangible assets
Customer relationships	22.0	$	290,419	$	—	$	(33,235)	$	257,184

Trade names	9.3	12,238		—		(3,828)		8,410
License	15.0	4,535		—		(195)		4,340
Acquired internally developed software	5.0	1,300		(600)		(505)		195
Other intangible asset	1.5	680		—		(656)		24
Total amortized intangible assets		309,172		(600)		(38,419)		270,153
Non-amortized intangible assets (1)
Other intangible assets		4		—		—		4
Investment management agreements (3)		201,000		(35,000)		—		166,000
Total non-amortized intangible assets		201,004		(35,000)		—		166,004

Total intangible assets		$	510,176	$	(35,600)	$	(38,419)	$	436,157

(2) During the year ended December 31, 2025, gross carrying amounts related to the Company’s intangible assets include additions to intangibles of $14.8 million and purchase price adjustments of $(0.7) million (see Note 4 (Business Combinations)) related to the Kontora Acquisition, as well as foreign currency translation differences of $4.1 million.

(3) During the quarter ended September 30, 2025, the Company recognized an impairment of $35.0 million related to TIG’s Investment Management Agreement (“IMA”), which is classified as an indefinite-lived intangible asset. Drivers of the impairment for the IMA include the financial projections and discount rate.

Schedule of Estimated Future Amortization

The estimated future amortization for finite-lived intangible assets for each of the next five years and thereafter are as follows:


(Dollars in Thousands)	As of March 31, 2026

2026	$	12,280
2027	16,367
2028	16,320
2029	16,044
2030 and beyond	204,303
Total	$	265,314

Revenue (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table represents the Company’s revenue disaggregated by fee type for the periods presented below:


	For the Three Months Ended
(Dollars in Thousands)	March 31, 2026		March 31, 2025

Management/advisory fees	$	51,895	$	44,775
Incentive fees	(89)		96
Distributions from investments	21,268		12,210
Other fees/income	31		6
Total revenue	$	73,105	$	57,087

Schedule of Contract with Customer


(Dollars in Thousands)	As of March 31, 2026		As of December 31, 2025

Management/advisory fees receivable
Beginning balance	$	35,047	$	28,896
Ending balance (1)	34,083		35,047

Incentive fees receivable
Beginning balance	$	30,335	$	1,324
Ending balance (2)	287		30,335

Other fees/income receivable
Beginning balance	$	189	$	—
Ending balance	—		189

Deferred management/advisory fees
Beginning balance	$	—	$	—
Ending balance	(317)		—

Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Future Minimum Rental Operating Leases
2026	$ 6,353
2027	9,028
2028	8,484
2029	7,204
2030	6,442
2031 and beyond	49,603
Total lease payments	87,114
Less: Imputed interest	26,333
Present value of lease liabilities	$ 60,781

Fair Value Disclosures - Narrative (Details)	May 13, 2025 $ / shares
Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Series A Preferred Stock \| Allianz Investment Agreement
Class of Stock [Line Items]
Preferred stock, dividend rate, per-dollar amount (in dollars per share)	$ 1,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Debt, net of unamortized deferred financing cost - Contractual Maturities of the Term Loans (Details) - Line of Credit - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Aggregate Maturities
Total	$ 14,920	$ 883
Secured Debt
Aggregate Maturities
2026	8,391
2027	6,529
Total	14,920
Secured Debt \| Administrators Term Loan
Aggregate Maturities
2026	8,145
2027	6,365
Total	14,510	0
Secured Debt \| Kontora Term Loan
Aggregate Maturities
2026	246
2027	164
Total	$ 410	$ 503

Business Combinations

3 Months Ended

Mar. 31, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Business Combinations

Acquisition of Kontora Family Office GmbH

On April 30, 2025 (the “Kontora Acquisition Date”), the Company acquired all of the outstanding ownership interests of Kontora Family Office GmbH (“Kontora”) (the “Kontora Acquisition”). Kontora is a multi-family office and asset management company headquartered in Hamburg, Germany, focused on UHNW families, entrepreneurs and select institutions. This acquisition expanded the Company’s presence in Europe through entry into the key wealth hub of Germany, which represents the third largest UHNW market in the world.

The Kontora Acquisition met the requirements to be considered a business combination under ASC 805. The assets acquired and liabilities assumed from Kontora reflect the fair market values, affected for preliminary adjustments to reflect the fair market values assigned to assets purchased and liabilities assumed, and results of operations, are included in the Company’s condensed consolidated financial statements as of the Kontora Acquisition Date.

The Kontora Acquisition was accounted for using the acquisition method of accounting and the fair value of the total purchase consideration transferred was $15.7 million. Included in the total purchase consideration is contingent consideration of $5.7 million, comprised of the Kontora earn-out liability, for which the Company may be required to make additional cash payments tied to certain revenue streams acquired in the Kontora Acquisition between the Closing Date and December 31, 2035. The contingent consideration was measured at fair value at the Kontora Acquisition Date and recorded within the Earn-out liabilities, at fair value line item in the Condensed Consolidated Statements of Financial Position. In addition to the contingent consideration, the Company may be required to make additional compensatory payments comprised of a combination of cash and equity at the Company’s option based on Kontora’s adjusted EBITDA. The total purchase consideration is summarized below:


(Dollars in Thousands)	Amount
Initial purchase price	$	8,740
Settlement of debt	1,213
Contingent consideration	5,743
Total purchase consideration transferred	$	15,696

The following table sets forth the preliminary fair values of the assets acquired and liabilities assumed in connection with the Kontora Acquisition:


(Dollars in Thousands)	Kontora Acquisition Date Fair Value
Cash and cash equivalents	$	3,440
Fees receivable	2,702
Equity method investments	28
Intangible assets	14,075
Goodwill	981
Operating lease right-of-use assets	1,952
Deferred tax assets, net	1,451
Other assets, net	2,326
Total Assets Acquired	$	26,955
Accounts payable and accrued expenses	526
Accrued compensation and profit sharing	218
Debt, net of unamortized deferred financing cost	732
Operating lease liability	1,952
Deferred tax liability	4,774
Other liabilities, net	3,057
Total Liabilities Assumed	$	11,259
Total Assets Acquired and Liabilities Assumed	$	15,696

The purchase price allocation is preliminary and subject to change during the measurement period, which is not to exceed one year from the Kontora Acquisition Date. During the year ended December 31, 2025, the Company made a measurement period adjustment to the purchase price allocation, which resulted in a decrease to intangible assets of $0.7 million, an increase to goodwill of $0.4 million, a decrease to deferred tax liability of $0.3 million, an increase to other assets, net of $24.0 thousand and a decrease to the purchase consideration of $10.0 thousand. At this time we do not expect any additional material adjustments to the above allocations. When the valuation is final, changes to the valuation of acquired assets and liabilities could result in adjustments to identified intangibles and goodwill.

With the exception of operating right-of-use assets and operating lease liabilities accounted for under ASC 842, Leases, in accordance with ASC 805, the assets and liabilities were recorded at their respective fair values as of April 30, 2025. The Company developed the fair value of intangible assets, which includes trade names, customer relationships, and licenses granted by the German Federal Financial Supervisory Authority. Various techniques were applied to derive the fair values of the intangible assets including, but not limited to, relief from royalty method, excess earnings method, replacement cost method, and a discounted cash flow approach.

For all other major assets and liabilities acquired, the Company determined that book value approximated fair value. Goodwill is comprised of expected synergies for the combined operations and the assembled workforce acquired in the Kontora Acquisition, which does not qualify as a separately recognized intangible asset.

Below is a summary of the intangible assets acquired in the Kontora Acquisition:


(Dollars in Thousands)	Kontora Acquisition Date Fair Value		Estimated Life (Years)
Brand	$	187	3
License	4,385		15
Customer relationships	9,443		15
Software	60		3
Total Intangible Assets	$	14,075

The results of operations for Kontora have been included in the Company’s condensed consolidated financial statements as of the Kontora Acquisition Date.

Supplemental Pro Forma Financial Information (Unaudited)

The following selected unaudited supplemental pro forma financial information is a summary of our combined results for Kontora as of the three months ended March 31, 2025. The unaudited supplemental pro forma financial information gives effect to the Kontora acquisition as if it had occurred on January 1, 2025.

The unaudited pro forma financial information presented below is for informational purposes only, and is not necessarily indicative of the results that would have been achieved if the acquisition had taken place on the first of the year in which Kontora was acquired, nor is it indicative of future results.



(Dollars in Thousands)	March 31, 2025
Total revenue	$	62,401
Net income (loss)	$	1,500

- Definition

The entire disclosure for business combination.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-8

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 38
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-38

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 46
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-46

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 43
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-43

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 45
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-45

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 29
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-29

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 29
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-29

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-4

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 40
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479326/805-40-45-1

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805-30/tableOfContent

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805-20/tableOfContent

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-7

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-5

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805-10/tableOfContent

+ Details

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash Flows from Operating Activities
Net income (loss)	$ 8,390	$ (2,882)
Net income (loss) from discontinued operations, net of tax	0	(6,919)
Net income (loss) from continuing operations	8,390	4,037
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities from continuing operations:
Depreciation and amortization	4,706	4,349
Unrealized (gain) loss on investments	(5,609)	1,678
Realized (gain) loss on investments	0	2,525
Fair value (gain) loss on TRA	(201)	(304)
Fair value (gain) loss on earnout liability	(9,581)	(12,583)
Fair value gain (loss) on preferred stock tranche liability	(1,000)	(2,540)
Deferred income tax (benefit) expense	(1,445)	(1,942)
Equity-settled share-based payments	8,111	7,342
(Increase) decrease in fees receivable	31,133	(40)
(Increase) decrease in other assets	2,929	(2,022)
Operating cash flow from operating leases	69	874
Increase (decrease) in accounts payable and accrued expenses	(7,384)	(6,248)
Increase (decrease) in accrued compensation and profit sharing	(25,643)	(22,677)
Increase (decrease) in other liabilities	783	(2,861)
Net cash provided by (used in) operating activities from continuing operations	5,311	(30,356)
Cash Flows from Investing Activities
Purchases of investments	(10)	(26)
Sales of investments	10	170
Proceeds from Pointwise warehousing transaction	0	20,449
Loss on disposal of intangible assets	0	(9)
Purchases of fixed assets	0	(782)
Net cash provided by investing activities from continuing operations	0	19,802
Cash Flows from Financing Activities
Payments on term notes and lines of credit	(818)	0
Repurchase of common stock	(5,691)	(2,838)
Net cash used in financing activities from continuing operations	(6,509)	(2,838)
Cash Flows from Discontinued Operations:
Net cash provided by (used in) operating activities from discontinued operations	0	188
Net cash provided by (used in) investing activities from discontinued operations	0	115
Net cash provided by discontinued operations	0	303
Net increase (decrease) in cash and cash equivalents, including discontinued operations	(1,198)	(13,089)
Effect of exchange rate changes on cash and cash equivalents, including discontinued operations	(245)	436
Cash and cash equivalents, including discontinued operations, at beginning of the period	41,158	65,494
Cash and cash equivalents, including discontinued operations, at end of the period	39,715	52,841
Cash and cash equivalents	39,715	52,841
Reconciliation of balance sheet cash and cash equivalents to cash flows:
Cash and cash equivalents on balance sheet	39,715	51,611
Cash and cash equivalents included in Assets held for sale	0	1,230
Cash and cash equivalents, including cash in Assets held for sale	39,715	52,841
Supplemental Disclosure of Cash Flow Information
Income taxes	155	199
Interest payments on term notes and lines of credit	14	0
Shareholder Loan
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities from continuing operations:
Forgiveness of debt shareholder loan	$ 53	$ 56

Condensed Consolidated Statement of Changes in Mezzanine Equity and Shareholders’ Equity (Unaudited) - USD ($) $ in Thousands	Total	Treasury Stock	Additional paid-in-capital	Retained earnings (accumulated deficit)	Accumulated other comprehensive income	Non-controlling interest in subsidiaries	Series A Preferred Stock	Series C Preferred Stock	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock	Class B Common Stock Common Stock
Beginning balance (in shares) at Dec. 31, 2024							140,000	150,000
Beginning balance at Dec. 31, 2024							$ 142,858	$ 160,808
Mezzanine Equity
Preferred share accrued dividend							$ 1,760	$ 3,953
Ending balance (in shares) at Mar. 31, 2025							140,000	150,000
Ending balance at Mar. 31, 2025							$ 144,618	$ 164,761
Beginning balance (in shares) at Dec. 31, 2024										93,686,980		46,138,876
Beginning balance at Dec. 31, 2024	$ 970,195	$ 0	$ 652,857	$ (296,561)	$ (1,569)	$ 311,793				$ 9		$ 0
Shareholders’ Equity
Net income (loss)	(2,882)			1,910		(4,792)
Currency translation adjustment	3,249				2,403	846
Other comprehensive income	(24)				(17)	(7)
Tax allocation to equity holders	(84)			(2,092)	(58)	2,066
Sale of investment	234					234
Preferred share accrued dividend (in shares)										2,413,060
Preferred share accrued dividend	0		(5,713)
Issuance of shares for business combination	1,298		1,298
Share based compensation	4,559		4,559
TRA Exchange (in shares)										1,028,652		(1,028,652)
TRA Exchange	(1,005)		1,587			(2,592)
Repurchase of shares	(2,838)	(2,838)
Ending balance (in shares) at Mar. 31, 2025										97,128,692		45,110,224
Ending balance at Mar. 31, 2025	972,702	(2,838)	654,588	(296,743)	759	307,548				$ 9		$ 0
Beginning balance (in shares) at Dec. 31, 2025							168,934	150,000
Beginning balance at Dec. 31, 2025							$ 168,934	$ 176,904
Mezzanine Equity
Preferred share accrued dividend							$ 2,059	$ 4,312
Ending balance (in shares) at Mar. 31, 2026							168,934	150,000
Ending balance at Mar. 31, 2026							$ 170,993	$ 181,216
Beginning balance (in shares) at Dec. 31, 2025									103,330,156	103,330,155	44,188,561	44,188,561
Beginning balance at Dec. 31, 2025	874,789	0	667,298	(418,015)	4,975	274,683				$ 10		$ 0
Shareholders’ Equity
Net income (loss)	8,390			7,704		686
Currency translation adjustment	1,765				1,286	479
Other comprehensive income	0
Prior period tax true-ups	191				134	57
Preferred share accrued dividend	0		(6,371)
Share based compensation (in shares)										3,154,435
Share based compensation	8,111		8,111
TRA Exchange (in shares)										3,314,794		(3,314,794)
TRA Exchange	(5,031)		7,064			(12,095)
Repurchase of shares	(5,691)	(5,691)
Ending balance (in shares) at Mar. 31, 2026									109,799,384	109,799,384	40,873,767	40,873,767
Ending balance at Mar. 31, 2026	$ 882,524	$ (5,691)	$ 676,102	$ (410,311)	$ 6,395	$ 263,810				$ 10		$ 0

Leases - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Operating Lease [Line Items]
Operating lease expense	$ 2,389	$ 3,212
Variable lease expense	501	620
Short-term lease expense	22	45
Total lease expense	2,912	3,877
Related party
Operating Lease [Line Items]
Operating lease expense	$ 100	$ 100

Condensed Consolidated Statement of Financial Position (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
TRA liability	$ 8,584	$ 8,785
Preferred stock, issued (in shares)	150,000
Treasury stock (in shares)	1,300,341	0
Series A Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	795,947	795,947
Preferred stock, issued (in shares)	168,934	168,934
Preferred stock, outstanding (in shares)	168,934	168,934
Series C Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	150,000	150,000
Preferred stock, issued (in shares)	150,000	150,000
Preferred stock, outstanding (in shares)	150,000	150,000
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	875,000,000	875,000,000
Common stock, issued (in shares)	109,799,384	103,330,156
Common stock, outstanding (in shares)	109,799,384	103,330,156
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, issued (in shares)	40,873,767	44,188,561
Common stock, outstanding (in shares)	40,873,767	44,188,561
Class C Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	9,000,000	9,000,000
Common stock, issued (in shares)	0	0
Common stock, outstanding (in shares)	0	0
Fees receivable, net
Contract with customer, receivable	$ 34,370	$ 65,571
Fees receivable, net \| Related party
Contract with customer, receivable	$ 651	$ 9,535

Equity	3 Months Ended
Equity	Mar. 31, 2026
Equity [Abstract]
Equity	Equity Class A Common Stock As of March 31, 2026 and December 31, 2025, there were 109,799,384 and 103,330,156, respectively, shares of Class A Common Stock outstanding. Of those shares, 754,968 are subject to performance targets under the terms of the Business Combination Earn-out as of both March 31, 2026 and December 31, 2025. The holders of the Class A Common Stock represent the controlling interest of the Company. Class B Common Stock Upon the Closing of the Business Combination, the Company issued shares of Class B Common Stock to the holders of Class B Units. The Class B Common Stock has no economic rights but entitles each holder of at least one such share (regardless of the number of shares so held) to a number of votes that is equal to the aggregate number of Class B Units held by such holders on all matters on which shareholders of the Company are entitled to vote generally. As of March 31, 2026 and December 31, 2025, there were 40,873,767 and 44,188,561, respectively, shares of Class B Common Stock outstanding. Treasury Stock From time to time, the Company may repurchase common shares related to its equity-based compensation award programs. During the first quarter ended March 31, 2026 the Company reissued, from Treasury Stock, 1,300,341 shares of Class A Common Stock which were repurchased and classified as Treasury Stock on the Condensed Consolidated Statements of Financial Position, in the amount of $5.7 million. Treasury Stock was recorded at cost, representing the market price on the repurchase date, and was accounted for as a reduction of Additional Paid-in Capital. Series A Preferred Stock As part of the Allianz Transaction, the Company issued 140,000 shares of Series A Preferred Stock to Allianz, which is classified outside of permanent equity as mezzanine equity in the accompanying Condensed Consolidated Statements of Financial Position as they are not mandatorily redeemable as of March 31, 2026. As of March 31, 2026, the Series A Preferred Stock totals 168,934 shares, which is inclusive of dividends paid in kind. Series C Preferred Stock In connection with the Constellation Transaction, the Company issued 150,000 shares of Series C Preferred Stock to Constellation. The Series C Preferred Stock is classified outside of permanent equity as mezzanine equity in the accompanying Condensed Consolidated Statements of Financial Position as they are not mandatorily redeemable as of March 31, 2026. Allianz and Constellation Warrants In connection with the Constellation and Allianz Transactions, the Company evaluated the Constellation and Allianz Warrants in accordance with ASC 815-40, Contracts in an Entity’s Own Equity, and concluded that the warrants are derivatives that meet the equity classification criteria. As of both March 31, 2026 and December 31, 2025, the Constellation and Allianz Warrants of $9.6 million are recorded as a component of equity net of issuance costs in the line item Additional paid-in capital on the Company’s Condensed Consolidated Statements of Financial Position.

- Definition

The entire disclosure for equity.

+ References

+ Details

Earnings Per Share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Earnings Per Share

For the Three Months Ended

March 31, 2026

March 31, 2025

Basic

Diluted

Basic

Diluted

Class A Common Stock

Included

Class B Common Stock (1)

Excluded

If-converted method

Excluded

If-converted method

Series A Preferred Stock (2)

Two-class method

More dilutive of two-class method or if-converted method

Two-class method

More dilutive of two-class method or if-converted method

Series C Preferred Stock (2)

Two-class method

More dilutive of two-class method or if-converted method

Two-class method

More dilutive of two-class method or if-converted method

Allianz Tranche Right(3)

Excluded

If-converted method

Excluded

If-converted method

Allianz Warrants(4)

Excluded

Treasury stock method

Excluded

Treasury stock method

Constellation Warrants(4)

Excluded

Treasury stock method

Excluded

Treasury stock method

Earn-Out Shares(5)

Excluded

Treasury stock method

Excluded

Treasury stock method

PW Deferred Consideration Shares(6)

—

Included

Acquisition-Related Awards(7)

Excluded

Included

Excluded

Included

Unvested RSUs(8)

Excluded

Treasury stock method

Excluded

Treasury stock method

Unvested PRSUs (8)

Excluded

Treasury stock method

Excluded

Treasury stock method

2025, the warrants were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive.


	For the Three Months Ended
(Dollars in Thousands, except share data)	March 31, 2026		March 31, 2025
Numerator:
Net income (loss) from continuing operations	$	8,390	$	4,037
Net income (loss) attributable to noncontrolling interests in subsidiaries from continuing operations	686		(4,792)
Net income (loss) attributable to AlTi Global Inc	$	7,704	$	8,829
Less: Preferred stock dividends	(6,371)		(5,661)
Less: Undistributed earnings allocated to participating securities	(596)		(1,510)
Income (loss) from continuing operations available to Class A shareholders - basic	$	737	$	1,658
Dilutive effect of Class B Common Stock	—		(4,792)
Dilutive effect of Earn-Out Shares	—		(343)
Income (loss) from continuing operations available to Class A shareholders - diluted	$	737	$	(3,477)

Denominator:
Weighted-average shares of Class A Common Stock outstanding - basic	105,021,861		94,883,803
Dilutive effect of Class B Common Stock	—		49,069,963
Dilutive effect of Earn-Out Shares	—		3,210,302
Dilutive effect of Stock Awards	3,778,975		—
Dilutive effect of Acquisition-Related Awards	2,077,533		—
Weighted-average shares of Class A Common Stock outstanding - diluted	110,878,369		147,164,068
Income (loss) from continuing operations per Class A Common Stock - basic	$	0.01	$	0.02
Income (loss) from continuing operations per Class A Common Stock - diluted	$	0.01	$	(0.02)


	For the Three Months Ended
	March 31, 2026	March 31, 2025
Class B Common Stock and Class B Units	46,256,309	—

Allianz and Constellation Warrants	7,000,000	7,000,000
Preferred Stock	40,483,820	35,556,939
Earn-Out Shares	15,359,014	10,825,746

Acquisition-Related Awards	264,380	2,418,340
Stock Awards	—	3,624,166

Intangible Assets, net

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, net

The following table provides a reconciliation of Intangible assets, net reported on the Condensed Consolidated Statements of Financial Position.


	As of March 31, 2026
(Dollars in Thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount (2)		Accumulated Amortization		Net Carrying Amount

Amortizing intangible assets
Customer relationships	22.1	$	289,778	$	(36,886)	$	252,892

Trade names	9.4	12,235		(4,177)		8,058
License	15	4,444		(271)		4,173
Acquired internally developed software	5	700		(520)		180
Other intangible asset	2	680		(669)		11
Total amortized intangible assets		307,837		(42,523)		265,314
Non-amortized intangible assets (1)
Other intangible asset		4		—		4
Investment management agreements		166,000		—		166,000
Total non-amortized intangible assets		166,004		—		166,004

Total intangible assets		$	473,841	$	(42,523)	$	431,318

(2) During the three months March 31, 2026, gross carrying amounts related to the Company’s intangible assets include foreign currency translation differences of $(0.7) million.


	As of December 31, 2025
(Dollars in Thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount (2)		Impairment/Disposals		Accumulated Amortization		Net Carrying Amount

Amortizing intangible assets
Customer relationships	22.0	$	290,419	$	—	$	(33,235)	$	257,184

Trade names	9.3	12,238		—		(3,828)		8,410
License	15.0	4,535		—		(195)		4,340
Acquired internally developed software	5.0	1,300		(600)		(505)		195
Other intangible asset	1.5	680		—		(656)		24
Total amortized intangible assets		309,172		(600)		(38,419)		270,153
Non-amortized intangible assets (1)
Other intangible assets		4		—		—		4
Investment management agreements (3)		201,000		(35,000)		—		166,000
Total non-amortized intangible assets		201,004		(35,000)		—		166,004

Total intangible assets		$	510,176	$	(35,600)	$	(38,419)	$	436,157

Amortization expense of $4.1 million and $3.8 million for the three months ended March 31, 2026 and March 31, 2025, respectively, was recognized.

The estimated future amortization for finite-lived intangible assets for each of the next five years and thereafter are as follows:


(Dollars in Thousands)	As of March 31, 2026

2026	$	12,280
2027	16,367
2028	16,320
2029	16,044
2030 and beyond	204,303
Total	$	265,314

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Tax Receivable Agreement Pursuant to the TRA, the Company will pay certain parties to the Business Combination 85% of certain tax benefits, if any, that it realizes (or in certain cases is deemed to realize) as a result of any increase in tax basis of the assets of Umbrella related to the Business Combination. Amounts payable under the TRA are contingent upon (i) the generation of taxable income in the Company over the life of the TRA, (ii) the tax rates in effect as of time periods in which tax benefits are used, and (iii) certain terms governing the rate of interest to be applied to payments under the TRA. As of March 31, 2026 and December 31, 2025, the liability associated with the TRA was approximately $30.6 million and $25.7 million, respectively. Payments under the TRA that are on account of liabilities arising in connection with the Business Combination will be revalued at the end of each reporting period with the gain or loss recognized in earnings. As of March 31, 2026 and December 31, 2025, the Company carried $8.6 million and $8.8 million, respectively, of its TRA liability at fair value, as it is contingent consideration from the Business Combination. The remaining portion of the TRA liability is carried at a value equal to the expected future payments under the TRA. In connection with the TRA, certain parties to the Business Combination who received Class B Units in Umbrella have the ability to exchange Class B Units in Umbrella (along with their paired shares of Class B Common Stock) for shares of Class A Common Stock in the Company on a 1:1 exchange basis. These future exchanges are anticipated to be treated as taxable exchanges which may provide an increase in the tax basis of the assets of the Company and therefore provide for additional payments under the TRA. TRA liabilities that are generated on account of future exchanges will be recorded under ASC 450, Contingencies. As of March 31, 2026, holders of Class B Units have exchanged a total of 14,159,194 Class B Paired Interests with the Company, for shares of Class A Common Stock on a 1:1 basis totaling an amount equal to the weighted average price of $5.21 multiplied by the total number of shares of Class A Common Stock received at the time of the transactions. Payments under the TRA will continue until all such tax benefits have been utilized or expired unless (i) the Company exercises its right to terminate the TRA and pays recipients an amount representing the present value of the remaining payments, (ii) there is a change of control or (iii) the Company breaches any of the material obligations of the TRA, in which case all obligations will generally be accelerated and due as if the Company had exercised its right to terminate the TRA. In each case, if payments are accelerated, such payments will be based on certain assumptions, including that the Company will have sufficient taxable income to fully utilize the deductions arising from the increased tax deductions. As of March 31, 2026, assuming no material changes in the relevant tax laws and that the Company generates sufficient taxable income to realize the full tax benefit of the increased amortization resulting from the increase in tax basis of certain of AlTi’s assets, we expect to pay approximately $30.6 million under the TRA. Future changes in the fair value of the TRA liability will be recognized in earnings. Any future cash savings and related payments under the TRA due to subsequent exchanges of Class B Paired Interests for shares of Class A Common Stock would be accounted for separately from the amount related to the Business Combination. Business Combination Earn-out Liability Under the terms of the Business Combination, upon Closing, the Sponsor and the selling shareholders of TWMH, TIG, and Alvarium became entitled to receive earn-out shares contingent on various share price milestones. Additionally, upon a change of control of the Company, the share price milestones will be deemed to have been met and all the Business Combination Earn-out Securities will be payable to the earn-out holders. The earn-out shares are precluded from being considered indexed to the Company’s own stock and are recognized as a liability at fair value with changes in fair value recognized in earnings. The Business Combination Earn-out Securities, comprised of 3.3 million Class A Shares, 7.1 million shares of Class B Common Stock, and 7.1 million Class B Units (one Class B share and one Class B Unit comprising a Paired Interest), are payable to the Sponsor and the selling shareholders of TWMH, TIG, and Alvarium upon the achievement of certain vesting conditions in accordance with the terms of the Business Combination Agreement. Upon the Company’s Class A Share price meeting a volume-weighted average price threshold of $12.50 for 20 out of 30 trading days within five years of the Closing, fifty percent of the Business Combination Earn-out Securities will vest and be issued in settlement of the Business Combination Earn-out Liability (or, in the case of the Sponsor, which shares have already been issued, will no longer be subject to forfeiture). Upon the Company’s Class A Share price meeting a volume-weighted average price threshold of $15.00 for 20 out of 30 trading days within five years of the Closing, the remaining fifty percent of the Business Combination Earn-out Securities will vest and be issued. If, within five years of the Closing, a change of control event occurs (as defined in the Business Combination Agreement), any Business Combination Earn-out Securities not previously issued will be deemed to have vested and will be issued (or, in the case of the Sponsor, which shares have already been issued, will no longer be subject to forfeiture). As of March 31, 2026 and December 31, 2025, the fair value of the earn-out shares was $5.1 million and $15.3 million, respectively, is reported in Earn-out liabilities, at fair value, in the Consolidated Statements of Financial Position. EEA Earn-out Liability On April 1, 2024, the Company acquired all of the issued and outstanding ownership and membership interests of EEA. The EEA Acquisition was accounted for using the acquisition method of accounting and the fair value of the total purchase consideration transferred was $93.1 million. The total purchase consideration transferred includes estimated contingent consideration of $23.3 million, for which the Company may be required to make additional cash payments contingent on the future EBITDA performance targets between the closing date and the fifth anniversary of the closing date. As of March 31, 2026 and December 31, 2025, the EEA earn-out liability of $26.3 million and $25.3 million, respectively, is reported in Earn-out liabilities, at fair value, in the Condensed Consolidated Statements of Financial Position. Pointwise Deferred Consideration On May 9, 2024, AlTi acquired the remaining 50% of the issued and outstanding ownership and membership interest of PW, increasing its interest from 50% to 100%. The PW Acquisition was accounted for using the acquisition method of accounting and the fair value of the total purchase consideration was $8.0 million. The total purchase consideration transferred includes cash consideration, equity consideration and estimated deferred consideration of $3.3 million. The deferred consideration was paid during the three months ended March 31, 2025, in cash and equity totaling $3.4 million. Envoi Earn-out Liability On July 1, 2024, the Company purchased substantially all of the assets of Envoi pursuant to the terms of the Envoi Acquisition. The Envoi Acquisition was accounted for using the acquisition method of accounting and the fair value of the total purchase consideration transferred was $34.3 million. The total purchase consideration transferred includes estimated contingent consideration totaling $9.0 million as of the acquisition date, which is comprised of the Envoi earn-out consideration liability and the Envoi earn-out growth consideration liability, for which the Company may be required to pay additional cash or equity consideration contingent on future revenue-based performance targets between the closing date and the fourth anniversary of the closing date. As of March 31, 2026 and December 31, 2025, the Envoi earn-out consideration liability of $7.8 million and $8.2 million, respectively, and the Envoi earn-out growth consideration liability of $1.5 million and $1.6 million, respectively, are reported in the Earn-out liabilities, at fair value, in the Condensed Consolidated Statements of Financial Position. Kontora Earn-out Consideration On April 30, 2025, the Company acquired all of the issued and outstanding ownership interests of Kontora. The Kontora Acquisition was accounted for using the acquisition method of accounting and the fair value of the total purchase consideration transferred was $15.7 million. Included in the total purchase consideration is contingent consideration of $5.7 million, comprised of the Kontora earn-out liability, which is payable in cash and tied to certain revenue streams acquired in the Kontora Acquisition. Amounts will become payable annually between the closing date and December 31, 2035. The Kontora earn-out liability of $7.0 million and $7.0 million, as of March 31, 2026 and December 31, 2025, respectively, is reported in the Earn-out liabilities, at fair value, in the Condensed Consolidated Statements of Financial Position. Letter of Credit On December 19, 2024, the Company entered into a letter of credit (the “Facility Agreement”) with BMO Harris Bank N.A. for the purpose of issuing instruments under this Facility Agreement through December 19, 2025 (the “Termination Date”). The Company will deposit a cash collateral equal to 102% of the amount of each instrument issued. The aggregate outstanding face amount of all issued instruments shall not exceed $5.0 million and shall have an expiry date of no later than one year from the Termination Date. Upon an issuance, the Company will pay a commitment fee equal to (i) the actual daily amount of the unused commitment, multiplied by (ii) 0.3% (the “Commitment Fee”). The Commitment Fee shall be calculated on the basis of a year of 365 days and shall be payable quarterly in arrears on the last day of each fiscal quarter. As of both March 31, 2026 and December 31, 2025, the Company has existing letters of credit in the amount of $2.6 million and $3.4 million, respectively, under the Facility Agreement. Litigation From time to time, we may be named as a defendant in legal or regulatory actions. Although there can be no assurance of the outcome of such matters, management’s current assessment is that no loss contingency reserve is required to be recorded as of March 31, 2026 for any potential liability related to any current legal or regulatory proceeding or claim that would individually or in the aggregate materially affect our results of operations, financial position, or cash flows. On July 11, 2025, after conducting the previously announced strategic review of the International Real Estate Businesses, the Company approved the appointment of the Administrators for the International Real Estate Businesses. Potential litigation related to that business, including Home REIT and HLIF below, will be dealt with as appropriate by the Administrators. Home REIT Home REIT is a real estate investment trust company listed on the London Stock Exchange. AFM UK, a wholly owned subsidiary of the Company, is one of the International Real Estate entities which entered into administration, and was Home REIT’s alternative investment fund manager (“AIFM”) until August 21, 2023 and AHRA was its investment adviser until June 30, 2023. Services are no longer provided by any AlTi companies or any legacy Alvarium companies to Home REIT. AHRA was owned by ARE (another wholly owned subsidiary of the Company, and one of the International Real Estate entities which entered into administration) up until December 30, 2022, when it was sold. AlTi was formed on January 3, 2023, through the Business Combination that included certain legacy Alvarium companies, including AFM UK. While the sale of AHRA occurred prior to the Business Combination, under GAAP, its results were required to be consolidated in our financial statements until June 30, 2023, when it was deconsolidated. For UK regulatory purposes, up until June 30, 2023, AHRA was permitted to perform certain limited regulated activities as an “appointed representative” of its regulated principal firm, ARE (which is authorized and regulated by the UK FCA). Since November 2022, Home REIT and AHRA have been the subject of a series of allegations in the UK media regarding Home REIT’s operations, triggered by a report issued by a short seller. Home REIT’s stock price fell materially as a result and its shares are currently suspended from trading. On October 6, 2023, pre-action steps were commenced by a law firm acting on behalf of a group of current and former shareholders in Home REIT (in the UK, pre-action correspondence is required under the Practice Direction on Pre-Action Protocols and Conduct contained in the United Kingdom’s Ministry of Justice Civil Procedure Rules prior to a claimant commencing litigation). In the pre-action correspondence, the claimant group alleges that there were misstatements in Home REIT’s offering documents and certain other public filings between 2020 and 2022 and asserts potential claims against AFM UK and ARE (as well as against Home REIT itself and its directors, among others) in connection with such matters and the historic management and advisory services provided to Home REIT by certain legacy Alvarium companies. On April 12, 2024, pre-action steps were commenced by Home REIT and its directors against AFM UK and ARE. This relates to the historic management of Home REIT by certain legacy Alvarium companies. In the pre-action correspondence, Home REIT and its directors assert potential claims against AFM UK and ARE and state their intention to bring claims against those entities: (i) for a 100% contribution to any losses incurred by Home REIT or its directors if current or former shareholders in Home REIT issue claims against them as outlined in the preceding paragraph; and (ii) on a standalone basis, for losses they assert have been incurred by Home REIT as a result of alleged breaches of contractual, tortious and fiduciary duties, unlawful means conspiracy and deceit by AFM UK and/or AHRA, and, in the case of ARE, they assert that ARE is liable to Home REIT for any acts or omissions of AHRA under the UK’s appointed representative regime. There have been no material developments in the potential litigation relating to Home REIT since the appointment of administrators on July 11, 2025. HLIF HLIF is a private fund which pursues a similar investment strategy to Home REIT. In the period from June 30, 2022 to December 31, 2023, the estimated value of its underlying real estate investment portfolio declined by approximately 50%, due to a decrease in the timely collection of rents on the underlying portfolio, but also due to higher interest rates and other macro-economic factors. HLIF was managed by AFM UK as its AIFM and ‘authorized corporate director’ and was advised by SHIA, (one of the International Real Estate entities which entered into administration), until August 2025, when management of HLIF was transitioned to a third party manager and AFM UK’s and SHIA’s services were terminated. Like AHRA, SHIA was permitted to perform certain limited regulated activities as an “appointed representative” of its regulated principal firm, ARE. In February 2024, the UK FCA commenced investigations into the historic performance of certain International Real Estate entities, in their services to Home REIT and/or HLIF, and whether they breached certain civil or criminal regulatory rules and/or principles. The investigations relate to the historic management of Home REIT and/or HLIF by certain legacy Alvarium companies. The investigations are focused primarily on whether any false or misleading statements were made in relation to Home REIT and/or HLIF and/or whether these group entities breached other FCA rules and/or principles. ARE and AFM UK have voluntarily requested the imposition of requirements by the UK FCA which primarily involves the companies agreeing to maintain their current assets and not undertaking any new business without UK FCA consent. The commencement of the investigations does not mean that the UK FCA has determined that any such breaches have occurred. However, it is possible that the UK FCA may determine that certain breaches have occurred, and it may seek to impose financial penalties or other outcomes on one or more group entities, that may potentially be material. We are not able to estimate how long it might take for the UK FCA to complete such investigations, but it is possible that the investigations may continue for a prolonged period, potentially over several years. Potential Redress in Relation to Real Estate Products As part of ongoing examinations with regulators and our review of client relationships, it has been agreed, that if certain conditions are met, redress will be paid to a limited number of clients in relation to certain Real Estate Products. As of the issuance of these financial statements all impacted clients have been informed of this proposal. For the three months ended March 31, 2026, a provision of $3.6 million has been recognized in relation to this potential future liability. The ultimate loss could differ from the accrued amount. Tolleson Wealth Management The Company was involved in a dispute with Tolleson related to alleged improper solicitation of Tolleson’s clients and employees. Certain former Tolleson employees who joined AlTi were party to Tolleson employment agreements which contained a one-year client and employee non-solicit and a lost client fee clause requiring payment for lost revenue. In September 2024, despite offers by the Company to pay for the departed clients, Tolleson filed a lawsuit against AlTi and the former Tolleson employees. The parties reached an agreement later in September 2024, dismissing the litigation and agreeing to mediation. The Company and Tolleson entered a binding settlement agreement on February 19, 2025, memorializing the terms agreed to in mediation and concluding this matter. On March 13, 2025, the settlement amount of $5.1 million was paid by the Company to Tolleson. International Real Estate Businesses In connection with the administration of the International Real Estate Businesses, the Company and the Administrators have negotiated a settlement of outstanding intercompany balances between certain of our affiliates and the International Real Estate Businesses. On March 19, 2026, the Company and certain of our affiliates on the one hand and the International Real Estate Businesses the Administrators on the other hand entered into a binding settlement and intercompany loan deed memorializing the terms of the settlement and concluding this matter. The settlement amount of £11.2 million ($15.0 million) will be paid in installments through November 2027.

Condensed Consolidated Statement of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 8,390	$ (2,882)
Other Comprehensive Income (Loss)
Foreign currency translation adjustments	1,765	3,249
Other comprehensive income (loss)	0	(24)
Total comprehensive income (loss)	10,155	343
Other gain (loss) attributed to non-controlling interests in subsidiaries	1,108	(3,953)
Comprehensive income (loss) attributable to AlTi Global, Inc.	$ 9,047	$ 4,296

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-SubTopic 10
-Topic 810
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-20

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K

+ Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478671/942-235-S50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-9

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 17
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480336/718-10-65-17

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 18: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-19

Reference 25: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 37: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4J

Reference 38: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-2

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A

Reference 43: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A

Reference 44: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481538/470-20-65-4

+ Details

Goodwill - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Goodwill - Narrative (Details) - USD ($)	Mar. 31, 2026	Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charge on goodwill	$ 0	$ 0

- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

Segment Reporting (Details) - segment	3 Months Ended	6 Months Ended
Segment Reporting (Details) - segment	Mar. 31, 2026	Jun. 30, 2025
Segment Reporting [Abstract]
Number of operating segments	1	2
Number of reportable segments	1	2

Business Combinations (Tables)

3 Months Ended

Mar. 31, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Purchase, Cash and Equity Considerations

The total purchase consideration is summarized below:


(Dollars in Thousands)	Amount
Initial purchase price	$	8,740
Settlement of debt	1,213
Contingent consideration	5,743
Total purchase consideration transferred	$	15,696

Schedule of Assets Acquired, and Liabilities Assumed

The following table sets forth the preliminary fair values of the assets acquired and liabilities assumed in connection with the Kontora Acquisition:


(Dollars in Thousands)	Kontora Acquisition Date Fair Value
Cash and cash equivalents	$	3,440
Fees receivable	2,702
Equity method investments	28
Intangible assets	14,075
Goodwill	981
Operating lease right-of-use assets	1,952
Deferred tax assets, net	1,451
Other assets, net	2,326
Total Assets Acquired	$	26,955
Accounts payable and accrued expenses	526
Accrued compensation and profit sharing	218
Debt, net of unamortized deferred financing cost	732
Operating lease liability	1,952
Deferred tax liability	4,774
Other liabilities, net	3,057
Total Liabilities Assumed	$	11,259
Total Assets Acquired and Liabilities Assumed	$	15,696

Schedule of Intangible Assets Acquired

Below is a summary of the intangible assets acquired in the Kontora Acquisition:


(Dollars in Thousands)	Kontora Acquisition Date Fair Value		Estimated Life (Years)
Brand	$	187	3
License	4,385		15
Customer relationships	9,443		15
Software	60		3
Total Intangible Assets	$	14,075

Schedule of Business Acquisition, Pro Forma Information



(Dollars in Thousands)	March 31, 2025
Total revenue	$	62,401
Net income (loss)	$	1,500

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

Other assets, net and Other liabilities, net - Schedule of Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Payroll taxes	$ 1,162	$ 1,754
Payroll	1,522	869
Corporation tax payable	2,347	2,532
Accrued legal	4,332	4,496
Other	3,014	5,025
Other Liabilities, net	12,377	14,676
Related party
Property, Plant and Equipment [Line Items]
Other Liabilities, net	$ 800	$ 700

- Definition

Amount of liabilities classified as other.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 64
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481620/480-10-55-64

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 605
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477548/944-605-55-14

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 605
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477548/944-605-55-11

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(12)(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(12)(b)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(12)(b)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(17))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

+ Details

Equity-Based Compensation - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($) shares
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized equity-based compensation expense \| $	$ 22.2
Unrecognized equity-based compensation expense, weighted average recognition period (in years)	1 year 9 months 25 days
RSUs \| Class A Common Stock
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Authorized (in shares)	20,798,132
Available for grant (in shares)	3,157,641

Intangible Assets, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4.1	$ 3.8

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-18

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-11

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-12

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-SubTopic 30
-Topic 350
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482686/350-30-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-6

+ Details

Earnings Per Share - Schedule of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Numerator:
Net income (loss) from continuing operations	$ 8,390	$ 4,037
Net income (loss) attributable to noncontrolling interests in subsidiaries from continuing operations	686	(4,792)
Net income (loss) attributable to AlTi Global Inc	7,704	8,829
Less: Preferred stock dividends	(6,371)	(5,661)
Less: Undistributed earnings allocated to participating securities	(596)	(1,510)
Income (loss) from continuing operations available to Class A shareholders - basic	737	1,658
Income (loss) from continuing operations available to Class A shareholders - diluted	$ 737	$ (3,477)
Denominator:
Weighted-average shares of Class A Common Stock outstanding - basic (in shares)	105,021,861	94,883,803
Weighted-average shares of Class A Common Stock outstanding - diluted (in shares)	110,878,369	147,164,068
Income (loss) from continuing operations per Class A Common Stock - basic (in dollars per share)	$ 0.01	$ 0.02
Income (loss) from continuing operations per Class A Common Stock - diluted (in dollars per share)	$ 0.01	$ (0.02)
Stock Awards
Denominator:
Dilutive effect of shares (in shares)	3,778,975	0
Acquisition-related
Denominator:
Dilutive effect of shares (in shares)	2,077,533	0
Class B Common Stock
Numerator:
Dilutive effect of shares	$ 0	$ (4,792)
Denominator:
Dilutive effect of shares (in shares)	0	49,069,963
Earn-Out Shares
Numerator:
Dilutive effect of shares	$ 0	$ (343)
Denominator:
Dilutive effect of shares (in shares)	0	3,210,302

Goodwill

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table provides a reconciliation of Goodwill reported on the Condensed Consolidated Statements of Financial Position as of March 31, 2026 and December 31, 2025, respectively.


(Dollars in Thousands)	As of March 31, 2026		As of December 31, 2025

Beginning Balance	$	385,966	$	377,842




Goodwill recognized in connection with acquisitions	—		542


Measurement period adjustments	—		439
Currency translation and other adjustments	(1,380)		7,143

Ending Balance	$	384,586	$	385,966

The Company recognized no impairment to goodwill for the periods presented.

The Company believes that its procedures for estimating the fair value of the reporting units are reasonable and consistent with assumptions that would be used by other marketplace participants. However, such assumptions are inherently uncertain, and a change in assumptions could change the estimated fair value of our reporting units. Future impairments of our indefinite lived intangible assets and reporting units could be required, which could be material to the condensed consolidated financial statements.

- Definition

The entire disclosure for goodwill.

+ References + Details