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Business Combinations and Divestitures - Pro Forma Financial Information (Details) - AlTi Wealth Management (Switzerland) SA (“AWMS”), AL Wealth Partners Pte. Ltd. (“ALWP”), East End Advisors, LLC ("EEA"), Pointwise Partners Limited ("PW"), And Envoi, LLC (“Envoi”) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total revenue	$ 215,339	$ 276,959	$ 102,598
Net income (loss)	$ (101,668)	$ (162,307)	$ (2,050)

Revenue - Contract with Customer (Details) - Operating Segments - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Management/advisory fees
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	$ 32,194	$ 29,539	$ 30,698
Deferred revenue	(1)	(66)	(945)
Management/advisory fees \| Related party
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	700	1,200
Incentive fees
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	1,324	40,356	7,570
Incentive fees \| Related party
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	200	14,900
Other fees/income
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	98	526	4,112
Deferred revenue	$ 0	$ 0	$ (422)

Description of the Business - Segments (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2024 segment	Dec. 31, 2024 USD ($) segment category	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 09, 2024
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of operating segments \| segment	2	2
Number of operating segments, number of revenue generating categories \| category		4
Assets under management		$ 75,700,000
Intangible asset impairment charge		2,214	$ 52,918
Wealth & Capital Solutions
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under advisement		$ 67,300,000	58,700,000
Wealth & Capital Solutions \| Investment Management and Advisory Services
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Investment in alternative asset (in percent)		27.00%
Wealth & Capital Solutions \| Alternatives Platform, Internally - Managed Fund
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under management		$ 1,700,000
Wealth & Capital Solutions \| Alternatives Platform, Externally - Managed Fund
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under management		5,100,000
Wealth & Capital Solutions \| Alternatives Platform, Externally - Managed Fund \| Romspen
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under advisement		2,000,000
Wealth & Capital Solutions \| Alternatives Platform, Externally - Managed Fund \| Zebedee
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under advisement		1,800,000
Wealth & Capital Solutions \| Alternatives Platform, Externally - Managed Fund \| Arkkan
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under advisement		1,300,000
International Real Estate
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under management and advisement		8,400,000
International Real Estate \| Entity owned by management Of Alvarium Home REIT Advisors Ltd (“AHRA”) \| Alvarium RE Limited ("ARE")
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Intangible asset impairment charge			29,400
International Real Estate \| Real Estate Fund Management \| LondonMetric Property Plc \| Disposal group, disposed of by sale, not discontinued operations \| LXi Reit Advisors Limited (“LRA”)
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Ownership percentage in disposed asset (in percent)					100.00%
Intangible asset impairment charge			$ 23,500
International Real Estate \| Real Estate Fund Management \| Home Long Income Fund
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under management		$ 300,000
International Real Estate \| Real Estate Fund Management \| Entity owned by management Of Alvarium Home REIT Advisors Ltd (“AHRA”) \| Alvarium RE Limited ("ARE") \| Alvarium Home REIT Advisors Ltd ("AHRA")
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Voting interest to be acquired (in percent)				100.00%
Total purchase consideration transferred				$ 29,000

Consolidated Statement of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues [Abstract]
Total income	$ 206,935	$ 246,917	$ 76,872
Operating Expenses
Compensation and employee benefits	169,889	208,255	51,234
Systems, technology and telephone	19,361	16,341	6,331
Sales, distribution and marketing	3,496	2,217	1,170
Occupancy costs	14,572	13,814	4,503
Professional fees	50,308	63,091	9,400
Travel and entertainment	5,339	5,914	1,724
Depreciation and amortization	14,552	17,039	2,339
General, administrative and other	16,267	19,495	1,489
Total operating expenses	293,784	346,166	78,190
Total operating income (loss)	(86,849)	(99,249)	(1,318)
Other Income (Expenses)
Impairment loss on goodwill and intangible assets	(116,769)	(206,777)	0
Gain (loss) on investments	(5,355)	(15,483)	(3,671)
Gain (loss) on TRA	3,855	(233)	0
Gain (loss) on preferred stock tranche liability	600	0	0
Gain (loss) on warrant liabilities	0	(12,866)	0
Gain (loss) on earnout liabilities	30,727	31,104	0
Interest expense	(22,146)	(14,501)	(427)
Interest income	5,362	0	0
Other income (expense)	(4,863)	(3,744)	(55)
Income (loss) before taxes	(195,438)	(321,749)	(5,471)
Income tax (expense) benefit	21,133	10,534	(527)
Net income (loss)	(174,305)	(311,215)	(5,998)
Net (loss) income attributed to non-controlling interests in subsidiaries	(71,271)	(145,631)	(113)
Net income (loss) attributable to AlTi Global, Inc.	$ (103,034)	$ (165,584)	$ (5,885)
Net Income (Loss) Per Share
Basic (in dollars per share)	$ (1.59)	$ (2.70)	$ (839.87)
Diluted (in dollars per share)	$ (1.59)	$ (2.70)	$ (839.87)
Weighted Average Shares of Class A Common Stock Outstanding
Basic (in shares)	79,692,659	61,396,692	7,007
Diluted (in shares)	79,692,659	61,396,692	7,007
Management/advisory fees
Revenues [Abstract]
Total income	$ 190,455	$ 180,861	$ 76,872
Incentive fees
Revenues [Abstract]
Total income	3,256	43,377	0
Distributions from investments
Revenues [Abstract]
Total income	12,304	17,185	0
Other fees/income
Revenues [Abstract]
Total income	$ 920	$ 5,494	$ 0

Debt, net of unamortized deferred financing cost

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Debt, net of unamortized deferred financing cost

On December 19, 2024, the Company paid off its debt outstanding in the amount of $133.4 million related to the BMO Credit Facility, as defined below, with the proceeds raised from the Allianz Transaction and the Constellation Transaction (see Note 1 (Description of the Business)). This debt was due to terminate on December 31, 2024. The Company recognized a write-off of the deferred issuance costs related to the extinguishment of this debt in the amount of $4.5 million, which was recorded in the line Interest expense in the Consolidated Statement of Operations. The following table summarizes outstanding debt obligations of the Company as of December 31, 2024 and December 31, 2023:


	As of December 31, 2024						As of December 31, 2023
(Dollars in Thousands)	Debt Outstanding		Net Carrying Value (1)		Fair Value (2)		Debt Outstanding		Net Carrying Value(1)		Fair Value (2)
Credit Agreement
Term Loans	$	—	$	—	$	—	$	95,000	$	92,603	$	95,000
Revolving Credit Facility	—		—		—		93,750		93,750		93,750

Total Debt	$	—	$	—	$	—	$	188,750	$	186,353	$	188,750

(1) Represents debt outstanding net of unamortized debt issuance costs.

(2) The fair value of the Term Loans and Revolving Credit Facility approximates carrying value as of December 31, 2024 and December 31, 2023. The fair value is categorized as Level 3 under ASC 820.

Credit Agreement

On January 3, 2023, the Company entered into a credit agreement (the “Credit Agreement”) with BMO Harris Bank N.A., as administrative agent, for a senior secured credit facility (the “BMO Credit Facility”) in an aggregate principal amount of $250.0 million, consisting of term loan commitments for an aggregate principal amount of $100.0 million (the “Term Loans”) and a revolving credit facility with commitments for an aggregate commitment amount of $150.0 million (the “Revolving Credit Facility”), with an accordion option to increase the revolving commitments an additional $75.0 million to $225.0 million total. Upon the Closing, the Company had initially acquired legacy debt obligations from its subsidiaries in the amount of $124.4 million. Subsequently, after the Closing, the Company obtained additional financing through the BMO Credit Facility from which proceeds from borrowings were used to repay outstanding debt obligations acquired through the transaction, and also for working capital and general corporate purposes, including, without limitation, permitted acquisitions.

The Term Loans and Revolving Credit Facility bear interest at a rate per annum equal to, at the Company’s option, either (i) SOFR plus a margin based on the Company’s Total Leverage Ratio (as defined in the Credit Agreement) or (ii) the Base Rate (as defined in the Credit Agreement) plus a margin based on the Company’s Total Leverage Ratio. The margin ranges between 1.0% and 2.0% for base rate loans and between 2.0% and 3.0% for SOFR loans. The Company will pay a commitment fee based on the average daily unused portion

of the commitments under the Revolving Credit Facility, a letter of credit fee equal to the margin then in effect with respect to the SOFR loans under the Revolving Credit Facility, a fronting fee and any customary documentary and processing charges for any letter of credit issued under the Credit Agreement. The Term Loan is subject to quarterly amortization payments and will mature on December 31, 2024. The Revolving Credit Facility will terminate on December 31, 2024. As of December 31, 2024, unfunded commitments on the Revolving Credit Facility amounted to $0.0 million. As of December 31, 2023, unfunded commitments on the Revolving Credit Facility amounted to $16.3 million, and the weighted-average interest rate on the outstanding borrowings of this facility was 9.0%. As security for the Term Loans and Revolving Credit Facility, the borrower and the guarantors thereunder have pledged substantially all of their assets, subject to agreed-upon exclusions. The guarantor group consists of the Company’s U.S. and non-U.S. subsidiaries, subject to an agreed-upon materiality threshold. As of December 31, 2024 and December 31, 2023, total outstanding debt, net of unamortized deferred financing costs amounted to $0.0 million and $186.4 million, respectively.

First Amendment to Credit Agreement

On March 31, 2023, the Company executed the First Amendment to the Credit Agreement (the “First Amendment”). The First Amendment permits the Company to extend the time period for certain payments to be made that would have otherwise been restricted by the Credit Agreement.

Second Amendment to Credit Agreement

On November 10, 2023, the Company entered into the Second Amendment to the Credit Agreement (“the Second Amendment”). The Second Amendment, among other things, temporarily amends, from the date of the amendment until effectively April 1, 2024, the following provisions of the Credit Agreement:

•The aggregate commitment amount under the Revolving Credit Facility is reduced from $150.0 million to $110.0 million;

•The financial covenants in the Credit Agreement are adjusted to allow for a higher Total Leverage Ratio and Modified Leverage Ratio as well as a lower Interest Coverage Ratio;

•During the amendment period, cash proceeds from the issuance of any debt, (other than certain debt permitted under the Credit Agreement) and any equity securities issued by the Company are required to be used to repay amounts outstanding under the facility, first under the Term Loans until such Term Loans are repaid in full and then under the Revolving Credit Facility, until the Revolving Credit Facility is reduced to $50.0 million in the aggregate; and

•Beginning after the end of the amendment period, certain clauses in the Credit Agreement that pertain to restricted payments are amended.

Third Amendment to Credit Agreement

On February 22, 2024, the Company entered into a Third Amendment to the Credit Agreement (the “Third Amendment”). The Third Amendment amends and restates the Credit Agreement in its entirety to, among other things:

•provide for and permit that the investments in the Company being made by Allianz and Constellation are not required to reduce amounts outstanding under the facility;

•amend the financial covenants applicable to the Company, including permanently removing the Modified Leverage Ratio, and a waiver of the Leverage Ratio and Interest Coverage Ratio for the quarters ending March 31, 2024, and June 30, 2024. For these periods, covenants will include a Minimum EBITDA and Minimum Liquidity level. In addition, starting in the quarter ending September 30, 2024 and subsequent periods, certain cash balances will be permitted to be netted against debt outstanding when calculating the Company’s Leverage Ratio;

•amend the pricing grid setting forth the Applicable Margin to, among other things, increase the Applicable Margin by 0.50% while the leverage ratio and interest coverage ratio are temporarily waived, and provide for additional pricing levels based on the Company’s Total Leverage Ratio after the waiver period;

•limit the Company’s use of proceeds relating to the Revolving Credit Facility solely to general working capital; and

•provide for the sale of certain assets of the Company, the proceeds of which will be required to pay down the term loan and may reduce the $40,000,000 revolving facility commitment block in place while the leverage ratio and interest coverage ratio are temporarily waived.

Fourth Amendment to Credit Agreement

On August 5, 2024, the Company entered into a Fourth Amendment to the Credit Agreement (the “Fourth Amendment”). The Fourth Amendment amends the Credit Agreement to permit the Company to utilize proceeds from any drawdowns on the revolving credit facility on certain “Permitted Acquisitions,” as defined in the Credit Agreement.

Fifth Amendment to Credit Agreement

On November 6, 2024, the Company entered into a Fifth Amendment to the Credit Agreement (the “Fifth Amendment”). The Fifth Amendment amends the Credit Agreement to extend the waiver on the Interest Coverage Ratio until the computation period ending December 31, 2024. In addition, the termination date for the term loan and the revolving credit facility was amended to be December 31, 2024.

Allianz Tranche Right

The Company evaluated 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. See Note 1 (Description of the Business) for details. As of December 31, 2024, the Allianz Tranche Right of $3.9 million 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 Consolidated Statement of Financial Position. As of December 31, 2024, the change in fair value of the Allianz Tranche Right is $0.6 million, which is recorded in the line item Gain (loss) on preferred stock liability in the Consolidated Statement 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.

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+ Details

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Investments - Unrealized Gains (Losses) and Realized Gains (Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Realized gains (losses)	$ (15)	$ 1	$ (68)
Unrealized gains (losses)	(16,491)	2,749	247
Total gains (losses) on Investments at fair value	$ (16,506)	$ 2,750	$ 179

Income Taxes - Income (Loss) Before Income Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
U.S. Domestic	$ (75,928)		$ 1,082
Foreign	(119,510)		(6,553)
Income (loss) before taxes	$ (195,438)	$ (321,749)	$ (5,471)
Previously Reported
Income Tax Contingency [Line Items]
U.S. Domestic		(7,708)
Foreign		(308,629)
Income (loss) before taxes		$ (316,337)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Variable Interest Entities - Maximum Exposure To Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Total assets	$ 1,255,833	$ 1,266,297
Total liabilities	285,638	483,804
Total AlTi Global, Inc. shareholders’ equity	658,402	352,144
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Total assets	3,559,742	3,777,125
Total liabilities	205,021	215,896
Total AlTi Global, Inc. shareholders’ equity	6,360	9,866
AlTi exposure	$ 6,360	$ 10,273

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- 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

Business Combinations and Divestitures (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Acquisitions, by Acquisition


(Dollars in Thousands)	Amount

Cash consideration	$	99,999
Equity consideration:
Class A	$	294,159
Class B	$	573,205
Warrants	$	4,896
Earn-out consideration	$	85,097
Tax Receivable Agreement	$	13,000
Payment of assumed liabilities	$	760
Total purchase consideration transferred	$	1,071,116

The total purchase consideration includes the following amounts:


(Dollars in Thousands)	AWMS Amount
Initial Cash consideration	$	5,711
Equity consideration	1,459
Deferred cash consideration	6,695
Earn-out consideration	2,721
Payment of assumed liabilities	168
Total purchase consideration transferred	$	16,754


(Dollars in Thousands)	Amount
Cash consideration	$	69,013
Contingent consideration installments	23,308
Payment of assumed liabilities	793
Total purchase consideration transferred	$	93,114

The total purchase consideration transferred includes cash consideration, equity consideration, estimated deferred consideration, and the settlement of pre-existing relationships as summarized below:


(Dollars in Thousands)	PW Amount
Initial Cash consideration	$	1,735
Equity consideration	1,705
Deferred consideration	3,328
Settlement of pre-existing relationships	1,186
Total purchase consideration transferred	$	7,954

The total purchase consideration is summarized below:


(Dollars in Thousands)	Envoi Amount
Cash consideration	$	25,258
Earn-out consideration	9,000
Total purchase consideration transferred	$	34,258

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table sets forth the fair values of the assets acquired and liabilities assumed in connection with the Business Combination:


(Dollars in Thousands)	Business Combination Date Fair Value

Cash and cash equivalents	$	24,023
Management/advisory fees receivable	42,381
Investments at fair value	148,674
Equity method investments	42,185
Property, plant and equipment	3,996
Intangible assets	520,161
Goodwill	530,546
Operating lease right-of-use assets	28,487
Other assets	47,251
Total Assets Acquired	$	1,387,704
Accounts payable and accrued expenses	72,022
Accrued compensation and profit sharing	25,051
Accrued member distributions payable	12,803
Delayed share purchase agreement	1,818
Earn-in consideration payable	1,519
Operating lease liabilities	29,047
Debt	124,533
Deferred tax liability, net	34,640
Other liabilities	15,149
Total Liabilities Assumed	$	316,582
Total Assets Acquired and Liabilities Assumed	1,071,122
Non-controlling interest in subsidiaries	(6)
	$	1,071,116

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


(Dollars in Thousands)	ALWP Acquisition Date Fair Value
Cash and cash equivalents	$	1,092
Management/advisory fees receivable	1,952
Property, plant and equipment	644
Intangible assets	12,300
Goodwill	3,836
Operating lease right-of-use assets	1,048
Other assets	474
Total Assets Acquired	21,346
Accounts payable and accrued expenses	368
Operating lease liabilities	1,048
Other liabilities	4,400
Total Liabilities Assumed	$	5,816
Total Assets Acquired and Liabilities Assumed	$	15,530

The following table sets forth the fair values of the assets acquired and liabilities assumed in connection with the AWMS business combination:


(Dollars in Thousands)	AWMS Acquisition Date Fair Value
Cash and cash equivalents	$	1,401
Management/advisory fees receivable	1,057
Equity method investments	57
Intangible assets	9,679
Goodwill	15,146
Operating lease right-of-use assets	298
Other assets	323
Total Assets Acquired	27,961
Accounts payable and accrued expenses	784
Operating lease liabilities	298
Other liabilities	2,944
Total Liabilities Assumed	$	4,026
Total Assets Acquired and Liabilities Assumed	$	23,935

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


(Dollars in Thousands)	EEA Acquisition Date Fair Value
Cash and cash equivalents	$	218
Management/advisory fees receivable	12
Intangible assets	62,700
Goodwill	30,094
Operating lease right-of-use assets	2,326
Other assets	1,181
Total Assets Acquired	96,531
Accounts payable and accrued expenses	79
Operating lease liabilities	2,326
Other liabilities	1,012
Total Liabilities Assumed	$	3,417
Total Assets Acquired and Liabilities Assumed	$	93,114

The following table sets forth the fair values of the assets acquired, and liabilities assumed in connection with the PW business combination:


(Dollars in Thousands)	PW Acquisition Date Fair Value
Cash and cash equivalents	$	269
Intangible assets	9,700
Goodwill	6,747
Other assets	20
Total Assets Acquired	16,736
Accounts payable and accrued expenses	589
Other liabilities	292
Deferred tax liability	1,749
Total Liabilities Assumed	$	2,630
Total Assets Acquired and Liabilities Assumed	$	14,106

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


(Dollars in Thousands)	Envoi Acquisition Date Fair Value
Intangible assets	$	23,300
Goodwill	10,824
Operating lease right-of-use assets	196
Other assets	157
Total Assets Acquired	34,477
Accounts payable and accrued expenses	1
Operating lease liabilities	218
Total Liabilities Assumed	219
Total Assets Acquired and Liabilities Assumed	$	34,258

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

Below is a summary of the intangible assets acquired in the Business Combination (in thousands):


(Dollars in Thousands)	Acquisition Date Fair Value		Estimated Life (Years)

Trade Names	$	14,695	9.9
Customer Relationships	163,392		27.1
Investment Management Agreements (definite life)	94,575		18.4
Investment Management Agreements (indefinite life)	245,900		Indefinite
Developed Technology	1,000		5
Backlog	599		0.5
Total intangible assets acquired	$	520,161

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


(Dollars in Thousands)	ALWP Acquisition Date Fair Value		Estimated Life (Years)
Customer Relationships	$	12,300	10
Total Intangible Assets	$	12,300

Below is a summary of the intangible assets acquired in the AWMS business combination:


(Dollars in Thousands)	AWMS Acquisition Date Fair Value		Estimated Life (Years)
Customer Relationships	$	9,679	14
Total Intangible Assets	$	9,679

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


(Dollars in Thousands)	EEA Acquisition Date Fair Value		Estimated Life (Years)
Trade Name	$	1,400	5
Customer Relationships	$	61,000	17
Developed Technology	$	300	5
Total Intangible Assets	$	62,700

Below is a summary of the intangible assets acquired in the PW business combination:


(Dollars in Thousands)	PW Acquisition Date Fair Value		Estimated Life (Years)
Customer Relationships	$	9,700	14
Total Intangible Assets	$	9,700

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


(Dollars in Thousands)	Envoi Acquisition Date Fair Value		Estimated Life (Years)
Customer Relationships	$	23,300	15
Total Intangible Assets	$	23,300

Schedule of Business Acquisition, Pro Forma Information

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 AWMS, ALWP, EEA, PW, and Envoi acquisitions had taken place on January 1, 2023, nor is it indicative of future results.


	For the Year Ended
(Dollars in Thousands)		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Total revenue		$	215,339	$	276,959	$	102,598
Net income (loss)		$	(101,668)	$	(162,307)	$	(2,050)

Schedule of Disposal Groups, Including Discontinued Operations

The following table represents amounts presented as held for sale for the periods presented:


	As of
(in thousands)	December 31, 2023
Assets
Cash and cash equivalents	$	2,897
Fees receivable, net	4,792
Intangible assets, net of accumulated amortization	46,658
Operating lease right-of-use assets	434
Deferred tax asset, net	41
Other assets	1,812
Total assets held for sale	$	56,634
Liabilities
Accounts payable and accrued expenses	$	(1,007)
Operating lease liabilities	(381)
Deferred tax liability, net	(10,852)
Deferred income	(781)
Other liabilities	(772)
Total liabilities held for sale	$	(13,792)

- 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

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-Name Accounting Standards Codification
-Section 50
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Intangible Assets, net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Mar. 06, 2024	Jan. 09, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 293,588	$ 303,668
Impairment		(2,214)	$ (52,918)
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]			Goodwill and Intangible Asset Impairment
Accumulated Amortization		(22,811)	$ (14,061)
Net Carrying Amount		268,563	189,777
Goodwill, period increase (decrease)		(33,792)	(118,913)
Foreign currency translation differences		(1,300)	7,400
Non-amortized intangible assets
Impairment		$ (44,900)	0
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]		Goodwill and Intangible Asset Impairment
Intangible Assets, Gross Carrying Amount		$ 539,488	549,568
Intangible Assets, Impairment		(47,114)	(52,918)
Intangible Assets, Net Carrying Amount		469,563	435,677
Disposal \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			(254)
Held for Sale
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			(46,658)
Held for Sale \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			(46,658)
International Real Estate
Finite-Lived Intangible Assets [Line Items]
Goodwill, period increase (decrease)		(90,480)	(141,949)
Alvarium RE Limited ("ARE") \| International Real Estate \| Entity owned by management Of Alvarium Home REIT Advisors Ltd (“AHRA”)
Finite-Lived Intangible Assets [Line Items]
Impairment			(29,400)
LondonMetric Property Plc \| International Real Estate \| Disposal group, disposed of by sale, not discontinued operations \| LXi Reit Advisors Limited (“LRA”) \| Real Estate Fund Management
Finite-Lived Intangible Assets [Line Items]
Impairment			(23,500)
Ownership percentage in disposed asset (in percent)					100.00%
Consideration receivable				$ 33,100	$ 33,100
Contingent consideration receivable				$ 5,100	$ 5,100
Gain (loss) on disposal		(400)
Pointwise Partners Limited ("PW"), East End Advisors, LLC ("EEA"), And Envoi, LLC (“Envoi”)
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired		99,300
East End Advisors, LLC ("EEA")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, period increase (decrease)	$ (4,600)
Envoi, LLC (“Envoi”)
Finite-Lived Intangible Assets [Line Items]
Goodwill, period increase (decrease)		(1,000)
Investment management agreements
Non-amortized intangible assets
Investment management agreements		245,900	$ 245,900
Net Carrying Amount		$ 201,000
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)		22 years 3 months 18 days	25 years 3 months 18 days
Gross Carrying Amount		$ 277,117	$ 186,832
Impairment		0	0
Accumulated Amortization		(18,999)	(7,180)
Net Carrying Amount		$ 258,118	177,270
Customer relationships \| Disposal \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			(254)
Customer relationships \| Held for Sale \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			$ (2,128)
Investment management agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)		0 years	19 years 7 months 6 days
Gross Carrying Amount		$ 2,351	$ 100,269
Impairment		(2,104)	(50,283)
Accumulated Amortization		(247)	(4,545)
Net Carrying Amount		$ 0	2,142
Investment management agreements \| Disposal \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			0
Investment management agreements \| Held for Sale \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			$ (43,299)
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)		9 years 4 months 24 days	10 years
Gross Carrying Amount		$ 12,198	$ 14,945
Impairment		(110)	(2,635)
Accumulated Amortization		(2,498)	(1,514)
Net Carrying Amount		$ 9,590	9,565
Trade names \| Disposal \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			0
Trade names \| Held for Sale \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			$ (1,231)
Acquired internally developed software
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)		5 years	5 years
Gross Carrying Amount		$ 1,300	$ 1,000
Impairment		0	0
Accumulated Amortization		(445)	(200)
Net Carrying Amount		$ 855	800
Acquired internally developed software \| Disposal \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			0
Acquired internally developed software \| Held for Sale \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			$ 0
Other intangible asset
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)		0 years	0 years
Gross Carrying Amount		$ 622	$ 622
Impairment		0	0
Accumulated Amortization		(622)	(622)
Net Carrying Amount		$ 0	0
Other intangible asset \| Disposal \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			0
Other intangible asset \| Held for Sale \| Family Office Service ("FOS")
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization			$ 0

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]
Beginning balance	$ 0	$ 0
Additions, based on tax positions related to current year	0	0
Additions for tax positions of prior years	240	0
Reduction for tax positions of prior years	0	0
Settlements	0	0
Lapses in statues of limitations	0	0
Ending balance	$ 240	$ 0

Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Variable Interest Entities

The Company’s maximum exposure to loss relating to non-consolidated VIEs is as follows:


(Dollars in Thousands)	As of December 31, 2024		As of December 31, 2023
Non-Consolidated VIEs





Unconsolidated VIE assets	$	3,559,742	$	3,777,125



Unconsolidated VIE liabilities	$	205,021	$	215,896
Equity interests on the Consolidated Statement of Financial Position	6,360		9,866
AlTi exposure	$	6,360	$	10,273

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying audited consolidated financial statements comprise the financial statements of the Company and its subsidiaries. These consolidated financial statements have been prepared under the accrual basis of accounting in accordance with U.S. GAAP and conform to prevailing practices within the financial services industry, as applicable to the Company. The notes are an integral part of the Company’s consolidated financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s consolidated financial statements have been included and are of a normal and recurring nature. The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Certain prior period presentations and disclosures, while not required to be recast, may be reclassified to ensure comparability with current period classifications.
Prior Period Immaterial Corrections, Reclassifications, Change in Accounting Principle	Prior Period Immaterial Corrections Following an analysis of quantitative and qualitative factors in accordance with SEC Staff Accounting Bulletin 99, Materiality, the Company concluded that the errors below were immaterial to the previously issued consolidated financial statements, and thus, no restatement of any of the Company’s previously issued financial statements is necessary. The Company revised the reported balances to correct for the immaterial errors accordingly. During the first quarter of 2024, the Company identified and corrected immaterial errors impacting the December 31, 2023 balances previously reported related to Accrued compensation and profit sharing, Goodwill, Accounts payable and accrued expenses and certain other balances reported within Other liabilities, net. These revisions resulted in an adjustment to the opening retained earnings balance for the current reporting period of $(3.0) million, a $4.2 million increase in Accrued compensation and profit sharing, a $0.3 million decrease in Goodwill, a $0.6 million increase in Other liabilities, net, and a $0.3 million increase in Accounts payable and accrued expenses. In conjunction with the prior period immaterial error correction, certain reclassifications have been made to prior period amounts between our Non-controlling interest in subsidiaries and Additional paid-in capital which relate to the TRA Exchange of our Class B Units for shares of Class A Common Stock. These reclassifications resulted in an adjustment of $13.3 million and are reflected in our Consolidated Statement of Changes in Mezzanine Equity and Shareholders’ Equity. Additionally, a prior period reclassification of $0.6 million has been made between General, administrative and other expense and Management/advisory fees. These prior period reclassifications have no impact on the Company’s cash flows, net income, or total shareholders’ equity. Additionally, in the current reporting period, the Company reclassified the balances in its Consolidated Statement of Operations as of December 31, 2023 of the previously reported amounts for the line items Management/advisory fees and Professional fees, decreasing both balances by $3.4 million. (c)Reclassifications Due to presentation changes that occurred during the first quarter ended March 31, 2024, we made certain reclassifications in our Consolidated Financial Position on a prospective basis. These reclassifications are not directly comparable to the year ended December 31, 2023 and include a $4.8 million adjustment to decrease Accounts payable and accrued expenses and increase Accrued compensation and profit sharing as well as a $3.2 million adjustment to decrease Other liabilities, net and increase Accrued compensation and profit sharing. (d)Change in Accounting Principle During the three months ended December 31, 2024, the Company changed its classification related to the Allianz and Constellation Warrants from liability-classified to equity-classified within the Statement of Financial Position. The Company changed its accounting principle relating to our interpretation of certain contingent settlement provisions within the Allianz and Constellation Warrants and permissibility of related settlement adjustments under ASC 815-40, Contracts in an Entity’s Own Equity. The Company believes this change in accounting principle is preferable as the Allianz and Constellation Warrants meet the equity scope exception under ASC 815-40, Contracts in an Entity’s Own Equity, and the economic substance of the Allianz and Constellation Warrants more closely aligns with that of an equity instrument, and how we measure the operating performance of the Company. This change in accounting policy has been applied retrospectively to the year-ended December 31, 2024. As a result of the accounting change, the Company reclassified the $9.6 million liability for the Allianz and Constellation Warrants as a component of equity within Additional paid-in capital on the Consolidated Statement of Financial Position. The Company adjusted net income (loss) and Additional paid-in capital to reverse previously recorded mark-to-market fair value changes of the liability-classified warrants recorded as of the first quarter ended March 31, 2024 of $(0.3) million, as of the second quarter ended June 30, 2024 of $0.4 million, and as of the third quarter ended September 30, 2024 of $3.9 million. There was no impact to any other prior periods as the Allianz and Constellation Warrants were issued during 2024. Further, there is no material impact to the initial carrying values of other equity instruments issued in the Allianz and Constellation Transactions as a result of the change in the classification of the Allianz and Constellation Warrants.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make assumptions and estimates that affect the amounts reported in the consolidated financial statements of the Company. The most critical of these estimates are related to (i) the fair value of the investments included in the Billable Assets within AUM/AUA, as this impacts the amount of revenues the Company recognizes each period; (ii) the fair values of the Company’s investments and liabilities with respect to the TRA, and Earn-out Securities, as changes in these fair values have a direct impact on the Company’s consolidated net income (loss); (iii) the estimate of future taxable income, which impacts the realizability and carrying amount of the Company’s deferred income tax assets; (iv) the qualitative and quantitative assessments of whether impairments of equity method investments, carried interest vehicles, acquired intangible assets, and goodwill exist; and (v) the determination of whether to consolidate a variable interest entity (“VIE”); and (vi) fair value of assets acquired and liabilities assumed in business combinations, including assumptions with respect to future cash inflows and outflows, discount rates, assets’ useful lives, market multiples, the allocation of purchase price consideration in the business combination valuation of acquired assets and liabilities, the estimated useful lives of intangible assets, goodwill impairment testing, assumptions used to calculate equity-based compensation, and the realization of deferred tax assets. Inherent in such estimates are judgments relating to future cash flows, which include the Company’s interpretation of current economic indicators and market valuations, and assumptions about the Company’s strategic plans with regard to its operations. While management believes that the estimates utilized in preparing the consolidated financial statements are reasonable and prudent, actual results could differ materially from those estimates.
Consolidation	Consolidation The Company consolidates those entities in which it has a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. The Company determines whether an entity should be consolidated by first evaluating whether it holds a variable interest in the entity. Entities that are not VIEs are further evaluated for consolidation under the voting interest model (“VOE” model). An entity is considered to be a VIE if any of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) the holders of equity investment at risk, as a group, lack either the direct or indirect ability through voting rights or similar rights to make decisions that have a significant effect on the success of the entity or the obligation to absorb the expected losses or right to receive the expected residual returns, or (c) the voting rights of some equity investors are disproportionate to their obligation to absorb losses of the entity, their rights to receive returns from an entity, or both and substantially all of the entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights. Fees that are customary and commensurate with the level of services provided by the Company, and where the Company does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, are not considered a variable interest. The Company factors in all economic interests, including proportionate interests through related parties, to determine if fees are considered a variable interest. Where the Company’s interests in funds are primarily management fees and insignificant direct or indirect equity interests through related parties, the Company is not considered to have a variable interest in such entities. The Company consolidates all VIEs for which it is the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest, which is defined as having (a) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The Company does not consolidate any of the products it manages as it does not hold any direct or indirect interests in such entities that could expose the Company to an obligation to absorb losses of an entity or the right to receive benefits from an entity that could potentially be significant to such entities. The Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and continuously reconsiders that conclusion. In evaluating whether the Company is the primary beneficiary, the Company evaluates its direct and indirect economic interests in the entity. The consolidation analysis is generally performed qualitatively, however, if the primary beneficiary is not readily determinable, a quantitative analysis may also be performed. This analysis requires judgment, including: (1) determining whether the equity investment at risk is sufficient to permit the entity to finance its activities without additional subordinated financial support, (2) evaluating whether the equity holders, as a group, can make decisions that have a significant effect on the success of the entity, (3) determining whether two or more parties’ equity interests should be aggregated, (4) determining whether the equity investors have proportionate voting rights to their obligations to absorb losses or rights to receive returns from an entity and (5) evaluating the nature of relationships and activities of the parties involved in determining which party within a related-party group is most closely associated with a VIE and therefore would be deemed the primary beneficiary. Under the voting interest model, the Company consolidates those entities it controls through a majority voting interest. The Company will generally not consolidate those voting interest entities where a single investor or simple majority of third-party investors with equity have the ability to exercise substantive kick-out or participation rights.
Revenue Recognition	Revenue Recognition Revenue is recognized when the Company transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. A five-step framework is utilized that requires an entity to: (i) identify the contract(s) with a customer, which includes assessing the collectability of the consideration to which it will be entitled in exchange for the goods or services transferred to the customer, (ii) identify the performance obligation in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligation in the contract, and (v) recognize revenue when the entity satisfies a performance obligation. Management/Advisory Fees Revenues from contracts with customers consist of investment management, trustee, and custody fees. The Company recognizes revenue at the time of transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Revenue recognized is calculated based on contractual terms, including the transaction price, whether a distinct performance obligation has been satisfied and control is transferred to the customer, and when collection of the revenue is assessed as probable. Investment management, trustee and custody fees are recognized over the period in which the investment management services are performed, using a time-based output method to measure progress. The amount of revenue varies from one reporting period to another as levels of AUA change (from inflows, outflows, and market movements) and the number of days in the reporting period change. For services provided to each client account, the Company charges an investment management fee, inclusive of custody and/or trustee fees, based on the fair value of the AUA of such account representing a single performance obligation. For assets for which valuations are not available on a daily basis, the most recent valuation provided to the Company is used as the fair value for the purpose of calculating the quarterly fee. In certain circumstances, fixed fees are charged to customers on a monthly basis. The nature of the Company’s performance obligation is to provide a series of distinct services in which the customer receives the benefits of the services over time. The Company’s performance obligation is satisfied at the end of each month or quarter, as applicable to the contract with the customer. Fees are charged on a mixture of methodologies that include quarterly in arrears based upon the market value at the end of the quarter, quarterly based on the average daily balance, or monthly. Receivable balances from contracts with customers are included in the fees receivable line in the Consolidated Statement of Financial Position. Our family office services business is also included in the Management/advisory fees line item. Family office services fees are generally structured to reflect an annual agreed upon fee or they can be structured on a project/time-based fee. Family office services fees are typically billed quarterly in arrears. We also generate family office services project/time-based fees arising from accounting, administration fees, set up, the Foreign Account Tax Compliance Act (“FATCA”), and other non-investment advisory services. Incentive Fees The Company is entitled to incentive fees if targeted returns have been achieved in accordance with customer contracts. Incentive fees are calculated using a percentage of net profit from the amount the customers earn. Incentive fees are variable consideration that is generally calculated as applicable to the contract with the customer. We recognize our incentive fees when it is no longer probable that a significant reversal of revenue will occur. Our incentive fees are not subject to clawback provisions. Other Fees/Income The Company generates arrangement fees from Real Estate Co-Investment transactions by arranging private debt or equity financing, generally in connection with an acquisition or an investment. Arrangement fees are typically 50 to 100 basis points of equity value contributed to a transaction, and are payable upon closing of the transaction. Acquisition fees are typically payable where there are no agency fees or where an off-market transaction was sourced. Such acquisition fees are usually in the range of 50 to 100 basis points of the purchase price of the relevant acquisition. The equity structures are long-term (five to ten years) closed-ended structures with fees normally ranging between 50 and 175 basis points of the equity value committed or drawn. The debt structure terms are generally between 12 and 36 months. The investment adviser, general partner or other entity entitled to fees in respect of each of our co-investments receives such fees either monthly, quarterly or annually.
Distributions from Investments	Distributions from Investments The Company has equity interests in External Strategic Managers pursuant to which it is entitled to distributions based on the terms of the respective arrangements. Distributions from each investment will be recorded upon receipt of the distribution. These distributions are recurring under investment agreements and are structured as either a profit or revenue share of the investment’s management and incentive fees.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents primarily consist of cash and money market funds. Cash balances maintained by consolidated VIEs are not considered legally restricted and are included in cash and cash equivalents on the Consolidated Statement of Financial Position. Cash was held across our U.S. and international markets. A majority of cash in the U.S. was held in checking accounts within the credit facility bank group, including at a major global financial institution which management believes is creditworthy.
Restricted Cash and Cash Equivalents	(j)Restricted Cash and Cash Equivalents Restricted cash and cash equivalents consist of balances that are restricted as to withdrawal or usage. As of December 31, 2024 and December 31, 2023, restricted cash and cash equivalents amounted to $9.9 million and $5.4 million, respectively, and are included in the line item Cash and cash equivalents on the Consolidated Statement of Financial Position as of such dates. These amounts represent 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.
Compensation and Employee Benefits	Compensation and Employee Benefits Cash-Based Compensation Compensation and benefits consist of salaries, bonuses, commissions, benefits and payroll taxes. Compensation is accrued over the related service period. Equity-Based Compensation Equity-based compensation awards are reviewed to determine whether such awards are equity-classified or liability-classified. Compensation expense related to equity-classified awards is equal to their grant-date fair value and generally recognized on a straight-line basis over the awards’ requisite service period for time-based awards or recognized over a graded-vesting period for awards with both a service and market condition, as applicable. When certain settlement features require an award to be liability-classified, compensation expense is recognized over the service period, and such amount is adjusted at each statement of financial position date through the settlement date to the then current fair value of such award. The Company recognizes equity-based award forfeitures in the period they occur as a reversal of previously recognized compensation expense. The reduction in compensation expense is determined based on the specific awards forfeited during that period. Furthermore, the Company recognizes all excess tax benefits and deficiencies as income tax benefits or expenses in the Consolidated Statement of Operations.
Foreign Currency and Transactions	Foreign Currency and Transactions The Company has multiple functional currencies across various consolidated entities. All functional currencies that are not the U.S. dollar are converted upon consolidation at the reporting date. Monetary assets and liabilities denominated in foreign currency are remeasured into U.S. dollars at the closing rates of exchange on the date of the Consolidated Statement of Financial Position. Non-monetary assets and liabilities denominated in foreign currencies are remeasured into U.S. dollars using the historical exchange rate. The profit or loss arising from foreign currency transactions is remeasured using the rate in effect on the date of the relevant transaction. Gains and losses on transactions denominated in foreign currencies due to changes in exchange rates are recorded within Foreign currency translation adjustments. Gains and losses on certain financing transactions that the Company intends to repay in the foreseeable future are recorded in net income.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC 740, Income Taxes. Under this method, deferred tax assets and liabilities are determined based on differences between the consolidated financial statement carrying amounts and tax bases of assets and liabilities and operating loss and tax credit carryforwards and are measured using the enacted tax rates that are expected to be in effect when the differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Consolidated Statement of Operations in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to an amount that, in the opinion of management, is more likely than not to not be realized, meaning the likelihood of realization is less than 50%. The Company accounts for uncertain tax positions by reporting a liability for unrecognizable tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense.
Other Assets, Net and Other Liabilities, Net	Other Assets, Net and Other Liabilities, Net Other assets, net include prepaid expenses, miscellaneous receivables, current income taxes receivable, fixed assets, and software licenses. The Company amortizes assets over their respective useful lives, as applicable. Other liabilities, net include the AlTi Wealth Management (Switzerland) SA, formerly known as Alvarium Investment Managers (Suisse) SA, (“AWMS”) deferred cash consideration (see Note 3 (Business Combinations and Divestitures)), Pointwise Partners Limited (“PW”) deferred consideration, accrued payroll and payroll related taxes, accrued legal fees, and corporate taxes payable, among other miscellaneous payables.
Investments	Investments Investments in Debt Securities. The Company classifies debt investments as held-to-maturity or trading based on the Company’s intent and ability to hold the debt security to maturity or its intent to sell the security. The Company does not have any held-to-maturity debt investments. Trading securities are those investments that are purchased principally for the purpose of selling them in the near term. Trading securities are carried at fair value on the Consolidated Statement of Financial Position with changes in fair value recorded in Loss on investments on the Consolidated Statement of Operations. Investments in Equity Securities. Equity securities are generally carried at fair value on the Consolidated Statement of Financial Position in accordance with ASC 321, Investments – Equity Securities. Changes in fair value are recorded in Loss on investments on the Consolidated Statement of Operations. Equity Method. The Company applies the equity method of accounting for equity investments where the Company does not consolidate the investee but can exert significant influence over the financial and operating policies of the investee. The evaluation of whether the Company exerts control or significant influence over the financial and operational policies of its investees is based on the facts and circumstances surrounding each individual investment. The Company’s share of the investee’s underlying net income or loss is recorded as Loss on investments within current period earnings. The Company’s share of net income of the investee is recorded based upon the most current information available at the time, which may precede the date of the Consolidated Statement of Financial Position. Due to the nature and size of its investees, the Company has adopted a lag in reporting for certain equity method investees for which the Company cannot reliably obtain financial information on a regular basis. Distributions received reduce the Company’s carrying value of the investee and the cost basis if deemed to be a return of capital. For certain investments, the Company may apply the alternative fair value option to the investment at initial measurement. The fair value measurement of investments in which the fair value option is elected will be measured in accordance with ASC 825, Financial Instruments. For equity method investments and nonmarketable investments, impairment evaluation considers qualitative factors, including the financial conditions and specific events related to an investee, which may indicate the fair value of the investment is less than the carrying value. For held-to-maturity investments, impairment is evaluated using market values, when available, or the expected cash flows of the investment. These losses in value may be considered other than temporary impairment losses.
Leases	Leases The Company determines if an arrangement is a lease at inception of the arrangement and primarily enters into operating leases, as the lessee, for office space. The Company accounts for its leases in accordance with ASC 842, Leases, and recognizes a lease liability and right-of-use asset in the Consolidated Statement of Financial Position for contracts that it determines are leases or contain a lease. The Company evaluates leases at their inception to determine if they are to be accounted for as an operating lease or a finance lease. A lease is accounted for as a finance lease if it meets one of the following five criteria: (i) the lease has a purchase option that is reasonably certain of being exercised, (ii) the present value of the future cash flows is substantially all of the fair market value of the underlying asset, (iii) the lease term is for a significant portion of the remaining economic life of the underlying asset, (iv) the title to the underlying asset transfers at the end of the lease term, or (v) if the underlying asset is of such a specialized nature that it is expected to have no alternative uses to the lessor at the end of the term. Leases that do not meet the finance lease criteria are accounted for as an operating lease. At the inception of a finance lease, an asset and finance lease obligation are recorded at an amount equal to the lesser of the present value of the minimum lease payments and the property’s fair market value. Finance lease obligations are classified as either current or long-term based on the due dates of future lease payments, net of interest. The Company’s lease portfolio primarily consists of operating leases for office space in various countries around the world. The Company also has operating leases for office equipment and vehicles, which are not significant. The Company does not separate non-lease components from lease components for its office space and equipment operating leases and instead accounts for each separate lease component and its associated non-lease component as a single lease component. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the leases. The Company’s right-of-use assets and lease liabilities are recognized at lease commencement based on the present value of lease payments over the lease term. Lease right-of-use assets include initial direct costs incurred by the Company and are presented net of deferred rent and lease incentives. Absent an implicit interest rate in the lease, the Company uses its incremental borrowing rate, adjusted for the effects of collateralization, based on the information available at commencement in determining the present value of lease payments. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise those options. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Lease right-of-use assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The Company does not recognize a lease liability or right-of-use asset on the balance for short-term leases. Instead, the Company recognizes short-term lease payments as an expense on a straight-line basis over the lease term. A short-term lease is defined as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. When determining whether a lease qualifies as a short-term lease, the Company evaluates the lease term and the purchase option in the same manner as all other leases.
Intangible Assets Other Than Goodwill, Net	Intangible Assets Other Than Goodwill, Net The Company recognized certain finite-lived intangible assets as a result of the Business Combination. The Company’s finite-lived intangible assets consist of Customer Relationships, Trade Names, Investment Management Agreements, Internally Developed Software and Backlog. Finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives. The Company tests finite-lived intangible assets for impairment if certain events occur or circumstances change indicating that the carrying amount of the intangible asset may not be recoverable. The Company evaluates impairment by comparing the estimated fair value attributable to the intangible asset with its carrying amount. If an impairment exists, the Company adjusts the carrying value to equal the fair value by taking a charge through earnings. The Company also recognized certain indefinite-lived intangible assets as a result of the Business Combination consisting of certain investment management agreements. These indefinite-lived intangibles are not subject to amortization, but are evaluated for impairment at least annually. In assessing its indefinite-lived intangible assets for impairment, the Company has the option to first perform a qualitative assessment to determine whether events or circumstances exist that lead to a determination that it is unlikely that the fair value of the indefinite-lived intangible asset is less than its carrying amount. If the Company determines that it is unlikely that the fair value of an indefinite-lived intangible asset is less than its carrying amount, the Company is not required to perform any additional tests in assessing the asset for impairment. However, if the Company concludes otherwise or elects not to perform the qualitative assessment, then it is required to perform a quantitative analysis to determine if the fair value of an indefinite-lived intangible asset is less than its carrying value. If through this quantitative analysis the Company determines the fair value of an indefinite-lived intangible asset exceeds its carrying amount, the indefinite-lived intangible asset is considered not to be impaired. If the Company concludes that the fair value of an indefinite-lived intangible asset is less than its carrying value, an impairment loss will be recognized for the amount by which the carrying amount exceeds the indefinite-lived intangible asset’s fair value.
Goodwill	Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of the tangible and intangible assets acquired and the liabilities assumed. Under ASC 350, Intangibles—Goodwill and Other, goodwill is not amortized, but rather is subject to an annual impairment test. Goodwill represents the excess of consideration over identifiable net assets of an acquired business. Goodwill is allocated at a reporting unit level. The Company has two reporting units, Wealth & Capital Solutions and International Real Estate, and tests goodwill annually for impairment at each reporting unit. If, after assessing qualitative factors, the Company believes that it is more likely than not that the fair value of the reporting unit inclusive of goodwill is less than its carrying amount, the Company will perform a quantitative assessment to determine whether an impairment exists. If an impairment exists, the Company adjusts the carrying value of goodwill so that the carrying value of the reporting unit is equal to its fair value by taking a charge through earnings. The Company also tests goodwill for impairment in other periods if an event occurs or circumstances change such that it is more-likely-than-not to reduce the fair value of the reporting unit below its carrying amount.
Fixed Assets, Net	Fixed Assets, Net Fixed assets are recorded at cost, less accumulated depreciation and amortization, and are included in the “Other assets” line item in the Company’s Consolidated Statement of Financial Position. Fixed assets are depreciated or amortized on a straight-line basis, with the corresponding depreciation and amortization expense included within general, administrative and other expenses in the Company’s Consolidated Statement of Operations. The estimated useful life for leasehold improvements is the lesser of the remaining lease term and the life of the asset, while other fixed assets are generally depreciated over a period of one to ten years. Fixed assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Debt Obligations, Net	Debt Obligations, NetThe Company’s debt obligations are recorded at amortized cost, net of any debt issuance costs, discounts and premiums. Debt issuance costs are deferred and along with discounts and premiums are amortized to interest expense in the Consolidated Statement of Operations over the life of the related debt instrument using the effective interest method. Unamortized debt issuance costs, discounts and premiums are written off to net losses on retirement of debt in the Consolidated Statement of Operations when the Company prepays borrowings prior to maturity.
Tax Receivable Agreement	Tax Receivable Agreement The TRA liability represents amounts payable to certain pre-Business Combination equity holders of the Company. The portion of the TRA liability related to the Business Combination is deemed contingent consideration payable to the previous owners and is carried at fair value, with changes in fair value reported within Gain (loss) on TRA in the Consolidated Statement of Operations. Future exchanges of Class B Units for shares of Class A Common Stock may increase the TRA liability. Those increases will be carried at a value equal to the expected future payments due under the TRA. See Note 20 (Commitments and Contingencies) for a detailed discussion on TRA exchanges. For future changes in the TRA balance due to exchanges, the Company will record an initial estimate of future payments under the TRA portion as an adjustment to Additional paid-in capital in the Consolidated Statement of Financial Position. Subsequent adjustments to the liability for future payments under the TRA related to changes in estimated future tax rates or state income tax apportionment are recognized through current period earnings in the Consolidated Statement of Operations.
Warrant Liabilities, Earn-out Liabilities, at Fair Value, Equity-Classified Warrants, Derivative Financial Instruments	Warrant Liabilities The Company evaluated the Warrants issued in connection with the Business Combination in accordance with ASC 815-40, Contracts in an Entity’s Own Equity, and concluded that a provision in the warrant agreement related to certain tender or exchange offers precludes the Warrants from being accounted for as components of equity. As the Warrants meet the definition of a derivative, the Warrants are recorded as derivative liabilities on the balance sheet and measured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value recognized in Loss on warrant liability in the Consolidated Statement of Operations in the period of change. Prior to the Business Combination the Sponsor held private warrants that were contributed to the Company and legally cancelled. The contribution and cancellation of these warrants resulted in derecognition of the private warrants and accounted for in Additional paid-in capital as of January 1, 2023. The Company subsequently issued new warrants with terms identical to those of the public warrants to the Target Companies’ selling shareholders classified as derivative liabilities.Earn-out Liabilities, at Fair ValueThe Earn-out liabilities, at fair value, represents contingent consideration payable related to the Business Combination and various acquisitions by the Company. Changes in fair value are recognized in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change.Equity-Classified Warrants In connection with the Allianz and Constellation Transactions, the Company issued warrants to purchase shares of the Company’s Class A Common Stock. The Company evaluated the Allianz and Constellation Warrants in accordance with ASC 815-40, Contracts in an Entity’s Own Equity, and determined that the warrants are derivatives that meet the fixed-for-fixed equity classification criteria. As such, the Allianz and Constellation Warrants are classified as a component of equity in the Consolidated Statement of Financial Position. Derivative Financial Instruments The Company accounts for derivative financial instruments in accordance with ASC 815, Derivatives and Hedging, which requires the Company to recognize all derivative instruments on the Consolidated Statement of Financial Position as either assets or liabilities and to measure them at fair value each reporting period unless they qualify for normal purchases and normal sales exception. Normal purchases and normal sales contracts are those that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold by a reporting entity over a reasonable period in the normal course of business. In connection with the LXi disposal, the Company determined the contingent consideration meets the definition of a derivative and is recorded as Contingent consideration receivable on the Consolidated Statement of Financial Position as of December 31, 2024. The Contingent consideration receivable will be remeasured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value recognized in the Consolidated Statement of Operations in the period of change.
Non-controlling Interests	Non-controlling Interests Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the Company’s equity. Non-controlling interests consist of the amount of those interests at the date of the original Business Combination and the minority’s share of changes in equity since the date of the Business Combination. The proportions of profit and loss and changes in equity allocated to the owners of the parent and to the non-controlling interests are determined on the basis of existing ownership interests.
Segment Reporting	Segment ReportingOur business is organized into two operating segments: Wealth & Capital Solutions and International Real Estate. As of the third quarter ended September 30, 2024, the Company changed the composition of its reportable segments and recast prior period amounts to conform to the Company’s current period segment information. Segment information is utilized by the Company’s chief operating decision maker, which is our Chief Executive Officer, to assess performance and to allocate resources.
Interest Income	Interest Income Interest income is earned on the Company’s cash balances, money market accounts, or through its investments in exchange-traded notes. These generally include debt securities held on a short- or medium-term basis when the Company has excess cash. The Company recognizes and records interest income in Interest income in the Consolidated Statement of Operations. Dividend income is earned through investments in common stock, mutual funds, and exchange-traded funds. Dividend income is recorded on the date received and is included in Interest income in the Consolidated Statement of Operations.
Interest Expense	Interest Expense Interest is related to the Company’s debt as well as investments in exchange-traded notes. These generally include debt securities held on a short- or medium-term basis when the Company has excess cash. The Company recognizes and records interest expense in Interest expense in the Consolidated Statement of Operations.
Other Income and Expenses	Other Income and Expenses Other than Interest income and Interest expense discussed above, other income and expenses include unrealized gains (losses) on investments, income from equity method investees, and other items. The Company holds investments in common stock, mutual funds, exchange-traded funds, and exchange-traded notes, which represent investments in equity and debt securities. The Company earns realized and unrealized gains and losses which depend on investment performance. Changes in fair value of these investments are recorded in Gain (loss) on investments in the Consolidated Statement of Operations. The Company holds interests in various affiliated limited partnerships and limited liability companies, whose purpose is to achieve capital appreciation through investments in financial instruments and investment vehicles. The Company accounts for investments in which it has significant influence but not a controlling financial interest using the equity method of accounting and may earn income related to its equity in income of equity method investees. The equity method investments are in various fund complexes, including funds focused on infrastructure and utilities, high income yields, and multi-strategy, among others. Changes in fair value of these investments are recorded in Gain (loss) on investments in the Consolidated Statement of Operations.
Held for Sale Accounting	Held for Sale AccountingIn circumstances when the Company is evaluating its components, we may establish plans that require us to evaluate whether a component qualifies for held-for-sale accounting under ASC 360, Property, Plant, and Equipment. If a sale is deemed probable within a twelve-month period, the component is classified to either the assets held for sale or liabilities held for sale line items on the Consolidated Statement of Financial Position. The disposal group will be measured at the lower of its carrying amount or fair value less the cost to sell. Any long-lived assets shall not be depreciated or amortized while classified as held for sale. Assets and liabilities of FOS and LRA are presented as held for sale on our Consolidated Statement of Financial Position as of December 31, 2023.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company has incorporated the requirements of this guidance into its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The amendments in this update related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments are effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company does not expect the impact of this guidance to be material to its consolidated financial statements. In January 2024, the FASB issued ASU 2024-01, Compensation—Stock Compensation (Topic 718) - Scope Application of Profits Interest and Similar Awards. The amendments in this update improve US GAAP by adding an illustrative example that demonstrates how an entity should apply the scope guidance in paragraph 718-10-15-3 to determine whether a profits interest award should be accounted for in accordance with Topic 718. The amendments in paragraph 718-10-15-3 improve its overall clarity and operability without changing the guidance. The amendments are effective for annual periods beginning after December 15, 2024, and interim periods within annual periods beginning after December 15, 2025, with early adoption permitted. The Company does not expect the impact of this guidance to be material 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). The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses at each interim and annual reporting period. The amendments are 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 impact of this guidance to be material to its consolidated financial statements. The Company has considered all newly issued accounting guidance that is applicable to its operations and the preparation of its audited consolidated statements, including those it has not yet adopted. ASUs not listed above were assessed and either determined to be not applicable or expected to have minimal impact on the Company’s 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. •AWMS Earn-Out 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 rating. As of September 30, 2024, the settlement amount became known, which is based on actual revenues received. As such, the use of the Level 3 valuation technique has been discontinued. Additionally, during the fourth quarter of 2024, the AWMS earn-out liability was fully paid. •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. •Earn-In Consideration Payable - The Company’s valuation approach utilized a Monte Carlo simulation to estimate future revenue and the implied earn in payment discounted using the liability discount rate which was estimated based on the credit rating of TWMH. On July 14, 2023, the Company amended the Holbein purchase agreement related to the Holbein acquisition discussed in Note 5 (Equity-Based Compensation), which crystallized the contingent earn-in consideration amount and discontinued the use of a Level 3 valuation technique. •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. •Contingent Consideration Receivable - The Company utilized a Monte Carlo simulation to estimate the future share price of the acquirer of LRA, and the implied contingent consideration discounted using the risk-free rate and the acquirer’s estimated credit spread. •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.

Variable Interest Entities

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

The Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and continuously reconsiders that conclusion. In evaluating whether the Company is the primary beneficiary, the Company evaluates its direct and indirect economic interests in the entity. The consolidation analysis is generally performed qualitatively; however, if the primary beneficiary is not readily determinable, a quantitative analysis may also be performed. This analysis requires judgment, including: (1) determining whether the equity investment at risk is sufficient to permit the entity to finance its activities without additional subordinated financial support, (2) evaluating whether the equity holders, as a group, can make decisions that have a significant effect on the success of the entity, (3) determining whether two or more parties’ equity interests should be aggregated, (4) determining whether the equity investors have proportionate voting rights to their obligations to absorb losses or rights to receive returns from an entity and (5) evaluating the nature of relationships and activities of the parties involved in determining which party within a related-party group is most closely associated with a VIE and therefore would be deemed the primary beneficiary.

VIEs include certain private equity, real estate, and CLO vehicles. The purposes of such VIEs is to provide strategy-specific investment opportunities for investors in exchange for management and performance-based fees.

The Company holds variable interests in certain VIEs which are not consolidated because it was determined that the Company is not the primary beneficiary of such VIEs. The Company’s involvement with such entities is in the form of direct and indirect equity interests and fee arrangements. The Company’s maximum exposure to loss relating to non-consolidated VIEs is the carrying value of such investments, and in certain instances, its initial investment in and loans to certain VIEs. The Company’s maximum exposure to loss relating to non-consolidated VIEs is as follows:


(Dollars in Thousands)	As of December 31, 2024		As of December 31, 2023
Non-Consolidated VIEs





Unconsolidated VIE assets	$	3,559,742	$	3,777,125



Unconsolidated VIE liabilities	$	205,021	$	215,896
Equity interests on the Consolidated Statement of Financial Position	6,360		9,866
AlTi exposure	$	6,360	$	10,273

Summary of Significant Accounting Policies - Preferred Stock Tranche Liability, At Fair Value (Details) - USD ($) $ in Millions	Feb. 22, 2024	Jun. 07, 2023
Class of Warrant or Right [Line Items]
Number of securities called by warrants or rights (in shares)		19,892,387
Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Tranche Right \| Series A Preferred Stock \| Allianz Investment Agreement
Class of Warrant or Right [Line Items]
Number of securities called by warrants or rights (in shares)	50,000
Value of securities called by warrant or right	$ 50

Other assets, net and Other liabilities, net - Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	May 09, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Payroll	$ 0		$ 5,202
Corporation tax payable	2,342		0
Sundry	3,556		3,422
Other	1,563		6,775
Accrued legal	5,125		0
Other liabilities, net	15,925		22,533
Related party
Property, Plant and Equipment [Line Items]
Other liabilities, net	3,600		8,400
AWMS deferred cash consideration
Property, Plant and Equipment [Line Items]
Deferred consideration	0		7,135
PW deferred consideration
Property, Plant and Equipment [Line Items]
Deferred consideration	$ 3,339	$ 3,328	$ 0

Related Party Transactions - Related Party Transactions (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Equity method investments	$ 27,517	$ 14,194
Additional paid-in capital	652,857	536,509
Series A Preferred Stock
Related Party Transaction [Line Items]
Preferred stock	142,858	0
Series C Preferred Stock
Related Party Transaction [Line Items]
Preferred stock	160,808	0
Related party
Related Party Transaction [Line Items]
Equity method investments	20,300	0
Related party \| Delayed share purchase agreement
Related Party Transaction [Line Items]
Additional paid-in capital	40	(1,178)
Related party \| Allianz warrant \| Warrants, net of issuance costs
Related Party Transaction [Line Items]
Additional paid-in capital	6,591	0
Related party \| Constellation warrant \| Warrants, net of issuance costs
Related Party Transaction [Line Items]
Additional paid-in capital	3,003	0
Related party \| Series A Preferred Stock
Related Party Transaction [Line Items]
Preferred stock	142,858	0
Related party \| Series C Preferred Stock
Related Party Transaction [Line Items]
Preferred stock	160,808	0
Other assets \| Related party
Related Party Transaction [Line Items]
Related Party Receivables	3,500	6,700
Other assets \| Equity method investee
Related Party Transaction [Line Items]
Related Party Receivables	3,089	5,948
Fees receivable, net \| Related party \| Fees receivable
Related Party Transaction [Line Items]
Related Party Receivables	116	247
Other Liabilities \| Equity method investee
Related Party Transaction [Line Items]
Related Party Payables	(223)	(1,277)
Delayed share purchase agreement \| Related party
Related Party Transaction [Line Items]
Related Party Payables	0	(1,818)
Accrued compensation and profit sharing \| Related party
Related Party Transaction [Line Items]
Related Party Payables	0	(282)
Preferred stock tranche liability \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(3,940)	0
Due from Certain TWMH Members, TIG GP Members and TIG MGMT Members \| Other assets \| Related party
Related Party Transaction [Line Items]
Related Party Receivables	435	712
Due from TIG related fee arrangements \| Fees receivable, net \| Related party \| Fees receivable
Related Party Transaction [Line Items]
Related Party Receivables	804	15,822
Due to Certain TWMH Members, TIG GP Members and TIG MGMT Members \| Other Liabilities \| Related party
Related Party Transaction [Line Items]
Related Party Payables	0	0
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	(28,765)	(17,607)
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	(23,848)	(62,380)
AlTi Wealth Management (Switzerland) SA (“AWMS”) \| Other Liabilities \| Related party
Related Party Transaction [Line Items]
Deferred cash consideration	0	(7,135)
AlTi Wealth Management (Switzerland) SA (“AWMS”) \| Earn-out liabilities, at fair value \| Related party
Related Party Transaction [Line Items]
Related Party Payables	0	(1,064)
East End Advisors, LLC ("EEA") \| Earn-out liabilities, at fair value \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(29,871)	0
Pointwise Partners Limited ("PW") \| Other Liabilities \| Related party
Related Party Transaction [Line Items]
Deferred cash consideration	(3,339)	0
Envoi, LLC (“Envoi”) \| Earn-out liabilities, at fair value \| Related party \| Envoi earn-out consideration liability
Related Party Transaction [Line Items]
Related Party Payables	(9,600)	0
Envoi, LLC (“Envoi”) \| Earn-out liabilities, at fair value \| Related party \| Envoi earn-out growth consideration liability
Related Party Transaction [Line Items]
Related Party Payables	$ (1,320)	$ 0

Description of the Business (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Structure of Related Business Entities

AlTi’s capital structure as of December 31, 2024 is reflected below:

https://cdn.kscope.io/890d8e0389091c99841c7bc799172e03-FN 1 - AlTi - Updated Structure Chart.jpg

Schedule of Stock by Class

The following table presents the number of shares of the Company that were issued and outstanding as of December 31, 2024 and December 31, 2023:


	As of December 31, 2024	As of December 31, 2023
Class A Common Stock	93,686,980	65,110,875
Class B Common Stock	46,138,876	53,219,713
Series A Preferred Stock	140,000	—
Series C Preferred Stock	150,000	—

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-SubTopic 10
-Topic 210
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-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.5-02(28))
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-4

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-10

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Goodwill, net

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, net

The following tables provide a reconciliation of Goodwill, net reported on the Consolidated Statement of Financial Position and Consolidated Statement of Financial Position as of December 31, 2024 and December 31, 2023, respectively.


	As of December 31, 2024
(Dollars in Thousands)	Wealth & Capital Solutions		International Real Estate		Total

Beginning Balance
Gross goodwill	$	321,154	$	90,480	$	411,634
Accumulated impairment losses	—		—		—
Net goodwill:	$	321,154	$	90,480	$	411,634

Goodwill acquired during the period	$	44,065	$	—	$	44,065
Impairment charges	(29,367)		(40,357)		(69,724)
Resegmentation of U.S. Asset Management (1)	40,625		(40,625)		—
Measurement period adjustments	3,600		—		3,600
Currency translation and other adjustments	(2,235)		(9,498)		(11,733)
	$	56,688	$	(90,480)	$	(33,792)
Ending Balance
Gross goodwill	$	377,842	$	—	$	377,842
Accumulated impairment losses	—		—		—
Net goodwill	$	377,842	$	—	$	377,842

(1) As of the third quarter ended September 30, 2024, the Company changed its segments. Prior year disclosures have not been restated. See Note 18 (Segment Reporting) for more information.


	As of December 31, 2023
(Dollars in Thousands)	Wealth Management		Strategic Alternatives				Total

Beginning Balance
Gross goodwill	$	298,118	$	232,429	$	—	$	530,547

Net goodwill:	$	298,118	$	232,429			$	530,547

Goodwill acquired during the period	$	18,972	$	—			$	18,972
Impairment charges	—		(153,859)				(153,859)

Currency translation and other adjustments	4,064		11,910		—		15,974
	$	23,036	$	(141,949)			$	(118,913)
Ending Balance
Gross goodwill	$	321,154	$	90,480			$	411,634
Net goodwill	$	321,154	$	90,480			$	411,634

As part of the Company’s strategic review of its Real Estate Businesses, the Company realigned its operating segments which resulted in a change to our reporting units as of the third quarter ended September 30, 2024. We determined that triggering events had occurred due to changes in the composition of our reporting units in addition to declining revenues and increased expenses associated with the Real Estate Businesses. As such, a goodwill impairment test of the reporting units was performed prior to their realignment. During the year ended December 31, 2024, the Company recognized an impairment charge of $44.9 million related to TIG’s Investment management agreements (“IMAs”), which is classified as an indefinite-lived intangible asset. See Note 11 (Intangible Assets, Net) for further details. Additionally, during the year ended December 31, 2024, the Company recognized a $29.4 million and $40.4 million impairment to goodwill for its Wealth & Capital Solutions and International Real Estate segments, respectively. The primary drivers of impairment are the financial projections and discount rate for the IMAs and financial projections, discount rate, and market multiples for goodwill. As of December 31, 2024, all goodwill allocated to the International Real Estate segment is written off. See Note 18 (Segment Reporting) for further information about changes to the Company’s segments.

During the year ended December 31, 2023, the Company evaluated as of September 30, 2023 whether circumstances existed, indicating that the fair value of its reporting units may have declined to an amount lower than the carrying value of goodwill recorded on its Consolidated Statement of Position as of that date. The Company considered a variety of factors, including the impact of prevailing market conditions, persistently high interest rates and uncertainties caused by inflation and certain world events as well as the recent actions taken by the Company to restructure and reposition certain of the businesses within its reporting units. Based on the evaluation of these factors, the Company concluded that triggering events had occurred during the period that required the Company to assess whether the goodwill allocated to its legacy International Real Estate reporting unit was impaired. Accordingly, the Company performed a goodwill impairment test, which compared the estimated fair value of the legacy International Real Estate reporting unit to its carrying value. The Company utilized the discounted cash flow method under the income approach and the Guideline Public Company Method (“GPCM”) under the market approach, in equal weightings, in determining a fair value for the reporting unit. The results of the impairment test performed at September 30, 2023 indicated that the carrying value of the legacy International Real Estate reporting unit exceeded its estimated fair value by $153.6 million. Consequently, the Company recognized a goodwill impairment charge for this amount.

The assumptions used in the discounted cash flow analyses require significant judgment, including judgment about appropriate growth rates and the amount and timing of expected future cash flows. The Company’s forecasted cash flows were based on its current assessment of the markets and on assumed growth rates expected as of the measurement date. The key assumptions used in the cash flows were revenue growth rates, operating expenses, gross margins, and discount rates that appropriately reflect the risks inherent in the cash

flow streams. Under the GPCM approach, the significant assumptions include the consideration of stock price and financial metrics from guideline companies.

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 reporting units could be required, which could be material to the consolidated financial statements.

Business Combinations and Divestitures

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Business Combinations and Divestitures

AlTi Global Business Combination

On January 3, 2023, the Company entered into the Business Combination described in Note 1 (Description of the Business). The primary purpose of the Business Combination was to combine established high-growth companies that can benefit from access to capital and public markets and continue value-creation by management.

The Business Combination was a forward merger and is accounted for using the acquisition method of accounting. The Company was the accounting acquirer and Umbrella, including the Target Companies, was the accounting acquiree. The Company was determined to be the accounting acquirer because Umbrella met the definition of a VIE, and the Company was the primary beneficiary of Umbrella. ASC 805, Business Combinations, requires the primary beneficiary of a VIE to be identified as the accounting acquirer. The Company is the primary beneficiary because it controls all activities of Umbrella, and the non-managing members of Umbrella do not have substantive kick-out or participating rights.

The Business Combination met the requirements to be considered a business combination under ASC 805. The assets and liabilities acquired from the Target Companies, affected for adjustments to reflect fair market values assigned to assets purchased and liabilities assumed, and results of operations, are included in the Company’s consolidated financial statements from the date of acquisition. The Company has allocated the purchase price to the tangible and identifiable intangible assets based on their estimated fair market values at the acquisition date as required under ASC 805. The excess of the purchase price over the fair value of the net identifiable tangible and intangible assets was recorded as goodwill and is deductible for tax purposes.

The Business Combination resulted in the Company acquiring 51% of the equity interests of Umbrella which holds 100% of the equity interests of Alvarium, TWMH, and TIG. The remainder of Umbrella is held by the historical equity holders of TWMH and TIG through their ownership of Class B Units, which are presented as non-controlling interest on the Company’s Consolidated Statement of Financial Position.

As a result of the Business Combination, Umbrella, which represents substantially all of the economic activity of the Company, became a subsidiary of the Company. Since the Company is the sole managing member of Umbrella following the Business Combination, the Class B Units held by the former equity holders of TWMH and TIG are classified as non-controlling interests in the Company’s financial statements. An allocation of net income or loss representing the percentage of ownership of Umbrella not controlled by the Company will be attributed to the non-controlling interests in the Company’s Consolidated Statement of Operations.

Each Class B Unit of Umbrella is paired with a share of Class B Common Stock (collectively, the “Paired Interests”). Pursuant to the Umbrella LLC Agreement, a Paired Interest is exchangeable at any time after the

lock-up period for a share of Class A Common Stock on a one-for-one basis, subject to equitable adjustments for stock splits, stock dividends and reclassifications. As the holder exchanges the Paired Interests pursuant to the Umbrella LLC Agreement, the shares of Class B Common Stock included in the Paired Interests will automatically be canceled and the Class B Common Units included in the Paired Interests shall be automatically transferred to the Company and converted into and become an equal number of Class A Common Units in Umbrella. Alternatively, if approved by the disinterested members of the board of directors of the Company, such Class B Common Stock can be settled in cash funded from the proceeds of a private sale or a public offering of Class A Common Stock.

The Sponsor, in connection with the initial public offering prior to the Business Combination, purchased 8,625,000 shares of Class B Common Stock (the “Founder Shares”) for $25,000 (approximately $0.03 per share). These shares had no value until the Business Combination completed. At this point, the Founder Shares automatically converted into Class A Common Stock. This conversion was solely contingent upon the completion of the Business Combination and did not include any future service requirements. As such, this cost of 8,625,000 shares at $10.33 per share for $89.1 million is presented “on the line” and is not reflected in the financial statements presented. “On the line” describes those expenses triggered by the consummation of a business combination that are not recognized in the Consolidated Statement of Operations as they are not directly attributable to either period but instead were contingent on the Business Combination.

As part of the Business Combination during the year ended December 31, 2023, the Company incurred $17.8 million of acquisition-related costs which are included predominantly in the “Professional fees” line in the Consolidated Statement of Operations. In addition, the Company incurred $4.6 million of debt issuance costs related to debt issued to finance the Business Combination. Of the total debt issuance costs, $1.8 million is related to the Term Loan and drawn amount of the Revolver and is recorded as an offset to the “Debt, net of unamortized deferred financing cost” line item of the Consolidated Statement of Financial Position. $2.8 million of the debt issuance costs related to the undrawn amount of the Revolver were recorded in the “Other assets” line item of the Consolidated Statement of Financial Position.

The Business Combination was accounted for using the acquisition method of accounting, and the fair value of the total purchase consideration transferred was $1,071.1 million. Included in total purchase consideration is contingent consideration of $85.1 million, which is payable to the selling shareholders upon achievement of certain volume-weighted average price targets for the shares of Class A Common Stock or upon a change of control of the Company occurring between the Closing Date and the fifth anniversary of the Closing Date. Since this liability meets the definition of a derivative, it is recorded at fair value as a derivative liability in Earn-out liabilities, at fair value on the Consolidated Statement of Financial Position and measured at fair value at the acquisition date and at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value to be recognized in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change.


(Dollars in Thousands)	Amount

Cash consideration	$	99,999
Equity consideration:
Class A	$	294,159
Class B	$	573,205
Warrants	$	4,896
Earn-out consideration	$	85,097
Tax Receivable Agreement	$	13,000
Payment of assumed liabilities	$	760
Total purchase consideration transferred	$	1,071,116

The following table sets forth the fair values of the assets acquired and liabilities assumed in connection with the Business Combination:


(Dollars in Thousands)	Business Combination Date Fair Value

Cash and cash equivalents	$	24,023
Management/advisory fees receivable	42,381
Investments at fair value	148,674
Equity method investments	42,185
Property, plant and equipment	3,996
Intangible assets	520,161
Goodwill	530,546
Operating lease right-of-use assets	28,487
Other assets	47,251
Total Assets Acquired	$	1,387,704
Accounts payable and accrued expenses	72,022
Accrued compensation and profit sharing	25,051
Accrued member distributions payable	12,803
Delayed share purchase agreement	1,818
Earn-in consideration payable	1,519
Operating lease liabilities	29,047
Debt	124,533
Deferred tax liability, net	34,640
Other liabilities	15,149
Total Liabilities Assumed	$	316,582
Total Assets Acquired and Liabilities Assumed	1,071,122
Non-controlling interest in subsidiaries	(6)
	$	1,071,116

Fair Value of Net Assets Acquired and Intangibles

In accordance with ASC 805, the assets and liabilities were recorded at their respective fair values as of January 1, 2023. The Company developed the fair value of intangible assets, which include trade names, customer relationships, investment management agreements, developed technology and backlog, using various techniques including discounted cash flow, relief from royalty, multi-period excess earnings, and a Monte Carlo simulation approach. The Company developed the fair value of equity method investments using various techniques including discounted cash flow and a guideline public company approach. The investments at fair value and earn-in consideration are carried at fair value and no adjustment was made. 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 Business Combination, which does not qualify as a separately recognized intangible asset. Goodwill was initially allocated to the two reporting segments that existed at the time of the Business Combination. During the third quarter ended September 30, 2024, we changed the composition of our reporting and created two new segments — Wealth & Capital Solutions and International Real Estate. The goodwill

allocated between Wealth & Capital Solutions and International Real Estate as of December 31, 2024, is $377.8 million and $0.0 million, respectively.

Below is a summary of the intangible assets acquired in the Business Combination (in thousands):


(Dollars in Thousands)	Acquisition Date Fair Value		Estimated Life (Years)

Trade Names	$	14,695	9.9
Customer Relationships	163,392		27.1
Investment Management Agreements (definite life)	94,575		18.4
Investment Management Agreements (indefinite life)	245,900		Indefinite
Developed Technology	1,000		5
Backlog	599		0.5
Total intangible assets acquired	$	520,161

The intangible assets acquired and subject to amortization have a weighted average useful life of 23.0 years. During the third quarter ended September 30, 2024, the carrying value of the indefinite lived intangible assets was reassessed in connection with the changes in the composition of our reporting segments which resulted in an impairment charge to reduce the carrying value of the indefinite lived intangible assets by $44.9 million.

Acquisition of AlTi Wealth Management (Singapore) Pte Limited

On April 6, 2023 (the “ALWP Acquisition Date”), the Company acquired all of the issued and outstanding ownership and membership interests of AlTi Wealth Management (Singapore) Pte Limited (“ALWP”) pursuant to the terms of the share purchase agreement between the Company and ALWP (the “ALWP Acquisition”). The primary purpose of the ALWP Acquisition is to acquire ALWP’s extensive business within Southeast Asia to further expand the Company’s global operations.

The ALWP Acquisition met the requirements to be considered a business combination under ASC 805. The assets and liabilities acquired from ALWP, 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 consolidated financial statements from the ALWP Acquisition Date. The Company has allocated the purchase price to the tangible and identifiable intangible assets and liabilities assumed based on their estimated fair market values at the ALWP Acquisition Date as required under ASC 805.

The ALWP Acquisition was accounted for using the acquisition method of accounting and the fair value of the total purchase consideration transferred was $15.5 million, with the total amount paid in cash. The Company will make second and third payments to the sellers of ALWP on the third and fifth anniversary of the ALWP Acquisition Date, respectively. Management has determined that these payments will be treated as future compensation expense in the Company’s Consolidated Statement of Operations. There is no contingent consideration as part of the ALWP Acquisition.

During the year ended December 31, 2023, the Company incurred $0.4 million of direct acquisition-related expenses, which are recognized in the Professional fees line item of the Consolidated Statement of Operations.

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


(Dollars in Thousands)	ALWP Acquisition Date Fair Value
Cash and cash equivalents	$	1,092
Management/advisory fees receivable	1,952
Property, plant and equipment	644
Intangible assets	12,300
Goodwill	3,836
Operating lease right-of-use assets	1,048
Other assets	474
Total Assets Acquired	21,346
Accounts payable and accrued expenses	368
Operating lease liabilities	1,048
Other liabilities	4,400
Total Liabilities Assumed	$	5,816
Total Assets Acquired and Liabilities Assumed	$	15,530

Fair Value of Net Assets Acquired and Intangibles

Goodwill is comprised of expected synergies for the combined operations, including employees acquired in a business combination. The total amount of goodwill arising in the transaction was allocated to the Company’s Wealth & Capital Solutions segment. The components of goodwill do not qualify as a separately recognized intangible asset. The Company will test for impairment annually to determine changes in goodwill at the Wealth & Capital Solutions reporting unit.

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


(Dollars in Thousands)	ALWP Acquisition Date Fair Value		Estimated Life (Years)
Customer Relationships	$	12,300	10
Total Intangible Assets	$	12,300

The fair value for customer relationships was determined using the multi-period excess earnings method. The intangible assets are subject to amortization over a useful life of 10 years.

The results of operations for the ALWP Acquisition have been included in the Company’s consolidated financial statements from the date of ALWP Acquisition.

Acquisition of AlTi Wealth Management (Switzerland) SA

On August 2, 2023, (the “AWMS Acquisition Date”), the Company acquired the remaining 70% of the issued and outstanding ownership and membership interests of AWMS, increasing its interest in AWMS from 30% to 100% (the “AWMS Acquisition”).

The AWMS Acquisition met the requirements to be considered a business combination under ASC 805. The assets and liabilities acquired from AWMS, 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 consolidated financial statements from the AWMS Acquisition Date. The Company has allocated the purchase price to the tangible and identifiable intangible assets and liabilities assumed based on their estimated fair market values at the AWMS Acquisition Date as required under ASC 805.

The AWMS Acquisition was accounted for using the acquisition method of accounting and the fair value of the total purchase consideration transferred was $16.8 million. The total purchase consideration transferred includes cash consideration, equity consideration, deferred cash consideration, earn-out consideration (“AWMS earn-out liability”), and the payment of assumed liabilities. Since the AWMS earn-out liability meets the definition of a derivative, it is recorded at fair value as a derivative liability in Earn-out liabilities, at fair value on the Consolidated Statement of Financial Position and measured at fair value at the acquisition date and at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value to be recognized in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change. The total purchase consideration includes the following amounts:


(Dollars in Thousands)	AWMS Amount
Initial Cash consideration	$	5,711
Equity consideration	1,459
Deferred cash consideration	6,695
Earn-out consideration	2,721
Payment of assumed liabilities	168
Total purchase consideration transferred	$	16,754

The deferred cash consideration and the earn-out consideration were both paid during the year ended December 31, 2024.

At the AWMS Acquisition Date, as required by ASC 805, the Company’s existing 30% equity interest in AWMS, which was previously recognized as an equity method investment, was revalued to reflect the fair value at this date. The fair value of this existing equity method investment was $7.4 million, which was calculated as 30% of the fair value of AWMS total equity value (determined using the discounted cash flow method of the income approach, less debt), excluding the impact of any synergies or control premium that would be realized by a controlling interest. This change in fair value resulted in a gain of $1.9 million, which was recognized during the year ended December 31, 2023 in the Gain (loss) on investments line of the Consolidated Statement of Operations.

The Company incurred $0.01 million in direct acquisition-related expenses, which are recognized in the Professional fees line item of the Consolidated Statement of Operations.

The following table sets forth the fair values of the assets acquired and liabilities assumed in connection with the AWMS business combination:


(Dollars in Thousands)	AWMS Acquisition Date Fair Value
Cash and cash equivalents	$	1,401
Management/advisory fees receivable	1,057
Equity method investments	57
Intangible assets	9,679
Goodwill	15,146
Operating lease right-of-use assets	298
Other assets	323
Total Assets Acquired	27,961
Accounts payable and accrued expenses	784
Operating lease liabilities	298
Other liabilities	2,944
Total Liabilities Assumed	$	4,026
Total Assets Acquired and Liabilities Assumed	$	23,935

Fair Value of Net Assets Acquired and Intangibles

& Capital Solutions reporting unit. The Company will also test goodwill for impairment in other periods if an event occurs or circumstances change that may indicate impairment.

Below is a summary of the intangible assets acquired in the AWMS business combination:


(Dollars in Thousands)	AWMS Acquisition Date Fair Value		Estimated Life (Years)
Customer Relationships	$	9,679	14
Total Intangible Assets	$	9,679

The fair value for customer relationships was determined using the multi-period excess earnings method. The intangible assets are subject to amortization over a useful life of 14 years.

The results of operations for the AWMS Acquisition have been included in the Company’s consolidated financial statements from the AWMS Acquisition Date. Prior to the AWMS Acquisition Date, the results of AWMS were included as a 30% held equity method investment.

Acquisition of East End Advisors, LLC

On April 3, 2024 (the “EEA Acquisition Date”), the Company acquired all of the issued and outstanding ownership and membership interests of East End Advisors, LLC (“East End Advisors”) pursuant to the terms of the purchase agreement between the Company and EEA Holding Company, LLC (the “EEA Acquisition”).

The EEA Acquisition met the requirements to be considered a business combination under ASC 805. The assets and liabilities acquired from East End Advisors, 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 consolidated financial statements from the EEA Acquisition Date. The Company has allocated the purchase price to the tangible and identifiable intangible assets and liabilities assumed based on their estimated fair market values at the EEA Acquisition Date as required under ASC 805.

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. Included in the total purchase consideration is 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. The contingent consideration was measured at fair value at the acquisition date and recorded within the Earn-out liabilities, at fair value line item in the Consolidated Statement of Financial Position.


(Dollars in Thousands)	Amount
Cash consideration	$	69,013
Contingent consideration installments	23,308
Payment of assumed liabilities	793
Total purchase consideration transferred	$	93,114

The Company incurred $1.3 million of direct acquisition-related expenses, which are recognized in the Professional fees line item of the Consolidated Statement of Operations.

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


(Dollars in Thousands)	EEA Acquisition Date Fair Value
Cash and cash equivalents	$	218
Management/advisory fees receivable	12
Intangible assets	62,700
Goodwill	30,094
Operating lease right-of-use assets	2,326
Other assets	1,181
Total Assets Acquired	96,531
Accounts payable and accrued expenses	79
Operating lease liabilities	2,326
Other liabilities	1,012
Total Liabilities Assumed	$	3,417
Total Assets Acquired and Liabilities Assumed	$	93,114

The purchase price allocation is preliminary and subject to change during the measurement period, which is not to exceed one year from the EEA Acquisition Date. During the year ended December 31, 2024, the Company made a measurement period adjustment to the purchase price allocation, which resulted in an increase to goodwill and a decrease to intangibles of $4.6 million. 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.

Fair Value of Net Assets Acquired and Intangibles

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 1, 2024. The Company developed the fair value of intangible assets, which includes trade names, customer relationships and developed technology, using various techniques including relief of royalty, excess earnings 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 Business Combination, which does not qualify as a separately recognized intangible asset. The total amount of goodwill arising in the transaction was allocated to the Company’s Wealth & Capital Solutions segment.

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


(Dollars in Thousands)	EEA Acquisition Date Fair Value		Estimated Life (Years)
Trade Name	$	1,400	5
Customer Relationships	$	61,000	17
Developed Technology	$	300	5
Total Intangible Assets	$	62,700

The results of operations for EEA have been included in the Company’s consolidated financial statements from the EEA Acquisition Date.

Acquisition of Pointwise Partners Limited

On May 9, 2024 (the “PW Acquisition Date”), the Company 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”).

The PW Acquisition met the requirements to be considered a business combination under ASC 805. The assets and liabilities acquired from PW, 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 consolidated financial statements from the PW Acquisition Date. The Company has allocated the purchase price to the tangible and identifiable intangible assets and liabilities assumed based on their estimated fair market values at the PW Acquisition Date as required under ASC 805.

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, estimated deferred consideration, and the settlement of pre-existing relationships as summarized below:


(Dollars in Thousands)	PW Amount
Initial Cash consideration	$	1,735
Equity consideration	1,705
Deferred consideration	3,328
Settlement of pre-existing relationships	1,186
Total purchase consideration transferred	$	7,954

The estimated deferred consideration is payable in cash and equity and is due for payment no later than March 1, 2025. In addition to the above, an additional amount of consideration to be paid fully in equity to PW employees upon meeting certain performance milestones was determined to be compensation rather than consideration transferred. Refer to Note 5 (Equity-Based Compensation) for additional details.

At the PW Acquisition Date, as required by ASC 805, the Company’s existing 50% equity in PW, which was previously recognized as an equity method investment, was revalued to reflect the fair value at this date. The fair value of this existing equity method investment was $6.2 million, which was calculated as 50% of the fair value of PW total equity value, excluding the impact of any synergies or control premium that would be realized by a controlling interest. During the year ended December 31, 2024, a gain of $4.5 million, representing the change in fair value, has been recognized in the Gain (loss) on investments line of the Consolidated Statement of Operations.

The following table sets forth the fair values of the assets acquired, and liabilities assumed in connection with the PW business combination:


(Dollars in Thousands)	PW Acquisition Date Fair Value
Cash and cash equivalents	$	269
Intangible assets	9,700
Goodwill	6,747
Other assets	20
Total Assets Acquired	16,736
Accounts payable and accrued expenses	589
Other liabilities	292
Deferred tax liability	1,749
Total Liabilities Assumed	$	2,630
Total Assets Acquired and Liabilities Assumed	$	14,106

The purchase price allocation is preliminary and subject to change during the measurement period, which is not to exceed one year from the PW Acquisition Date. 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.

Fair Value of Net Assets Acquired and Intangibles

Goodwill is comprised of expected synergies of the combined operations, including employees acquired in a business combination. The total amount of goodwill arising in the transaction was allocated to the Company’s Wealth & Capital Solutions segment. The components of goodwill do not qualify as a separately recognized intangible asset. The Company will test for impairment in other periods if an event occurs or circumstances change that may indicate impairment.

Below is a summary of the intangible assets acquired in the PW business combination:


(Dollars in Thousands)	PW Acquisition Date Fair Value		Estimated Life (Years)
Customer Relationships	$	9,700	14
Total Intangible Assets	$	9,700

The fair value of customer relationships was determined using the multi-period excess earnings method. The intangible assets are subject to amortization over a useful life of 14 years.

The results of the PW Acquisition have been included in the Company’s consolidated financial statements from the PW Acquisition Date. Prior to the PW Acquisition Date, the results of PW were included as a 50% held equity method investment.

Acquisition of Envoi, LLC

On July 1, 2024 (the “Envoi Acquisition Date”), the Company purchased substantially all of the assets of Envoi, LLC (“Envoi”) pursuant to the terms of the asset purchase agreement by and among the Company and Envoi, as well as Envoi’s individual members (the “Envoi Acquisition”).

The Envoi Acquisition met the requirements to be considered a business combination under ASC 805. The assets and liabilities acquired from Envoi, 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 consolidated financial statements from the Envoi Acquisition Date. The Company has allocated the purchase price to the tangible and identifiable intangible assets and liabilities assumed based on their estimated fair market values at the Envoi Acquisition Date as required under ASC 805.

The Envoi Acquisition was accounted for using the acquisition method of accounting and the fair value of the total purchase consideration was $34.3 million. Included in the total consideration is cash consideration of $25.3 million, and estimated contingent consideration of $9.0 million comprised of the Envoi earn-out liability and earn-out growth consideration liability. A portion of the contingent consideration will be used to establish a retention pool which is payable in a mixture of cash and equity to employees upon meeting certain revenue thresholds over a required service period. The portion of contingent consideration used to establish the retention pool is treated as compensation rather than consideration transferred. Refer to Note 5 (Equity-Based Compensation) for further details about the related equity award. The amount of contingent consideration related to consideration transferred was measured at fair value at the acquisition date and recorded within the Earn-out liabilities, at fair value line item in the Consolidated Statement of Financial Position. The total purchase consideration is summarized below:


(Dollars in Thousands)	Envoi Amount
Cash consideration	$	25,258
Earn-out consideration	9,000
Total purchase consideration transferred	$	34,258

The Company incurred $1.1 million of direct acquisition-related expenditures, which are recognized in the Professional fees line item of the Consolidated Statement of Operations.

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


(Dollars in Thousands)	Envoi Acquisition Date Fair Value
Intangible assets	$	23,300
Goodwill	10,824
Operating lease right-of-use assets	196
Other assets	157
Total Assets Acquired	34,477
Accounts payable and accrued expenses	1
Operating lease liabilities	218
Total Liabilities Assumed	219
Total Assets Acquired and Liabilities Assumed	$	34,258

The purchase price allocation is preliminary and subject to change during the measurement period, which is not to exceed one year from the Envoi Acquisition Date. During the year ended December 31, 2024, the Company made a measurement period adjustment to the purchase price allocation, which resulted in an increase to intangibles and a decrease to goodwill of $1.0 million. 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.

Fair Value of Net Assets Acquired and Intangibles

In accordance with ASC 805, the assets and liabilities were recorded at their respective fair values as of July 1, 2024. The Company developed the fair value of intangible assets, which includes customer relationships, using various techniques including the multi-period excess earnings method. 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 business combination, which does not qualify as a separately recognized intangible asset. The goodwill resulting from this acquisition is expected to be deductible for tax purposes. The total amount of goodwill arising in the transaction was allocated to the Company’s Wealth & Capital Solutions segment. The components of goodwill do not qualify as a separately recognized intangible asset.

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


(Dollars in Thousands)	Envoi Acquisition Date Fair Value		Estimated Life (Years)
Customer Relationships	$	23,300	15
Total Intangible Assets	$	23,300

The results of the Envoi Acquisition have been included in the Company’s consolidated financial statements from the Envoi 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 Envoi, EEA, and PW as of the years ended December 31, 2024 and December 31, 2023. Supplemental pro forma financial information for AWMS and ALWP is presented as of the year ended December 31, 2023. The unaudited supplemental pro forma financial information gives effect to the acquisitions as if they had occurred on January 1, 2023.

The following acquisitions have been excluded from the unaudited pro forma financial information presented below since their results of operations are included in our unaudited consolidated statement of operations:

•EEA, PW, and Envoi acquisitions for the year ended December 31, 2024

•AWMS and ALWP acquisitions for the year ended December 31, 2024 and December 31, 2023, respectively


	For the Year Ended
(Dollars in Thousands)		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Total revenue		$	215,339	$	276,959	$	102,598
Net income (loss)		$	(101,668)	$	(162,307)	$	(2,050)

Deconsolidation of Alvarium Home REIT Advisors Ltd

deconsolidation of AHRA from the International Real Estate segment with immediate effect. The agreements removed ARE’s potential controlling voting rights in AHRA (previously ascertainable on the exercise of the option), and terminated other residual contractual relationships between AHRA and ARE. As a result, these agreements removed AlTi’s control of AHRA from an accounting perspective. AHRA’s results are included in the Company’s Consolidated Statement of Operations for the period from January 3, 2023 to June 30, 2023, and its accounts were removed from the Consolidated Statement of Financial Position as of June 30, 2023. The deconsolidation resulted in an intangible asset impairment charge of $29.4 million, which was recorded in Impairment loss on goodwill and intangible assets in the Consolidated Statement of Operations during the year ended December 31, 2023. Assets managed by AHRA, however, have been excluded from the Company’s AUM/AUA metrics since January 1, 2023.

Disposal of LRA

On January 9, 2024, AlTi RE Public Markets Limited entered into heads of terms to sell 100% of the equity of LRA, the advisor to the publicly-traded fund LXi, to LondonMetric for fixed consideration of approximately $33.1 million and up to an estimated $5.1 million of contingent consideration based on the exchange rate as of the balance sheet date, as applicable. This contingent consideration is payable in installments on each of the first four anniversaries of the sale of LRA. The contingent consideration meets the definition of a derivative and is recorded as Contingent consideration receivable on the Consolidated Statement of Financial Position as of December 31, 2024. This contingent consideration will be remeasured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value recognized in the Consolidated Statement of Operations in the period of change.

The disposal was completed on March 6, 2024. As a result, the Company has recognized an intangible asset impairment charge of $23.5 million, which is recorded in Impairment loss on goodwill and intangible assets in the Consolidated Statement of Operations during the year ended December 31, 2023. In addition, as of December 31, 2023, the major classes of assets and liabilities of LRA were presented as held for sale in the Consolidated Statement of Financial Position. For the year ended December 31, 2024, a net loss of $(0.4) million was recorded in connection with the completion of this disposal, which was recognized in the line item Gain (loss) on investments in the Consolidated Statement of Operations.

Disposal of FOS

On November 6, 2023, the Company entered into an agreement to sell FOS, the European-based trust and private office service which was part of the Company’s Wealth & Capital Solutions segment, for a cash consideration of approximately $20.1 million. Subsequently, an adjustment to the cash consideration of $(0.6) million was made, resulting in a final cash consideration of approximately $19.5 million. The agreement to sell was subject to regulatory approval that was granted in April 2024, following which, on May 8, 2024, the transaction was completed. This disposal does not represent a strategic shift that will have a major impact on the Company’s operations, and as such, is not classified as a discontinued operation. As of December 31, 2023, the major classes of assets and liabilities of FOS were presented as held for sale in the Consolidated Statement of Financial Position. During the year ended December 31, 2024, a gain on disposal of $9.4 million was recognized in Gain (loss) on investments in the Consolidated Statement of Operations.

Assets Held for Sale

The carrying amounts of the major classes of assets and liabilities of FOS and LRA were presented as held for sale in the Consolidated Statement of Financial Position at December 31, 2023. As of the year ended December 31, 2024, no assets or liabilities were classified as held for sale.

The following table represents amounts presented as held for sale for the periods presented:


	As of
(in thousands)	December 31, 2023
Assets
Cash and cash equivalents	$	2,897
Fees receivable, net	4,792
Intangible assets, net of accumulated amortization	46,658
Operating lease right-of-use assets	434
Deferred tax asset, net	41
Other assets	1,812
Total assets held for sale	$	56,634
Liabilities
Accounts payable and accrued expenses	$	(1,007)
Operating lease liabilities	(381)
Deferred tax liability, net	(10,852)
Deferred income	(781)
Other liabilities	(772)
Total liabilities held for sale	$	(13,792)

Revenue (Tables)

12 Months Ended

Dec. 31, 2024

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 Year Ended
(Dollars in Thousands)		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)

Management/advisory fees		$	190,455	$	180,861	$	76,872
Incentive fees		3,256		43,377		—
Distributions from investments		12,304		17,185		—
Other fees/income		920		5,494		—
Total Income		$	206,935	$	246,917	$	76,872

Schedule of Contract with Customer


(Dollars in Thousands)	As of December 31, 2024		As of December 31, 2023

Management/advisory fees receivable
Beginning balance	$	29,539	$	30,698
Ending balance (1)	32,194		29,539

Incentive fees receivable
Beginning balance	$	40,356	$	7,570
Ending balance (2)	1,324		40,356

Other fees/income receivable
Beginning balance	$	526	$	4,112
Ending balance	98		526

Deferred management/advisory fees
Beginning balance	$	(66)	$	(945)
Ending balance	(1)		(66)





Deferred other fees/income
Beginning balance	$	—	$	(422)
Ending balance	—		—

(1) As of December 31, 2024 and December 31, 2023, this amount includes $0.7 million and $1.2 million, respectively, in Management/advisory fees receivable due from related parties. See Note 17 (Related Party Transactions) for further details.

(2) As of December 31, 2024 and December 31, 2023, this amount includes $0.2 million and $14.9 million, respectively, in Incentive fees receivable due from related parties. See Note 17 (Related Party Transactions) for further details.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies (a)Basis of Presentation The accompanying audited consolidated financial statements comprise the financial statements of the Company and its subsidiaries. These consolidated financial statements have been prepared under the accrual basis of accounting in accordance with U.S. GAAP and conform to prevailing practices within the financial services industry, as applicable to the Company. The notes are an integral part of the Company’s consolidated financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s consolidated financial statements have been included and are of a normal and recurring nature. The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Certain prior period presentations and disclosures, while not required to be recast, may be reclassified to ensure comparability with current period classifications. (b)Prior Period Immaterial Corrections Following an analysis of quantitative and qualitative factors in accordance with SEC Staff Accounting Bulletin 99, Materiality, the Company concluded that the errors below were immaterial to the previously issued consolidated financial statements, and thus, no restatement of any of the Company’s previously issued financial statements is necessary. The Company revised the reported balances to correct for the immaterial errors accordingly. During the first quarter of 2024, the Company identified and corrected immaterial errors impacting the December 31, 2023 balances previously reported related to Accrued compensation and profit sharing, Goodwill, Accounts payable and accrued expenses and certain other balances reported within Other liabilities, net. These revisions resulted in an adjustment to the opening retained earnings balance for the current reporting period of $(3.0) million, a $4.2 million increase in Accrued compensation and profit sharing, a $0.3 million decrease in Goodwill, a $0.6 million increase in Other liabilities, net, and a $0.3 million increase in Accounts payable and accrued expenses. In conjunction with the prior period immaterial error correction, certain reclassifications have been made to prior period amounts between our Non-controlling interest in subsidiaries and Additional paid-in capital which relate to the TRA Exchange of our Class B Units for shares of Class A Common Stock. These reclassifications resulted in an adjustment of $13.3 million and are reflected in our Consolidated Statement of Changes in Mezzanine Equity and Shareholders’ Equity. Additionally, a prior period reclassification of $0.6 million has been made between General, administrative and other expense and Management/advisory fees. These prior period reclassifications have no impact on the Company’s cash flows, net income, or total shareholders’ equity. Additionally, in the current reporting period, the Company reclassified the balances in its Consolidated Statement of Operations as of December 31, 2023 of the previously reported amounts for the line items Management/advisory fees and Professional fees, decreasing both balances by $3.4 million. (c)Reclassifications Due to presentation changes that occurred during the first quarter ended March 31, 2024, we made certain reclassifications in our Consolidated Financial Position on a prospective basis. These reclassifications are not directly comparable to the year ended December 31, 2023 and include a $4.8 million adjustment to decrease Accounts payable and accrued expenses and increase Accrued compensation and profit sharing as well as a $3.2 million adjustment to decrease Other liabilities, net and increase Accrued compensation and profit sharing. (d)Change in Accounting Principle During the three months ended December 31, 2024, the Company changed its classification related to the Allianz and Constellation Warrants from liability-classified to equity-classified within the Statement of Financial Position. The Company changed its accounting principle relating to our interpretation of certain contingent settlement provisions within the Allianz and Constellation Warrants and permissibility of related settlement adjustments under ASC 815-40, Contracts in an Entity’s Own Equity. The Company believes this change in accounting principle is preferable as the Allianz and Constellation Warrants meet the equity scope exception under ASC 815-40, Contracts in an Entity’s Own Equity, and the economic substance of the Allianz and Constellation Warrants more closely aligns with that of an equity instrument, and how we measure the operating performance of the Company. This change in accounting policy has been applied retrospectively to the year-ended December 31, 2024. As a result of the accounting change, the Company reclassified the $9.6 million liability for the Allianz and Constellation Warrants as a component of equity within Additional paid-in capital on the Consolidated Statement of Financial Position. The Company adjusted net income (loss) and Additional paid-in capital to reverse previously recorded mark-to-market fair value changes of the liability-classified warrants recorded as of the first quarter ended March 31, 2024 of $(0.3) million, as of the second quarter ended June 30, 2024 of $0.4 million, and as of the third quarter ended September 30, 2024 of $3.9 million. There was no impact to any other prior periods as the Allianz and Constellation Warrants were issued during 2024. Further, there is no material impact to the initial carrying values of other equity instruments issued in the Allianz and Constellation Transactions as a result of the change in the classification of the Allianz and Constellation Warrants. (e)Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make assumptions and estimates that affect the amounts reported in the consolidated financial statements of the Company. The most critical of these estimates are related to (i) the fair value of the investments included in the Billable Assets within AUM/AUA, as this impacts the amount of revenues the Company recognizes each period; (ii) the fair values of the Company’s investments and liabilities with respect to the TRA, and Earn-out Securities, as changes in these fair values have a direct impact on the Company’s consolidated net income (loss); (iii) the estimate of future taxable income, which impacts the realizability and carrying amount of the Company’s deferred income tax assets; (iv) the qualitative and quantitative assessments of whether impairments of equity method investments, carried interest vehicles, acquired intangible assets, and goodwill exist; and (v) the determination of whether to consolidate a variable interest entity (“VIE”); and (vi) fair value of assets acquired and liabilities assumed in business combinations, including assumptions with respect to future cash inflows and outflows, discount rates, assets’ useful lives, market multiples, the allocation of purchase price consideration in the business combination valuation of acquired assets and liabilities, the estimated useful lives of intangible assets, goodwill impairment testing, assumptions used to calculate equity-based compensation, and the realization of deferred tax assets. Inherent in such estimates are judgments relating to future cash flows, which include the Company’s interpretation of current economic indicators and market valuations, and assumptions about the Company’s strategic plans with regard to its operations. While management believes that the estimates utilized in preparing the consolidated financial statements are reasonable and prudent, actual results could differ materially from those estimates. (f)Consolidation The Company consolidates those entities in which it has a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. The Company determines whether an entity should be consolidated by first evaluating whether it holds a variable interest in the entity. Entities that are not VIEs are further evaluated for consolidation under the voting interest model (“VOE” model). An entity is considered to be a VIE if any of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) the holders of equity investment at risk, as a group, lack either the direct or indirect ability through voting rights or similar rights to make decisions that have a significant effect on the success of the entity or the obligation to absorb the expected losses or right to receive the expected residual returns, or (c) the voting rights of some equity investors are disproportionate to their obligation to absorb losses of the entity, their rights to receive returns from an entity, or both and substantially all of the entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights. Fees that are customary and commensurate with the level of services provided by the Company, and where the Company does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, are not considered a variable interest. The Company factors in all economic interests, including proportionate interests through related parties, to determine if fees are considered a variable interest. Where the Company’s interests in funds are primarily management fees and insignificant direct or indirect equity interests through related parties, the Company is not considered to have a variable interest in such entities. The Company consolidates all VIEs for which it is the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest, which is defined as having (a) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The Company does not consolidate any of the products it manages as it does not hold any direct or indirect interests in such entities that could expose the Company to an obligation to absorb losses of an entity or the right to receive benefits from an entity that could potentially be significant to such entities. The Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and continuously reconsiders that conclusion. In evaluating whether the Company is the primary beneficiary, the Company evaluates its direct and indirect economic interests in the entity. The consolidation analysis is generally performed qualitatively, however, if the primary beneficiary is not readily determinable, a quantitative analysis may also be performed. This analysis requires judgment, including: (1) determining whether the equity investment at risk is sufficient to permit the entity to finance its activities without additional subordinated financial support, (2) evaluating whether the equity holders, as a group, can make decisions that have a significant effect on the success of the entity, (3) determining whether two or more parties’ equity interests should be aggregated, (4) determining whether the equity investors have proportionate voting rights to their obligations to absorb losses or rights to receive returns from an entity and (5) evaluating the nature of relationships and activities of the parties involved in determining which party within a related-party group is most closely associated with a VIE and therefore would be deemed the primary beneficiary. Under the voting interest model, the Company consolidates those entities it controls through a majority voting interest. The Company will generally not consolidate those voting interest entities where a single investor or simple majority of third-party investors with equity have the ability to exercise substantive kick-out or participation rights. (g)Revenue Recognition Revenue is recognized when the Company transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. A five-step framework is utilized that requires an entity to: (i) identify the contract(s) with a customer, which includes assessing the collectability of the consideration to which it will be entitled in exchange for the goods or services transferred to the customer, (ii) identify the performance obligation in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligation in the contract, and (v) recognize revenue when the entity satisfies a performance obligation. Management/Advisory Fees Revenues from contracts with customers consist of investment management, trustee, and custody fees. The Company recognizes revenue at the time of transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Revenue recognized is calculated based on contractual terms, including the transaction price, whether a distinct performance obligation has been satisfied and control is transferred to the customer, and when collection of the revenue is assessed as probable. Investment management, trustee and custody fees are recognized over the period in which the investment management services are performed, using a time-based output method to measure progress. The amount of revenue varies from one reporting period to another as levels of AUA change (from inflows, outflows, and market movements) and the number of days in the reporting period change. For services provided to each client account, the Company charges an investment management fee, inclusive of custody and/or trustee fees, based on the fair value of the AUA of such account representing a single performance obligation. For assets for which valuations are not available on a daily basis, the most recent valuation provided to the Company is used as the fair value for the purpose of calculating the quarterly fee. In certain circumstances, fixed fees are charged to customers on a monthly basis. The nature of the Company’s performance obligation is to provide a series of distinct services in which the customer receives the benefits of the services over time. The Company’s performance obligation is satisfied at the end of each month or quarter, as applicable to the contract with the customer. Fees are charged on a mixture of methodologies that include quarterly in arrears based upon the market value at the end of the quarter, quarterly based on the average daily balance, or monthly. Receivable balances from contracts with customers are included in the fees receivable line in the Consolidated Statement of Financial Position. Our family office services business is also included in the Management/advisory fees line item. Family office services fees are generally structured to reflect an annual agreed upon fee or they can be structured on a project/time-based fee. Family office services fees are typically billed quarterly in arrears. We also generate family office services project/time-based fees arising from accounting, administration fees, set up, the Foreign Account Tax Compliance Act (“FATCA”), and other non-investment advisory services. Incentive Fees The Company is entitled to incentive fees if targeted returns have been achieved in accordance with customer contracts. Incentive fees are calculated using a percentage of net profit from the amount the customers earn. Incentive fees are variable consideration that is generally calculated as applicable to the contract with the customer. We recognize our incentive fees when it is no longer probable that a significant reversal of revenue will occur. Our incentive fees are not subject to clawback provisions. Other Fees/Income The Company generates arrangement fees from Real Estate Co-Investment transactions by arranging private debt or equity financing, generally in connection with an acquisition or an investment. Arrangement fees are typically 50 to 100 basis points of equity value contributed to a transaction, and are payable upon closing of the transaction. Acquisition fees are typically payable where there are no agency fees or where an off-market transaction was sourced. Such acquisition fees are usually in the range of 50 to 100 basis points of the purchase price of the relevant acquisition. The equity structures are long-term (five to ten years) closed-ended structures with fees normally ranging between 50 and 175 basis points of the equity value committed or drawn. The debt structure terms are generally between 12 and 36 months. The investment adviser, general partner or other entity entitled to fees in respect of each of our co-investments receives such fees either monthly, quarterly or annually. (h)Distributions from Investments The Company has equity interests in External Strategic Managers pursuant to which it is entitled to distributions based on the terms of the respective arrangements. Distributions from each investment will be recorded upon receipt of the distribution. These distributions are recurring under investment agreements and are structured as either a profit or revenue share of the investment’s management and incentive fees. (i)Cash and Cash Equivalents Cash and cash equivalents primarily consist of cash and money market funds. Cash balances maintained by consolidated VIEs are not considered legally restricted and are included in cash and cash equivalents on the Consolidated Statement of Financial Position. Cash was held across our U.S. and international markets. A majority of cash in the U.S. was held in checking accounts within the credit facility bank group, including at a major global financial institution which management believes is creditworthy. (j)Restricted Cash and Cash Equivalents Restricted cash and cash equivalents consist of balances that are restricted as to withdrawal or usage. As of December 31, 2024 and December 31, 2023, restricted cash and cash equivalents amounted to $9.9 million and $5.4 million, respectively, and are included in the line item Cash and cash equivalents on the Consolidated Statement of Financial Position as of such dates. These amounts represent 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. (k)Compensation and Employee Benefits Cash-Based Compensation Compensation and benefits consist of salaries, bonuses, commissions, benefits and payroll taxes. Compensation is accrued over the related service period. Equity-Based Compensation Equity-based compensation awards are reviewed to determine whether such awards are equity-classified or liability-classified. Compensation expense related to equity-classified awards is equal to their grant-date fair value and generally recognized on a straight-line basis over the awards’ requisite service period for time-based awards or recognized over a graded-vesting period for awards with both a service and market condition, as applicable. When certain settlement features require an award to be liability-classified, compensation expense is recognized over the service period, and such amount is adjusted at each statement of financial position date through the settlement date to the then current fair value of such award. The Company recognizes equity-based award forfeitures in the period they occur as a reversal of previously recognized compensation expense. The reduction in compensation expense is determined based on the specific awards forfeited during that period. Furthermore, the Company recognizes all excess tax benefits and deficiencies as income tax benefits or expenses in the Consolidated Statement of Operations. (l)Foreign Currency and Transactions The Company has multiple functional currencies across various consolidated entities. All functional currencies that are not the U.S. dollar are converted upon consolidation at the reporting date. Monetary assets and liabilities denominated in foreign currency are remeasured into U.S. dollars at the closing rates of exchange on the date of the Consolidated Statement of Financial Position. Non-monetary assets and liabilities denominated in foreign currencies are remeasured into U.S. dollars using the historical exchange rate. The profit or loss arising from foreign currency transactions is remeasured using the rate in effect on the date of the relevant transaction. Gains and losses on transactions denominated in foreign currencies due to changes in exchange rates are recorded within Foreign currency translation adjustments. Gains and losses on certain financing transactions that the Company intends to repay in the foreseeable future are recorded in net income. (m)Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC 740, Income Taxes. Under this method, deferred tax assets and liabilities are determined based on differences between the consolidated financial statement carrying amounts and tax bases of assets and liabilities and operating loss and tax credit carryforwards and are measured using the enacted tax rates that are expected to be in effect when the differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Consolidated Statement of Operations in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to an amount that, in the opinion of management, is more likely than not to not be realized, meaning the likelihood of realization is less than 50%. The Company accounts for uncertain tax positions by reporting a liability for unrecognizable tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. (n)Other Assets, Net and Other Liabilities, Net Other assets, net include prepaid expenses, miscellaneous receivables, current income taxes receivable, fixed assets, and software licenses. The Company amortizes assets over their respective useful lives, as applicable. Other liabilities, net include the AlTi Wealth Management (Switzerland) SA, formerly known as Alvarium Investment Managers (Suisse) SA, (“AWMS”) deferred cash consideration (see Note 3 (Business Combinations and Divestitures)), Pointwise Partners Limited (“PW”) deferred consideration, accrued payroll and payroll related taxes, accrued legal fees, and corporate taxes payable, among other miscellaneous payables. (o)Investments Investments in Debt Securities. The Company classifies debt investments as held-to-maturity or trading based on the Company’s intent and ability to hold the debt security to maturity or its intent to sell the security. The Company does not have any held-to-maturity debt investments. Trading securities are those investments that are purchased principally for the purpose of selling them in the near term. Trading securities are carried at fair value on the Consolidated Statement of Financial Position with changes in fair value recorded in Loss on investments on the Consolidated Statement of Operations. Investments in Equity Securities. Equity securities are generally carried at fair value on the Consolidated Statement of Financial Position in accordance with ASC 321, Investments – Equity Securities. Changes in fair value are recorded in Loss on investments on the Consolidated Statement of Operations. Equity Method. The Company applies the equity method of accounting for equity investments where the Company does not consolidate the investee but can exert significant influence over the financial and operating policies of the investee. The evaluation of whether the Company exerts control or significant influence over the financial and operational policies of its investees is based on the facts and circumstances surrounding each individual investment. The Company’s share of the investee’s underlying net income or loss is recorded as Loss on investments within current period earnings. The Company’s share of net income of the investee is recorded based upon the most current information available at the time, which may precede the date of the Consolidated Statement of Financial Position. Due to the nature and size of its investees, the Company has adopted a lag in reporting for certain equity method investees for which the Company cannot reliably obtain financial information on a regular basis. Distributions received reduce the Company’s carrying value of the investee and the cost basis if deemed to be a return of capital. For certain investments, the Company may apply the alternative fair value option to the investment at initial measurement. The fair value measurement of investments in which the fair value option is elected will be measured in accordance with ASC 825, Financial Instruments. For equity method investments and nonmarketable investments, impairment evaluation considers qualitative factors, including the financial conditions and specific events related to an investee, which may indicate the fair value of the investment is less than the carrying value. For held-to-maturity investments, impairment is evaluated using market values, when available, or the expected cash flows of the investment. These losses in value may be considered other than temporary impairment losses. (p)Leases The Company determines if an arrangement is a lease at inception of the arrangement and primarily enters into operating leases, as the lessee, for office space. The Company accounts for its leases in accordance with ASC 842, Leases, and recognizes a lease liability and right-of-use asset in the Consolidated Statement of Financial Position for contracts that it determines are leases or contain a lease. The Company evaluates leases at their inception to determine if they are to be accounted for as an operating lease or a finance lease. A lease is accounted for as a finance lease if it meets one of the following five criteria: (i) the lease has a purchase option that is reasonably certain of being exercised, (ii) the present value of the future cash flows is substantially all of the fair market value of the underlying asset, (iii) the lease term is for a significant portion of the remaining economic life of the underlying asset, (iv) the title to the underlying asset transfers at the end of the lease term, or (v) if the underlying asset is of such a specialized nature that it is expected to have no alternative uses to the lessor at the end of the term. Leases that do not meet the finance lease criteria are accounted for as an operating lease. At the inception of a finance lease, an asset and finance lease obligation are recorded at an amount equal to the lesser of the present value of the minimum lease payments and the property’s fair market value. Finance lease obligations are classified as either current or long-term based on the due dates of future lease payments, net of interest. The Company’s lease portfolio primarily consists of operating leases for office space in various countries around the world. The Company also has operating leases for office equipment and vehicles, which are not significant. The Company does not separate non-lease components from lease components for its office space and equipment operating leases and instead accounts for each separate lease component and its associated non-lease component as a single lease component. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the leases. The Company’s right-of-use assets and lease liabilities are recognized at lease commencement based on the present value of lease payments over the lease term. Lease right-of-use assets include initial direct costs incurred by the Company and are presented net of deferred rent and lease incentives. Absent an implicit interest rate in the lease, the Company uses its incremental borrowing rate, adjusted for the effects of collateralization, based on the information available at commencement in determining the present value of lease payments. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise those options. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Lease right-of-use assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The Company does not recognize a lease liability or right-of-use asset on the balance for short-term leases. Instead, the Company recognizes short-term lease payments as an expense on a straight-line basis over the lease term. A short-term lease is defined as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. When determining whether a lease qualifies as a short-term lease, the Company evaluates the lease term and the purchase option in the same manner as all other leases. (q)Intangible Assets Other Than Goodwill, Net The Company recognized certain finite-lived intangible assets as a result of the Business Combination. The Company’s finite-lived intangible assets consist of Customer Relationships, Trade Names, Investment Management Agreements, Internally Developed Software and Backlog. Finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives. The Company tests finite-lived intangible assets for impairment if certain events occur or circumstances change indicating that the carrying amount of the intangible asset may not be recoverable. The Company evaluates impairment by comparing the estimated fair value attributable to the intangible asset with its carrying amount. If an impairment exists, the Company adjusts the carrying value to equal the fair value by taking a charge through earnings. The Company also recognized certain indefinite-lived intangible assets as a result of the Business Combination consisting of certain investment management agreements. These indefinite-lived intangibles are not subject to amortization, but are evaluated for impairment at least annually. In assessing its indefinite-lived intangible assets for impairment, the Company has the option to first perform a qualitative assessment to determine whether events or circumstances exist that lead to a determination that it is unlikely that the fair value of the indefinite-lived intangible asset is less than its carrying amount. If the Company determines that it is unlikely that the fair value of an indefinite-lived intangible asset is less than its carrying amount, the Company is not required to perform any additional tests in assessing the asset for impairment. However, if the Company concludes otherwise or elects not to perform the qualitative assessment, then it is required to perform a quantitative analysis to determine if the fair value of an indefinite-lived intangible asset is less than its carrying value. If through this quantitative analysis the Company determines the fair value of an indefinite-lived intangible asset exceeds its carrying amount, the indefinite-lived intangible asset is considered not to be impaired. If the Company concludes that the fair value of an indefinite-lived intangible asset is less than its carrying value, an impairment loss will be recognized for the amount by which the carrying amount exceeds the indefinite-lived intangible asset’s fair value. See Note 11 (Intangible Assets, net) for details on impairments. (r)Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of the tangible and intangible assets acquired and the liabilities assumed. Under ASC 350, Intangibles—Goodwill and Other, goodwill is not amortized, but rather is subject to an annual impairment test. Goodwill represents the excess of consideration over identifiable net assets of an acquired business. Goodwill is allocated at a reporting unit level. The Company has two reporting units, Wealth & Capital Solutions and International Real Estate, and tests goodwill annually for impairment at each reporting unit. If, after assessing qualitative factors, the Company believes that it is more likely than not that the fair value of the reporting unit inclusive of goodwill is less than its carrying amount, the Company will perform a quantitative assessment to determine whether an impairment exists. If an impairment exists, the Company adjusts the carrying value of goodwill so that the carrying value of the reporting unit is equal to its fair value by taking a charge through earnings. The Company also tests goodwill for impairment in other periods if an event occurs or circumstances change such that it is more-likely-than-not to reduce the fair value of the reporting unit below its carrying amount. See Note 14 (Goodwill, net) for details on impairments. (s)Fixed Assets, Net Fixed assets are recorded at cost, less accumulated depreciation and amortization, and are included in the “Other assets” line item in the Company’s Consolidated Statement of Financial Position. Fixed assets are depreciated or amortized on a straight-line basis, with the corresponding depreciation and amortization expense included within general, administrative and other expenses in the Company’s Consolidated Statement of Operations. The estimated useful life for leasehold improvements is the lesser of the remaining lease term and the life of the asset, while other fixed assets are generally depreciated over a period of one to ten years. Fixed assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. (t)Debt Obligations, Net The Company’s debt obligations are recorded at amortized cost, net of any debt issuance costs, discounts and premiums. Debt issuance costs are deferred and along with discounts and premiums are amortized to interest expense in the Consolidated Statement of Operations over the life of the related debt instrument using the effective interest method. Unamortized debt issuance costs, discounts and premiums are written off to net losses on retirement of debt in the Consolidated Statement of Operations when the Company prepays borrowings prior to maturity. (u)Tax Receivable Agreement The TRA liability represents amounts payable to certain pre-Business Combination equity holders of the Company. The portion of the TRA liability related to the Business Combination is deemed contingent consideration payable to the previous owners and is carried at fair value, with changes in fair value reported within Gain (loss) on TRA in the Consolidated Statement of Operations. Future exchanges of Class B Units for shares of Class A Common Stock may increase the TRA liability. Those increases will be carried at a value equal to the expected future payments due under the TRA. See Note 20 (Commitments and Contingencies) for a detailed discussion on TRA exchanges. For future changes in the TRA balance due to exchanges, the Company will record an initial estimate of future payments under the TRA portion as an adjustment to Additional paid-in capital in the Consolidated Statement of Financial Position. Subsequent adjustments to the liability for future payments under the TRA related to changes in estimated future tax rates or state income tax apportionment are recognized through current period earnings in the Consolidated Statement of Operations. (v)Warrant Liabilities The Company evaluated the Warrants issued in connection with the Business Combination in accordance with ASC 815-40, Contracts in an Entity’s Own Equity, and concluded that a provision in the warrant agreement related to certain tender or exchange offers precludes the Warrants from being accounted for as components of equity. As the Warrants meet the definition of a derivative, the Warrants are recorded as derivative liabilities on the balance sheet and measured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value recognized in Loss on warrant liability in the Consolidated Statement of Operations in the period of change. Prior to the Business Combination the Sponsor held private warrants that were contributed to the Company and legally cancelled. The contribution and cancellation of these warrants resulted in derecognition of the private warrants and accounted for in Additional paid-in capital as of January 1, 2023. The Company subsequently issued new warrants with terms identical to those of the public warrants to the Target Companies’ selling shareholders classified as derivative liabilities. See Note 1 (Description of the Business) and Note 15 (Debt, net of unamortized deferred financing) for detail on warrant transactions entered into by the Company. (w)Earn-out Liabilities, at Fair Value The Earn-out liabilities, at fair value, represents contingent consideration payable related to the Business Combination and various acquisitions by the Company. Changes in fair value are recognized in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change. See Note 3 (Business Combinations and Divestitures) and Note 20 (Commitments and Contingencies) for further information. (x)Preferred Stock Tranche Liability, at Fair Value The Preferred stock tranche liability, at fair value, represents the right, but not the obligation, of Allianz to purchase up to 50,000 additional shares of Series A Preferred Stock up to an aggregate amount equal to $50 million. Changes in fair value are recognized in Gain (loss) on on preferred stock tranche liability in the Consolidated Statement of Operations in the period of change. See Note 1 (Description of the Business), Note 7 (Fair Value Disclosures), and Note 15 (Debt, net of unamortized deferred financing cost) for additional detail related to the Preferred stock tranche liability. (y)Equity-Classified Warrants In connection with the Allianz and Constellation Transactions, the Company issued warrants to purchase shares of the Company’s Class A Common Stock. The Company evaluated the Allianz and Constellation Warrants in accordance with ASC 815-40, Contracts in an Entity’s Own Equity, and determined that the warrants are derivatives that meet the fixed-for-fixed equity classification criteria. As such, the Allianz and Constellation Warrants are classified as a component of equity in the Consolidated Statement of Financial Position. (z)Delayed Share Purchase Agreement Prior to the Business Combination, TWMH entered into an agreement to purchase a remaining non-controlling interest in its consolidated subsidiary representing 51.1% of shares in TIH. This arrangement was agreed upon for consideration of $2.1 million in cash and $1.2 million in Class A Common Stock. On March 25, 2024, the TIH SPA was fully paid. As of December 31, 2023, the Delayed share purchase agreement liability was $1.8 million and the portion of the Delayed share purchase agreement reported in Accrued compensation and profit sharing was $0.3 million. The stock purchase price was recognized in the Consolidated Statement of Financial Condition as Additional paid-in capital. As of December 31, 2023, the portion of the delayed share purchase agreement reported in Additional paid-in capital was $1.2 million. (aa)Non-controlling Interests Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the Company’s equity. Non-controlling interests consist of the amount of those interests at the date of the original Business Combination and the minority’s share of changes in equity since the date of the Business Combination. The proportions of profit and loss and changes in equity allocated to the owners of the parent and to the non-controlling interests are determined on the basis of existing ownership interests. (ab)Derivative Financial Instruments The Company accounts for derivative financial instruments in accordance with ASC 815, Derivatives and Hedging, which requires the Company to recognize all derivative instruments on the Consolidated Statement of Financial Position as either assets or liabilities and to measure them at fair value each reporting period unless they qualify for normal purchases and normal sales exception. Normal purchases and normal sales contracts are those that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold by a reporting entity over a reasonable period in the normal course of business. In connection with the LXi disposal, the Company determined the contingent consideration meets the definition of a derivative and is recorded as Contingent consideration receivable on the Consolidated Statement of Financial Position as of December 31, 2024. The Contingent consideration receivable will be remeasured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value recognized in the Consolidated Statement of Operations in the period of change. (ac)Segment Reporting Our business is organized into two operating segments: Wealth & Capital Solutions and International Real Estate. As of the third quarter ended September 30, 2024, the Company changed the composition of its reportable segments and recast prior period amounts to conform to the Company’s current period segment information. Segment information is utilized by the Company’s chief operating decision maker, which is our Chief Executive Officer, to assess performance and to allocate resources. See Note 1 (Description of the Business) and Note 18 (Segment Reporting) for further information. (ad)Interest Income Interest income is earned on the Company’s cash balances, money market accounts, or through its investments in exchange-traded notes. These generally include debt securities held on a short- or medium-term basis when the Company has excess cash. The Company recognizes and records interest income in Interest income in the Consolidated Statement of Operations. Dividend income is earned through investments in common stock, mutual funds, and exchange-traded funds. Dividend income is recorded on the date received and is included in Interest income in the Consolidated Statement of Operations. (ae)Interest Expense Interest is related to the Company’s debt as well as investments in exchange-traded notes. These generally include debt securities held on a short- or medium-term basis when the Company has excess cash. The Company recognizes and records interest expense in Interest expense in the Consolidated Statement of Operations. (af)Other Income and Expenses Other than Interest income and Interest expense discussed above, other income and expenses include unrealized gains (losses) on investments, income from equity method investees, and other items. The Company holds investments in common stock, mutual funds, exchange-traded funds, and exchange-traded notes, which represent investments in equity and debt securities. The Company earns realized and unrealized gains and losses which depend on investment performance. Changes in fair value of these investments are recorded in Gain (loss) on investments in the Consolidated Statement of Operations. The Company holds interests in various affiliated limited partnerships and limited liability companies, whose purpose is to achieve capital appreciation through investments in financial instruments and investment vehicles. The Company accounts for investments in which it has significant influence but not a controlling financial interest using the equity method of accounting and may earn income related to its equity in income of equity method investees. The equity method investments are in various fund complexes, including funds focused on infrastructure and utilities, high income yields, and multi-strategy, among others. Changes in fair value of these investments are recorded in Gain (loss) on investments in the Consolidated Statement of Operations. (ag)Held for Sale Accounting In circumstances when the Company is evaluating its components, we may establish plans that require us to evaluate whether a component qualifies for held-for-sale accounting under ASC 360, Property, Plant, and Equipment. If a sale is deemed probable within a twelve-month period, the component is classified to either the assets held for sale or liabilities held for sale line items on the Consolidated Statement of Financial Position. The disposal group will be measured at the lower of its carrying amount or fair value less the cost to sell. Any long-lived assets shall not be depreciated or amortized while classified as held for sale. Assets and liabilities of FOS and LRA are presented as held for sale on our Consolidated Statement of Financial Position as of December 31, 2023. See Note 3 (Business Combinations and Divestitures) for further information. (ah)Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company has incorporated the requirements of this guidance into its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The amendments in this update related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments are effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company does not expect the impact of this guidance to be material to its consolidated financial statements. In January 2024, the FASB issued ASU 2024-01, Compensation—Stock Compensation (Topic 718) - Scope Application of Profits Interest and Similar Awards. The amendments in this update improve US GAAP by adding an illustrative example that demonstrates how an entity should apply the scope guidance in paragraph 718-10-15-3 to determine whether a profits interest award should be accounted for in accordance with Topic 718. The amendments in paragraph 718-10-15-3 improve its overall clarity and operability without changing the guidance. The amendments are effective for annual periods beginning after December 15, 2024, and interim periods within annual periods beginning after December 15, 2025, with early adoption permitted. The Company does not expect the impact of this guidance to be material 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). The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses at each interim and annual reporting period. The amendments are 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 impact of this guidance to be material to its consolidated financial statements. The Company has considered all newly issued accounting guidance that is applicable to its operations and the preparation of its audited consolidated statements, including those it has not yet adopted. ASUs not listed above were assessed and either determined to be not applicable or expected to have minimal impact on the Company’s consolidated financial statements.

Intangible Assets, net (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

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


	As of December 31, 2024
(Dollars in Thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount (2)		Impairment		Accumulated Amortization		Net Carrying Amount
Intangible assets
Amortizing intangible assets
Customer relationships	22.3	$	277,117	$	—	$	(18,999)	$	258,118
Investment management agreements	0.0	2,351		(2,104)		(247)		—
Trade names	9.4	12,198		(110)		(2,498)		9,590
Acquired internally developed software	5.0	1,300		—		(445)		855
Other intangible asset	0.0	622		—		(622)		—
Total amortized intangible assets		293,588		(2,214)		(22,811)		268,563
Non-amortized intangible assets (1)
Investment management agreements (3)		245,900		(44,900)		—		201,000
Total intangible assets		$	539,488	$	(47,114)	$	(22,811)	$	469,563

(1) The Company’s non-amortized intangible assets consist of management contracts for open-ended fund products, in which there is no contractual termination date.

(2) As of December 31, 2024, gross carrying amounts related to the Company’s intangible assets include additions to intangibles of $99.3 million related to the PW, EEA, and Envoi Acquisitions, a transfer of $4.6 million to Goodwill related to measurement period adjustments for the EEA Acquisition and a transfer of $1.0 million from Goodwill related to measurement period adjustments for the Envoi Acquisition (see Note 3 Business Combinations and Divestitures), as well as foreign currency translation differences of $(1.3) million.

(3) During the third quarter ended December 31, 2024, the Company commenced a strategic review of its Real Estate Businesses and conducted a realignment of its operating segments. Prior to the realignment, the Company conducted a goodwill impairment test to determine whether the fair value of its reporting units declined to an amount lower than the carrying value of goodwill. As part of the test, we utilized the discounted cash flow method and determined the fair value of TIG’s Investment Management Agreement (the “IMA”) had declined. As such, the Company recognized intangible asset impairment charges of $44.9 million related to the IMA, which is classified as an indefinite-lived intangible asset and part of the Wealth & Capital Solutions segment. Drivers of the impairment for the IMA primarily include the financial projections and discount rate associated with the instrument. See Note 14 (Goodwill, net) for further details around the related impairment to goodwill as a result of our strategic realignment.


	As of December 31, 2023
(Dollars in Thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount (3)		Impairment		Disposal		Held for Sale		Accumulated Amortization		Net Carrying Amount
Intangible assets
Amortizing intangible assets
Customer relationships	25.3	$	186,832	$	—	$	(254)	$	(2,128)	$	(7,180)	$	177,270
Investment management agreements (1)	19.6	100,269		(50,283)		—		(43,299)		(4,545)		2,142
Trade names	10	14,945		(2,635)		—		(1,231)		(1,514)		9,565
Acquired internally developed software	5	1,000		—		—		—		(200)		800
Other intangible asset	0	622		—		—		—		(622)		—
Total amortized intangible assets		303,668		(52,918)		(254)		(46,658)		(14,061)		189,777
Non-amortized intangible assets (2)
Investment management agreements		245,900		—		—		—		—		245,900
Total intangible assets		$	549,568	$	(52,918)	$	(254)	$	(46,658)	$	(14,061)	$	435,677

(1) During the year ended December 31, 2023, the Company deconsolidated AHRA (See Note 3 Business Combinations and Divestitures) and as a result, recorded an impairment charge of $29.4 million to the carrying value of AHRA’s investment advisory agreement with Home REIT, which is recorded in the line item Impairment loss on goodwill and intangible assets in the Consolidated Statement of Operations. On January 9, 2024, AlTi RE Public Markets Limited entered into heads of terms to sell 100% of the equity of LRA, the advisor to the publicly-traded fund LXi, to LondonMetric for fixed consideration of approximately $33.1 million and up to an estimated $5.1 million of contingent consideration based on the exchange rate as of the balance sheet date, as applicable. The contingent consideration meets the definition of a derivative and is recorded as Contingent consideration receivable on the Consolidated Statement of Financial Position as of December 31, 2024. This contingent consideration will be remeasured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value recognized in the Consolidated Statement of Operations in the period of change. The disposal completed on March 6, 2024. As a result, during the year ended December 31, 2023, AlTi recognized an intangible asset impairment charge of $23.5 million in Impairment loss on goodwill and intangible assets in the Consolidated Statement of Operations. In addition, as of December 31, 2023, the major classes of assets and liabilities of LRA were presented as held for sale in the Consolidated Statement of Financial Position. For the year ended December 31, 2024, a net loss of $(0.4) million gain was recorded in connection with the completion of this disposal, which was recognized in the line item Gain (loss) on investments in the Consolidated Statement of Operations.

(2) The Company’s non-amortized intangible assets consist of management contracts for open-ended fund products, in which there is no contractual termination date.

(3) Gross carrying amounts related to the Company’s intangible assets include foreign currency translation differences of $7.4 million as of December 31, 2023.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

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 December 31, 2024

2025	$	15,300
2026	15,300
2027	15,300
2028	15,100
2029 and beyond	207,563
Total	$	268,563

Earnings Per Share - Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income (loss) attributable to controlling interest - basic	$ (126,549)	$ (165,584)
Net income (loss) attributable to controlling interest - diluted	(126,549)	(165,584)
Net income (loss) available to the Company - diluted	$ (126,549)	$ (165,584)
Weighted-average shares of Class A Common Stock outstanding - basic (in shares)	79,692,659	61,396,692	7,007
Weighted-average shares of Class A Common Stock outstanding - diluted (in shares)	79,692,659	61,396,692	7,007
Income (loss) per Class A Common Stock - basic (in dollars per share)	$ (1.59)	$ (2.70)	$ (839.87)
Income (loss) per Class A Common Stock - diluted (in dollars per share)	$ (1.59)	$ (2.70)	$ (839.87)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Earnings Per Share - Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Class B Common Stock and Class B Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	48,352,620	40,668,662
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	4,992,813
Allianz and Constellation Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	7,000,000	0
Earn-Outs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	12,583,106	10,396,318
Pointwise Deferred Consideration Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	829,657	0
Acquisition-Related Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,680,085	0
Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	3,245,446	3,432,030

Related Party Transactions - Allianz Transaction (Details) $ in Thousands		12 Months Ended
	Jul. 31, 2024 director shares	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Feb. 22, 2024 USD ($) shares	Jun. 07, 2023 shares
Related Party Transaction [Line Items]
Number of securities called by warrants or rights (in shares) \| shares						19,892,387
Preferred stock tranche liability, at fair value		$ 3,940	$ 0
Gain (loss) on preferred stock tranche liability		600	0	$ 0
Equity method investments		27,517	14,194
Related party
Related Party Transaction [Line Items]
Equity method investments		20,300	0
Allianz warrant \| Additional paid-in-capital
Related Party Transaction [Line Items]
Warrant liabilities, at fair value		6,600
Series A Preferred Stock
Related Party Transaction [Line Items]
Preferred stock		142,858	0
Series A Preferred Stock \| Related party
Related Party Transaction [Line Items]
Preferred stock		$ 142,858	$ 0
Class A Common Stock
Related Party Transaction [Line Items]
Number of securities called by warrants or rights (in shares) \| shares						4,962,147
Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Series A Preferred Stock \| Allianz Investment Agreement
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares) \| shares	140,000
Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Series A Preferred Stock \| Allianz Investment Agreement \| Allianz Tranche Right
Related Party Transaction [Line Items]
Number of securities called by warrants or rights (in shares) \| shares					50,000
Value of securities called by warrant or right					$ 50,000
Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Class A Common Stock \| Allianz Investment Agreement
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares) \| shares	19,318,580.96
Number of directors available for nomination \| director	2
Threshold of ownership (in percent)	50.00%
Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Class A Common Stock \| Allianz Investment Agreement \| Allianz warrant
Related Party Transaction [Line Items]
Number of securities called by warrants or rights (in shares) \| shares	5,000,000

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total income	$ 206,935	$ 246,917	$ 76,872
Management/advisory fees
Disaggregation of Revenue [Line Items]
Total income	190,455	180,861	76,872
Incentive fees
Disaggregation of Revenue [Line Items]
Total income	3,256	43,377	0
Distributions from investments
Disaggregation of Revenue [Line Items]
Total income	12,304	17,185	0
Other fees/income
Disaggregation of Revenue [Line Items]
Total income	920	5,494	0
Operating Segments
Disaggregation of Revenue [Line Items]
Total income	206,935	246,917	76,872
Operating Segments \| Management/advisory fees
Disaggregation of Revenue [Line Items]
Total income	190,455	180,861	76,872
Operating Segments \| Incentive fees
Disaggregation of Revenue [Line Items]
Total income	3,256	43,377	0
Operating Segments \| Distributions from investments
Disaggregation of Revenue [Line Items]
Total income	12,304	17,185	0
Operating Segments \| Other fees/income
Disaggregation of Revenue [Line Items]
Total income	$ 920	$ 5,494	$ 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 + 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.

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Reference 8: 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 9: 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 10: 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 11: 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 12: 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 13: 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

Subsequent Events (Details) $ in Millions, € in Billions	Mar. 19, 2025 USD ($)	Mar. 06, 2025 EUR (€)	Dec. 31, 2024 USD ($)
Subsequent Event [Line Items]
Assets under management			$ 75,700.0
Subsequent event \| Settled Litigation
Subsequent Event [Line Items]
Litigation settlement	$ 5.1
Subsequent event \| Kontora
Subsequent Event [Line Items]
Assets under management \| €		€ 14

Summary of Significant Accounting Policies - Prior Period Immaterial Corrections, Reclassifications, And Change In Accounting Principle (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retained earnings (accumulated deficit)					$ (296,561)	$ (193,527)
Accrued compensation and profit sharing					60,074	61,768
Goodwill					377,842	411,634	$ 530,547
Other liabilities, net					15,925	22,533
Accounts payable and accrued expenses					33,976	37,156
TRA Exchange					(12,814)	1,025
Professional fees					50,308	63,091	9,400
Total Revenues					206,935	246,917	76,872
Adjustments to additional paid-in-capital				$ 29,500	9,594
Gain (loss) on warrant liabilities					0	(12,866)	0
Classification changes, liability to equity
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustments to additional paid-in-capital					9,600
Mapping changes, accounts payable and accrued expenses to accrued compensation and profit sharing
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accrued compensation and profit sharing						4,800
Mapping changes, other liabilities to accrued compensation and profit sharing
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accrued compensation and profit sharing						3,200
Management/advisory fees
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Revenues					$ 190,455	180,861	$ 76,872
Revision of Prior Period, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retained earnings (accumulated deficit)						(3,000)
Accrued compensation and profit sharing						4,200
Goodwill						(300)
Other liabilities, net						600
Accounts payable and accrued expenses						300
TRA Exchange						13,300
Revision of Prior Period, Reclassification, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Professional fees						(3,400)
Revision of Prior Period, Reclassification, Adjustment \| Management/advisory fees
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Revenues						$ (3,400)
Revision of Prior Period, Change in Accounting Principle, Adjustment \| Classification changes, liability to equity
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Gain (loss) on warrant liabilities	$ 3,900	$ 400	$ (300)

Equity-Based Compensation

12 Months Ended

Dec. 31, 2024

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 of directors 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 11,788,132, of which 1,213,605 remain available as of December 31, 2024. 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 December 31, 2024, the Company has an unrecognized equity-based compensation expense of $18.4 million, which is expected to be recognized over a weighted average period of 1.74 years.

The following table summarizes the equity-based compensation award activity for the years ended December 31, 2024, and December 31, 2023:


	December 31, 2024			December 31, 2023
	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	4,797,464	$	4.64	—	$	—
Restricted common stock granted	4,181,243	5.18		7,514,293	6.44
Restricted common stock forfeited	(938,383)	4.86		(182,627)	4.35
Restricted common stock vested	(1,823,811)	4.99		(2,534,202)	9.99
Restricted common stock awards outstanding at end of period	6,216,513	$	4.86	4,797,464	$	4.64

The following table summarizes the equity-based compensation recognized, which is included in Compensation and employee benefits in the Consolidated Statement of Operations, during the years ended December 31, 2024, and December 31, 2023:


	For the Year Ended
(Dollars in Thousands)		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
RSUs		$	10,554	$	36,779	$	—
PRSUs		3,241		—		—
Acquisition-related		6,891		6,968		3,716
TIH SPA		—		1,178		—
Revenue share		1,077		1,249		—
Deferred compensation		4,523		—		—
Total		$	26,287	$	46,174	$	3,716

RSUs

In connection with the Business Combination, certain of TWMH’s restricted units vested and the Company granted fully vested shares to Alvarium’s employees, resulting in compensation expense of $4.2 million and $24.6 million, respectively, during the year ended December 31, 2023. The $24.6 million consisted of $21.0 million related to the acceleration of 2.1 million of earn-out shares at closing and $3.6 million for 360,485 shares related to another transaction completed in contemplation of and for the benefit of the acquirer under Topic 805. None of these stock awards were outstanding after the Business Combination.

Upon completion of the Business Combination, the Company issued 60,800 shares of Class A Common Stock to employees of the Company. These awards vested in full immediately and had a fair value of $10.00 per share, resulting in compensation expense of $0.6 million for the year ended December 31, 2023.

On March 23, 2023, in connection with the Business Combination, the Company granted 65,554 RSUs to its board of directors, which vested over an approximate nine-month period and had a fair value of $12.56 per share. On March 1, 2024, the Company granted 138,564 RSUs to its board of directors, which vest over a four-

month period and had a fair value of $5.87 per share. On June 27, 2024, the Company granted 123,732 RSUs to its board of directors, which vest over a twelve-month period and had a grant date fair value of $4.91 per share. On August 2, 2024, the Company granted 45,549 RSUs to its board of directors, which vest over an eleven-month period and had a grant date fair value of $4.38 per share. These grants resulted in compensation expense of $1.2 million and $0.8 million for the years ended December 31, 2024 and December 31, 2023, respectively.

On May 31, 2023, the Company granted 4,697,317 RSUs to its employees, which vest over a three-year period and had a fair value of $4.35 per share. On June 5, 2024, the Company granted 2,219,661 RSUs to its employees, which vest over a three-year period and had a fair value of $4.78 per share. These grants resulted in compensation expense of $8.6 million and $5.4 million for the years ended December 31, 2024 and December 31, 2023, respectively. Since the initial grant date of these awards, 857,939 shares have been forfeited.

On various dates throughout 2023, the Company granted 111,148 and 118,987 RSUs to employees, representative of buy-out equity awards as restricted units, vesting generally over a one to three year period, with a fair value of $7.66 and $8.72, respectively, per share. On February 6, 2024, the Company granted 29,154 shares of Class A Common Stock to employees, representative of buy-out equity awards as restricted units, vesting over a two year period, with a fair value of $5.36 per share. On December 23, 2024, the Company granted 57,458 shares of Class A Common Stock to employees, representative of buy-out equity awards as restricted units, vesting over a three year period, with a fair value of $4.14 per share. The Company recognized compensation expense of $0.8 million and $1.0 million for the years ended December 31, 2024 and December 31, 2023, respectively, related to these buy-out equity awards.

PRSUs

The Company grants PRSUs to selected members of AlTi’s executive team. Vesting of the PRSUs is based on meeting certain market conditions and the requisite service period. The PRSUs are eligible to vest on a graded basis at the end of each of three annual performance periods, subject to the employee’s continued service with the Company through the applicable performance period, and are only earned upon achievement of total shareholder return of the Company’s Class A Common Stock exceeding certain thresholds.

On June 5, 2024, the Company granted 1,567,125 PRSUs to participants and used a Monte Carlo simulation model to determine the average grant date fair value of $5.76 per share using the following model inputs and assumptions: i) ending average stock price of $4.78, ii) volatility rate of 62.1%, iii) risk free rate of 4.5% and iv) expected term of 2.88 years. Compensation expense associated with the PRSUs will be recognized over the longer of the expected achievement period for the service or market condition. These grants resulted in compensation expense of $3.2 million for the year ended December 31, 2024.

Acquisition-Related Equity-Based Compensation Awards

In connection with TWMH’s historical acquisition of Holbein Partners, LLP (“Holbein”), certain employees of Holbein are entitled to receive a combination of cash and shares of the Company based on Holbein revenues in 2023 and 2024 (the “Holbein Earn-Ins”). The Holbein Earn-Ins were measured at fair value using estimates of future revenues as of the closing date. The earn-ins are expected to be paid in a combination of 50% cash and 50% in shares of the Company’s Class A Common Stock on the second and third anniversaries of the closing date of January 7, 2022. On July 14, 2023, the Company amended the Holbein purchase agreement related to the Holbein acquisition. The amendment crystallized the contingent earn-in consideration amount by replacing the valuation of the Holbein Earn-Ins consideration of an estimate of future revenue. Additionally, the first payment date and second payment date are agreed as April 1, 2024, and April 1, 2025, respectively, replacing the original share purchase agreement payment dates of ten business days after the second and third anniversary of the acquisition of Holbein. The agreed upon first and second date payments are $7.1 million and $8.9 million,

respectively. The selling shareholders remain required to maintain certain service agreements to receive the compensatory Holbein Earn-ins. The number of shares awarded will be calculated based on the twenty day average volume weighted average price of the Company’s Class A Common Stock preceding the first and second payment dates. The Company recognized an expense for the earn-ins of $4.1 million, $7.0 million and $3.7 million for the years ended December 31, 2024, 2023 and 2022 , respectively.

Separate from the compensatory Holbein Earn-Ins, the Holbein acquisition consideration included contingent consideration that was measured at fair value using estimates of future revenues as of the closing date. The acquisition consideration was also amended to crystallize the non-compensatory earn-in amount and follows the same pattern as the above-described amendment for the compensatory earn-ins. As of December 31, 2024, and December 31, 2023, this contingent consideration is recorded as a liability of $0.9 million and $1.8 million in the Earn-in consideration payable line of the Consolidated Statement of Financial Condition and Consolidated Statement of Financial Condition, respectively.

In connection with the Company’s acquisition of East End Advisors (see Note 3 Business Combinations and Divestitures), certain employees of East End Advisors are entitled to receive a portion of the contingent consideration comprised of a combination of additional cash and shares of the Company (the “EEA Equity Awards”) based on the future EBITDA performance targets between the closing date of April 3, 2024 and the fifth anniversary of the closing date. The portion of the EEA Equity Awards to be issued in shares was measured at fair value as of the closing date. The Company recognized compensation expense for the estimated shares in relation to the accrual of the EEA Equity Awards of $1.6 million for the year ended December 31, 2024.

In connection with the Company’s acquisition of PW (see Note 3 Business Combinations and Divestitures), certain employees of PW are entitled to receive additional shares of the Company (the “PW Equity Awards”). The PW Equity Awards are payable in equity upon the achievement of certain integration milestones and are due for payment no later than March 1, 2025. The Company recognized compensation expense in relation to the accrual of the PW Equity Awards of $1.0 million for the year ended December 31, 2024.

In connection with the Company’s acquisition of Envoi (see Note 3 Business Combinations and Divestitures), certain employees of Envoi are entitled to receive a portion of the earn-out growth consideration liability comprised of a combination of cash and additional shares of the Company (the “Envoi Equity Awards”). Compensation expense related to the Envoi Equity Awards is determined in accordance with revenue based formulas provided for in the asset purchase agreement and are payable to eligible employees in 2028. The Company recognized compensation expense in relation to the accrual of the Envoi Equity Awards of $0.1 million for the year ended December 31, 2024.

Delayed Share Purchase Agreement

In connection with TWMH’s historical acquisition of TIH, the Delayed Share Purchase Agreement (“TIH SPA”) was amended on July 28, 2023. The TIH SPA was amended to include the Company’s Class A Common

Stock as part of the purchase price. On August 1, 2023, the Company granted 152,930 shares of Class A Common Stock with a fair value of $7.70 per share under the terms of the TIH SPA amendment. The amendment to the purchase price is compensatory in nature. The Company recognized compensation expense in relation to the accrual of the TIH SPA of $1.2 million for the year ended December 31, 2023, which is included in Compensation and employee benefits in the Consolidated Statement of Operations.

Revenue Share

During the years ended December 31, 2024, and December 31, 2023, the Company accrued $1.1 million and $1.2 million in compensation expense related to various revenue share arrangements to its employees, which is

included in Compensation and employee benefits in the Consolidated Statement of Operations and in Accrued compensation and profit sharing in the Consolidated Statement of Financial Position.

Deferred Compensation Liability

In connection with the ALWP Acquisition, during the year ended December 31, 2024, the Company accrued $4.5 million in shares of Class A Common Stock which is included in Compensation and employee benefits in the Consolidated Statement of Operations and in Accrued compensation and profit sharing in the Consolidated Statement of Financial Position.

Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Lease Expense and Supplemental Cash Flow Information

The components of lease costs are as follows:


	For the Year Ended
(Dollars in Thousands)		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Operating lease expense		$	12,680	$	8,782	$	2,974
Variable lease expense		2,709		3,165		1,353
Short-term lease expense		256		750		144
Total lease expense		$	15,645	$	12,697	$	4,471

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


	For the Year Ended
(Dollars in Thousands)	December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Operating cash flow information:
Operating cash flow from operating leases	$	8,027	$	7,131	$	2,930
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$	6,239	$	35,629	$	2,621

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


	As of December 31, 2024		As of December 31, 2023
Weighted-average remaining lease term	11.46		11.94
Weighted-average discount rate	5.99	%	6.22	%

Schedule of Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments for the Company’s operating leases as of December 31, 2024, are as follows:


	Future Minimum Rental Operating Leases
(Dollars in Thousands)
2025	$	8,849
2026	8,391
2027	7,763
2028	7,183
2029	6,352
2030 and beyond	58,476
Total lease payments	97,014
Less: Imputed interest	33,959
Present value of lease liabilities	$	63,055

Intangible Assets, net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 13.4	$ 14.1	$ 1.9

Related Party Transactions - Structure of Related Business Entities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Total income	$ (1,898)	$ (3,019)	$ 33
Equity method investee
Related Party Transaction [Line Items]
Total income	(31)	200
Management/advisory fees \| Equity method investee
Related Party Transaction [Line Items]
Total income	(357)	700
Compensation and employee benefits \| Equity method investee
Related Party Transaction [Line Items]
Total income	0	(1,800)
Other income/fees \| Equity method investee
Related Party Transaction [Line Items]
Total income	$ 2,219	$ (2,400)

- Definition

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

Income Taxes - Deferred Tax Assets And Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets
Net operating losses	$ 46,769	$ 23,273
Investment in partnership	15,321	7,158
Goodwill	1,503	201
Disallowed interest carryforward	8,337	4,376
Accruals and reserves	6,592	11,191
Operating Lease Liability	5,068	5,274
Other deferred tax asset	4,428	0
Total deferred tax assets	88,018	51,473
Deferred tax liabilities
Intangibles	17,353	17,649
Operating Lease - Right Of Use	5,047	5,299
Investment in partnership	0	0
Other deferred tax liability	1,436	627
Total deferred tax liabilities	23,836	23,575
Valuation allowance	(53,654)	(42,007)
Deferred Tax Assets, Net	$ 10,528
Deferred tax liabilities		$ (14,109)

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
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

Business Combinations and Divestitures - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jul. 01, 2024	May 09, 2024	Apr. 03, 2024	Dec. 31, 2023	Aug. 02, 2023	Apr. 06, 2023	Jan. 03, 2023	Dec. 31, 2022
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill	$ 377,842				$ 411,634				$ 530,547
Alvarium, TWMH And TIG
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents								$ 24,023
Investments at fair value								148,674
Equity method investments								42,185
Property, plant and equipment								3,996
Intangible assets								520,161
Goodwill								530,546
Operating lease right-of-use assets								28,487
Other assets								47,251
Total Assets Acquired								1,387,704
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable and accrued expenses								72,022
Accrued compensation and profit sharing								25,051
Accrued member distributions payable								12,803
Delayed share purchase agreement								1,818
Earn-in consideration payable								1,519
Operating lease liabilities								29,047
Debt								124,533
Deferred tax liability, net								34,640
Other liabilities								15,149
Total Liabilities Assumed								316,582
Total Assets Acquired and Liabilities Assumed								1,071,122
Non-controlling interest in subsidiaries								(6)
Total Assets Acquired and Liabilities Assumed, Less Noncontrolling Interest								1,071,116
Alvarium, TWMH And TIG \| Management/advisory fees
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Management/advisory fees receivable								$ 42,381
AlTi Wealth Management (Singapore) Pte Limited (“ALWP”)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents							$ 1,092
Property, plant and equipment							644
Intangible assets							12,300
Goodwill							3,836
Operating lease right-of-use assets							1,048
Other assets							474
Total Assets Acquired							21,346
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable and accrued expenses							368
Operating lease liabilities							1,048
Other liabilities							4,400
Total Liabilities Assumed							5,816
Total Assets Acquired and Liabilities Assumed							15,530
AlTi Wealth Management (Singapore) Pte Limited (“ALWP”) \| Management/advisory fees
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Management/advisory fees receivable							$ 1,952
AlTi Wealth Management (Switzerland) SA (“AWMS”)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents						$ 1,401
Equity method investments						57
Intangible assets						9,679
Goodwill						15,146
Operating lease right-of-use assets						298
Other assets						323
Total Assets Acquired						27,961
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable and accrued expenses						784
Operating lease liabilities						298
Other liabilities						2,944
Total Liabilities Assumed						4,026
Total Assets Acquired and Liabilities Assumed						23,935
AlTi Wealth Management (Switzerland) SA (“AWMS”) \| Management/advisory fees
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Management/advisory fees receivable						$ 1,057
East End Advisors, LLC ("EEA")
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents				$ 218
Intangible assets				62,700
Goodwill				30,094
Operating lease right-of-use assets				2,326
Other assets				1,181
Total Assets Acquired				96,531
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable and accrued expenses				79
Operating lease liabilities				2,326
Other liabilities				1,012
Total Liabilities Assumed				3,417
Total Assets Acquired and Liabilities Assumed				93,114
East End Advisors, LLC ("EEA") \| Management/advisory fees
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Management/advisory fees receivable				$ 12
Pointwise Partners Limited ("PW")
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents			$ 269
Intangible assets			9,700
Goodwill			6,747
Other assets			20
Total Assets Acquired			16,736
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable and accrued expenses			589
Deferred tax liability, net			1,749
Other liabilities			292
Total Liabilities Assumed			2,630
Total Assets Acquired and Liabilities Assumed			$ 14,106
Envoi, LLC (“Envoi”)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		$ 23,300
Goodwill		10,824
Operating lease right-of-use assets		196
Other assets		157
Total Assets Acquired		34,477
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Accounts payable and accrued expenses		1
Operating lease liabilities		218
Total Liabilities Assumed		219
Total Assets Acquired and Liabilities Assumed		$ 34,258

Consolidated Statement of Financial Position - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 65,494	$ 15,348
Investments at fair value	148,674	165,894
Equity method investments	27,517	14,194
Intangible assets, net of accumulated amortization	469,563	435,677
Goodwill	377,842	411,634
Operating lease right-of-use assets	50,436	48,313
Deferred tax asset, net	21,505	0
Other assets, net	59,797	48,182
Contingent consideration receivable	1,389	0
Assets held for sale	0	56,634
Total assets	1,255,833	1,266,297
Liabilities
Accounts payable and accrued expenses	33,976	37,156
Accrued compensation and profit sharing	60,074	61,768
Accrued member distributions payable	3,355	7,271
Earn-out liabilities, at fair value	64,639	63,444
TRA liability (includes $9,378 and $13,233 at fair value, respectively)	28,765	17,607
Preferred stock tranche liability, at fair value	3,940	0
Delayed share purchase agreement	0	1,818
Earn-in consideration payable	932	1,830
Operating lease liabilities	63,055	56,123
Debt, net of unamortized deferred financing cost	0	186,353
Deferred tax liability, net	10,977	14,109
Other liabilities, net	15,925	22,533
Liabilities held for sale	0	13,792
Total liabilities	285,638	483,804
Commitments and contingencies (Note 20)
Shareholders’ Equity
Additional paid-in capital	652,857	536,509
Retained earnings (accumulated deficit)	(296,561)	(193,527)
Accumulated other comprehensive income (loss)	(1,569)	9,155
Total AlTi Global, Inc. shareholders’ equity	658,402	352,144
Non-controlling interest in subsidiaries	311,793	430,349
Total shareholders’ equity	970,195	782,493
Total liabilities, mezzanine equity, and shareholders’ equity	1,255,833	1,266,297
Series A Preferred Stock
Mezzanine Equity
Preferred stock	142,858	0
Series C Preferred Stock
Mezzanine Equity
Preferred stock	160,808	0
Class A Common Stock
Shareholders’ Equity
Common stock	9	7
Class B Common Stock
Shareholders’ Equity
Common stock	0	0
Class C Common Stock
Shareholders’ Equity
Common stock	0	0
Fees receivable
Assets
Fees receivable, net (includes $920 and $16,069 of related party receivables, respectively)	$ 33,616	$ 70,421

Earnings Per Share - Treatment for Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ in Millions	Feb. 22, 2024	Jun. 07, 2023
Class of Warrant or Right [Line Items]
Number of securities called by warrants or rights (in shares)		19,892,387
Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Tranche Right \| Series A Preferred Stock \| Allianz Investment Agreement
Class of Warrant or Right [Line Items]
Number of securities called by warrants or rights (in shares)	50,000
Value of securities called by warrant or right	$ 50

Segment Reporting - Revenue By Geography (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total Revenues	$ 206,935	$ 246,917	$ 76,872
United States
Segment Reporting Information [Line Items]
Total Revenues	134,893	153,899	72,181
United Kingdom
Segment Reporting Information [Line Items]
Total Revenues	33,163	54,949	3,863
Rest of World
Segment Reporting Information [Line Items]
Total Revenues	$ 38,879	$ 38,069	$ 828

- Definition

+ References

+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2024
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 December 31, 2024 that require adjustment to or disclosure in the consolidated financial statements, except as noted below. Tolleson Wealth Management As mentioned in Note 20 (Commitments and Contingencies), the Company and Tolleson entered into an out-of-court settlement memorandum during mediation proceedings related to a dispute involving former Tolleson employees. On February 19, 2025, the Company and Tolleson entered into a binding settlement agreement memorializing the terms agreed to in mediation and concluding this matter. On March 13, 2025, the settlement amount of $5.1 million was paid. Kontora Family Office GmbH On March 6, 2025, the Company announced its agreement to acquire Kontora Family Office GmbH (“Kontora”). Kontora is a multi-family office and asset management company headquartered in Hamburg, Germany, focused on ultra high net worth families, entrepreneurs and select institutions. Kontora has AUM of approximately €14 billion as of the announcement date. The transaction is expected to close early in the second quarter of 2025 and remains subject to customary closing conditions.

Intangible Assets, net

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, net

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


	As of December 31, 2024
(Dollars in Thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount (2)		Impairment		Accumulated Amortization		Net Carrying Amount
Intangible assets
Amortizing intangible assets
Customer relationships	22.3	$	277,117	$	—	$	(18,999)	$	258,118
Investment management agreements	0.0	2,351		(2,104)		(247)		—
Trade names	9.4	12,198		(110)		(2,498)		9,590
Acquired internally developed software	5.0	1,300		—		(445)		855
Other intangible asset	0.0	622		—		(622)		—
Total amortized intangible assets		293,588		(2,214)		(22,811)		268,563
Non-amortized intangible assets (1)
Investment management agreements (3)		245,900		(44,900)		—		201,000
Total intangible assets		$	539,488	$	(47,114)	$	(22,811)	$	469,563

(1) The Company’s non-amortized intangible assets consist of management contracts for open-ended fund products, in which there is no contractual termination date.


	As of December 31, 2023
(Dollars in Thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount (3)		Impairment		Disposal		Held for Sale		Accumulated Amortization		Net Carrying Amount
Intangible assets
Amortizing intangible assets
Customer relationships	25.3	$	186,832	$	—	$	(254)	$	(2,128)	$	(7,180)	$	177,270
Investment management agreements (1)	19.6	100,269		(50,283)		—		(43,299)		(4,545)		2,142
Trade names	10	14,945		(2,635)		—		(1,231)		(1,514)		9,565
Acquired internally developed software	5	1,000		—		—		—		(200)		800
Other intangible asset	0	622		—		—		—		(622)		—
Total amortized intangible assets		303,668		(52,918)		(254)		(46,658)		(14,061)		189,777
Non-amortized intangible assets (2)
Investment management agreements		245,900		—		—		—		—		245,900
Total intangible assets		$	549,568	$	(52,918)	$	(254)	$	(46,658)	$	(14,061)	$	435,677

(2) The Company’s non-amortized intangible assets consist of management contracts for open-ended fund products, in which there is no contractual termination date.

(3) Gross carrying amounts related to the Company’s intangible assets include foreign currency translation differences of $7.4 million as of December 31, 2023.

Amortization expense of approximately $13.4 million, $14.1 million and $1.9 million for the years ended December 31, 2024, 2023 and 2022, 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 December 31, 2024

2025	$	15,300
2026	15,300
2027	15,300
2028	15,100
2029 and beyond	207,563
Total	$	268,563

Investments

12 Months Ended

Dec. 31, 2024

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 Loss on investments in the Consolidated Statement of Operations.

The Cost and Fair Value of Investments as of December 31, 2024 and December 31, 2023 are presented below:


	As of December 31, 2024				As of December 31, 2023
(Dollars in Thousands)	Cost		Fair Value		Cost		Fair Value
Investments at Fair Value:
Mutual funds	$	122	$	105	$	93	$	75
Exchange-traded funds	101		112		105		108
TIG Arbitrage Associates Master Fund	482		515		482		500
TIG Arbitrage Enhanced Master Fund	179		229		179		231
TIG Arbitrage Enhanced	—		—		682		776

Arkkan Opportunities Feeder Fund	111		139		111		119

Arkkan Capital Management Limited	20,062		21,181		20,062		24,822
Zebedee Asset Management	68,913		80,127		68,913		69,454
Romspen Investment Corporation (1)	72,523		46,260		72,523		69,802

Other	6		6		7		7

Total Investments at fair value	$	162,499	$	148,674	$	163,157	$	165,894

Equity method investments:
Real estate equity method investments	$	5,863	$	5,863	$	9,311	$	9,311
Wealth management - investment advisory	$	20,404	$	20,404	$	2,505	$	2,505
Carried interest vehicles	$	1,250	$	1,250	$	2,378	$	2,378
Total Equity method investments	27,517		27,517		14,194		14,194

Total	$	190,016	$	176,191	$	177,351	$	180,088

(1) The fair value of this investment is reported on a one-month lag from the fund financial statements due to timing of the information provided by the fund and third-party entity unless information is available on a more timely basis. As a result, any changes in the markets in which our managed funds operate, and the impact market conditions have on underlying asset valuations, may not yet be reflected in reported amounts.

The Company’s Investments at fair value include unrealized gains (losses) and realized gains (losses) in the Consolidated Statement of Financial Position.

The breakdown of unrealized gains (losses) and realized gains (losses) on Investments at fair value for the relevant periods are as follows:


	For the Year Ended
(Dollars in Thousands)		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Gains (Losses) on Investments at fair value:
Realized gains (losses)		$	(15)	$	1	$	(68)
Unrealized gains (losses)		(16,491)		2,749		247
Total gains (losses) on Investments at fair value		$	(16,506)	$	2,750	$	179

Goodwill, net (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Reconciliation of Goodwill, Net


	As of December 31, 2024
(Dollars in Thousands)	Wealth & Capital Solutions		International Real Estate		Total

Beginning Balance
Gross goodwill	$	321,154	$	90,480	$	411,634
Accumulated impairment losses	—		—		—
Net goodwill:	$	321,154	$	90,480	$	411,634

Goodwill acquired during the period	$	44,065	$	—	$	44,065
Impairment charges	(29,367)		(40,357)		(69,724)
Resegmentation of U.S. Asset Management (1)	40,625		(40,625)		—
Measurement period adjustments	3,600		—		3,600
Currency translation and other adjustments	(2,235)		(9,498)		(11,733)
	$	56,688	$	(90,480)	$	(33,792)
Ending Balance
Gross goodwill	$	377,842	$	—	$	377,842
Accumulated impairment losses	—		—		—
Net goodwill	$	377,842	$	—	$	377,842

(1) As of the third quarter ended September 30, 2024, the Company changed its segments. Prior year disclosures have not been restated. See Note 18 (Segment Reporting) for more information.


	As of December 31, 2023
(Dollars in Thousands)	Wealth Management		Strategic Alternatives				Total

Beginning Balance
Gross goodwill	$	298,118	$	232,429	$	—	$	530,547

Net goodwill:	$	298,118	$	232,429			$	530,547

Goodwill acquired during the period	$	18,972	$	—			$	18,972
Impairment charges	—		(153,859)				(153,859)

Currency translation and other adjustments	4,064		11,910		—		15,974
	$	23,036	$	(141,949)			$	(118,913)
Ending Balance
Gross goodwill	$	321,154	$	90,480			$	411,634
Net goodwill	$	321,154	$	90,480			$	411,634

- 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
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-Paragraph 1
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

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

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

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-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

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2024
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 December 31, 2024 and December 31, 2023, the liability associated with the TRA was approximately $28.8 million and $17.6 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 December 31, 2024 and December 31, 2023, the Company carried $9.4 million and $13.2 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. On August 31, 2023, holders of Class B Units exchanged 1,813,248 Class B Paired Interests with the Company, for shares of Class A Common Stock on a 1:1 basis totaling an amount equal to $7.31 multiplied by the total number of shares of Class A Common Stock received at the time of the transaction. On March 11, 2024, holders of Class B Units exchanged 4,954,518 Class B Paired Interests with the Company, for shares of Class A Common Stock on a 1:1 basis totaling an amount equal to $6.61 multiplied by the total number of shares of Class B Paired Interests exchanged at the time of the transaction. On May 14, 2024, holders of Class B Units exchanged 286,242 Class B Paired Interests with the Company, for shares of Class A Common Stock on a 1:1 basis totaling an amount equal to $4.69 multiplied by the total number of shares of Class B Paired Interests exchanged at the time of the transaction. On August 19, 2024, holders of Class B Units exchanged 1,840,077 Class B Paired Interests with the Company, for shares of Class A Common Stock on a 1:1 basis totaling an amount equal to $4.06 multiplied by the total number of shares of Class B Paired Interests exchanged at the time of the transaction. 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 December 31, 2024, 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 $28.8 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, as described in Note 3 (Business Combinations and Divestitures)), 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 December 31, 2024 and December 31, 2023, the fair value of the earn-out shares was $23.8 million and $62.4 million, respectively. See Note 2 (Summary of Significant Accounting Policies) for additional detail. AWMS Earn-out Liability On August 2, 2023, the Company acquired the remaining 70% of the issued and outstanding ownership and membership interests of AWMS, increasing its interest from 30% to 100%. The AWMS Acquisition was accounted for using the acquisition method of accounting and the fair value of the total purchase consideration transferred was $16.8 million. The total purchase consideration transfer included cash consideration, equity consideration, deferred cash consideration, earn-out consideration, (or AWMS earn-out liability), and the payment of assumed liabilities. During the fourth quarter of 2024, the AWMS earn-out liability was fully paid. As of December 31, 2024 and December 31, 2023, the AWMS earn-out liability of $0.0 million and $1.1 million, respectively, is reported in Earn-out liabilities, at fair value, in the Consolidated Statement of Financial Position. Since the AWMS earn-out liability meets the definition of a derivative, it is recorded at fair value as a derivative liability on the Consolidated Statement of Financial Position and measured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value to be recognized in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change. See Note 2 (Summary of Significant Accounting Policies) for additional detail. 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 December 31, 2024, the EEA earn-out liability of $29.9 million is reported in Earn-out liabilities, at fair value, in the Consolidated Statement of Financial Position. Since the EEA earn-out liability meets the definition of a derivative, it is recorded at fair value as a derivative liability on the Consolidated Statement of Financial Position and measured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value to be recognized in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change. See Note 2 (Summary of Significant Accounting Policies) for additional detail. 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 measured at fair value at the acquisition date and recorded within the Other liabilities line item in the Consolidated Statement of Financial Position. 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 December 31, 2024,the Envoi earn-out consideration liability of $9.6 million and the Envoi earn-out growth consideration liability of $1.3 million are reported in the Earn-out liabilities, at fair value, in the Consolidated Statement of Financial Position. The fair values will be remeasured at each reporting date in accordance with ASC 820, Fair Value Measurement, which changes in the fair value of the Envoi earn-out liability recognized in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change. See Note 2 (Summary of Significant Accounting Policies) for additional detail. 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 December 31, 2024, the Company has existing letters of credit in the amount of $3.4 million 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 December 31, 2024 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 condition, or cash flows. Home REIT Home REIT is a real estate investment trust company listed on the London Stock Exchange. AFM UK was its 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. AFM UK is a wholly owned subsidiary of the Company. AHRA was owned by ARE (another wholly owned subsidiary of the Company) 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. It is not possible at this point in time for us to reliably assess what the quantum of such claims might be, or AFM UK’s and/or ARE’s potential exposure, though they may potentially be material. Our intent is that any litigation or other action commenced by current and/or former shareholders of Home REIT against AFM UK and/or ARE will be defended vigorously. However, if any claims were commenced, we would anticipate that such claims may involve complex questions of law and fact, and significant legal expenses may be incurred in defending such litigation. 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. It is not possible at this point in time for us to reliably assess what the quantum of such claims might be, or AFM UK’s and ARE’s potential exposure, though they may potentially be material. Our intent is that any litigation or other action commenced by Home REIT and/or its directors against AFM UK and/or ARE will be defended vigorously. However, if any claims were commenced, we would anticipate that such claims may involve complex questions of law and fact, and significant legal expenses may be incurred in defending such litigation. 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 is managed by AFM UK as its AIFM and ‘authorized corporate director’ and is advised by SHIA. 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 group 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 intend to cooperate fully with the UK FCA as it conducts the investigations. 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. 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. The lost fee clause is applicable for two years from date of departure and requires payment of 75% of one year of lost revenue for each departing client that follows the former Tolleson employees, to be paid over two years. 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 in September 2024, dismissing the litigation and agreeing to mediation. As of December 31, 2024, the Company and Tolleson reached a tentative out-of-court settlement agreement during mediation. The settlement consisted of $4.1 million related to 125% of one year of lost revenue for Tolleson and $1 million in attorneys’ fees to be paid by the Company to Tolleson. 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.

Business Combinations and Divestitures - Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 01, 2024	May 09, 2024	Apr. 03, 2024	Aug. 02, 2023	Apr. 06, 2023	Jan. 03, 2023
Alvarium, TWMH And TIG
Acquisition Date Fair Value
Total intangible assets acquired						$ 520,161
Useful life (in years)						23 years
Alvarium, TWMH And TIG \| Investment management agreements
Acquisition Date Fair Value
Indefinite-Lived Intangible Assets						$ 245,900
Alvarium, TWMH And TIG \| Trade names
Acquisition Date Fair Value
Definite-Lived Intangible Assets						$ 14,695
Useful life (in years)						9 years 10 months 24 days
Alvarium, TWMH And TIG \| Customer relationships
Acquisition Date Fair Value
Definite-Lived Intangible Assets						$ 163,392
Useful life (in years)						27 years 1 month 6 days
Alvarium, TWMH And TIG \| Investment management agreements
Acquisition Date Fair Value
Definite-Lived Intangible Assets						$ 94,575
Useful life (in years)						18 years 4 months 24 days
Alvarium, TWMH And TIG \| Developed Technology
Acquisition Date Fair Value
Definite-Lived Intangible Assets						$ 1,000
Useful life (in years)						5 years
Alvarium, TWMH And TIG \| Backlog
Acquisition Date Fair Value
Definite-Lived Intangible Assets						$ 599
Useful life (in years)						6 months
AlTi Wealth Management (Singapore) Pte Limited (“ALWP”)
Acquisition Date Fair Value
Definite-Lived Intangible Assets					$ 12,300
Total intangible assets acquired					$ 12,300
Useful life (in years)					10 years
AlTi Wealth Management (Switzerland) SA (“AWMS”)
Acquisition Date Fair Value
Total intangible assets acquired				$ 9,679
AlTi Wealth Management (Switzerland) SA (“AWMS”) \| Customer relationships
Acquisition Date Fair Value
Definite-Lived Intangible Assets				$ 9,679
Useful life (in years)				14 years
East End Advisors, LLC ("EEA")
Acquisition Date Fair Value
Total intangible assets acquired			$ 62,700
East End Advisors, LLC ("EEA") \| Trade names
Acquisition Date Fair Value
Definite-Lived Intangible Assets			$ 1,400
Useful life (in years)			5 years
East End Advisors, LLC ("EEA") \| Customer relationships
Acquisition Date Fair Value
Definite-Lived Intangible Assets			$ 61,000
Useful life (in years)			17 years
East End Advisors, LLC ("EEA") \| Developed Technology
Acquisition Date Fair Value
Definite-Lived Intangible Assets			$ 300
Useful life (in years)			5 years
Pointwise Partners Limited ("PW")
Acquisition Date Fair Value
Total intangible assets acquired		$ 9,700
Pointwise Partners Limited ("PW") \| Customer relationships
Acquisition Date Fair Value
Definite-Lived Intangible Assets		$ 9,700
Useful life (in years)		14 years
Envoi, LLC (“Envoi”)
Acquisition Date Fair Value
Total intangible assets acquired	$ 23,300
Envoi, LLC (“Envoi”) \| Customer relationships
Acquisition Date Fair Value
Definite-Lived Intangible Assets	$ 23,300
Useful life (in years)	15 years

Other assets, net and Other liabilities, net

12 Months Ended

Dec. 31, 2024

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 Consolidated Statement of Financial Position.


(Dollars in Thousands)	As of December 31, 2024		As of December 31, 2023
Fixed assets, net:
Leasehold improvements	$	17,736	$	4,978
Office equipment and furniture	3,329		3,489
Foreign currency translation difference	168		(270)
Accumulated depreciation and amortization	(5,092)		(5,665)
Fixed assets, net	16,141		2,532
Lease incentive receivables	5,522		7,038
Accrued income	16,011		17,124
Prepaid expenses	9,116		8,045
Sundry receivables	6,744		5,664
Other receivables	5,321		5,166
Other assets	942		2,613
Other assets, net (1)	$	59,797	$	48,182

(1) As of December 31, 2024 and December 31, 2023, these amounts include $3.5 million and $6.7 million, respectively, in receivables due from related parties. See Note 17 (Related Party Transactions) for further details.

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


(Dollars in Thousands)	As of December 31, 2024	As of December 31, 2023
AWMS deferred cash consideration	—	7,135
PW deferred consideration	3,339	—

Payroll	—	5,202
Corporation tax payable	2,342	—
Sundry	3,556	3,422
Other	1,563	6,775
Accrued legal	5,125	—


Other Liabilities, net (1)	15,925	22,533

(1) As of December 31, 2024 and December 31, 2023, these amounts include $3.6 million and $8.4 million, respectively, in liabilities due to related parties. Additionally, certain reclassifications have been made during the current period and are no longer comparable to the

year ended December 31, 2023. See Note 17 (Related Party Transactions) and Note 2 (Summary of Significant Accounting Policies), respectively, for further details.

Related Party Transactions - Due from TWMH Members (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) anniversary	Mar. 14, 2024 USD ($)
Related Party Transaction [Line Items]
Other receivables	$ 5,321	$ 5,166
TWMH Members \| Promissory Notes \| Related party
Related Party Transaction [Line Items]
Debt instrument, face amount			$ 1,500
Interest rate (in percent)			3.25%
Debt, including debt forgiveness portion			$ 1,100
Initial number of periods to determine if principal and accrued interest will be forgiven \| anniversary			5
Debt forgiveness, percentage of principal and accrued interest			20.00%
Due date, upon termination of employment (in days)			30 days
Debt instrument, face amount without debt forgiveness provision			$ 400
Forgiveness of debt shareholder loan	230	261	$ 280
Other receivables	$ 400	$ 700
Certain TWMH Member \| Promissory Notes \| Related party
Related Party Transaction [Line Items]
Debt instrument, face amount without debt forgiveness provision				$ 700

Commitments and Contingencies (Details) $ / shares in Units, $ in Thousands												12 Months Ended	18 Months Ended
	Mar. 19, 2025 USD ($)	Dec. 19, 2024 USD ($)	Aug. 19, 2024 $ / shares shares	Jul. 01, 2024 USD ($)	May 14, 2024 $ / shares shares	May 09, 2024 USD ($)	Apr. 03, 2024 USD ($)	Mar. 11, 2024 $ / shares shares	Aug. 31, 2023 $ / shares shares	Aug. 02, 2023 USD ($)	Jan. 03, 2023 USD ($)	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($)	Feb. 19, 2025 USD ($)	May 08, 2024	Apr. 12, 2024	Aug. 01, 2023	Dec. 31, 2022
Other Commitments [Line Items]
TRA liability												$ 28,765	$ 17,607
TRA liability, fair value												$ 9,378	13,233
Conversion ratio												1
Earn-out liabilities, at fair value												$ 64,639	$ 63,444
Outstanding letters of credit												$ 3,400
Percentage of losses sought																100.00%
Percentage decline in real estate investment portfolio													50.00%
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
Employment agreement, term of lost fee clause post departure date (in years)												2 years
Employment agreement, required payment of one year of lost revenue per departing client (in percent)												75.00%
Employment agreement, lost client fee clause, required payment, payment period (in years)												2 years
Settled Litigation \| Subsequent event
Other Commitments [Line Items]
Litigation settlement														$ 4,100
Litigation settlement as percentage of lost revenue for other party														125.00%
Litigation settlement, attorney fees														$ 1,000
Litigation settlement	$ 5,100
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 instrumnets		$ 5,000
Expiration date, from termination date (in years)		1 year
Commitment fee (in percent)		0.30%
Level 3
Other Commitments [Line Items]
TRA liability, fair value												$ 9,378	$ 13,233
Alvarium, TWMH And TIG
Other Commitments [Line Items]
Earn-out liabilities, at fair value												23,800	62,400
Total purchase consideration transferred											$ 1,071,116
Payment of assumed liabilities											$ 760
Alvarium, TWMH And TIG \| Level 3
Other Commitments [Line Items]
Earn-out liabilities, at fair value												23,848	62,380
AlTi Wealth Management (Switzerland) SA (“AWMS”)
Other Commitments [Line Items]
Earn-out liabilities, at fair value												0	1,100
Voting interest acquired (in percent)										70.00%
Equity interest (in percent)																	30.00%	30.00%
Equity interest, including subsequent acquisition (in percent)										100.00%
Total purchase consideration transferred										$ 16,754
Payment of assumed liabilities										$ 168
AlTi Wealth Management (Switzerland) SA (“AWMS”) \| Level 3
Other Commitments [Line Items]
Earn-out liabilities, at fair value												0	$ 1,064
East End Advisors, LLC ("EEA")
Other Commitments [Line Items]
Earn-out liabilities, at fair value							$ 23,300					29,900
Total purchase consideration transferred							93,114
Payment of assumed liabilities							$ 793
East End Advisors, LLC ("EEA") \| Level 3
Other Commitments [Line Items]
Earn-out liabilities, at fair value												29,871
Pointwise Partners Limited ("PW")
Other Commitments [Line Items]
Voting interest acquired (in percent)						50.00%
Equity interest (in percent)															50.00%
Equity interest, including subsequent acquisition (in percent)						100.00%
Total purchase consideration transferred						$ 7,954
Payment of assumed liabilities						$ 3,300
Envoi, LLC (“Envoi”)
Other Commitments [Line Items]
Earn-out liabilities, at fair value				$ 9,000
Total purchase consideration transferred				$ 34,258
Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability
Other Commitments [Line Items]
Earn-out liabilities, at fair value												9,600
Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability \| Level 3
Other Commitments [Line Items]
Earn-out liabilities, at fair value												9,600
Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Other Commitments [Line Items]
Earn-out liabilities, at fair value												1,300
Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability \| Level 3
Other Commitments [Line Items]
Earn-out liabilities, at fair value												$ 1,320
Class A Common Stock
Other Commitments [Line Items]
Conversion ratio			1		1			1	1		1
Converted shares (in shares) \| shares			1,840,077		286,242			4,954,518	1,813,248
Share price (in dollars per share) \| $ / shares			$ 4.06		$ 4.69			$ 6.61	$ 7.31
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 \| 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

Related Party Transactions - Fees Receivable, net (Details) - Fees receivable - Fees receivable, net - Related party - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Related Party Receivables	$ 116	$ 247
Due from TIG related fee arrangements
Related Party Transaction [Line Items]
Related Party Receivables	$ 804	$ 15,822

Segment Reporting - Net Income By Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue:
Total Revenues	$ 206,935	$ 246,917	$ 76,872
Wealth & Capital Solutions
Revenue:
Total Revenues	198,256	221,145
International Real Estate
Revenue:
Total Revenues	8,544	25,772
Corporate
Revenue:
Total Revenues	135	0
Management/advisory fees
Revenue:
Total Revenues	190,455	180,861	76,872
Management/advisory fees \| Wealth & Capital Solutions
Revenue:
Total Revenues	182,599	160,785
Management/advisory fees \| International Real Estate
Revenue:
Total Revenues	7,856	20,076
Management/advisory fees \| Corporate
Revenue:
Total Revenues	0	0
Incentive fees
Revenue:
Total Revenues	3,256	43,377	0
Incentive fees \| Wealth & Capital Solutions
Revenue:
Total Revenues	3,256	42,674
Incentive fees \| International Real Estate
Revenue:
Total Revenues	0	703
Incentive fees \| Corporate
Revenue:
Total Revenues	0	0
Distributions from investments
Revenue:
Total Revenues	12,304	17,185	0
Distributions from investments \| Wealth & Capital Solutions
Revenue:
Total Revenues	12,304	17,185
Distributions from investments \| International Real Estate
Revenue:
Total Revenues	0	0
Distributions from investments \| Corporate
Revenue:
Total Revenues	0	0
Other fees/income
Revenue:
Total Revenues	920	5,494	$ 0
Other fees/income \| Wealth & Capital Solutions
Revenue:
Total Revenues	97	501
Other fees/income \| International Real Estate
Revenue:
Total Revenues	688	4,993
Other fees/income \| Corporate
Revenue:
Total Revenues	$ 135	$ 0

- Definition

+ References

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

For financial reporting purposes, the components of income (loss) before income tax benefit were as follows:


	For the Year Ended
(Dollars in Thousands)	December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
U.S. Domestic	$	(75,928)	$	(7,708)	$	1,082
Foreign	(119,510)		(308,629)		(6,553)
Income (loss) before income tax benefit	$	(195,438)	$	(316,337)	$	(5,471)

Schedule of Components of Income Tax Expense (Benefit)

The following table presents the components of the Company’s income tax expense (benefit):


	For the Year Ended
(Dollars in Thousands)	December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Current income tax expense (benefit)
U.S. federal	$	613	$	803	$	320
State and local	1,230		170		224
Foreign	1,079		880		84
	$	2,922	$	1,853	$	628

Deferred income tax expense (benefit)
U.S. federal	$	(10,178)	$	(173)	$	(64)
State and local	(10,111)		(863)		(31)
Foreign	(3,766)		(11,351)		(6)
	$	(24,055)	$	(12,387)	$	(101)

Total income tax expense (benefit)
U.S. federal	$	(9,565)	$	630	$	256
State and local	(8,881)		(693)		193
Foreign	(2,687)		(10,471)		78
Total income tax expense (benefit)	$	(21,133)	$	(10,534)	$	527

Schedule of Effective Income Tax Rate Reconciliation

The following table sets forth the reconciliation of the Company’s effective rate to the statutory rate:


	For the Year Ended
(Dollars in Thousands)	December 31, 2024				December 31, 2023				December 31, 2022 (Predecessor)
U.S. federal tax expense (benefit) at statutory rate	$	(41,042)	21.0	%	$	(66,416)	21.0	%	$	(1,149)	21.0	%
State tax, net of federal benefit	(9,065)		4.7	%	(1,119)		0.4	%	38		(0.7)	%
Goodwill Impairment	14,640		(7.6)	%	32,254		(10.2)	%	—		—	%
Exempt income	—		—	%	(6,524)		2.1	%	127		(2.3)	%
Non-deductible Professional Fees	653		(0.3)	%	3,616		(1.1)	%	—		—	%
Change in fair value of warrant liability	—		—	%	2,702		(0.9)	%	—		—	%
Change in fair value of contingent consideration	(6,129)		3.2	%	(5,500)		1.7	%	—		—	%
Other Permanent differences	1,631		(0.8)	%	8		—	%	3		(0.1)	%
Prior period adjustments	49		—	%	(246)		0.1	%	(2)		—	%
Change in Valuation Allowance	10,074		(5.2)	%	28,700		(9.1)	%	1,393		(25.5)	%
Foreign rate differential	(647)		0.3	%	236		(0.1)	%	116		(2.1)	%
Stock based compensation	806		(0.4)	%	145		—	%	—		—	%
Capital payments	1,465		(0.8)	%	—		—	%	—		—	%
Rate Change	(931)		0.5	%	247		(0.1)	%	—		—	%
Net impact of non-controlling interest	7,363		(3.8)	%	1,363		(0.4)	%	—		—	%
Total Effective Rate	$	(21,133)	10.8	%	$	(10,534)	3.3	%	$	527	(9.6)	%

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2024 and 2023 the income tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities were as follows:


(Dollars in Thousands)	December 31, 2024		December 31, 2023
Deferred tax assets
Net operating losses	$	46,769	$	23,273
Investment in partnership	15,321		7,158
Goodwill	1,503		201
Disallowed interest carryforward	8,337		4,376
Accruals and reserves	6,592		11,191
Operating Lease Liability	5,068		5,274
Other deferred tax asset	4,428		—
Total deferred tax assets	88,018		51,473

Deferred tax liabilities
Intangibles	$	17,353	$	17,649
Operating Lease - Right Of Use	5,047		5,299
Investment in partnership	—		—

Other deferred tax liability	1,436		627
Total deferred tax liabilities	23,836		23,575
Valuation allowance	(53,654)		(42,007)
Net deferred tax asset (liabilities)	$	10,528	$	(14,109)

Schedule of Unrecognized Tax Benefits Roll Forward

The following table presents a reconciliation of the Company’s total gross unrecognized tax benefits for the year ended December 31, 2024 and 2023:


(Dollars in Thousands)	December 31, 2024		December 31, 2023
Balance at January 1,	$	—	$	—
Additions, based on tax positions related to current year	—		—
Additions for tax positions of prior years	240		—
Reduction for tax positions of prior years	—		—
Settlements	—		—
Lapses in statues of limitations	—		—
Balance at December 31	$	240	$	—

Leases - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Future Minimum Rental Operating Leases
2025	$ 8,849
2026	8,391
2027	7,763
2028	7,183
2029	6,352
2030 and beyond	58,476
Total lease payments	97,014
Less: Imputed interest	33,959
Present value of lease liabilities	$ 63,055

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

The computation of the effective tax rate, tax provision and related income tax assets and liabilities are based on, among other things, an estimate of the impact of the exchanges of Common Units for shares of Class A Stock, inclusive of an analysis of tax basis and state tax implications of the Company and their underlying assets and liabilities. The Company’s estimate is based on the most recent information available and cannot be finally determined until the Company’s 2023 tax returns have been filed. The tax basis and impact of the Company and their underlying assets and liabilities are based on estimates subject to finalization of its tax returns.

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.

For financial reporting purposes, the components of income (loss) before income tax benefit were as follows:


	For the Year Ended
(Dollars in Thousands)	December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
U.S. Domestic	$	(75,928)	$	(7,708)	$	1,082
Foreign	(119,510)		(308,629)		(6,553)
Income (loss) before income tax benefit	$	(195,438)	$	(316,337)	$	(5,471)

The following table presents the components of the Company’s income tax expense (benefit):


	For the Year Ended
(Dollars in Thousands)	December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Current income tax expense (benefit)
U.S. federal	$	613	$	803	$	320
State and local	1,230		170		224
Foreign	1,079		880		84
	$	2,922	$	1,853	$	628

Deferred income tax expense (benefit)
U.S. federal	$	(10,178)	$	(173)	$	(64)
State and local	(10,111)		(863)		(31)
Foreign	(3,766)		(11,351)		(6)
	$	(24,055)	$	(12,387)	$	(101)

Total income tax expense (benefit)
U.S. federal	$	(9,565)	$	630	$	256
State and local	(8,881)		(693)		193
Foreign	(2,687)		(10,471)		78
Total income tax expense (benefit)	$	(21,133)	$	(10,534)	$	527

The following table sets forth the reconciliation of the Company’s effective rate to the statutory rate:


	For the Year Ended
(Dollars in Thousands)	December 31, 2024				December 31, 2023				December 31, 2022 (Predecessor)
U.S. federal tax expense (benefit) at statutory rate	$	(41,042)	21.0	%	$	(66,416)	21.0	%	$	(1,149)	21.0	%
State tax, net of federal benefit	(9,065)		4.7	%	(1,119)		0.4	%	38		(0.7)	%
Goodwill Impairment	14,640		(7.6)	%	32,254		(10.2)	%	—		—	%
Exempt income	—		—	%	(6,524)		2.1	%	127		(2.3)	%
Non-deductible Professional Fees	653		(0.3)	%	3,616		(1.1)	%	—		—	%
Change in fair value of warrant liability	—		—	%	2,702		(0.9)	%	—		—	%
Change in fair value of contingent consideration	(6,129)		3.2	%	(5,500)		1.7	%	—		—	%
Other Permanent differences	1,631		(0.8)	%	8		—	%	3		(0.1)	%
Prior period adjustments	49		—	%	(246)		0.1	%	(2)		—	%
Change in Valuation Allowance	10,074		(5.2)	%	28,700		(9.1)	%	1,393		(25.5)	%
Foreign rate differential	(647)		0.3	%	236		(0.1)	%	116		(2.1)	%
Stock based compensation	806		(0.4)	%	145		—	%	—		—	%
Capital payments	1,465		(0.8)	%	—		—	%	—		—	%
Rate Change	(931)		0.5	%	247		(0.1)	%	—		—	%
Net impact of non-controlling interest	7,363		(3.8)	%	1,363		(0.4)	%	—		—	%
Total Effective Rate	$	(21,133)	10.8	%	$	(10,534)	3.3	%	$	527	(9.6)	%

The Company had an effective tax rate of 10.8%, 3.3% and (9.6)% for the years ended December 31, 2024, 2023 and 2022, respectively. The effective tax rates differed from the statutory rate primarily due to the impact of valuation allowance with respect to deferred tax assets generated in the Company’s subsidiaries in the U.K. and in the Company’s investment in subsidiary, the portion of income allocated to noncontrolling interests, and goodwill impairment.

As of December 31, 2024 and 2023 the income tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities were as follows:


(Dollars in Thousands)	December 31, 2024		December 31, 2023
Deferred tax assets
Net operating losses	$	46,769	$	23,273
Investment in partnership	15,321		7,158
Goodwill	1,503		201
Disallowed interest carryforward	8,337		4,376
Accruals and reserves	6,592		11,191
Operating Lease Liability	5,068		5,274
Other deferred tax asset	4,428		—
Total deferred tax assets	88,018		51,473

Deferred tax liabilities
Intangibles	$	17,353	$	17,649
Operating Lease - Right Of Use	5,047		5,299
Investment in partnership	—		—

Other deferred tax liability	1,436		627
Total deferred tax liabilities	23,836		23,575
Valuation allowance	(53,654)		(42,007)
Net deferred tax asset (liabilities)	$	10,528	$	(14,109)

As of December 31, 2024, the Company has U.S. federal net operating losses (“NOLs”) of $60.7 million and foreign NOLs of $143.0 million that can be carried forward indefinitely until they are used. 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 asset may not be realized. As of December 31, 2024, the Company has recorded a valuation allowance against $16.8 million of NOLs generated by its U.S. operations and substantially all the foreign subsidiaries with NOL carryforwards are in a full valuation allowance position.

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 will be subject to examinations by the appropriate tax authorities. The Company is currently under examination by 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.

The following table presents a reconciliation of the Company’s total gross unrecognized tax benefits for the year ended December 31, 2024 and 2023:


(Dollars in Thousands)	December 31, 2024		December 31, 2023
Balance at January 1,	$	—	$	—
Additions, based on tax positions related to current year	—		—
Additions for tax positions of prior years	240		—
Reduction for tax positions of prior years	—		—
Settlements	—		—
Lapses in statues of limitations	—		—
Balance at December 31	$	240	$	—

- Definition

The entire disclosure for income tax.

+ References

Reference 1: 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 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/740/tableOfContent

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

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Paragraph 17
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: 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 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Description of the Business

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of the Business

AlTi is a leading independent global wealth manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies and advisory services. AlTi’s comprehensive offering is underscored by a commitment to impact or values-aligned investing. We manage or advise approximately $75.7 billion in combined assets as of December 31, 2024. Our business is organized into two operating segments - Wealth & Capital Solutions and International Real Estate:

•in our Wealth & Capital Solutions segment, we provide holistic solutions for our wealth management and OCIO clients through a comprehensive array of wealth management services, including discretionary investment management services, non-discretionary investment advisory services, trust services, administration services, and family office services. The segment also reflects the results of our internally managed event-driven strategy and our stakes in three externally managed alternative investment strategies;

•in our International Real Estate segment, we assist our investors with real estate co-investments by providing access to highly differentiated opportunities in these areas as well as structuring and selecting partners with a proven track record in alternative asset classes, with attractive risk adjusted return characteristics.

Consistent with management’s overall view of the core business, and following a strategic review conducted in

the third quarter of 2024, it was determined that the businesses reflected in the International Real Estate

segment are not additive to our long-term strategy. Several strategic options are currently under consideration,

and our objective is to finalize a course of action in the near future.

Business Combination

The Company was initially incorporated in the Cayman Islands as Cartesian Growth Capital, a special purpose acquisition company. In anticipation of the Business Combination:

•The holders of the equity of TWMH and the TIG Entities contributed their TWMH and TIG equity to Umbrella making TWMH and the TIG Entities wholly owned subsidiaries of Umbrella.

•Alvarium reorganized such that it became the wholly owned indirect subsidiary of AlTi Global Topco.

•Cartesian SPAC formed Umbrella Merger Sub.

Pursuant to the Business Combination on January 3, 2023:

•The Company was redomiciled as a Delaware corporation and changed its name to Alvarium Tiedemann Holdings, Inc. Effective April 19, 2023, Alvarium Tiedemann Holdings, Inc. changed its name to AlTi Global, Inc.

•The Registrant acquired all the outstanding share capital of AlTi Global Topco.

•Umbrella Merger Sub, LLC merged into Umbrella with AlTi Global Capital, LLC, formerly known as Alvarium Tiedemann Capital, LLC, as the surviving entity.

•The Company acquired 51% of the equity interests of Umbrella, while the existing TWMH and TIG rollover shareholders hold a 49% economic interest in Umbrella. Umbrella holds 100% of the equity interests of TWMH, TIG, and Alvarium.

Capital Structure

The Company has the following classes of shares and other instruments outstanding:

•Class A Common Stock – Shares of Class A Common Stock that are publicly traded. Class A shareholders are entitled to dividends on shares of Class A Common Stock declared by the Company’s board of directors. As of December 31, 2024, the shares of Class A Common Stock represent 62.0% of the total voting power of all shares of Common Stock.

•Class B Common Stock – Shares of Class B Common Stock that are not publicly traded. Class B shareholders are entitled to distributions declared by the Company’s board of directors. The distributions are paid by Umbrella. As of December 31, 2024, the shares of Class B Common Stock represent 30.5% of the total voting power of all shares of Common Stock.

•Prior to the Business Combination, the Company issued Warrants to purchase shares of Class A Common Stock at a price of $11.50 per share. Throughout the period from January 1, 2023 to March 31, 2023, 428,626 Warrants were exercised. On April 3, 2023, 78,864 Warrants were exercised. On June 7, 2023, the Company closed an offer and consent solicitation and entered into a warrant amendment, pursuant to which the remaining 19,892,387 Warrants were exchanged for 4,962,147 shares of Class A Common Stock. The exercises and exchanges throughout the period from January 1, 2023 to June 30, 2023 resulted in an increase in Additional paid-in-capital amount of $29.5 million. As of December 31, 2024, none of such Warrants were outstanding.

•Series A Cumulative Convertible Preferred Stock – On July 31, 2024, the Company completed the sale (the “Investment”) to Allianz Strategic Investments S.à.r.l., a Luxembourg private limited liability company (“Allianz”) (combined with the Investment, the “Allianz Transaction”) of (i) 140,000 shares of a newly created class of preferred stock designated Series A Cumulative Convertible Preferred Stock (the “Series A Preferred Stock”) and (ii) 19,318,580.96 shares of Class A Common Stock for an aggregate purchase price equal to $250 million (the “Allianz Closing”) and issued to Allianz warrants (the “Allianz Warrants”) to purchase 5,000,000 shares of Class A Common Stock at an exercise price of $7.40 per share. The Series A Preferred Stock will receive cumulative, compounding dividends at a rate of 9.75% per year, subject to annual adjustments based on the stock price of the Class A Common Stock during the fourth quarter of each applicable year (subject to a maximum rate of 9.75%) on the sum of (i) $1,000 per share plus, (ii) once compounded, any compounded dividends thereon ($1,000 per share plus accumulated compounded dividends and accrued but unpaid dividends through any date of determination). Dividends will be paid 50% in shares of Series A Preferred Stock, which will increase the stated value of the issued shares of Series A Preferred Stock, and 50% in shares of Class A Common Stock. The Series A Preferred Stock will also participate with any dividends or distributions declared on the Class A Common Stock. The Series A Preferred Stock has no voting rights and is subject to an ownership cap of 24.9% of the aggregate issued and outstanding shares of Class A Common Stock and Class B Common Stock.

In addition, on February 22, 2024, the Company entered into a Supplemental Series A Preferred Stock Investment Agreement with Allianz (the “Supplemental Investment Agreement”), pursuant to which, for purposes of funding one or more strategic international acquisitions by the Company or its subsidiaries, Allianz is permitted, at its option, to purchase up to 50,000 additional shares of Series A Preferred Stock up to an aggregate amount equal to $50 million (the “Allianz Tranche Right”). Additional Series A Preferred Stock issued upon exercise of the Allianz Tranche Right will abide by the same terms and conditions in the Investment Agreement at a price of $1,000 per share.

In connection with the Allianz Closing, on July 31, 2024 the Company (i) adopted and filed with the Secretary of State of the State of Delaware (x) a certificate of designations for the Series A Preferred Stock setting forth the rights, preferences, privileges and restrictions applicable to the Series A Preferred Stock and (y) an amendment to the Company’s certificate of incorporation to authorize and designate the Company’s Class C Non-Voting Common Stock, par value $0.0001 per share (the “Non-Voting Common Stock”), which was previously approved by the Company’s shareholders, and (ii) entered into an Investor Rights Agreement with Allianz pursuant to which, among other items, Allianz will have the right to nominate two directors to the Company’s Board until such time as Allianz ceases to own at least 50% of the initial shares of Class A Common Stock acquired at the Allianz Closing. The Non-Voting Common Stock will be issued to Allianz if the 24.9% ownership cap is triggered.

Also in connection with the Allianz Closing, the Company and AlTi Global Capital, LLC, a wholly-owned subsidiary of the Company, entered into the Fourth Amended and Restated Limited Liability Company Agreement of AlTi Global Capital, LLC (the “Umbrella LLC Agreement”) to create preferred and common units of AlTi Global Capital, LLC that mirror the rights, preferences, privileges and restrictions applicable to the Series A Preferred Stock, which were issued at the Allianz Closing and the Company’s Non-Voting Common Stock, which may be issued in the future to Allianz. The Umbrella LLC Agreement was also amended to reflect the creation of preferred units of AlTi Global Capital, LLC that mirror the rights, preferences, privileges and restrictions applicable to the Series C Preferred Stock previously issued to Constellation.

•Series C Cumulative Convertible Preferred Stock (the “Series C Preferred Stock”) – Shares of Series C Preferred Stock that are not publicly traded and issued in connection with the sale of 150,000 shares of Series C Preferred stock that occurred in two transactions (the “Transactions”) to Constellation AlTi Investor LLC, an affiliate of Constellation Wealth Capital, LLC (“Constellation”) (combined with the Transaction, the “Constellation Transaction”), the first of which closed on March 27, 2024, for the sale of 115,000 shares and the second of which closed on May 15, 2024, for the sale of 35,000 shares. The Series C Preferred Stock will receive cumulative, compounding dividends at a rate of 9.75% per year on the aggregate purchase price of $150 million, subject to annual adjustments based on the stock price of the Class A Common Stock during the fourth quarter of each applicable year (subject to a maximum rate of 9.75%) on the sum of (i) $1,000 per share plus, (ii) once compounded, any compounded dividends thereon ($1,000 per share plus accumulated compounded dividends and accrued but unpaid dividends through any date of determination). Dividends will be paid (at the option of the Company) as payment in kind increase in the stated value of the issued shares of Series C Preferred Stock or in cash. The Series C Preferred Stock will also participate with any dividends or distributions declared on the Class A Common Stock. As of December 31, 2024, the 150,000 outstanding shares of Series C Preferred Stock represent 7.5% of the total voting power of all shares.

In connection with the Constellation Transactions, the Company issued warrants (the “Constellation Warrants”) to purchase 2,000,000 shares of the Company’s Class A Common Stock at an exercise price of $7.40 per share. On March 27, 2024 and May 15, 2024, the Company completed the initial and additional issuances of Constellation Warrants to purchase 1,533,333 shares and 466,667 shares, respectively, of the Company’s Class A Common Stock. These warrants have been classified as a liability as of December 31, 2024. No Constellation Warrants were exercised during the current reporting period.

AlTi’s capital structure as of December 31, 2024 is reflected below:

The following table presents the number of shares of the Company that were issued and outstanding as of December 31, 2024 and December 31, 2023:


	As of December 31, 2024	As of December 31, 2023
Class A Common Stock	93,686,980	65,110,875
Class B Common Stock	46,138,876	53,219,713
Series A Preferred Stock	140,000	—
Series C Preferred Stock	150,000	—

Segments

Our business is organized into two operating segments: Wealth & Capital Solutions and International Real Estate. Described below are the segments and the revenue generated by each, which broadly fall into four categories: (i) recurring management, advisory, or administration fees; (ii) performance or incentive fees; (iii) distributions from investments and (iv) other income or fees. During the third quarter ended September 30, 2024, management commenced a strategic review of the Company’s Real Estate Co-Investment and Fund

Management Businesses (the “Real Estate Businesses”). In addition to evaluating future strategic options for these businesses, management has reviewed how these business should be reported, including whether any changes were needed to the components of our operating segments. One conclusion from the review to date is that the Real Estate Businesses are no longer considered a core part of our forward looking strategy. Consequently, during 2024 we combined the results of these business and presented them in a standalone operating segment, separately from our core businesses. Management, in conjunction with our Board, continues to evaluate options related to Real Estate Businesses going forward. Several options are currently under consideration, and we aim to complete the review and finalize a course of action pending regulatory approval. Due to the change in the composition of our segments, prior period data has been recast for comparative purposes.

Wealth & Capital Solutions

Overview

Results generated by our Wealth & Capital Solutions segment primarily consist of wealth and investment management and advisory services, trust services, family office services, and the management fees, incentive fees, and distributions from investments received from our interests in internal and external managers of alternative investment strategies (or “Alternatives Platform”). The wealth management client base includes ultra high-net-worth individuals, families, single-family offices, foundations, and endowments globally, while Alternatives Platform clients are typically institutional. Investment management or advisory fees, incentive fees, and distributions from investments are the primary sources of revenue in our Wealth & Capital Solutions segment. Management fees are generally calculated based on a percentage of the value of billable AUM or AUA (as applicable), while incentive fees are driven by the underlying performance of managed portfolios. As of December 31, 2024 and December 31, 2023, this segment had $67.3 billion and $58.7 billion, respectively, in AUA.

Investment Management and Advisory Services

We diversify our clients’ portfolios across risk factors, geographies, and asset classes, including private equity, private credit, hedge funds, real estate, infrastructure and other assets through highly experienced, and hard to access, third-party managers. Our team uses proprietary methodologies to monitor valuations in each major asset class across dozens of geographies and sectors, and to position portfolios where we believe they will have the best return. As of December 31, 2024, the average allocation of client portfolios to alternatives was approximately 27%. In building portfolios, we also consider the need to access funds for unexpected living or funding expenses, thereby seeking to avoid forced selling of assets at inopportune times, and for clients in certain jurisdictions, such as the U.S., we are focused on understanding tax considerations and optimizing for after tax returns. In addition, we offer robust impact investing services that can be delivered across a broad range of asset classes and with investors from all asset levels.

With regard to the unique opportunities that we offer access to, we have established a platform through which we are able to provide clients of our wealth management services access to investments in strategies and asset classes to which they would otherwise likely not be able to gain exposure (for example, because of very high minimum investment thresholds in the underlying funds). We operate a number of such vehicles focused on vintage private equity, credit, real estate, active global managers and hedge fund strategies. The vehicles, by way of example, invest in either a single underlying private equity fund or a portfolio of private equity or other alternative assets funds, in each case, which are managed by access constrained managers we believe, based upon our thorough manager selection processes, will deliver strong risk adjusted performance, in line with their strategy, for our clients. We intend to launch further vintages of such private market vehicles over time to enable our investment management and advisory clients to include an allocation to these alternative funds in their portfolios on a running basis. These private strategies are expected to include traditional as well as

innovative and impact investing offerings. In 2024, we welcomed Allianz and Constellation as strategic partners. See discussion in Item 1. Business -- Our History and Presence to Date regarding these partnerships.

The independence of our investment management and advisory services is important to us and our wealth management clients. By independent, we mean that our investment management and advisory services operate independently of any managers or investment product manufacturers (including our own) to which we may allocate or recommend allocating capital. Our clients may opt in to be informed of investment opportunities we are working on in our other business lines, (and some choose to do so). In all cases, each client’s individual objectives and expectations are our primary concern, and we employ an open architecture approach, whereby we seek to find the best investment solutions for our clients in the marketplace. More specifically,

•we do not receive undisclosed forms of compensation; and

•and our investment decisions and recommendations are made with each client’s individual best interests in mind.

We provide clients with performance reports, detailing the clients’ portfolio performance and comparing such performance to relevant benchmarks or indices. If requested by a client, the reporting can include information encompassing assets that are not in the portfolio managed by AlTi to give a total consolidated view. In addition to financial performance, we are also able to discuss a client’s impact performance for those interested in tracking impact specific metrics, in addition to their financial goals. We choose to use third-party software for record-keeping, performance calculation, and reporting, using Addepar’s SaaS platform, and we prepare performance reports by using data provided by custodians, investment managers, and independent pricing services. We then interpret and analyze how portfolio performance aligns with clients’ financial, non-financial and, where relevant, impact goals and values.

Trust Services

The trust services that we provide within our U.S. wealth service offering aim to ensure our clients’ wealth is preserved, protected, and distributed as intended. As of December 31, 2024 these services are primarily provided from Delaware, which is one of the most well-developed trust legal regimes in the United States. Our trust services include creating or modifying trust instruments and acting as fiduciary in a full, directed or executor capacity

Family Office Services

Our family office services are tailored outsourced family office solutions and administrative services which we provide primarily to our larger clients. Our family office services cover:

•bookkeeping and back office services;

•private foundation management and grant making;

•oversight of trust administration;

•financial tracking and reporting;

•cash flow management & bill pay; and

•other financial services.

We also offer clients estate and wealth planning, family governance and education, and philanthropic and strategic services.

For part of 2024, the Company also had a European trust and private office services business which was deemed non-strategic to the business and was sold on May 8, 2024. See Note 3 to our financial statements (Business Combinations and Divestitures).

Alternatives Platform

Our alternatives platform assists money managers in building their fund management businesses. We have one internally managed fund and stakes in three externally-managed funds. Our internally- managed fund, TIG Arbitrage strategy, is an event-driven fund which has $1.7 billion of AUM as of December 31, 2024. It is managed by our subsidiary TIG Advisors, LLC, an SEC-registered investment advisor. In addition, we have made strategic investments with External Strategic Managers, who manage approximately $5.1 billion of AUM in the aggregate as of December 31, 2024. The strategies of these External Strategic Managers include real estate bridge lending, European long short equities, and Asian credit and special situations. The External Strategic Managers each focus on capital preservation and uncorrelated returns by managing alpha driven investment strategies that align with the needs of a diverse global investor base. As a growth-oriented partner, we work with our fund managers on marketing, business development, and strategy.

Internally Managed Funds

Event-Driven Global Merger Arbitrage

The TIG Arbitrage strategy is our event-driven strategy based in New York. This strategy, which has approximately $1.7 billion of AUM as of December 31, 2024, focuses on 0-to-30-day events within the merger process. The investment team employs deep research on each situation in the portfolio with a focus on complex, hostile, up-for-sale situations where our primary research work can drive uncorrelated alpha. Our research and investment process is focused on hard catalyst events and is not dependent on deal flow.

Externally Managed Funds

Romspen—Real Estate Bridge Lending Strategy

This manager is based in Toronto and focuses on complex construction, term, and pre-development bridge loans throughout North America. The strategy has approximately $2.0 billion of AUA as of December 31, 2024. Their experience with mortgages dates back to the 1950s when the firm operated as a real estate law firm and entered the mortgage lending business in the 1960s. The manager converted its individual mortgage syndication business to a commingled fund in early 2006. The strategy’s diversified portfolio primarily consists of first lien mortgages with little to no structural leverage.

Zebedee—European Equities (External Strategic Manager)

This manager focused on European equities is based in London. The strategy has approximately $1.8 billion of AUA as of December 31, 2024. Founded in 2001, the manager trades the portfolio actively with absolute return-oriented focus on financials, cyclicals, and mining and minerals. The strategy is market agnostic and runs with a variable net exposure, equally comfortable net long or net short.

Arkkan—Asian Credit and Special Situations (External Strategic Manager)

This manager has operated an Asia credit and special situations strategy based in Hong Kong since 2013. The strategy has approximately $1.3 billion of AUA as of December 31, 2024. They have more than 25 years of experience investing in performing, stressed, and distressed bonds and loans throughout the Asia Pacific region. We believe its on-the-ground expertise and deep local network makes them well-positioned to capitalize on an under-researched and inefficient market with limited competition and attractive levels of stressed and distressed activity.

Ancillary Fund Management Services

We offer both our manager and the External Strategic Managers in which we have made strategic investments solutions to enhance their growth. This includes the sales and marketing services set out below.

•Sales and Marketing:

•centralized marketing;

•strategic positioning;

•product development;

•sales planning and execution;

•investor relations;

•materials oversight;

•branding; and

•sales channel expertise covering North America, Europe, Middle East, Asia Pacific and Latin America.

In 2024 our services also included back and middle office solutions for the funds. These services were spun out on November 15, 2025 under the name Altaira Strategic Partners which continues to provide services to the TIG Arbitrage strategy, in addition to other funds.

International Real Estate

Overview

Our International Real Estate segment includes our Real Estate Co-Investment and Real Estate Fund Management businesses. As of December 31, 2024, our AUM/AUA in this segment was $8.4 billion.

Consistent with management’s overall view of the core business, and following a strategic review conducted in the third quarter of 2024, it was determined that the businesses reflected in the International Real Estate segment are not additive to our long-term strategy. Several strategic options are currently under consideration, and our objective is to finalize a course of action in the near future.

Real Estate Co-Investment

Real estate co-investment oversees deal origination, documentation, and structuring from inception to exit for a variety of strategies, including development, income, value-add, and planning. Investors are typically HNWIs, single family offices, and institutional investors. Fees earned include private market, incentive fees, management and advisory fees, and placement and brokerage fees.

Real Estate Fund Management

Prior to the first quarter of 2024, our real estate fund management business managed two funds based in the United Kingdom: LXi, and HLIF, a private fund. As described further below, during 2024 we exited the management of LXi.

Home Long Income Fund

Home Long Income Fund is an English open-ended investment company launched in October 2018. Its investment objective is to deliver secure inflation-protected income and capital growth by investing in a portfolio of UK homeless shelters. HLIF is advised by SHIA and AFM UK acts as its alternative investment fund manager. Both SHIA and AFM UK are wholly owned subsidiaries of the Company. As of December 31, 2024, HLIF had assets under management of approximately $0.3 billion. We are in discussions with a third-party manager to take over the management of HLIF and AFM UK’s and SHIA’s services to HLIF will terminate if the transition completes.

LXi REIT plc

LXi is an English real estate investment trust company, launched in February 2017, whose shares are traded on the premium segment of the London Stock Exchange’s Main Market. LXi was advised by LRA, and its investment objective is to deliver inflation-protected income and capital growth over the medium-term for its

shareholders through investing in a diversified portfolio of UK property that benefits from long-term index-linked leases with institutional-grade tenants.

On January 9, 2024, AlTi RE Public Markets Limited entered into heads of terms to sell 100% of the equity of LRA, the advisor to the publicly-traded fund LXi, to LondonMetric Property Plc (“LondonMetric”). This disposal was completed on March 6, 2024. See Note 3 (Business Combinations and Divestitures) for further information.

Alvarium Home REIT Advisors Limited

Prior to the Business Combination, ARE, an indirect wholly owned subsidiary of Alvarium, entered into an agreement to sell 100% of the equity of AHRA, the investment advisor to the publicly-traded fund Home REIT, to a newly formed entity (“NewCo”) owned by the management of AHRA, for aggregate consideration approximately equal to $29 million. Consequently, AHRA has never been part of AlTi. The consideration was comprised of a promissory note that matured on December 31, 2023. Additionally, ARE was granted a call option pursuant to which ARE had the right to repurchase AHRA prior to the repayment of the note for a purchase price equal to the note balance then outstanding thereunder.

Subsidiaries are companies over which a company has the power indirectly and/or directly to control the financial and operating policies to obtain benefits. In assessing control for accounting purposes, potential voting rights that are presently exercisable or convertible (including rights that may arise on the exercise of an option) are taken into account. With respect to the AHRA, the above arrangements resulted in AHRA continuing to be consolidated by AlTi after its legal disposal to NewCo. Due to this consolidation, after the Business Combination, an intangible asset was recognized related to the investment advisory agreement between AHRA and Home REIT.

AlTi was formed on January 3, 2023, through a business combination transaction that included certain legacy Alvarium companies. 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. On June 30, 2023, the Company entered into a series of agreements that resulted in the deconsolidation of AHRA from the International Real Estate segment with immediate effect. The agreements removed ARE’s potential controlling voting rights in AHRA (previously ascertainable on the exercise of the option) and terminated other residual contractual relationships between AHRA and ARE. As a result, these agreements removed AlTi’s control of AHRA from an accounting perspective. AHRA’s results are included in the Company’s Consolidated Statement of Operations for the period from January 1, 2023 to June 30, 2023, and it was removed from the Consolidated Statement of Financial Position as of June 30, 2023. The deconsolidation resulted in an intangible asset impairment charge of $29.4 million, which was recorded in Impairment loss on goodwill and intangible assets in the Consolidated Statement of Operations during the year ended December 31, 2023. Assets managed by AHRA, however, have been excluded from the Company’s AUM/AUA metrics since January 1, 2023.

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables present the financial information for the Company’s segments for the periods indicated.


	For the Year Ended
(Dollars in Thousands)	December 31, 2024								December 31, 2023
Net Income by Segment	Wealth & Capital Solutions		International Real Estate		Corporate		Total		Wealth & Capital Solutions		International Real Estate		Corporate		Total
Revenue:
Management/advisory fees	$	182,599	$	7,856	$	—	$	190,455	$	160,785	$	20,076	$	—	$	180,861
Incentive fees	3,256		—		—		3,256		42,674		703		—		43,377
Distributions from investments	12,304		—		—		12,304		17,185		—		—		17,185
Other income/fees	97		688		135		920		501		4,993		—		5,494
Total revenue	198,256		8,544		135		206,935		221,145		25,772		—		246,917


	For the Year Ended
(Dollars in Thousands)	December 31, 2022
Net Income by Segment	Tiedemann Wealth Management Holdings, LLC
Revenue:
Management/advisory fees	$	76,872



Total income	76,872


(Dollars in Thousands)
Assets by Segment	As of December 31, 2024		As of December 31, 2023
Wealth & Capital Solutions	1,160,272		1,134,264
International Real Estate	$	23,738	$	125,229
Corporate	71,823		6,804
Total Assets	$	1,255,833	$	1,266,297

Revenue from External Customers by Geographic Areas


(Dollars in Thousands)	For the Year Ended
Revenues by Geography	December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
United States	$	134,893	$	153,899	$	72,181
United Kingdom	$	33,163	$	54,949	$	3,863
Rest of World	$	38,879	$	38,069	$	828
Total Revenues	$	206,935	$	246,917	$	76,872

Long-Lived Assets by Geographic Areas


(Dollars in Thousands)
Long-lived Assets by Geography	As of December 31, 2024		As of December 31, 2023
United States	$	44,275	$	41,603
United Kingdom	$	4,721	$	5,434
Rest of World	$	3,893	$	3,807
Total Assets	$	52,889	$	50,844

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Net income (loss)	$ (174,305)	$ (311,215)		$ (5,998)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	14,552	17,039		2,339
Amortization of debt discounts and deferred financing costs	6,184	927		0
Unrealized (gain) loss on investments	16,483	15,618		97
Realized (gain) loss on investments	(11,128)	0		0
Impairment loss on goodwill and intangible assets	116,769	206,777		0
Fair value (gain) loss on TRA	(3,855)	233		0
Gain (loss) on earn-in	0	0		221
(Income) loss on equity method investments	1,898	3,019		(33)
Restricted unit compensation	0	0		2,365
Fair value (gain) loss on warrant liability	0	12,866		0
Fair value (gain) loss on earnout liability	(30,727)	(31,104)		0
Fair value gain (loss) on preferred stock tranche liability	(600)	0		0
Deferred income tax (benefit) expense	(24,055)	(12,387)		(101)
Equity-settled share-based payments	17,454	36,749		0
Unrealized foreign currency (gains)/losses	14	587		0
(Gain) loss from retirement of debt	0	(73)		0
Fair value of interest rate swap	0	33		(276)
Cash flows due to changes in operating assets and liabilities
(Increase) decrease in fees receivable	38,229	(31,321)		1,336
(Increase) decrease in other assets	(20,579)	(5,860)		(2,993)
Operating cash flow from operating leases	5,736	7,147		618
Increase (decrease) in accounts payable and accrued expenses	(1,214)	(17,897)		2,279
Increase (decrease) in accrued compensation and profit sharing	(15,761)	36,345		2,460
Increase (decrease) in other liabilities	14,057	(9,202)		3,662
Other operating activities	(16)	(248)		0
Net cash provided by (used in) operating activities	(50,652)	(81,706)		6,858
Cash Flows from Investing Activities
Cash acquired from consolidation of variable interest entity	0		$ 0	471
Cash payment for acquisition of TWMH and TIG historical equity	0		(99,999)	0
Receipt of payments of notes receivable from members	286		226	428
Loans to members	0		0	(301)
Cash receipts from the repayment of advances and loans	0		601	0
Purchases of investments	(20,380)		(15,687)	(224)
Distributions from investments	0		0	4
Purchase of TIH shares	0		0	(382)
Purchase of Holbein	0		0	(8,097)
Cash payment for delayed share purchase agreement	(1,818)		0	0
Payment of payout right	0		(760)	0
Acquisition of AWMS, net of cash acquired	0		(4,383)	0
Acquisition of ALWP, net of cash acquired	0		(14,430)	0
Acquisition of EEA, net of cash acquired	(69,182)		0	0
Acquisition of PW, net of cash acquired	(1,467)		0	0
Acquisition of Envoi	(25,258)		0	0
Sales of investments	818		2,107	1,028
Sale of fixed assets	144		8	0
Purchases of fixed assets	(7,713)		(630)	(156)
Net cash provided by (used in) investing activities	(75,685)		(132,947)	(7,229)
Cash Flows from Financing Activities
Proceeds from issuance of preferred stock and Allianz & Constellation Warrants	300,800		0	0
Proceeds from issuance of common stock	94,660		0	0
Proceeds from issuance of preferred stock tranche right liability	4,540		0	0
Member contribution (distribution)	(6,760)		(8,492)	(9,835)
Payments on term notes and lines of credit	(221,062)		(160,453)	(2,810)
Borrowings on term notes and lines of credit	32,258		223,500	12,300
Payment of acquisition-related contingent consideration	(8,449)		0	0
Payments of debt issuance costs	(1,519)		(2,586)	0
Taxes paid on net settled share-based compensation awards	(4,037)		0	0
Tax payments on behalf of Umbrella partners	(424)		0	0
Increase (decrease) in distributions due to former TIG members	0		(14,199)	0
Cash payment for purchase of shares to be transferred as part of Alvarium share compensation	0		(4,215)	0
Cash receipts from exercise of Warrants	0		5,836	0
Payment of preferred stock tranche right liability issuance costs	(203)		0	0
Cash payment of earn-in liability	(754)		0	0
Dividends paid to former owners of AWMS and ALWP	(11)		(3,372)	0
Net cash provided by (used in) financing activities	174,259		36,019	(345)
Effect of exchange rate changes on cash	(673)		2,793	(193)
Net increase (decrease) in cash	47,249		(175,841)	(909)
Cash and cash equivalents at beginning of the period	18,245	7,131	194,086	8,040
Cash and cash equivalents at end of the period	65,494	18,245	18,245	7,131
Reconciliation of balance sheet cash and cash equivalents to cash flows:
Cash and cash equivalents on balance sheet	65,494	15,348	15,348	7,131
Cash and cash equivalents included in Assets held for sale (Note 3)	0	2,897	2,897	0
Cash and cash equivalents, including cash in Assets held for sale	65,494	18,245	18,245	7,131
Supplemental Disclosure of Cash Flow Information
Income taxes	1,474		848	606
Interest payments on term notes and lines of credit	16,712		14,079	622
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Non-cash delayed share purchase agreement	0		0	1,818
Non-cash repayment of notes receivable in lieu of cash member distribution	0		0	202
Family Office Service ("FOS")
Cash Flows from Investing Activities
Proceeds from sale	16,683		0	0
LXi Reit Advisors Limited (“LRA”)
Cash Flows from Investing Activities
Proceeds from sale	32,202		0	0
Preferred Stock
Cash Flows from Financing Activities
Payment of issuance costs	(10,544)		0	0
Common Stock
Cash Flows from Financing Activities
Payment of issuance costs	(4,236)		$ 0	0
Shareholder Loan
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Forgiveness of debt	0	0		619
Member Notes Receivable
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Forgiveness of debt	$ 212	$ 261		$ 263

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (103,034)	$ (165,584)	$ (5,885)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Retirement Plans

12 Months Ended

Dec. 31, 2024

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 Year Ended
		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Plan Contributions		$	3,357	$	3,454	$	738

As of December 31, 2024, $1.9 million in contributions was payable, which is included in Accounts payable and accrued expenses on the Consolidated Statement of Financial Position.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: 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 2: 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 3: 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 4: 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 5: 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 6: 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 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/715/tableOfContent

Reference 8: 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 9: 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 10: 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 11: 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 12: 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

Reference 13: 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 14: 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

+ Details

Leases - Weighted-average Remaining Lease Term And Discount Rate (Details)	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted-average remaining lease term (in years)	11 years 5 months 15 days	11 years 11 months 8 days
Weighted-average discount rate (in percent)	5.99%	6.22%

Investments (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

The Cost and Fair Value of Investments as of December 31, 2024 and December 31, 2023 are presented below:


	As of December 31, 2024				As of December 31, 2023
(Dollars in Thousands)	Cost		Fair Value		Cost		Fair Value
Investments at Fair Value:
Mutual funds	$	122	$	105	$	93	$	75
Exchange-traded funds	101		112		105		108
TIG Arbitrage Associates Master Fund	482		515		482		500
TIG Arbitrage Enhanced Master Fund	179		229		179		231
TIG Arbitrage Enhanced	—		—		682		776

Arkkan Opportunities Feeder Fund	111		139		111		119

Arkkan Capital Management Limited	20,062		21,181		20,062		24,822
Zebedee Asset Management	68,913		80,127		68,913		69,454
Romspen Investment Corporation (1)	72,523		46,260		72,523		69,802

Other	6		6		7		7

Total Investments at fair value	$	162,499	$	148,674	$	163,157	$	165,894

Equity method investments:
Real estate equity method investments	$	5,863	$	5,863	$	9,311	$	9,311
Wealth management - investment advisory	$	20,404	$	20,404	$	2,505	$	2,505
Carried interest vehicles	$	1,250	$	1,250	$	2,378	$	2,378
Total Equity method investments	27,517		27,517		14,194		14,194

Total	$	190,016	$	176,191	$	177,351	$	180,088

The breakdown of unrealized gains (losses) and realized gains (losses) on Investments at fair value for the relevant periods are as follows:


	For the Year Ended
(Dollars in Thousands)		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Gains (Losses) on Investments at fair value:
Realized gains (losses)		$	(15)	$	1	$	(68)
Unrealized gains (losses)		(16,491)		2,749		247
Total gains (losses) on Investments at fair value		$	(16,506)	$	2,750	$	179

Retirement Plans - Costs of Retirement Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Postemployment Benefits [Abstract]
Plan Contributions	$ 3,357	$ 3,454	$ 738

Related Party Transactions - Earn-out Liability (Details) - USD ($) $ in Thousands					12 Months Ended
	Jul. 01, 2024	Apr. 03, 2024	Aug. 02, 2023	Jan. 03, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Aug. 01, 2023
Related Party Transaction [Line Items]
Fair value of the business combination earn-out liability					$ 77,957	$ 76,677	$ 106,280
Net (gains) losses					$ (34,465)	(30,494)
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]					Gain (loss) on earnout liabilities
Earn-out liabilities, at fair value					$ 64,639	63,444
Gain (loss) on earnout liabilities					(30,727)	(31,104)	0
Alvarium, TWMH And TIG
Related Party Transaction [Line Items]
Total purchase consideration transferred				$ 1,071,116
Earn-out liabilities, at fair value					23,800	62,400
Alvarium, TWMH And TIG \| Earn-out liability
Related Party Transaction [Line Items]
Fair value of the business combination earn-out liability					23,848	62,380	$ 91,761
Net (gains) losses					(38,532)	(29,381)
AlTi Wealth Management (Switzerland) SA (“AWMS”)
Related Party Transaction [Line Items]
Voting interest acquired (in percent)			70.00%
Equity interest (in percent)							30.00%	30.00%
Equity interest, including subsequent acquisition (in percent)			100.00%
Total purchase consideration transferred			$ 16,754
Earn-out liabilities, at fair value					0	1,100
AlTi Wealth Management (Switzerland) SA (“AWMS”) \| Earn-out liability
Related Party Transaction [Line Items]
Fair value of the business combination earn-out liability					0	1,064	$ 0
Net (gains) losses					39	(1,657)
Gain (loss) on earnout liabilities					(400)	(1,700)
East End Advisors, LLC ("EEA")
Related Party Transaction [Line Items]
Total purchase consideration transferred		$ 93,114
Earn-out liabilities, at fair value		$ 23,300			29,900
East End Advisors, LLC ("EEA") \| Earn-out liability
Related Party Transaction [Line Items]
Fair value of the business combination earn-out liability					29,871	0
Net (gains) losses					6,563
Envoi, LLC (“Envoi”)
Related Party Transaction [Line Items]
Total purchase consideration transferred	$ 34,258
Earn-out liabilities, at fair value	$ 9,000
Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability
Related Party Transaction [Line Items]
Earn-out liabilities, at fair value					9,600
Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Related Party Transaction [Line Items]
Earn-out liabilities, at fair value					1,300
Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability
Related Party Transaction [Line Items]
Fair value of the business combination earn-out liability					9,600	0
Net (gains) losses					1,620
Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Related Party Transaction [Line Items]
Fair value of the business combination earn-out liability					1,320	$ 0
Net (gains) losses					$ 300

Equity-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands											12 Months Ended			19 Months Ended
	Dec. 23, 2024 $ / shares shares	Aug. 02, 2024 $ / shares shares	Jun. 27, 2024 $ / shares shares	Jun. 05, 2024 $ / shares shares	Mar. 01, 2024 $ / shares shares	Feb. 06, 2024 $ / shares shares	Aug. 01, 2023 $ / shares shares	Jul. 14, 2023 USD ($) d	May 31, 2023 $ / shares shares	Mar. 23, 2023 $ / shares shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2024 USD ($) $ / shares shares	Jan. 07, 2022 d
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized equity-based compensation expense											$ 18,400			$ 18,400
Unrecognized equity-based compensation expense, weighted average recognition period (in years)											1 year 8 months 26 days
Share-based payment arrangement, expense											$ 26,287	$ 46,174	$ 3,716
Earn-in consideration payable											$ 932	1,830		932
Holbein Partners, LLP (“Holbein”)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Earn-in expense, cash (in percent)											50.00%
Earn-in expense, equity (in percent)											50.00%
Earn-in share-purchase payment period \| d															10
Earn-in payment, first date								$ 7,100
Earn-in payment, second date								$ 8,900
Earn-in, share-purchase price, volume weighted average price, number of days \| d								20
Earn-in consideration payable											$ 900	1,800		$ 900
Class A Common Stock \| TIH SPA
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense												1,200
Shares issued in period (in shares) \| shares							152,930
Fair value of shares issued (in dollars per share) \| $ / shares							$ 7.70
RSUs
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											$ 10,554	$ 36,779	$ 0
Number of shares vested in period (in shares) \| shares											1,823,811	2,534,202
Shares outstanding (in shares) \| shares											6,216,513	4,797,464	0	6,216,513
Shares issued in period (in shares) \| shares				2,219,661					4,697,317		4,181,243	7,514,293
Fair value of shares issued (in dollars per share) \| $ / shares				$ 4.78					$ 4.35		$ 4.86	$ 4.64	$ 0	$ 4.86
Vesting period				3 years					3 years
Shares forfeited in period (in shares) \| shares											938,383	182,627
RSUs \| Share-Based Payment Arrangement, Employee
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											$ 8,600	$ 5,400
Shares forfeited in period (in shares) \| shares														857,939
RSUs \| Board of directors
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											$ 1,200	800
Shares issued in period (in shares) \| shares		45,549	123,732		138,564					65,554
Fair value of shares issued (in dollars per share) \| $ / shares		$ 4.38	$ 4.91		$ 5.87					$ 12.56
Vesting period		11 months	12 months		4 months					9 months
RSUs \| Class A Common Stock
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Authorized (in shares) \| shares											11,788,132			11,788,132
Available for grant (in shares) \| shares											1,213,605			1,213,605
TWMH' Restricted Stock Units (RSUs)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense												4,200
Shares outstanding (in shares) \| shares											0			0
Alvarium employee awards
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense												24,600
Share-based payment arrangement, accelerated cost												$ 21,000
Share-based compensation arrangement, accelerated vesting (in shares) \| shares												2,100,000
Alvarium employee awards, benefiting acquirer
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense												$ 3,600
Number of shares vested in period (in shares) \| shares												360,485
Nasdaq awards \| Class A Common Stock
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares issued in period (in shares) \| shares												60,800
Fair value of shares issued (in dollars per share) \| $ / shares												$ 10.00
Buy-out equity awards as restricted stock units (RSUs)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											$ 800	$ 1,000
Shares issued in period (in shares) \| shares	57,458					29,154
Fair value of shares issued (in dollars per share) \| $ / shares	$ 4.14					$ 5.36
Vesting period	3 years					2 years
Buy-out equity awards as restricted stock units (RSUs) \| Minimum
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period												1 year
Buy-out equity awards as restricted stock units (RSUs) \| Maximum
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period												3 years
Buy-out equity awards as restricted stock units (RSUs) \| Class A Common Stock
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense												$ 600
Buy-out equity awards as restricted stock units (RSUs), first grant date
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares issued in period (in shares) \| shares												111,148
Fair value of shares issued (in dollars per share) \| $ / shares												$ 7.66
Buy-out equity awards as restricted stock units (RSUs), second grant date
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares issued in period (in shares) \| shares												118,987
Fair value of shares issued (in dollars per share) \| $ / shares												$ 8.72
PRSUs
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											$ 3,241	$ 0	$ 0
Shares issued in period (in shares) \| shares				1,567,125
Fair value of shares issued (in dollars per share) \| $ / shares				$ 5.76
Vesting period											3 years
Ending average stock price (in dollars per share) \| $ / shares				$ 4.78
Volatility rate (in percent)				62.10%
Risk free rate (in percent)				4.50%
Expected term (in years)				2 years 10 months 17 days
Earn-in awards \| Holbein Partners, LLP (“Holbein”)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											$ 4,100	7,000	3,700
TIH SPA
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											0	1,178	0
Revenue share
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											1,077	1,249	0
Deferred compensation
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											4,523	$ 0	$ 0
Equity Awards \| Envoi, LLC (“Envoi”)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											100
Equity Awards \| East End Advisors, LLC ("EEA")
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											1,600
Equity Awards \| Pointwise Partners Limited ("PW")
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense											$ 1,000

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2024	Mar. 14, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction	true
Document Financial Statement Restatement Recovery Analysis	false
Entity Shell Company	false
Entity Public Float			$ 453.7
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Definitive Proxy Statement relating to the Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended December 31, 2024.
Entity Central Index Key	0001838615
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Year Focus	FY
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		96,100,040
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		46,138,876

Business Combinations and Divestitures - Assets and Liabilities Held-For-Sale (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 0	$ 2,897,000	$ 0
Total assets held for sale	0	56,634,000
Liabilities
Total liabilities held for sale	0	(13,792,000)
Held for Sale
Assets
Cash and cash equivalents		2,897,000
Fees receivable, net		4,792,000
Intangible assets, net of accumulated amortization		46,658,000
Operating lease right-of-use assets		434,000
Deferred tax asset, net		41,000
Other assets		1,812,000
Total assets held for sale	0	56,634,000
Liabilities
Accounts payable and accrued expenses		(1,007,000)
Operating lease liabilities		(381,000)
Deferred tax liability, net		(10,852,000)
Deferred income		(781,000)
Other liabilities		(772,000)
Total liabilities held for sale	$ 0	$ (13,792,000)

Related Party Transactions - Tax Receivable Agreements (Details) $ / shares in Units, $ in Thousands					12 Months Ended
	Aug. 19, 2024 $ / shares shares	May 14, 2024 $ / shares shares	Mar. 11, 2024 $ / shares shares	Aug. 31, 2023 $ / shares shares	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 03, 2023
Related Party Transaction [Line Items]
TRA liability					$ 28,765	$ 17,607
TRA liability, fair value					9,378	13,233
Tax receivable agreement liability, carrying value					19,400	4,400
Gain (loss) on TRA					$ 3,855	$ (233)	$ 0
Conversion ratio					1
Class A Common Stock
Related Party Transaction [Line Items]
Converted shares (in shares) \| shares	1,840,077	286,242	4,954,518	1,813,248
Conversion ratio	1	1	1	1				1
Share price (in dollars per share) \| $ / shares	$ 4.06	$ 4.69	$ 6.61	$ 7.31
Class B Common Stock
Related Party Transaction [Line Items]
TRA, tax payments and cash distributions					$ 2,800
Due from Certain TWMH Members, TIG GP Members and TIG MGMT Members
Related Party Transaction [Line Items]
TRA, payment, percentage of tax benefit received					85.00%
Tax receivable agreement, administering costs and expenses, percentage of obligation of company					15.00%
TRA, administering costs and expenses, percentage of obligation by affiliated entity					85.00%

Revenue

12 Months Ended

Dec. 31, 2024

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 Year Ended
(Dollars in Thousands)		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)

Management/advisory fees		$	190,455	$	180,861	$	76,872
Incentive fees		3,256		43,377		—
Distributions from investments		12,304		17,185		—
Other fees/income		920		5,494		—
Total Income		$	206,935	$	246,917	$	76,872


(Dollars in Thousands)	As of December 31, 2024		As of December 31, 2023

Management/advisory fees receivable
Beginning balance	$	29,539	$	30,698
Ending balance (1)	32,194		29,539

Incentive fees receivable
Beginning balance	$	40,356	$	7,570
Ending balance (2)	1,324		40,356

Other fees/income receivable
Beginning balance	$	526	$	4,112
Ending balance	98		526

Deferred management/advisory fees
Beginning balance	$	(66)	$	(945)
Ending balance	(1)		(66)





Deferred other fees/income
Beginning balance	$	—	$	(422)
Ending balance	—		—

- 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 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: 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 3: 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 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Income Taxes - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal tax expense (benefit) at statutory rate	21.00%	21.00%	21.00%
State tax, net of federal benefit	4.70%	0.40%	(0.70%)
Goodwill Impairment	(7.60%)	(10.20%)	0.00%
Exempt income	0.00%	2.10%	(2.30%)
Non-deductible Professional Fees	(0.30%)	(1.10%)	0.00%
Change in fair value of warrant liability	0.00%	(0.90%)	0.00%
Change in fair value of contingent consideration	3.20%	1.70%	0.00%
Other Permanent differences	(0.80%)	0.00%	(0.10%)
Prior period adjustments	0.00%	0.10%	0.00%
Change in Valuation Allowance	(5.20%)	(9.10%)	(25.50%)
Foreign rate differential	0.30%	(0.10%)	(2.10%)
Stock based compensation	(0.40%)	0.00%	0.00%
Capital payments	(0.80%)	0.00%	0.00%
Rate Change	0.50%	(0.10%)	0.00%
Net impact of non-controlling interest	(3.80%)	(0.40%)	0.00%
Total Effective Rate	10.80%	3.30%	(9.60%)
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
U.S. federal tax expense (benefit) at statutory rate	$ (41,042)	$ (66,416)	$ (1,149)
State tax, net of federal benefit	(9,065)	(1,119)	38
Goodwill Impairment	14,640	32,254	0
Exempt income	0	(6,524)	127
Non-deductible Professional Fees	653	3,616	0
Change in fair value of warrant liability	0	2,702	0
Change in fair value of contingent consideration	(6,129)	(5,500)	0
Other Permanent differences	1,631	8	3
Prior period adjustments	49	(246)	(2)
Change in Valuation Allowance	10,074	28,700	1,393
Foreign rate differential	(647)	236	116
Stock based compensation	806	145	0
Capital payments	1,465	0	0
Rate Change	(931)	247	0
Net impact of non-controlling interest	7,363	1,363	0
Total income tax expense (benefit)	$ (21,133)	$ (10,534)	$ 527

Description of the Business - Business Combination and Capital Structure (Details) $ / shares in Units, $ in Thousands						3 Months Ended		6 Months Ended	12 Months Ended
	Jul. 31, 2024 USD ($) director $ / shares shares	May 15, 2024 shares	Mar. 27, 2024 shares	Feb. 22, 2024 USD ($) $ / shares shares	Apr. 03, 2023 shares	Sep. 30, 2024 segment	Mar. 31, 2023 shares	Jun. 30, 2023 USD ($)	Dec. 31, 2024 USD ($) segment $ / shares shares	Dec. 31, 2023 $ / shares shares	Jun. 07, 2023 shares	Jan. 03, 2023	Jan. 02, 2023 $ / shares
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of operating segments \| segment						2			2
Assets under management \| $									$ 75,700,000
Warrant, exercise price (in dollars per share) \| $ / shares													$ 11.50
Number of securities called by warrants or rights (in shares)											19,892,387
Adjustments to additional paid-in-capital \| $								$ 29,500	$ 9,594
Warrants, outstanding (in shares)									0
Constellation warrant
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Warrant, exercise price (in dollars per share) \| $ / shares									$ 7.40
Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Investment Agreement
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Consideration received \| $	$ 250,000
Class A Common Stock
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Total voting power (in percent)									62.00%
Issuance of shares - exercise of warrants (in shares)					78,864		428,626
Number of securities called by warrants or rights (in shares)											4,962,147
Common stock, par value (in dollars per share) \| $ / shares									$ 0.0001	$ 0.0001
Class A Common Stock \| Constellation warrant
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Issuance of shares - exercise of warrants (in shares)									0
Number of securities called by warrants or rights (in shares)		466,667	1,533,333						2,000,000
Class A Common Stock \| Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Investment Agreement
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	19,318,580.96
Dividends payable (in percent)	50.00%
Ownership cap (in percent)	24.90%
Number of directors available for nomination \| director	2
Threshold of ownership (in percent)	50.00%
Class A Common Stock \| Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Investment Agreement \| Allianz warrant
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Warrant, exercise price (in dollars per share) \| $ / shares	$ 7.40
Number of securities called by warrants or rights (in shares)	5,000,000
Class B Common Stock
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Total voting power (in percent)									30.50%
Common stock, par value (in dollars per share) \| $ / shares									$ 0.0001	$ 0.0001
Class B Common Stock \| Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Investment Agreement
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Ownership cap (in percent)	24.90%
Series A Preferred Stock
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Preferred stock, outstanding (in shares)									140,000	0
Series A Preferred Stock \| Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Investment Agreement
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	140,000
Preferred stock, dividend rate (in percent)	9.75%
Preferred stock, dividend rate, per-dollar amount (in dollars per share) \| $ / shares	$ 1,000
Dividends payable (in percent)	50.00%
Series A Preferred Stock \| Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Investment Agreement \| Maximum
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Preferred stock, dividend rate (in percent)	9.75%
Series A Preferred Stock \| Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Investment Agreement \| Allianz Tranche Right
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of securities called by warrants or rights (in shares)				50,000
Preferred stock, dividend rate, per-dollar amount (in dollars per share) \| $ / shares				$ 1,000
Value of securities called by warrant or right \| $				$ 50,000
Class C Common Stock
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Common stock, par value (in dollars per share) \| $ / shares									$ 0.0001	$ 0.0001
Class C Common Stock \| Allianz Strategic Investments S.à.r.l. (“Allianz”) \| Allianz Investment Agreement
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.0001
Series C Preferred Stock
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Preferred stock, dividend rate (in percent)									9.75%
Preferred stock, dividend rate, per-dollar amount (in dollars per share) \| $ / shares									$ 1,000
Dividend aggregate purchase price \| $									$ 150,000
Preferred stock, outstanding (in shares)									150,000	0
Preferred stock, total voting power (in percent)									7.50%
Series C Preferred Stock \| Maximum
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Preferred stock, dividend rate (in percent)									9.75%
Series C Preferred Stock \| CWC AlTi Investor LLC (“Constellation”) \| Constellation Investment Agreement
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		35,000	115,000						150,000
Umbrella
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Voting interest acquired (in percent)												51.00%
Umbrella \| TWMH and TIG Shareholders
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Voting interest acquired (in percent)												49.00%
TWMH, TIG, and Alvarium \| Umbrella
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Voting interest acquired (in percent)												100.00%

Summary of Significant Accounting Policies - Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Restricted cash and cash equivalents	$ 9.9	$ 5.4

Goodwill, net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Line Items]
Impairment of intangible assets, indefinite-lived (excluding goodwill)		$ 44,900	$ 0
Impairment charges	$ 153,600	69,724	153,859
Wealth & Capital Solutions
Goodwill [Line Items]
Impairment charges		29,367
International Real Estate
Goodwill [Line Items]
Impairment charges		$ 40,357	$ 153,859

- 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/exampleRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Philadelphia, PA
Auditor Firm ID	185

Fair Value Disclosures - Narrative (Details)	Jul. 31, 2024 $ / 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
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+ Details

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating cash flow information:
Operating cash flow from operating leases	$ 8,027	$ 7,131	$ 2,930
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$ 6,239	$ 35,629	$ 2,621

Related Party Transactions

12 Months Ended

Dec. 31, 2024

Related Party Transactions

Related party transactions include the below:


(Dollars in Thousands)
Related Party Receivables	Consolidated Balance Sheet Line Item	As of December 31, 2024		As of December 31, 2023
Due from Certain TWMH Members, TIG GP Members and TIG MGMT Members	Other assets	$	435	$	712
Due from Equity Method Investees	Other assets	$	3,089	$	5,948
Due from Alvarium related fee arrangements	Fees receivable, net	$	116	$	247
Due from TIG related fee arrangements	Fees receivable, net	$	804	$	15,822

Related Party Investments
Equity method investment with Allianz	Equity method investments	$	20,300	$	—

Related Party Payables
Due to Certain TWMH Members, TIG GP Members and TIG MGMT Members	Other Liabilities	$	—	$	—
Due to Certain Non-Controlling Interest Holders in Connection with the Tax Receivable Agreements	TRA liability	$	(28,765)	$	(17,607)
Delayed share purchase agreement	Delayed share purchase agreement	$	—	$	(1,818)
Delayed share purchase agreement	Accrued compensation and profit sharing	$	—	$	(282)
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	$	(23,848)	$	(62,380)
AWMS earn-out liability	Earn-out liabilities, at fair value	$	—	$	(1,064)
AWMS deferred cash contribution	Other liabilities	$	—	$	(7,135)
Due to Equity Method Investees	Other liabilities	$	(223)	$	(1,277)
EEA earn-out liability	Earn-out liabilities, at fair value	$	(29,871)	$	—
PW deferred consideration	Other liabilities	$	(3,339)	$	—
Envoi earn-out consideration liability	Earn-out liabilities, at fair value	$	(9,600)	$	—
Envoi earn-out growth consideration liability	Earn-out liabilities, at fair value	$	(1,320)	$	—
Preferred stock tranche liability	Preferred stock tranche liability	$	(3,940)	$	—

Mezzanine Equity
Series A Preferred Stock	Series A Redeemable Cumulative Convertible Preferred Stock	$	142,858	$	—
Series C Preferred Stock	Series C Redeemable Cumulative Convertible Preferred Stock	$	160,808	$	—

Shareholders’ Equity
Delayed share purchase agreement	Additional paid-in capital	$	40	$	(1,178)
Allianz Warrants, net of issuance costs	Additional paid-in capital	$	6,591	$	—
Constellation Warrants, net of issuance costs	Additional paid-in capital	$	3,003	$	—

Due from TWMH Members

Certain TWMH Members were offered promissory notes to pay their estimated federal, state and local withholding taxes owed by such members, which constitute loans to members. Promissory notes totaling $1.5 million were issued by the Company in 2020, 2021 and 2022, and bear interest at an annual rate of three and one quarter percent (3.25%). Of these, certain promissory notes totaling $1.1 million included a forgiveness of debt provision. If at each of the first five one-year anniversaries of February 15, 2023, the members’ employment relationship has not been terminated for any reason, an amount equal to twenty percent (20%) of the principal and accrued interest, shall be forgiven. Upon termination of employment, any outstanding amount of loan not forgiven becomes due within 30 days. The additional notes totaling $0.4 million were paid back in full to the Company as of December 31, 2022. On March 14, 2024, a certain member repaid their note totaling $0.7 million.

For the years ended December 31, 2024, 2023 and 2022, the Company recognized $230 thousand, $261 thousand and $280 thousand, respectively, of forgiveness of principal debt and accrued interest within Compensation and employee benefits expense on the Consolidated Statement of Operations.

The promissory notes are full legal recourse and have applicable default provisions, which allow the Company to enforce collection against all assets of the note holder, including Class B Units which have been pledged as collateral. These loans are presented in Other assets on the Consolidated Statement of Financial Condition. As of December 31, 2024 and December 31, 2023, the balances of loans to members was $0.4 million and $0.7 million, respectively.

Delayed Share Purchase Agreement

On July 28, 2023, the Company amended the delayed share purchase agreement for the shares of Tiedemann International Holdings, AG, which are owned by an executive and shareholder of the Company. The amendment adjusted the purchase price from $2.2 million in cash to $2.1 million in cash and $1.2 million in the Company’s Class A Common Stock. The cash purchase price has been recognized in the Consolidated Statement of Financial Condition as Delayed share purchase agreement and Accrued compensation and profit sharing. On March 25, 2024, the TIH SPA was fully paid. As of December 31, 2023, the delayed share purchase agreement liability was reported as $1.8 million and the portion of the Delayed share purchase agreement reported in Accrued compensation and profit sharing was $0.3 million. The stock purchase price was recognized in the Consolidated Statement of Financial Condition as Additional paid-in capital. As of December 31, 2023, the portion of the delayed share purchase agreement reported in Additional paid-in capital was $1.2 million.

For the years ended December 31, 2024 and 2023, the Company recognized $40.0 thousand and $1.1 million, respectively, of stock and cash compensation associated with the delayed share purchase agreement within Compensation and employee benefits expense on the Consolidated Statement of Operations.

Equity Method Investees

The Company’s transactions with Equity Method Investees include receivables related to loans, fees, and expenses, which are presented in Other assets on the Consolidated Statement of Financial Condition, and payables related to loans, fees and expenses, which are presented in Accounts payable and accrued expenses and Other Liabilities on the Consolidated Statement of Financial Condition.

The Company recognized Management/advisory fees, Compensation and employee benefits, Other income/fees and Interest income from its equity method investees on the Consolidated Statement of Operations, as summarized in the following table:


(Dollars in Thousands)	For the Year Ended
		December 31, 2024		December 31, 2023
Management/advisory fees		$	(357)	$	700

Compensation and employee benefits		$	—	$	(1,800)
Other income/fees		$	2,219	$	(2,400)
Interest income		$	(31)	$	200

Tax Receivable Agreements

On the Closing Date, the Company entered into the Tax Receivable Agreement. The TRA generally provides for certain payments and makes certain arrangements with respect to certain tax benefits to be derived by the Company and its subsidiaries as the result of the Business Combination and future exchanges by such TWMH Members, TIG GP Members and TIG MGMT Members of their Paired Interests for Class A Common Stock in accordance with the Umbrella LLC Agreement and the making of payments under the TRA.

Pursuant to the terms of the TRA, the Company generally will pay an amount equal to 85% of the net tax benefit that it receives from such exchanges to the TWMH Members, the TIG GP Members, and the TIG MGMT Members. The costs and expenses of administering the TRA will be borne 15% by the Company and 85% by the TWMH Members, the TIG GP Members and the TIG MGMT Members, or in certain instances, all or a portion of such 85% amount may be borne by Umbrella.

The TRA is recognized on the Consolidated Statement of Financial Condition as the TRA Liability. The value of the TRA Liability as of December 31, 2024 and December 31, 2023 was $28.8 million and $17.6 million, respectively. As of December 31, 2024 and December 31, 2023, the Company carried $9.4 million and $13.2 million, respectively, of its TRA Liability at fair value, as it is contingent consideration from the Business Combination. The remaining portion related to the TRA Exchange of $19.4 million and $4.4 million as of December 31, 2024 and December 31, 2023, respectively, is recorded at its carrying value. For the years ended December 31, 2024 and December 31, 2023, the Company recognized a gain of $3.9 million and a loss of $(0.2) million, respectively, which is recorded in Gain (loss) on TRA in the Consolidated Statement of Operations.

On August 31, 2023, holders of Class B Units exchanged 1,813,248 Class B Paired Interests with the Company, for shares of Class A Common Stock on a 1:1 basis totaling an amount equal to $7.31 multiplied by the total number of shares of Class A Common Stock received at the time of the transaction. On March 11, 2024, holders of Class B Units exchanged 4,954,518 Class B Paired Interests with the Company, for shares of Class A Common Stock on a 1:1 basis totaling an amount equal to $6.61 multiplied by the total number of shares of Class B Paired Interests exchanged at the time of the transaction. On May 14, 2024, holders of Class B Units exchanged 286,242 Class B Paired Interests with the Company, for shares of Class A Common Stock on a 1:1 basis totaling an amount equal to $4.69 multiplied by the total number of shares of Class B Paired Interests exchanged at the time of the transaction. On August 19, 2024, holders of Class B Units exchanged 1,840,077 Class B Paired Interests with the Company, for shares of Class A Common Stock on a 1:1 basis totaling an amount equal to $4.06 multiplied by the total number of shares of Class B Paired Interests exchanged at the time of the transaction.

For the year ended December 31, 2024, the Company made tax distributions to Class B Units holders of $2.8 million.

Business Combination Earn-out Liability

Under the terms of the Business Combination, upon closing, the selling shareholders of TWMH, TIG, and Alvarium became entitled to receive earn-out shares contingent on various share price milestones and in the event of a change in control. 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. As of December 31, 2024 and December 31, 2023, the fair value of the Business Combination Earn-out Liability was $23.8 million and $62.4 million, respectively, and is reported in Earn-out liabilities, at fair value, in the Consolidated Statement of Financial Position. The Company recognized the change in fair value of $(38.5) million and $(29.4) million for the years ended December 31, 2024 and December 31, 2023, respectively, which is recorded in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change.

AWMS Earn-out Liability

On August 2, 2023, the Company acquired the remaining 70% of the issued and outstanding ownership and membership interests of AWMS, increasing its interest from 30% to 100%. The AWMS Acquisition was accounted for using the acquisition method of accounting and the fair value of the total purchase consideration transferred was $16.8 million. The total purchase consideration transferred includes cash consideration, equity consideration, deferred cash consideration, earn-out consideration, (or AWMS earn-out liability), and the payment of assumed liabilities. During the fourth quarter of 2024, the AWMS earn-out liability was fully paid. As of December 31, 2024 and December 31, 2023, the AWMS earn-out liability of $0.0 million and $1.1 million, respectively, is reported in Earn-out liabilities, at fair value, in the Consolidated Statement of Financial Position. Since the AWMS earn-out liability meets the definition of a derivative, it is recorded at fair value as a derivative liability on the Consolidated Statement of Financial Position and measured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement. The Company recognized the change in fair value of $(0.4) million and $(1.7) million for the years ended December 31, 2024 and December 31, 2023, respectively, which is recorded in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change.

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. Included in the total purchase consideration is 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 (or EEA earn-out liability). As of December 31, 2024, the EEA earn-out liability of $29.9 million is reported in Earn-out liabilities, at fair value, in the Consolidated Statement of Financial Position. The fair value will be remeasured at each reporting date in accordance with ASC 820, Fair Value Measurement. The Company recognized the change in fair value of $6.6 million for the year ended December 31, 2024, which is recorded in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change.

Envoi Earn-out Liabilities

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, 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 December 31, 2024, the Envoi earn-out consideration liability of $9.6 million and the Envoi earn-out growth consideration liability of $1.3 million are reported in the Earn-out liabilities, at fair value, in the Consolidated Statement of Financial Position. The Company recognized the change in fair value for the Envoi earn-out consideration liability and the Envoi earn-out growth consideration liability of $1.6 million and $0.3 million, respectively, for the year ended December 31, 2024, which is recorded in Gain (loss) on earnout liabilities in the Consolidated Statement of Operations and in Fair value (gain) loss on earnout liability in the Consolidated Statement of Cash Flows in the period of change.

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 measured at fair value at the acquisition date. As of December 31, 2024, the deferred consideration of $3.3 million is recorded within the Other liabilities line item in the Consolidated Statement of Financial Position. For the year ended December 31, 2024, the Company recognized the change in fair value for the deferred consideration liability of $(10.7) thousand, of which $90.1 thousand is recorded in Gain (loss) on earnout liabilities and $(100.8) thousand is recorded in Interest expense, both in the Consolidated Statement of Operations.

Fees Receivable, net

The Company recognizes fees at the time of transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Fees recognized are calculated based on contractual terms, including the transaction price, whether a distinct performance obligation has been satisfied and control is transferred to the customer, and when collection of the revenue is assessed as probable. Such fees are recognized in the Consolidated Statement of Financial Condition as Fees Receivable, net. As of December 31, 2024 and December 31, 2023, fees due from Alvarium related fee arrangements were $0.1 million and $0.2 million, respectively. Additionally, as of December 31, 2024 and December 31, 2023, management and incentive fees receivable due from TIG related fee agreements were $0.8 million and $15.8 million, respectively.

Allianz Transactions

On July 31, 2024, the Company closed on the Allianz Transaction which resulted in the issuance of 140,000 shares of Series A Preferred Stock, 19,318,580.96 shares of Class A Common Stock, the Allianz Warrants to purchase 5,000,000 shares of Class A Common Stock, and the Allianz Tranche Right which permits Allianz, at its option, to purchase up to 50,000 additional shares of Series A Preferred Stock up to an aggregate amount equal to $50 million.

Additionally, the Board established a Transaction Committee for purposes of reviewing and assessing all proposals, plans, or recommendations by the Company’s management with respect to potential or proposed merger, acquisition or investment (including minority investments and investments into any funds); (ii) material asset purchase (including the hiring of groups of key employees of target businesses in lieu of acquiring legal

entities or property); (iii) divestiture or disposition of a material asset or a material portion of any business; and (iv) financing of any of the foregoing.

Pursuant to the Allianz Investor Rights Agreement, Allianz has the right to nominate two directors (the “Investor Designees”) until such time as Allianz ceases to own at least 50% of the initial shares of Class A Common Stock. For so long as Allianz is permitted to designate the Investor Designees, one Investor Designee will serve as a member of the Transaction Committee and each Investor Designee will serve as a member of at least one other Board committee.

Based on Allianz’s rights under the Investor Rights Agreement, including to hold Board seats, the Company has concluded that Allianz represents a related party. As of December 31, 2024, the Allianz Warrants of $6.6 million are recorded as a component of equity in the line item Additional paid-in capital on the Company’s Consolidated Statement of Financial Position.

The Allianz Tranche Right of $3.9 million is recorded in the line item Preferred stock tranche liability on the Company’s Consolidated Statement of Financial Position. For the year ended December 31, 2024, the change in fair value of the Allianz Tranche Right is $0.6 million and is recorded in the line item Gain (loss) on preferred stock tranche liability in the Consolidated Statement of Operations.

The Series A Preferred Stock of 142,858 is classified outside of permanent equity as mezzanine equity in the accompanying Consolidated Statement of Financial Position and is presented net of issuance costs and inclusive of accrued dividends. Refer to Note 1 (Description of the Business), Note 7 (Fair Value Disclosures), and Note 14 (Debt, net of unamortized deferred financing cost) for additional details around instruments related to the Allianz Transaction.

As of December 31, 2024, the Company entered into an equity method investment of $20.3 million with Allianz, which is recorded in the line item Equity method investments on the Company’s Consolidated Statement of Financial Position. Refer to Note 8 (Equity Method Investments) for additional details. No earnings were recognized related to the equity method investment for the year ended December 31, 2024 as the investee’s financial information is on a one quarter lag basis.

Constellation Transaction

As of the first quarter ended March 31, 2024, the Company entered into an agreement with Constellation for the sale and issuance of 150,000 shares of Series C Preferred that occurred in two transactions, the first of which closed on March 27, 2024, for the sale of 115,000 shares and the second of which closed on May 15, 2024, for the sale of 35,000 shares. The Series C Preferred Stock will receive cumulative, compounding dividends at a rate of 9.75% per year on the aggregate purchase price of $150 million, subject to annual adjustments based on the stock price of the Class A Common Stock during the fourth quarter of each applicable year (subject to a maximum rate of 9.75%) on the sum of (i) $1,000 per share plus, (ii) once compounded, any compounded dividends thereon ($1,000 per share plus accumulated compounded dividends and accrued but unpaid dividends through any date of determination).

Dividends will be paid (at the option of the Company) as payment in kind increase in the stated value of the issued shares of Series C Preferred Stock or in cash. The Series C Preferred Stock will also participate with any dividends or distributions declared on the Class A Common Stock. As of December 31, 2024, the 150,000 outstanding shares of Series C Preferred Stock represent 7.5% of the total voting power of all shares.

Additionally, the Company issued the “Constellation Warrants to purchase 2,000,000 shares of the Company’s Class A Common Stock at an exercise price of $7.40 per share. On March 27, 2024 and May 15, 2024, the Company completed the initial and additional issuances of Constellation Warrants to purchase 1,533,333 shares

and 466,667 shares, respectively, of the Company’s Class A Common Stock. No Constellation Warrants were exercised during the current reporting period. As of December 31, 2024, the Constellation Warrants of $3.0 million are recorded as a component of equity in the line item Additional paid-in capital on the Company’s Consolidated Statement of Financial Position.

- 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 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 2: 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 3: 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 4: 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 5: 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 6: 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 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

Equity Method Investments	12 Months Ended
Equity Method Investments	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments As of December 31, 2024 and December 31, 2023, the Company had $27.5 million and $14.2 million, of equity method investments recorded within equity method investments on the Consolidated Statement of Financial Position and Consolidated Statement of Financial Position, respectively. 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. For the years ended December 31, 2024 and December 31, 2023, the Company recognized $4.1 million and $6.6 million, respectively, of impairment on its equity method investments within gain (loss) on investments in the Consolidated Statement 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 years ended December 31, 2024 and December 31, 2023, the Company recognized $69.1 thousand and $9.0 million, respectively, of impairment to these assets. The Company evaluates each of its equity method investments to determine if any were significant as defined by guidance from the SEC. As of and for the years ended December 31, 2024, 2023 and 2022, no equity method investment held by the Company met the significance criteria individually or in aggregate. As such, the Company is not required to present separate financial statements or supplemental financial information for any of its equity method investments.

Consolidated Statement of Financial Position (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
TRA liability, fair value	$ 9,378	$ 13,233
Preferred stock, issued (in shares)	150,000
Series A Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	795,947	0
Preferred stock, issued (in shares)	140,000	0
Preferred stock, outstanding (in shares)	140,000	0
Series C Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	150,000	0
Preferred stock, issued (in shares)	150,000	0
Preferred stock, outstanding (in shares)	150,000	0
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)	93,686,980	65,110,875
Common stock, outstanding (in shares)	93,686,980	65,110,875
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)	46,138,876	53,219,713
Common stock, outstanding (in shares)	46,138,876	53,219,713
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
Contract with customer, receivable	$ 33,616	$ 70,421
Fees receivable \| Related party
Contract with customer, receivable	$ 920	$ 16,069

Related Party Transactions - Delayed Share Purchase Agreement (Details) - USD ($)		8 Months Ended	12 Months Ended
	Jul. 27, 2023	Mar. 25, 2024	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Delayed share purchase agreement			$ 0	$ 1,818,000
Share and cash compensation associated with delayed share purchase agreement			$ 40,000	1,100,000
Accrued compensation and profit sharing
Related Party Transaction [Line Items]
Delayed share purchase agreement				300,000
Additional paid-in-capital
Related Party Transaction [Line Items]
Delayed share purchase agreement				$ 1,200,000
Tiedemann International Holdings, AG ("TIH") \| Tiedemann Wealth Management Holdings, LLC
Related Party Transaction [Line Items]
Cash consideration	$ 2,200,000	$ 2,100,000
Tiedemann International Holdings, AG ("TIH") \| Tiedemann Wealth Management Holdings, LLC \| Class A Common Stock
Related Party Transaction [Line Items]
Equity consideration		$ 1,200,000

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

12 Months Ended

Dec. 31, 2024

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 Consolidated Statement of Financial Position.


(Dollars in Thousands)	As of December 31, 2024		As of December 31, 2023
Fixed assets, net:
Leasehold improvements	$	17,736	$	4,978
Office equipment and furniture	3,329		3,489
Foreign currency translation difference	168		(270)
Accumulated depreciation and amortization	(5,092)		(5,665)
Fixed assets, net	16,141		2,532
Lease incentive receivables	5,522		7,038
Accrued income	16,011		17,124
Prepaid expenses	9,116		8,045
Sundry receivables	6,744		5,664
Other receivables	5,321		5,166
Other assets	942		2,613
Other assets, net (1)	$	59,797	$	48,182

Schedule of Other Liabilities

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


(Dollars in Thousands)	As of December 31, 2024	As of December 31, 2023
AWMS deferred cash consideration	—	7,135
PW deferred consideration	3,339	—

Payroll	—	5,202
Corporation tax payable	2,342	—
Sundry	3,556	3,422
Other	1,563	6,775
Accrued legal	5,125	—


Other Liabilities, net (1)	15,925	22,533

year ended December 31, 2023. See Note 17 (Related Party Transactions) and Note 2 (Summary of Significant Accounting Policies), respectively, for further details.

Goodwill, net - Reconciliation of Goodwill, Net (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Goodwill
Gross goodwill, beginning balance		$ 411,634	$ 530,547
Accumulated impairment losses, beginning balance		0
Net goodwill, beginning balance		411,634	530,547
Goodwill, period increase (decrease)		(33,792)	(118,913)
Goodwill acquired during the period		44,065	18,972
Impairment charges	$ (153,600)	(69,724)	(153,859)
Resegmentation of US Asset Management		0
Measurement period adjustments		3,600
Currency translation and other adjustments		(11,733)	15,974
Gross goodwill, ending balance		377,842	411,634
Accumulated impairment losses, ending balance		0	0
Net goodwill, ending balance		377,842	411,634
Wealth & Capital Solutions
Goodwill
Gross goodwill, beginning balance		321,154
Accumulated impairment losses, beginning balance		0
Net goodwill, beginning balance		321,154
Goodwill, period increase (decrease)		56,688
Goodwill acquired during the period		44,065
Impairment charges		(29,367)
Resegmentation of US Asset Management		40,625
Measurement period adjustments		3,600
Currency translation and other adjustments		(2,235)
Gross goodwill, ending balance		377,842	321,154
Accumulated impairment losses, ending balance		0	0
Net goodwill, ending balance		377,842	321,154
Wealth Management
Goodwill
Gross goodwill, beginning balance		321,154	298,118
Net goodwill, beginning balance		321,154	298,118
Goodwill, period increase (decrease)			23,036
Goodwill acquired during the period			18,972
Impairment charges			0
Currency translation and other adjustments			4,064
Gross goodwill, ending balance			321,154
Net goodwill, ending balance			321,154
International Real Estate
Goodwill
Gross goodwill, beginning balance		90,480	232,429
Accumulated impairment losses, beginning balance		0
Net goodwill, beginning balance		90,480	232,429
Goodwill, period increase (decrease)		(90,480)	(141,949)
Goodwill acquired during the period		0	0
Impairment charges		(40,357)	(153,859)
Resegmentation of US Asset Management		(40,625)
Measurement period adjustments		0
Currency translation and other adjustments		(9,498)	11,910
Gross goodwill, ending balance		0	90,480
Accumulated impairment losses, ending balance		0	0
Net goodwill, ending balance		$ 0	$ 90,480

Segment Reporting - Narrative (Details) - segment	3 Months Ended	12 Months Ended
Segment Reporting - Narrative (Details) - segment	Sep. 30, 2024	Dec. 31, 2024
Segment Reporting [Abstract]
Number of operating segments	2	2

Equity Method Investments (Details) - USD ($)	12 Months Ended
Equity Method Investments (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity method investments	$ 27,517,000	$ 14,194,000
Impairment on its equity method investments	4,100,000	6,600,000
Asset impairment charge	$ 69,100	$ 9,000,000

- 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

Retirement Plans - Narrative (Details) $ in Millions	12 Months Ended
Retirement Plans - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($)
Postemployment Benefits [Abstract]
Defined contribution plan, tax status	Qualified Plan [Member]
Contributions payable	$ 1.9

Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The following table summarizes the equity-based compensation award activity for the years ended December 31, 2024, and December 31, 2023:


	December 31, 2024			December 31, 2023
	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	4,797,464	$	4.64	—	$	—
Restricted common stock granted	4,181,243	5.18		7,514,293	6.44
Restricted common stock forfeited	(938,383)	4.86		(182,627)	4.35
Restricted common stock vested	(1,823,811)	4.99		(2,534,202)	9.99
Restricted common stock awards outstanding at end of period	6,216,513	$	4.86	4,797,464	$	4.64

Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award


	For the Year Ended
(Dollars in Thousands)		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
RSUs		$	10,554	$	36,779	$	—
PRSUs		3,241		—		—
Acquisition-related		6,891		6,968		3,716
TIH SPA		—		1,178		—
Revenue share		1,077		1,249		—
Deferred compensation		4,523		—		—
Total		$	26,287	$	46,174	$	3,716

Business Combinations and Divestitures - Purchase Consideration Transferred (Details) - USD ($) $ in Thousands	Jul. 01, 2024	May 09, 2024	Apr. 03, 2024	Aug. 02, 2023	Jan. 03, 2023	Dec. 31, 2024	Dec. 31, 2023
Alvarium, TWMH And TIG
Business Combination, Consideration Transferred [Abstract]
Cash consideration					$ 99,999
Earn-out consideration					85,097
Tax Receivable Agreement					13,000
Payment of assumed liabilities					760
Total purchase consideration transferred					1,071,116
Alvarium, TWMH And TIG \| Class A Common Stock
Business Combination, Consideration Transferred [Abstract]
Equity consideration					294,159
Alvarium, TWMH And TIG \| Class B Common Stock
Business Combination, Consideration Transferred [Abstract]
Equity consideration					573,205
Alvarium, TWMH And TIG \| Warrants
Business Combination, Consideration Transferred [Abstract]
Equity consideration					$ 4,896
AlTi Wealth Management (Switzerland) SA (“AWMS”)
Business Combination, Consideration Transferred [Abstract]
Cash consideration				$ 5,711
Equity consideration				1,459
Deferred cash consideration				6,695
Earn-out consideration				2,721
Payment of assumed liabilities				168
Deferred consideration						$ 0	$ 7,135
Total purchase consideration transferred				$ 16,754
East End Advisors, LLC ("EEA")
Business Combination, Consideration Transferred [Abstract]
Cash consideration			$ 69,013
Contingent consideration installments			23,308
Payment of assumed liabilities			793
Total purchase consideration transferred			$ 93,114
Pointwise Partners Limited ("PW")
Business Combination, Consideration Transferred [Abstract]
Cash consideration		$ 1,735
Equity consideration		1,705
Payment of assumed liabilities		3,300
Deferred consideration		3,328				$ 3,339	$ 0
Settlement of pre-existing relationships		1,186
Total purchase consideration transferred		$ 7,954
Envoi, LLC (“Envoi”)
Business Combination, Consideration Transferred [Abstract]
Cash consideration	$ 25,258
Earn-out consideration	9,000
Total purchase consideration transferred	$ 34,258

Other assets, net and Other liabilities, net - Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Foreign currency translation difference	$ 168	$ (270)
Accumulated depreciation and amortization	(5,092)	(5,665)
Fixed assets, net	16,141	2,532
Lease incentive receivables	5,522	7,038
Accrued income	16,011	17,124
Prepaid expenses	9,116	8,045
Sundry receivables	6,744	5,664
Other receivables	5,321	5,166
Other assets	942	2,613
Other assets, net	59,797	48,182
Other assets \| Related party
Property, Plant and Equipment [Line Items]
Related Party Receivables	3,500	6,700
Leasehold improvements
Property, Plant and Equipment [Line Items]
Fixed assets, gross	17,736	4,978
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 3,329	$ 3,489

Fair Value Disclosures - Valuation Methodologies (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Jul. 01, 2024 USD ($)	Apr. 03, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 148,674			$ 165,894
Contingent consideration receivable	1,389			0
TRA liability, fair value	9,378			13,233
Earn-out liability, fair value	64,639			63,444
Preferred stock tranche liability	3,940			0
Alvarium, TWMH And TIG
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	23,800			62,400
East End Advisors, LLC ("EEA")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	29,900		$ 23,300
Envoi, LLC (“Envoi”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value		$ 9,000
Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	9,600
Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	1,300
AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	0			1,100
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration receivable	1,389
TRA liability, fair value	9,378			13,233
Preferred stock tranche liability	3,940
Level 3 \| Alvarium, TWMH And TIG
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	23,848			62,380
Level 3 \| East End Advisors, LLC ("EEA")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	29,871
Level 3 \| Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	9,600
Level 3 \| Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	1,320
Level 3 \| AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	$ 0			$ 1,064
Level 3 \| Long-term growth rate \| Discounted Cash Flow \| Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.109
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)	0.043
Level 3 \| Risk-free rate \| Discounted Cash Flow \| Envoi, LLC (“Envoi”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.042
Level 3 \| Risk-free rate \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration receivable, measurement input (in percent)	0.042
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)	0.043			0.039
Level 3 \| Risk-free rate \| Monte Carlo \| Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.043
Level 3 \| Risk-free rate \| Monte Carlo \| AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)				0.011
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)	0.048
Level 3 \| Volatility \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration receivable, measurement input (in percent)	0.265
TRA liability, measurement input (in percent)	0.550			0.400
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)	0.700			0.400
Level 3 \| Volatility \| Binomial lattice model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock tranche liability, measurement input (in percent)	0.500
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)	0.079
Level 3 \| Credit spread \| Discounted Cash Flow \| Envoi, LLC (“Envoi”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.077
Level 3 \| Credit spread \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration receivable, measurement input (in percent)	0.008
Level 3 \| Credit spread \| Binomial lattice model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock tranche liability, measurement input (in percent)	0.079
Level 3 \| Metric volatility \| Monte Carlo \| Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.330
Level 3 \| Correlation \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.225			0.200
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)	0.163
Level 3 \| Revenue risk-adjusted discount rate \| Discounted Cash Flow \| Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.125
Level 3 \| Revenue Discount Rate \| Monte Carlo \| Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.125
Level 3 \| Revenue Discount Rate \| Monte Carlo \| AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)				0.035
Level 3 \| Credit Risk Adjusted Discount Rate \| Monte Carlo \| Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)	0.119
Level 3 \| Revenue Volatility \| Monte Carlo \| AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)				0.140
Level 3 \| Liability Discount Rate \| Monte Carlo \| AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)				0.056
Level 3 \| Deferred Payment Liability Discount Rate \| Monte Carlo \| AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input (in percent)				0.053
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
Level 3 \| Minimum \| Cost of debt range \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.102			0.041
Level 3 \| Minimum \| Equity risk premium \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.061			0.074
Level 3 \| Maximum \| Cost of debt range \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.109			0.051
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			0.131
Level 3 \| Investments – external strategic managers
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 147,568			$ 164,077
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)	0.180			0.215
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)	0.33			0.290

Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Reporting

Effective as of September 30, 2024, certain changes were made to the composition of our operating segment information related to the strategic review of our Real Estate Businesses. We determined this change was necessary to align external reporting with how management views the current state of the business in addition to how our chief operating decision maker (“CODM”), currently, our Chief Executive Officer, assesses the Company’s performance and allocation of resources. The CODM considers segment revenue as a key metric 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.

The Company maintains two operating segments: Wealth and Capital Solutions includes the results Wealth Management business, the internally managed Event Driven strategy, and our stakes in three externally managed Alternative investment strategies. International Real Estate, includes the businesses previously reported as Real Estate Co-investment and Real Estate Fund Management, as well as all current and former Alvarium International Asset Management businesses. A corporate reconciling column (“Corporate”) has been included to provide a reconciliation between our total reportable segment activities and consolidated amounts. Corporate does not qualify to be reported as an operating segment.

Prior period amounts have been recast to conform to the Company’s current period segment presentation. The Company’s operating segment information was prepared using the following methodologies and generally represents the information that is relied upon by management in its decision-making process.

•Revenues and expenses directly associated with each operating segment are included in determining net income/(loss) by segment.

•Indirect expenses (such as general and administrative expenses including executive and indirect overhead costs) not directly associated with specific operating segments are allocated to the operating segments’ statement of operations.

Expenses

The expense categories that are regularly reviewed by the CODM are presented in the Company's Consolidated Statement 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.

See Note 1 (Description of the Business) and the tables below for more detail on unallocated items.

The following tables present the financial information for the Company’s segments for the periods indicated.


	For the Year Ended
(Dollars in Thousands)	December 31, 2024								December 31, 2023
Net Income by Segment	Wealth & Capital Solutions		International Real Estate		Corporate		Total		Wealth & Capital Solutions		International Real Estate		Corporate		Total
Revenue:
Management/advisory fees	$	182,599	$	7,856	$	—	$	190,455	$	160,785	$	20,076	$	—	$	180,861
Incentive fees	3,256		—		—		3,256		42,674		703		—		43,377
Distributions from investments	12,304		—		—		12,304		17,185		—		—		17,185
Other income/fees	97		688		135		920		501		4,993		—		5,494
Total revenue	198,256		8,544		135		206,935		221,145		25,772		—		246,917


	For the Year Ended
(Dollars in Thousands)	December 31, 2022
Net Income by Segment	Tiedemann Wealth Management Holdings, LLC
Revenue:
Management/advisory fees	$	76,872



Total income	76,872


(Dollars in Thousands)	For the Year Ended
Revenues by Geography	December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
United States	$	134,893	$	153,899	$	72,181
United Kingdom	$	33,163	$	54,949	$	3,863
Rest of World	$	38,879	$	38,069	$	828
Total Revenues	$	206,935	$	246,917	$	76,872


(Dollars in Thousands)
Long-lived Assets by Geography	As of December 31, 2024		As of December 31, 2023
United States	$	44,275	$	41,603
United Kingdom	$	4,721	$	5,434
Rest of World	$	3,893	$	3,807
Total Assets	$	52,889	$	50,844


(Dollars in Thousands)
Assets by Segment	As of December 31, 2024		As of December 31, 2023
Wealth & Capital Solutions	1,160,272		1,134,264
International Real Estate	$	23,738	$	125,229
Corporate	71,823		6,804
Total Assets	$	1,255,833	$	1,266,297

- 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

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+ Details

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Effective tax rate (in percent)	10.80%	3.30%	(9.60%)
Valuation allowance	$ 53,654	$ 42,007
Domestic Tax Authority
Income Tax Contingency [Line Items]
Net operating losses	60,700
Valuation allowance	16,800
Foreign Tax Authority
Income Tax Contingency [Line Items]
Valuation allowance	$ 143,000

Fair Value Disclosures

12 Months Ended

Dec. 31, 2024

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.

•AWMS Earn-Out 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 rating. As of September 30, 2024, the settlement amount became known, which is based on actual revenues received. As such, the use of the Level 3 valuation technique has been discontinued. Additionally, during the fourth quarter of 2024, the AWMS earn-out liability was fully paid.

•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.

•Earn-In Consideration Payable - The Company’s valuation approach utilized a Monte Carlo simulation to estimate future revenue and the implied earn in payment discounted using the liability discount rate which was estimated based on the credit rating of TWMH. On July 14, 2023, the Company amended the Holbein purchase agreement related to the Holbein acquisition discussed in Note 5 (Equity-Based Compensation), which crystallized the contingent earn-in consideration amount and discontinued the use of a Level 3 valuation technique.

•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.

•Contingent Consideration Receivable - The Company utilized a Monte Carlo simulation to estimate the future share price of the acquirer of LRA, and the implied contingent consideration discounted using the risk-free rate and the acquirer’s estimated credit spread.

•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.

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

The following is a summary categorization of the Company’s financial instruments based on the inputs utilized in determining the value of such financial instruments. Investments at fair value as of December 31, 2024, and December 31, 2023 are presented below:


	As of December 31, 2024
	Level 1		Level 2		Level 3
(Dollars in Thousands)	Quoted Prices		Observable Inputs		Unobservable Inputs		Total
Assets:
Mutual funds	$	105	$	—	$	—	$	105
Exchange-traded funds and BDC funds	118		—		—		118
Investments – External Strategic Managers (1)	—		—		147,568		147,568
Investments – Affiliated Funds (2)	—		—		—		883
Contingent consideration receivable	—		—		1,389		1,389
Total	$	223	$	—	$	148,957	$	150,063

Liabilities:

Preferred stock tranche liability	$	—	$	—	$	3,940	$	3,940
Earn-out liabilities	—		—		64,639		64,639

TRA liability (3)	—		—		9,378		9,378

Earn-in consideration payable	932		—		—		932
Total	$	932	$	—	$	77,957	$	78,889

(1) The fair value of certain investments within the Company’s Investments - External Strategic Managers are reported on a one-month lag from the fund financial statements due to timing of the information provided by the funds and third-party entities unless information is available on a timelier basis. As a result, any changes in the markets in which our managed funds operate, and the impact market conditions have on underlying asset valuations, may not yet be reflected in reported amounts.

(2) Investments in Affiliated Funds are measured at fair value using the net asset value (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 Consolidated Statement of Financial Position.

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


	As of December 31, 2023
	Level 1		Level 2		Level 3
(Dollars in Thousands)	Quoted Prices		Observable Inputs		Unobservable Inputs		Total
Assets:
Mutual funds	$	75	$	—	$	—	$	75
Exchange-traded funds	108		—		—		108
Investments – External Strategic Managers	7		—		164,077		164,084
Investments – Affiliated Funds (1)	—		—		—		1,627

Total	$	190	$	—	$	164,077	$	165,894

Liabilities:

Earn-out liabilities	$	—	$	—	$	63,444	$	63,444
TRA liability (2)	—		—		13,233		13,233
Earn-in consideration payable	1,830		—		—		1,830

Total	$	1,830	$	—	$	76,677	$	78,507

(1) Investments in Affiliated Funds are measured at fair value using the net asset value (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 Consolidated Statement of Financial Position.

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

Reconciliation of Fair Value Measurements Categorized within Level 3

Unrealized gains and losses on the Company’s assets and liabilities carried at fair value on a recurring basis are included within other losses in the Consolidated Statement of Operations. During the year ended December 31, 2024, there was one transfer from Level 3 to Level 1 of the AWMS earn-out liability. During the year ended December 31, 2023, there was one transfer from Level 3 to Level 1 of the earn-in consideration payable. The following table sets forth a summary of changes in the fair value of Level 3 measurements as of December 31, 2024 and December 31, 2023:


	Level 3 Liabilities as of December 31, 2024
(Dollars in Thousands)	TRA liability		Earn-out liability		AWMS earn-out liability		EEA earn-out liability		Envoi earn-out consideration liability		Envoi earn-out growth consideration liability		Preferred stock tranche liability		Total
Beginning balance	$	13,233	$	62,380	$	1,064	$	—	$	—	$	—	$	—	$	76,677
Issuances	—		—		—		23,308		7,980		1,020		4,540		36,848
Settlements	—		—		—		—		—		—		—		—
Net (gains) losses	(3,855)		(38,532)		39		6,563		1,620		300		(600)		(34,465)
Transfers out of Level 3	$	—	$	—	(1,103)		—		—		—		$	—	$	(1,103)
Ending balance	$	9,378	$	23,848	$	—	$	29,871	$	9,600	$	1,320	$	3,940	$	77,957


	Level 3 Liabilities as of December 31, 2023
(Dollars in Thousands)	TRA Liability		Earn-out Liability		AWMS earn-out liability		Earn-in consideration payable		Total
Beginning balance	$	13,000	$	91,761	$	—	$	1,519	$	106,280
Issuances	—		—		2,721		—		2,721
Settlements	—		—		—		—		—
Net (gains) losses	233		(29,381)		(1,657)		311		(30,494)
Transfers out of Level 3	$	—	$	—	—		$	(1,830)	$	(1,830)
Ending balance	$	13,233	$	62,380	$	1,064	$	—	$	76,677


	Level 3 Assets as of December 31, 2024
(Dollars in Thousands)	Investments – External Strategic Managers		Contingent Consideration Receivable		Total
Beginning balance	$	164,077	$	—	$	164,077
Realized and Unrealized Gains (Losses)	(16,509)		(546)		(17,055)
Purchases	—		1,935		1,935

Ending balance	$	147,568	$	1,389	$	148,957


	Level 3 Assets as of December 31, 2023
(Dollars in Thousands)	Investments – External Strategic Managers		Total
Beginning balance	$	146,130	$	146,130
Realized and Unrealized Gains (Losses)	$	2,580	$	2,580
Purchases	$	15,367	$	15,367

Ending balance	$	164,077	$	164,077

Valuation Methodologies for Fair Value Measurements Categorized within Level 3 as of December 31, 2024


(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	$	147,568	Discounted Cash Flow	Discount rate	18.0% -33%		Lower
				Long-term growth rate	4.0	%	Higher
Contingent consideration receivable	$	1,389	Monte Carlo	Risk-free rate	4.2	%	Higher
				Volatility	26.5	%	Lower
				Credit spread	0.8	%	Lower
Level 3 Liabilities:
TRA liability	$	9,378	Monte Carlo	Volatility	55.0	%	Lower
				Correlation	22.5	%	Higher
				Cost of debt range	10.2% - 10.9%		Lower
				Equity risk premium	6.1% - 13.2%		Lower
Business Combination earn-out liability	$	23,848	Monte Carlo	Volatility	70.0	%	Higher
				Risk-free rate	4.3	%	Higher




EEA earn-out liability	$	29,871	Discounted Cash Flow	EBITDA Discount Rate	16.3	%	Lower
				Risk-free rate	4.3	%	Lower
				Credit spread	7.9	%	Lower
Envoi earn-out consideration liability	$	9,600	Discounted Cash Flow	Growth rate	10.9	%	Higher
				Revenue risk-adjusted discount rate	12.5	%	Lower
				Risk-free rate	4.2	%	Lower
				Credit spread	7.7	%	Lower
Envoi earn-out growth consideration liability	$	1,320	Monte Carlo	Metric volatility	33.0	%	Lower
				Risk-free rate	4.3	%	Lower
				Revenue discount rate	12.5	%	Lower
				Credit Risk Adjusted Discount Rate	11.9	%	Lower


Preferred stock tranche liability	$	3,940	Binomial lattice model	Volatility	50.0	%	Higher
				Probability of option exercise	50.0	%	Higher
				Risk-free rate	4.8	%	Lower
				Credit spread	7.9	%	Lower

Valuation Methodologies for Fair Value Measurements Categorized within Level 3 as of December 31, 2023


(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	$	164,077	Discounted Cash Flow	Discount rate	21.5% -29.0%		Lower
				Long-term growth rate	4.0	%	Higher
Level 3 Liabilities:
TRA liability	$	13,233	Monte Carlo	Volatility	40.0	%	Lower
				Correlation	20.0	%	Higher
				Cost of debt range	4.1% - 5.1%		Lower
				Equity risk premium	7.4% - 13.1%		Lower

Business Combination earn-out liability	$	62,380	Monte Carlo	Volatility	40.0	%	Higher
				Risk-free rate	3.9	%	Higher

AWMS earn-out liability	$	1,064	Monte Carlo	Revenue Volatility	14.0	%	Higher
				Risk-free rate	1.1	%	Higher
				Revenue Discount Rate	3.5	%	Lower
				Liability Discount Rate	5.6	%	Lower
				Deferred Payment Liability Discount Rate	5.3	%	Lower

- 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.

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+ Details

Related Party Transactions - Pointwise Deferred Consideration (Details) - USD ($)		12 Months Ended
	May 09, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	May 08, 2024
Related Party Transaction [Line Items]
Gain (loss) on earnout liabilities		$ (30,727,000)	$ (31,104,000)	$ 0
Interest expense		(22,146,000)	(14,501,000)	(427,000)
Other comprehensive income (loss)		119,000	(764,000)	$ 0
Pointwise Partners Limited ("PW")
Related Party Transaction [Line Items]
Voting interest acquired (in percent)	50.00%
Equity interest (in percent)					50.00%
Equity interest, including subsequent acquisition (in percent)	100.00%
Total purchase consideration transferred	$ 7,954,000
Payment of assumed liabilities	3,300,000
Deferred cash consideration	$ (3,328,000)	(3,339,000)	$ 0
Change in fair value of deferred consideration liability		10,700
Gain (loss) on earnout liabilities		90,100
Interest expense		$ (100,800)

Related Party Transactions - Constellation Transaction (Details) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended	12 Months Ended
	May 15, 2024	Mar. 27, 2024	Apr. 03, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 07, 2023	Jan. 02, 2023
Related Party Transaction [Line Items]
Series C Redeemable Cumulative Convertible Preferred Stock, issued (in shares)					150,000
Number of securities called by warrants or rights (in shares)							19,892,387
Warrant, exercise price (in dollars per share)								$ 11.50
Constellation warrant
Related Party Transaction [Line Items]
Warrant, exercise price (in dollars per share)					$ 7.40
Constellation warrant \| Additional paid-in-capital
Related Party Transaction [Line Items]
Warrant liabilities, at fair value					$ 3.0
Series C Preferred Stock
Related Party Transaction [Line Items]
Preferred stock, dividend rate (in percent)					9.75%
Dividend aggregate purchase price					$ 150.0
Preferred stock, dividend rate, per-dollar amount (in dollars per share)					$ 1,000
Preferred stock, outstanding (in shares)					150,000	0
Series C Redeemable Cumulative Convertible Preferred Stock, issued (in shares)					150,000	0
Preferred stock, total voting power (in percent)					7.50%
Series C Preferred Stock \| Maximum
Related Party Transaction [Line Items]
Preferred stock, dividend rate (in percent)					9.75%
Class A Common Stock
Related Party Transaction [Line Items]
Number of securities called by warrants or rights (in shares)							4,962,147
Issuance of shares - exercise of warrants (in shares)			78,864	428,626
Class A Common Stock \| Constellation warrant
Related Party Transaction [Line Items]
Number of securities called by warrants or rights (in shares)	466,667	1,533,333			2,000,000
Issuance of shares - exercise of warrants (in shares)					0
CWC AlTi Investor LLC (“Constellation”) \| Series C Preferred Stock \| Constellation Investment Agreement
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	35,000	115,000			150,000

Consolidated Statement of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (174,305)	$ (311,215)	$ (5,998)
Other Comprehensive Income (Loss)
Foreign currency translation adjustments	(14,760)	20,916	(1,077)
Other comprehensive income (loss)	119	(764)	0
Total comprehensive income (loss)	(188,946)	(291,063)	(7,075)
Other loss attributed to non-controlling interests in subsidiaries	(76,315)	(134,635)	(113)
Comprehensive income (loss) attributable to AlTi Global, Inc.	$ (112,631)	$ (156,428)	$ (6,962)

- 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.

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+ 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

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+ Details

Debt, net of unamortized deferred financing cost - Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Net Carrying Value	$ 0	$ 186,353
Line of credit
Debt Instrument [Line Items]
Debt Outstanding	0	188,750
Net Carrying Value	0	186,353
Fair Value	0	188,750
Term Loans \| Credit facility \| Line of credit
Debt Instrument [Line Items]
Debt Outstanding	0	95,000
Net Carrying Value	0	92,603
Fair Value	0	95,000
Revolving Credit Facility \| Credit facility \| Line of credit
Debt Instrument [Line Items]
Debt Outstanding	0	93,750
Net Carrying Value	0	93,750
Fair Value	$ 0	$ 93,750

- 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.

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+ Details

- Definition

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

+ References + Details

Business Combinations and Divestitures - Deconsolidation, Disposal and Assets Held For Sale (Details) - USD ($)		6 Months Ended	12 Months Ended
	May 08, 2024	May 08, 2024	Dec. 31, 2024	Dec. 31, 2023	Mar. 06, 2024	Jan. 09, 2024	Nov. 06, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible asset impairment charge			$ 2,214,000	$ 52,918,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]			Gain (loss) on investments
Assets held for sale			$ 0	56,634,000
Liabilities held for sale			0	13,792,000
Held for Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale			0	56,634,000
Liabilities held for sale			0	13,792,000
Wealth & Capital Solutions \| Disposal group, disposed of by sale, not discontinued operations \| Family Office Service ("FOS")
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposal			9,400,000
Expected cash consideration							$ 20,100,000
Adjustment to cash consolidation		$ (600,000)
Cash consideration, net of adjustments	$ 19,500,000
Alvarium RE Limited ("ARE") \| International Real Estate \| Entity owned by management Of Alvarium Home REIT Advisors Ltd (“AHRA”)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible asset impairment charge				29,400,000
LondonMetric Property Plc \| International Real Estate \| Disposal group, disposed of by sale, not discontinued operations \| LXi Reit Advisors Limited (“LRA”) \| Real Estate Fund Management
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible asset impairment charge				$ 23,500,000
Ownership percentage in disposed asset (in percent)						100.00%
Consideration receivable					$ 33,100,000	$ 33,100,000
Contingent consideration receivable					$ 5,100,000	$ 5,100,000
Gain (loss) on disposal			$ (400,000)

Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

The Company adopted ASC 842 as of January 1, 2022, on a modified retrospective basis with no cumulative adjustment to equity as of the adoption date. The Company has presented financial results and applied its accounting policies for the period beginning January 1, 2022 under ASC 842. The Company elected to take the practical expedient to not separate lease and non-lease components as part of the adoption. Lease agreements entered into after the adoption of ASC 842 that include lease and non-lease components are accounted for as a single lease component. Since January 1, 2022, the Company’s operating leases, excluding those with terms less than 12 months, have been discounted and recorded as assets and liabilities on the Company’s Consolidated Statement of Financial Position. 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 Year Ended
(Dollars in Thousands)		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Operating lease expense		$	12,680	$	8,782	$	2,974
Variable lease expense		2,709		3,165		1,353
Short-term lease expense		256		750		144
Total lease expense		$	15,645	$	12,697	$	4,471

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


	For the Year Ended
(Dollars in Thousands)	December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Operating cash flow information:
Operating cash flow from operating leases	$	8,027	$	7,131	$	2,930
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$	6,239	$	35,629	$	2,621

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


	As of December 31, 2024		As of December 31, 2023
Weighted-average remaining lease term	11.46		11.94
Weighted-average discount rate	5.99	%	6.22	%

Future minimum lease payments for the Company’s operating leases as of December 31, 2024, are as follows:


	Future Minimum Rental Operating Leases
(Dollars in Thousands)
2025	$	8,849
2026	8,391
2027	7,763
2028	7,183
2029	6,352
2030 and beyond	58,476
Total lease payments	97,014
Less: Imputed interest	33,959
Present value of lease liabilities	$	63,055

Earnings Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

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 Year Ended

December 31, 2024

December 31, 2023

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

—

Series C Preferred Stock (3)

Two-class method

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

—

Allianz Tranche Right (4)

Excluded

If-converted method

—

Warrants (5)

—

Excluded

Treasury stock method

Allianz and Constellation Warrants(6)

Excluded

Treasury stock method

—

Earn-Out Shares(7)

Excluded

Treasury stock method

Excluded

Treasury stock method

PW Deferred Consideration Shares(8)

Excluded

Treasury stock method

—

Acquisition-Related Awards(9)

Excluded

Treasury stock method

Excluded

Treasury stock method

Unvested RSUs

Excluded

Treasury stock method

Excluded

Treasury stock method

Unvested PRSUs (10)

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. For the years ended December 31, 2024 and December 31, 2023, no adjustments were made related to the Class B Common Stock.

(2) On July 31, 2024, the Company issued shares of Series A Preferred Stock and warrants for shares of Class A Common Stock. The Series A Preferred Stock is 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 year ended December 31, 2024, the shares of Series A Preferred Stock were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive.

(3) During the first quarter ended March 31, 2024, the Company issued shares of Series C Preferred Stock and warrants for shares of Class A Common Stock. The Series C Preferred Stock is 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 year ended December 31, 2024, the shares of Series C Preferred Stock were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive.

(4) The Allianz Tranche Right was issued as part of the Allianz Transaction, which 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 as described in Note 1 (Description of the Business). The Allianz Tranche Right is classified as a contingently convertible instrument and will be included in our diluted earnings per share if the right has been exercised within the reporting period. For the year ended December 31, 2024, no shares under the Allianz Tranche Right had been issued.

(5) Prior to the Business Combination, the Company issued Warrants to purchase Class A Shares. As of June 30, 2023, all Warrants were exchanged for Class A Shares and none were outstanding as of December 31, 2023.

(6) As mentioned in footnotes 2 and 3 above, the Company issued shares of Series A and C Preferred Stock in addition to warrants for Class A Shares. 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, application of the treasury stock method for calculation of diluted earnings per share is applied. For the year ended December 31, 2024, the warrants were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive.

(7) Earn-Out Shares are the portion of estimated contingent consideration related to our 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 it’s determined that the contingency period has not been completed 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. See Note 3 (Business Combinations and Divestitures) for additional information related to our Earn-Outs. For the years ended December 31, 2024 and December 31, 2023, the Earn-Out Shares were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive.

(8) 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. See Note 3 (Business Combinations and Divestitures) for additional information. For the year ended December 31, 2024, the PW Deferred Consideration Shares were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive.

(9) Acquisition-Related Awards include the Holbein Earn-Ins, EEA Equity Awards, PW Equity Awards, and Envoi Equity Awards. As of December 31, 2024, the service periods related to the Holbein Earn-Ins, EEA Equity Awards, and PW Equity Awards had not been completed, and therefore such shares have not been included in the calculation of basic earnings (loss) per share for the years ended December 31, 2024 and December 31, 2023.

In calculating the Company’s diluted earnings (loss) per share, the Company utilized the treasury stock method to determine the potential number of dilutive shares for the years ended December 31, 2024 and December 31, 2023 for the Acquisition-Related Awards.

For the years ended December 31, 2024 and December 31, 2023, the Holbein Earn-In shares were excluded from the Company’s diluted earnings per share calculation as the Earn-In shares were classified as contingently issuable common shares.

For the year ended December 31, 2024, the EEA Equity Awards, PW Equity Awards, and Envoi Equity Awards were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive.Refer to Note 5 (Equity-Based Compensation) for additional details for the Acquisition-Related Awards.

(10) During the second quarter ended June 30, 2024, the Company granted PRSUs to selected members of AlTi’s executive team. Vesting of the PRSUs is based on meeting certain market conditions and the requisite service period. Unvested PRSUs would be excluded from Basic EPS calculation, but once vested, they would be included in the Basic EPS calculation. The PRSUs would be included in the computation of diluted EPS using the treasury stock method. Assumed proceeds under the treasury stock method consist of unamortized compensation cost. If dilutive, the unvested restricted stock would be considered outstanding as of the later of the beginning of the period or the grant date for diluted EPS computation purposes. If anti-dilutive, it should be excluded from the diluted EPS computation. For the year ended December 31, 2024, the PRSUs were excluded from the Company’s diluted earnings per share calculation as the effects were determined to be anti-dilutive. See discussion of PRSUs in Note 5 (Equity-Based Compensation).

Basic earnings per share is computed by dividing income attributable to controlling interest 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:


	For the Year Ended
(Dollars in Thousands, except share data)		December 31, 2024		December 31, 2023
Net income (loss) attributable to controlling interest - basic and diluted		$	(126,549)	$	(165,584)
Net income (loss) available to the Company - diluted		$	(126,549)	$	(165,584)
Weighted-average shares of Class A Common Stock outstanding - basic		79,692,659		61,396,692
Weighted-average shares of Class A Common Stock outstanding - diluted		79,692,659		61,396,692
Income (loss) per Class A Common Stock - basic		$	(1.59)	$	(2.70)
Income (loss) per Class A Common Stock - diluted		$	(1.59)	$	(2.70)

The following table presents securities that would have been considered in the calculation of diluted earnings per share if the company had reported net income. As the company was in a net loss position, these securities were not evaluated for potential dilution:


	For the Year Ended
		December 31, 2024	December 31, 2023
Class B Common Stock and Class B Units		48,352,620	40,668,662
Warrants		—	4,992,813
Allianz and Constellation Warrants		7,000,000	—
Earn-Outs		12,583,106	10,396,318
Pointwise Deferred Consideration Shares		829,657	—
Acquisition-Related Awards		1,680,085	—
Stock Awards		3,245,446	3,432,030

Business Combinations and Divestitures - Business Combinations, Acquisitions and Fair Value of Net Assets Acquired and Intangibles (Details)								3 Months Ended	12 Months Ended
	Jul. 01, 2024 USD ($)	May 09, 2024 USD ($)	May 08, 2024 USD ($)	Apr. 03, 2024 USD ($)	Aug. 02, 2023 USD ($)	Apr. 06, 2023 USD ($)	Jan. 03, 2023 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) segment	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Aug. 19, 2024	May 14, 2024	Mar. 11, 2024	Aug. 31, 2023	Aug. 01, 2023	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Conversion ratio									1
Number of operating segments \| segment								2	2
Goodwill									$ 377,842,000	$ 411,634,000						$ 530,547,000
Impairment									(44,900,000)	0
Earn-out liabilities, at fair value									64,639,000	63,444,000
Goodwill, period increase (decrease)									(33,792,000)	(118,913,000)
Alvarium Investment Managers (Suisse) SA (“AIMS”)
Business Acquisition [Line Items]
Equity method investment, ownership percentage (in percent)															30.00%
Wealth & Capital Solutions
Business Acquisition [Line Items]
Goodwill									377,842,000	321,154,000
Goodwill, period increase (decrease)									56,688,000
International Real Estate
Business Acquisition [Line Items]
Goodwill									0	90,480,000						$ 232,429,000
Goodwill, period increase (decrease)									(90,480,000)	(141,949,000)
Class A Common Stock
Business Acquisition [Line Items]
Conversion ratio							1				1	1	1	1
Umbrella
Business Acquisition [Line Items]
Voting interest acquired (in percent)							51.00%
TWMH, TIG, and Alvarium \| Umbrella
Business Acquisition [Line Items]
Voting interest acquired (in percent)							100.00%
Alvarium, TWMH And TIG
Business Acquisition [Line Items]
Acquisition-related costs										17,800,000
Debt issuance costs										4,600,000
Total purchase consideration transferred							$ 1,071,116,000
Earn-out consideration							85,097,000
Goodwill							$ 530,546,000
Useful life (in years)							23 years
Impairment								$ (44,900,000)
Earn-out liabilities, at fair value									23,800,000	62,400,000
Cash consideration							$ 99,999,000
Alvarium, TWMH And TIG \| Customer relationships
Business Acquisition [Line Items]
Useful life (in years)							27 years 1 month 6 days
Alvarium, TWMH And TIG \| Wealth & Capital Solutions
Business Acquisition [Line Items]
Goodwill									377,800,000
Alvarium, TWMH And TIG \| International Real Estate
Business Acquisition [Line Items]
Goodwill									0.0
Alvarium, TWMH And TIG \| Long-term debt
Business Acquisition [Line Items]
Debt issuance costs										1,800,000
Alvarium, TWMH And TIG \| Other assets
Business Acquisition [Line Items]
Debt issuance costs										2,800,000
Alvarium, TWMH And TIG \| Class B Common Stock \| CGC Sponsor LLC \| The Founder Shares
Business Acquisition [Line Items]
Business combination, shares purchased (in shares) \| shares							8,625,000
Consideration received							$ 25,000
Sale of stock, price per share (in dollars per share) \| $ / shares							$ 0.03
Share price (in dollars per share) \| $ / shares							$ 10.33
Conversion of stock upon closing, expense							$ 89,100,000
AlTi Wealth Management (Singapore) Pte Limited (“ALWP”)
Business Acquisition [Line Items]
Acquisition-related costs										400,000
Total purchase consideration transferred						$ 15,500,000
Goodwill						$ 3,836,000
Useful life (in years)						10 years
Earn-out liabilities, at fair value						$ 0
AlTi Wealth Management (Switzerland) SA (“AWMS”)
Business Acquisition [Line Items]
Voting interest acquired (in percent)					70.00%
Acquisition-related costs					$ 10,000.00
Total purchase consideration transferred					16,754,000
Earn-out consideration					2,721,000
Goodwill					$ 15,146,000
Equity interest (in percent)															30.00%	30.00%
Equity interest, including subsequent acquisition (in percent)					100.00%
Fair value of existing equity method investment					$ 7,400,000
Remeasurement gain					1,900,000
Earn-out liabilities, at fair value									0	$ 1,100,000
Cash consideration					$ 5,711,000
AlTi Wealth Management (Switzerland) SA (“AWMS”) \| Customer relationships
Business Acquisition [Line Items]
Useful life (in years)					14 years
East End Advisors, LLC ("EEA")
Business Acquisition [Line Items]
Acquisition-related costs				$ 1,300,000
Total purchase consideration transferred				93,114,000
Goodwill				30,094,000
Earn-out liabilities, at fair value				23,300,000					29,900,000
Intangible assets, period increase (decrease)								$ (4,600,000)
Cash consideration				$ 69,013,000
East End Advisors, LLC ("EEA") \| Customer relationships
Business Acquisition [Line Items]
Useful life (in years)				17 years
Pointwise Partners Limited ("PW")
Business Acquisition [Line Items]
Voting interest acquired (in percent)		50.00%
Total purchase consideration transferred		$ 7,954,000
Goodwill		$ 6,747,000
Equity interest (in percent)			50.00%
Equity interest, including subsequent acquisition (in percent)		100.00%
Fair value of existing equity method investment			$ 6,200,000
Remeasurement gain									4,500,000
Cash consideration		$ 1,735,000
Pointwise Partners Limited ("PW") \| Customer relationships
Business Acquisition [Line Items]
Useful life (in years)		14 years
Envoi, LLC (“Envoi”)
Business Acquisition [Line Items]
Acquisition-related costs	$ 1,100,000
Total purchase consideration transferred	34,258,000
Earn-out consideration	9,000,000
Goodwill	10,824,000
Earn-out liabilities, at fair value	9,000,000.0
Cash consideration	$ 25,258,000
Goodwill, period increase (decrease)									$ (1,000,000)
Envoi, LLC (“Envoi”) \| Customer relationships
Business Acquisition [Line Items]
Useful life (in years)	15 years

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

For the Year Ended

December 31, 2024

December 31, 2023

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

—

Series C Preferred Stock (3)

Two-class method

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

—

Allianz Tranche Right (4)

Excluded

If-converted method

—

Warrants (5)

—

Excluded

Treasury stock method

Allianz and Constellation Warrants(6)

Excluded

Treasury stock method

—

Earn-Out Shares(7)

Excluded

Treasury stock method

Excluded

Treasury stock method

PW Deferred Consideration Shares(8)

Excluded

Treasury stock method

—

Acquisition-Related Awards(9)

Excluded

Treasury stock method

Excluded

Treasury stock method

Unvested RSUs

Excluded

Treasury stock method

Excluded

Treasury stock method

Unvested PRSUs (10)

Excluded

Treasury stock method

—


	For the Year Ended
(Dollars in Thousands, except share data)		December 31, 2024		December 31, 2023
Net income (loss) attributable to controlling interest - basic and diluted		$	(126,549)	$	(165,584)
Net income (loss) available to the Company - diluted		$	(126,549)	$	(165,584)
Weighted-average shares of Class A Common Stock outstanding - basic		79,692,659		61,396,692
Weighted-average shares of Class A Common Stock outstanding - diluted		79,692,659		61,396,692
Income (loss) per Class A Common Stock - basic		$	(1.59)	$	(2.70)
Income (loss) per Class A Common Stock - diluted		$	(1.59)	$	(2.70)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	For the Year Ended
		December 31, 2024	December 31, 2023
Class B Common Stock and Class B Units		48,352,620	40,668,662
Warrants		—	4,992,813
Allianz and Constellation Warrants		7,000,000	—
Earn-Outs		12,583,106	10,396,318
Pointwise Deferred Consideration Shares		829,657	—
Acquisition-Related Awards		1,680,085	—
Stock Awards		3,245,446	3,432,030

Summary of Significant Accounting Policies - Segment Reporting (Details) - segment	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Accounting Policies [Abstract]
Number of operating segments	2	2

Summary of Significant Accounting Policies - Delayed Share Purchase Agreement (Details) - USD ($) $ in Thousands		8 Months Ended
	Jul. 27, 2023	Mar. 25, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Delayed share purchase agreement			$ 0	$ 1,818
Accrued compensation and profit sharing
Business Acquisition [Line Items]
Delayed share purchase agreement				300
Additional paid-in-capital
Business Acquisition [Line Items]
Delayed share purchase agreement				$ 1,200
Tiedemann International Holdings, AG ("TIH") \| Tiedemann Wealth Management Holdings, LLC
Business Acquisition [Line Items]
Voting interest acquired (in percent)					51.10%
Cash consideration	$ 2,200	$ 2,100
Tiedemann International Holdings, AG ("TIH") \| Tiedemann Wealth Management Holdings, LLC \| Class A Common Stock
Business Acquisition [Line Items]
Equity consideration		$ 1,200

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2024

Postemployment Benefits [Abstract]

Schedule of Costs of Retirement Plans

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


(Dollars in Thousands)	For the Year Ended
		December 31, 2024		December 31, 2023		December 31, 2022 (Predecessor)
Plan Contributions		$	3,357	$	3,454	$	738

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current income tax expense (benefit)
U.S. federal	$ 613	$ 803	$ 320
State and local	1,230	170	224
Foreign	1,079	880	84
Current income tax expense (benefit)	2,922	1,853	628
Deferred income tax expense (benefit)
U.S. federal	(10,178)	(173)	(64)
State and local	(10,111)	(863)	(31)
Foreign	(3,766)	(11,351)	(6)
Deferred income tax expense (benefit)	(24,055)	(12,387)	(101)
U.S. federal	(9,565)	630	256
State and local	(8,881)	(693)	193
Foreign	(2,687)	(10,471)	78
Total income tax expense (benefit)	$ (21,133)	$ (10,534)	$ 527

Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


	As of December 31, 2024
	Level 1		Level 2		Level 3
(Dollars in Thousands)	Quoted Prices		Observable Inputs		Unobservable Inputs		Total
Assets:
Mutual funds	$	105	$	—	$	—	$	105
Exchange-traded funds and BDC funds	118		—		—		118
Investments – External Strategic Managers (1)	—		—		147,568		147,568
Investments – Affiliated Funds (2)	—		—		—		883
Contingent consideration receivable	—		—		1,389		1,389
Total	$	223	$	—	$	148,957	$	150,063

Liabilities:

Preferred stock tranche liability	$	—	$	—	$	3,940	$	3,940
Earn-out liabilities	—		—		64,639		64,639

TRA liability (3)	—		—		9,378		9,378

Earn-in consideration payable	932		—		—		932
Total	$	932	$	—	$	77,957	$	78,889

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


	As of December 31, 2023
	Level 1		Level 2		Level 3
(Dollars in Thousands)	Quoted Prices		Observable Inputs		Unobservable Inputs		Total
Assets:
Mutual funds	$	75	$	—	$	—	$	75
Exchange-traded funds	108		—		—		108
Investments – External Strategic Managers	7		—		164,077		164,084
Investments – Affiliated Funds (1)	—		—		—		1,627

Total	$	190	$	—	$	164,077	$	165,894

Liabilities:

Earn-out liabilities	$	—	$	—	$	63,444	$	63,444
TRA liability (2)	—		—		13,233		13,233
Earn-in consideration payable	1,830		—		—		1,830

Total	$	1,830	$	—	$	76,677	$	78,507

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

Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table sets forth a summary of changes in the fair value of Level 3 measurements as of December 31, 2024 and December 31, 2023:


	Level 3 Liabilities as of December 31, 2024
(Dollars in Thousands)	TRA liability		Earn-out liability		AWMS earn-out liability		EEA earn-out liability		Envoi earn-out consideration liability		Envoi earn-out growth consideration liability		Preferred stock tranche liability		Total
Beginning balance	$	13,233	$	62,380	$	1,064	$	—	$	—	$	—	$	—	$	76,677
Issuances	—		—		—		23,308		7,980		1,020		4,540		36,848
Settlements	—		—		—		—		—		—		—		—
Net (gains) losses	(3,855)		(38,532)		39		6,563		1,620		300		(600)		(34,465)
Transfers out of Level 3	$	—	$	—	(1,103)		—		—		—		$	—	$	(1,103)
Ending balance	$	9,378	$	23,848	$	—	$	29,871	$	9,600	$	1,320	$	3,940	$	77,957


	Level 3 Liabilities as of December 31, 2023
(Dollars in Thousands)	TRA Liability		Earn-out Liability		AWMS earn-out liability		Earn-in consideration payable		Total
Beginning balance	$	13,000	$	91,761	$	—	$	1,519	$	106,280
Issuances	—		—		2,721		—		2,721
Settlements	—		—		—		—		—
Net (gains) losses	233		(29,381)		(1,657)		311		(30,494)
Transfers out of Level 3	$	—	$	—	—		$	(1,830)	$	(1,830)
Ending balance	$	13,233	$	62,380	$	1,064	$	—	$	76,677

Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation


	Level 3 Assets as of December 31, 2024
(Dollars in Thousands)	Investments – External Strategic Managers		Contingent Consideration Receivable		Total
Beginning balance	$	164,077	$	—	$	164,077
Realized and Unrealized Gains (Losses)	(16,509)		(546)		(17,055)
Purchases	—		1,935		1,935

Ending balance	$	147,568	$	1,389	$	148,957


	Level 3 Assets as of December 31, 2023
(Dollars in Thousands)	Investments – External Strategic Managers		Total
Beginning balance	$	146,130	$	146,130
Realized and Unrealized Gains (Losses)	$	2,580	$	2,580
Purchases	$	15,367	$	15,367

Ending balance	$	164,077	$	164,077

Schedule of Fair Value Measurement Inputs and Valuation Techniques


(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	$	147,568	Discounted Cash Flow	Discount rate	18.0% -33%		Lower
				Long-term growth rate	4.0	%	Higher
Contingent consideration receivable	$	1,389	Monte Carlo	Risk-free rate	4.2	%	Higher
				Volatility	26.5	%	Lower
				Credit spread	0.8	%	Lower
Level 3 Liabilities:
TRA liability	$	9,378	Monte Carlo	Volatility	55.0	%	Lower
				Correlation	22.5	%	Higher
				Cost of debt range	10.2% - 10.9%		Lower
				Equity risk premium	6.1% - 13.2%		Lower
Business Combination earn-out liability	$	23,848	Monte Carlo	Volatility	70.0	%	Higher
				Risk-free rate	4.3	%	Higher




EEA earn-out liability	$	29,871	Discounted Cash Flow	EBITDA Discount Rate	16.3	%	Lower
				Risk-free rate	4.3	%	Lower
				Credit spread	7.9	%	Lower
Envoi earn-out consideration liability	$	9,600	Discounted Cash Flow	Growth rate	10.9	%	Higher
				Revenue risk-adjusted discount rate	12.5	%	Lower
				Risk-free rate	4.2	%	Lower
				Credit spread	7.7	%	Lower
Envoi earn-out growth consideration liability	$	1,320	Monte Carlo	Metric volatility	33.0	%	Lower
				Risk-free rate	4.3	%	Lower
				Revenue discount rate	12.5	%	Lower
				Credit Risk Adjusted Discount Rate	11.9	%	Lower


Preferred stock tranche liability	$	3,940	Binomial lattice model	Volatility	50.0	%	Higher
				Probability of option exercise	50.0	%	Higher
				Risk-free rate	4.8	%	Lower
				Credit spread	7.9	%	Lower

Valuation Methodologies for Fair Value Measurements Categorized within Level 3 as of December 31, 2023


(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	$	164,077	Discounted Cash Flow	Discount rate	21.5% -29.0%		Lower
				Long-term growth rate	4.0	%	Higher
Level 3 Liabilities:
TRA liability	$	13,233	Monte Carlo	Volatility	40.0	%	Lower
				Correlation	20.0	%	Higher
				Cost of debt range	4.1% - 5.1%		Lower
				Equity risk premium	7.4% - 13.1%		Lower

Business Combination earn-out liability	$	62,380	Monte Carlo	Volatility	40.0	%	Higher
				Risk-free rate	3.9	%	Higher

AWMS earn-out liability	$	1,064	Monte Carlo	Revenue Volatility	14.0	%	Higher
				Risk-free rate	1.1	%	Higher
				Revenue Discount Rate	3.5	%	Lower
				Liability Discount Rate	5.6	%	Lower
				Deferred Payment Liability Discount Rate	5.3	%	Lower

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Equity-Based Compensation - Equity-Based Compensation Award Activity (Details) - RSUs - $ / shares			12 Months Ended
	Jun. 05, 2024	May 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Number of Awards
Restricted common stock awards outstanding at beginning of period (in shares)			4,797,464	0
Restricted common stock granted (in shares)	2,219,661	4,697,317	4,181,243	7,514,293
Restricted common stock forfeited (in shares)			(938,383)	(182,627)
Restricted common stock vested (in shares)			(1,823,811)	(2,534,202)
Restricted common stock awards outstanding at end of period (in shares)			6,216,513	4,797,464
Weighted Average Grant Date Fair Value
Restricted common stock awards outstanding at beginning of period (in dollars per share)			$ 4.64	$ 0
Restricted common stock granted (in dollars per share)			5.18	6.44
Restricted common stock forfeited (in dollars per share)			4.86	4.35
Restricted common stock vested (in dollars per share)			4.99	9.99
Restricted common stock awards outstanding at end of period (in dollars per share)	$ 4.78	$ 4.35	$ 4.86	$ 4.64

Equity (Details) - USD ($) $ in Millions	Jul. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Series C Redeemable Cumulative Convertible Preferred Stock, issued (in shares)		150,000
Additional paid-in-capital \| Constellation warrant
Class of Stock [Line Items]
Warrant liabilities, at fair value		$ 3.0
Additional paid-in-capital \| Allianz warrant
Class of Stock [Line Items]
Warrant liabilities, at fair value		$ 6.6
Class A Common Stock
Class of Stock [Line Items]
Common stock, issued (in shares)		93,686,980	65,110,875
Common stock, outstanding (in shares)		93,686,980	65,110,875
Common stock, shares, outstanding, subject to forfeiture (in shares)		754,968	754,968
Class A Common 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)	19,318,580.96
Class B Common Stock
Class of Stock [Line Items]
Common stock, issued (in shares)		46,138,876	53,219,713
Common stock, outstanding (in shares)		46,138,876	53,219,713
Series A Preferred Stock
Class of Stock [Line Items]
Series C Redeemable Cumulative Convertible Preferred Stock, issued (in shares)		140,000	0
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

Summary of Significant Accounting Policies - Fixed Assets (Details) - Property, plant and equipment, other types	Dec. 31, 2024
Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	1 year
Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	10 years

Fair Value Disclosures - Assets and Liabilities Measured At Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Investments at fair value	$ 148,674	$ 165,894
Contingent consideration receivable	1,389	0
Liabilities:
Preferred stock tranche liability	3,940	0
Earn-out liabilities	64,639	63,444
TRA liability	9,378	13,233
Earn-in consideration payable	932	1,830
Mutual funds
Assets:
Investments at fair value	105	75
Exchange-traded funds
Assets:
Investments at fair value	112	108
Fair value, recurring
Assets:
Contingent consideration receivable	1,389
Total	150,063	165,894
Liabilities:
Preferred stock tranche liability	3,940
Earn-out liabilities	64,639	63,444
TRA liability	9,378	13,233
Earn-in consideration payable	932	1,830
Total	78,889	78,507
Fair value, recurring \| Mutual funds
Assets:
Investments at fair value	105	75
Fair value, recurring \| Exchange Traded Funds And BDC Funds
Assets:
Investments at fair value	118
Fair value, recurring \| Exchange-traded funds
Assets:
Investments at fair value		108
Fair value, recurring \| Investments – External Strategic Managers
Assets:
Investments at fair value	147,568	164,084
Fair value, recurring \| Investments – Affiliated Funds
Assets:
Investments at fair value	$ 883	$ 1,627
Liabilities:
Redemption, required notice (in days)	30 days	30 days
Level 1 \| Fair value, recurring
Assets:
Contingent consideration receivable	$ 0
Total	223	$ 190
Liabilities:
Preferred stock tranche liability	0
Earn-out liabilities	0	0
TRA liability	0	0
Earn-in consideration payable	932	1,830
Total	932	1,830
Level 1 \| Fair value, recurring \| Mutual funds
Assets:
Investments at fair value	105	75
Level 1 \| Fair value, recurring \| Exchange Traded Funds And BDC Funds
Assets:
Investments at fair value	118
Level 1 \| Fair value, recurring \| Exchange-traded funds
Assets:
Investments at fair value		108
Level 1 \| Fair value, recurring \| Investments – External Strategic Managers
Assets:
Investments at fair value	0	7
Level 1 \| Fair value, recurring \| Investments – Affiliated Funds
Assets:
Investments at fair value	0	0
Level 2 \| Fair value, recurring
Assets:
Contingent consideration receivable	0
Total	0	0
Liabilities:
Preferred stock tranche liability	0
Earn-out liabilities	0	0
TRA liability	0	0
Earn-in consideration payable	0	0
Total	0	0
Level 2 \| Fair value, recurring \| Mutual funds
Assets:
Investments at fair value	0	0
Level 2 \| Fair value, recurring \| Exchange Traded Funds And BDC Funds
Assets:
Investments at fair value	0
Level 2 \| Fair value, recurring \| Exchange-traded funds
Assets:
Investments at fair value		0
Level 2 \| Fair value, recurring \| Investments – External Strategic Managers
Assets:
Investments at fair value	0	0
Level 2 \| Fair value, recurring \| Investments – Affiliated Funds
Assets:
Investments at fair value	0	0
Level 3
Assets:
Contingent consideration receivable	1,389
Liabilities:
Preferred stock tranche liability	3,940
TRA liability	9,378	13,233
Level 3 \| Investments – External Strategic Managers
Assets:
Investments at fair value	147,568	164,077
Level 3 \| Fair value, recurring
Assets:
Contingent consideration receivable	1,389
Total	148,957	164,077
Liabilities:
Preferred stock tranche liability	3,940
Earn-out liabilities	64,639	63,444
TRA liability	9,378	13,233
Earn-in consideration payable	0	0
Total	77,957	76,677
Level 3 \| Fair value, recurring \| Mutual funds
Assets:
Investments at fair value	0	0
Level 3 \| Fair value, recurring \| Exchange Traded Funds And BDC Funds
Assets:
Investments at fair value	0
Level 3 \| Fair value, recurring \| Exchange-traded funds
Assets:
Investments at fair value		0
Level 3 \| Fair value, recurring \| Investments – External Strategic Managers
Assets:
Investments at fair value	147,568	164,077
Level 3 \| Fair value, recurring \| Investments – Affiliated Funds
Assets:
Investments at fair value	$ 0	$ 0

Fair Value Disclosures - Changes In Fair Value of Level 3 Measurements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 76,677	$ 106,280
Issuances	36,848	2,721
Settlements	0	0
Net (gains) losses	(34,465)	(30,494)
Transfers out of Level 3	(1,103)	(1,830)
Ending balance	77,957	76,677
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	164,077	146,130
Realized and Unrealized Gains (Losses)	$ (17,055)	$ 2,580
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	Other loss attributed to non-controlling interests in subsidiaries
Purchases	$ 1,935	$ 15,367
Ending balance	148,957	164,077
TRA liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	13,233	13,000
Issuances	0	0
Settlements	0	0
Net (gains) losses	(3,855)	233
Transfers out of Level 3	0	0
Ending balance	9,378	13,233
Earn-out liability \| Alvarium, TWMH And TIG
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	62,380	91,761
Issuances	0	0
Settlements	0	0
Net (gains) losses	(38,532)	(29,381)
Transfers out of Level 3	0	0
Ending balance	23,848	62,380
Earn-out liability \| AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,064	0
Issuances	0	2,721
Settlements	0	0
Net (gains) losses	39	(1,657)
Transfers out of Level 3	(1,103)	0
Ending balance	0	1,064
Earn-out liability \| East End Advisors, LLC ("EEA")
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0
Issuances	23,308
Settlements	0
Net (gains) losses	6,563
Transfers out of Level 3	0
Ending balance	29,871	0
Envoi earn-out consideration liability \| Envoi, LLC (“Envoi”)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0
Issuances	7,980
Settlements	0
Net (gains) losses	1,620
Transfers out of Level 3	0
Ending balance	9,600	0
Envoi earn-out growth consideration liability \| Envoi, LLC (“Envoi”)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0
Issuances	1,020
Settlements	0
Net (gains) losses	300
Transfers out of Level 3	0
Ending balance	1,320	0
Preferred stock tranche liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0
Issuances	4,540
Settlements	0
Net (gains) losses	(600)
Transfers out of Level 3	0
Ending balance	3,940	0
Earn-in consideration payable
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	1,519
Issuances		0
Settlements		0
Net (gains) losses		311
Transfers out of Level 3		(1,830)
Ending balance		0
Investments – External Strategic Managers
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	164,077	146,130
Realized and Unrealized Gains (Losses)	(16,509)	2,580
Purchases	0	15,367
Ending balance	147,568	164,077
Contingent Consideration Receivable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0
Realized and Unrealized Gains (Losses)	(546)
Purchases	1,935
Ending balance	$ 1,389	$ 0

Leases - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease expense	$ 12,680	$ 8,782	$ 2,974
Variable lease expense	2,709	3,165	1,353
Short-term lease expense	256	750	144
Total lease expense	$ 15,645	$ 12,697	$ 4,471

Investments - Cost and Fair Value of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	$ 162,499	$ 163,157
Investment at Fair Value, Fair Value	148,674	165,894
Equity method investments, Cost	27,517	14,194
Equity method investments, Fair Value	27,517	14,194
Total Investments, Cost	190,016	177,351
Total Investments, Fair Value	176,191	180,088
Mutual funds
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	122	93
Investment at Fair Value, Fair Value	105	75
Exchange-traded funds
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	101	105
Investment at Fair Value, Fair Value	112	108
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	515	500
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	229	231
TIG Arbitrage Enhanced
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	0	682
Investment at Fair Value, Fair Value	0	776
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	139	119
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	21,181	24,822
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	80,127	69,454
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	46,260	69,802
Other
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	6	7
Investment at Fair Value, Fair Value	6	7
Real estate equity method investments
Schedule of Held-to-Maturity Securities [Line Items]
Equity method investments, Cost	5,863	9,311
Equity method investments, Fair Value	5,863	9,311
Wealth management - investment advisory
Schedule of Held-to-Maturity Securities [Line Items]
Equity method investments, Cost	20,404	2,505
Equity method investments, Fair Value	20,404	2,505
Carried interest vehicles
Schedule of Held-to-Maturity Securities [Line Items]
Equity method investments, Cost	1,250	2,378
Equity method investments, Fair Value	$ 1,250	$ 2,378

Description of the Business - Shares Issued and Outstanding (Details) - shares	Dec. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Preferred stock, issued (in shares)	150,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, issued (in shares)	93,686,980	65,110,875
Common stock, outstanding (in shares)	93,686,980	65,110,875
Class B Common Stock
Class of Stock [Line Items]
Common stock, issued (in shares)	46,138,876	53,219,713
Common stock, outstanding (in shares)	46,138,876	53,219,713
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, issued (in shares)	140,000	0
Preferred stock, outstanding (in shares)	140,000	0
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock, issued (in shares)	150,000	0
Preferred stock, outstanding (in shares)	150,000	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

+ Details

Summary of Significant Accounting Policies - Revenue Recognition (Details)	12 Months Ended
	Dec. 31, 2024
Minimum
Disaggregation of Revenue [Line Items]
Percentage of equity value contributed in transaction	0.50%
Percentage of purchase price in acquisition	0.50%
Equity structures, term (in years)	5 years
Equity structures, percentage of equity value committed or drawn	0.50%
Debt structures, term (in months)	12 months
Maximum
Disaggregation of Revenue [Line Items]
Percentage of equity value contributed in transaction	1.00%
Percentage of purchase price in acquisition	1.00%
Equity structures, term (in years)	10 years
Equity structures, percentage of equity value committed or drawn	1.75%
Debt structures, term (in months)	36 months

- 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 (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Debt Obligations

The following table summarizes outstanding debt obligations of the Company as of December 31, 2024 and December 31, 2023:


	As of December 31, 2024						As of December 31, 2023
(Dollars in Thousands)	Debt Outstanding		Net Carrying Value (1)		Fair Value (2)		Debt Outstanding		Net Carrying Value(1)		Fair Value (2)
Credit Agreement
Term Loans	$	—	$	—	$	—	$	95,000	$	92,603	$	95,000
Revolving Credit Facility	—		—		—		93,750		93,750		93,750

Total Debt	$	—	$	—	$	—	$	188,750	$	186,353	$	188,750

(1) Represents debt outstanding net of unamortized debt issuance costs.

(2) The fair value of the Term Loans and Revolving Credit Facility approximates carrying value as of December 31, 2024 and December 31, 2023. The fair value is categorized as Level 3 under ASC 820.

- 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

+ Details

Equity-Based Compensation - Equity-Based Compensation Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 26,287	$ 46,174	$ 3,716
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	10,554	36,779	0
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	3,241	0	0
Acquisition-related
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	6,891	6,968	3,716
TIH SPA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	0	1,178	0
Revenue share
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	1,077	1,249	0
Deferred compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 4,523	$ 0	$ 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 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: 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 3: 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 4: 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 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-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 6: 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
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: 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 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-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 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
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-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 (c)(1)(iv)(04)
-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)(2)(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
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-Subparagraph (c)(2)(ii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Paragraph 2
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (c)(2)(iii)(03)
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-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 (d)(1)
-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 (d)(2)
-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 (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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

+ Details

Equity	12 Months Ended
Equity	Dec. 31, 2024
Equity [Abstract]
Equity	Equity Class A Common Stock As of December 31, 2024 and December 31, 2023, there were 93,686,980 and 65,110,875, 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 December 31, 2024 and December 31, 2023. 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 December 31, 2024 and December 31, 2023, there were 46,138,876 and 53,219,713, respectively, shares of Class B Common Stock outstanding. 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 Consolidated Statement of Financial Position as they are not mandatorily redeemable as of December 31, 2024. 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 Consolidated Statement of Financial Position as they are not mandatorily redeemable as of December 31, 2024. 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 December 31, 2024, the Constellation and Allianz Warrants of $3.0 million and $6.6 million, respectively, are recorded as a component of equity net of issuance costs in the line item Additional paid-in capital on the Company’s Consolidated Statement of Financial Position.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-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 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Summary of Significant Accounting Policies - Goodwill (Details) - segment	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Accounting Policies [Abstract]
Number of operating segments	2	2

Consolidated Statement of Changes in Mezzanine Equity and Shareholders’ Equity - USD ($) $ in Thousands	Total	Family Office Service ("FOS")	LXi Reit Advisors Limited (“LRA”)	Alvarium Home REIT Advisors Ltd ("AHRA")	Additional paid-in-capital	Additional paid-in-capital Alvarium Home REIT Advisors Ltd ("AHRA")	Retained earnings (accumulated deficit)	Member Capital	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) Family Office Service ("FOS")	Accumulated other comprehensive income (loss) LXi Reit Advisors Limited (“LRA”)	Non-controlling interest in subsidiaries	Non-controlling interest in subsidiaries Family Office Service ("FOS")	Non-controlling interest in subsidiaries LXi Reit Advisors Limited (“LRA”)	Non-controlling interest in subsidiaries Alvarium Home REIT Advisors Ltd ("AHRA")	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
Shareholders’ Equity
Net income (loss)	$ (5,998)							$ (5,885)				$ (113)							$ (1)		$ (5,884)
Other comprehensive income	0
Ending balance (in shares) at Dec. 31, 2022																			55,388,023		55,032,961
Ending balance at Dec. 31, 2022	1,013,653				$ 434,620		$ (27,946)		$ 0			606,973							$ 6		$ 0
Beginning balance at Dec. 31, 2021	40,021							39,588	0			433							6		39,582
Increase (Decrease) in Partners' Capital [Roll Forward]
Member capital distributions	(11,114)							(11,114)											(1)		(11,113)
Member tax distributions	(6,344)							(6,344)											(1)		(6,343)
Reallocation of book capital as a result of member transactions	2,365							2,365													2,365
Net income (loss) for the year	(5,998)							(5,885)				(113)							(1)		(5,884)
Other comprehensive income (loss) for the year	(1,077)								(1,077)
Ending balance at Dec. 31, 2022	17,853							$ 18,610	(1,077)			320							$ 3		$ 18,607
Ending balance (in shares) at Dec. 31, 2023																0	0
Ending balance at Dec. 31, 2023																$ 0	$ 0
Shareholders’ Equity
Issuance of shares to Alvarium Employee Benefit Trust (in shares)																			2,100,000
Issuance of shares to Alvarium Employee Benefit Trust	21,000				21,000
Net income (loss)	(311,215)						(165,584)					(145,631)
Currency translation adjustment	20,916						3		9,575			11,338
Cancellation of AHRA call option				$ 154											$ 154
Other comprehensive income	(764)								(420)			(344)
Payment for partner’s tax	(998)				(998)
Deconsolidation				0		$ 28,768									(28,768)
Measurement period adjustment				$ (753)		$ (635)									$ (118)
Share based compensation	7,937				7,937
Issuance of shares for business combination (in shares)																			339,967
Issuance of shares for business combination	2,058				2,058
TRA Exchange (in shares)																			1,813,248		(1,813,248)
TRA Exchange	1,025				14,280							(13,255)
Issuance of shares - exercise of warrants (in shares)																			5,469,637
Issuance of shares - exercise of warrants	29,480				29,479														$ 1
Ending balance (in shares) at Dec. 31, 2023																		65,110,875	65,110,875	53,219,713	53,219,713
Ending balance at Dec. 31, 2023	782,493				536,509		(193,527)		9,155			430,349							$ 7		$ 0
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss) for the year	(311,215)						(165,584)					(145,631)
Issuance of preferred shares (in shares)																140,000	150,000
Issuance of preferred stock, net of issuance costs	280,150															$ 137,460	$ 142,690
Preferred share accrued dividend																$ 5,398	$ 18,118
Ending balance (in shares) at Dec. 31, 2024																140,000	150,000
Ending balance at Dec. 31, 2024																$ 142,858	$ 160,808
Shareholders’ Equity
Net income (loss)	(174,305)						(103,034)					(71,271)
Currency translation adjustment	(14,760)								(9,676)			(5,084)
Other comprehensive income	119								80			39
Payment for partner’s tax	(3,271)				(3,271)
Deconsolidation		$ (510)	$ (1,369)							$ (306)	$ (822)		$ (204)	$ (547)
Preferred share accrued dividend					(23,514)
Preferred share accrued dividend, including adjustments	2
Share based compensation	17,454				17,454
Issuance of shares for business combination	1,025				1,025
Shares issued to employees on vesting of equity awards (in shares)																			2,176,687
Shares issued to employees on vesting of equity awards	(4,037)				(4,037)
Class A Common Stock issued to Allianz, net of issuance costs (in shares)																			19,318,581
Class A Common Stock issued to Allianz, net of issuance costs	90,424				90,422														$ 2
Issuance of Allianz and Constellation Warrants	9,594				9,594
TRA Exchange (in shares)																			7,080,837		(7,080,837)
TRA Exchange	(12,814)				28,675							(41,489)
Ending balance (in shares) at Dec. 31, 2024																		93,686,980	93,686,980	46,138,876	46,138,876
Ending balance at Dec. 31, 2024	970,195				$ 652,857		(296,561)		$ (1,569)			311,793							$ 9		$ 0
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss) for the year	$ (174,305)						$ (103,034)					$ (71,271)

Intangible Assets, net - Estimated Future Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2025	$ 15,300
2026	15,300
2027	15,300
2028	15,100
2029 and beyond	207,563
Net Carrying Amount	$ 268,563	$ 189,777

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Related Party Transactions

Related party transactions include the below:


(Dollars in Thousands)
Related Party Receivables	Consolidated Balance Sheet Line Item	As of December 31, 2024		As of December 31, 2023
Due from Certain TWMH Members, TIG GP Members and TIG MGMT Members	Other assets	$	435	$	712
Due from Equity Method Investees	Other assets	$	3,089	$	5,948
Due from Alvarium related fee arrangements	Fees receivable, net	$	116	$	247
Due from TIG related fee arrangements	Fees receivable, net	$	804	$	15,822

Related Party Investments
Equity method investment with Allianz	Equity method investments	$	20,300	$	—

Related Party Payables
Due to Certain TWMH Members, TIG GP Members and TIG MGMT Members	Other Liabilities	$	—	$	—
Due to Certain Non-Controlling Interest Holders in Connection with the Tax Receivable Agreements	TRA liability	$	(28,765)	$	(17,607)
Delayed share purchase agreement	Delayed share purchase agreement	$	—	$	(1,818)
Delayed share purchase agreement	Accrued compensation and profit sharing	$	—	$	(282)
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	$	(23,848)	$	(62,380)
AWMS earn-out liability	Earn-out liabilities, at fair value	$	—	$	(1,064)
AWMS deferred cash contribution	Other liabilities	$	—	$	(7,135)
Due to Equity Method Investees	Other liabilities	$	(223)	$	(1,277)
EEA earn-out liability	Earn-out liabilities, at fair value	$	(29,871)	$	—
PW deferred consideration	Other liabilities	$	(3,339)	$	—
Envoi earn-out consideration liability	Earn-out liabilities, at fair value	$	(9,600)	$	—
Envoi earn-out growth consideration liability	Earn-out liabilities, at fair value	$	(1,320)	$	—
Preferred stock tranche liability	Preferred stock tranche liability	$	(3,940)	$	—

Mezzanine Equity
Series A Preferred Stock	Series A Redeemable Cumulative Convertible Preferred Stock	$	142,858	$	—
Series C Preferred Stock	Series C Redeemable Cumulative Convertible Preferred Stock	$	160,808	$	—

Shareholders’ Equity
Delayed share purchase agreement	Additional paid-in capital	$	40	$	(1,178)
Allianz Warrants, net of issuance costs	Additional paid-in capital	$	6,591	$	—
Constellation Warrants, net of issuance costs	Additional paid-in capital	$	3,003	$	—


(Dollars in Thousands)	For the Year Ended
		December 31, 2024		December 31, 2023
Management/advisory fees		$	(357)	$	700

Compensation and employee benefits		$	—	$	(1,800)
Other income/fees		$	2,219	$	(2,400)
Interest income		$	(31)	$	200

Debt, net of unamortized deferred financing cost - Narrative (Details) - USD ($)					12 Months Ended
	Dec. 19, 2024	Jul. 31, 2024	Feb. 22, 2024	Jan. 03, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Nov. 10, 2023	Jun. 07, 2023
Debt Instrument [Line Items]
Repayments of debt					$ 221,062,000		$ 160,453,000	$ 2,810,000
Debt, net of unamortized deferred financing cost					0	$ 186,353,000	186,353,000
Number of securities called by warrants or rights (in shares)										19,892,387
Preferred stock tranche liability, at fair value					3,940,000	0	0
Gain (loss) on preferred stock tranche liability					600,000	0		$ 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)		$ 1,000
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)			50,000
Preferred stock, dividend rate, per-dollar amount (in dollars per share)			$ 1,000
Alvarium, TWMH And TIG
Debt Instrument [Line Items]
Repayments of debt				$ 124,400,000
Line of credit
Debt Instrument [Line Items]
Repayments of debt	$ 133,400,000
Write-off of deferred issuance costs	$ 4,500,000
Debt, net of unamortized deferred financing cost					0	186,353,000	186,353,000
Credit facility \| Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity				250,000,000.0
Credit facility \| Line of credit \| Term Loans
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 100,000,000.0
Debt, net of unamortized deferred financing cost					0	92,603,000	92,603,000
Debt instrument, increase in basis spread on variable rate (in percent)			0.50%
Line of credit facility, commitment fee amount			$ 40,000,000
Credit facility \| Line of credit \| Term Loans \| Minimum \| Base rate
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)				1.00%
Credit facility \| Line of credit \| Term Loans \| Minimum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)				2.00%
Credit facility \| Line of credit \| Term Loans \| Maximum \| Base rate
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)				2.00%
Credit facility \| Line of credit \| Term Loans \| Maximum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)				3.00%
Credit facility \| Line of credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 150,000,000.0					$ 110,000,000
Accordion option, additional borrowing capacity				75,000,000.0
Accordion feature, maximum borrowing capacity				$ 225,000,000.0
Unfunded commitment					0.0	$ 16,300,000	$ 16,300,000
Weighted average interest rate (in percent)						9.00%	9.00%
Debt, net of unamortized deferred financing cost					$ 0	$ 93,750,000	$ 93,750,000
Reduced credit facility amount									$ 50,000,000

Segment Reporting - Assets By Geography And Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	$ 52,889	$ 50,844
Long-lived Assets	1,255,833	1,266,297
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	44,275	41,603
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	4,721	5,434
Rest of World
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	3,893	3,807
Wealth & Capital Solutions
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived Assets	1,160,272	1,134,264
International Real Estate
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived Assets	23,738	125,229
Corporate
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived Assets	$ 71,823	$ 6,804

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

+ Details