Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses and Other Liabilities

v3.21.2
Accrued Expenses and Other Liabilities
 6 Months Ended
Jun. 30, 2021
Payables and Accruals [Abstract]  
Accrued Expenses and Other Liabilities Accrued Expenses and Other Liabilities
 
Accrued expenses and other liabilities consisted of the following:
June 30, December 31,
  2021 2020
(in thousands)
Accrued investment manager fees $ 79,007  $ 57,894 
Accrued compensation and related taxes 63,938  71,039 
Accrued professional services 8,039  9,240 
Non-income tax payables 7,632  8,398 
Accrued technology 5,435  4,701 
Accrued purchase consideration 3,947  — 
Other accrued expenses 6,959  7,276 
Total accrued expenses and other liabilities $ 174,957  $ 158,548 

In the fourth quarter of 2020, as part of an organizational realignment, the Company entered into separation agreements with several employees. In connection with this realignment, the Company recognized $1.4 million and $5.2 million of severance expense in the three and six months ended June 30, 2021, respectively. The Company has approximately $2.7 million and $5.1 million in accrued compensation and related taxes associated with these separation agreements as of June 30, 2021 and December 31, 2020, respectively.