Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses and Other Liabilities

v3.21.2
Accrued Expenses and Other Liabilities
 9 Months Ended
Sep. 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:
September 30, December 31,
  2021 2020
(in thousands)
Accrued investment manager fees $ 88,963  $ 57,894 
Accrued compensation and related taxes 80,549  71,039 
Accrued professional services 8,453  9,240 
Accrued technology 7,032  4,701 
Non-income tax payables 4,615  8,398 
Accrued purchase consideration 4,008  — 
Other accrued expenses 6,586  7,276 
Total accrued expenses and other liabilities $ 200,206  $ 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 a net credit of $0.1 million of severance expense in the three months ended September 30, 2021. Total severance expense related to this program for the nine months ended September 30, 2021 was $5.1 million. The Company has approximately $1.6 million and $5.1 million in accrued compensation and related taxes associated with these separation agreements as of September 30, 2021 and December 31, 2020, respectively.