0001628280-24-046969 | 10-Q | XBRL Viewer

Investments

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

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 Condensed Consolidated Statement of Operations.

The Cost and Fair Value of Investments as of September 30, 2024 and December 31, 2023 are presented below:


	As of September 30, 2024				As of December 31, 2023
(Dollars in Thousands)	Cost		Fair Value		Cost		Fair Value
Investments at Fair Value:
Mutual funds	$	104	$	92	$	93	$	75
Exchange-traded funds	118		132		105		108
TIG Arbitrage Associates Master Fund	489		519		482		500
TIG Arbitrage Enhanced Master Fund	196		247		179		231
TIG Arbitrage Enhanced	—		—		682		776

Arkkan Opportunities Feeder Fund	111		133		111		119

Arkkan Capital Management Limited	20,062		28,043		20,062		24,822
Zebedee Asset Management	68,913		75,378		68,913		69,454
Romspen Investment Corporation (1)	72,523		63,577		72,523		69,802

Other	6		6		7		7

Total Investments at fair value	$	162,522	$	168,127	$	163,157	$	165,894

Equity method investments:
Real estate equity method investments	$	5,718	$	5,718	$	9,311	$	9,311
Wealth management - investment advisory	$	104	$	104	$	2,505	$	2,505
Carried interest vehicles	$	1,589	$	1,589	$	2,378	$	2,378
Total Equity method investments	7,411		7,411		14,194		14,194

Total	$	169,933	$	175,538	$	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 Condensed 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 Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Gains (Losses) on Investments at FV:
Realized gains (losses)	$	5	$	—	$	12	$	—
Unrealized gains (losses)	5,878		(189)		2,955		1,675
Total gains (losses) on Investments at fair value	$	5,883	$	(189)	$	2,967	$	1,675

Leases - Future Minimum Lease Payments (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Future Minimum Rental Operating Leases
Rest of 2024	$ 2,025
2025	9,501
2026	8,768
2027	8,204
2028	7,207
2029 and beyond	60,696
Total lease payments	96,401
Less: Imputed interest	30,786
Present value of lease liabilities	$ 65,615

Earnings Per Share

9 Months Ended

Sep. 30, 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 Three Months Ended

September 30, 2024

September 30, 2023

Basic

Diluted

Basic

Diluted

Class A Shares

Included

Class B Shares (1)

Excluded

If-converted method

Excluded

If-converted method

Series A Preferred Shares (2)

Two-class method

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

—

Series C Preferred Shares (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

None outstanding

Earn-Out Shares (6)

Excluded

Treasury stock method

Excluded

Unvested RSUs

Excluded

Treasury stock method

Excluded

Treasury stock method

Unvested PRSUs (7)

Excluded

Treasury stock method

—

Holbein Earn-In Shares (8)

Excluded

Treasury stock method

Excluded

Treasury stock method

For the Nine Months Ended

September 30, 2024

September 30, 2023

Basic

Diluted

Basic

Diluted

Class A Shares

Included

Class B Shares (1)

Excluded

If-converted method

Excluded

If-converted method

Series A Preferred Shares (2)

Two-class method

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

—

Series C Preferred Shares (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

Excluded

Treasury stock method

Earn-Out Shares(6)

Excluded

Treasury stock method

Excluded

Unvested RSUs

Excluded

Treasury stock method

Excluded

Treasury stock method

Unvested PRSUs (7)

Excluded

Treasury stock method

—

Holbein Earn-In Shares (8)

Excluded

Treasury stock method

Excluded

Treasury stock method

(1) The if-converted method for these instruments 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 Class A Shares as of the beginning of the period.

(2) On July 31, 2024, the Company issued Series A Preferred Shares and Warrants for Class A Shares. The Series A Preferred Shares are entitled to participate in dividends declared on common stock on an as-converted basis. This participation right requires application of the two-class method to calculate basic earnings per share. The two-class method requires income available to common stockholders for the period to be allocated between all participating instruments based upon their respective rights to receive dividends as if all income for the period had been distributed. Basic earnings per share is calculated using the proportion of net income available to be distributed to the common shareholders. Dilutive earnings per share is calculated using the more dilutive of the two-class method or the if-converted method.

(3) During the first quarter ended March 31, 2024, the Company issued Series C Preferred Shares and Warrants for Class A Shares. The Series C Preferred Shares are entitled to participate in dividends declared on common stock on an as-converted basis. This participation right requires application of the two-class method to calculate basic earnings per share. The two-class method requires income available to common stockholders for the period to be allocated between all participating instruments based upon their respective rights to receive dividends as if all income for the period had been distributed. Basic earnings per share is calculated using the proportion of net income available to be distributed to the common shareholders. Dilutive earnings per share is calculated using the more dilutive of the two-class method or the if-converted method.

(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 Shares at an aggregate purchase price of up to $50 million. Any additional Series A Preferred Shares 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. As of September 30, 2024, no shares under the Allianz Tranche Right had been issued.

(5) As mentioned in footnote 2 above, during the first quarter ended March 31, 2024, the Company issued Series C Preferred Shares and 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 liabilities and remeasured at fair value each period, application of the treasury stock method for calculation of diluted earnings per share includes reversing the income statement effect of the fair value remeasurement for the period.

(6) Earn-Out Shares are the portion of estimated contingent consideration related to our acquisitions 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.

(7) 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. See discussion of PRSUs in Note 5 (Equity-Based Compensation).

(8) During the third quarter ended September 30, 2023, the Company modified the Holbein Earn-In shares arrangement such that the settlement of the Earn-In shares would be in shares at each service period. As of September 30, 2024, the service periods related to the Holbein Earn-In shares had not been completed, and therefore such shares have not been included in the calculation of basic earnings (loss) per share for the three and nine months ended September 30, 2024 and September 30, 2023. However, 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 three and nine months ended September 30, 2024 and September 30, 2023. For the three and nine months ended September 30, 2024 and September 30, 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. The key terms of the Holbein Earn-Ins are discussed 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 Three Months Ended				For the Nine Months Ended
(Dollars in Thousands, except share data)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Net income (loss) attributable to controlling interest - basic and diluted	$	(76,053)	$	(89,671)	$	(63,340)	$	(115,671)
Net income (loss) available to the Company - diluted	$	(76,053)	$	(89,671)	$	(63,340)	$	(115,671)
Weighted-average shares of Class A Common Stock outstanding - basic	86,399,551		63,568,646		74,993,835		60,174,678
Weighted-average shares of Class A Common Stock outstanding - diluted	86,399,551		63,568,646		74,993,835		60,174,678
Income (loss) per Class A Common Stock - basic	$	(0.88)	$	(1.41)	$	(0.84)	$	(1.92)
Income (loss) per Class A Common Stock - diluted	$	(0.88)	$	(1.41)	$	(0.84)	$	(1.92)

The following potentially dilutive instruments were excluded from the calculation of diluted net loss per share because their effect would have been antidilutive:


	For the Three Months Ended		For the Nine Months Ended
	September 30, 2024	September 30, 2023	September 30, 2024	September 30, 2023
Class B Common Stock and Class B Units	—	54,421,975	—	36,484,979
Warrants	7,000,000	—	7,000,000	6,657,084
Earn-Outs	12,847,052	10,396,318	12,909,938	10,396,318
Stock Awards	3,098,308	4,594,486	2,887,249	3,067,192

Summary of Significant Accounting Policies - Fixed Assets (Details) - Property, plant and equipment, other types	Sep. 30, 2024
Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	2 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	7 years

Related Party Transactions - Tax Receivable Agreements (Details) $ / shares in Units, $ in Thousands					3 Months Ended		9 Months Ended
	Aug. 19, 2024 $ / shares shares	May 14, 2024 $ / shares shares	Mar. 11, 2024 $ / shares shares	Aug. 31, 2023 $ / shares shares	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Jan. 03, 2023
Related Party Transaction [Line Items]
TRA liability					$ 29,670		$ 29,670		$ 17,607
TRA liability, fair value					9,447		9,447		13,233
Tax receivable agreement liability, carrying value					20,200		20,200		$ 4,400
Gain (loss) on TRA					$ (2,536)	$ 761	$ 3,786	$ (1,331)
Conversion ratio					1		1
TRA, tax payments and cash distributions							$ 2,800
Class A Common Stock
Related Party Transaction [Line Items]
Conversion ratio	1	1	1	1						1
Share price (in dollars per share) \| $ / shares	$ 4.02	$ 4.69	$ 6.61	$ 7.31
Converted shares (in shares) \| shares	1,840,077	286,242	4,954,518	1,813,248
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%		85.00%
Tax receivable agreement, administering costs and expenses, percentage of obligation of company					15.00%		15.00%
TRA, administering costs and expenses, percentage of obligation by affiliated entity					85.00%		85.00%

Business Combinations and Divestitures - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 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	$ 379,845				$ 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				67,300
Goodwill				25,494
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		$ 22,300
Goodwill		11,824
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

Intangible Assets, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4.0	$ 3.2	$ 9.7	$ 10.8

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities
Net income (loss)	$ (98,619)	$ (234,928)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	11,001	11,848
Amortization of debt discounts and deferred financing costs	1,666	(4,106)
Unrealized (gain) loss on investments	(2,938)	3,275
Realized (gain) loss on investments	(10,719)	0
Impairment loss on goodwill and intangible assets	116,777	183,252
Fair value (gain) loss on TRA	(3,786)	1,331
(Income) loss on equity method investments	1,422	2,439
Fair value (gain) loss on warrant liability	(3,973)	12,866
Fair value (gain) loss on earnout liability	(41,922)	(46,212)
Fair value gain (loss) on preferred stock tranche liability	(1,140)	0
Deferred income tax (benefit) expense	(16,786)	(16,146)
Equity-settled share-based payments	13,892	35,090
Unrealized foreign currency (gains)/losses	17	444
(Gain) loss from retirement of debt	0	(73)
Fair value of interest rate swap	0	33
Cash flows due to changes in operating assets and liabilities
(Increase) decrease in fees receivable	38,509	7,132
(Increase) decrease in other assets	(9,008)	(4,110)
Operating cash flow from operating leases	3,514	838
Increase (decrease) in accounts payable and accrued expenses	(20,511)	(14,914)
Increase (decrease) in accrued compensation and profit sharing	(36,090)	(4,288)
Increase (decrease) in other liabilities	8,011	(14,718)
Other operating activities	(72)	(250)
Net cash provided by (used in) operating activities	(50,596)	(81,001)
Cash Flows from Investing Activities
Cash payment for acquisition of TWMH and TIG historical equity	0	(99,999)
Receipt of payments of notes receivable from members	285	226
Cash receipts from the repayment of advances and loans	0	305
Purchases of investments	(102)	(15,499)
Cash payment for delayed share purchase agreement	(1,818)	0
Payment of payout right	0	(760)
Acquisition of AIMS, net of cash acquired	0	(3,783)
Acquisition of ALWP, net of cash acquired	0	(14,430)
Acquisition of EEA	(69,182)	0
Acquisition of PW, net of cash acquired	(1,467)	0
Acquisition of Envoi	(25,258)	0
Sales of investments	818	1,818
Sale of fixed assets	144	8
Purchases of fixed assets	(5,772)	(269)
Net cash provided by (used in) investing activities	(53,467)	(132,383)
Cash Flows from Financing Activities
Proceeds from issuance of preferred stock, warrants, and preferred stock tranche liability	305,340	0
Proceeds from issuance of common stock	94,660	0
Member contribution (distribution)	(6,764)	(8,494)
Payments on term notes and lines of credit	(89,862)	(155,489)
Borrowings on term notes and lines of credit	32,258	206,660
Payment of acquisition-related deferred consideration	(7,249)	0
Payments of debt issuance costs	(1,519)	0
Tax payments related to vesting of RSUs	(4,037)	0
Tax payments on behalf of Umbrella partners	(379)	0
Increase (decrease) in distributions due to former TIG members	0	(13,419)
Cash payment for purchase of shares to be transferred as part of Alvarium share compensation	0	(4,215)
Cash receipts from exercise of Warrants	0	5,836
Payment of warrants and preferred stock tranche liability issuance costs	(512)	0
Cash payment of earn-in liability	(754)	0
Net cash provided by (used in) financing activities	306,711	30,879
Effect of exchange rate changes on cash	1,244	2,782
Net increase (decrease) in cash	203,892	(179,723)
Cash and cash equivalents at beginning of the period	18,246	194,086
Cash and cash equivalents at end of the period	222,138	14,363
Reconciliation of balance sheet cash and cash equivalents to cash flows:
Cash and cash equivalents on balance sheet	222,138	12,196
Cash and cash equivalents included in Assets held for sale (Note 3)	0	2,167
Cash and cash equivalents, including cash in Assets held for sale	222,138	14,363
Supplemental Disclosure of Cash Flow Information
Income taxes	983	797
Interest payments on term notes and lines of credit	12,900	10,145
Family Office Service ("FOS")
Cash Flows from Investing Activities
Proceeds from sale	16,683	0
LXi Reit Advisors Limited (“LRA”)
Cash Flows from Investing Activities
Proceeds from sale	32,202	0
Preferred Stock
Cash Flows from Financing Activities
Payment of issuance costs	(10,235)	0
Common Stock
Cash Flows from Financing Activities
Payment of issuance costs	(4,236)	0
Shareholder Loan
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Forgiveness of debt	159	0
Member Notes Receivable
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Forgiveness of debt	$ 0	$ 196

Retirement Plans

9 Months Ended

Sep. 30, 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 Three Months Ended				For the Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Plan Contributions	$	855	$	752	$	2,587	$	2,424

As of September 30, 2024, $1.6 million in contributions was payable, which is included in Accounts payable and accrued expenses on the Condensed 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
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+ Details

Summary of Significant Accounting Policies - Warrant Liabilities (Details) - Class A Common Stock - shares		3 Months Ended	9 Months Ended
	Apr. 03, 2023	Mar. 31, 2023	Sep. 30, 2024
Class of Warrant or Right [Line Items]
Issuance of shares - exercise of warrants (in shares)	78,864	428,626
Constellation warrant
Class of Warrant or Right [Line Items]
Issuance of shares - exercise of warrants (in shares)			0
Allianz warrant
Class of Warrant or Right [Line Items]
Issuance of shares - exercise of warrants (in shares)			0

Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2024, and September 30, 2023:


	September 30, 2024			September 30, 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	4,123,786	5.19		7,395,306	6.40
Restricted common stock forfeited	(615,060)	4.51		(112,961)	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	6,482,379	$	4.90	4,748,143	$	4.53

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

The following table summarizes the equity-based compensation recognized, which is included in Compensation and employee benefits in the Condensed Consolidated Statement of Operations, during the three and nine months ended September 30, 2024, and September 30, 2023:


	For the Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
RSUs	$	3,076	$	2,651	$	8,168	$	33,711
PRSUs	1,715		—		2,180		—
Acquisition-related	1,809		2,394		4,854		4,468
TIH SPA	—		1,178		—		1,178
Revenue share	435		—		799		—
Deferred compensation	871		—		3,245		—
Total	$	7,905	$	6,222	$	19,247	$	39,356

Related Party Transactions - Earn-out Liability (Details) - USD ($)					3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 01, 2024	Apr. 03, 2024	Aug. 02, 2023	Jan. 03, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Aug. 01, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Fair value of the business combination earn-out liability					$ 72,469,000		$ 72,469,000		$ 76,677,000		$ 106,280,000
Net gains/(losses)							(49,856,000)		(30,494,000)
Earn-out liabilities, at fair value					54,795,000		54,795,000		63,444,000
Alvarium, TWMH And TIG
Related Party Transaction [Line Items]
Total purchase consideration transferred				$ 1,071,116,000
Earn-out liabilities, at fair value					14,300,000		14,300,000		62,400,000
Alvarium, TWMH And TIG \| Earn-out liability
Related Party Transaction [Line Items]
Fair value of the business combination earn-out liability					14,328,000		14,328,000		62,380,000		$ 91,761,000
Net gains/(losses)					(9,700,000)	$ (9,300,000)	(48,052,000)	$ (46,200,000)	(29,381,000)
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			$ 16,754,000
Earn-out liabilities, at fair value					1,100,000		1,100,000		1,100,000
AlTi Wealth Management (Switzerland) SA (“AWMS”) \| Earn-out liability
Related Party Transaction [Line Items]
Fair value of the business combination earn-out liability					0		0		1,064,000		$ 0
Net gains/(losses)					3,000		39,000		(1,657,000)
East End Advisors, LLC ("EEA")
Related Party Transaction [Line Items]
Total purchase consideration transferred		$ 93,114,000
Earn-out liabilities, at fair value		$ 23,300,000			29,600,000		29,600,000
East End Advisors, LLC ("EEA") \| Earn-out liability
Related Party Transaction [Line Items]
Fair value of the business combination earn-out liability					29,584,000		29,584,000		$ 0
Net gains/(losses)					5,600,000		6,276,000
Envoi, LLC (“Envoi”)
Related Party Transaction [Line Items]
Total purchase consideration transferred	$ 34,258,000
Earn-out liabilities, at fair value	$ 9,000,000.0
Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability
Related Party Transaction [Line Items]
Earn-out liabilities, at fair value					8,600,000		8,600,000
Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Related Party Transaction [Line Items]
Earn-out liabilities, at fair value					$ 1,200,000		$ 1,200,000

Equity-Based Compensation - Equity-Based Compensation Award Activity (Details) - RSUs - $ / shares			9 Months Ended		12 Months Ended
	Jun. 05, 2024	May 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Number of Awards
Restricted common stock awards outstanding at beginning of period (in shares)			4,797,464	0	0
Restricted common stock granted (in shares)	2,219,661	4,697,317	4,123,786	7,395,306
Restricted common stock forfeited (in shares)			(615,060)	(112,961)
Restricted common stock vested (in shares)			(1,823,811)	(2,534,202)
Restricted common stock awards outstanding at end of period (in shares)			6,482,379	4,748,143	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	$ 0
Restricted common stock granted (in dollars per share)			5.19	6.40
Restricted common stock forfeited (in dollars per share)			4.51	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	$ 4.90	$ 4.53	$ 4.64

Business Combinations and Divestitures - Assets and Liabilities Held-For-Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Assets
Cash and cash equivalents	$ 0		$ 2,167
Total assets held for sale	0	$ 56,634
Liabilities
Total liabilities held for sale	0	(13,792)
Held for Sale
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	0	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	$ 0	$ (13,792)

Leases

9 Months Ended

Sep. 30, 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 Condensed 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 Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Operating lease expense	$	3,814	$	2,090	$	9,357	$	6,151
Variable lease expense	800		829		1,962		2,432
Short-term lease expense	61		194		187		606
Total lease expense	$	4,675	$	3,113	$	11,506	$	9,189

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


	For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023
Operating cash flow information:
Operating cash flow from operating leases	$	6,276	$	5,279
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	6,442		2,416

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


	As of September 30, 2024		As of December 31, 2023
Weighted-average remaining lease term	11.39		11.94
Weighted-average discount rate	9.87	%	6.22	%

Future minimum lease payments for the Company’s operating leases as of September 30, 2024, are as follows:


	Future Minimum Rental Operating Leases
(Dollars in Thousands)
Rest of 2024	$	2,025
2025	9,501
2026	8,768
2027	8,204
2028	7,207
2029 and beyond	60,696
Total lease payments	96,401
Less: Imputed interest	30,786
Present value of lease liabilities	$	65,615

Debt, net of unamortized deferred financing cost (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Debt Obligations

The following table summarizes outstanding debt obligations of the Company as of September 30, 2024 and December 31, 2023:


	As of September 30, 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	$	40,192	$	37,414	$	40,192	95,000		92,603		95,000
Revolving Credit Facility	91,008		91,008		91,008		93,750		93,750		93,750

Total Debt	$	131,200	$	128,422	$	131,200	$	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 September 30, 2024 and December 31, 2023. The fair value is categorized as Level 3 under ASC 820.

Schedule of Contractual Maturities of the Term Loans

Contractual maturities of the Term Loans as of September 30, 2024, are set out in the table below:


(Dollars in Thousands)	Aggregate Maturities

Rest of 2024	$	1,250
2025	$	7,500
2026	$	10,000
2027	$	10,000
2028	$	11,442
Total	$	40,192

- 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

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+ Details

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total income	$ 53,343	$ 48,186	$ 153,608	$ 157,518
Management/advisory fees
Disaggregation of Revenue [Line Items]
Total income	49,633	44,004	142,886	137,318
Incentive fees
Disaggregation of Revenue [Line Items]
Total income	88	885	304	1,931
Distributions from investments
Disaggregation of Revenue [Line Items]
Total income	3,562	2,596	9,972	14,829
Other fees/income
Disaggregation of Revenue [Line Items]
Total income	60	701	446	3,440
Operating Segments
Disaggregation of Revenue [Line Items]
Total income	53,343	48,186	153,608	157,518
Operating Segments \| Management/advisory fees
Disaggregation of Revenue [Line Items]
Total income	49,633	44,004	142,886	137,318
Operating Segments \| Incentive fees
Disaggregation of Revenue [Line Items]
Total income	88	885	304	1,931
Operating Segments \| Distributions from investments
Disaggregation of Revenue [Line Items]
Total income	3,562	2,596	9,972	14,829
Operating Segments \| Other fees/income
Disaggregation of Revenue [Line Items]
Total income	$ 60	$ 701	$ 446	$ 3,440

- 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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+ Details

Equity Method Investments	9 Months Ended
Equity Method Investments	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments As of September 30, 2024 and December 31, 2023, the Company had $7.4 million and $14.2 million, of equity method investments recorded within equity method investments on the Condensed 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 three and nine months ended September 30, 2024, the Company recognized $0.0 million and $4.0 million, respectively, and for the three and nine months ended September 30, 2023, the Company recognized $0.0 million and $0.3 million, respectively, of impairment on its equity method investments within gain (loss) on investments in the Condensed 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 three months ended September 30, 2024 and September 30, 2023, the Company recognized $0.0 thousand and $1.8 million, respectively, and for the nine months ended September 30, 2024 and September 30, 2023, the Company recognized $68.3 thousand and $3.6 million, respectively, of impairment to these assets.

Summary of Significant Accounting Policies - Goodwill (Details) - segment		9 Months Ended
	Jan. 03, 2023	Sep. 30, 2024
Accounting Policies [Abstract]
Number of operating segments	2	2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements comprise the financial statements of the Company and its subsidiaries. These condensed 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, and should be read in conjunction with the annual financial statements included in the Annual Report on Form 10-K filed by the Company on March 22, 2024 (as amended by the Company on Form 10-K/A filed with the SEC on April 5, 2024, the “Annual Report”). The notes are an integral part of the Company’s condensed consolidated financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s condensed consolidated financial statements have been included and are of a normal and recurring nature. The condensed 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 and Reclassifications	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. 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, 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 Condensed Consolidated Statement of Changes in Mezzanine Equity and Shareholders’ Equity. 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 Condensed Consolidated Statement of Operations as of September 30, 2023 of the previously reported amounts for the line items Management/advisory fees and Professional fees, decreasing both balances by $1.7 million. (c)Reclassifications Due to presentation changes that occurred during the first quarter ended March 31, 2024, we made certain reclassifications in our Condensed 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 and increase Accrued compensation and profit sharing.
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 condensed 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 condensed 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 Condensed 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 three entities 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 Condensed 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	(i)Restricted Cash and Cash Equivalents Restricted cash and cash equivalents consist of balances that are restricted as to withdrawal or usage. As of September 30, 2024 and December 31, 2023, restricted cash and cash equivalents amounted to $7.1 million and $5.4 million, respectively, and are included in the line item Cash and cash equivalents on the Condensed Consolidated Statement of Financial Position and Consolidated Statement of Financial Position, respectively. 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 Condensed 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 Condensed 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. Under this method, deferred tax assets and liabilities are determined based on differences between the condensed 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 Condensed 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 be realized, meaning the likelihood of realization is greater 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)), 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 Condensed Consolidated Statement of Financial Position with changes in fair value recorded in Loss on investments on the Condensed Consolidated Statement of Operations. Investments in Equity Securities. Equity securities are generally carried at fair value on the Condensed 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 Condensed 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 Condensed 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. 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 Condensed 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 Trade Names, Customer Relationships, Investment Management Agreements, 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	GoodwillGoodwill 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 Condensed 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 Condensed 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 two to seven 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 issuances costs are deferred and along with discounts and premiums are amortized to interest expense in the Condensed 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 Condensed 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 Condensed 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 19 (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 Condensed 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 Condensed Consolidated Statement of Operations.
Warrant Liabilities, Earn-out Liabilities, at Fair Value and Derivative Financial Instruments	Warrant Liabilities The Company evaluated the Warrants issued in connection with the Business Combination in accordance with ASC 815-40 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 Condensed 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 14 (Debt, net of unamortized deferred financing) for detail on warrant transactions entered into by the Company. 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 and determined that a provision in the agreement related to a change of control adjustment would preclude equity classification as the Allianz and Constellation Warrants would no longer be a fixed-for-fixed option. The Allianz and Constellation Warrants meet the definition of a derivative and are recorded as a derivative liability on the balance sheet and measured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with any changes in fair value to be recognized in the Consolidated Statement of Operations in the period of change. 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 earn-out liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed Consolidated Statement of Cash Flows in the period of change.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 Condensed 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 Condensed Consolidated Statement of Financial Position as of September 30, 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 Condensed 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 Condensed 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 Condensed 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 Condensed 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 Condensed 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 Condensed 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 does not expect the impact of this guidance to be material to 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 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 unaudited condensed 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 condensed 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. •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. •Warrant Liabilities - The fair values of the Constellation and Allianz Warrants are determined based on Level 3 inputs using a Black-Scholes-Merton option pricing model to incorporate the non-linear nature of the payoff of the warrants associated with their strike price. The primary assumptions used in the Black-Scholes-Merton model are the price of the Company’s Class A Common Stock, the risk-free rate, the volatility, and the remaining term to the expiration of the warrants. •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.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 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 September 30, 2024 that require adjustment to or disclosure in the consolidated financial statements, except as noted below. 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 to 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.

Business Combinations and Divestitures

9 Months Ended

Sep. 30, 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 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 condensed 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 Condensed 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 Condensed 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 Condensed 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 period ended September 30, 2023, the Company incurred $17.8 million of acquisition-related costs which are included predominantly in the “Professional fees” line in the Condensed 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 Condensed 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 Condensed 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 Condensed 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 Earn-out liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed 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 is was initially allocated to two reporting segments that existed at the time of the Business Combination. During the current quarter, 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 September 30, 2024, is $379.8 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 current quarterly period, the carrying value of the indefinite lived intangible assets were 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 condensed 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 Condensed 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 Condensed 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 condensed 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 condensed 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 Condensed 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 Earn-out liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed 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 is payable no later than September 30, 2024 and the earn-out consideration is payable no later than 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 Condensed 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

Below is a summary of the intangible assets acquired in the AIMS 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 condensed 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 1, 2024 (the “EEA acquisition Date”), the Company acquired all of the issued and outstanding ownership and membership interests of East End Advisors, LLC (“EEA”) pursuant to the terms of the purchase agreement between the Company and EEA Holding Company, LLC (the “EEA Acquisition”). The Company completed the EEA Acquisition on April 3, 2024.

The EEA Acquisition met the requirements to be considered a business combination under ASC 805. The assets and liabilities acquired from EEA, affected for preliminary adjustments to reflect the fair market values assigned to assets purchased and liabilities assumed, and results of operations, are included in the Company’s condensed consolidated financial statements 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 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. 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 certain performance measures 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 line item in the Condensed 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 $1.4 million of direct acquisition-related expenses, which are recognized in the Professional fees line item of the Condensed 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	67,300
Goodwill	25,494
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. 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 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. The components of goodwill do not qualify as a separately recognized intangible asset.

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	$	65,600	17
Developed Technology	$	300	5
Total Intangible Assets	$	67,300

The results of operations for EEA have been included in the Company’s condensed 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 Pointwise Partners Limited (“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 condensed 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 three and nine months ended September 30, 2024, a gain, representing the change in fair value of $0.1 million and $4.5 million, respectively, has been recognized in the Gain (loss) on investments line of the Condensed 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. 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 condensed 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 condensed 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 Condensed 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 Condensed 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	$	22,300
Goodwill	11,824
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. 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	$	22,300	15
Total Intangible Assets	$	22,300

The results of the Envoi Acquisition have been included in the Company’s condensed 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 nine months ended September 30, 2024 and as of the three and nine months ended September 30, 2023. Supplemental pro forma financial information for AWMS and ALWP is presented as of the three and nine months ended September 30, 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 condensed consolidated statement of operations:

•EEA, PW, and Envoi acquisitions for the three months ended September 30, 2024

•AWMS and ALWP acquisitions for the three and nine months ended September 30, 2024, and for the three months ended September 30, 2023, respectively

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 Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Total revenue	$	53,343	$	54,954	$	162,012	$	176,681
Net income (loss)	$	(68,638)	$	(88,800)	$	(43,994)	$	(112,878)

Deconsolidation of Alvarium Home REIT Advisors Ltd

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 Condensed Consolidated Statement of Operations for the period from January 3, 2023 to June 30, 2023, and its accounts were removed from the Condensed 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 Condensed 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. The contingent consideration meets the definition of a derivative and is recorded as Contingent consideration receivable on the Condensed Consolidated Statement of Financial Position as of September 30, 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 Condensed 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 nine months ended September 30, 2024, a net gain of $0.5 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 Condensed 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 three and nine months ended September 30, 2024, a gain on disposal of $0.0 million and $9.4 million, respectively, was recognized in Gain (loss) on investments in the Condensed 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 nine months ended September 30, 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)

Other assets, net and Other liabilities, net - Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Foreign currency translation difference	$ (326)	$ (270)
Accumulated depreciation and amortization	(6,888)	(5,665)
Fixed assets, net	4,465	2,532
Accrued income	15,339	17,124
Prepaid expenses	12,477	8,045
Sundry receivables	6,161	5,664
Other receivables	14,080	12,204
Other assets	5,882	2,613
Other assets, net	58,404	48,182
Other assets \| Related party
Property, Plant and Equipment [Line Items]
Related Party Receivables	4,500	6,700
Leasehold improvements
Property, Plant and Equipment [Line Items]
Fixed assets, gross	8,184	4,978
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 3,495	$ 3,489

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 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 Three Months Ended
(Dollars in Thousands)	September 30, 2024								September 30, 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	$	48,101	$	1,532	$	—	$	49,633	$	40,460	$	3,544	$	—	$	44,004
Incentive fees	88		—		—		88		884		1		—		885
Distributions from investments	3,562		—		—		3,562		2,596		—		—		2,596
Other income/fees	27		3		30		60		92		609		—		701
Total income	$	51,778	$	1,535	$	30	$	53,343	$	44,032	$	4,154	$	—	$	48,186
Operating Expenses:
Compensation and employee benefits	34,525		2,327		3,618		40,470		32,333		4,855		2,821		40,009
Systems, technology, and telephone	4,205		199		375		4,779		3,110		288		414		3,812
Sales, distribution, and marketing	620		66		71		757		491		49		118		658
Occupancy costs	3,438		232		222		3,892		2,676		454		93		3,223
Professional fees	3,787		4,270		2,945		11,002		6,391		3,527		3,422		13,340
Travel and entertainment	795		156		227		1,178		766		84		232		1,082
Depreciation and amortization	4,173		33		415		4,621		2,497		1,166		13		3,676
General, administrative, and other	2,234		748		(325)		2,657		2,546		995		3,914		7,455
Total operating expenses	$	53,777	$	8,031	$	7,548	$	69,356	$	50,810	$	11,418	$	11,027	$	73,255
Operating income (loss)	(1,999)		(6,496)		(7,518)		(16,013)		(6,778)		(7,264)		(11,027)		(25,069)
Other income (expenses):
Impairment loss on goodwill and intangible assets	(74,267)		(41,815)		—		(116,082)		—		(153,859)		—		(153,859)
Gain (loss) on investments	5,607		368		(13)		5,962		1,574		(3,517)		(16)		(1,959)
Gain (loss) on Preferred stock tranche liability	—		—		1,140		1,140		—		—		—		—
Gain (loss) on warrant liabilities	—		—		3,904		3,904		—		—		—		—
Gain (loss) on earn-out liabilities	(5,304)		—		9,717		4,413		—		—		9,335		9,335
Gain (loss) on TRA	—		—		(2,536)		(2,536)		—		—		761		761
Interest expense	(562)		(79)		(4,553)		(5,194)		(557)		50		(3,161)		(3,668)
Interest income	610		120		1,955		2,685		—		—		—		—
Other income	840		—		(7)		833		(88)		(3)		—		(91)
Income (loss) before taxes	(75,075)		(47,902)		2,089		(120,888)		(5,849)		(164,593)		(4,108)		(174,550)
Income tax (expenses) benefit	(437)		1		9,919		9,483		(885)		(395)		3,062		1,782
Net income (loss)	$	(75,512)	$	(47,901)	$	12,008	$	(111,405)	$	(6,734)	$	(164,988)	$	(1,046)	$	(172,768)


	For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024								September 30, 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	$	136,436	$	6,450	$	—	$	142,886	$	119,821	$	17,497	$	—	$	137,318
Incentive fees	304		—		—		304		1,236		695		—		1,931
Distributions from investments	9,972		—		—		9,972		14,829		—		—		14,829
Other income/fees	72		239		135		446		323		3,117		—		3,440
Total income	$	146,784	$	6,689	$	135	$	153,608	$	136,209	$	21,309	$	—	$	157,518
Operating Expenses:
Compensation and employee benefits	94,913		13,814		10,193		118,920		95,990		33,709		7,434		137,133
Systems, technology, and telephone	11,961		704		1,237		13,902		9,889		926		936		11,751
Sales, distribution, and marketing	2,175		274		275		2,724		1,169		290		293		1,752
Occupancy costs	10,019		761		614		11,394		7,988		1,556		211		9,755
Professional fees	11,611		8,919		9,444		29,974		25,366		13,949		11,772		51,087
Travel and entertainment	2,756		399		760		3,915		2,930		607		797		4,334
Depreciation and amortization	10,234		124		643		11,001		6,978		4,846		24		11,848
General, administrative, and other	4,958		1,928		528		7,414		5,868		3,975		1,583		11,426
Total operating expenses	$	148,627	$	26,923	$	23,694	$	199,244	$	156,178	$	59,858	$	23,050	$	239,086
Operating income (loss)	(1,843)		(20,234)		(23,559)		(45,636)		(19,969)		(38,549)		(23,050)		(81,568)
Other income (expenses):
Impairment loss on goodwill and intangible assets	(74,267)		(42,510)		—		(116,777)		—		(183,252)		—		(183,252)
Gain (loss) on investments	14,783		(1,959)		834		13,658		3,061		(6,708)		(16)		(3,663)
Gain (loss) on Preferred stock tranche liability	—		—		1,140		1,140		—		—		—		—
Gain (loss) on warrant liabilities	—		—		3,973		3,973		—		—		(12,866)		(12,866)
Gain (loss) on earn-out liabilities	(6,128)		—		48,050		41,922		—		—		46,212		46,212
Gain (loss) on TRA	—		—		3,786		3,786		—		—		(1,331)		(1,331)
Interest expense	(565)		(6)		(14,314)		(14,885)		(2,978)		184		(7,506)		(10,300)
Interest income	975		120		2,413		3,508		—		—		—		—
Other income	762		(2)		56		816		(77)		(661)		—		(738)
Income (loss) before taxes	(66,283)		(64,591)		22,379		(108,495)		(19,963)		(228,986)		1,443		(247,506)
Income tax (expenses) benefit	(884)		(70)		10,830		9,876		(885)		(395)		13,858		12,578
Net income (loss)	$	(67,167)	$	(64,661)	$	33,209	$	(98,619)	$	(20,848)	$	(229,381)	$	15,301	$	(234,928)


(Dollars in Thousands)
Assets by segment	As of September 30, 2024		As of December 31, 2023
Wealth & Capital Solutions	1,166,442		1,134,264
International Real Estate	$	26,292	$	125,229
Corporate	213,358		6,804
Total Assets	$	1,406,092	$	1,266,297

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			$ 67,300
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			$ 65,600
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	$ 22,300
Envoi, LLC (“Envoi”) \| Customer relationships
Acquisition Date Fair Value
Definite-Lived Intangible Assets	$ 22,300
Useful life (in years)	15 years

Earnings Per Share - Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income (loss) attributable to controlling interest - basic	$ (76,053)	$ (89,671)	$ (63,340)	$ (115,671)
Net income (loss) attributable to controlling interest - diluted	(76,053)	(89,671)	(63,340)	(115,671)
Net income (loss) available to the Company - diluted	$ (76,053)	$ (89,671)	$ (63,340)	$ (115,671)
Weighted-average shares of Class A Common Stock outstanding - basic (in shares)	86,399,551	63,568,646	74,993,835	60,174,678
Weighted-average shares of Class A Common Stock outstanding - diluted (in shares)	86,399,551	63,568,646	74,993,835	60,174,678
Income (loss) per Class A Common Stock - basic (in dollars per share)	$ (0.88)	$ (1.41)	$ (0.84)	$ (1.92)
Income (loss) per Class A Common Stock - diluted (in dollars per share)	$ (0.88)	$ (1.41)	$ (0.84)	$ (1.92)

- 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.

+ References

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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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

Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

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

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 September 30, 2024, and December 31, 2023 are presented below:


	As of September 30, 2024
	Level 1		Level 2		Level 3
(Dollars in Thousands)	Quoted Prices		Observable Inputs		Unobservable Inputs		Total
Assets:
Mutual funds	$	92	$	—	$	—	$	92
Exchange-traded funds	132		—		—		132
Investments – External Strategic Managers (1)	6		—		166,997		167,003
Investments – Affiliated Funds (2)	—		—		—		900
Contingent consideration receivable	—		—		2,408		2,408
Total	$	230	$	—	$	169,405	$	170,535

Liabilities:
Warrant liabilities	$	—	$	—	$	5,930	$	5,930
Preferred stock tranche liability	$	—	$	—	$	3,400	$	3,400
Earn-out liabilities	1,103		—		53,692		54,795

TRA liability (3)	—		—		9,447		9,447

Earn-in consideration payable	942		—		—		942
Total	$	2,045	$	—	$	72,469	$	74,514

(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 (3)	—		—		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.

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 September 30, 2024 and December 31, 2023:


	Level 3 Liabilities as of September 30, 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		Warrant liabilities		Preferred stock tranche liability		Total
Beginning balance	$	13,233	$	62,380	$	1,064	$	—	$	—	$	—	$	—	$	—	$	76,677
Issuances	—		—		—		23,308		7,980		1,020		9,903		4,540		46,751
Settlements	—		—		—		—		—		—		—		—		—
Net gains/(losses)	(3,786)		(48,052)		39		6,276		640		140		(3,973)		(1,140)		(49,856)
Transfers out of Level 3	$	—	$	—	(1,103)		—		—		—		—		$	—	$	(1,103)
Ending balance	$	9,447	$	14,328	$	—	$	29,584	$	8,620	$	1,160	$	5,930	$	3,400	$	72,469


	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 September 30, 2024
(Dollars in Thousands)	Investments – External Strategic Managers		Contingent Consideration Receivable		Total
Beginning balance	$	164,077	$	—	$	164,077
Realized and Unrealized Gains (Losses)	2,920		473		3,393
Purchases	—		1,935		1,935

Ending balance	$	166,997	$	2,408	$	169,405


	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	$	166,997	Discounted Cash Flow	Discount rate	20.0% -31%		Lower
				Long-term growth rate	4.0	%	Higher
Contingent consideration receivable	$	2,408	Monte Carlo	Risk-free rate	3.8	%	Higher
				Volatility	25.9	%	Lower
				Credit spread	1.0	%	Lower
Level 3 Liabilities:
TRA liability	$	9,447	Monte Carlo	Volatility	50.0	%	Lower
				Correlation	22.5	%	Higher
				Cost of debt range	9.5% - 10.1%		Lower
				Equity risk premium	6.8% - 13.4%		Lower
Business Combination earn-out liability	$	14,328	Monte Carlo	Volatility	60.0	%	Higher
				Risk-free rate	3.6	%	Higher




EEA earn-out liability	$	29,584	Discounted Cash Flow	EBITDA Discount Rate	15.5	%	Lower
				Risk-free rate	3.6	%	Lower
				Credit spread	9.1	%	Lower
Envoi earn-out consideration liability	$	8,620	Discounted Cash Flow	Growth rate	9.1	%	Higher
				Revenue risk-adjusted discount rate	11.5	%	Lower
				Risk-free rate	3.5	%	Lower
				Credit spread	11.2	%	Lower
Envoi earn-out growth consideration liability	$	1,160	Monte Carlo	Metric volatility	33.0	%	Lower
				Risk-free rate	3.6	%	Lower
				Revenue discount rate	11.5	%	Lower
				Credit Risk Adjusted Discount Rate	14.7	%	Lower
Warrant liabilities	$	5,930	Black-Scholes-Merton model	Volatility	45.0	%	Higher
				Risk-free rate	3.6	%	Higher
Preferred stock tranche liability	$	3,400	Binomial lattice model	Volatility	45.0	%	Higher
				Risk-free rate	4.1	%	Lower
				Credit spread	8.4	%	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

Retirement Plans (Tables)

9 Months Ended

Sep. 30, 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 Three Months Ended				For the Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Plan Contributions	$	855	$	752	$	2,587	$	2,424

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (68,638)	$ (89,671)	$ (45,283)	$ (115,671)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 2: 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 6: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The computation of the effective tax rate and provision at each interim period requires the use of certain estimates and significant judgment including, but not limited to, the expected operating income for the year, projections of the proportion of income that is subject to tax, permanent differences between the Company’s GAAP earnings and taxable income, and the likelihood of recovering deferred tax assets existing as of the balance sheet date. The estimates used to compute the provision for income taxes may change throughout the year as new events occur, additional information is obtained or as tax laws and regulations change. Accordingly, the effective tax rate for future interim periods may vary materially. The Company is a domestic corporation for U.S. federal income tax purposes and is subject to U.S. federal and state and local corporate-level income taxes on its share of taxable income from the Umbrella Partnership. The Umbrella Partnership is a partnership for U.S. federal income tax purposes and a taxable entity for certain state and local taxes, such as New York City and Connecticut 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 tax implications to both the Company and Umbrella Partnership resulting from exchanges of Warrants and Class B Paired Interests for shares of Class A Common Stock. The Company’s estimate is based on the most recent information available. The tax basis and state impact of the Company’s controlling interest in Umbrella Partnership and its underlying assets and liabilities are based on estimates subject to finalization of the Company’s tax returns. The Company had an effective tax rate of 7.8% and 1.0% for the three months ended September 30, 2024, and September 30, 2023, respectively, and 9.1% and 13.3% for the nine months ended September 30, 2024, and September 30, 2023, respectively. The effective tax rates were calculated using an Annual Effective Tax Rate approach. The book income related to fair value changes to liabilities was excluded from forecasted earnings as these amounts are based on changes in stock price and are unable to be forecasted. The book loss related to impairments was also treated as a discrete item for the three months ended September 30, 2024. The effective tax rates differ from the statutory rate primarily due to the portion of income allocated to noncontrolling interests, the portion of losses incurred primarily in the United Kingdom for which no tax benefit is recognized, certain gains recognized on contingent liabilities for which no tax liability is recognized, and the impact of state and local and non-U.S. taxes. The Company regularly evaluates the realizability of its deferred tax asset and may recognize or adjust any valuation allowance when it is more-likely-than-not that all or a portion of the deferred tax assets may not be realized. As of September 30, 2024, the Company has recorded valuation allowances against its deferred tax assets generated by its subsidiaries in the United Kingdom and its investment in Umbrella. The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the tax years that remain open under the statute of limitations may be subject to examinations by the appropriate tax authorities. As of September 30, 2024, and September 30, 2023, the Company has evaluated its tax filing positions and has not recorded a reserve for unrecognized tax benefits.

- Definition

The entire disclosure for income tax.

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+ Details

Description of the Business (Tables)

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Structure of Related Business Entities

AlTi’s capital structure as of September 30, 2024 is reflected below:

https://cdn.kscope.io/7df2108ab1e4daafdd056909f643d49d-FN 1 - AlTi - Updated Structure Chart.jpg

Schedule of Stock by Class

The following table presents the number of shares of the Registrant that were issued and outstanding as of September 30, 2024 and December 31, 2023:


	As of September 30, 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.

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+ Details

Description of the Business - Segments (Details) $ in Thousands		9 Months Ended	12 Months Ended
	Jan. 03, 2023 segment	Sep. 30, 2024 USD ($) segment category	Dec. 31, 2023 USD ($) fund	Dec. 31, 2022 USD ($)	Mar. 06, 2024 USD ($)	Jan. 09, 2024 USD ($)
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
Intangible asset impairment charge		$ 2,214	$ 52,918
Wealth & Capital Solutions
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under advisement		68,300,000	58,700,000
Wealth & Capital Solutions \| Alternatives platform
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under advisement		7,300,000	7,600,000
International Real Estate
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Assets under advisement		8,900,000	12,700,000
International Real Estate \| Alvarium RE Limited ("ARE") \| Entity owned by management Of Alvarium Home REIT Advisors Ltd (“AHRA”)
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Intangible asset impairment charge			$ 29,400
International Real Estate \| Fund management
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of funds managed \| fund			2
International 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%
Consideration receivable					$ 33,100	$ 33,100
Contingent consideration receivable					$ 5,100	$ 5,100
Intangible asset impairment charge			$ 23,500
Gain (loss) on disposal		$ 500
International Real Estate \| Fund management \| Alvarium RE Limited ("ARE") \| Alvarium Home REIT Advisors Ltd ("AHRA") \| Entity owned by management Of Alvarium Home REIT Advisors Ltd (“AHRA”)
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Voting interest to be acquired (in percent)				100.00%
Price of acquisition, expected				$ 29,000

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	Sep. 30, 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				$ 3,623	$ 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

Related Party Transactions

9 Months Ended

Sep. 30, 2024

Related Party Transactions

Related party transactions include the below:


(Dollars in Thousands)
Related Party Receivables	Consolidated Balance Sheet Line Item	As of September 30, 2024		As of December 31, 2023
Due from Certain TWMH Members, TIG GP Members and TIG MGMT Members	Other assets	$	488	$	712
Due from Equity Method Investees	Other assets	$	3,982	$	5,948
Due from Alvarium related fee arrangements	Fees receivable, net	$	289	$	247
Due from TIG related fee arrangements	Fees receivable, net	$	807	$	15,822

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	$	(29,670)	$	(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	$	(14,328)	$	(62,380)
AWMS earn-out liability	Earn-out liabilities, at fair value	$	(1,103)	$	(1,064)
AWMS deferred cash contribution	Other liabilities	$	—	$	(7,135)
Due to Equity Method Investees	Other liabilities	$	(246)	$	(1,277)
EEA earn-out liability	Earn-out liabilities, at fair value	$	(29,584)	$	—
PW deferred consideration	Other liabilities	$	(3,623)	$	—
Envoi earn-out consideration liability	Earn-out liabilities, at fair value	$	(8,620)	$	—
Envoi earn-out growth consideration liability	Earn-out liabilities, at fair value	$	(1,160)	$	—
Allianz warrant liabilities	Warrant liabilities, at fair value	$	(4,320)	$	—
Preferred stock tranche liability	Preferred stock tranche liability	$	(3,400)	$	—

Mezzanine Equity
Series A Preferred Stock	Series A Redeemable Cumulative Convertible Preferred Stock	$	141,330	$	—

Shareholders’ Equity
Delayed share purchase agreement	Additional paid-in capital	$	40	$	(1,178)

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 three months ended September 30, 2024 and September 30, 2023, the Company recognized $57 thousand and $65 thousand, respectively, and for the nine months ended September 30, 2024 and September 30, 2023, the Company recognized $173 thousand and $196 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 Condensed Consolidated Statement of Financial Condition. As of September 30, 2024 and December 31, 2023, the balance of loans to members were $0.5 million and $0.7 million, respectively.

Delayed Share Purchase Agreement

On July 28, 2023, the Company amended the delayed shared 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 Condensed 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 three and nine months ended September 30, 2024, the Company recognized $0.0 thousand and $40.0 thousand, respectively, of stock and cash compensation associated with the delayed share purchase agreement within Compensation and employee benefits expense on the Condensed 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 Condensed 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 Condensed Consolidated Statement of Financial Condition.

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


(Dollars in Thousands)	For the Three Months Ended				For the Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Management/advisory fees	$	(46)	$	(500)	$	263	$	500

Compensation and employee benefits	$	—	$	1,900	$	—	$	2,700
Other income/fees	$	5	$	300	$	(1,354)	$	(400)
Interest and dividend income (expense)	$	8	$	(12)	$	24	$	(33)

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 September 30, 2024 and December 31, 2023 was $29.7 million and $17.6 million, respectively. As of September 30, 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 $20.2 million and $4.4 million as of September 30, 2024 and December 31, 2023, respectively, is recorded at its carrying value. For the three months ended September 30, 2024 and September 30, 2023, the Company recognized a loss of $(2.5) million and $0.8 million, respectively, and for the nine months ended September 30, 2024 and September 30, 2023, the Company recognized a gain of $3.8 million and a loss of $(1.3) million, respectively, which is recorded in Gain (loss) on TRA in the Condensed Consolidated Statement of Operations.

On August 31, 2023, holders of Class B Common Stock exchanged a portion of such Class B Units with the Company, in exchange 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 B Common Stock exchanged at the time of the transaction. On March 11, 2024, holders of Class B Common Stock exchanged a portion of such Class B Units with the Company, in exchange 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 Common Stock exchanged at the time of the transaction. On May 14, 2024, holders of Class B Common Stock exchanged 286,242 Class B Units with the Company, in exchange 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 Common Stock exchanged at the time of the transaction. On August 19, 2024, holders of Class B Common Stock exchanged 1,840,077 Class B Units with the Company, in exchange for shares of Class A Common Stock on a 1:1 basis totaling an amount equal to $4.02 multiplied by the total number of shares of Class B Common Stock exchanged at the time of the transaction.

For the nine months ended September 30, 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 September 30, 2024 and December 31, 2023, the fair value of the Business Combination Earn-out Liability was $14.3 million and $62.4 million, respectively, and is reported in Earn-out liabilities, at fair value, in the Condensed Consolidated Statement of Financial Position. The Company recognized the change in fair value of $(9.7) million and $(9.3) million for the three months ended September 30, 2024 and September 30, 2023, respectively, and $(48.1) million and $(46.2) million for the nine months ended September 30, 2024 and September 30, 2023, respectively, which is recorded in Gain (loss) on earnout liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed 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. As of September 30, 2024 and December 31, 2023, the AWMS earn-out liability of $1.1 million and $1.1 million, respectively, is reported in Earn-out liabilities, at fair value, in the Condensed 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 Condensed 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 $3.0 thousand and $39.0 thousand for the three and nine months ended September 30, 2024, respectively, which is recorded in Gain (loss) on earn-out liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed 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 September 30, 2024, the EEA earn-out liability of $29.6 million is reported in Earn-out liabilities, at fair value, in the Condensed 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 $5.6 million and $6.3 million for the three and nine months ended September 30, 2024, respectively, which is recorded in Gain (loss) on earn-out liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed 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 September 30, 2024, the deferred consideration of $3.6 million is recorded within the Other liabilities line item in the Condensed Consolidated Statement of Financial Position.

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 September 30, 2024, the Envoi earn-out consideration liability of $8.6 million and the Envoi earn-out growth consideration liability of $1.2 million are reported in the Earn-out liabilities, at fair value, in the Condensed 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 earn-out liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed Consolidated Statement of Cash Flows in the period of change.

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 September 30, 2024 and December 31, 2023, fees due from Alvarium related fee arrangements were $0.3 million and $0.2 million, respectively. Additionally, as of September 30, 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 Transaction

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 September 30, 2024, the Allianz Warrants of $4.3 million are recorded in the line item Warrant liabilities, at fair value on the Company’s Condensed Consolidated Statement of Financial Position. The change in fair value of the Allianz Warrants are $2.6 million for the three months ended September 30, 2024 and is recorded in the line item Gain (loss) on warrant liabilities in the Condensed Consolidated Statement of Operations.

The Allianz Tranche Right of $3.4 million is recorded in the line item Preferred stock tranche liability on the Company’s Condensed Consolidated Statement of Financial Position. As of September 30, 2024, the change in fair value of the Allianz Tranche Right is $1.1 million and is recorded in the line item Gain (loss) on preferred stock tranche liability in the Condensed Consolidated Statement of Operations.

The Series A Preferred Stock of 141,330 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.

- 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
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-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
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

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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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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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
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Equity (Details) - shares	Jul. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Series C Redeemable Cumulative Convertible Preferred Stock, issued (in shares)		150,000
Class A Common Stock
Class of Stock [Line Items]
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, 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

Condensed Consolidated Statement of Financial Position (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
TRA liability, fair value	$ 9,447	$ 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	$ 33,763	$ 70,421
Fees receivable \| Related party
Contract with customer, receivable	$ 1,096	$ 16,069

Summary of Significant Accounting Policies - Distributions from Investment (Details)	Sep. 30, 2024 entity
Accounting Policies [Abstract]
Number of entities in which company is entitled to distributions	3

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues [Abstract]
Total income	$ 53,343	$ 48,186	$ 153,608	$ 157,518
Operating Expenses
Compensation and employee benefits	40,470	40,009	118,920	137,133
Systems, technology and telephone	4,779	3,812	13,902	11,751
Sales, distribution and marketing	757	658	2,724	1,752
Occupancy costs	3,892	3,223	11,394	9,755
Professional fees	11,002	13,340	29,974	51,087
Travel and entertainment	1,178	1,082	3,915	4,334
Depreciation and amortization	4,621	3,676	11,001	11,848
General, administrative and other	2,657	7,455	7,414	11,426
Total operating expenses	69,356	73,255	199,244	239,086
Total operating income (loss)	(16,013)	(25,069)	(45,636)	(81,568)
Other Income (Expenses)
Impairment loss on goodwill and intangible assets	(116,082)	(153,859)	(116,777)	(183,252)
Gain (loss) on investments	5,962	(1,959)	13,658	(3,663)
Gain (loss) on TRA	(2,536)	761	3,786	(1,331)
Gain (loss) on preferred stock tranche liability	1,140	0	1,140	0
Gain (loss) on warrant liabilities	3,904	0	3,973	(12,866)
Gain (loss) on earnout liabilities	4,413	9,335	41,922	46,212
Interest expense	(5,194)	(3,668)	(14,885)	(10,300)
Interest income	2,685	0	3,508	0
Other income (expense)	833	(91)	816	(738)
Income (loss) before taxes	(120,888)	(174,550)	(108,495)	(247,506)
Income tax (expense) benefit	9,483	1,782	9,876	12,578
Net income (loss)	(111,405)	(172,768)	(98,619)	(234,928)
Net loss (income) attributed to non-controlling interests in subsidiaries	(42,767)	(83,097)	(53,336)	(119,257)
Net income (loss) attributable to AlTi Global, Inc.	$ (68,638)	$ (89,671)	$ (45,283)	$ (115,671)
Net Income (Loss) Per Share
Basic (in dollars per share)	$ (0.88)	$ (1.41)	$ (0.84)	$ (1.92)
Diluted (in dollars per share)	$ (0.88)	$ (1.41)	$ (0.84)	$ (1.92)
Weighted Average Shares of Class A Common Stock Outstanding
Basic (in shares)	86,399,551	63,568,646	74,993,835	60,174,678
Diluted (in shares)	86,399,551	63,568,646	74,993,835	60,174,678
Other Comprehensive Income (Loss)
Foreign currency translation adjustments	$ (4,222)	$ (9,981)	$ (7,151)	$ 7,927
Other comprehensive income (loss)	(63)	72	148	(610)
Total comprehensive income (loss)	(115,690)	(182,677)	(105,622)	(227,611)
Other loss attributed to non-controlling interests in subsidiaries	(43,432)	(87,843)	(55,635)	(115,958)
Comprehensive income (loss) attributable to AlTi Global, Inc.	(72,258)	(94,834)	(49,987)	(111,653)
Management/advisory fees
Revenues [Abstract]
Total income	49,633	44,004	142,886	137,318
Incentive fees
Revenues [Abstract]
Total income	88	885	304	1,931
Distributions from investments
Revenues [Abstract]
Total income	3,562	2,596	9,972	14,829
Other fees/income
Revenues [Abstract]
Total income	$ 60	$ 701	$ 446	$ 3,440

Description of the Business - Shares Issued and Outstanding (Details) - shares	Sep. 30, 2024	Jun. 30, 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	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	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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Combinations and Divestitures (Tables)

9 Months Ended

Sep. 30, 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


(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	67,300
Goodwill	25,494
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	$	22,300
Goodwill	11,824
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 AIMS 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	$	65,600	17
Developed Technology	$	300	5
Total Intangible Assets	$	67,300

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	$	22,300	15
Total Intangible Assets	$	22,300

Schedule of Business Acquisition, Pro Forma Information


	For the Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Total revenue	$	53,343	$	54,954	$	162,012	$	176,681
Net income (loss)	$	(68,638)	$	(88,800)	$	(43,994)	$	(112,878)

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.

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+ Details

Business Combinations and Divestitures - Deconsolidation, Disposal and Assets Held For Sale (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	May 08, 2024	Sep. 30, 2024	May 08, 2024	Sep. 30, 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	$ 52,918
Assets held for sale		$ 0		0	56,634
Liabilities held for sale		0		0	13,792
Held for Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale		0		0	56,634
Liabilities held for sale		0		0	13,792
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		$ 0		9,400
Expected cash consideration								$ 20,100
Adjustment to cash consolidation			$ (600)
Cash consideration, net of adjustments	$ 19,500
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
LondonMetric Property Plc \| International Real Estate \| Disposal group, disposed of by sale, not discontinued operations \| LXi Reit Advisors Limited (“LRA”) \| Fund management
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible asset impairment charge					$ 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				$ 500

Related Party Transactions - Allianz Transaction (Details) $ in Thousands		3 Months Ended		9 Months Ended
	Jul. 31, 2024 director shares	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Feb. 22, 2024 USD ($) shares	Dec. 31, 2023 USD ($)	Jun. 07, 2023 shares
Related Party Transaction [Line Items]
Number of securities called by warrants or rights (in shares) \| shares									19,892,387
Warrant liabilities, at fair value		$ 5,930		$ 5,930				$ 0
Gain (loss) on warrant liabilities		3,904	$ 0	3,973	$ (12,866)
Preferred stock tranche liability		3,400		3,400				0
Gain (loss) on preferred stock tranche liability		1,140	$ 0	1,140	$ 0
Allianz warrant
Related Party Transaction [Line Items]
Warrant liabilities, at fair value		4,300		4,300
Gain (loss) on warrant liabilities		2,600
Series A Preferred Stock
Related Party Transaction [Line Items]
Preferred stock		141,330		141,330		$ 0		0
Series A Preferred Stock \| Related party
Related Party Transaction [Line Items]
Preferred stock		$ 141,330		$ 141,330				$ 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 percentage of ownership	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

Intangible Assets, net (Tables)

9 Months Ended

Sep. 30, 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 Condensed Consolidated Statement of Financial Position.


	As of September 30, 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	22.1	$	283,568	$	—	$	(15,684)	$	267,884
Investment management agreements	0.0	6,751		(2,104)		(4,647)		—
Trade names	9.4	12,484		(110)		(2,451)		9,923
Acquired internally developed software	5.0	1,300		—		(380)		920
Other intangible asset	0.0	622		—		(622)		—
Total amortized intangible assets		304,725		(2,214)		(23,784)		278,727
Non-amortized intangible assets (1)
Investment management agreements (3)		245,900		(44,900)		—		201,000
Total intangible assets		$	550,625	$	(47,114)	$	(23,784)	$	479,727

(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 September 30, 2024, gross carrying amounts related to the Company’s intangible assets include additions to intangibles of $99.3 million related to the PW and EEA Acquisitions (see Note 3 Business Combinations and Divestitures) and foreign currency translation differences of $1.6 million.

(3) During the three quarters ended September 30, 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 an interim 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 13 (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 Condensed Consolidated Statement of Financial Position as of September 30, 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 Condensed 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 nine months ended September 30, 2024, a net gain of $0.5 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 Condensed 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 September 30, 2024

2024	$	3,906
2025	15,622
2026	15,622
2027	15,622
2028 and beyond	227,955
Total	$	278,727

Retirement Plans - Narrative (Details) $ in Millions	9 Months Ended
Retirement Plans - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($)
Postemployment Benefits [Abstract]
Defined contribution plan, tax status	Qualified Plan [Member]
Contributions payable	$ 1.6

Segment Reporting - Assets By Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total Assets	$ 1,406,092	$ 1,266,297
Wealth & Capital Solutions
Segment Reporting Information [Line Items]
Total Assets	1,166,442	1,134,264
International Real Estate
Segment Reporting Information [Line Items]
Total Assets	26,292	125,229
Corporate
Segment Reporting Information [Line Items]
Total Assets	$ 213,358	$ 6,804

- Definition

Amount of asset recognized for present right to economic benefit.

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+ Details

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate (in percent)	7.80%	1.00%	9.10%	13.30%

Segment Reporting - Narrative (Details) - segment		9 Months Ended
Segment Reporting - Narrative (Details) - segment	Jan. 03, 2023	Sep. 30, 2024
Segment Reporting [Abstract]
Number of operating segments	2	2

Related Party Transactions - Fees Receivable, net (Details) - Fees receivable - Fees receivable, net - Related party - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Related Party Receivables	$ 289	$ 247
Due from TIG related fee arrangements
Related Party Transaction [Line Items]
Related Party Receivables	$ 807	$ 15,822

Fair Value Disclosures - Valuation Methodologies (Details) $ in Thousands	Sep. 30, 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	$ 168,127			$ 165,894
Contingent consideration receivable	2,408			0
TRA liability, fair value	9,447			13,233
Earn-out liability, fair value	54,795			63,444
Warrant liabilities	5,930			0
Preferred stock tranche liability	3,400			0
Alvarium, TWMH And TIG
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	14,300			62,400
East End Advisors, LLC ("EEA")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	29,600		$ 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	8,600
Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	1,200
AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	1,100			1,100
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration receivable	2,408
TRA liability, fair value	9,447			13,233
Warrant liabilities	5,930
Preferred stock tranche liability	3,400
Level 3 \| Alvarium, TWMH And TIG
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	14,328			62,380
Level 3 \| East End Advisors, LLC ("EEA")
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	29,584
Level 3 \| Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	8,620
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	1,160
Level 3 \| AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, fair value	$ 1,100			$ 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)	0.091
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)	0.036
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)	0.035
Level 3 \| Risk-free rate \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration receivable, measurement input (in percent)	0.038
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)	0.036			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)	0.036
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 \| Black-Scholes-Merton model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liabilities, measurement input (in percent)	0.036
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)	0.041
Level 3 \| Volatility \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration receivable, measurement input (in percent)	0.259
TRA liability, measurement input (in percent)	0.500			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)	0.600			0.400
Level 3 \| Volatility \| Black-Scholes-Merton model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liabilities, measurement input (in percent)	0.450
Level 3 \| Volatility \| Binomial lattice model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock tranche liability, measurement input (in percent)	0.450
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)	0.091
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)	0.112
Level 3 \| Credit spread \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration receivable, measurement input (in percent)	0.010
Level 3 \| Credit spread \| Binomial lattice model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock tranche liability, measurement input (in percent)	0.084
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)	0.155
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)	0.115
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)	0.115
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)	0.147
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 \| Minimum \| Cost of debt range \| Monte Carlo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
TRA liability, measurement input (in percent)	0.095			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)	0.068			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)	0.101			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)	0.134			0.131
Level 3 \| Investments – external strategic managers
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments at fair value	$ 166,997			$ 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)	0.200			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)	0.31			0.290

Summary of Significant Accounting Policies - Revenue Recognition (Details)	9 Months Ended
	Sep. 30, 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

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 11, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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	520 Madison Avenue, 26th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	(212)
Local Phone Number	396-5900
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	ALTI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001838615
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		93,686,980
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		46,138,876

Segment Reporting - Net Income By Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Total income	$ 53,343	$ 48,186	$ 153,608	$ 157,518
Operating Expenses:
Compensation and employee benefits	40,470	40,009	118,920	137,133
Systems, technology and telephone	4,779	3,812	13,902	11,751
Sales, distribution and marketing	757	658	2,724	1,752
Occupancy costs	3,892	3,223	11,394	9,755
Professional fees	11,002	13,340	29,974	51,087
Travel and entertainment	1,178	1,082	3,915	4,334
Depreciation and amortization	4,621	3,676	11,001	11,848
General, administrative and other	2,657	7,455	7,414	11,426
Total operating expenses	69,356	73,255	199,244	239,086
Total operating income (loss)	(16,013)	(25,069)	(45,636)	(81,568)
Impairment loss on goodwill and intangible assets	(116,082)	(153,859)	(116,777)	(183,252)
Gain (loss) on investments	5,962	(1,959)	13,658	(3,663)
Gain (loss) on preferred stock tranche liability	1,140	0	1,140	0
Gain (loss) on warrant liabilities	3,904	0	3,973	(12,866)
Gain (loss) on earn-out liabilities	4,413	9,335	41,922	46,212
Gain (loss) on TRA	(2,536)	761	3,786	(1,331)
Interest expense	(5,194)	(3,668)	(14,885)	(10,300)
Interest income	2,685	0	3,508	0
Other income	833	(91)	816	(738)
Income (loss) before taxes	(120,888)	(174,550)	(108,495)	(247,506)
Income tax (expense) benefit	9,483	1,782	9,876	12,578
Net income (loss)	(111,405)	(172,768)	(98,619)	(234,928)
Wealth & Capital Solutions
Revenue:
Total income	51,778	44,032	146,784	136,209
Operating Expenses:
Compensation and employee benefits	34,525	32,333	94,913	95,990
Systems, technology and telephone	4,205	3,110	11,961	9,889
Sales, distribution and marketing	620	491	2,175	1,169
Occupancy costs	3,438	2,676	10,019	7,988
Professional fees	3,787	6,391	11,611	25,366
Travel and entertainment	795	766	2,756	2,930
Depreciation and amortization	4,173	2,497	10,234	6,978
General, administrative and other	2,234	2,546	4,958	5,868
Total operating expenses	53,777	50,810	148,627	156,178
Total operating income (loss)	(1,999)	(6,778)	(1,843)	(19,969)
Impairment loss on goodwill and intangible assets	(74,267)	0	(74,267)	0
Gain (loss) on investments	5,607	1,574	14,783	3,061
Gain (loss) on preferred stock tranche liability	0	0	0	0
Gain (loss) on warrant liabilities	0	0	0	0
Gain (loss) on earn-out liabilities	(5,304)	0	(6,128)	0
Gain (loss) on TRA	0	0	0	0
Interest expense	(562)	(557)	(565)	(2,978)
Interest income	610	0	975	0
Other income	840	(88)	762	(77)
Income (loss) before taxes	(75,075)	(5,849)	(66,283)	(19,963)
Income tax (expense) benefit	(437)	(885)	(884)	(885)
Net income (loss)	(75,512)	(6,734)	(67,167)	(20,848)
International Real Estate
Revenue:
Total income	1,535	4,154	6,689	21,309
Operating Expenses:
Compensation and employee benefits	2,327	4,855	13,814	33,709
Systems, technology and telephone	199	288	704	926
Sales, distribution and marketing	66	49	274	290
Occupancy costs	232	454	761	1,556
Professional fees	4,270	3,527	8,919	13,949
Travel and entertainment	156	84	399	607
Depreciation and amortization	33	1,166	124	4,846
General, administrative and other	748	995	1,928	3,975
Total operating expenses	8,031	11,418	26,923	59,858
Total operating income (loss)	(6,496)	(7,264)	(20,234)	(38,549)
Impairment loss on goodwill and intangible assets	(41,815)	(153,859)	(42,510)	(183,252)
Gain (loss) on investments	368	(3,517)	(1,959)	(6,708)
Gain (loss) on preferred stock tranche liability	0	0	0	0
Gain (loss) on warrant liabilities	0	0	0	0
Gain (loss) on earn-out liabilities	0	0	0	0
Gain (loss) on TRA	0	0	0	0
Interest expense	(79)	50	(6)	184
Interest income	120	0	120	0
Other income	0	(3)	(2)	(661)
Income (loss) before taxes	(47,902)	(164,593)	(64,591)	(228,986)
Income tax (expense) benefit	1	(395)	(70)	(395)
Net income (loss)	(47,901)	(164,988)	(64,661)	(229,381)
Corporate
Revenue:
Total income	30	0	135	0
Operating Expenses:
Compensation and employee benefits	3,618	2,821	10,193	7,434
Systems, technology and telephone	375	414	1,237	936
Sales, distribution and marketing	71	118	275	293
Occupancy costs	222	93	614	211
Professional fees	2,945	3,422	9,444	11,772
Travel and entertainment	227	232	760	797
Depreciation and amortization	415	13	643	24
General, administrative and other	(325)	3,914	528	1,583
Total operating expenses	7,548	11,027	23,694	23,050
Total operating income (loss)	(7,518)	(11,027)	(23,559)	(23,050)
Impairment loss on goodwill and intangible assets	0	0	0	0
Gain (loss) on investments	(13)	(16)	834	(16)
Gain (loss) on preferred stock tranche liability	1,140	0	1,140	0
Gain (loss) on warrant liabilities	3,904	0	3,973	(12,866)
Gain (loss) on earn-out liabilities	9,717	9,335	48,050	46,212
Gain (loss) on TRA	(2,536)	761	3,786	(1,331)
Interest expense	(4,553)	(3,161)	(14,314)	(7,506)
Interest income	1,955	0	2,413	0
Other income	(7)	0	56	0
Income (loss) before taxes	2,089	(4,108)	22,379	1,443
Income tax (expense) benefit	9,919	3,062	10,830	13,858
Net income (loss)	12,008	(1,046)	33,209	15,301
Management/advisory fees
Revenue:
Total income	49,633	44,004	142,886	137,318
Management/advisory fees \| Wealth & Capital Solutions
Revenue:
Total income	48,101	40,460	136,436	119,821
Management/advisory fees \| International Real Estate
Revenue:
Total income	1,532	3,544	6,450	17,497
Management/advisory fees \| Corporate
Revenue:
Total income	0	0	0	0
Incentive fees
Revenue:
Total income	88	885	304	1,931
Incentive fees \| Wealth & Capital Solutions
Revenue:
Total income	88	884	304	1,236
Incentive fees \| International Real Estate
Revenue:
Total income	0	1	0	695
Incentive fees \| Corporate
Revenue:
Total income	0	0	0	0
Distributions from investments
Revenue:
Total income	3,562	2,596	9,972	14,829
Distributions from investments \| Wealth & Capital Solutions
Revenue:
Total income	3,562	2,596	9,972	14,829
Distributions from investments \| International Real Estate
Revenue:
Total income	0	0	0	0
Distributions from investments \| Corporate
Revenue:
Total income	0	0	0	0
Other fees/income
Revenue:
Total income	60	701	446	3,440
Other fees/income \| Wealth & Capital Solutions
Revenue:
Total income	27	92	72	323
Other fees/income \| International Real Estate
Revenue:
Total income	3	609	239	3,117
Other fees/income \| Corporate
Revenue:
Total income	$ 30	$ 0	$ 135	$ 0

Retirement Plans - Costs of Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Postemployment Benefits [Abstract]
Plan Contributions	$ 855	$ 752	$ 2,587	$ 2,424

Debt, net of unamortized deferred financing cost

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Debt, net of unamortized deferred financing cost

The following table summarizes outstanding debt obligations of the Company as of September 30, 2024 and December 31, 2023:


	As of September 30, 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	$	40,192	$	37,414	$	40,192	95,000		92,603		95,000
Revolving Credit Facility	91,008		91,008		91,008		93,750		93,750		93,750

Total Debt	$	131,200	$	128,422	$	131,200	$	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 September 30, 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 September 30, 2024, unfunded commitments on the

Revolving Credit Facility amounted to $49.0 million, and the weighted-average interest rate on the outstanding borrowings of this facility was 9.4%. 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 September 30, 2024 and December 31, 2023, total outstanding debt, net of unamortized deferred financing costs amounted to $128.4 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 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.

As required by accounting standards, the Company has performed an assessment based on its current operations and capital structure of its ability to generate sufficient cash flows to meet its financial obligations for one year subsequent to the financial statement issuance date, based on conditions known and reasonably knowable as of the financial statement issuance date. Management has performed this required assessment as of November 12, 2024, and believes there are sufficient funds available to support its ongoing business operations and continue as a going concern for at least the next 12 months.

Management’s assessment is subject to known and unknown risks, uncertainties, assumptions, and changes in circumstances, many of which are beyond our control including the impact of the macroeconomic environment, and that are difficult to predict as to timing, extent, likelihood, and degree of occurrence, and that could cause actual results to differ from estimates and forecasts, potentially materially. Based upon the results of Management’s assessment, these interim unaudited condensed consolidated financial statements have been prepared on a going concern basis. The interim unaudited condensed consolidated financial statements do not include any adjustments that could result from the outcome of the aforementioned risks and uncertainties.

Contractual maturities of the Term Loans as of September 30, 2024, are set out in the table below:


(Dollars in Thousands)	Aggregate Maturities

Rest of 2024	$	1,250
2025	$	7,500
2026	$	10,000
2027	$	10,000
2028	$	11,442
Total	$	40,192

Debt is prepayable without penalty prior to maturity. Borrowings under the Revolving Credit Facility are due and payable on the termination date or an earlier date at the Company’s discretion.

Constellation and Allianz Transactions

In connection with the Constellation and Allianz Transactions, the Company evaluated the Constellation and Allianz Warrants in accordance with ASC 815-40 and concluded that a provision in the warrant agreement related to a change of control adjustment which would preclude equity classification as the Constellation and Allianz Warrants would no longer be a fixed-for-fixed option.

The Constellation and Allianz Warrants meet the definition of a derivative and 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. As of September 30, 2024, the Constellation and Allianz Warrants of $1.6 million and $4.3 million, respectively, are recorded in the line item Warrant liabilities at fair value on the Company’s Condensed Consolidated Statement of Financial Position. For the three and nine months ended September 30, 2024, the changes in fair value of the Constellation Warrants are $1.3 million and $1.4 million, respectively, and the change in fair value of the Allianz Warrants is $2.6 million for the three months ended September 30, 2024. Changes in fair value for the Constellation and Allianz Warrants are recorded in the line item Gain (loss) on warrant liabilities in the Condensed Consolidated Statement of Operations.

Additionally, 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 September 30, 2024, the Allianz Tranche Right of $3.4 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 Condensed Consolidated Statement of Financial Position. As of September 30, 2024, the change in fair value of the Allianz Tranche Right is $1.1 million and is recorded in the line item Gain (loss) on preferred stock liability in the Condensed 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

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

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

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

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

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

Reference 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(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

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

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

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

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

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

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

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

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

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

+ Details

Fair Value Disclosures - 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

+ Details

Intangible Assets, net

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, net

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


	As of September 30, 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	22.1	$	283,568	$	—	$	(15,684)	$	267,884
Investment management agreements	0.0	6,751		(2,104)		(4,647)		—
Trade names	9.4	12,484		(110)		(2,451)		9,923
Acquired internally developed software	5.0	1,300		—		(380)		920
Other intangible asset	0.0	622		—		(622)		—
Total amortized intangible assets		304,725		(2,214)		(23,784)		278,727
Non-amortized intangible assets (1)
Investment management agreements (3)		245,900		(44,900)		—		201,000
Total intangible assets		$	550,625	$	(47,114)	$	(23,784)	$	479,727

(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 $4.0 million and $3.2 million for the three months ended September 30, 2024 and September 30, 2023, respectively, and approximately $9.7 million and $10.8 million for the nine months ended September 30, 2024 and September 30, 2023, respectively, were 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 September 30, 2024

2024	$	3,906
2025	15,622
2026	15,622
2027	15,622
2028 and beyond	227,955
Total	$	278,727

Segment Reporting

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Reporting

Effective as September 30, 2024, certain changes were made to the composition of our business 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 assesses the Company’s performance and allocation of resources.

The Company maintains two business 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 business 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 business 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 business segments are allocated to the business segments’ statement of operations.

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 Three Months Ended
(Dollars in Thousands)	September 30, 2024								September 30, 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	$	48,101	$	1,532	$	—	$	49,633	$	40,460	$	3,544	$	—	$	44,004
Incentive fees	88		—		—		88		884		1		—		885
Distributions from investments	3,562		—		—		3,562		2,596		—		—		2,596
Other income/fees	27		3		30		60		92		609		—		701
Total income	$	51,778	$	1,535	$	30	$	53,343	$	44,032	$	4,154	$	—	$	48,186
Operating Expenses:
Compensation and employee benefits	34,525		2,327		3,618		40,470		32,333		4,855		2,821		40,009
Systems, technology, and telephone	4,205		199		375		4,779		3,110		288		414		3,812
Sales, distribution, and marketing	620		66		71		757		491		49		118		658
Occupancy costs	3,438		232		222		3,892		2,676		454		93		3,223
Professional fees	3,787		4,270		2,945		11,002		6,391		3,527		3,422		13,340
Travel and entertainment	795		156		227		1,178		766		84		232		1,082
Depreciation and amortization	4,173		33		415		4,621		2,497		1,166		13		3,676
General, administrative, and other	2,234		748		(325)		2,657		2,546		995		3,914		7,455
Total operating expenses	$	53,777	$	8,031	$	7,548	$	69,356	$	50,810	$	11,418	$	11,027	$	73,255
Operating income (loss)	(1,999)		(6,496)		(7,518)		(16,013)		(6,778)		(7,264)		(11,027)		(25,069)
Other income (expenses):
Impairment loss on goodwill and intangible assets	(74,267)		(41,815)		—		(116,082)		—		(153,859)		—		(153,859)
Gain (loss) on investments	5,607		368		(13)		5,962		1,574		(3,517)		(16)		(1,959)
Gain (loss) on Preferred stock tranche liability	—		—		1,140		1,140		—		—		—		—
Gain (loss) on warrant liabilities	—		—		3,904		3,904		—		—		—		—
Gain (loss) on earn-out liabilities	(5,304)		—		9,717		4,413		—		—		9,335		9,335
Gain (loss) on TRA	—		—		(2,536)		(2,536)		—		—		761		761
Interest expense	(562)		(79)		(4,553)		(5,194)		(557)		50		(3,161)		(3,668)
Interest income	610		120		1,955		2,685		—		—		—		—
Other income	840		—		(7)		833		(88)		(3)		—		(91)
Income (loss) before taxes	(75,075)		(47,902)		2,089		(120,888)		(5,849)		(164,593)		(4,108)		(174,550)
Income tax (expenses) benefit	(437)		1		9,919		9,483		(885)		(395)		3,062		1,782
Net income (loss)	$	(75,512)	$	(47,901)	$	12,008	$	(111,405)	$	(6,734)	$	(164,988)	$	(1,046)	$	(172,768)


	For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024								September 30, 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	$	136,436	$	6,450	$	—	$	142,886	$	119,821	$	17,497	$	—	$	137,318
Incentive fees	304		—		—		304		1,236		695		—		1,931
Distributions from investments	9,972		—		—		9,972		14,829		—		—		14,829
Other income/fees	72		239		135		446		323		3,117		—		3,440
Total income	$	146,784	$	6,689	$	135	$	153,608	$	136,209	$	21,309	$	—	$	157,518
Operating Expenses:
Compensation and employee benefits	94,913		13,814		10,193		118,920		95,990		33,709		7,434		137,133
Systems, technology, and telephone	11,961		704		1,237		13,902		9,889		926		936		11,751
Sales, distribution, and marketing	2,175		274		275		2,724		1,169		290		293		1,752
Occupancy costs	10,019		761		614		11,394		7,988		1,556		211		9,755
Professional fees	11,611		8,919		9,444		29,974		25,366		13,949		11,772		51,087
Travel and entertainment	2,756		399		760		3,915		2,930		607		797		4,334
Depreciation and amortization	10,234		124		643		11,001		6,978		4,846		24		11,848
General, administrative, and other	4,958		1,928		528		7,414		5,868		3,975		1,583		11,426
Total operating expenses	$	148,627	$	26,923	$	23,694	$	199,244	$	156,178	$	59,858	$	23,050	$	239,086
Operating income (loss)	(1,843)		(20,234)		(23,559)		(45,636)		(19,969)		(38,549)		(23,050)		(81,568)
Other income (expenses):
Impairment loss on goodwill and intangible assets	(74,267)		(42,510)		—		(116,777)		—		(183,252)		—		(183,252)
Gain (loss) on investments	14,783		(1,959)		834		13,658		3,061		(6,708)		(16)		(3,663)
Gain (loss) on Preferred stock tranche liability	—		—		1,140		1,140		—		—		—		—
Gain (loss) on warrant liabilities	—		—		3,973		3,973		—		—		(12,866)		(12,866)
Gain (loss) on earn-out liabilities	(6,128)		—		48,050		41,922		—		—		46,212		46,212
Gain (loss) on TRA	—		—		3,786		3,786		—		—		(1,331)		(1,331)
Interest expense	(565)		(6)		(14,314)		(14,885)		(2,978)		184		(7,506)		(10,300)
Interest income	975		120		2,413		3,508		—		—		—		—
Other income	762		(2)		56		816		(77)		(661)		—		(738)
Income (loss) before taxes	(66,283)		(64,591)		22,379		(108,495)		(19,963)		(228,986)		1,443		(247,506)
Income tax (expenses) benefit	(884)		(70)		10,830		9,876		(885)		(395)		13,858		12,578
Net income (loss)	$	(67,167)	$	(64,661)	$	33,209	$	(98,619)	$	(20,848)	$	(229,381)	$	15,301	$	(234,928)


(Dollars in Thousands)
Assets by segment	As of September 30, 2024		As of December 31, 2023
Wealth & Capital Solutions	1,166,442		1,134,264
International Real Estate	$	26,292	$	125,229
Corporate	213,358		6,804
Total Assets	$	1,406,092	$	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

Intangible Assets, net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Mar. 06, 2024	Jan. 09, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 304,725	$ 303,668
Impairment	(2,214)	(52,918)
Accumulated Amortization	(23,784)	(14,061)
Net Carrying Amount	278,727	189,777
Foreign currency translation differences	1,600	7,400
Non-amortized intangible assets
Impairment	(44,900)	0
Intangible Assets, Gross Carrying Amount	550,625	549,568
Intangible Assets, Impairment	(47,114)	(52,918)
Intangible Assets, Net Carrying Amount	479,727	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)
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”) \| 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	500
Pointwise Partners Limited ("PW") And East End Advisors, LLC ("EEA")
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	99,300
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 1 month 6 days	25 years 3 months 18 days
Gross Carrying Amount	$ 283,568	$ 186,832
Impairment	0	0
Accumulated Amortization	(15,684)	(7,180)
Net Carrying Amount	$ 267,884	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	$ 6,751	$ 100,269
Impairment	(2,104)	(50,283)
Accumulated Amortization	(4,647)	(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	$ 12,484	$ 14,945
Impairment	(110)	(2,635)
Accumulated Amortization	(2,451)	(1,514)
Net Carrying Amount	$ 9,923	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	(380)	(200)
Net Carrying Amount	$ 920	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

Summary of Significant Accounting Policies - Delayed Share Purchase Agreement (Details) - USD ($) $ in Thousands		8 Months Ended
	Jul. 27, 2023	Mar. 25, 2024	Sep. 30, 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

Revenue - Contract with Customer (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Deferred revenue	$ (93)	$ (66)
Operating Segments \| Management/advisory fees
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	33,603	29,539	$ 30,698
Deferred revenue	(93)	(66)	(945)
Operating Segments \| Management/advisory fees \| Related party
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	1,100	1,200
Operating Segments \| Incentive fees
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	54	40,356	7,570
Operating Segments \| Incentive fees \| Related party
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	0	14,900
Operating Segments \| Other fees/income
Contract with Customer, Receivable, after Allowance for Credit Loss [Roll Forward]
Contract with customer, receivable	106	526	4,112
Deferred revenue	$ 0	$ 0	$ (422)

Description of the Business

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of the Business

AlTi Global, Inc. is a global wealth management firm, with a diverse array of investment, advisory, and administrative capabilities. The Company manages or advises approximately $77.3 billion in combined assets as of September 30, 2024. The Company provides holistic solutions for wealth management clients through a full spectrum of wealth management services, including discretionary investment management services, non-discretionary investment advisory services, trust services, administration services, and family office services. It also structures, arranges, and provides a network of investors with co-investment opportunities in a variety of alternative assets which are either managed intra-group or by carefully selected managers in the relevant asset class.

Business Combination

The Registrant 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 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 Registrant 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 Registrant 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 September 30, 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 September 30, 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 September 30, 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 CWC 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 September 30, 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 September 30, 2024. No Constellation Warrants were exercised during the current reporting period.

AlTi’s capital structure as of September 30, 2024 is reflected below:

The following table presents the number of shares of the Registrant that were issued and outstanding as of September 30, 2024 and December 31, 2023:


	As of September 30, 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) distribution 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, we are combining the results of these business and presenting 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 by year-end. Due to the change in the composition of our segments, prior period data has been recast for comparative purposes.

Wealth & Capital Solutions

The Wealth & Capital Solutions segment reflects the results of services provided to our client base that primarily consist of wealth and investment management and advisory services, trusts and administrative services, family office services, and the management fees, incentive fees, and distributions from investments received from with our interests in internal and external managers of alternative investment strategies (or “Alternatives Platform”). The wealth management client base includes 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 September 30, 2024 and December 31, 2023, this segment had $68.3 billion and $58.7 billion, respectively, in AUA.

Investment Management and Advisory Services

In our investment management and advisory services teams, we diversify our clients’ portfolios across risk factors, geographies, traditional asset classes such as money markets, equities and fixed income, and alternative asset classes including private equity, private debt, hedge funds, real estate, and other assets through highly experienced third-party managers.

Trusts and Administration Services

The trust and administration services we provide include entity formation and management, creating or modifying trust instruments and administrative practices to meet beneficiary needs, as well as comprehensive corporate, trustee-executor, and fiduciary services. We also offer a provision of directors and company secretarial services, administering entity ownership of intellectual property rights, advice and administration services in connection with investments in marine and aviation assets, and administering entity ownership of fine art and collectibles.

Family Office Services

Family office services are tailored outsourced family office solutions and administrative services which we provide primarily to our larger clients. These services include bookkeeping and back-office services, private foundation management and grantmaking, oversight of trust administration, financial tracking and reporting, cash flow management and bill pay, and other financial services.

Alternatives Platform

The alternatives platform embodies our legacy TIG business, which is an alternative asset manager and includes our TIG Arbitrage strategy and funds managed by our External Strategic Managers, predominantly for institutional investors. The TIG Arbitrage strategy is an event-driven strategy fund that earns management fees and incentive fees based on the performance of its underlying funds and accounts. The investment strategies of the External Strategic Managers include Real Estate Bridge Lending, European Equities and Asian Credit and Special Situations. Distributions are received from the External Strategic Managers through profit or revenue

sharing arrangements that are generated through management and incentive fees based on the performance of the underlying investments. As of September 30, 2024 and December 31, 2023, this platform had $7.3 billion and $7.6 billion, respectively, in AUA.

International Real Estate

The International Real Estate segment reflects the results of the Real Estate Co-Investment and Real Estate Fund Management businesses. As of September 30, 2024 and December 31, 2023, this segment had approximately $8.9 billion and $12.7 billion, respectively, in AUA.

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

Fees from our real estate fund management business are earned from management and advisory services.

Prior to the first quarter of 2024, our real estate fund management business managed two funds based in the United Kingdom, LXi REIT plc, a publicly traded real estate investment trust (“LXi”), and HLIF, a private fund. As described further below, during 2024 we exited the management of LXi.

On January 9, 2024, AlTi RE Public Markets Limited entered into heads of terms to sell 100% of the equity of LXi REIT Advisors Limited (“LRA”), the advisor to the publicly-traded fund LXi, to LondonMetric Property Plc (“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 Condensed Consolidated Statement of Financial Position as of September 30, 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 Condensed Consolidated Statement of Operations in the period of change.

This disposal was completed on March 6, 2024. As a result, the Company recognized an intangible asset impairment charge of $23.5 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. 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 nine months ended September 30, 2024, a net gain of $0.5 million was recorded in connection with the completion of this disposal. 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 Condensed 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 Condensed 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.

Investments - Cost and Fair Value of Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	$ 162,522	$ 163,157
Investment at Fair Value, Fair Value	168,127	165,894
Equity method investments, Cost	7,411	14,194
Equity method investments, Fair Value	7,411	14,194
Total Investments, Cost	169,933	177,351
Total Investments, Fair Value	175,538	180,088
Mutual funds
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	104	93
Investment at Fair Value, Fair Value	92	75
Exchange-traded funds
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	118	105
Investment at Fair Value, Fair Value	132	108
TIG Arbitrage Associates Master Fund
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	489	482
Investment at Fair Value, Fair Value	519	500
TIG Arbitrage Enhanced Master Fund
Schedule of Held-to-Maturity Securities [Line Items]
Investment at Fair Value, Cost	196	179
Investment at Fair Value, Fair Value	247	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	133	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	28,043	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	75,378	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	63,577	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	5,718	9,311
Equity method investments, Fair Value	5,718	9,311
Wealth management - investment advisory
Schedule of Held-to-Maturity Securities [Line Items]
Equity method investments, Cost	104	2,505
Equity method investments, Fair Value	104	2,505
Carried interest vehicles
Schedule of Held-to-Maturity Securities [Line Items]
Equity method investments, Cost	1,589	2,378
Equity method investments, Fair Value	$ 1,589	$ 2,378

Summary of Significant Accounting Policies - Prior Period Immaterial Corrections and Reclassfications (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retained earnings (accumulated deficit)	$ (238,810)		$ (238,810)		$ (193,527)
Accrued compensation and profit sharing	40,634		40,634		61,768
Goodwill	379,845		379,845		411,634	$ 530,547
Other liabilities, net	14,025		14,025		22,467
Accounts payable and accrued expenses	19,161		19,161		37,156
TRA Exchange	(127)	$ 655	(14,190)	$ 655
Revenues	53,343	48,186	153,608	157,518
Professional fees	11,002	13,340	29,974	51,087
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]
Revenues	$ 49,633	$ 44,004	$ 142,886	137,318
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				(1,700)
Revision of Prior Period, Reclassification, Adjustment \| Management/advisory fees
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues				$ (1,700)

Summary of Significant Accounting Policies - Segment Reporting (Details) - segment		9 Months Ended
	Jan. 03, 2023	Sep. 30, 2024
Accounting Policies [Abstract]
Number of operating segments	2	2

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

For the Three Months Ended

September 30, 2024

September 30, 2023

Basic

Diluted

Basic

Diluted

Class A Shares

Included

Class B Shares (1)

Excluded

If-converted method

Excluded

If-converted method

Series A Preferred Shares (2)

Two-class method

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

—

Series C Preferred Shares (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

None outstanding

Earn-Out Shares (6)

Excluded

Treasury stock method

Excluded

Unvested RSUs

Excluded

Treasury stock method

Excluded

Treasury stock method

Unvested PRSUs (7)

Excluded

Treasury stock method

—

Holbein Earn-In Shares (8)

Excluded

Treasury stock method

Excluded

Treasury stock method

For the Nine Months Ended

September 30, 2024

September 30, 2023

Basic

Diluted

Basic

Diluted

Class A Shares

Included

Class B Shares (1)

Excluded

If-converted method

Excluded

If-converted method

Series A Preferred Shares (2)

Two-class method

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

—

Series C Preferred Shares (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

Excluded

Treasury stock method

Earn-Out Shares(6)

Excluded

Treasury stock method

Excluded

Unvested RSUs

Excluded

Treasury stock method

Excluded

Treasury stock method

Unvested PRSUs (7)

Excluded

Treasury stock method

—

Holbein Earn-In Shares (8)

Excluded

Treasury stock method

Excluded

Treasury stock method


	For the Three Months Ended				For the Nine Months Ended
(Dollars in Thousands, except share data)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Net income (loss) attributable to controlling interest - basic and diluted	$	(76,053)	$	(89,671)	$	(63,340)	$	(115,671)
Net income (loss) available to the Company - diluted	$	(76,053)	$	(89,671)	$	(63,340)	$	(115,671)
Weighted-average shares of Class A Common Stock outstanding - basic	86,399,551		63,568,646		74,993,835		60,174,678
Weighted-average shares of Class A Common Stock outstanding - diluted	86,399,551		63,568,646		74,993,835		60,174,678
Income (loss) per Class A Common Stock - basic	$	(0.88)	$	(1.41)	$	(0.84)	$	(1.92)
Income (loss) per Class A Common Stock - diluted	$	(0.88)	$	(1.41)	$	(0.84)	$	(1.92)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following potentially dilutive instruments were excluded from the calculation of diluted net loss per share because their effect would have been antidilutive:


	For the Three Months Ended		For the Nine Months Ended
	September 30, 2024	September 30, 2023	September 30, 2024	September 30, 2023
Class B Common Stock and Class B Units	—	54,421,975	—	36,484,979
Warrants	7,000,000	—	7,000,000	6,657,084
Earn-Outs	12,847,052	10,396,318	12,909,938	10,396,318
Stock Awards	3,098,308	4,594,486	2,887,249	3,067,192

Investments (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

The Cost and Fair Value of Investments as of September 30, 2024 and December 31, 2023 are presented below:


	As of September 30, 2024				As of December 31, 2023
(Dollars in Thousands)	Cost		Fair Value		Cost		Fair Value
Investments at Fair Value:
Mutual funds	$	104	$	92	$	93	$	75
Exchange-traded funds	118		132		105		108
TIG Arbitrage Associates Master Fund	489		519		482		500
TIG Arbitrage Enhanced Master Fund	196		247		179		231
TIG Arbitrage Enhanced	—		—		682		776

Arkkan Opportunities Feeder Fund	111		133		111		119

Arkkan Capital Management Limited	20,062		28,043		20,062		24,822
Zebedee Asset Management	68,913		75,378		68,913		69,454
Romspen Investment Corporation (1)	72,523		63,577		72,523		69,802

Other	6		6		7		7

Total Investments at fair value	$	162,522	$	168,127	$	163,157	$	165,894

Equity method investments:
Real estate equity method investments	$	5,718	$	5,718	$	9,311	$	9,311
Wealth management - investment advisory	$	104	$	104	$	2,505	$	2,505
Carried interest vehicles	$	1,589	$	1,589	$	2,378	$	2,378
Total Equity method investments	7,411		7,411		14,194		14,194

Total	$	169,933	$	175,538	$	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 Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Gains (Losses) on Investments at FV:
Realized gains (losses)	$	5	$	—	$	12	$	—
Unrealized gains (losses)	5,878		(189)		2,955		1,675
Total gains (losses) on Investments at fair value	$	5,883	$	(189)	$	2,967	$	1,675

Revenue (Tables)

9 Months Ended

Sep. 30, 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 Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023

Management/advisory fees	$	49,633	$	44,004	$	142,886	$	137,318
Incentive fees	88		885		304		1,931
Distributions from investments	3,562		2,596		9,972		14,829
Other fees/income	60		701		446		3,440
Total Income	$	53,343	$	48,186	$	153,608	$	157,518

Schedule of Contract with Customer


(Dollars in Thousands)	As of September 30, 2024		As of December 31, 2023

Management/advisory fees receivable
Beginning balance	$	29,539	$	30,698
Ending balance (1)	33,603		29,539

Incentive fees receivable
Beginning balance	$	40,356	$	7,570
Ending balance (2)	54		40,356

Other fees/income receivable
Beginning balance	$	526	$	4,112
Ending balance	106		526

Deferred management/advisory fees
Beginning balance	$	(66)	$	(945)
Ending balance	(93)		(66)





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

(1) As of September 30, 2024 and December 31, 2023, this amount includes $1.1 million and $1.2 million, respectively, in Management/advisory fees receivable due from related parties. See Note 16 (Related Party Transactions) for further details.

(2) As of September 30, 2024 and December 31, 2023, this amount includes $0.0 million and $14.9 million, respectively, in Incentive fees receivable due from related parties. See Note 16 (Related Party Transactions) for further details.

Condensed Consolidated Statement of Financial Position (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 222,138	$ 15,348
Investments at fair value	168,127	165,894
Equity method investments	7,411	14,194
Intangible assets, net of accumulated amortization	479,727	435,677
Goodwill	379,845	411,634
Operating lease right-of-use assets	54,269	48,313
Other assets, net	58,404	48,182
Contingent consideration receivable	2,408	0
Assets held for sale	0	56,634
Total assets	1,406,092	1,266,297
Liabilities
Accounts payable and accrued expenses	19,161	37,156
Accrued compensation and profit sharing	40,634	61,768
Accrued member distributions payable	3,353	7,271
Warrant liabilities, at fair value	5,930	0
Earn-out liabilities, at fair value	54,795	63,444
TRA liability (includes $9,447 and $13,233 at fair value, respectively)	29,670	17,607
Preferred stock tranche liability	3,400	0
Delayed share purchase agreement	0	1,818
Earn-in consideration payable	942	1,830
Operating lease liabilities	65,615	56,123
Debt, net of unamortized deferred financing cost	128,422	186,353
Deferred tax liability, net	558	14,109
Deferred income	93	66
Other liabilities, net	14,025	22,467
Liabilities held for sale	0	13,792
Total liabilities	366,598	483,804
Commitments and contingencies (Note 19)
Shareholders’ equity
Additional paid-in capital	643,828	536,509
Retained earnings (accumulated deficit)	(238,810)	(193,527)
Accumulated other comprehensive income (loss)	3,322	9,155
Total AlTi Global, Inc. shareholders’ equity	707,019	352,144
Non-controlling interest in subsidiaries	332,475	430,349
Total shareholders’ equity	1,039,494	782,493
Total liabilities, mezzanine equity, and shareholders’ equity	1,406,092	1,266,297
Series A Preferred Stock
Mezzanine Equity
Preferred stock	141,330	0
Series C Preferred Stock
Mezzanine Equity
Preferred stock	157,340	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 $1,096 and $16,069 of related party receivables, respectively)	$ 33,763	$ 70,421

Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2024		As of December 31, 2023
Due from Certain TWMH Members, TIG GP Members and TIG MGMT Members	Other assets	$	488	$	712
Due from Equity Method Investees	Other assets	$	3,982	$	5,948
Due from Alvarium related fee arrangements	Fees receivable, net	$	289	$	247
Due from TIG related fee arrangements	Fees receivable, net	$	807	$	15,822

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	$	(29,670)	$	(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	$	(14,328)	$	(62,380)
AWMS earn-out liability	Earn-out liabilities, at fair value	$	(1,103)	$	(1,064)
AWMS deferred cash contribution	Other liabilities	$	—	$	(7,135)
Due to Equity Method Investees	Other liabilities	$	(246)	$	(1,277)
EEA earn-out liability	Earn-out liabilities, at fair value	$	(29,584)	$	—
PW deferred consideration	Other liabilities	$	(3,623)	$	—
Envoi earn-out consideration liability	Earn-out liabilities, at fair value	$	(8,620)	$	—
Envoi earn-out growth consideration liability	Earn-out liabilities, at fair value	$	(1,160)	$	—
Allianz warrant liabilities	Warrant liabilities, at fair value	$	(4,320)	$	—
Preferred stock tranche liability	Preferred stock tranche liability	$	(3,400)	$	—

Mezzanine Equity
Series A Preferred Stock	Series A Redeemable Cumulative Convertible Preferred Stock	$	141,330	$	—

Shareholders’ Equity
Delayed share purchase agreement	Additional paid-in capital	$	40	$	(1,178)


(Dollars in Thousands)	For the Three Months Ended				For the Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Management/advisory fees	$	(46)	$	(500)	$	263	$	500

Compensation and employee benefits	$	—	$	1,900	$	—	$	2,700
Other income/fees	$	5	$	300	$	(1,354)	$	(400)
Interest and dividend income (expense)	$	8	$	(12)	$	24	$	(33)

Debt, net of unamortized deferred financing cost - Narrative (Details) - USD ($)				3 Months Ended		9 Months Ended
	Jul. 31, 2024	Feb. 22, 2024	Jan. 03, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Nov. 10, 2023	Jun. 07, 2023
Debt Instrument [Line Items]
Borrowings on term notes and lines of credit						$ 89,862,000	$ 155,489,000
Debt, net of unamortized deferred financing cost				$ 128,422,000		128,422,000		$ 186,353,000
Warrant liabilities, at fair value				5,930,000		5,930,000		0
Gain (loss) on warrant liabilities				3,904,000	$ 0	3,973,000	(12,866,000)
Number of securities called by warrants or rights (in shares)										19,892,387
Preferred stock tranche liability				3,400,000		3,400,000		0
Gain (loss) on preferred stock tranche liability				1,140,000	$ 0	1,140,000	$ 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
Constellation warrant
Debt Instrument [Line Items]
Warrant liabilities, at fair value				1,600,000		1,600,000
Gain (loss) on warrant liabilities				1,300,000		1,400,000
Allianz warrant
Debt Instrument [Line Items]
Warrant liabilities, at fair value				4,300,000		4,300,000
Gain (loss) on warrant liabilities				2,600,000
Allianz Tranche Right \| Allianz Strategic Investments S.à.r.l. (“Allianz”) \| 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]
Borrowings on term notes and lines of credit			$ 124,400,000
Line of credit
Debt Instrument [Line Items]
Debt, net of unamortized deferred financing cost				128,422,000		128,422,000		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				37,414,000		37,414,000		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				$ 49,000,000.0		$ 49,000,000.0		$ 16,300,000
Weighted average interest rate (in percent)				9.40%		9.40%		9.00%
Debt, net of unamortized deferred financing cost				$ 91,008,000		$ 91,008,000		$ 93,750,000
Reduced credit facility amount									$ 50,000,000

Commitments and Contingencies (Details) $ / shares in Units, $ in Thousands										9 Months Ended	18 Months Ended
	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 ($)	Jan. 03, 2023 USD ($)	Sep. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($)	May 08, 2024	Apr. 12, 2024	Aug. 01, 2023	Dec. 31, 2022
Other Commitments [Line Items]
TRA liability										$ 29,670	$ 17,607
TRA liability, fair value										$ 9,447	13,233
Conversion ratio										1
Earn-out liabilities, at fair value										$ 54,795	$ 63,444
Percentage of losses sought													100.00%
Percentage decline in real estate investment portfolio											50.00%
Level 3
Other Commitments [Line Items]
TRA liability, fair value										9,447	$ 13,233
Alvarium, TWMH And TIG
Other Commitments [Line Items]
Earn-out liabilities, at fair value										14,300	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										14,328	62,380
AlTi Wealth Management (Switzerland) SA (“AWMS”)
Other Commitments [Line Items]
Earn-out liabilities, at fair value										1,100	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										1,100	$ 1,064
East End Advisors, LLC ("EEA")
Other Commitments [Line Items]
Earn-out liabilities, at fair value					$ 23,300					29,600
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										29,584
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										8,600
Envoi, LLC (“Envoi”) \| Envoi earn-out consideration liability \| Level 3
Other Commitments [Line Items]
Earn-out liabilities, at fair value										8,620
Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability
Other Commitments [Line Items]
Earn-out liabilities, at fair value										1,200
Envoi, LLC (“Envoi”) \| Envoi earn-out growth consideration liability \| Level 3
Other Commitments [Line Items]
Earn-out liabilities, at fair value										$ 1,160
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	$ 4.02		$ 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

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

9 Months Ended

Sep. 30, 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 Condensed Consolidated Statement of Financial Position.


(Dollars in Thousands)	As of September 30, 2024		As of December 31, 2023
Fixed assets, net:
Leasehold improvements	$	8,184	$	4,978
Office equipment and furniture	3,495		3,489
Foreign currency translation difference	(326)		(270)
Accumulated depreciation and amortization	(6,888)		(5,665)
Fixed assets, net	4,465		2,532
Accrued income	15,339		17,124
Prepaid expenses	12,477		8,045
Sundry receivables	6,161		5,664
Other receivables	14,080		12,204

Other assets	5,882		2,613
Other assets, net (1)	$	58,404	$	48,182

(1) As of September 30, 2024 and December 31, 2023, these amounts include $4.5 million and $6.7 million, respectively, in receivables due from related parties. See Note 16 (Related Party Transactions) for further details.

Schedule of Other Liabilities

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


(Dollars in Thousands)	As of September 30, 2024	As of December 31, 2023
AWMS deferred cash consideration	—	7,135
PW deferred consideration	3,623	—

Payroll	—	5,202
Corporation tax payable	5,040	—
Sundry	4,030	3,422
Other	1,332	6,709



Other Liabilities, net (1)	14,025	22,467

(1) As of September 30, 2024 and December 31, 2023, these amounts include $3.9 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 16 (Related Party Transactions) and Note 2 (Summary of Significant Accounting Policies), respectively, for further details.

Intangible Assets, net - Estimated Future Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024	$ 3,906
2025	15,622
2026	15,622
2027	15,622
2028 and beyond	227,955
Net Carrying Amount	$ 278,727	$ 189,777

Equity-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands										3 Months Ended		9 Months Ended		12 Months Ended	16 Months Ended
	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	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2022 $ / shares shares	Jan. 07, 2022 d
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized equity-based compensation expense										$ 23,800		$ 23,800			$ 23,800
Unrecognized equity-based compensation expense, weighted average recognition period (in years)												2 years 14 days
Share-based payment arrangement, expense										7,905	$ 6,222	$ 19,247	$ 39,356
Earn-in consideration payable										942		$ 942		$ 1,830	942
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		$ 900		$ 1,800	$ 900
Class A Common Stock \| TIH SPA
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
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										$ 3,076	$ 2,651	$ 8,168	$ 33,711
Number of shares vested in period (in shares) \| shares												1,823,811	2,534,202
Shares outstanding (in shares) \| shares										6,482,379	4,748,143	6,482,379	4,748,143	4,797,464	6,482,379	0
Shares issued in period (in shares) \| shares			2,219,661					4,697,317				4,123,786	7,395,306
Fair value of shares issued (in dollars per share) \| $ / shares			$ 4.78					$ 4.35		$ 4.90	$ 4.53	$ 4.90	$ 4.53	$ 4.64	$ 4.90	$ 0
Vesting period			3 years					3 years
Shares forfeited in period (in shares) \| shares												615,060	112,961
RSUs \| Share-Based Payment Arrangement, Employee
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense										$ 2,800	$ 1,600	$ 6,100	$ 3,100
Shares forfeited in period (in shares) \| shares															797,687
RSUs \| Board of directors
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense										$ 200	$ 500	$ 500	1,000
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			11,788,132
Available for grant (in shares) \| shares										947,740		947,740			947,740
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			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		$ 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										$ 100	$ 500	$ 1,000	$ 500
Shares issued in period (in shares) \| shares					29,154
Fair value of shares issued (in dollars per share) \| $ / shares					$ 5.36
Vesting period					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										1,715	0	$ 2,180	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
Earn-in awards \| Holbein Partners, LLP (“Holbein”)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense										700	2,400	$ 3,200	4,500
TIH SPA
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense										0	1,178	0	1,178
Revenue share
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense										435	0	799	0
Deferred compensation
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense										871	$ 0	3,245	$ 0
Equity Awards \| Envoi, LLC (“Envoi”)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense										100		100
Equity Awards \| East End Advisors, LLC ("EEA")
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense										700		1,000
Equity Awards \| Pointwise Partners Limited ("PW")
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense										$ 400		$ 600

Goodwill, net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Indefinite-lived intangible asset impairment		$ (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

- 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 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

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

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Description of the Business - Business Combination and Capital Structure (Details) $ / shares in Units, $ in Millions						3 Months Ended	6 Months Ended	9 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	Mar. 31, 2023 shares	Jun. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2024 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]
Assets under management \| $								$ 77,300.0
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 \| $							$ 29.5
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 \| $	$ 250.0
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 \| Allianz warrant
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Issuance of shares - exercise of warrants (in shares)								0
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 percentage of ownership	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	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 \| $				$ 50.0
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 \| $								$ 150.0
Preferred stock, outstanding (in shares)								150,000	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%

Earnings Per Share - Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Class B Common Stock and Class B Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	54,421,975	0	36,484,979
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	7,000,000	0	7,000,000	6,657,084
Earn-Outs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	12,847,052	10,396,318	12,909,938	10,396,318
Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	3,098,308	4,594,486	2,887,249	3,067,192

Related Party Transactions - Delayed Share Purchase Agreement (Details) - USD ($)		3 Months Ended	8 Months Ended	9 Months Ended
	Jul. 27, 2023	Sep. 30, 2024	Mar. 25, 2024	Sep. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Delayed share purchase agreement		$ 0		$ 0	$ 1,818,000
Share and cash compensation associated with delayed share purchase agreement		$ 0		$ 40,000
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

Fair Value Disclosures

9 Months Ended

Sep. 30, 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.

•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.

•Warrant Liabilities - The fair values of the Constellation and Allianz Warrants are determined based on Level 3 inputs using a Black-Scholes-Merton option pricing model to incorporate the non-linear nature of the payoff of the warrants associated with their strike price. The primary assumptions used in the Black-Scholes-Merton model are the price of the Company’s Class A Common Stock, the risk-free rate, the volatility, and the remaining term to the expiration of the warrants.

•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.


	As of September 30, 2024
	Level 1		Level 2		Level 3
(Dollars in Thousands)	Quoted Prices		Observable Inputs		Unobservable Inputs		Total
Assets:
Mutual funds	$	92	$	—	$	—	$	92
Exchange-traded funds	132		—		—		132
Investments – External Strategic Managers (1)	6		—		166,997		167,003
Investments – Affiliated Funds (2)	—		—		—		900
Contingent consideration receivable	—		—		2,408		2,408
Total	$	230	$	—	$	169,405	$	170,535

Liabilities:
Warrant liabilities	$	—	$	—	$	5,930	$	5,930
Preferred stock tranche liability	$	—	$	—	$	3,400	$	3,400
Earn-out liabilities	1,103		—		53,692		54,795

TRA liability (3)	—		—		9,447		9,447

Earn-in consideration payable	942		—		—		942
Total	$	2,045	$	—	$	72,469	$	74,514

(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 (3)	—		—		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.

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 Condensed Consolidated Statement of Operations. During the nine months ended September 30, 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 September 30, 2024 and December 31, 2023:


	Level 3 Liabilities as of September 30, 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		Warrant liabilities		Preferred stock tranche liability		Total
Beginning balance	$	13,233	$	62,380	$	1,064	$	—	$	—	$	—	$	—	$	—	$	76,677
Issuances	—		—		—		23,308		7,980		1,020		9,903		4,540		46,751
Settlements	—		—		—		—		—		—		—		—		—
Net gains/(losses)	(3,786)		(48,052)		39		6,276		640		140		(3,973)		(1,140)		(49,856)
Transfers out of Level 3	$	—	$	—	(1,103)		—		—		—		—		$	—	$	(1,103)
Ending balance	$	9,447	$	14,328	$	—	$	29,584	$	8,620	$	1,160	$	5,930	$	3,400	$	72,469


	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 September 30, 2024
(Dollars in Thousands)	Investments – External Strategic Managers		Contingent Consideration Receivable		Total
Beginning balance	$	164,077	$	—	$	164,077
Realized and Unrealized Gains (Losses)	2,920		473		3,393
Purchases	—		1,935		1,935

Ending balance	$	166,997	$	2,408	$	169,405


	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 September 30, 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	$	166,997	Discounted Cash Flow	Discount rate	20.0% -31%		Lower
				Long-term growth rate	4.0	%	Higher
Contingent consideration receivable	$	2,408	Monte Carlo	Risk-free rate	3.8	%	Higher
				Volatility	25.9	%	Lower
				Credit spread	1.0	%	Lower
Level 3 Liabilities:
TRA liability	$	9,447	Monte Carlo	Volatility	50.0	%	Lower
				Correlation	22.5	%	Higher
				Cost of debt range	9.5% - 10.1%		Lower
				Equity risk premium	6.8% - 13.4%		Lower
Business Combination earn-out liability	$	14,328	Monte Carlo	Volatility	60.0	%	Higher
				Risk-free rate	3.6	%	Higher




EEA earn-out liability	$	29,584	Discounted Cash Flow	EBITDA Discount Rate	15.5	%	Lower
				Risk-free rate	3.6	%	Lower
				Credit spread	9.1	%	Lower
Envoi earn-out consideration liability	$	8,620	Discounted Cash Flow	Growth rate	9.1	%	Higher
				Revenue risk-adjusted discount rate	11.5	%	Lower
				Risk-free rate	3.5	%	Lower
				Credit spread	11.2	%	Lower
Envoi earn-out growth consideration liability	$	1,160	Monte Carlo	Metric volatility	33.0	%	Lower
				Risk-free rate	3.6	%	Lower
				Revenue discount rate	11.5	%	Lower
				Credit Risk Adjusted Discount Rate	14.7	%	Lower
Warrant liabilities	$	5,930	Black-Scholes-Merton model	Volatility	45.0	%	Higher
				Risk-free rate	3.6	%	Higher
Preferred stock tranche liability	$	3,400	Binomial lattice model	Volatility	45.0	%	Higher
				Risk-free rate	4.1	%	Lower
				Credit spread	8.4	%	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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

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

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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

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

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

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

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

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Related Party Transactions - Pointwise Deferred Consideration (Details) - USD ($) $ in Thousands	May 09, 2024	Sep. 30, 2024	May 08, 2024	Dec. 31, 2023
Pointwise Partners Limited ("PW")
Related Party Transaction [Line Items]
Deferred cash consideration		$ (3,600)
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
Payment of assumed liabilities	3,300
Deferred cash consideration	$ (3,328)	$ (3,623)		$ 0

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating cash flow information:
Operating cash flow from operating leases	$ 6,276	$ 5,279
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$ 6,442	$ 2,416

Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases - Lease Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease expense	$ 3,814	$ 2,090	$ 9,357	$ 6,151
Variable lease expense	800	829	1,962	2,432
Short-term lease expense	61	194	187	606
Total lease expense	$ 4,675	$ 3,113	$ 11,506	$ 9,189

Summary of Significant Accounting Policies - Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Restricted cash and cash equivalents	$ 7.1	$ 5.4

Business Combinations and Divestitures - Business Combinations, Acquisitions and Fair Value of Net Assets Acquired and Intangibles (Details) $ / shares in Units, $ in Thousands								3 Months Ended	9 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 ($) segment $ / shares shares	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	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	1
Number of operating segments \| segment							2		2
Goodwill								$ 379,845	$ 379,845		$ 411,634						$ 530,547
Impairment									(44,900)		0
Earn-out liabilities, at fair value								54,795	54,795		63,444
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								379,845	379,845		321,154
International Real Estate
Business Acquisition [Line Items]
Goodwill								0	0		90,480
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
Debt issuance costs										4,600
Total purchase consideration transferred							$ 1,071,116
Earn-out consideration							85,097
Goodwill							$ 530,546
Useful life (in years)							23 years
Impairment									(44,900)
Cash consideration							$ 99,999
Earn-out liabilities, at fair value								14,300	14,300		62,400
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								379,800	379,800
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
Alvarium, TWMH And TIG \| Other assets
Business Acquisition [Line Items]
Debt issuance costs										$ 2,800
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
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
AlTi Wealth Management (Singapore) Pte Limited (“ALWP”)
Business Acquisition [Line Items]
Acquisition-related costs											400
Total purchase consideration transferred						$ 15,500
Goodwill						$ 3,836
Useful life (in years)						10 years
AlTi Wealth Management (Switzerland) SA (“AWMS”)
Business Acquisition [Line Items]
Voting interest acquired (in percent)					70.00%
Acquisition-related costs					$ 10
Total purchase consideration transferred					16,754
Earn-out consideration					2,721
Goodwill					$ 15,146
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
Remeasurement gain					1,900
Cash consideration					$ 5,711
Earn-out liabilities, at fair value								1,100	1,100		$ 1,100
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				$ 1,400
Total purchase consideration transferred				93,114
Goodwill				25,494
Cash consideration				69,013
Earn-out liabilities, at fair value				$ 23,300				29,600	29,600
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
Goodwill		$ 6,747
Equity interest (in percent)			50.00%
Equity interest, including subsequent acquisition (in percent)		100.00%
Fair value of existing equity method investment			$ 6,200
Remeasurement gain								$ 100	$ 4,500
Cash consideration		$ 1,735
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
Total purchase consideration transferred	34,258
Earn-out consideration	9,000
Goodwill	11,824
Cash consideration	25,258
Earn-out liabilities, at fair value	$ 9,000
Envoi, LLC (“Envoi”) \| Customer relationships
Business Acquisition [Line Items]
Useful life (in years)	15 years

Related Party Transactions - Due from TWMH Members (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($) anniversary	Mar. 14, 2024 USD ($)	Dec. 31, 2023 USD ($)
Related Party Transaction [Line Items]
Other receivables	$ 14,080		$ 14,080				$ 12,204
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	57	$ 65	173	$ 196
Other receivables	$ 500		$ 500				$ 700
Certain TWMH Member \| Promissory Notes \| Related party
Related Party Transaction [Line Items]
Debt instrument, face amount without debt forgiveness provision						$ 700

Equity	9 Months Ended
Equity	Sep. 30, 2024
Equity [Abstract]
Equity	Equity Class A Common Stock As of September 30, 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 September 30, 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 September 30, 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 September 30, 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 September 30, 2024.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Schedule of Lease Expense and Supplemental Cash Flow Information

The components of lease costs are as follows:


	For the Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Operating lease expense	$	3,814	$	2,090	$	9,357	$	6,151
Variable lease expense	800		829		1,962		2,432
Short-term lease expense	61		194		187		606
Total lease expense	$	4,675	$	3,113	$	11,506	$	9,189

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


	For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023
Operating cash flow information:
Operating cash flow from operating leases	$	6,276	$	5,279
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	6,442		2,416

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


	As of September 30, 2024		As of December 31, 2023
Weighted-average remaining lease term	11.39		11.94
Weighted-average discount rate	9.87	%	6.22	%

Schedule of Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments for the Company’s operating leases as of September 30, 2024, are as follows:


	Future Minimum Rental Operating Leases
(Dollars in Thousands)
Rest of 2024	$	2,025
2025	9,501
2026	8,768
2027	8,204
2028	7,207
2029 and beyond	60,696
Total lease payments	96,401
Less: Imputed interest	30,786
Present value of lease liabilities	$	65,615

Debt, net of unamortized deferred financing cost - Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Net Carrying Value	$ 128,422	$ 186,353
Line of credit
Debt Instrument [Line Items]
Debt Outstanding	131,200	188,750
Net Carrying Value	128,422	186,353
Fair Value	131,200	188,750
Term Loans \| Credit facility \| Line of credit
Debt Instrument [Line Items]
Debt Outstanding	40,192	95,000
Net Carrying Value	37,414	92,603
Fair Value	40,192	95,000
Revolving Credit Facility \| Credit facility \| Line of credit
Debt Instrument [Line Items]
Debt Outstanding	91,008	93,750
Net Carrying Value	91,008	93,750
Fair Value	$ 91,008	$ 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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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

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

Reference 26: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1

+ Details

- Definition

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

+ References + Details

Goodwill, net (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Reconciliation of Goodwill, Net

The following tables provide a reconciliation of Goodwill, net reported on the Condensed Consolidated Statement of Financial Position and Consolidated Statement of Financial Position as of September 30, 2024 and December 31, 2023, respectively.


	As of September 30, 2024
(Dollars in Thousands)	Wealth & Capital Solutions		International Real Estate		Total

Beginning Balance
Gross goodwill	$	321,154	$	90,480	$	411,634

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 US Asset Management (1)	$	40,625	$	(40,625)	$	—

Currency translation and other adjustments	3,368		(9,498)		(6,130)
	$	58,691	$	(90,480)	$	(31,789)
Ending Balance
Gross goodwill	$	379,845	$	—	$	379,845

Net goodwill	$	379,845	$	—	$	379,845

(1) As of September 30, 2024, the Company changed its segments. Prior year disclosures have not been restated. See Note 17 (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
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

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

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

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

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

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

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

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

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

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

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

+ Details

Related Party Transactions - Structure of Related Business Entities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Total income			$ (1,422)	$ (2,439)
Equity method investee
Related Party Transaction [Line Items]
Total income	$ 8	$ (12)	24	(33)
Management/advisory fees \| Equity method investee
Related Party Transaction [Line Items]
Total income	(46)	(500)	263	500
Compensation and employee benefits \| Equity method investee
Related Party Transaction [Line Items]
Total income	0	1,900	0	2,700
Other income/fees \| Equity method investee
Related Party Transaction [Line Items]
Total income	$ 5	$ 300	$ (1,354)	$ (400)

- Definition

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

+ References + Details

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies (a)Basis of Presentation The accompanying unaudited condensed consolidated financial statements comprise the financial statements of the Company and its subsidiaries. These condensed 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, and should be read in conjunction with the annual financial statements included in the Annual Report on Form 10-K filed by the Company on March 22, 2024 (as amended by the Company on Form 10-K/A filed with the SEC on April 5, 2024, the “Annual Report”). The notes are an integral part of the Company’s condensed consolidated financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s condensed consolidated financial statements have been included and are of a normal and recurring nature. The condensed 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. 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, 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 Condensed Consolidated Statement of Changes in Mezzanine Equity and Shareholders’ Equity. 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 Condensed Consolidated Statement of Operations as of September 30, 2023 of the previously reported amounts for the line items Management/advisory fees and Professional fees, decreasing both balances by $1.7 million. (c)Reclassifications Due to presentation changes that occurred during the first quarter ended March 31, 2024, we made certain reclassifications in our Condensed 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 and increase Accrued compensation and profit sharing. (d)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 condensed 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 condensed consolidated financial statements are reasonable and prudent, actual results could differ materially from those estimates. (e)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. (f)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 Condensed 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. (g)Distributions from Investments The Company has equity interests in three entities 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. (h)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 Condensed 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. (i)Restricted Cash and Cash Equivalents Restricted cash and cash equivalents consist of balances that are restricted as to withdrawal or usage. As of September 30, 2024 and December 31, 2023, restricted cash and cash equivalents amounted to $7.1 million and $5.4 million, respectively, and are included in the line item Cash and cash equivalents on the Condensed Consolidated Statement of Financial Position and Consolidated Statement of Financial Position, respectively. 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. (j)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 Condensed Consolidated Statement of Operations. (k)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 Condensed 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. (l)Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC 740. Under this method, deferred tax assets and liabilities are determined based on differences between the condensed 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 Condensed 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 be realized, meaning the likelihood of realization is greater 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. (m)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)), accrued payroll and payroll related taxes, accrued legal fees, and corporate taxes payable, among other miscellaneous payables. (n)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 Condensed Consolidated Statement of Financial Position with changes in fair value recorded in Loss on investments on the Condensed Consolidated Statement of Operations. Investments in Equity Securities. Equity securities are generally carried at fair value on the Condensed 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 Condensed 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 Condensed 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. 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. (o)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 Condensed 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. (p)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 Trade Names, Customer Relationships, Investment Management Agreements, 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 10 (Intangible Assets, net) for details on impairments. (q)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 13 (Goodwill, net) for details on impairments. (r)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 Condensed 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 Condensed 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 two to seven 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. (s)Debt Obligations, Net The Company’s debt obligations are recorded at amortized cost, net of any debt issuance costs, discounts and premiums. Debt issuances costs are deferred and along with discounts and premiums are amortized to interest expense in the Condensed 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 Condensed Consolidated Statement of Operations when the Company prepays borrowings prior to maturity. (t)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 Condensed 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 19 (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 Condensed 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 Condensed Consolidated Statement of Operations. (u)Warrant Liabilities The Company evaluated the Warrants issued in connection with the Business Combination in accordance with ASC 815-40 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 Condensed 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 14 (Debt, net of unamortized deferred financing) for detail on warrant transactions entered into by the Company. 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 and determined that a provision in the agreement related to a change of control adjustment would preclude equity classification as the Allianz and Constellation Warrants would no longer be a fixed-for-fixed option. The Allianz and Constellation Warrants meet the definition of a derivative and are recorded as a derivative liability on the balance sheet and measured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with any changes in fair value to be recognized in the Consolidated Statement of Operations in the period of change. As of September 30, 2024, none of the Constellation or Allianz Warrants have been exercised. (v)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 earn-out liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed Consolidated Statement of Cash Flows in the period of change. See Note 3 (Business Combinations and Divestitures) and Note 19 (Commitments and Contingencies) for further information. (w)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. (x)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. (y)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 Condensed 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 Condensed Consolidated Statement of Financial Position as of September 30, 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 Condensed Consolidated Statement of Operations in the period of change. (z)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 17 (Segment Reporting) for further information. (aa)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 Condensed 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 Condensed Consolidated Statement of Operations. (ab)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 Condensed Consolidated Statement of Operations. (ac)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 Condensed 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 Condensed Consolidated Statement of Operations. (ad)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. (ae)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 does not expect the impact of this guidance to be material to 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 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 unaudited condensed 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 condensed consolidated financial statements.

Fair Value Disclosures - Assets and Liabilities Measured At Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Investments at fair value	$ 168,127	$ 165,894
Contingent consideration receivable	2,408	0
Liabilities:
Warrant liabilities	5,930	0
Preferred stock tranche liability	3,400	0
Earn-out liabilities	54,795	63,444
TRA liability	9,447	13,233
Earn-in consideration payable	942	1,830
Mutual funds
Assets:
Investments at fair value	92	75
Exchange-traded funds
Assets:
Investments at fair value	132	108
Fair value, recurring
Assets:
Contingent consideration receivable	2,408
Total	170,535	165,894
Liabilities:
Warrant liabilities	5,930
Preferred stock tranche liability	3,400
Earn-out liabilities	54,795	63,444
TRA liability	9,447	13,233
Earn-in consideration payable	942	1,830
Total	74,514	78,507
Fair value, recurring \| Mutual funds
Assets:
Investments at fair value	92	75
Fair value, recurring \| Exchange-traded funds
Assets:
Investments at fair value	132	108
Fair value, recurring \| Investments – External Strategic Managers
Assets:
Investments at fair value	167,003	164,084
Fair value, recurring \| Investments – Affiliated Funds
Assets:
Investments at fair value	$ 900	$ 1,627
Liabilities:
Redemption, required notice (in days)	30 days	30 days
Level 1 \| Fair value, recurring
Assets:
Contingent consideration receivable	$ 0
Total	230	$ 190
Liabilities:
Warrant liabilities	0
Preferred stock tranche liability	0
Earn-out liabilities	1,103	0
TRA liability	0	0
Earn-in consideration payable	942	1,830
Total	2,045	1,830
Level 1 \| Fair value, recurring \| Mutual funds
Assets:
Investments at fair value	92	75
Level 1 \| Fair value, recurring \| Exchange-traded funds
Assets:
Investments at fair value	132	108
Level 1 \| Fair value, recurring \| Investments – External Strategic Managers
Assets:
Investments at fair value	6	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:
Warrant liabilities	0
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
Assets:
Investments at fair value	0	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	2,408
Liabilities:
Warrant liabilities	5,930
Preferred stock tranche liability	3,400
TRA liability	9,447	13,233
Level 3 \| Investments – External Strategic Managers
Assets:
Investments at fair value	166,997	164,077
Level 3 \| Fair value, recurring
Assets:
Contingent consideration receivable	2,408
Total	169,405	164,077
Liabilities:
Warrant liabilities	5,930
Preferred stock tranche liability	3,400
Earn-out liabilities	53,692	63,444
TRA liability	9,447	13,233
Earn-in consideration payable	0	0
Total	72,469	76,677
Level 3 \| Fair value, recurring \| Mutual funds
Assets:
Investments at fair value	0	0
Level 3 \| Fair value, recurring \| Exchange-traded funds
Assets:
Investments at fair value	0	0
Level 3 \| Fair value, recurring \| Investments – External Strategic Managers
Assets:
Investments at fair value	166,997	164,077
Level 3 \| Fair value, recurring \| Investments – Affiliated Funds
Assets:
Investments at fair value	$ 0	$ 0

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	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total revenue	$ 53,343	$ 54,954	$ 162,012	$ 176,681
Net income (loss)	$ (68,638)	$ (88,800)	$ (43,994)	$ (112,878)

Related Party Transactions - Related Party Transactions (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Shareholders’ Equity	$ 643,828		$ 536,509
Series A Preferred Stock
Related Party Transaction [Line Items]
Preferred stock	141,330	$ 0	0
Related party
Related Party Transaction [Line Items]
Shareholders’ Equity	40		(1,178)
Related party \| Series A Preferred Stock
Related Party Transaction [Line Items]
Preferred stock	141,330		0
Other assets \| Related party
Related Party Transaction [Line Items]
Related Party Receivables	4,500		6,700
Other assets \| Equity method investee
Related Party Transaction [Line Items]
Related Party Receivables	3,982		5,948
Fees receivable, net \| Related party \| Fees receivable
Related Party Transaction [Line Items]
Related Party Receivables	289		247
Other Liabilities \| Equity method investee
Related Party Transaction [Line Items]
Related Party Payables	(246)		(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)
Allianz warrant liabilities \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(4,320)		0
Preferred stock tranche liability \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(3,400)		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	488		712
Due from TIG related fee arrangements \| Fees receivable, net \| Related party \| Fees receivable
Related Party Transaction [Line Items]
Related Party Receivables	807		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	(29,670)		(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	(14,328)		(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	(1,103)		(1,064)
East End Advisors, LLC ("EEA") \| Earn-out liabilities, at fair value \| Related party
Related Party Transaction [Line Items]
Related Party Payables	(29,584)		0
Pointwise Partners Limited ("PW")
Related Party Transaction [Line Items]
Deferred cash consideration	(3,600)
Pointwise Partners Limited ("PW") \| Other Liabilities \| Related party
Related Party Transaction [Line Items]
Deferred cash consideration	(3,623)		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	(8,620)		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	$ (1,160)		$ 0

Equity Method Investments (Details) - USD ($)	3 Months Ended		9 Months Ended
Equity Method Investments (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity method investments	$ 7,411,000		$ 7,411,000		$ 14,194,000
Impairment on its equity method investments	0	$ 0	4,000,000	$ 300,000
Asset impairment charge	$ 0	$ 1,800,000	$ 68,300	$ 3,600,000

- 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

Equity-Based Compensation - Equity-Based Compensation Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 7,905	$ 6,222	$ 19,247	$ 39,356
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	3,076	2,651	8,168	33,711
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	1,715	0	2,180	0
Acquisition-related
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	1,809	2,394	4,854	4,468
TIH SPA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	0	1,178	0	1,178
Revenue share
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	435	0	799	0
Deferred compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 871	$ 0	$ 3,245	$ 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
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-Paragraph 2
-Subparagraph (a)(2)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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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)
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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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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (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
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
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+ Details

Goodwill, net - Reconciliation of Goodwill, Net (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Dec. 31, 2023
Goodwill
Gross goodwill, beginning balance		$ 411,634	$ 530,547
Net goodwill, beginning balance		411,634	530,547
Goodwill, period increase (decrease)		(31,789)	(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
Currency translation and other adjustments		(6,130)	15,974
Gross goodwill, ending balance		379,845	411,634
Net goodwill, ending balance		379,845	411,634
Wealth & Capital Solutions
Goodwill
Gross goodwill, beginning balance		321,154
Net goodwill, beginning balance		321,154
Goodwill, period increase (decrease)		58,691
Goodwill acquired during the period		44,065
Impairment charges		(29,367)
Resegmentation of US Asset Management		40,625
Currency translation and other adjustments		3,368
Gross goodwill, ending balance		379,845	321,154
Net goodwill, ending balance		379,845	321,154
International Real Estate
Goodwill
Gross goodwill, beginning balance		90,480
Net goodwill, beginning balance		90,480
Goodwill, period increase (decrease)		(90,480)
Goodwill acquired during the period		0
Impairment charges		(40,357)
Resegmentation of US Asset Management		(40,625)
Currency translation and other adjustments		(9,498)
Gross goodwill, ending balance		0	90,480
Net goodwill, ending balance		0	90,480
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
Strategic Alternatives
Goodwill
Gross goodwill, beginning balance		90,480	232,429
Net goodwill, beginning balance		$ 90,480	232,429
Goodwill, period increase (decrease)			(141,949)
Goodwill acquired during the period			0
Impairment charges			(153,859)
Currency translation and other adjustments			11,910
Gross goodwill, ending balance			90,480
Net goodwill, ending balance			$ 90,480

Leases - Weighted-average Remaining Lease Term And Discount Rate (Details)	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted-average remaining lease term (in years)	11 years 4 months 20 days	11 years 11 months 8 days
Weighted-average discount rate (in percent)	9.87%	6.22%

Other assets, net and Other liabilities, net - Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	May 09, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Payroll	$ 0		$ 5,202
Corporation tax payable	5,040		0
Sundry	4,030		3,422
Other	1,332		6,709
Other liabilities, net	14,025		22,467
Related party
Property, Plant and Equipment [Line Items]
Other liabilities, net	3,900		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	$ 3,623	$ 3,328	$ 0

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

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 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 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 September 30, 2024 and December 31, 2023, the liability associated with the TRA was approximately $29.7 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 September 30, 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 Class B shares) 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 $4.02 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 September 30, 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 $29.7 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 September 30, 2024 and December 31, 2023, the fair value of the earn-out shares was $14.3 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. As of September 30, 2024 and December 31, 2023, the AWMS earn-out liability of $1.1 million and $1.1 million, respectively, is reported in Earn-out liabilities, at fair value, in the Condensed 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 Condensed 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 earn-out liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed 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 September 30, 2024, the EEA earn-out liability of $29.6 million is reported in Earn-out liabilities, at fair value, in the Condensed 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 Condensed 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 earn-out liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed 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 Condensed 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 September 30, 2024,the Envoi earn-out consideration liability of $8.6 million and the Envoi earn-out growth consideration liability of $1.2 million are reported in the Earn-out liabilities, at fair value, in the Condensed 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 earn-out liabilities in the Condensed Consolidated Statement of Operations and in Fair value of earn-out liabilities in the Condensed Consolidated Statement of Cash Flows in the period of change. See Note 2 (Summary of Significant Accounting Policies) for additional detail. 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 September 30, 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 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 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.

Fair Value Disclosures - Changes In Fair Value of Level 3 Measurements (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			$ 76,677,000	$ 106,280,000	$ 106,280,000
Issuances			46,751,000		2,721,000
Settlements			0		0
Net gains/(losses)			(49,856,000)		(30,494,000)
Transfers out of Level 3			(1,103,000)		(1,830,000)
Ending balance	$ 72,469,000		72,469,000		76,677,000
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			164,077,000	146,130,000	146,130,000
Realized and Unrealized Gains (Losses)			3,393,000		2,580,000
Purchases			1,935,000		15,367,000
Ending balance	169,405,000		169,405,000		164,077,000
TRA liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			13,233,000	13,000,000	13,000,000
Issuances			0		0
Settlements			0		0
Net gains/(losses)			(3,786,000)		233,000
Transfers out of Level 3			0		0
Ending balance	9,447,000		9,447,000		13,233,000
Earn-out liability \| Alvarium, TWMH And TIG
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			62,380,000	91,761,000	91,761,000
Issuances			0		0
Settlements			0		0
Net gains/(losses)	(9,700,000)	$ (9,300,000)	(48,052,000)	(46,200,000)	(29,381,000)
Transfers out of Level 3			0		0
Ending balance	14,328,000		14,328,000		62,380,000
Earn-out liability \| AlTi Wealth Management (Switzerland) SA (“AWMS”)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			1,064,000	0	0
Issuances			0		2,721,000
Settlements			0		0
Net gains/(losses)	3,000		39,000		(1,657,000)
Transfers out of Level 3			(1,103,000)		0
Ending balance	0		0		1,064,000
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			23,308,000
Settlements			0
Net gains/(losses)	5,600,000		6,276,000
Transfers out of Level 3			0
Ending balance	29,584,000		29,584,000		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			7,980,000
Settlements			0
Net gains/(losses)			640,000
Transfers out of Level 3			0
Ending balance	8,620,000		8,620,000		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			1,020,000
Settlements			0
Net gains/(losses)			140,000
Transfers out of Level 3			0
Ending balance	1,160,000		1,160,000		0
Warrant liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			0
Issuances			9,903,000
Settlements			0
Net gains/(losses)			(3,973,000)
Transfers out of Level 3			0
Ending balance	5,930,000		5,930,000		0
Preferred stock tranche liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			0
Issuances			4,540,000
Settlements			0
Net gains/(losses)			(1,140,000)
Transfers out of Level 3			0
Ending balance	3,400,000		3,400,000		0
Earn-in consideration payable
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			0	1,519,000	1,519,000
Issuances					0
Settlements					0
Net gains/(losses)					311,000
Transfers out of Level 3					(1,830,000)
Ending balance					0
Investments – External Strategic Managers
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			164,077,000	$ 146,130,000	146,130,000
Realized and Unrealized Gains (Losses)			2,920,000		2,580,000
Purchases			0		15,367,000
Ending balance	166,997,000		166,997,000		164,077,000
Contingent Consideration Receivable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance			0
Realized and Unrealized Gains (Losses)			473,000
Purchases			1,935,000
Ending balance	$ 2,408,000		$ 2,408,000		$ 0

Investments - Unrealized Gains (Losses) and Realized Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Realized gains (losses)	$ 5	$ 0	$ 12	$ 0
Unrealized gains (losses)	5,878	(189)	2,955	1,675
Total gains (losses) on Investments at fair value	$ 5,883	$ (189)	$ 2,967	$ 1,675

Goodwill, net

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, net


	As of September 30, 2024
(Dollars in Thousands)	Wealth & Capital Solutions		International Real Estate		Total

Beginning Balance
Gross goodwill	$	321,154	$	90,480	$	411,634

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 US Asset Management (1)	$	40,625	$	(40,625)	$	—

Currency translation and other adjustments	3,368		(9,498)		(6,130)
	$	58,691	$	(90,480)	$	(31,789)
Ending Balance
Gross goodwill	$	379,845	$	—	$	379,845

Net goodwill	$	379,845	$	—	$	379,845

(1) As of September 30, 2024, the Company changed its segments. Prior year disclosures have not been restated. See Note 17 (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 September 30, 2024. We determined that triggering events had occurred due to changes in the composition of the our reporting units in addition to declining revenues and increased expenses associated with the Real Estate Businesses. As such, an interim goodwill impairment test of the reporting units was performed prior to their realignment. During the nine months ended September 30, 2024, the Company recognized an impairment charge of $44.9 million related to TIG’s Investment management agreements (“IMA”), which is classified as an indefinite-lived intangible asset. See Note 10 (Intangible Assets, Net) for further details. Additionally, during the nine months ended September 30, 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 IMA and financial projections, discount rate, and market multiples for goodwill. As of September 30, 2024, all goodwill allocated to the International Real Estate segment is written off. See Note 17 (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 Strategic Alternatives reporting unit was impaired. Accordingly, the Company performed a goodwill impairment test, which compared the estimated fair value of the legacy Strategic Alternatives 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 Strategic Alternatives 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.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 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

Condensed Consolidated Statement of Changes in Mezzanine Equity and Shareholders’ Equity (Unaudited) - 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)	Accumulated other comprehensive income	Accumulated other comprehensive income Family Office Service ("FOS")	Accumulated other comprehensive income 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
Beginning balance (in shares) at Dec. 31, 2022																		55,388,023		55,032,961
Beginning balance at Dec. 31, 2022	$ 1,013,653				$ 434,620		$ (27,946)	$ 0			$ 606,973							$ 6		$ 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)	(234,928)						(115,671)				(119,257)
Currency translation adjustment	7,927							4,353			3,574
Cancellation of AHRA call option				$ 153										$ 153
Other comprehensive income	(610)							(335)			(275)
Payment for partner's tax	(998)				(998)
Share based compensation	5,095				5,095
Issuance of shares for business combination	1,377				1,377
TRA Exchange	655				13,910						(13,255)
Deconsolidation				0		$ 28,768								(28,768)
Conversion of Class B shares (in shares)																		1,813,248		(1,813,248)
Issuance of shares - exercise of warrants (in shares)																		5,469,637
Issuance of shares - exercise of warrants	29,479				29,479
Ending balance (in shares) at Sep. 30, 2023																		64,770,908		53,219,713
Ending balance at Sep. 30, 2023	842,803				533,251		(143,617)	4,018			449,145							$ 6		$ 0
Ending balance (in shares) at Dec. 31, 2023															0	0
Ending balance at Dec. 31, 2023															$ 0	$ 0
Beginning balance (in shares) at Dec. 31, 2022																		55,388,023		55,032,961
Beginning balance at Dec. 31, 2022	1,013,653				434,620		(27,946)	0			606,973							$ 6		$ 0
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
Beginning balance (in shares) at Jun. 30, 2023																		62,957,671		55,032,961
Beginning balance at Jun. 30, 2023	1,020,485				515,000		(53,946)	9,182			550,243							$ 6		$ 0
Shareholders’ Equity
Net income (loss)	(172,768)						(89,671)				(83,097)
Currency translation adjustment	(9,981)							(5,193)			(4,788)
Cancellation of AHRA call option				$ (1)										$ (1)
Other comprehensive income	72							29			43
Share based compensation	2,964				2,964
Issuance of shares for business combination	1,377				1,377
TRA Exchange	655				13,910						(13,255)
Conversion of Class B shares (in shares)																		1,813,248		(1,813,248)
Issuance of shares - exercise of warrants (in shares)																		(11)
Ending balance (in shares) at Sep. 30, 2023																		64,770,908		53,219,713
Ending balance at Sep. 30, 2023	842,803				533,251		(143,617)	4,018			449,145							$ 6		$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of preferred shares (in shares)															140,000	150,000
Issuance of preferred shares, net of issuance costs	280,612														$ 137,652	$ 142,960
Preferred share dividend															$ 3,678	$ 14,380
Ending balance (in shares) at Sep. 30, 2024															140,000	150,000
Ending balance at Sep. 30, 2024															$ 141,330	$ 157,340
Beginning balance (in shares) at Dec. 31, 2023																	65,110,875	65,110,875	53,219,713	53,219,713
Beginning balance at Dec. 31, 2023	782,493				536,509		(193,527)	9,155			430,349							$ 7		$ 0
Shareholders’ Equity
Net income (loss)	(98,619)						(45,283)				(53,336)
Currency translation adjustment	(7,151)							(4,803)			(2,348)
Other comprehensive income	148							99			49
Payment for partner's tax	(3,225)				(3,225)
Preferred share dividend					(18,058)
Preferred share dividend, including adjustments	0
Share based compensation	13,892				13,892
Issuance of shares for business combination	1,026				1,026
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
TRA Exchange (in shares)																		7,080,837		(7,080,837)
TRA Exchange	(14,190)				27,299						(41,489)
Deconsolidation		$ (509)	$ (1,370)						$ (306)	$ (823)		$ (203)	$ (547)
Ending balance (in shares) at Sep. 30, 2024																	93,686,980	93,686,980	46,138,876	46,138,876
Ending balance at Sep. 30, 2024	1,039,494				643,828		(238,810)	3,322			332,475							$ 9		$ 0
Beginning balance (in shares) at Jun. 30, 2024															0	150,000
Beginning balance at Jun. 30, 2024															$ 0	$ 153,442
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of preferred shares (in shares)															140,000
Issuance of preferred shares, net of issuance costs	137,813														$ 137,652	161
Preferred share dividend															$ 3,678	$ 3,737
Ending balance (in shares) at Sep. 30, 2024															140,000	150,000
Ending balance at Sep. 30, 2024															$ 141,330	$ 157,340
Beginning balance (in shares) at Jun. 30, 2024																		72,167,195		47,978,953
Beginning balance at Jun. 30, 2024	923,521				549,998		(170,172)	6,942			383,304							$ 7		$ 0
Shareholders’ Equity
Net income (loss)	(111,405)						(68,638)				(42,767)
Currency translation adjustment	(4,222)							(3,592)			(630)
Other comprehensive income	(63)							(28)			(35)
Payment for partner's tax	(1,343)				(1,343)
Preferred share dividend	0				(7,415)
Share based compensation	4,818				4,818
Issuance of shares for business combination	78				78
Shares issued to employees on vesting of equity awards (in shares)																		361,127
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
TRA Exchange (in shares)																		1,840,077		(1,840,077)
TRA Exchange	(127)				7,270						(7,397)
Ending balance (in shares) at Sep. 30, 2024																	93,686,980	93,686,980	46,138,876	46,138,876
Ending balance at Sep. 30, 2024	$ 1,039,494				$ 643,828		$ (238,810)	$ 3,322			$ 332,475							$ 9		$ 0

Revenue

9 Months Ended

Sep. 30, 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 Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023

Management/advisory fees	$	49,633	$	44,004	$	142,886	$	137,318
Incentive fees	88		885		304		1,931
Distributions from investments	3,562		2,596		9,972		14,829
Other fees/income	60		701		446		3,440
Total Income	$	53,343	$	48,186	$	153,608	$	157,518


(Dollars in Thousands)	As of September 30, 2024		As of December 31, 2023

Management/advisory fees receivable
Beginning balance	$	29,539	$	30,698
Ending balance (1)	33,603		29,539

Incentive fees receivable
Beginning balance	$	40,356	$	7,570
Ending balance (2)	54		40,356

Other fees/income receivable
Beginning balance	$	526	$	4,112
Ending balance	106		526

Deferred management/advisory fees
Beginning balance	$	(66)	$	(945)
Ending balance	(93)		(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
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
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-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
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Other assets, net and Other liabilities, net

9 Months Ended

Sep. 30, 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 Condensed Consolidated Statement of Financial Position.


(Dollars in Thousands)	As of September 30, 2024		As of December 31, 2023
Fixed assets, net:
Leasehold improvements	$	8,184	$	4,978
Office equipment and furniture	3,495		3,489
Foreign currency translation difference	(326)		(270)
Accumulated depreciation and amortization	(6,888)		(5,665)
Fixed assets, net	4,465		2,532
Accrued income	15,339		17,124
Prepaid expenses	12,477		8,045
Sundry receivables	6,161		5,664
Other receivables	14,080		12,204

Other assets	5,882		2,613
Other assets, net (1)	$	58,404	$	48,182

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


(Dollars in Thousands)	As of September 30, 2024	As of December 31, 2023
AWMS deferred cash consideration	—	7,135
PW deferred consideration	3,623	—

Payroll	—	5,202
Corporation tax payable	5,040	—
Sundry	4,030	3,422
Other	1,332	6,709



Other Liabilities, net (1)	14,025	22,467

Equity-Based Compensation

9 Months Ended

Sep. 30, 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 947,740 remain available as of September 30, 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 September 30, 2024, the Company has an unrecognized equity-based compensation expense of $23.8 million, which is expected to be recognized over a weighted average period of 2.04 years.

The following table summarizes the equity-based compensation award activity for the nine months ended September 30, 2024, and September 30, 2023:


	September 30, 2024			September 30, 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	4,123,786	5.19		7,395,306	6.40
Restricted common stock forfeited	(615,060)	4.51		(112,961)	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	6,482,379	$	4.90	4,748,143	$	4.53


	For the Three Months Ended				For the Nine Months Ended
(Dollars in Thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
RSUs	$	3,076	$	2,651	$	8,168	$	33,711
PRSUs	1,715		—		2,180		—
Acquisition-related	1,809		2,394		4,854		4,468
TIH SPA	—		1,178		—		1,178
Revenue share	435		—		799		—
Deferred compensation	871		—		3,245		—
Total	$	7,905	$	6,222	$	19,247	$	39,356

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 nine months ended September 30, 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 nine months ended September 30, 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 $0.2 million and $0.5 million for the three months ended September 30, 2024 and September 30, 2023, respectively, and $1.0 million and $0.5 million for the nine months ended September 30, 2024 and September 30, 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 $2.8 million and $1.6 million for the three months ended September 30, 2024 and September 30, 2023, respectively, and $6.1 million and $3.1 million for the nine months ended September 30, 2024 and September 30, 2023, respectively. Since the initial grant date of these awards, 797,687 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. The Company recognized compensation expense of $0.1 million and $0.5 million for the three months ended September 30, 2024 and September 30, 2023, respectively, and $1.0 million and $0.5 million for the nine months ended September 30, 2024 and September 30, 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. 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 $1.7 million and $2.2 million for the three and nine months ended September 30, 2024, respectively.

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 $0.7 million and $2.4 million for the three months ended September 30, 2024, and September 30, 2023, respectively, and $3.2 million and $4.5 million for the nine months ended September 30, 2024, and September 30, 2023, 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 September 30, 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 Condensed Consolidated Statement of Financial Condition and Consolidated Statement of Financial Condition, respectively.

In connection with the Company’s acquisition of EEA (see Note 3 Business Combinations and Divestitures), certain employees of EEA 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 and the fifth anniversary of the closing date, which is April 1, 2024. The portion of the EEA Earn-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 $0.7 million and $1.0 million for the three and nine months ended September 30, 2024, respectively.

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 $0.4 million and $0.6 million for the three and nine months ended September 30, 2024, respectively.

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 both the three and nine months ended September 30, 2024, respectively.

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 both the three and nine months ended September 30, 2023, respectively, which is included in Compensation and employee benefits in the Condensed Consolidated Statement of Operations.

Revenue Share

During the three and nine months ended September 30, 2024, the Company accrued $0.4 million and $0.8 million, respectively, in compensation expense related to various revenue share arrangements to its employees, which is included in Compensation and employee benefits in the Condensed Consolidated Statement of Operations and in Accrued compensation and profit sharing in the Condensed Consolidated Statement of Financial Position.

Deferred Compensation Liability

In connection with the ALWP Acquisition, during the three and nine months ended September 30, 2024, the Company accrued $0.9 million and $3.2 million, respectively, in shares of Class A Common Stock which is included in Compensation and employee benefits in the Condensed Consolidated Statement of Operations and in Accrued compensation and profit sharing in the Condensed Consolidated Statement of Financial Position.

Debt, net of unamortized deferred financing cost - Contractual Maturities of the Term Loans (Details) - Line of credit - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Aggregate Maturities
Total	$ 131,200	$ 188,750
Term Loans \| Credit facility
Aggregate Maturities
Rest of 2024	1,250
2025	7,500
2026	10,000
2027	10,000
2028	11,442
Total	$ 40,192	$ 95,000