these revenues are recorded under revenues from assets under management ( `` aum `` ) or administration ( `` aua `` ) or collectively ( `` aum/a `` ) . our asset-based fees vary based on the types of investment solutions and services that financial advisors utilize . asset-based fees accounted for approximately 84 % , 83 % and 81 % of our total revenues for the years ended december 31 , 2014 , 2013 and 2012 , respectively . in future periods , the percentage of our total revenues attributable to asset-based fees is expected to vary based on fluctuations in securities markets , whether we enter into significant license agreements , the mix of aum or aua , and other factors . as of december 31 , 2014 , approximately $ 246 billion of investment assets subject to asset-based fees were managed or administered utilizing our technology platforms by approximately 29,000 financial advisors through approximately 978,000 investor accounts . we also generate revenues from recurring , contractual licensing fees for providing access to our technology platforms . these revenues are recorded under revenues from licensing and professional services . licensing fees are generally fixed in nature for the contract term and are based on the level of investment solutions and services provided , rather than on the amount of client assets on our technology platforms . licensing fees accounted for 14 % , 15 % and 15 % of our total revenues for the years ended december 31 , 2014 , 2013 and 2012 , respectively . fees received in connection with professional services and other revenue accounted for the remainder of our total revenues . as of december 31 , 2014 , approximately $ 467 billion of investment assets for which we receive licensing fees for utilizing our technology platforms were serviced by approximately 12,000 financial advisors through approximately 1,881,000 investor accounts . 39 the following table provides information regarding the amount of assets utilizing our platform technology , investor accounts and financial advisors in the periods indicated . replace_table_token_7_th revenues from assets under management or administration we generally charge our customers fees based on a higher percentage of the market value of aum than the fees we charge on the market value of aua , because we provide fiduciary oversight and or act as the investment advisor in connection with assets we categorize as aum . the level of fees varies based on the nature of the investment solutions and services we provide , as well as the specific investment manager , fund and or custodian chosen by the financial advisor . a portion of our revenues from assets under management or administration include costs paid by us to third parties for sub-advisory , clearing , custody and brokerage services . these expenses are recorded under cost of revenues . we do not have fiduciary responsibility in connection with aua and , therefore , generally charge lower fees on these assets . our fees for aua vary based on the nature of the investment solutions and services we provide . for over 85 % of our revenues from assets under management or administration , we bill customers at the beginning of each quarter based on the market value of customer assets on our platforms as of the end of the prior quarter . for example , revenues from assets under management or administration recognized during the fourth quarter of 2014 were primarily based on the market value of assets as of september 30 , 2014. our revenues from assets under management or administration are generally recognized ratably throughout the quarter based on the number of days in the quarter . our revenues from assets under management or administration are affected by the amount of new assets that are added to existing and new client accounts , which we refer to as gross sales . gross sales , from time to time , also include conversions of client assets to our technology platforms . the amount of assets that are withdrawn from client accounts are referred to as redemptions . we refer to the difference between gross sales and redemptions as net flows . positive net flows indicate that the market value of assets added to client accounts exceeds the market value of assets that have been withdrawn from client accounts . 40 our revenues from assets under management or administration are also affected by changes in the market values of securities held in client accounts due to fluctuations in the securities markets . certain types of securities have historically experienced greater market price fluctuations , such as equity securities , than other securities , such as fixed income securities , though in any given period the type of securities that experience the greatest fluctuations may vary . the following table provides information regarding the degree to which gross sales , redemptions , net flows and changes in the market values of assets contributed to changes in aum or aua in the periods indicated . replace_table_token_8_th the above aum/a gross sales figures include $ 28.2 billion in new client conversions . the company onboarded an additional $ 66.9 billion in licensing conversions during 2014 , bringing total conversions for the year to $ 95.1 billion . replace_table_token_9_th the above aum/a gross sales figures include $ 24.5 billion in new client conversions . the company onboarded an additional $ 33.6 billion in licensing conversions during 2013 , bringing total conversions for the year to $ 58.1 billion . the mix of assets under management and assets under administration was as follows as of the dates indicated : replace_table_token_10_th we expect the percentage of aum and aua will fluctuate in future periods . the nature and type of services requested by our customers are the key drivers in determining whether customer assets are classified as aum or aua . therefore , we do not have direct control over the mix of aum and aua . story_separator_special_tag in certain cases , management is required to determine whether revenues should be recognized in an amount equal to the gross fees we receive or net of payments of expenses to third-parties , such as third party investment managers and 46 custodians , that perform services for us in connection with certain of our financial advisors ' client accounts . generally , when fees are collected for investment management , clearing , custody or brokerage services in circumstances where we do not have a direct contract with the third-party provider , the fees are recorded as revenue on a net basis . fees we received in advance of the performance of services are recorded as deferred revenues on our consolidated balance sheet and are recognized as revenues when earned , generally over three months . the company derives licensing fees from recurring contractual fixed fee contracts with larger financial institutions or enterprise clients . licensing contracts allow the customer to provide a unique configuration of platform features and investment solutions for their advisors . the licensing fees vary based on the type of services provided and our revenues received under license agreements are recognized over the contractual term . the company 's license agreements do not generally provide its customers the ability to take possession of the software or host the software on the customers ' own systems or through a hosting arrangement with an unrelated party . when the company enters into arrangements with multiple deliverables , exclusive of arrangements with software deliverables , it applies the fasb 's guidance for revenue arrangements with multiple deliverables and evaluates each deliverable to determine whether it represents a separate unit of accounting based on the following criteria : ( i ) whether the delivered item has value to the customer on a stand-alone basis , and ( ii ) if the contract includes a general right of return relative to the delivered item , delivery or performance of the undelivered item ( s ) is considered probable and substantially in the control of the company . revenue is allocated to each unit of accounting or element based on relative selling prices . the company determines relative selling prices by using either ( a ) vendor-specific objective evidence ( `` vsoe `` ) if it exists ; or ( b ) third-party evidence ( `` tpe `` ) of selling price . when neither vsoe nor tpe of selling price exists for a deliverable , the company uses its best estimate of the selling price for that deliverable . after determining which deliverables represent a separate unit of accounting , each unit is then accounted for under the applicable revenue recognition guidance . in cases where elements can not be treated as separate units of accounting , the elements are combined into a single unit of accounting for revenue recognition purposes . if one of the elements that are combined into a single unit of accounting is fees from professional services , including implementation related services or customized service platform software development , the professional service fees are recognized over the course of the expected customer relationship . we have estimated the life of the customer relationship by considering both the historical retention rate of our customers while not exceeding the number of years over which we can accurately forecast future revenues . we currently estimate this term to be five years . the company also derives professional service fees from providing contractual customized platform software development and implementation services , which are recognized under a proportional-performance model utilizing an output-based approach . the company 's contracts generally have fixed prices , and generally specify or quantify deliverables . our revenue recognition is also affected by our judgment in determining whether collectability is reasonably assured . with regard to allowances for uncollectible receivables , we consider customer-specific information related to delinquent accounts and past loss experience , as well as current economic conditions in establishing the amount of the allowance . purchase accounting in 2012 , we completed the acquisitions of prima and tamarac for consideration totaling $ 13,925 and $ 48,427 , respectively . in 2013 , the company completed the acquisition of wms for total consideration of $ 24,730. in 2014 , ers , llc completed the acquisition of klein for total consideration of $ 5,588. in the fourth quarter of 2014 , the company completed the acquisition of placemark for total 47 consideration of $ 66,701. for more information on the acquisitions see note 3 to the notes to consolidated financial statements . assigning fair market values to the assets acquired and liabilities assumed at the date of an acquisition requires knowledge of current market values , and the values of assets in use , and often requires the application of judgment regarding estimates and assumptions . while the ultimate responsibility resides with management , for material acquisitions , we retain the services of certified valuation specialists to assist with assigning estimated values to certain acquired assets and assumed liabilities , including intangible assets and contingent consideration . acquired intangible assets , excluding goodwill , are valued using a discounted cash flow methodology based on future cash flows specific to the type of intangible asset purchased . this methodology incorporates various estimates and assumptions , the most significant being projected revenue growth rates , margins , and forecasted cash flows based on the discount rate and terminal growth rate . management projects revenue growth rates , margins and cash flows based on the historical operating results of the acquired entity adjusted for synergies anticipated to be achieved through integration , expected future performance , operational strategies , and the general macroeconomic environment . we review finite-lived intangible assets for triggering events such as significant changes in operations , customers or future revenue that might indicate the need to impair the assets acquired or change the useful lives of the assets acquired . there was no impairment or change in

liquidity and capital resources as of december 31 , 2014 , we had total cash and cash equivalents of $ 209,754 , compared to $ 49,942 as of december 31 , 2013. we plan to use existing cash as of december 31 , 2014 and cash generated in the ongoing operations of our business to fund our current operations , capital expenditures and possible acquisitions or other strategic activity . 60 cash flows the following table presents information regarding our cash flows and cash and cash equivalents for the periods indicated : replace_table_token_17_th operating activities net cash provided by operating activities in 2014 increased by $ 27,140 compared to 2013 , primarily due to an increase in net income of $ 10,319 in 2014 compared to the prior year period and an increase in the change in operating assets and liabilities totaling $ 18,559 offset by a decrease in non-cash adjustments totaling $ 2,364. net cash provided by operating activities in 2013 increased by $ 309 compared to 2012 , primarily due to an increase in net income of $ 3,195 in 2013 compared to the prior year period and an increase in non-cash adjustments totaling $ 2,612 , offset by an overall net decrease in the change in operating assets and liabilities of $ 5,498. investing activities net cash used in investing activities in 2014 increased by $ 50,869 compared to 2013 , primarily due to the increase in cash used in acquisitions of $ 50,578. in 2014 , the company acquired placemark and klein for net cash totaling $ 58,282 and $ 1,288 , respectively , and in 2013 , the company acquired wms for net cash totaling $ 8,992 ( see note 3 to the notes to consolidated financial statements ) .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources as of december 31 , 2014 , we had total cash and cash equivalents of $ 209,754 , compared to $ 49,942 as of december 31 , 2013. we plan to use existing cash as of december 31 , 2014 and cash generated in the ongoing operations of our business to fund our current operations , capital expenditures and possible acquisitions or other strategic activity . 60 cash flows the following table presents information regarding our cash flows and cash and cash equivalents for the periods indicated : replace_table_token_17_th operating activities net cash provided by operating activities in 2014 increased by $ 27,140 compared to 2013 , primarily due to an increase in net income of $ 10,319 in 2014 compared to the prior year period and an increase in the change in operating assets and liabilities totaling $ 18,559 offset by a decrease in non-cash adjustments totaling $ 2,364. net cash provided by operating activities in 2013 increased by $ 309 compared to 2012 , primarily due to an increase in net income of $ 3,195 in 2013 compared to the prior year period and an increase in non-cash adjustments totaling $ 2,612 , offset by an overall net decrease in the change in operating assets and liabilities of $ 5,498. investing activities net cash used in investing activities in 2014 increased by $ 50,869 compared to 2013 , primarily due to the increase in cash used in acquisitions of $ 50,578. in 2014 , the company acquired placemark and klein for net cash totaling $ 58,282 and $ 1,288 , respectively , and in 2013 , the company acquired wms for net cash totaling $ 8,992 ( see note 3 to the notes to consolidated financial statements ) .
```    
 Suspicious Activity Report : these revenues are recorded under revenues from assets under management ( `` aum `` ) or administration ( `` aua `` ) or collectively ( `` aum/a `` ) . our asset-based fees vary based on the types of investment solutions and services that financial advisors utilize . asset-based fees accounted for approximately 84 % , 83 % and 81 % of our total revenues for the years ended december 31 , 2014 , 2013 and 2012 , respectively . in future periods , the percentage of our total revenues attributable to asset-based fees is expected to vary based on fluctuations in securities markets , whether we enter into significant license agreements , the mix of aum or aua , and other factors . as of december 31 , 2014 , approximately $ 246 billion of investment assets subject to asset-based fees were managed or administered utilizing our technology platforms by approximately 29,000 financial advisors through approximately 978,000 investor accounts . we also generate revenues from recurring , contractual licensing fees for providing access to our technology platforms . these revenues are recorded under revenues from licensing and professional services . licensing fees are generally fixed in nature for the contract term and are based on the level of investment solutions and services provided , rather than on the amount of client assets on our technology platforms . licensing fees accounted for 14 % , 15 % and 15 % of our total revenues for the years ended december 31 , 2014 , 2013 and 2012 , respectively . fees received in connection with professional services and other revenue accounted for the remainder of our total revenues . as of december 31 , 2014 , approximately $ 467 billion of investment assets for which we receive licensing fees for utilizing our technology platforms were serviced by approximately 12,000 financial advisors through approximately 1,881,000 investor accounts . 39 the following table provides information regarding the amount of assets utilizing our platform technology , investor accounts and financial advisors in the periods indicated . replace_table_token_7_th revenues from assets under management or administration we generally charge our customers fees based on a higher percentage of the market value of aum than the fees we charge on the market value of aua , because we provide fiduciary oversight and or act as the investment advisor in connection with assets we categorize as aum . the level of fees varies based on the nature of the investment solutions and services we provide , as well as the specific investment manager , fund and or custodian chosen by the financial advisor . a portion of our revenues from assets under management or administration include costs paid by us to third parties for sub-advisory , clearing , custody and brokerage services . these expenses are recorded under cost of revenues . we do not have fiduciary responsibility in connection with aua and , therefore , generally charge lower fees on these assets . our fees for aua vary based on the nature of the investment solutions and services we provide . for over 85 % of our revenues from assets under management or administration , we bill customers at the beginning of each quarter based on the market value of customer assets on our platforms as of the end of the prior quarter . for example , revenues from assets under management or administration recognized during the fourth quarter of 2014 were primarily based on the market value of assets as of september 30 , 2014. our revenues from assets under management or administration are generally recognized ratably throughout the quarter based on the number of days in the quarter . our revenues from assets under management or administration are affected by the amount of new assets that are added to existing and new client accounts , which we refer to as gross sales . gross sales , from time to time , also include conversions of client assets to our technology platforms . the amount of assets that are withdrawn from client accounts are referred to as redemptions . we refer to the difference between gross sales and redemptions as net flows . positive net flows indicate that the market value of assets added to client accounts exceeds the market value of assets that have been withdrawn from client accounts . 40 our revenues from assets under management or administration are also affected by changes in the market values of securities held in client accounts due to fluctuations in the securities markets . certain types of securities have historically experienced greater market price fluctuations , such as equity securities , than other securities , such as fixed income securities , though in any given period the type of securities that experience the greatest fluctuations may vary . the following table provides information regarding the degree to which gross sales , redemptions , net flows and changes in the market values of assets contributed to changes in aum or aua in the periods indicated . replace_table_token_8_th the above aum/a gross sales figures include $ 28.2 billion in new client conversions . the company onboarded an additional $ 66.9 billion in licensing conversions during 2014 , bringing total conversions for the year to $ 95.1 billion . replace_table_token_9_th the above aum/a gross sales figures include $ 24.5 billion in new client conversions . the company onboarded an additional $ 33.6 billion in licensing conversions during 2013 , bringing total conversions for the year to $ 58.1 billion . the mix of assets under management and assets under administration was as follows as of the dates indicated : replace_table_token_10_th we expect the percentage of aum and aua will fluctuate in future periods . the nature and type of services requested by our customers are the key drivers in determining whether customer assets are classified as aum or aua . therefore , we do not have direct control over the mix of aum and aua . story_separator_special_tag in certain cases , management is required to determine whether revenues should be recognized in an amount equal to the gross fees we receive or net of payments of expenses to third-parties , such as third party investment managers and 46 custodians , that perform services for us in connection with certain of our financial advisors ' client accounts . generally , when fees are collected for investment management , clearing , custody or brokerage services in circumstances where we do not have a direct contract with the third-party provider , the fees are recorded as revenue on a net basis . fees we received in advance of the performance of services are recorded as deferred revenues on our consolidated balance sheet and are recognized as revenues when earned , generally over three months . the company derives licensing fees from recurring contractual fixed fee contracts with larger financial institutions or enterprise clients . licensing contracts allow the customer to provide a unique configuration of platform features and investment solutions for their advisors . the licensing fees vary based on the type of services provided and our revenues received under license agreements are recognized over the contractual term . the company 's license agreements do not generally provide its customers the ability to take possession of the software or host the software on the customers ' own systems or through a hosting arrangement with an unrelated party . when the company enters into arrangements with multiple deliverables , exclusive of arrangements with software deliverables , it applies the fasb 's guidance for revenue arrangements with multiple deliverables and evaluates each deliverable to determine whether it represents a separate unit of accounting based on the following criteria : ( i ) whether the delivered item has value to the customer on a stand-alone basis , and ( ii ) if the contract includes a general right of return relative to the delivered item , delivery or performance of the undelivered item ( s ) is considered probable and substantially in the control of the company . revenue is allocated to each unit of accounting or element based on relative selling prices . the company determines relative selling prices by using either ( a ) vendor-specific objective evidence ( `` vsoe `` ) if it exists ; or ( b ) third-party evidence ( `` tpe `` ) of selling price . when neither vsoe nor tpe of selling price exists for a deliverable , the company uses its best estimate of the selling price for that deliverable . after determining which deliverables represent a separate unit of accounting , each unit is then accounted for under the applicable revenue recognition guidance . in cases where elements can not be treated as separate units of accounting , the elements are combined into a single unit of accounting for revenue recognition purposes . if one of the elements that are combined into a single unit of accounting is fees from professional services , including implementation related services or customized service platform software development , the professional service fees are recognized over the course of the expected customer relationship . we have estimated the life of the customer relationship by considering both the historical retention rate of our customers while not exceeding the number of years over which we can accurately forecast future revenues . we currently estimate this term to be five years . the company also derives professional service fees from providing contractual customized platform software development and implementation services , which are recognized under a proportional-performance model utilizing an output-based approach . the company 's contracts generally have fixed prices , and generally specify or quantify deliverables . our revenue recognition is also affected by our judgment in determining whether collectability is reasonably assured . with regard to allowances for uncollectible receivables , we consider customer-specific information related to delinquent accounts and past loss experience , as well as current economic conditions in establishing the amount of the allowance . purchase accounting in 2012 , we completed the acquisitions of prima and tamarac for consideration totaling $ 13,925 and $ 48,427 , respectively . in 2013 , the company completed the acquisition of wms for total consideration of $ 24,730. in 2014 , ers , llc completed the acquisition of klein for total consideration of $ 5,588. in the fourth quarter of 2014 , the company completed the acquisition of placemark for total 47 consideration of $ 66,701. for more information on the acquisitions see note 3 to the notes to consolidated financial statements . assigning fair market values to the assets acquired and liabilities assumed at the date of an acquisition requires knowledge of current market values , and the values of assets in use , and often requires the application of judgment regarding estimates and assumptions . while the ultimate responsibility resides with management , for material acquisitions , we retain the services of certified valuation specialists to assist with assigning estimated values to certain acquired assets and assumed liabilities , including intangible assets and contingent consideration . acquired intangible assets , excluding goodwill , are valued using a discounted cash flow methodology based on future cash flows specific to the type of intangible asset purchased . this methodology incorporates various estimates and assumptions , the most significant being projected revenue growth rates , margins , and forecasted cash flows based on the discount rate and terminal growth rate . management projects revenue growth rates , margins and cash flows based on the historical operating results of the acquired entity adjusted for synergies anticipated to be achieved through integration , expected future performance , operational strategies , and the general macroeconomic environment . we review finite-lived intangible assets for triggering events such as significant changes in operations , customers or future revenue that might indicate the need to impair the assets acquired or change the useful lives of the assets acquired . there was no impairment or change in

