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Marketable Securities | 6 Months Ended
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Jun. 30, 2022
Marketable Securities [Abstract] |
Marketable Securities | Marketable Securities Marketable securities include investments in money market funds and commercial paper classified as cash equivalents, available-for-sale debt securities, investments in SEI-sponsored and non-SEI-sponsored mutual funds, equities, investments in funds sponsored by LSV and securities owned by SIDCO. Cash Equivalents Investments in money market funds and commercial paper classified as cash equivalents had a fair value of $458,521 and $422,838 at June 30, 2022 and December 31, 2021, respectively. There were no material unrealized or realized gains or losses from these investments during the six months ended June 30, 2022 and 2021. Investments in money market funds and commercial paper are Level 1 assets. Available for Sale and Equity Securities Available For Sale and Equity Securities on the accompanying Consolidated Balance Sheets consist of:
| At June 30, 2022
| Cost Amount |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
Available-for-sale debt securities | $ | 119,702 |  |  | $ | — |  |  | $ | (8,832) |  |  | $ | 110,870 |
SEI-sponsored mutual funds | 6,271 |  |  | — |  |  | (249) |  |  | 6,022 |
Equities and other mutual funds | 4,870 |  |  | — |  |  | (80) |  |  | 4,790 |
| $ | 130,843 |  |  | $ | — |  |  | $ | (9,161) |  |  | $ | 121,682 |
| At December 31, 2021
| Cost Amount |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
Available-for-sale debt securities | $ | 117,215 |  |  | $ | — |  |  | $ | (80) |  |  | $ | 117,135 |
SEI-sponsored mutual funds | 6,748 |  |  | 463 |  |  | — |  |  | 7,211 |
Equities and other mutual funds | 4,935 |  |  | 260 |  |  | — |  |  | 5,195 |
| $ | 128,898 |  |  | $ | 723 |  |  | $ | (80) |  |  | $ | 129,541 |
Net unrealized losses at June 30, 2022 of available-for-sale debt securities were $6,801 (net of income tax benefit of $2,031). Net unrealized losses at December 31, 2021 of available-for-sale debt securities were $62 (net of income tax benefit of $18). These unrealized losses are associated with the Company’s investments in mortgage-backed securities issued by GNMA and were caused by interest rate increases (See Note 4). The contractual cash flows of these securities are guaranteed by an agency of the U.S. government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost bases of the Company's investments. The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases. These net unrealized losses are reported as a separate component of Accumulated other comprehensive loss on the accompanying Consolidated Balance Sheets. There were gross realized losses of $414 and $556 from available-for-sale debt securities during the six months ended June 30, 2022 and 2021, respectively. There were no gross realized gains from available-for-sale debt securities during the six months ended June 30, 2022 and 2021. Realized losses from available-for-sale debt securities, including amounts reclassified from accumulated comprehensive loss, are reflected in Net (loss) gain from investments on the accompanying Consolidated Statements of Operations. There were gross realized gains of $7 and gross realized losses of $658 from mutual funds and equities during the six months ended June 30, 2022. There were gross realized gains of $613 and gross realized losses of $59 from mutual funds and equities during the six months ended June 30, 2021. Gains and losses from mutual funds and equities are reflected in Net (loss) gain from investments on the accompanying Consolidated Statements of Operations. Investments in Affiliated Funds The Company has an investment in funds sponsored by LSV. The Company records this investment on the accompanying Consolidated Balance Sheets at fair value. Unrealized gains and losses from the change in fair value of these funds are recognized in Net (loss) gain from investments on the accompanying Consolidated Statements of Operations. The funds had a fair value of $6,000 and $6,916 at June 30, 2022 and December 31, 2021, respectively. The Company recognized unrealized losses of $1,270 and unrealized gains of $309 during the three months ended June 30, 2022 and 2021, respectively, from the change in fair value of the funds. The Company recognized unrealized losses of $916 and unrealized gains of $766 during the six months ended June 30, 2022 and 2021, respectively, from the change in fair value of the funds. Securities Owned The Company’s broker-dealer subsidiary, SIDCO, has investments in U.S. government agency securities with maturity dates less than one year. These investments are reflected as Securities owned on the accompanying Consolidated Balance Sheets. Due to specialized accounting practices applicable to investments by broker-dealers, the securities are reported at fair value and changes in fair value are recorded in current period earnings. The securities had a fair value of $31,171 and $28,267 at June 30, 2022 and December 31, 2021, respectively. There were no material net gains or losses related to the securities during the three and six months ended June 30, 2022 and 2021.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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