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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net income/(loss) $ 11,030 $ 3,092 $ (7,549)
Non-cash items included in net income/(loss):      
Depreciation and amortization and other 307 267 314
Stock-based compensation 7,437 7,141 8,755
Deferred rent (140) (154) (105)
Accretion to interest income and other 194 135 4
Changes in operating assets and liabilities:      
Accounts receivable (3,723) (800) (1,941)
Other assets 337 (950) 313
Fund management and administration payable (3,111) 4,321 659
Compensation and benefits payable (2,012) 530 1,051
Accounts payable and other liabilities 915 110 627
Net cash provided by operating activities 11,234 13,692 2,128
Cash flows from investing activities:      
Purchase of fixed assets (190) (108) (93)
Purchase of investments (10,004) (8,114) (6,935)
Proceeds from the redemption of investments 7,836 7,542 7,656
Net cash (used in)/provided by investing activities (2,358) (680) 628
Cash flows from financing activities:      
Net proceeds from sale of common stock 4,329    
Shares repurchased (2,261) (2,153)  
Proceeds from exercise of stock options and warrants 4,672 538 1
Net cash provided by/(used in) financing activities 6,740 (1,615) 1
Net increase in cash and cash equivalents 15,616 11,397 2,757
Cash and cash equivalents - beginning of year 25,630 14,233 11,476
Cash and cash equivalents - end of year 41,246 25,630 14,233
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 33 13 11
Noncash investing and financing activities:      
Cashless exercise of stock options and warrants   $ 391 $ 517