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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net income $ 7,854 $ 1,115
Non-cash items included in net income:    
Depreciation and amortization and other 82 71
Stock-based compensation 1,714 2,115
Deferred rent (34) (37)
Accretion to interest income and other 39 20
Changes in operating assets and liabilities:    
Accounts receivable (1,750) (1,504)
Other assets (256) 198
Fund management and administration payable 2,589 1,913
Compensation and benefits payable 457 (2,931)
Accounts payable and other liabilities (451) 1,720
Net cash provided by operating activities 10,244 2,680
Cash flows from investing activities:    
Purchase of fixed assets (10) (56)
Purchase of investments (1,314) (3,549)
Proceeds from the redemption of investments 1,633 2,486
Net cash provided by/(used in) investing activities 309 (1,119)
Cash flows from financing activities:    
Net proceeds from sale of common stock   4,329
Shares repurchased (249) (995)
Proceeds from exercise of stock options 747 1,613
Net cash provided by financing activities 498 4,947
Net increase in cash and cash equivalents 11,051 6,508
Cash and cash equivalents-beginning of period 41,246 25,630
Cash and cash equivalents-end of period 52,297 32,138
Supplemental disclosure of cash flow information:    
Cash paid for income taxes $ 34 $ 3