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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income $ 35,061 $ 5,777
Non-cash items included in net income:    
Depreciation and amortization and other 249 225
Stock-based compensation 5,186 5,903
Deferred rent 111 (106)
Accretion to interest income and other 108 89
Changes in operating assets and liabilities:    
Accounts receivable (3,683) (3,759)
Other assets (720) (185)
Fund management and administration payable 3,697 (736)
Compensation and benefits payable 7,235 (933)
Accounts payable and other liabilities 471 1,251
Net cash provided by operating activities 47,715 7,526
Cash flows from investing activities:    
Purchase of fixed assets (1,118) (182)
Purchase of investments (3,358) (6,098)
Proceeds from the redemption of investments 2,693 5,657
Net cash used in investing activities (1,783) (623)
Cash flows from financing activities:    
Net proceeds from sale of common stock   4,329
Shares repurchased (1,413) (1,169)
Proceeds from exercise of stock options 1,349 3,910
Net cash (used in)/provided by financing activities (64) 7,070
Net increase in cash and cash equivalents 45,868 13,973
Cash and cash equivalents-beginning of period 41,246 25,630
Cash and cash equivalents-end of period 87,114 39,603
Supplemental disclosure of cash flow information:    
Cash paid for income taxes $ 33 $ 29