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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:      
ETF advisory fees $ 148,594 $ 84,024 $ 64,366
Other income 874 774 794
Total revenues 149,468 84,798 65,160
Expenses:      
Compensation and benefits 36,210 23,233 19,634
Fund management and administration 35,076 23,020 19,882
Marketing and advertising 8,309 5,363 4,475
Sales and business development 6,474 3,586 3,603
Professional and consulting fees 2,748 4,603 4,307
Occupancy, communications, and equipment 2,784 1,419 1,127
Depreciation and amortization 439 307 267
Third party sharing arrangements 1,368 5,468 5,651
Other 4,523 2,976 2,243
ETF shareholders proxy   3,264  
Litigation, net   176 150
Exchange listing and offering   353 729
Total expenses 97,931 73,768 62,068
Income before provision for income taxes 51,537 11,030 3,092
Provision for income taxes         
Net income $ 51,537 $ 11,030 $ 3,092
Net income per share-basic $ 0.41 $ 0.09 $ 0.03
Net income per share-diluted $ 0.37 $ 0.08 $ 0.02
Weighted-average common shares-basic 126,651 122,138 114,132
Weighted-average common shares-diluted 139,797 137,968 135,539