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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 51,537 $ 11,030 $ 3,092
Non-cash items included in net income:      
Depreciation and amortization and other 439 307 267
Stock-based compensation 6,459 7,437 7,141
Deferred rent 706 (140) (154)
Accretion to interest income and other 116 194 135
Changes in operating assets and liabilities:      
Accounts receivable (5,529) (3,723) (800)
Other assets (70) 337 (950)
Fund management and administration payable 3,470 (3,111) 4,321
Compensation and benefits payable 12,122 (2,012) 530
Accounts payable and other liabilities 874 915 110
Net cash provided by operating activities 70,124 11,234 13,692
Cash flows from investing activities:      
Purchase of fixed assets (6,211) (190) (108)
Purchase of investments (3,597) (10,004) (8,114)
Proceeds from the redemption of investments 2,781 7,836 7,542
Net cash used in investing activities (7,027) (2,358) (680)
Cash flows from financing activities:      
Net proceeds from sale of common stock   4,329  
Shares repurchased (1,613) (2,261) (2,153)
Proceeds from exercise of stock options and warrants 1,586 4,672 538
Net cash (used in)/provided by financing activities (27) 6,740 (1,615)
Net increase in cash and cash equivalents 63,070 15,616 11,397
Cash and cash equivalents - beginning of year 41,246 25,630 14,233
Cash and cash equivalents - end of year 104,316 41,246 25,630
Supplemental disclosure of cash flow information:      
Cash paid for taxes 38 33 13
Noncash investing and financing activities:      
Cashless exercise of stock options and warrants $ 267    $ 391