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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Advisory fees $ 43,938 $ 37,101 $ 86,547 $ 66,254
Other income 190 230 501 418
Total revenues 44,128 37,331 87,048 66,672
Expenses:        
Compensation and benefits 7,551 9,447 16,906 16,929
Fund management and administration 7,818 9,106 16,986 17,329
Marketing and advertising 2,726 2,196 5,304 4,133
Sales and business development 1,727 1,520 3,028 3,321
Professional and consulting fees 1,840 657 3,635 1,270
Occupancy, communications, and equipment 853 591 1,753 968
Depreciation and amortization 201 83 393 165
Third-party sharing arrangements 115 428 125 539
Other 1,164 1,061 2,306 1,922
Total expenses 23,995 25,089 50,436 46,576
Income before taxes 20,133 12,242 36,612 20,096
Income tax expense/(benefit) 9,531   (4,194)  
Net income $ 10,602 $ 12,242 $ 40,806 $ 20,096
Net income per share-basic $ 0.08 $ 0.10 $ 0.31 $ 0.16
Net income per share-diluted $ 0.08 $ 0.09 $ 0.29 $ 0.14
Weighted-average common shares-basic 131,533 125,771 131,235 125,605
Weighted-average common shares-diluted 138,258 140,081 138,501 139,716