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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Advisory fees $ 55,931 $ 81,320 $ 116,546 $ 141,189
Other income 50 239 313 511
Total revenues 55,981 81,559 116,859 141,700
Expenses:        
Compensation and benefits 14,343 18,669 29,569 38,270
Fund management and administration 10,621 11,208 20,665 21,376
Marketing and advertising 4,566 3,628 8,398 6,704
Sales and business development 3,834 2,076 6,281 3,976
Professional and consulting fees 1,365 1,604 4,200 3,067
Occupancy, communications and equipment 1,241 943 2,463 1,861
Depreciation and amortization 330 223 646 443
Third-party sharing arrangements 709 497 1,616 780
Acquisition payment 5,993 264 6,738 521
Other 1,823 1,509 3,455 2,744
Total expenses 44,825 40,621 84,031 79,742
Income before taxes 11,156 40,938 32,828 61,958
Income tax expense 7,505 16,766 17,105 25,724
Net income $ 3,651 $ 24,172 $ 15,723 $ 36,234
Net income per share - basic $ 0.03 $ 0.18 $ 0.11 $ 0.27
Net income per share - diluted $ 0.03 $ 0.18 $ 0.11 $ 0.26
Weighted-average common shares - basic 136,503 135,895 137,051 134,990
Weighted-average common shares - diluted 137,274 137,951 137,849 137,620
Cash dividends declared per common share $ 0.08 $ 0.08 $ 0.16 $ 0.16