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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Advisory fees $ 51,553 $ 80,520 $ 168,099 $ 221,709
Other income 236 233 549 744
Total revenues 51,789 80,753 168,648 222,453
Expenses:        
Compensation and benefits 15,328 19,407 44,897 57,677
Fund management and administration 10,372 10,519 31,037 31,895
Marketing and advertising 3,600 3,573 11,998 10,277
Sales and business development 3,075 2,438 9,356 6,414
Professional and consulting fees 1,035 1,570 5,235 4,637
Occupancy, communications and equipment 1,469 1,183 3,932 3,044
Depreciation and amortization 332 253 978 696
Third-party sharing arrangements 622 485 2,238 1,265
Acquisition payment   172 6,738 693
Other 1,731 1,620 5,186 4,364
Total expenses 37,564 41,220 121,595 120,962
Income before taxes 14,225 39,533 47,053 101,491
Income tax expense 6,270 16,245 23,375 41,969
Net income $ 7,955 $ 23,288 $ 23,678 $ 59,522
Net income per share - basic $ 0.06 $ 0.17 $ 0.17 $ 0.44
Net income per share - diluted $ 0.06 $ 0.17 $ 0.17 $ 0.43
Weighted-average common shares - basic 134,046 136,582 134,541 135,527
Weighted-average common shares - diluted 135,190 138,181 135,583 137,833
Cash dividends declared per common share $ 0.08 $ 0.08 $ 0.24 $ 0.24