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Consolidated Statements of Operations - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Advisory fees $ 218,465,000 $ 297,944,000 $ 182,816,000
Other income 981,000 998,000 946,000
Total revenues 219,446,000 298,942,000 183,762,000
Expenses:      
Compensation and benefits 63,263,000 73,228,000 40,995,000
Fund management and administration 41,083,000 42,782,000 34,383,000
Marketing and advertising 15,643,000 13,371,000 11,514,000
Sales and business development 12,537,000 9,189,000 6,221,000
Professional and consulting fees 6,692,000 7,067,000 7,578,000
Occupancy, communications and equipment 5,211,000 4,299,000 3,578,000
Depreciation and amortization 1,305,000 1,006,000 821,000
Third party sharing arrangements 2,827,000 2,443,000 594,000
Goodwill impairment 1,676,000    
Acquisition payment 6,738,000 2,185,000  
Other 6,909,000 6,187,000 4,530,000
Total expenses 163,884,000 161,757,000 110,214,000
Income before taxes 55,562,000 137,185,000 73,548,000
Income tax expense 29,407,000 57,133,000 12,497,000
Net income $ 26,155,000 $ 80,052,000 $ 61,051,000
Net income per share - basic $ 0.19 $ 0.58 $ 0.46
Net income per share - diluted $ 0.19 $ 0.58 $ 0.44
Weighted-average common shares - basic 134,401 137,242 131,770
Weighted-average common shares - diluted 135,539 138,825 138,551
Cash dividends declared per common share $ 0.32 $ 0.57 $ 0.08