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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:      
Advisory fees $ 227,775 $ 218,465 $ 297,944
Settlement gain (Note 9) 6,909    
Other income 2,715 981 998
Total revenues 237,399 219,446 298,942
Expenses:      
Compensation and benefits 81,493 63,263 73,228
Fund management and administration 42,144 41,083 42,782
Marketing and advertising 14,402 15,643 13,371
Sales and business development 13,811 12,537 9,189
Professional and consulting fees 10,086 6,692 7,067
Occupancy, communications and equipment 5,415 5,211 4,299
Depreciation and amortization 1,395 1,305 1,006
Third-party sharing arrangements 3,393 2,827 2,443
Goodwill impairment   1,676  
Acquisition payment   6,738 2,185
Other 7,068 6,909 6,187
Total expenses 179,207 163,884 161,757
Income before taxes 58,192 55,562 137,185
Income tax expense 30,993 29,407 57,133
Net income $ 27,199 $ 26,155 $ 80,052
Net income per share - basic $ 0.20 $ 0.19 $ 0.58
Net income per share - diluted $ 0.20 $ 0.19 $ 0.58
Weighted-average common shares - basic 134,614 134,401 137,242
Weighted-average common shares - diluted 136,003 135,539 138,825
Cash dividends declared per common share $ 0.32 $ 0.32 $ 0.57