Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	9 Months Ended
Sep. 30, 2012	Sep. 30, 2011
Cash Flows from Operating Activities:
Net income	$ 25,459	$ 4,755
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and other amortization	1,194	1,427
Intangible asset amortization	3,016	3,035
Stock-based compensation	5,366	4,035
Amortization of deferred commissions	8,089	6,158
Payments of deferred commissions	(7,744)	(9,045)
Equity in earnings of affiliates, net of dividends	0	223
Realized and unrealized (gains) losses on trading securities	(1,639)	737
Realized and unrealized gains on investments of consolidated sponsored investment products	(541)	0
Purchase of trading securities, net	691	(1,853)
Purchase of investments by consolidated sponsored investment products, net	(35,024)	0
Loss on disposal of fixed assets	17	0
Deferred income taxes	15,952	(4,717)
Changes in operating assets and liabilities:
Accounts receivable	(5,747)	(1,318)
Prepaid expenses and other assets	(1,518)	4,970
Accounts payable and accrued liabilities	3,342	(835)
Other liabilities	3,639	(909)
Net cash provided by operating activities	14,552	6,663
Cash Flows from Investing Activities:
Capital expenditures	(2,612)	(402)
Purchase of investment management contracts	(350)	(141)
Purchase of available-for-sale securities	(232)	(216)
Net cash used in investing activities	(3,194)	(759)
Cash Flows from Financing Activities:
Contingent consideration paid for acquired investment management contracts	(510)	(594)
Preferred stock dividends paid	0	(2,113)
Repurchase of common shares	(3,059)	(7,870)
Proceeds from exercise of stock options	1,787	670
Payment of deferred financing costs	(563)	0
Taxes paid related to net share settlement of restricted stock units	(11,280)	(720)
Noncontrolling interests	235
Net cash used in financing activities	(13,390)	(10,627)
Net decrease in cash and cash equivalents	(2,032)	(4,723)
Cash and cash equivalents, beginning of period	45,267	43,948
Cash and Cash Equivalents, end of period	43,235	39,225
Non-Cash Financing Activities:
Preferred stock conversion	$ 35,217	$ 0

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The amount of expense recognized in the current period for the periodic realization of capitalized fees that were paid to salespeople, distributors, brokers, and agents at the time of the conclusion of the sale. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.