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Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS:
Some of our directors, executive officers and their affiliates invest personal funds directly in trust accounts that we manage. At both December 31, 2024 and at December 31, 2023, there was approximately $0.1 million in fees due from these accounts. For the years ended December 31, 2024, 2023 and 2022 we recorded trust fees from these accounts of $0.3 million.
The Company engages in transactions with its affiliates in the ordinary course of business. Westwood Management provides investment advisory services to the Westwood Funds®. Under the terms of the investment advisory agreements, the Company earns quarterly fees paid by clients of the fund or by the funds directly. The fees are based on negotiated fee schedules applied to AUM. For the years ended December 31, 2024, 2023 and 2022 the Company earned immaterial fees from the affiliated funds.
One of our directors served as a consultant to the Company under a consulting agreement that expired on December 31, 2023. We recorded immaterial expenses related to this agreement for the years ended December 31, 2023 and 2022.