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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating activities      
Net income / (loss) $ (2,041) $ (16,727) $ 11,215
Adjustments to reconcile net income / (loss) to net cash provided by (used in) operating activities:      
Gain on repurchase of debt (86) (33) (2,555)
Other (income) / expense     (971)
Equity-based compensation 1,271 6,929 2,505
Realized loss / (gain) on other investments (1,728) (1,002) 4,512
Change in unrealized (gain) / loss on other investments, at fair value 6,325 (502) (29,325)
Depreciation and amortization 1,305 2,238 2,356
Impairment of goodwill 0 0 5,607
(Income) / loss from equity method affiliates (5,052) (6,232) (5,884)
Change in operating assets and liabilities, net:      
(Increase) decrease in other receivables (2,851) 2,741 (1,833)
(Increase) decrease in investments-trading (51,593) 138,811 (53,587)
(Increase) decrease in other assets, net 1,583 7,615 (849)
(Increase) decrease in receivables under resale agreement 59,868 28,710 20,357
Change in receivables from / payables to related parties, net 223 259 281
Increase (decrease) in accrued compensation (497) (10,942) 9,708
Increase (decrease) in accounts payable and other liabilities (1,355) (2,720) 25
Increase (decrease) in trading securities sold, not yet purchased (55,446) 38,691 (96,892)
Change in receivables from / payables to brokers, dealers, and clearing agencies, net 130,316 (99,180) 31,527
Increase (decrease) in securities sold under agreement to repurchase (64,597) (93,566) 69,816
Increase (decrease) in deferred income taxes (897) (1,389) (828)
Net cash provided by (used in) operating activities 14,748 (6,299) (34,815)
Investing activities      
Cash paid for acquisition of JVB Holdings, net of cash acquired   (14,956)  
Cash acquired from acquisition of PrinceRidge Partners LLC and PrinceRidge Holdings LP   2,149  
Purchase of investments-other investments, at fair value (390) (3,068) (12,944)
Proceeds from sale of management contracts     971
Sales and return of principal of other investments, at fair value 379 7,708 34,908
Sale of cost method investment 1,937    
Investment in equity method affiliates (4,716) (5,021) (5,517)
Return from equity method affiliates 12,093 6,954 9,983
Cash used in other acquisition     (297)
Purchase of furniture, equipment, and leasehold improvements (193) (470) (939)
Net cash provided by (used in) investing activities 9,110 (6,704) 26,165
Financing activities      
Issuance of debt     9,300
Repayment and repurchase of debt (16,270) (7,960) (24,283)
Payments for deferred issuance and financing costs     (349)
Cash used to net share settle equity awards (199) (72) (166)
Purchase of common stock for treasury   (1,488)  
PrinceRidge non-controlling interest redemptions, net (6,152)    
PrinceRidge mandatorily redeemable equity interest repayments (3,723)    
IFMI non-controlling interest distributions and redemptions (420) (1,161) (528)
IFMI dividends (953) (2,115) (1,043)
Net cash provided by (used in) financing activities (27,717) (12,796) (17,069)
Effect of exchange rate on cash 138 74 (27)
Net increase (decrease) in cash and cash equivalents (3,721) (25,725) (25,746)
Cash and cash equivalents, beginning of year 18,221 43,946 69,692
Cash and cash equivalents, end of year $ 14,500 $ 18,221 $ 43,946