Westwood (WHG) 10-K 20 Feb 20 2019 FY Annual report Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2019
Cover page.
Document Type	10-K
Entity Incorporation, State or Country Code	DE
City Area Code	(214)
Local Phone Number	756-6900
Entity File Number	1-31234
Entity Address, City or Town	Dallas,
Entity Address, Postal Zip Code	75201
Entity Tax Identification Number	75-2969997
Entity Address, Address Line One	200 Crescent Court, Suite 1200
Trading Symbol	WHG
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Entity Address, State or Province	TX
Document Annual Report	true

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019	Feb. 15, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	WESTWOOD HOLDINGS GROUP INC
Entity Central Index Key	0001165002
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float		$ 427,426,109
Entity Common Stock, Shares Outstanding			8,912,392
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Document Transition Report	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 49,766,000	$ 52,449,000
Accounts receivable	13,177,000	18,429,000
Investments, at fair value	50,324,000	65,781,000
Prepaid Taxes	1,150,000	349,000
Other current assets	2,544,000	2,731,000
Total current assets	116,961,000	139,739,000
Long-term Investments	8,154,000	5,425,000
Goodwill	19,804,000	19,804,000
Deferred income taxes	2,216,000	5,102,000
Intangible assets, net	15,256,000	15,961,000
Property and equipment, net of accumulated depreciation of $7,395 and $6,462	4,152,000	4,454,000
Assets	178,707,000	199,183,000
Current Liabilities:
Accounts payable and accrued liabilities	2,145,000	2,518,000
Dividends payable	7,362,000	7,710,000
Compensation and benefits payable	9,975,000	15,102,000
Income taxes payable	289,000	365,000
Total current liabilities	21,355,000	27,127,000
Accrued dividends	1,303,000	1,576,000
Total long-term liabilities	9,065,000	10,907,000
Total liabilities	30,420,000	38,034,000
Commitments and contingencies
Stockholders’ Equity:
Common stock, $0.01 par value, authorized 25,000,000 shares, issued 10,306,570 and outstanding 8,881,086 shares at December 31, 2019; issued 10,182,583 and outstanding 8,904,902 shares at December 31, 2018	103,000	102,000
Additional paid-in capital	203,441,000	194,116,000
Treasury stock, at cost – 1,425,483 shares at December 31, 2019; 1,277,681 shares at December 31, 2018	(63,281,000)	(58,711,000)
Accumulated other comprehensive loss	(2,943,000)	(4,883,000)
Retained earnings	10,967,000	30,525,000
Total stockholders’ equity	148,287,000	161,149,000
Total liabilities and stockholders’ equity	178,707,000	199,183,000
Operating Lease, Right-of-Use Asset	7,562,000	8,698,000
Other Assets, Noncurrent	364,000
Operating Lease, Liability	9,346,000	10,763,000
Operating Lease, Liability, Current	1,584,000	1,432,000
Operating Lease, Liability, Noncurrent	7,762,000	9,331,000
Other Long-term Investments	$ 4,238,000	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation	$ 7,395	$ 6,462
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued		10,182,583
Common stock, shares outstanding		8,904,902
Treasury stock, shares		1,277,681

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares
Other Revenue, Net	$ 799,000	$ 996,000	$ 1,552,000
Total revenues	84,079,000	122,300,000	133,785,000
Amortization of intangible assets	1,726,000	1,672,000	1,872,000
Expenses:
Employee compensation and benefits	50,152,000	59,959,000	64,955,000
Sales and marketing	2,068,000	1,936,000	2,042,000
Westwood mutual funds	3,097,000	3,808,000	3,938,000
Information technology	8,426,000	9,103,000	7,785,000
Professional services	4,322,000	4,783,000	5,916,000
Litigation Settlement, Expense	0	0	4,009,000
General and administrative	9,516,000	9,564,000	9,652,000
Foreign Currency Transaction Gain (Loss), before Tax	(1,854,000)	(2,791,000)	(1,595,000)
Total expenses	79,435,000	86,362,000	99,892,000
Operating Income (Loss)	4,644,000	35,938,000	33,893,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	0	524,000	0
Income (loss) before income taxes	9,402,000	36,462,000	33,893,000
Provision for income taxes	3,491,000	9,711,000	13,904,000
Net income	5,911,000	26,751,000	19,989,000
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	1,940,000	(3,119,000)	2,523,000
Other comprehensive income (loss)	1,940,000	(3,119,000)	2,523,000
Total comprehensive income	$ 7,851,000	$ 23,632,000	$ 22,512,000
Earnings per share:
Basic (in dollars per share) | $ / shares	$ 0.70	$ 3.20	$ 2.45
Diluted (in dollars per share) | $ / shares	$ 0.70	$ 3.13	$ 2.38
Weighted average shares outstanding:
Basic (in shares) | shares	8,408,017	8,365,360	8,147,742
Diluted (in shares) | shares	8,463,239	8,547,370	8,400,022
Unrealized Gain (Loss) on Investments	$ 3,296,000
Investment Income, Investment Expense	1,318,000
Other Income	144,000
General and Administrative Expense [Member]
Amortization of intangible assets	1,726,000	$ 1,700,000	$ 1,900,000
Asset Management [Member]
Revenue from Contract with Customer, Including Assessed Tax	57,033,000	89,367,000	99,201,000
Investment Performance [Member]
Revenue from Contract with Customer, Including Assessed Tax	764,000	2,984,000	1,411,000
Fiduciary and Trust [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 25,483,000	$ 28,953,000	$ 31,621,000

CONSOLIDATED STATEMENTs OF STOC

CONSOLIDATED STATEMENTs OF STOCKHOLDERS' EQUITY - USD ($)	Total	Westwood Holdings Group, Inc. Common Stock, Par	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Retained Earnings, Appropriated [Member]	Accounting Standards Update 2016-09 [Member]
BALANCE at Dec. 31, 2016	$ 146,069,000	$ 98,000	$ 162,730,000	$ (44,353,000)	$ (4,287,000)	$ 31,881,000
BALANCE, shares at Dec. 31, 2016		8,810,375
Net income	19,989,000					19,989,000
Other comprehensive income	2,523,000				2,523,000
Issuance of restricted stock, net of forfeitures		$ 2,000	(2,000)
Issuance of restricted stock, net of forfeitures, shares		178,889
Stock-based compensation expense	16,430,000		16,430,000
Reclassification of compensation liability to be paid in shares	591,000		591,000					$ 711,000
Dividends declared ($2.07 in 2015, $1.82 per share in 2014, $1.64 per share in 2013)	(22,552,000)					(22,552,000)
Purchases of treasury stock	(1,326,000)			(1,326,000)
Purchases of treasury stock, shares		(23,822)
Issuance of treasury stock under employee stock plans, shares		22,091
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures			(1,219,000)	1,219,000
Restricted stock returned for payment of taxes	(5,328,000)			(5,328,000)
Restricted stock returned for payment of taxes, shares		(87,946)
BALANCE at Dec. 31, 2017	156,396,000	$ 100,000	179,241,000	(49,788,000)	(1,764,000)	28,607,000	$ (711,000)
BALANCE, shares at Dec. 31, 2017		8,899,587
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification						(700,000)
Net income	26,751,000					26,751,000
Other comprehensive income	(3,119,000)				(3,119,000)
Issuance of restricted stock, net of forfeitures		$ 2,000	(2,000)
Issuance of restricted stock, net of forfeitures, shares		201,756
Stock-based compensation expense	15,283,000		15,283,000
Reclassification of compensation liability to be paid in shares	165,000		165,000
Dividends declared ($2.07 in 2015, $1.82 per share in 2014, $1.64 per share in 2013)	(24,833,000)					(24,833,000)
Purchases of treasury stock	(4,726,000)			(4,726,000)
Purchases of treasury stock, shares		(121,320)
Issuance of treasury stock under employee stock plans, shares		10,327
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures			(571,000)	571,000
Restricted stock returned for payment of taxes	(4,768,000)			(4,768,000)
Restricted stock returned for payment of taxes, shares		(85,448)
BALANCE at Dec. 31, 2018	$ 161,149,000	$ 102,000	194,116,000	(58,711,000)	(4,883,000)	30,525,000
BALANCE, shares at Dec. 31, 2018	8,904,902	8,904,902
Accumulated Other Comprehensive Income (Loss), Tax	$ (46,000)
Net income	5,911,000
Other comprehensive income	1,940,000
Issuance of restricted stock, net of forfeitures		$ 1,000	(1,000)
Issuance of restricted stock, net of forfeitures, shares		123,986
Stock-based compensation expense	10,305,000		10,305,000
Reclassification of compensation liability to be paid in shares	232,000		232,000
Dividends declared ($2.07 in 2015, $1.82 per share in 2014, $1.64 per share in 2013)	(25,469,000)					(25,469,000)
Purchases of treasury stock	(3,394,000)			(3,394,000)
Purchases of treasury stock, shares		(110,606)
Issuance of treasury stock under employee stock plans, shares		24,840
Issuance of treasury stock under employee stock plans			(1,211,000)	1,211,000
Restricted stock returned for payment of taxes	(2,387,000)			(2,387,000)
Restricted stock returned for payment of taxes, shares		(62,036)
BALANCE at Dec. 31, 2019	$ 148,287,000	$ 103,000	$ 203,441,000	$ (63,281,000)	$ (2,943,000)	$ 10,967,000
BALANCE, shares at Dec. 31, 2019		8,881,086
Accumulated Other Comprehensive Income (Loss), Tax	$ 43,000

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared, per share	$ 2.88	$ 2.76	$ 2.54

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Cash flows from operating activities:
Net income	$ 5,911	$ 26,751	$ 19,989
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	898	867	1,044
Amortization of intangible assets	1,726	1,672	1,872
Unrealized (gains) losses on investments	(3,650)	737	(617)
Stock-based compensation expense	10,305	15,283	16,430
Deferred income taxes	2,906	(1,749)	7,542
Gain on sale of operations	0	(524)	0
Gain on sale of operations	1,151	1,062	1,042
Changes in operating assets and liabilities:
Net (purchases) sales of investments – trading securities	15,811	(15,194)	5,778
Accounts receivable	5,404	2,678	2,161
Other current assets	(608)	3,755	(4,234)
Accounts payable and accrued liabilities	(382)	(644)	763
Compensation and benefits payable	(5,018)	(3,636)	2,262
Income taxes payable	(849)	1,643	(4,816)
Other liabilities	(1,433)	(1,217)	(1,207)
Cash flows from investing activities:
Purchases of property, equipment and other	(593)	(991)	(1,167)
Proceeds from Divestiture of Businesses	0	10,013	0
Payments to Acquire Investments	(3,671)	5,425	0
Cash flows from financing activities:
Purchases of treasury stock	(2,414)	(4,000)	0
Payment for Repurchases of Stock for Benefit Plan	(980)	(726)	(1,326)
Restricted stock returned for payment of taxes	(2,387)	(4,768)	(5,328)
Cash dividends paid	(26,089)	(24,621)	(21,923)
Effect of currency rate changes on cash	1,863	(2,766)	2,305
Net increase (decrease) in cash and cash equivalents	(2,683)	(1,800)	20,570
Cash and cash equivalents, beginning of year	52,449	54,249	33,679
Cash and cash equivalents, end of year	49,766	52,449	54,249
Supplemental cash flow information:
Cash paid during the year for income taxes	1,431	9,766	10,770
Accrued dividends	8,666	9,286	9,074
Noncash Tenant Improvements	0	237	0
Non Cash Accrued PP&E	0	0	69
Payments to Acquire Intangible Assets	(584)
Net Cash Provided by (Used in) Operating Activities	32,172	31,484	48,009
Net Cash Provided by (Used in) Investing Activities	(4,848)	3,597	(1,167)
Net Cash Provided by (Used in) Financing Activities	$ (31,870)	$ (34,115)	$ (28,577)

Description of the Business

Description of the Business	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Divestiture of our Omaha Operations On September 6, 2017, we entered into an agreement to sell the Omaha-based component of our Wealth Management business. The sale closed on January 12, 2018. We received proceeds of $10.0 million, net of working capital requirements, and recorded a $0.5 million gain on the sale, which is included as “Gain on sale of operations” on our Consolidated Statement of Comprehensive Income. The sale reduced our goodwill and intangible assets, but did not have a material impact on our Consolidated Balance Sheets. The following table presents cash proceeds received and net assets sold (in thousands): Cash Proceeds $ 10,013 Net assets sold: Accounts receivable 99 Other current assets 112 Goodwill 7,340 Intangible assets, net 2,170 Property and equipment, net 18 Accounts payable and accrued liabilities (241) Other liabilities (9) Gain on sale of operations $ 524 The component was reported within both our Advisory and Trust segments. The sale did not represent a major strategic shift in our business and did not qualify for discontinued operations reporting.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation and Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of Westwood and its subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. In the current year, we created items on the Consolidated Statements of Comprehensive Income for unrealized gains on private investments, investment income and other income. Prior year financial statements were not reclassified to conform to this presentation as those amounts are insignificant. We assess each legal entity that we manage to determine whether consolidation is appropriate at the onset of the relationship. We first determine whether the entity is a variable interest entity (“VIE”), or a voting interest entity (“VOE”), under GAAP and whether we have a controlling financial interest in the entity. Assessing whether or not an entity is a VOE or VIE and if it requires consolidation involves judgment and analysis. Factors considered in this assessment include, but are not limited to, the legal organization of the entity, our equity ownership and contractual involvement with the entity and any related party or de facto agent implications of our involvement with the entity. We reconsider whether entities are a VIE or VOE whenever contractual arrangements change, the entity receives additional equity or returns equity to its investors or changes in facts and circumstances occur that change the investors’ abilities to direct the activities of the entity. A VIE is an entity in which (i) the total equity investment at risk is not sufficient to enable the entity to finance its activities without subordinated financial support, (ii) the at-risk equity holders, as a group, lack the characteristics of a controlling financial interest or (iii) the entity is structured with disproportionate voting rights, and substantially all of the activities are conducted on behalf of an investor with disproportionately few voting rights. That is, the at-risk equity holders do not have the obligation to absorb significant losses, the right to receive residual returns and the right to direct the activities of the entity that most significantly impact the entity’s economic performance. An enterprise must consolidate all VIEs of which it is the primary beneficiary. We determine if a sponsored investment meets the definition of a VIE by considering whether the fund’s equity investment at risk is sufficient to finance its activities without additional subordinated financial support and whether the fund’s at-risk equity holders absorb any losses, have the right to receive residual returns and have the right to direct the activities of the entity most responsible for the entity’s economic performance. The primary beneficiary of a VIE is defined as the party that, considering the involvement of related parties and de facto agents, has (i) the power to direct the activities of the VIE that most significantly affect its economic performance and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. This evaluation is updated on a continuing basis. A VOE is an entity that is outside the scope of the guidance for VIEs. Consolidation of a VOE is required when a reporting entity owns a controlling financial interest in a VOE. Ownership of a majority of the voting interests is the usual condition for a controlling financial interest. We evaluated (i) our relationship as sponsor of the Common Trust Funds (“CTFs”) and managing member of the private equity funds Westwood Hospitality Fund I, LLC and Westwood Technology Opportunities Fund I, LP (collectively the “Private Funds”), (ii) our advisory relationships with Westwood Investment Funds PLC (the “UCITS Fund”) and the Westwood Funds®, and (iii) our investments in InvestCloud and Charis discussed in Note 3 “Investments” (“Private Equity”) to determine whether each of these entities is a variable interest entity (“VIE”) or voting ownership entity (“VOE”). Based on our analyses, we determined that the CTFs and Private Funds were VIEs, as the at-risk equity holders do not have the ability to direct the activities that most significantly impact the entities' economic performance, and the Company and its representatives have a majority control of the entities' respective boards of directors and can influence the respective entities' management and affairs. Although we have related parties on the UCITS Fund board of directors, the shareholders have rights to remove the current directors by a simple majority vote and so we determined that the UCITS Fund is not a VIE. Based on our analyses, we determined the UCITS Fund, Westwood Funds®, and Private Equity (i) have sufficient equity at risk to finance the entities' activities independently, (ii) have the obligation to absorb losses, the right to receive residual returns and the right to direct the activities of the entities that most significantly impact the entities' economic performance and (iii) are not structured with disproportionate voting rights. Based on our analyses of our investments in these entities for the periods ending December 31, 2019 and 2018, we have not consolidated the CTFs or Private Funds under the VIE method or the UCITS Fund, Westwood Funds® or Private Equity under the VOE method, and therefore the financial results of these entities are not included in the Company’s consolidated financial results. We have included the disclosures related to VIEs and VOEs in Note 12 “Variable Interest Entities.” Use of Estimates The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents consist of money market accounts and other short-term, highly liquid investments with maturities of three months or less, other than pooled investment vehicles that are considered investments. We maintain some cash and cash equivalents balances with financial institutions that are in excess of Federal Deposit Insurance Corporation insurance limits. The Company has not experienced losses on uninsured cash accounts. Accounts Receivable Accounts receivable represents balances arising from services provided to customers and are recorded on an accrual basis, net of any allowance for doubtful accounts. Accounts receivable are written off when they are determined to be uncollectible. Any allowance for doubtful accounts is estimated based on the Company’s historical amounts written off, existing conditions in the industry, and the financial stability of the customer. The majority of our accounts receivable balances consist of advisory and trust fees receivable from customers that we believe are, and have experienced to be, fully collectible. Accordingly, our Consolidated Financial Statements include neither an allowance for bad debt, nor bad debt expense. Investments Investments measured at fair market value are classified as trading securities and are carried at quoted market values on the accompanying Consolidated Balance Sheets. Net unrealized holding gains or losses on investments classified as trading securities are reflected as a component of other revenues. We measure realized gains and losses on investments using the specific identification method. For an investment without a readily determinable fair value, the Company has elected to apply the measurement alternative of cost minus impairment, if any, plus or minus changes resulting from observable price changes. The Company will reassess whether such an investment qualifies for the measurement alternative at each reporting period. In evaluating an investment for impairment or observable price changes, we will use inputs including recent financing events, as well as other available information regarding the investee's historical and forecasted performance. Fair Value of Financial Instruments We determined the estimated fair values of our financial instruments using available information. The fair value amounts discussed in Notes 3 “Investments” and 4 “Fair Value of Financial Instruments” are not necessarily indicative of either the amounts realizable upon disposition of these instruments or of our intent or ability to dispose of these assets. The estimated fair value of cash and cash equivalents, accounts receivable, prepaid income taxes, other current assets, accounts payable and accrued liabilities, dividends payable, compensation and benefits payable and income taxes payable approximates their carrying value due to their short-term maturities. The carrying amount of investments designated as “trading” securities, primarily U.S. Government and Government agency obligations, money market funds, Westwood Funds® mutual funds, the UCITS Fund and Westwood Trust common trust fund shares, equals fair value based on prices quoted in active markets and, with respect to funds, the reported net asset value (“NAV”) of the shares held. Market values of our money market holdings generally do not fluctuate. Our investment in Westwood Hospitality Fund I, LLC is measured at fair value using NAV. Our investment in Charis Holdings, Inc. ("Charis"), the parent company of Westwood Private Bank, is measured at fair value on a recurring basis using a market approach based on a price to tangible book value multiple that is determined to be reasonable in the current environment, or market transactions. Management believes this valuation methodology is consistent with the banking industry and will reevaluate our methodology and inputs on a quarterly basis. Goodwill and Other Intangible Assets Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Goodwill is tested at least annually for impairment. We test more frequently if indicators are present or changes in circumstances suggest that impairment may exist. These indicators include declines in revenues, earnings or cash flows, or the development of a material adverse change in the business climate. We assess goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a component. We have identified two reporting units, which are consistent with our reporting segments: Advisory and Trust. The Company is not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that its fair value is less than the carrying amount. We assess goodwill for impairment using either a qualitative or quantitative assessment. The qualitative assessment includes consideration of the current trends in the industry in which we operate, macroeconomic conditions and recent financial performance of our reporting units. In performing the annual impairment test during the third quarter, or more frequently when impairment indicators exist, and after assessing the qualitative factors, we may be required to utilize the two-step approach prescribed by ASC 350, Goodwill and Other Intangible Assets. We may also elect to skip the qualitative assessment and proceed directly to the quantitative analysis. The quantitative analysis requires a comparison of each reporting unit’s carrying value to the fair value of the respective unit. If the carrying value exceeds the fair value, an impairment loss is measured by reducing the goodwill to the fair market value. The fair value of each reporting unit is estimated, entirely or predominantly, using a market multiple approach and an income approach. During the third quarter of 2019 we completed our annual goodwill impairment assessment and determined that no impairment loss was required. No impairments were recorded during any of the periods presented. Our intangible assets represent the acquisition date fair value of the acquired client relationships, trade names and the cost of internally-developed software, each of which is reflected net of amortization. In valuing these assets, we made significant estimates regarding their useful lives, growth rates and potential attrition. We periodically review our intangible assets for events or circumstances that would indicate impairment. See Note 5 “Goodwill and Other Intangible Assets.” Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation of furniture and equipment is provided over the estimated useful lives of the assets (from 3 to 7 years), and depreciation on leasehold improvements is provided over the lesser of the estimated useful life or lease term using the straight-line method. We capitalize leasehold improvements, furniture and fixtures, computer hardware and most office equipment purchases. Revenue Recognition Revenues are recognized when the performance obligation (the investment management and advisory or trust services provided to the client) defined by the investment advisory or sub-advisory agreement is satisfied. For each performance obligation, we determine at contract inception whether the revenue satisfies over time or at a point in time. We derive our revenues from investment advisory fees, trust fees and other sources of revenues. Advisory and Trust fees are calculated based on a percentage of AUM and the performance obligation is realized over the then-current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment. Incremental costs to obtain a contract are eligible to be capitalized if the costs are expected to be recovered over the service period. We incur certain incremental costs in obtaining new Trust business and continually evaluate whether costs should be capitalized and amortized over the expected period of benefit of the asset. Certain costs used to fulfill a contract such as the distribution services utilized to sell our Westwood Funds® are expensed as incurred. We recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less. Stock-Based Compensation We have issued restricted stock to our U.S. employees and Board of Directors in accordance with our Sixth Amended and Restated Westwood Holdings Group, Inc. Stock Incentive Plan (the “Plan”). We account for stock-based compensation in accordance with ASC 718, Compensation-Stock Compensation and adopted Accounting Standards Update (“ASU”) 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting effective January 1, 2017. Under ASC 718, stock-based compensation expense reflects the fair value of stock-based awards measured at grant date and is recognized over the relevant service period. We expense the fair value of stock-based compensation awards granted to our employees and directors in our Consolidated Financial Statements on a straight-line basis over the period that services are required to be provided in exchange for the award (“requisite service period”), which is typically the period over which the award vests. Stock-based compensation is recognized only for awards that vest. We measure the fair value of compensation cost related to restricted stock awards based on the closing market price of our common stock on the grant date. For performance-based share awards, we assess actual performance versus the predetermined performance goals and record compensation expense once we conclude it is probable that we will meet the performance goals required to vest the applicable performance-based awards. The following summarizes the effects of the adoption of ASU 2016-09 on our Consolidated Financial Statements: Income Taxes - Upon adoption of this standard, all excess tax benefits and tax deficiencies, including tax benefits of dividends on stock-based payment awards, are recognized as income tax expense or benefit in the Consolidated Statement of Comprehensive Income. The tax effects of exercised or vested awards are treated as discrete items in the reporting period in which they occur. As a result, the Company recognized discrete adjustments to income tax expense of $1.0 million in 2017 related to excess tax benefits. Forfeitures - Prior to adoption, stock-based compensation expense was recognized on a straight-line basis, net of estimated forfeitures, such that expense was recognized for stock-based awards that were expected to vest. A forfeiture rate was estimated annually and revised, if necessary, in subsequent periods if actual forfeitures differed from initial estimates. Upon adoption of this standard, the Company no longer applies an estimated forfeiture rate and instead accounts for forfeitures as they occur. The Company applied the modified retrospective adoption approach, resulting in a $0.7 million cumulative-effect reduction to “Retained earnings” with the offset to “Additional paid-in-capital” on January 1, 2017. The Share Award Plan of Westwood Holdings Group, Inc. for Service Provided in Canada to its Subsidiaries (the “Canadian Plan”) provides compensation in the form of common stock for services performed by employees of Westwood International Advisors. We record compensation costs for these awards on a straight-line basis over the vesting period once we determine it is probable that the award will be earned. Awards expected to be settled in shares are funded into a trust pursuant to an established Canadian employee benefit plan. Generally, the Canadian trust subsequently acquires Westwood common shares in market transactions and holds such shares until the shares are vested and distributed, or forfeited. Shares held in the trust are shown on our Consolidated Balance Sheet as treasury shares. Until shares are acquired by the trust, we record compensation costs and measure the liability as a cash-based award, which is included in “Compensation and benefits payable” on our Consolidated Balance Sheets. For the years ended December 31, 2019, 2018 and 2017, the compensation expense recorded for these awards was $0.2 million, $0.1 million and $0.2 million, respectively. When the number of shares related to an award is determinable, the award becomes an equity award accounted for in a manner similar to restricted stock, which is described in Note 10 “Employee Benefits.” Currency Translation and Re-measurement Assets and liabilities of Westwood International Advisors, our non-U.S. dollar functional currency subsidiary, are translated at exchange rates as of applicable reporting dates. The gains and losses resulting from translating non-U.S. dollar functional currency into U.S. dollars are recorded through other comprehensive income. Revenue and expense transactions are recorded at the rates of exchange prevailing on the dates of the transactions. Gains and losses resulting from transactions in foreign currencies are included in “(Gain) loss on foreign currency transactions” in our Consolidated Statements of Comprehensive Income. For the year ended December 31, 2019, we recorded a loss of $1.9 million, for the year ended December 31, 2018, we recorded a gain of $2.8 million, and for the year ended December 31, 2017, we recorded a loss of $1.6 million. Income Taxes We file a U. S. federal income tax return as a consolidated group for Westwood and its subsidiaries based in the U. S. We file a Canadian income tax return for Westwood International Advisors. Deferred income tax assets and liabilities are determined based on temporary differences between the financial statements and income tax bases of assets and liabilities as measured at enacted income tax rates. Deferred income tax expense is generally the result of changes in deferred tax assets and liabilities. Deferred taxes relate primarily to incentive compensation and stock-based compensation expense. We record net deferred tax assets to the extent we believe such assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax- planning strategies, and results of recent operations. In the event we were to determine that we would not be able to realize our deferred income tax assets in the future, we would record a valuation allowance. No such valuation allowance has been recorded in our Consolidated Financial Statements. We account for uncertain tax positions by recognizing the impact of a tax position in our Consolidated Financial Statements when we believe it is more likely than not that the tax position would not be sustained upon examination by the appropriate tax authority based on the merits of the position. We include penalties and interest on income-based taxes, if any, in the “General and administrative” line on our Consolidated Statements of Comprehensive Income. See Note 7 “Income Taxes.” The Tax Reform Act that was signed into law in 2017 provides for a territorial tax system, beginning in 2018, it includes two new U.S. tax base erosion provisions, the global intangible low-taxed income (“GILTI”) provisions and the base-erosion and anti-abuse tax (“BEAT”) provisions. The GILTI provisions require the Company to include in its U.S. income tax return any foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. We had no U.S. tax liability on GILTI for the years ended December 31, 2019 and 2018. We have elected to account for GILTI tax expense in the period in which it is incurred, and therefore have not provided any deferred tax impacts of GILTI in our Consolidated Financial Statements for the years ended December 31, 2019 and 2018. The BEAT provisions in the Tax Reform Act eliminate the deduction of certain base-erosion payments made to related foreign corporations and impose a minimum tax if the recalculated taxable income under BEAT is greater than regular taxable income. We do not expect to be subject to this tax and therefore have not included any tax impacts of BEAT in our Consolidated Financial Statements for the years ended December 31, 2019 and 2018. Recent Accounting Pronouncements Recently Adopted In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases . ASU 2016-02 requires lessees to recognize a lease liability and a right-of-use asset for all leases at the commencement date, excluding short-term leases. Leases will be classified as either financing or operating, with classification impacting the pattern of expense recognition in the income statement. The amendment was effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We adopted the standard as of January 1, 2019 under the modified retrospective approach, which provides a method for recording existing leases at adoption and in comparative periods that approximates the results of a full retrospective approach. We elected the package of practical expedients permitted under the transition guidance, which, among other things, allows us to carry forward the historical lease classification and elect hindsight to determine certain lease terms for existing leases. See further discussion in Note 13 “Leases.” The following tables summarize the impacts of the adoption of ASU 2016-02 to our previously reported results (both in thousands): Balance Sheet as of December 31, 2018: As Previously Reported New Lease Standard Adjustment Recast Operating lease right-of-use assets $ — $ 8,698 $ 8,698 Operating lease liabilities — 1,432 1,432 Noncurrent operating lease liabilities — 9,331 9,331 Deferred rent 2,065 (2,065) — For the year ended December 31, 2018 For the year ended December 31, 2017 Statements of Cash Flows: As Previously Reported New Lease Standard Adjustment Recast As Previously Reported New Lease Standard Adjustment Recast Non-cash lease expense $ — $ 1,062 $ 1,062 $ — $ 1,042 $ 1,042 Other liabilities (155) (1,062) (1,217) (165) (1,042) (1,207) In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting . The purpose of this amendment is to simplify the accounting for stock-based payments granted to nonemployees for goods and services by aligning it with the accounting used for arrangements with employees. We adopted the standard as of January 1, 2019 and it did not have a material impact on our Consolidated Financial Statements. Not Yet Adopted In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurement . The purpose of this amendment is to modify, remove and add certain disclosure requirements for fair value measurements. Under ASU 2018-13, entities are required to disclose the amount of total gains or losses recognized in other comprehensive income attributable to assets and liabilities categorized within Level 3 of the fair value hierarchy. The ASU also adds an incremental requirement about significant unobservable inputs for Level 3 fair value measurements. The requirement to disclose reasons for transfers between Level 1 and Level 2 was removed. Various requirements for Level 3 disclosure were also modified. The amendments in this ASU are effective for all entities for fiscal years and interim periods beginning after December 15, 2019. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt this amendment within the required time frame. In August 2018, the FASB issued ASU 2018-15, Intangibles- Goodwill and Other - Internal-Use Software (Topic 350): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The purpose of this amendment is to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The amendments in this update are effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt the standard within the required time frame. In May 2019, the FASB issued ASU 2019-05, Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief. The purpose of this amendment is to amend ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , to allow companies to irrevocably elect, upon adoption of ASU 2016-13, the fair value option on financial instruments that were previously recorded at amortized cost and are within the scope of ASC 326-20, Financial Instruments-Credit Losses: Amortization Cost , if the instruments are eligible for the fair value option under Accounting Standards Codification 825 - Financial Instruments. The fair value option election does not apply to held-to-maturity debt securities. The amendments in this update are effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt the standard within the required time frame.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE MEASUREMENTS: ASC 820, Fair Value Measurements , defines fair value, establishes a framework for measuring fair value and requires additional disclosures regarding certain fair value measurements. ASC 820 establishes a three-tier hierarchy for measuring fair value, as follows: • Level 1 – quoted market prices in active markets for identical assets and liabilities • Level 2 – inputs other than quoted prices that are directly or indirectly observable • Level 3 – unobservable inputs where there is little or no market activity Our strategic investment in InvestCloud discussed in Note 3 "Investments" is excluded from the recurring fair value table shown below, as we have elected to apply the measurement alternative for that investment. The following table summarizes the values of our assets and liabilities as of the dates indicated within the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Measured at NAV (1) Total As of December 31, 2019 Investments in trading securities $ 50,324 $ — $ — $ — $ 50,324 Private investment fund — — — 263 263 Private equity — — 3,975 — 3,975 Total assets measured at fair value $ 50,324 $ — $ 3,975 $ 263 $ 54,562 As of December 31, 2018 Investments in trading securities $ 65,781 $ — $ — $ — $ 65,781 Total assets measured at fair value $ 65,781 $ — $ — $ — $ 65,781 (1) Comprised of certain investments measured at fair value using NAV as a practical expedient. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on our Consolidated Balance Sheets.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS: Goodwill Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Changes in goodwill were as follows (in thousands): As of December 31, 2019 2018 Beginning balance $ 19,804 $ 27,144 Omaha divestiture — (7,340) Ending balance $ 19,804 $ 19,804 Other Intangible Assets Our intangible assets represent the acquisition date fair value of acquired client relationships, trade names and internally-developed software, and are reflected net of amortization. In valuing these assets, we made significant estimates regarding their useful lives, growth rates and potential attrition. The following is a summary of intangible assets at December 31, 2019 and 2018 (in thousands, except years): Weighted Average Amortization Period (years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount 2019 Client relationships 14.8 $ 21,431 $ (7,416) $ 14,015 Internally developed software 5.8 1,439 (233) 1,206 Trade names 4.9 708 (673) 35 $ 23,578 $ (8,322) $ 15,256 2018 Client relationships 14.8 $ 21,431 $ (5,960) $ 15,471 Internally developed software 7.0 418 (99) 319 Trade names 4.9 708 (537) 171 $ 22,557 $ (6,596) $ 15,961 Amortization expense, which is included in “General and administrative” expense on our Consolidated Statements of Comprehensive Income, was $1.7 million, $1.7 million and $1.9 million for the years ended December 31, 2019, 2018 and 2017, respectively. Estimated amortization expense for intangible assets over the next five years is as follows (in thousands): For the year ending December 31, Estimated Amortization Expense 2020 $ 1,658 2021 $ 1,548 2022 $ 1,548 2023 $ 1,529 2024 $ 1,454

Balance Sheet Components

Balance Sheet Components	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BALANCE SHEET COMPONENTS	BALANCE SHEET COMPONENTS: Property and Equipment The following table reflects information about our property and equipment as of December 31, 2019 and 2018 (in thousands): As of December 31, 2019 2018 Leasehold improvements $ 5,517 $ 4,714 Furniture and fixtures 2,906 2,716 Computer hardware and office equipment 3,118 2,996 Construction in progress 6 490 Accumulated depreciation (7,395) (6,462) Property and equipment, net $ 4,152 $ 4,454

Regulatory Capital Requirements

Regulatory Capital Requirements	12 Months Ended
	Dec. 31, 2019
Banking and Thrift [Abstract]
REGULATORY CAPITAL REQUIREMENTS	REGULATORY CAPITAL REQUIREMENTS: Westwood Trust must maintain cash and investments in an amount equal to the required minimum restricted capital of $4.0 million as required by the Texas Finance Code. Restricted capital is included in Investments in the accompanying Consolidated Balance Sheets. At December 31, 2019, Westwood Trust had approximately $7.9 million in excess of its minimum capital requirement. Westwood Trust is limited under applicable Texas law in the payment of dividends of undivided profits, which is that part of equity capital equal to the balance of net profits, income, gains and losses since formation minus subsequent distributions to stockholders and transfers to surplus or capital under share dividends or appropriate Board resolutions. At the discretion of its Board of Directors, Westwood Trust may make quarterly and special dividend payments, or other distributions, to us out of its undivided profits. No dividend payments were made to us in 2019, 2018 or 2017. Westwood International Advisors is subject to the working capital requirements of the Ontario Securities Commission, which requires that combined cash and receivables exceed current liabilities by at least $100,000 CDN. At December 31, 2019 Westwood International Advisors had combined cash and receivables that were $49.2 million CDN (or $37.9 million in U.S. dollars using the exchange rate on December 31, 2019) in excess of its current liabilities, which satisfies this requirement.

Revenue (Notes)

Revenue (Notes)	12 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Advisory Fee Revenues Our advisory fees are generated by Westwood Management and Westwood International, which manage client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and are paid in accordance with the terms of the agreements. Advisory fees are paid quarterly in advance based on AUM on the last day of the preceding quarter, quarterly in arrears based on AUM on the last day of the quarter just ended or are based on a daily or monthly analysis of AUM for the stated period. We recognize advisory fee revenues as services are rendered. Since our advance paying clients' billing periods coincide with the calendar quarter to which such payments relate, revenue is recognized within the quarter and our Consolidated Financial Statements contain no deferred advisory fee revenues. Advisory clients typically consist of institutional and mutual fund accounts. Institutional investors include separate accounts of (i) corporate pension and profit sharing plans, public employee retirement funds, Taft-Hartley plans, endowments, foundations and individuals; (ii) subadvisory relationships where Westwood provides investment management services for funds offered by other financial institutions; (iii) pooled investment vehicles, including the UCITS Fund and collective investment trusts; and (iv) managed account relationships with brokerage firms and other registered investment advisors that offer Westwood products to their customers. Mutual funds include the Westwood Funds®, a family of mutual funds for which Westwood Management serves as advisor. These funds are available to individual investors, as well as offered as part of our investment strategies for institutional investors and wealth management accounts. Arrangements with Performance Based Obligations A limited number of our advisory clients have a contractual performance-based fee component in their contracts, which generates additional revenues if we outperform a specified index over a specific period of time, and a limited number of our mutual fund offerings have fees that generate additional revenues if we outperform specified indices over specific periods of time. The revenue is based on future market performance and is subject to factors outside our control. We cannot conclude that a significant reversal in the cumulative amount of revenue recognized will not occur during the measurement period, and therefore the revenue is recorded at the end of the measurement period when the performance obligation has been satisfied. Trust Fee Revenues Our trust fees are generated by Westwood Trust pursuant to trust or custodial agreements. Trust fees are separately negotiated with each client and are generally based on a percentage of AUM. Westwood Trust also provides trust services to a small number of clients on a fixed fee basis. The fees for most of our trust clients are calculated quarterly in arrears, based on a daily average of AUM for the quarter, or monthly, based on the month-end value of AUM. Since billing periods for most of Westwood Trust’s clients coincide with the calendar quarter, revenue is fully recognized within the quarter and our Consolidated Financial Statements contain no deferred advisory fee revenues. Disaggregated Revenues Sales taxes are excluded from revenues. The following table presents our revenue disaggregated by account type (in thousands): Year Ended December 31, 2019 2018 2017 Advisory Fees: Institutional $ 37,289 $ 59,345 $ 69,029 Mutual Funds 19,288 29,792 30,172 Wealth Management 456 230 — Performance-based 764 2,984 1,411 Trust Fees 25,483 28,953 31,621 Other 799 996 1,552 Total revenues $ 84,079 $ 122,300 $ 133,785 We have clients in various locations around the world. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands): Year Ended December 31, 2019 Advisory Trust Performance-based Other Total Asia $ 1,639 $ — $ — $ — $ 1,639 Australia 591 — — — 591 Canada 2,740 — — 282 3,022 Europe 3,703 — 764 — 4,467 U.S. 48,360 25,483 — 517 74,360 Total $ 57,033 $ 25,483 $ 764 $ 799 $ 84,079 Year Ended December 31, 2018 Advisory Trust Performance-based Other Total Asia $ 4,305 $ — $ — $ — $ 4,305 Australia 3,783 — — — 3,783 Canada 6,605 — — 163 6,768 Europe 4,860 — — — 4,860 U.S. 69,814 28,953 2,984 833 102,584 Total $ 89,367 $ 28,953 $ 2,984 $ 996 $ 122,300 Year Ended December 31, 2017 Advisory Trust Performance-based Other Total Asia $ 6,312 $ — $ — $ — $ 6,312 Australia 3,334 — — — 3,334 Canada 8,737 — — 432 9,169 Europe 3,873 — — — 3,873 U.S. 76,945 31,621 1,411 1,120 111,097 Total $ 99,201 $ 31,621 $ 1,411 $ 1,552 $ 133,785

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
EMPLOYEE BENEFITS	EMPLOYEE BENEFITS: Restricted Stock Awards We have issued restricted shares to our employees and non-employee directors. The Plan reserves shares of Westwood common stock for issuance to eligible employees, directors and consultants of Westwood or its subsidiaries in the form of restricted stock and stock options. In April 2019, stockholders approved an additional 200,000 shares to be authorized under the Plan, increasing the total number of shares issuable under the Plan (including predecessor plans to the Plan) to 5,048,100 shares. In the event of a change in control of Westwood, the Plan contains provisions providing for the acceleration of the vesting of restricted stock. At December 31, 2019, approximately 527,000 shares remain available for issuance under the Plan. The following table presents the total stock-based compensation expense recorded and the total income tax benefit recognized for stock-based compensation arrangements for the years indicated (in thousands): For the years ended December 31, 2019 2018 2017 Service condition restricted stock expense $ 7,240 $ 9,941 $ 10,334 Performance-based restricted stock expense 2,388 4,760 5,387 Restricted stock expense under the Plan 9,628 14,701 15,721 Canadian Plan restricted stock expense 677 582 709 Total stock-based compensation expense $ 10,305 $ 15,283 $ 16,430 Total income tax benefit recognized related to stock-based compensation $ 1,932 $ 3,592 $ 6,168 Restricted Stock Under the Plan, we have granted to employees and non-employee directors restricted stock subject to service conditions and to certain key employees restricted stock subject to both service and performance conditions. We accrue dividends on unvested restricted stock, which are due and payable upon vesting of restricted stock. Accrued dividends coming due within the next twelve months are included in “Dividends payable” on the Consolidated Balance Sheets, with the remaining noncurrent portion of accrued dividends included in “Accrued dividends” on the Consolidated Balance Sheets. At December 31, 2019, we had recorded $7.4 million and $1.3 million in Dividends payable and Accrued dividends, respectively. At December 31, 2018, we had recorded $7.7 million and $1.6 million in Dividends payable and Accrued dividends, respectively. As of December 31, 2019, there was approximately $13.4 million of unrecognized compensation cost for restricted stock grants under the Plan, which we expect to recognize over a weighted-average period of 2.1 years. In order to satisfy tax liabilities that employees will owe on their shares that vest, we may withhold a sufficient number of vested shares from employees on the date vesting occurs to cover minimum tax withholding requirements. We withheld 62,036 shares in 2019 for this purpose. Our two types of restricted stock grants under the Plan are discussed below. Restricted Stock Subject Only to a Service Condition For the years ended December 31, 2019, 2018 and 2017, we granted restricted stock to employees and non-employee directors. Employee shares generally vest over four years and Director shares vest over one year. We calculate compensation cost for restricted stock grants using the fair market value of our common stock at the date of grant, the number of shares issued and an adjustment for restrictions on dividends. This compensation cost is amortized on a straight-line basis over the applicable vesting period. The following table details the status and changes in our restricted stock grants that are subject only to a service condition for the year ended December 31, 2019: Number of Shares Weighted Average Grant Date Fair Value Non-vested, January 1, 2019 440,073 $ 56.40 Granted 198,295 38.64 Vested (162,287) 57.14 Forfeited (79,483) 50.92 Non-vested, December 31, 2019 396,598 $ 48.31 The following table shows the weighted-average grant date fair value for shares granted and the total fair value of shares vested during the years indicated: Years ended December 31, 2019 2018 2017 Weighted-average grant date fair value $ 38.64 $ 55.92 $ 61.20 Fair value of shares vested (in thousands) $ 9,273 $ 11,189 $ 10,764 Restricted Stock Subject to Service and Performance Conditions Under the Plan, certain key employees were provided agreements for grants of restricted shares that vest over multiple year periods subject to achieving annual performance goals established by the Compensation Committee of Westwood’s Board of Directors. Each year the Compensation Committee establishes specific goals for that year’s vesting of the restricted shares. The date that the Compensation Committee establishes annual goals is considered to be the grant date and the fair value measurement date to determine expense on the shares that are likely to vest. The vesting period ends when the Compensation Committee formally approves the performance-based restricted stock vesting based on the specific performance goals from the Company’s audited consolidated financial statements. If a portion of the performance-based restricted shares does not vest, no compensation expense is recognized for that portion and any previously recognized compensation expense related to shares that do not vest is reversed. In March 2019, the Compensation Committee established the 2019 goals based on various departmental and company-wide performance goals. Throughout 2019, we recorded expense related to the applicable percentage of the performance-based restricted shares expected to meet or exceed the performance goals needed to earn the shares. The following table details the status and changes in our restricted stock grants subject to service and performance conditions for the year ended December 31, 2019: Number of Shares Weighted Average Grant Date Fair Value Non-vested, January 1, 2019 156,293 $ 55.66 Granted 24,670 37.90 Vested (80,493) 56.09 Forfeited (19,495) 55.18 Non-vested, December 31, 2019 80,975 $ 49.73 The following table shows the weighted-average grant date fair value for shares granted and the total fair value of shares vested during the years indicated: Years ended December 31, 2019 2018 2017 Weighted-average grant date fair value $ 37.90 $ 51.85 $ 54.86 Fair value of shares vested (in thousands) $ 4,515 $ 5,485 $ 5,792 Canadian Plan As discussed in Note 2, the Canadian Plan provides compensation in the form of common stock for services performed by employees of Westwood International Advisors. Under the Canadian Plan, no more than $10.0 million CDN (or $7.7 million in U.S. Dollars using the exchange rate on December 31, 2019) may be funded to the Plan Trustee to fund purchases of common stock with respect to awards granted under the Canadian Plan. At December 31, 2019, approximately $1.7 million remains available for issuance under the Canadian Plan, or approximately 59,000 shares based on the closing share price of our stock of $29.62 as of the last business day of 2019. During 2019, the trust formed pursuant to the Canadian Plan purchased in the open market 25,047 Westwood common shares for approximately $1.0 million. On December 3, 2019, 24,840 shares vested at a total fair value of approximately $0.8 million. As of December 31, 2019, the trust holds 36,238 shares of Westwood common stock. As of December 31, 2019, unrecognized compensation cost related to restricted stock grants under the Canadian Plan totaled $0.7 million, which we expect to recognize over a weighted-average period of 1.7 years. Mutual Fund Share Incentive Awards We may grant mutual fund incentive awards, which are bonus awards based on our mutual funds achieving specific performance goals, annually to specific employees. Awards granted are notionally credited to a participant account maintained by us that contains a number of mutual fund shares equal to the award amount divided by the net closing value of a fund share on the date the amount is credited to the account. We maintain the award in a corporate investment account until vesting. The investment may increase or decrease based on changes in the value of the mutual fund shares awarded, including reinvested income from the mutual funds during the vesting period. Unvested mutual fund awards are included under "Investments, at fair value" on our Consolidated Balance Sheets. Awards vest after approximately two three years. During the year in which the amount of the award is determined, we record expense based on the expected value of the award. After the award is earned, we record expense based on the value of the shares awarded and the percentage of the vesting period that has elapsed. Our liability under these awards may increase or decrease based on changes in the value of the mutual fund shares awarded, including reinvested income from the mutual funds during the vesting period. Upon vesting, participants receive the value of the mutual fund share awards adjusted for earnings or losses attributable to the underlying mutual funds. For the year ended December 31, 2019, mutual fund share incentive award activity was insignificant. For the years ended December 31, 2018, and 2017, we recorded expense of $0.3 million and $1.2 million, respectively, related to mutual fund share incentive awards. As of December 31, 2019 and 2018, we had an accrued liability of $0.1 million and $0.6 million, respectively, related to mutual fund incentive awards. Deferred Share Units We have a deferred share unit (“DSU”) plan for employees of Westwood International Advisors. A DSU is an award linked to the value of Westwood’s common stock and is represented by a notional credit to a participant account. The value of a DSU is initially equal to the value of a share of our common stock. Beginning in 2018, DSUs vest 50%, 25% and 25% after two, three and four years of service, respectively, and become fully vested after four years of service. For awards granted prior to 2018, DSUs vest 20%, 40%, 60%, and 80% after two, three, four and five years of service, respectively, and become fully vested after six years of service. The liability for these units is settled in cash upon termination of the participant’s service. We record expense for DSUs based on the number of units vested on a straight line basis, which may increase or decrease based on changes in the price of our common shares, and will increase for additional units received from dividends declared on our shares. As of December 31, 2019, we had an accrued liability of $0.5 million for 17,401 deferred share units related to the 2012 to 2017 awards issued from 2013 to 2018, which is based on the $29.62 per share closing price of our common stock on the last trading day of the year ended December 31, 2019. As of December 31, 2018, we had an accrued liability of $0.4 million for 13,544 deferred share units related to the 2012 to 2017 awards issued from 2013 to 2018, which was based on the $34.00 per share closing price of our common stock on the last trading day of the year ended December 31, 2018. Benefit Plans Westwood has a defined contribution and profit-sharing plan that was adopted in July 2002 and covers substantially all of our employees. Beginning with the 2017 contribution, discretionary employer profit-sharing contributions become fully vested after four years of service by the participant. For U.S. employees, Westwood provides a 401(k) match of up to 6% of eligible compensation. For Westwood International Advisors employees, Westwood provides a Registered Retirement Savings Plan match of up to 6% of eligible compensation. These retirement plan matching contributions vest immediately. The following table displays our profit-sharing and retirement plan contributions for the periods presented (in thousands): Years ended December 31, 2019 2018 2017 Profit-sharing contributions $ 31 $ 926 $ 1,613 Retirement plan matching contributions 1,597 1,604 1,602

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE: Basic earnings per common share (“EPS”) is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding. Diluted EPS is computed based on the weighted average shares of common stock outstanding plus the effect of any dilutive shares of restricted stock granted to employees and non-employee directors. There were approximately 76,000, 7,300 and 6,614 anti-dilutive restricted shares as of December 31, 2019, 2018 and 2017, respectively. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share and share amounts): Years ended December 31, 2019 2018 2017 Net income $ 5,911 $ 26,751 $ 19,989 Weighted average shares outstanding – basic 8,408,017 8,365,360 8,147,742 Dilutive potential shares from unvested restricted shares 55,222 182,010 252,280 Weighted average shares outstanding – diluted 8,463,239 8,547,370 8,400,022 Earnings per share: Basic $ 0.70 $ 3.20 $ 2.45 Diluted $ 0.70 $ 3.13 $ 2.38

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2019
Variable Interest Entities [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES: As discussed in Note 2 “Summary of Significant Accounting Policies,” the CTFs and Private Funds (together the “Westwood VIEs”) are considered VIEs, and the Westwood Funds®, UCITS Fund and the Private Equity are considered VOEs (together the “Westwood VOEs”). We receive fees for managing assets in these entities commensurate with market rates. As of December 31, 2019 and 2018, we evaluated all of the Westwood VIEs and Westwood VOEs to determine whether or not we should consolidate the entities into our Consolidated Financial Statements. For the Westwood VIEs, we evaluated whether or not we qualify as the primary beneficiary based on whether we have the obligation to absorb significant losses, the right to receive residual returns and the right to direct the activities of the entity that most significantly impact the entity’s economic performance. For the Westwood VOEs, we evaluated whether or not we own a controlling financial interest in the entities. Based on our analyses, we have not consolidated the Westwood VIEs or Westwood VOEs into our Consolidated Financial Statements for the years ended December 31, 2019 or 2018. As of December 31, 2019 and 2018, the Company had seed investments totaling $6.4 million and $6.1 million, respectively, in the Westwood Funds®. These seed investments were provided for the sole purpose of showing economic substance needed to establish the funds or sub-funds. The Company's seed investments in these funds are included in “Investments, at fair value” on our Consolidated Balance Sheets. We have not otherwise provided any financial support that we were not previously contractually obligated to provide and there are no arrangements that would require us to provide additional financial support to any of these entities. Our seed investments in the Westwood Funds® are accounted for as investments in accordance with our other investments described in Note 3 “Investments.” We recognized fee revenue from the Westwood VIEs and Westwood VOEs of approximately $31.0 million, $46.1 million and $51.9 million for the twelve months ended December 31, 2019, 2018 and 2017, respectively. The following table displays the AUM, the amount of our seed investments that are included in “Investments” and “Investments, at fair value” on the Consolidated Balance Sheets, and the financial risk of loss in each vehicle (in millions): As of December 31, 2019 Assets Under Management Corporate Investment Amount at Risk VIEs/VOEs: Westwood Funds® $ 2,058 $ 6 $ 6 Common Trust Funds 1,409 $ — $ — UCITS Fund 319 $ — $ — Private Funds 13 $ 0.3 $ 0.3 Private Equity — $ 12 $ 12 All other assets: Wealth Management 3,016 Institutional 8,420 Total AUM $ 15,235

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 there was approximately $0.1 million in fees due from these accounts. For each of the years ended December 31, 2019, 2018 and 2017, we recorded trust fees from these accounts of $0.4 million. The Company engages in transactions with its affiliates as part of its operations. Westwood International Advisors and Westwood Management provide investment advisory services to the UCITS Fund and the Westwood Funds®. Certain members of our management serve on the board of directors of the UCITS Fund, and we have capital invested in three of the Westwood Funds®. Under the terms of the investment advisory agreements, the Company earns fees paid by either clients of the fund or directly by the funds. The fees are based on negotiated fee schedules applied to AUM. For the years ended December 31, 2019, 2018 and 2017, we recorded fees from the affiliated Funds of $2.8 million, $4.2 million and $4.0 million, respectively, which are included in “Asset-based advisory fees” on our Consolidated Statement of Comprehensive Income. As of December 31, 2019 and 2018, $0.2 million and $0.3 million of these fees were unpaid and included in “Accounts receivable” on our Consolidated Balance Sheets, respectively .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES: The following table summarizes our contractual obligations as of December 31, 2019 (in thousands): Payments due in: Total Less than 1 year 1-3 years 4-5 years Thereafter Purchase obligations $ 11,018 $ 4,385 $ 4,394 $ 1,715 $ 524 Litigation On August 3, 2012, AGF Management Limited and AGF Investments Inc. (together “AGF”) filed a lawsuit in the Ontario Superior Court of Justice against Westwood, certain Westwood employees and the executive recruiting firm of Warren International, LLC (“Warren”). The action related to the hiring of certain members of Westwood’s emerging markets investment team previously employed by AGF. On November 5, 2012, Westwood responded to AGF’s lawsuit with a counterclaim against AGF, and on November 6, 2012, AGF filed a second lawsuit against Westwood, Westwood Management and an employee of a Westwood subsidiary. On October 13, 2017, we reached a settlement with AGF that provided for the dismissal of all claims, with prejudice and without any admission of liability. We agreed to pay AGF a one-time payment of $10 million CDN, half of which was covered by our insurance. We recorded a net $4.0 million ($5 million CDN) charge related to the settlement and associated insurance coverage, with a $4.0 million ($5 million CDN) receivable from our insurance provider included in “Other current assets” on our Consolidated Balance Sheets at December 31, 2017. We received the insurance proceeds of $4.0 million during 2018 and had no receivable related to the settlement on our Consolidated Balance Sheets as of December 31, 2019 and 2018.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING: We operate two segments: Advisory and Trust. These segments are managed separately based on the types of products and services offered and their related client bases. The Company’s segment information is prepared on the same basis that management uses to review the financial information for operational decision-making purposes. The Company's chief operating decision maker, our Chief Executive Officer, evaluates the performance of our segments based primarily on fee revenues and Economic Earnings. Westwood Holdings Group, Inc., the parent company of Advisory and Trust, does not have revenues and is the entity in which we record typical holding company expenses including employee compensation and benefits for holding company employees, directors’ fees and investor relations costs. All segment accounting policies are the same as those described in the summary of significant accounting policies. Intersegment balances that eliminate in consolidation have been applied to the appropriate segment. Advisory Our Advisory segment provides investment advisory services to corporate retirement plans, public retirement plans, endowments, foundations, individuals, the Westwood Funds®, and the UCITS Fund, as well as investment subadvisory services to mutual funds and our Trust segment. Westwood Management Corp. and Westwood International Advisors, which provide investment advisory services to clients of similar type, are included in our Advisory segment, along with Westwood Advisors, L.L.C. Trust Westwood Trust provides trust and custodial services and participation in common trust funds that it sponsors to institutions and high net worth individuals. Westwood Trust is included in our Trust segment. (in thousands) Advisory Trust Westwood Holdings Eliminations Consolidated Year Ended December 31, 2019 Revenues: Net fee revenues from external sources $ 57,797 $ 25,483 $ — $ — $ 83,280 Net intersegment revenues 3,457 236 — (3,693) — Net interest and dividend revenue 103 — — — 103 Other revenue 696 — — — 696 Total revenues 62,053 25,719 — (3,693) 84,079 Expenses: Depreciation and amortization 311 1,765 548 — 2,624 Other operating expenses 46,235 19,672 14,597 (3,693) 76,811 Total expenses 46,546 21,437 15,145 (3,693) 79,435 Unrealized gains on private investments 1,438 1,026 832 — 3,296 Investment income 1,017 298 3 — 1,318 Other income — — 144 — 144 Income (loss) before income taxes 17,962 5,606 (14,166) — 9,402 Income tax expense (benefit) 4,308 1,459 (2,276) — 3,491 Net income (loss) $ 13,654 $ 4,147 $ (11,890) $ — $ 5,911 Add: Stock-based compensation expense $ 5,362 $ 1,587 $ 3,356 $ — $ 10,305 Intangible amortization 170 1,516 40 — 1,726 Deferred taxes on goodwill — 237 — — 237 Economic Earnings (Loss) $ 19,186 $ 7,487 $ (8,494) $ — $ 18,179 Segment assets $ 242,854 $ 51,274 $ 24,732 $ (140,153) $ 178,707 Segment goodwill $ 3,403 $ 16,401 $ — $ — $ 19,804 Expenditures for long-lived assets $ 288 $ 223 $ 82 $ — $ 593 Year Ended December 31, 2018 Revenues: Net fee revenues from external sources $ 92,351 $ 28,953 $ — $ — $ 121,304 Net intersegment revenues 6,973 238 — (7,211) — Net interest and dividend revenue 708 202 — — 910 Other revenue 53 33 — — 86 Total revenues 100,085 29,426 — (7,211) 122,300 Expenses: Depreciation and amortization 276 1,764 499 — 2,539 Other operating expenses 48,970 25,467 16,597 (7,211) 83,823 Total expenses 49,246 27,231 17,096 (7,211) 86,362 Gain (loss) on sale of operations (1) (16) 541 — 524 (in thousands) Advisory Trust Westwood Holdings Eliminations Consolidated Income (loss) before income taxes 50,838 2,179 (16,555) — 36,462 Income tax expense (benefit) 12,032 572 (2,893) — 9,711 Net income $ 38,806 $ 1,607 $ (13,662) $ — $ 26,751 Add: Stock-based compensation expense $ 8,673 $ 2,356 $ 4,254 $ — $ 15,283 Intangible amortization 95 1,537 40 — 1,672 Deferred taxes on goodwill — 237 — — 237 Economic Earnings (Loss) $ 47,574 $ 5,737 $ (9,368) $ — $ 43,943 Segment assets $ 230,565 $ 64,196 $ 19,240 $ (114,818) $ 199,183 Segment goodwill 3,403 16,401 — — 19,804 Expenditures for long-lived assets $ 314 $ 295 $ 382 $ — $ 991 Year Ended December 31, 2017 Revenues: Net fee revenues from external sources $ 100,612 $ 31,621 $ — $ — $ 132,233 Net intersegment revenues 8,120 218 — (8,338) — Net interest and dividend revenue 546 90 — — 636 Other revenue 911 5 — — 916 Total revenues 110,189 31,934 — (8,338) 133,785 Expenses: Depreciation and amortization 548 1,900 468 — 2,916 Other operating expenses 58,950 28,580 17,784 (8,338) 96,976 Total expenses 59,498 30,480 18,252 (8,338) 99,892 Income (loss) before income taxes 50,691 1,454 (18,252) — 33,893 Income tax expense (benefit) 17,120 (47) (3,169) — 13,904 Net income (loss) $ 33,571 $ 1,501 $ (15,083) $ — $ 19,989 Add: Stock-based compensation expense $ 9,140 $ 2,641 $ 4,649 $ — $ 16,430 Intangible amortization 138 1,734 — — 1,872 Deferred taxes on goodwill 38 588 — — 626 Economic Earnings (Loss) $ 42,887 $ 6,464 $ (10,434) $ — $ 38,917 Segment assets $ 207,792 $ 69,174 $ 18,437 $ (102,744) $ 192,659 Segment goodwill $ 5,219 $ 21,925 $ — $ — $ 27,144 Expenditures for long-lived assets $ 151 $ 530 $ 203 $ — $ 884 We provide a performance measure that we refer to as Economic Earnings. Our management and Board of Directors review Economic Earnings to evaluate our ongoing performance, allocate resources and determine our dividend policy. We believe that this performance measure is useful for management and investors when evaluating our underlying operating and financial performance and our available resources. In calculating Economic Earnings, we add to Net income the non-cash expense associated with equity-based compensation awards of restricted stock, amortization of intangible assets and the deferred taxes related to the tax-basis amortization of goodwill. Although depreciation on property and equipment is a non-cash expense, we do not add it back when calculating Economic Earnings because depreciation charges represent a decline in the value of the related assets that will ultimately require replacement. The following table provides a reconciliation of Net income to Economic Earnings (in thousands): For the years ended December 31, 2019 2018 2017 Net Income $ 5,911 $ 26,751 $ 19,989 Add: Stock-based compensation expense 10,305 15,283 16,430 Add: Intangible amortization 1,726 1,672 1,872 Add: Tax benefit from goodwill amortization 237 237 626 Economic Earnings $ 18,179 $ 43,943 $ 38,917 Geographical information Refer to Note 9, “Revenue” for our revenue disaggregated by our clients' geographical location. As of December 31, (in thousands) 2019 2018 Property and equipment, net, by geographic area: U.S. $ 4,095 $ 4,381 Canada 57 73 Total Property and equipment, net $ 4,152 $ 4,454

Concentration

Concentration	12 Months Ended
	Dec. 31, 2019
Risks and Uncertainties [Abstract]
CONCENTRATION	CONCENTRATION: For each of the years ended December 31, 2019, 2018 and 2017, our ten largest clients accounted for approximately 20% of our fee revenue. No single customer accounted for 10% or more of our fee revenues in any of these years. The following table presents advisory fee revenue received from our single largest client in each year (in thousands): Years ended December 31, 2019 2018 2017 Advisory fees from our largest client: Asset-based fees $ 1,863 $ 1,868 $ 6,312 Performance-based fees 764 2,984 — Percent of fee revenue 3.2 % 4.0 % 4.8 %

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS: Dividends Declared On February 5, 2020, the Board of Directors declared a quarterly cash dividend of $0.43 per share on common stock payable on April 1, 2020 to stockholders of record on March 6, 2020. Share Repurchase Program On February 5, 2020, the Board of Directors authorized an additional $10.0 million of share repurchases under our share repurchase program. Restricted Stock Grants On February 21, 2020, we expect to issue approximately $6.7 million of restricted stock to employees, or approximately 242,000 shares based on the closing price of our stock on February 20, 2020. The shares are subject to vesting conditions described in Note 10 “Employee Benefits” of our Consolidated Financial Statements in this Report.

Quarterly Financial Data

Quarterly Financial Data	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL DATA (Unaudited)	QUARTERLY FINANCIAL DATA (Unaudited):The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2019 and 2018 (in thousands, except per share amounts): Quarter First Second Third Fourth 2019 Revenues $ 23,862 $ 21,709 $ 19,892 $ 18,616 Income before income taxes 1,496 2,656 1,559 3,691 Net income 392 1,861 1,117 2,541 Basic earnings per common share 0.05 0.22 0.13 0.30 Diluted earnings per common share 0.05 0.22 0.13 0.30 2018 Revenues $ 33,567 $ 32,760 $ 29,854 $ 26,119 Income before income taxes 10,487 10,936 7,151 7,888 Net income 7,978 7,992 5,368 5,413 Basic earnings per common share 0.96 0.95 0.64 0.65 Diluted earnings per common share 0.93 0.94 0.62 0.64

Leases, Codification Topic 842

Leases, Codification Topic 842	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Lessee, Operating Leases	LEASES: We have operating leases for corporate offices and certain office equipment. The lease terms of our corporate offices vary and have remaining lease terms ranging from one to seven years. The corporate office lease payments are fixed and are based upon contractual monthly rates. The majority of our corporate office leases do not include options to extend or terminate the leases. We lease office equipment for a period of two years. We analyzed our weighted average discount rate during the calculation of our lease liability and reviewed the corporate debt environment in 2019 to determine a collateralized discount rate of 5%. We have not entered into any new operating leases since the determination to use a 5% discount rate. In June 2019, we entered into a sublease agreement for a portion of our corporate office. The sublease agreement has a term of seven years, and the sublease income is included in "Other income" on our Consolidated Statements of Comprehensive Income. The following table presents the components of lease costs related to our leases (amounts in thousands): Years Ended December 31, 2019 2018 2017 Operating lease costs $ 1,796 $ 1,706 $ 1,583 Sublease income 144 — — The following table presents supplemental cash flow information related to our leases (amounts in thousands): Years Ended December 31, 2019 2018 2017 Operating cash flows from operating leases $ 2,095 $ 1,909 $ 1,860 Right-of-use assets obtained in exchange for lease obligations $ — $ 1,010 $ — Operating lease costs are included in "General and administrative" expense on our Consolidated Statements of Comprehensive Income. We lease our offices under non-cancelable operating lease agreements with expiration dates that run through 2026. The following table presents information regarding our operating leases (in thousands, except years and rates): December 31, 2019 2018 Operating lease right-of-use assets $ 7,562 $ 8,698 Operating lease liabilities $ 1,584 $ 1,432 Non-current lease liabilities 7,762 9,331 Total lease liabilities $ 9,346 $ 10,763 Weighted-average remaining lease term (in years) 5.7 6.6 Weighted-average discount rate 5.0 % 5.0 % The maturities of lease liabilities are as follows (in thousands): Year ending December 31, Operating Leases 2020 $ 2,117 2021 2,081 2022 1,717 2023 1,719 2024 1,550 Thereafter 1,853 Total undiscounted lease payments $ 11,037 Less: discount (1,691) Total lease liabilities $ 9,346

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Earnings Per Share, Policy [Policy Text Block]	Basic earnings per common share (“EPS”) is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding. Diluted EPS is computed based on the weighted average shares of common stock outstanding plus the effect of any dilutive shares of restricted stock granted to employees and non-employee directors. There were approximately 76,000, 7,300 and 6,614 anti-dilutive restricted shares as of December 31, 2019, 2018 and 2017, respectively. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share and share amounts): Years ended December 31, 2019 2018 2017 Net income $ 5,911 $ 26,751 $ 19,989 Weighted average shares outstanding – basic 8,408,017 8,365,360 8,147,742 Dilutive potential shares from unvested restricted shares 55,222 182,010 252,280 Weighted average shares outstanding – diluted 8,463,239 8,547,370 8,400,022 Earnings per share: Basic $ 0.70 $ 3.20 $ 2.45 Diluted $ 0.70 $ 3.13 $ 2.38
Principles of consolidation	Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of Westwood and its subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. In the current year, we created items on the Consolidated Statements of Comprehensive Income for unrealized gains on private investments, investment income and other income. Prior year financial statements were not reclassified to conform to this presentation as those amounts are insignificant. We assess each legal entity that we manage to determine whether consolidation is appropriate at the onset of the relationship. We first determine whether the entity is a variable interest entity (“VIE”), or a voting interest entity (“VOE”), under GAAP and whether we have a controlling financial interest in the entity. Assessing whether or not an entity is a VOE or VIE and if it requires consolidation involves judgment and analysis. Factors considered in this assessment include, but are not limited to, the legal organization of the entity, our equity ownership and contractual involvement with the entity and any related party or de facto agent implications of our involvement with the entity. We reconsider whether entities are a VIE or VOE whenever contractual arrangements change, the entity receives additional equity or returns equity to its investors or changes in facts and circumstances occur that change the investors’ abilities to direct the activities of the entity. A VIE is an entity in which (i) the total equity investment at risk is not sufficient to enable the entity to finance its activities without subordinated financial support, (ii) the at-risk equity holders, as a group, lack the characteristics of a controlling financial interest or (iii) the entity is structured with disproportionate voting rights, and substantially all of the activities are conducted on behalf of an investor with disproportionately few voting rights. That is, the at-risk equity holders do not have the obligation to absorb significant losses, the right to receive residual returns and the right to direct the activities of the entity that most significantly impact the entity’s economic performance. An enterprise must consolidate all VIEs of which it is the primary beneficiary. We determine if a sponsored investment meets the definition of a VIE by considering whether the fund’s equity investment at risk is sufficient to finance its activities without additional subordinated financial support and whether the fund’s at-risk equity holders absorb any losses, have the right to receive residual returns and have the right to direct the activities of the entity most responsible for the entity’s economic performance. The primary beneficiary of a VIE is defined as the party that, considering the involvement of related parties and de facto agents, has (i) the power to direct the activities of the VIE that most significantly affect its economic performance and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. This evaluation is updated on a continuing basis. A VOE is an entity that is outside the scope of the guidance for VIEs. Consolidation of a VOE is required when a reporting entity owns a controlling financial interest in a VOE. Ownership of a majority of the voting interests is the usual condition for a controlling financial interest. We evaluated (i) our relationship as sponsor of the Common Trust Funds (“CTFs”) and managing member of the private equity funds Westwood Hospitality Fund I, LLC and Westwood Technology Opportunities Fund I, LP (collectively the “Private Funds”), (ii) our advisory relationships with Westwood Investment Funds PLC (the “UCITS Fund”) and the Westwood Funds®, and (iii) our investments in InvestCloud and Charis discussed in Note 3 “Investments” (“Private Equity”) to determine whether each of these entities is a variable interest entity (“VIE”) or voting ownership entity (“VOE”). Based on our analyses, we determined that the CTFs and Private Funds were VIEs, as the at-risk equity holders do not have the ability to direct the activities that most significantly impact the entities' economic performance, and the Company and its representatives have a majority control of the entities' respective boards of directors and can influence the respective entities' management and affairs. Although we have related parties on the UCITS Fund board of directors, the shareholders have rights to remove the current directors by a simple majority vote and so we determined that the UCITS Fund is not a VIE. Based on our analyses, we determined the UCITS Fund, Westwood Funds®, and Private Equity (i) have sufficient equity at risk to finance the entities' activities independently, (ii) have the obligation to absorb losses, the right to receive residual returns and the right to direct the activities of the entities that most significantly impact the entities' economic performance and (iii) are not structured with disproportionate voting rights. Based on our analyses of our investments in these entities for the periods ending December 31, 2019 and 2018, we have not consolidated the CTFs or Private Funds under the VIE method or the UCITS Fund, Westwood Funds® or Private Equity under the VOE method, and therefore the financial results of these entities are not included in the Company’s consolidated financial results. We have included the disclosures related to VIEs and VOEs in Note 12 “Variable Interest Entities.”
Use of Estimates	Use of EstimatesThe preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of money market accounts and other short-term, highly liquid investments with maturities of three months or less, other than pooled investment vehicles that are considered investments. We maintain some cash and cash equivalents balances with financial institutions that are in excess of Federal Deposit Insurance Corporation insurance limits. The Company has not experienced losses on uninsured cash accounts.
Accounts Receivable	Accounts Receivable Accounts receivable represents balances arising from services provided to customers and are recorded on an accrual basis, net of any allowance for doubtful accounts. Accounts receivable are written off when they are determined to be uncollectible. Any allowance for doubtful accounts is estimated based on the Company’s historical amounts written off, existing conditions in the industry, and the financial stability of the customer. The majority of our accounts receivable balances consist of advisory and trust fees receivable from customers that we believe are, and have experienced to be, fully collectible. Accordingly, our Consolidated Financial Statements include neither an allowance for bad debt, nor bad debt expense.
Investments	Investments Investments measured at fair market value are classified as trading securities and are carried at quoted market values on the accompanying Consolidated Balance Sheets. Net unrealized holding gains or losses on investments classified as trading securities are reflected as a component of other revenues. We measure realized gains and losses on investments using the specific identification method.
Fair Value of Financial Instruments	Fair Value of Financial Instruments We determined the estimated fair values of our financial instruments using available information. The fair value amounts discussed in Notes 3 “Investments” and 4 “Fair Value of Financial Instruments” are not necessarily indicative of either the amounts realizable upon disposition of these instruments or of our intent or ability to dispose of these assets. The estimated fair value of cash and cash equivalents, accounts receivable, prepaid income taxes, other current assets, accounts payable and accrued liabilities, dividends payable, compensation and benefits payable and income taxes payable approximates their carrying value due to their short-term maturities. The carrying amount of investments designated as “trading” securities, primarily U.S. Government and Government agency obligations, money market funds, Westwood Funds® mutual funds, the UCITS Fund and Westwood Trust common trust fund shares, equals fair value based on prices quoted in active markets and, with respect to funds, the reported net asset value (“NAV”) of the shares held. Market values of our money market holdings generally do not fluctuate. Our investment in Westwood Hospitality Fund I, LLC is measured at fair value using NAV. Our investment in Charis Holdings, Inc. ("Charis"), the parent company of Westwood Private Bank, is measured at fair value on a recurring basis using a market approach based on a price to tangible book value multiple that is determined to be reasonable in the current environment, or market transactions. Management believes this valuation methodology is consistent with the banking industry and will reevaluate our methodology and inputs on a quarterly basis.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Goodwill is tested at least annually for impairment. We test more frequently if indicators are present or changes in circumstances suggest that impairment may exist. These indicators include declines in revenues, earnings or cash flows, or the development of a material adverse change in the business climate. We assess goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a component. We have identified two reporting units, which are consistent with our reporting segments: Advisory and Trust. The Company is not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that its fair value is less than the carrying amount. We assess goodwill for impairment using either a qualitative or quantitative assessment. The qualitative assessment includes consideration of the current trends in the industry in which we operate, macroeconomic conditions and recent financial performance of our reporting units. In performing the annual impairment test during the third quarter, or more frequently when impairment indicators exist, and after assessing the qualitative factors, we may be required to utilize the two-step approach prescribed by ASC 350, Goodwill and Other Intangible Assets. We may also elect to skip the qualitative assessment and proceed directly to the quantitative analysis. The quantitative analysis requires a comparison of each reporting unit’s carrying value to the fair value of the respective unit. If the carrying value exceeds the fair value, an impairment loss is measured by reducing the goodwill to the fair market value. The fair value of each reporting unit is estimated, entirely or predominantly, using a market multiple approach and an income approach. During the third quarter of 2019 we completed our annual goodwill impairment assessment and determined that no impairment loss was required. No impairments were recorded during any of the periods presented.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation of furniture and equipment is provided over the estimated useful lives of the assets (from 3 to 7 years), and depreciation on leasehold improvements is provided over the lesser of the estimated useful life or lease term using the straight-line method. We capitalize leasehold improvements, furniture and fixtures, computer hardware and most office equipment purchases.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Revenues are recognized when the performance obligation (the investment management and advisory or trust services provided to the client) defined by the investment advisory or sub-advisory agreement is satisfied. For each performance obligation, we determine at contract inception whether the revenue satisfies over time or at a point in time. We derive our revenues from investment advisory fees, trust fees and other sources of revenues. Advisory and Trust fees are calculated based on a percentage of AUM and the performance obligation is realized over the then-current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment. Incremental costs to obtain a contract are eligible to be capitalized if the costs are expected to be recovered over the service period. We incur certain incremental costs in obtaining new Trust business and continually evaluate whether costs should be capitalized and amortized over the expected period of benefit of the asset. Certain costs used to fulfill a contract such as the distribution services utilized to sell our Westwood Funds® are expensed as incurred. We recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less.
Stock Based Compensation	Stock-Based Compensation We have issued restricted stock to our U.S. employees and Board of Directors in accordance with our Sixth Amended and Restated Westwood Holdings Group, Inc. Stock Incentive Plan (the “Plan”). We account for stock-based compensation in accordance with ASC 718, Compensation-Stock Compensation and adopted Accounting Standards Update (“ASU”) 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting effective January 1, 2017. Under ASC 718, stock-based compensation expense reflects the fair value of stock-based awards measured at grant date and is recognized over the relevant service period. We expense the fair value of stock-based compensation awards granted to our employees and directors in our Consolidated Financial Statements on a straight-line basis over the period that services are required to be provided in exchange for the award (“requisite service period”), which is typically the period over which the award vests. Stock-based compensation is recognized only for awards that vest. We measure the fair value of compensation cost related to restricted stock awards based on the closing market price of our common stock on the grant date. For performance-based share awards, we assess actual performance versus the predetermined performance goals and record compensation expense once we conclude it is probable that we will meet the performance goals required to vest the applicable performance-based awards. The following summarizes the effects of the adoption of ASU 2016-09 on our Consolidated Financial Statements: Income Taxes - Upon adoption of this standard, all excess tax benefits and tax deficiencies, including tax benefits of dividends on stock-based payment awards, are recognized as income tax expense or benefit in the Consolidated Statement of Comprehensive Income. The tax effects of exercised or vested awards are treated as discrete items in the reporting period in which they occur. As a result, the Company recognized discrete adjustments to income tax expense of $1.0 million in 2017 related to excess tax benefits. Forfeitures - Prior to adoption, stock-based compensation expense was recognized on a straight-line basis, net of estimated forfeitures, such that expense was recognized for stock-based awards that were expected to vest. A forfeiture rate was estimated annually and revised, if necessary, in subsequent periods if actual forfeitures differed from initial estimates. Upon adoption of this standard, the Company no longer applies an estimated forfeiture rate and instead accounts for forfeitures as they occur. The Company applied the modified retrospective adoption approach, resulting in a $0.7 million cumulative-effect reduction to “Retained earnings” with the offset to “Additional paid-in-capital” on January 1, 2017. The Share Award Plan of Westwood Holdings Group, Inc. for Service Provided in Canada to its Subsidiaries (the “Canadian Plan”) provides compensation in the form of common stock for services performed by employees of Westwood International Advisors. We record compensation costs for these awards on a straight-line basis over the vesting period once we determine it is probable that the award will be earned. Awards expected to be settled in shares are funded into a trust pursuant to an established Canadian employee benefit plan. Generally, the Canadian trust subsequently acquires Westwood common shares in market transactions and holds such shares until the shares are vested and distributed, or forfeited. Shares held in the trust are shown on our Consolidated Balance Sheet as treasury shares. Until shares are acquired by the trust, we record compensation costs and measure the liability as a cash-based award, which is included in “Compensation and benefits payable” on our Consolidated Balance Sheets. For the years ended December 31, 2019, 2018 and 2017, the compensation expense recorded for these awards was $0.2 million, $0.1 million and $0.2 million, respectively. When the number of shares related to an award is determinable, the award becomes an equity award accounted for in a manner similar to restricted stock, which is described in Note 10 “Employee Benefits.”
Currency Translation	Currency Translation and Re-measurement Assets and liabilities of Westwood International Advisors, our non-U.S. dollar functional currency subsidiary, are translated at exchange rates as of applicable reporting dates. The gains and losses resulting from translating non-U.S. dollar functional currency into U.S. dollars are recorded through other comprehensive income.
Income Taxes	Income Taxes We file a U. S. federal income tax return as a consolidated group for Westwood and its subsidiaries based in the U. S. We file a Canadian income tax return for Westwood International Advisors. Deferred income tax assets and liabilities are determined based on temporary differences between the financial statements and income tax bases of assets and liabilities as measured at enacted income tax rates. Deferred income tax expense is generally the result of changes in deferred tax assets and liabilities. Deferred taxes relate primarily to incentive compensation and stock-based compensation expense. We record net deferred tax assets to the extent we believe such assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax- planning strategies, and results of recent operations. In the event we were to determine that we would not be able to realize our deferred income tax assets in the future, we would record a valuation allowance. No such valuation allowance has been recorded in our Consolidated Financial Statements. We account for uncertain tax positions by recognizing the impact of a tax position in our Consolidated Financial Statements when we believe it is more likely than not that the tax position would not be sustained upon examination by the appropriate tax authority based on the merits of the position. We include penalties and interest on income-based taxes, if any, in the “General and administrative” line on our Consolidated Statements of Comprehensive Income. See Note 7 “Income Taxes.” The Tax Reform Act that was signed into law in 2017 provides for a territorial tax system, beginning in 2018, it includes two new U.S. tax base erosion provisions, the global intangible low-taxed income (“GILTI”) provisions and the base-erosion and anti-abuse tax (“BEAT”) provisions. The GILTI provisions require the Company to include in its U.S. income tax return any foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. We had no U.S. tax liability on GILTI for the years ended December 31, 2019 and 2018. We have elected to account for GILTI tax expense in the period in which it is incurred, and therefore have not provided any deferred tax impacts of GILTI in our Consolidated Financial Statements for the years ended December 31, 2019 and 2018. The BEAT provisions in the Tax Reform Act eliminate the deduction of certain base-erosion payments made to related foreign corporations and impose a minimum tax if the recalculated taxable income under BEAT is greater than regular taxable income. We do not expect to be subject to this tax and therefore have not included any tax impacts of BEAT in our Consolidated Financial Statements for the years ended December 31, 2019 and 2018.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases . ASU 2016-02 requires lessees to recognize a lease liability and a right-of-use asset for all leases at the commencement date, excluding short-term leases. Leases will be classified as either financing or operating, with classification impacting the pattern of expense recognition in the income statement. The amendment was effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We adopted the standard as of January 1, 2019 under the modified retrospective approach, which provides a method for recording existing leases at adoption and in comparative periods that approximates the results of a full retrospective approach. We elected the package of practical expedients permitted under the transition guidance, which, among other things, allows us to carry forward the historical lease classification and elect hindsight to determine certain lease terms for existing leases. See further discussion in Note 13 “Leases.” The following tables summarize the impacts of the adoption of ASU 2016-02 to our previously reported results (both in thousands): Balance Sheet as of December 31, 2018: As Previously Reported New Lease Standard Adjustment Recast Operating lease right-of-use assets $ — $ 8,698 $ 8,698 Operating lease liabilities — 1,432 1,432 Noncurrent operating lease liabilities — 9,331 9,331 Deferred rent 2,065 (2,065) — For the year ended December 31, 2018 For the year ended December 31, 2017 Statements of Cash Flows: As Previously Reported New Lease Standard Adjustment Recast As Previously Reported New Lease Standard Adjustment Recast Non-cash lease expense $ — $ 1,062 $ 1,062 $ — $ 1,042 $ 1,042 Other liabilities (155) (1,062) (1,217) (165) (1,042) (1,207) In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting . The purpose of this amendment is to simplify the accounting for stock-based payments granted to nonemployees for goods and services by aligning it with the accounting used for arrangements with employees. We adopted the standard as of January 1, 2019 and it did not have a material impact on our Consolidated Financial Statements. Not Yet Adopted In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurement . The purpose of this amendment is to modify, remove and add certain disclosure requirements for fair value measurements. Under ASU 2018-13, entities are required to disclose the amount of total gains or losses recognized in other comprehensive income attributable to assets and liabilities categorized within Level 3 of the fair value hierarchy. The ASU also adds an incremental requirement about significant unobservable inputs for Level 3 fair value measurements. The requirement to disclose reasons for transfers between Level 1 and Level 2 was removed. Various requirements for Level 3 disclosure were also modified. The amendments in this ASU are effective for all entities for fiscal years and interim periods beginning after December 15, 2019. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt this amendment within the required time frame. In August 2018, the FASB issued ASU 2018-15, Intangibles- Goodwill and Other - Internal-Use Software (Topic 350): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The purpose of this amendment is to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The amendments in this update are effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt the standard within the required time frame. In May 2019, the FASB issued ASU 2019-05, Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief. The purpose of this amendment is to amend ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , to allow companies to irrevocably elect, upon adoption of ASU 2016-13, the fair value option on financial instruments that were previously recorded at amortized cost and are within the scope of ASC 326-20, Financial Instruments-Credit Losses: Amortization Cost , if the instruments are eligible for the fair value option under Accounting Standards Codification 825 - Financial Instruments. The fair value option election does not apply to held-to-maturity debt securities. The amendments in this update are effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt the standard within the required time frame.

Revenue (Policies)

Revenue (Policies)	12 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Revenues are recognized when the performance obligation (the investment management and advisory or trust services provided to the client) defined by the investment advisory or sub-advisory agreement is satisfied. For each performance obligation, we determine at contract inception whether the revenue satisfies over time or at a point in time. We derive our revenues from investment advisory fees, trust fees and other sources of revenues. Advisory and Trust fees are calculated based on a percentage of AUM and the performance obligation is realized over the then-current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment. Incremental costs to obtain a contract are eligible to be capitalized if the costs are expected to be recovered over the service period. We incur certain incremental costs in obtaining new Trust business and continually evaluate whether costs should be capitalized and amortized over the expected period of benefit of the asset. Certain costs used to fulfill a contract such as the distribution services utilized to sell our Westwood Funds® are expensed as incurred. We recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less.

Earnings Per Share (Policies)

Earnings Per Share (Policies)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share, Policy [Policy Text Block]	Basic earnings per common share (“EPS”) is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding. Diluted EPS is computed based on the weighted average shares of common stock outstanding plus the effect of any dilutive shares of restricted stock granted to employees and non-employee directors. There were approximately 76,000, 7,300 and 6,614 anti-dilutive restricted shares as of December 31, 2019, 2018 and 2017, respectively. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share and share amounts): Years ended December 31, 2019 2018 2017 Net income $ 5,911 $ 26,751 $ 19,989 Weighted average shares outstanding – basic 8,408,017 8,365,360 8,147,742 Dilutive potential shares from unvested restricted shares 55,222 182,010 252,280 Weighted average shares outstanding – diluted 8,463,239 8,547,370 8,400,022 Earnings per share: Basic $ 0.70 $ 3.20 $ 2.45 Diluted $ 0.70 $ 3.13 $ 2.38

Description of the Business Div

Description of the Business Divestiture of Omaha Operations (Tables)	12 Months Ended
	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Divestiture of our Omaha Operations On September 6, 2017, we entered into an agreement to sell the Omaha-based component of our Wealth Management business. The sale closed on January 12, 2018. We received proceeds of $10.0 million, net of working capital requirements, and recorded a $0.5 million gain on the sale, which is included as “Gain on sale of operations” on our Consolidated Statement of Comprehensive Income. The sale reduced our goodwill and intangible assets, but did not have a material impact on our Consolidated Balance Sheets. The following table presents cash proceeds received and net assets sold (in thousands): Cash Proceeds $ 10,013 Net assets sold: Accounts receivable 99 Other current assets 112 Goodwill 7,340 Intangible assets, net 2,170 Property and equipment, net 18 Accounts payable and accrued liabilities (241) Other liabilities (9) Gain on sale of operations $ 524 The component was reported within both our Advisory and Trust segments. The sale did not represent a major strategic shift in our business and did not qualify for discontinued operations reporting.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investment Balances	All other investments are carried at fair value on a recurring basis and are accounted for as trading securities. Investments carried at fair value are presented in the table below (in thousands): Cost Gross Unrealized Gains Gross Unrealized Losses Estimated December 31, 2019: U.S. Government and Government agency obligations $ 39,074 $ 174 $ — $ 39,248 Money market funds 4,592 — — 4,592 Equity funds 6,399 85 6,484 Total trading securities $ 50,065 $ 259 $ — $ 50,324 Private investment fund 250 13 — 263 Private equity 3,420 555 — 3,975 Total investments carried at fair value $ 53,735 $ 827 $ — $ 54,562 December 31, 2018: U.S. Government and Government agency obligations $ 48,177 $ 232 $ — $ 48,409 Money market funds 10,354 — — 10,354 Equity funds 7,344 — (326) 7,018 Total trading securities $ 65,875 $ 232 $ (326) $ 65,781
Other Revenue	The following amounts, except for income tax amounts, are included in our Consolidated Statements of Comprehensive Income under the headings “Other revenues, net," "Unrealized gains on private investments," or "Investment Income" for 2019. For 2018 and 2017 the following amounts are included under the heading "Other revenues, net" (in thousands): 2019 2018 2017 Realized gains $ 707 $ 920 $ 395 Realized losses (122) (121) (96) Net realized gains (losses) $ 585 $ 799 $ 299 Income tax expense from gains (losses) $ 123 $ 168 $ 105 Interest income – trading $ 894 $ 620 $ 334 Dividend income $ 283 $ 290 $ 302 Unrealized gains/(losses) $ 3,650 $ (737) $ 617

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Values of Assets Within Fair Value Hierarchy	The following table summarizes the values of our assets and liabilities as of the dates indicated within the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Measured at NAV (1) Total As of December 31, 2019 Investments in trading securities $ 50,324 $ — $ — $ — $ 50,324 Private investment fund — — — 263 263 Private equity — — 3,975 — 3,975 Total assets measured at fair value $ 50,324 $ — $ 3,975 $ 263 $ 54,562 As of December 31, 2018 Investments in trading securities $ 65,781 $ — $ — $ — $ 65,781 Total assets measured at fair value $ 65,781 $ — $ — $ — $ 65,781 (1) Comprised of certain investments measured at fair value using NAV as a practical expedient. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on our Consolidated Balance Sheets.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table summarizes the changes in Level 3 investments measured at fair value on a recurring basis for the periods presented (in thousands): Years ended December 31, 2019 2018 Beginning balance $ — $ — Purchases 3,420 — Unrealized gains 555 — Ending balance $ 3,975 $ —

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Goodwill	Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Changes in goodwill were as follows (in thousands): As of December 31, 2019 2018 Beginning balance $ 19,804 $ 27,144 Omaha divestiture — (7,340) Ending balance $ 19,804 $ 19,804
Summary of Intangible Assets	The following is a summary of intangible assets at December 31, 2019 and 2018 (in thousands, except years): Weighted Average Amortization Period (years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount 2019 Client relationships 14.8 $ 21,431 $ (7,416) $ 14,015 Internally developed software 5.8 1,439 (233) 1,206 Trade names 4.9 708 (673) 35 $ 23,578 $ (8,322) $ 15,256 2018 Client relationships 14.8 $ 21,431 $ (5,960) $ 15,471 Internally developed software 7.0 418 (99) 319 Trade names 4.9 708 (537) 171 $ 22,557 $ (6,596) $ 15,961
Goodwill impairment loss	$ 0	$ 0	$ 0
Amortization expense	$ 1,726,000	$ 1,672,000	$ 1,872,000
Estimated Amortization Expense for Intangible Assets over the Next Five Years	Estimated amortization expense for intangible assets over the next five years is as follows (in thousands): For the year ending December 31, Estimated Amortization Expense 2020 $ 1,658 2021 $ 1,548 2022 $ 1,548 2023 $ 1,529 2024 $ 1,454

Balance Sheet Components (Table

Balance Sheet Components (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Property and Equipment	The following table reflects information about our property and equipment as of December 31, 2019 and 2018 (in thousands): As of December 31, 2019 2018 Leasehold improvements $ 5,517 $ 4,714 Furniture and fixtures 2,906 2,716 Computer hardware and office equipment 3,118 2,996 Construction in progress 6 490 Accumulated depreciation (7,395) (6,462) Property and equipment, net $ 4,152 $ 4,454

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income (Loss) Before Income Taxes by Jurisdiction	Income before income taxes by jurisdiction was as follows (in thousands): Years ended December 31, 2019 2018 2017 U.S. $ 10,237 $ 21,250 $ 17,531 Canada (835) 15,212 16,362 Total $ 9,402 $ 36,462 $ 33,893
Difference between the Federal Corporate Tax Rate and the Effective Tax Rate	The difference between the Federal corporate tax rate and the effective tax rate is comprised of the following (in thousands). In 2019, we recast certain 2018 and 2017 income tax expense components related to stock-based compensation. Years ended December 31, 2019 2018 2017 Income tax provision computed at US federal statutory rate $ 1,974 21.0 % $ 7,657 21.0 % $ 11,859 35.0 % Canadian rate differential (26) (0.3) 895 2.4 (1,398) (4.1) State and local income taxes, net of federal income taxes 512 5.4 916 2.5 626 1.9 Global Intangible Low Taxed Income, net deductions — — 1,573 4.3 — — U.S. Tax Credits — — (1,528) (4.2) — — Stock-based compensation 594 6.3 (450) (1.2) (946) (2.8) Change in ASC 740-10 positions (net) (1) — 19 0.1 (3) — Rate changes 30 0.3 (10) — 1,578 4.6 Tax on repatriation — — 118 0.3 1,767 5.2 Other, net 408 4.4 521 1.4 421 1.2 Total income tax expense $ 3,491 37.1 % $ 9,711 26.6 % $ 13,904 41.0 % Effective income tax rate 37.1 % 26.6 % 41.0 %
Income Tax Provision (Benefit) as Set Forth in the Consolidated Statements of Income	Income tax provi sion (benefit) as set forth in the Consolidated Statements of Comprehensive Income consisted of the following components (in thousands): Years ended December 31, 2019 2018 2017 Current taxes: U.S. Federal $ 424 $ 5,949 $ 1,122 State and local 350 1,477 662 Foreign (189) 4,034 4,578 Total current taxes 585 11,460 6,362 Deferred taxes: U.S. Federal 2,619 (1,853) 7,569 State and local 222 (169) 22 Foreign 65 273 (49) Total deferred taxes 2,906 (1,749) 7,542 Total income tax expense $ 3,491 $ 9,711 $ 13,904
Deferred Tax Assets and Deferred Tax Liabilities	The tax effects of temporary differences that give rise to the deferred tax assets and deferred tax liabilities are presented below (in thousands). We recast December 31, 2018 deferred tax balances related to deferred rent and leases following our adoption of ASU 2016-02, Leases , in 2019. As of December 31, 2019 2018 Deferred tax assets: Stock-based compensation expense $ 2,222 $ 3,137 Deferred rent 2,172 2,369 Compensation and benefits payable 1,938 2,606 Federal unrecognized tax benefit 38 51 Other (23) 4 Total deferred tax assets 6,347 8,167 Deferred tax liabilities: Property and equipment (359) (620) Intangibles (911) (448) Unrealized gains on investments (833) (17) Leases (2,028) (1,980) Total deferred tax liabilities (4,131) (3,065) Net deferred tax assets $ 2,216 $ 5,102
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the change in recorded uncertain tax positions during the years ended December 31, 2019 and 2018 is as follows (in thousands): Balance at December 31, 2017 $ 160 Additions for tax positions related to the current year 28 Reductions for tax positions related to prior years (4) Balance at December 31, 2018 184 Additions for tax positions related to the current year 2 Reductions for tax positions related to prior years (2) Balance at December 31, 2019 $ 184

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	Sales taxes are excluded from revenues. The following table presents our revenue disaggregated by account type (in thousands): Year Ended December 31, 2019 2018 2017 Advisory Fees: Institutional $ 37,289 $ 59,345 $ 69,029 Mutual Funds 19,288 29,792 30,172 Wealth Management 456 230 — Performance-based 764 2,984 1,411 Trust Fees 25,483 28,953 31,621 Other 799 996 1,552 Total revenues $ 84,079 $ 122,300 $ 133,785
Revenue Disaggregation by Geographic Location [Table Text Block]	We have clients in various locations around the world. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands): Year Ended December 31, 2019 Advisory Trust Performance-based Other Total Asia $ 1,639 $ — $ — $ — $ 1,639 Australia 591 — — — 591 Canada 2,740 — — 282 3,022 Europe 3,703 — 764 — 4,467 U.S. 48,360 25,483 — 517 74,360 Total $ 57,033 $ 25,483 $ 764 $ 799 $ 84,079 Year Ended December 31, 2018 Advisory Trust Performance-based Other Total Asia $ 4,305 $ — $ — $ — $ 4,305 Australia 3,783 — — — 3,783 Canada 6,605 — — 163 6,768 Europe 4,860 — — — 4,860 U.S. 69,814 28,953 2,984 833 102,584 Total $ 89,367 $ 28,953 $ 2,984 $ 996 $ 122,300 Year Ended December 31, 2017 Advisory Trust Performance-based Other Total Asia $ 6,312 $ — $ — $ — $ 6,312 Australia 3,334 — — — 3,334 Canada 8,737 — — 432 9,169 Europe 3,873 — — — 3,873 U.S. 76,945 31,621 1,411 1,120 111,097 Total $ 99,201 $ 31,621 $ 1,411 $ 1,552 $ 133,785

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Expense Recorded for Stock Based Compensation	The following table presents the total stock-based compensation expense recorded and the total income tax benefit recognized for stock-based compensation arrangements for the years indicated (in thousands): For the years ended December 31, 2019 2018 2017 Service condition restricted stock expense $ 7,240 $ 9,941 $ 10,334 Performance-based restricted stock expense 2,388 4,760 5,387 Restricted stock expense under the Plan 9,628 14,701 15,721 Canadian Plan restricted stock expense 677 582 709 Total stock-based compensation expense $ 10,305 $ 15,283 $ 16,430 Total income tax benefit recognized related to stock-based compensation $ 1,932 $ 3,592 $ 6,168
Profit Sharing and 401(k) Contributions for the Periods	The following table displays our profit-sharing and retirement plan contributions for the periods presented (in thousands): Years ended December 31, 2019 2018 2017 Profit-sharing contributions $ 31 $ 926 $ 1,613 Retirement plan matching contributions 1,597 1,604 1,602
Restricted Stock Subject Only to a Service Condition
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Status and Changes in Restricted Stock Grants that Subject to Service Condition	The following table details the status and changes in our restricted stock grants that are subject only to a service condition for the year ended December 31, 2019: Number of Shares Weighted Average Grant Date Fair Value Non-vested, January 1, 2019 440,073 $ 56.40 Granted 198,295 38.64 Vested (162,287) 57.14 Forfeited (79,483) 50.92 Non-vested, December 31, 2019 396,598 $ 48.31
Weighted-Average Grant Date Fair Value for Shares Granted and the Total Fair Value of Shares Vested	The following table shows the weighted-average grant date fair value for shares granted and the total fair value of shares vested during the years indicated: Years ended December 31, 2019 2018 2017 Weighted-average grant date fair value $ 38.64 $ 55.92 $ 61.20 Fair value of shares vested (in thousands) $ 9,273 $ 11,189 $ 10,764
Restricted Shares Subject to Service and Performance Conditions
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Status and Changes in Restricted Stock Grants that Subject to Service Condition	The following table details the status and changes in our restricted stock grants subject to service and performance conditions for the year ended December 31, 2019: Number of Shares Weighted Average Grant Date Fair Value Non-vested, January 1, 2019 156,293 $ 55.66 Granted 24,670 37.90 Vested (80,493) 56.09 Forfeited (19,495) 55.18 Non-vested, December 31, 2019 80,975 $ 49.73
Weighted-Average Grant Date Fair Value for Shares Granted and the Total Fair Value of Shares Vested	The following table shows the weighted-average grant date fair value for shares granted and the total fair value of shares vested during the years indicated: Years ended December 31, 2019 2018 2017 Weighted-average grant date fair value $ 37.90 $ 51.85 $ 54.86 Fair value of shares vested (in thousands) $ 4,515 $ 5,485 $ 5,792

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Shares	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share and share amounts): Years ended December 31, 2019 2018 2017 Net income $ 5,911 $ 26,751 $ 19,989 Weighted average shares outstanding – basic 8,408,017 8,365,360 8,147,742 Dilutive potential shares from unvested restricted shares 55,222 182,010 252,280 Weighted average shares outstanding – diluted 8,463,239 8,547,370 8,400,022 Earnings per share: Basic $ 0.70 $ 3.20 $ 2.45 Diluted $ 0.70 $ 3.13 $ 2.38

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2019
Variable Interest Entities [Abstract]
Variable Interest Entities	The following table displays the AUM, the amount of our seed investments that are included in “Investments” and “Investments, at fair value” on the Consolidated Balance Sheets, and the financial risk of loss in each vehicle (in millions): As of December 31, 2019 Assets Under Management Corporate Investment Amount at Risk VIEs/VOEs: Westwood Funds® $ 2,058 $ 6 $ 6 Common Trust Funds 1,409 $ — $ — UCITS Fund 319 $ — $ — Private Funds 13 $ 0.3 $ 0.3 Private Equity — $ 12 $ 12 All other assets: Wealth Management 3,016 Institutional 8,420 Total AUM $ 15,235

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Unrecorded Unconditional Purchase Obligations Disclosure	The following table summarizes our contractual obligations as of December 31, 2019 (in thousands): Payments due in: Total Less than 1 year 1-3 years 4-5 years Thereafter Purchase obligations $ 11,018 $ 4,385 $ 4,394 $ 1,715 $ 524

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Intersegment Balances	(in thousands) Advisory Trust Westwood Holdings Eliminations Consolidated Year Ended December 31, 2019 Revenues: Net fee revenues from external sources $ 57,797 $ 25,483 $ — $ — $ 83,280 Net intersegment revenues 3,457 236 — (3,693) — Net interest and dividend revenue 103 — — — 103 Other revenue 696 — — — 696 Total revenues 62,053 25,719 — (3,693) 84,079 Expenses: Depreciation and amortization 311 1,765 548 — 2,624 Other operating expenses 46,235 19,672 14,597 (3,693) 76,811 Total expenses 46,546 21,437 15,145 (3,693) 79,435 Unrealized gains on private investments 1,438 1,026 832 — 3,296 Investment income 1,017 298 3 — 1,318 Other income — — 144 — 144 Income (loss) before income taxes 17,962 5,606 (14,166) — 9,402 Income tax expense (benefit) 4,308 1,459 (2,276) — 3,491 Net income (loss) $ 13,654 $ 4,147 $ (11,890) $ — $ 5,911 Add: Stock-based compensation expense $ 5,362 $ 1,587 $ 3,356 $ — $ 10,305 Intangible amortization 170 1,516 40 — 1,726 Deferred taxes on goodwill — 237 — — 237 Economic Earnings (Loss) $ 19,186 $ 7,487 $ (8,494) $ — $ 18,179 Segment assets $ 242,854 $ 51,274 $ 24,732 $ (140,153) $ 178,707 Segment goodwill $ 3,403 $ 16,401 $ — $ — $ 19,804 Expenditures for long-lived assets $ 288 $ 223 $ 82 $ — $ 593 Year Ended December 31, 2018 Revenues: Net fee revenues from external sources $ 92,351 $ 28,953 $ — $ — $ 121,304 Net intersegment revenues 6,973 238 — (7,211) — Net interest and dividend revenue 708 202 — — 910 Other revenue 53 33 — — 86 Total revenues 100,085 29,426 — (7,211) 122,300 Expenses: Depreciation and amortization 276 1,764 499 — 2,539 Other operating expenses 48,970 25,467 16,597 (7,211) 83,823 Total expenses 49,246 27,231 17,096 (7,211) 86,362 Gain (loss) on sale of operations (1) (16) 541 — 524 (in thousands) Advisory Trust Westwood Holdings Eliminations Consolidated Income (loss) before income taxes 50,838 2,179 (16,555) — 36,462 Income tax expense (benefit) 12,032 572 (2,893) — 9,711 Net income $ 38,806 $ 1,607 $ (13,662) $ — $ 26,751 Add: Stock-based compensation expense $ 8,673 $ 2,356 $ 4,254 $ — $ 15,283 Intangible amortization 95 1,537 40 — 1,672 Deferred taxes on goodwill — 237 — — 237 Economic Earnings (Loss) $ 47,574 $ 5,737 $ (9,368) $ — $ 43,943 Segment assets $ 230,565 $ 64,196 $ 19,240 $ (114,818) $ 199,183 Segment goodwill 3,403 16,401 — — 19,804 Expenditures for long-lived assets $ 314 $ 295 $ 382 $ — $ 991 Year Ended December 31, 2017 Revenues: Net fee revenues from external sources $ 100,612 $ 31,621 $ — $ — $ 132,233 Net intersegment revenues 8,120 218 — (8,338) — Net interest and dividend revenue 546 90 — — 636 Other revenue 911 5 — — 916 Total revenues 110,189 31,934 — (8,338) 133,785 Expenses: Depreciation and amortization 548 1,900 468 — 2,916 Other operating expenses 58,950 28,580 17,784 (8,338) 96,976 Total expenses 59,498 30,480 18,252 (8,338) 99,892 Income (loss) before income taxes 50,691 1,454 (18,252) — 33,893 Income tax expense (benefit) 17,120 (47) (3,169) — 13,904 Net income (loss) $ 33,571 $ 1,501 $ (15,083) $ — $ 19,989 Add: Stock-based compensation expense $ 9,140 $ 2,641 $ 4,649 $ — $ 16,430 Intangible amortization 138 1,734 — — 1,872 Deferred taxes on goodwill 38 588 — — 626 Economic Earnings (Loss) $ 42,887 $ 6,464 $ (10,434) $ — $ 38,917 Segment assets $ 207,792 $ 69,174 $ 18,437 $ (102,744) $ 192,659 Segment goodwill $ 5,219 $ 21,925 $ — $ — $ 27,144 Expenditures for long-lived assets $ 151 $ 530 $ 203 $ — $ 884
Schedule of Economic Earnings	The following table provides a reconciliation of Net income to Economic Earnings (in thousands): For the years ended December 31, 2019 2018 2017 Net Income $ 5,911 $ 26,751 $ 19,989 Add: Stock-based compensation expense 10,305 15,283 16,430 Add: Intangible amortization 1,726 1,672 1,872 Add: Tax benefit from goodwill amortization 237 237 626 Economic Earnings $ 18,179 $ 43,943 $ 38,917
Property and Equipment, Net by Geographic Area	As of December 31, (in thousands) 2019 2018 Property and equipment, net, by geographic area: U.S. $ 4,095 $ 4,381 Canada 57 73 Total Property and equipment, net $ 4,152 $ 4,454

Concentration (Tables)

Concentration (Tables)	12 Months Ended
	Dec. 31, 2019
Risks and Uncertainties [Abstract]
Concentration	Years ended December 31, 2019 2018 2017 Advisory fees from our largest client: Asset-based fees $ 1,863 $ 1,868 $ 6,312 Performance-based fees 764 2,984 — Percent of fee revenue 3.2 % 4.0 % 4.8 %

Quarterly Financial Data (Table

Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Results of Operations	The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2019 and 2018 (in thousands, except per share amounts): Quarter First Second Third Fourth 2019 Revenues $ 23,862 $ 21,709 $ 19,892 $ 18,616 Income before income taxes 1,496 2,656 1,559 3,691 Net income 392 1,861 1,117 2,541 Basic earnings per common share 0.05 0.22 0.13 0.30 Diluted earnings per common share 0.05 0.22 0.13 0.30 2018 Revenues $ 33,567 $ 32,760 $ 29,854 $ 26,119 Income before income taxes 10,487 10,936 7,151 7,888 Net income 7,978 7,992 5,368 5,413 Basic earnings per common share 0.96 0.95 0.64 0.65 Diluted earnings per common share 0.93 0.94 0.62 0.64

Leases, Codification Topic 842

Leases, Codification Topic 842 (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	The maturities of lease liabilities are as follows (in thousands): Year ending December 31, Operating Leases 2020 $ 2,117 2021 2,081 2022 1,717 2023 1,719 2024 1,550 Thereafter 1,853 Total undiscounted lease payments $ 11,037 Less: discount (1,691) Total lease liabilities $ 9,346
Lease, Cost	The following table presents the components of lease costs related to our leases (amounts in thousands): Years Ended December 31, 2019 2018 2017 Operating lease costs $ 1,796 $ 1,706 $ 1,583 Sublease income 144 — — The following table presents supplemental cash flow information related to our leases (amounts in thousands): Years Ended December 31, 2019 2018 2017 Operating cash flows from operating leases $ 2,095 $ 1,909 $ 1,860 Right-of-use assets obtained in exchange for lease obligations $ — $ 1,010 $ —
Lessee, Operating Lease, Disclosure	The following table presents information regarding our operating leases (in thousands, except years and rates): December 31, 2019 2018 Operating lease right-of-use assets $ 7,562 $ 8,698 Operating lease liabilities $ 1,584 $ 1,432 Non-current lease liabilities 7,762 9,331 Total lease liabilities $ 9,346 $ 10,763 Weighted-average remaining lease term (in years) 5.7 6.6 Weighted-average discount rate 5.0 % 5.0 %

Description of the Business (De

Description of the Business (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Proceeds from Divestiture of Businesses	$ 0	$ 10,013,000	$ 0
Date of incorporation	Dec. 12, 2001
Accounts receivable	$ 13,177,000	18,429,000
Other current assets	2,544,000	2,731,000
Goodwill	19,804,000	19,804,000	27,144,000
Intangible assets, net	15,256,000	15,961,000
Property and equipment, net of accumulated depreciation of $7,395 and $6,462	4,152,000	4,454,000
Accounts Payable and Accrued Liabilities, Current	(2,145,000)	(2,518,000)
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	0	$ 524,000	$ 0
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Business Acquisition [Line Items]
Proceeds from Divestiture of Businesses	10,013,000
Accounts receivable	99,000
Other current assets	112,000
Goodwill	7,340,000
Intangible assets, net	2,170,000
Property and equipment, net of accumulated depreciation of $7,395 and $6,462	18,000
Accounts Payable and Accrued Liabilities, Current	(241,000)
Other Liabilities, Noncurrent	(9,000)
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	$ 524,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2019USD ($)reporting_units	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Schedule Of Significant Accounting Policies [Line Items]
Provision for income taxes	$ 3,491,000	$ 9,711,000	$ 13,904,000
Foreign Currency Transaction Gain (Loss), before Tax	$ (1,854,000)	(2,791,000)	(1,595,000)
Number of reporting units | reporting_units	2
Goodwill impairment loss	$ 0	0	0
Valuation allowance	0
Uncertain tax position	184,000	184,000	$ 160,000
Unrecognized tax benefits	$ 38,000	$ 51,000
Effective Income Tax Rate Reconciliation, Percent	37.10%	26.60%	41.00%
Furniture and fixtures | Minimum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	3 years
Furniture and fixtures | Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	7 years
Leasehold improvements
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	lesser of the estimated useful life or lease term
Westwood International Advisors Inc | Canadian Plan
Schedule Of Significant Accounting Policies [Line Items]
Compensation expense recorded	$ 200,000	$ 100,000	$ 200,000
Retained Earnings
Schedule Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification		(700,000)
Adoption of ASU 2016-09 [Member]
Schedule Of Significant Accounting Policies [Line Items]
Provision for income taxes		$ 1,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies New Accounting Pronouncements or Change in Accounting Principle (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for income taxes	$ 3,491,000	$ 9,711,000	$ 13,904,000
Effective Income Tax Rate Reconciliation, Percent	37.10%	26.60%	41.00%
Operating Lease, Right-of-Use Asset	$ 7,562,000	$ 8,698,000
Operating Lease, Payments	2,095,000	1,909,000	$ 1,860,000
Operating Lease, Liability, Noncurrent	7,762,000	9,331,000
Operating Lease, Liability, Current	$ 1,584,000	1,432,000
Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset		0
Operating Lease, Payments		0	0
Payments for Other Fees		(155,000)	(165,000)
Operating Lease, Liability, Noncurrent		0
Noncurrent operating lease liabilities		2,065,000
Operating Lease, Liability, Current		0
Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset		8,698,000
Operating Lease, Payments		1,062,000	1,042,000
Operating Lease, Liability, Noncurrent		9,331,000
Noncurrent operating lease liabilities		(2,065,000)
Operating Lease, Liability, Current		1,432,000
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset		8,698,000
Operating Lease, Payments		1,062,000	1,042,000
Payments for Other Fees		(1,217,000)	(1,207,000)
Operating Lease, Liability, Noncurrent		9,331,000
Noncurrent operating lease liabilities		0
Operating Lease, Liability, Current		1,432,000
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Payments for Other Fees		$ (1,062,000)	$ (1,042,000)

Investments (Trading Securities

Investments (Trading Securities FV) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Investment balances
Cost	$ 50,065	$ 65,875
Gross Unrealized Gains	259	232
Gross Unrealized Losses	0	(326)
Investments in trading securities	50,324	65,781
Trading Securities, Unrealized Holding Gain	259	232
Trading Securities, Unrealized Holding Loss	0	326
Trading Securities, Cost	50,065	65,875
Investment Owned, at Cost	53,735
Investments in trading securities	50,324	65,781
Unrealized Gain on Securities	827
Investment Owned, at Fair Value	54,562
Unrealized Gain (Loss) on Investments	3,296
U.S. Government and Government agency obligations
Investment balances
Cost	39,074	48,177
Gross Unrealized Gains	174	232
Gross Unrealized Losses	0	0
Investments in trading securities	39,248	48,409
Trading Securities, Unrealized Holding Gain	174	232
Trading Securities, Unrealized Holding Loss	0	0
Trading Securities, Cost	39,074	48,177
Investments in trading securities	39,248	48,409
Money market funds
Investment balances
Cost	4,592	10,354
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Investments in trading securities	4,592	10,354
Trading Securities, Unrealized Holding Gain	0	0
Trading Securities, Unrealized Holding Loss	0	0
Trading Securities, Cost	4,592	10,354
Investments in trading securities	4,592	10,354
Equity funds
Investment balances
Cost	6,399	7,344
Gross Unrealized Gains	85	0
Gross Unrealized Losses		(326)
Investments in trading securities	6,484	7,018
Trading Securities, Unrealized Holding Gain	85	0
Trading Securities, Unrealized Holding Loss		326
Trading Securities, Cost	6,399	7,344
Investments in trading securities	6,484	$ 7,018
Private investment fund
Investment balances
Investment Owned, at Cost	250
Unrealized Gain on Securities	13
Investment Owned, at Fair Value	263
Private equity
Investment balances
Investment Owned, at Cost	3,420
Unrealized Gain on Securities	555
Investment Owned, at Fair Value	$ 3,975

Investments (Other Revenue) (De

Investments (Other Revenue) (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Realized gains	$ 707	$ 920	$ 395
Realized losses	(122)	(121)	(96)
Net realized gains (losses)	585	799	299
Income tax expense from gains (losses)	123	168	105
Interest income – trading	894	620	334
Dividend income	283	290	302
Unrealized gains/(losses)	$ 3,650	$ (737)	$ 617

Investments (Details Textual)

Investments (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	May 31, 2018
Schedule Of Investments [Line Items]
Corporate Investment	$ 50,324	$ 65,781
Unrealized Gain (Loss) on Investments	3,296
Long-term Investments	8,154	$ 5,425
Unrealized Gain on Securities	827
Long Term Investments, Cost, in a private company.			$ 5,400
Long Term Investment, at Cost, in a private investment fund	300
Long Term Investment, at Cost, in Private Equity	3,400
Unrealized gain on private equity investment	600
UCITS Fund
Schedule Of Investments [Line Items]
Corporate Investment	$ 0

Investments Private Equity Inve

Investments Private Equity Investment (Details 2) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Investments, All Other Investments [Abstract]
Long-term Investments	$ 8,154	$ 5,425

Investments (Details)

Investments (Details) $ in Thousands	Dec. 31, 2019USD ($)
Investments, Debt and Equity Securities [Abstract]
Investment Owned, at Cost	$ 53,735

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Levels) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments in securities:
Investments in trading securities	$ 50,324	$ 65,781
Total assets measured at fair value	54,562	65,781
Long Term Investment, at Cost, in Private Equity	3,400
Long Term Investment, at Cost, in a private investment fund	300
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	3,975	0	$ 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	3,420	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	555	0
Level 1
Investments in securities:
Investments in trading securities	50,324	65,781
Total assets measured at fair value	50,324	65,781
Level 2
Investments in securities:
Investments in trading securities	0	0
Total assets measured at fair value	0	0
Level 3
Investments in securities:
Investments in trading securities	0	0
Total assets measured at fair value	3,975	0
Long Term Investment, at Cost, in Private Equity	3,975
Inputs, Net Asset Value [Member]
Investments in securities:
Investments in trading securities	0	0
Total assets measured at fair value	263	$ 0
Long Term Investment, at Cost, in a private investment fund	$ 263

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Changes in goodwill
Beginning balance	$ 19,804	$ 27,144
Goodwill, Written off Related to Sale of Business Unit	0	(7,340)
Ending balance	19,804	19,804
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 23,578	$ 22,557
Trade Names [Member]
Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (years)	4 years 10 months 24 days	4 years 10 months 24 days
Gross Carrying Amount	$ 708	$ 708
Internally developed software
Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (years)	5 years 9 months 18 days	7 years
Gross Carrying Amount	$ 1,439	$ 418

Intangible Assets (Details 1)

Intangible Assets (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 1,726	$ 1,672	$ 1,872
Summary of intangible assets
Gross Carrying Amount	23,578	22,557
Accumulated Amortization	(8,322)	(6,596)
Net Carrying Amount	$ 15,256	$ 15,961
Customer Relationships [Member]
Summary of intangible assets
Weighted Average Amortization Period (years)	14 years 9 months 18 days	14 years 9 months 18 days
Gross Carrying Amount	$ 21,431	$ 21,431
Accumulated Amortization	(7,416)	(5,960)
Net Carrying Amount	$ 14,015	$ 15,471
Trade Names [Member]
Summary of intangible assets
Weighted Average Amortization Period (years)	4 years 10 months 24 days	4 years 10 months 24 days
Gross Carrying Amount	$ 708	$ 708
Accumulated Amortization	(673)	(537)
Net Carrying Amount	$ 35	$ 171
Internally developed software
Summary of intangible assets
Weighted Average Amortization Period (years)	5 years 9 months 18 days	7 years
Gross Carrying Amount	$ 1,439	$ 418
Accumulated Amortization	(233)	(99)
Net Carrying Amount	1,206	319
General and Administrative Expense [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 1,726	$ 1,700	$ 1,900

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Estimated Amortization) (Details 2) $ in Thousands	Dec. 31, 2019USD ($)
Estimated amortization expense for intangible assets for the next five years
2019	$ 1,658
2020	1,548
2021	1,548
2022	1,529
2023	$ 1,454

Balance Sheet Components (Detai

Balance Sheet Components (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property and equipment
Accumulated depreciation	$ (7,395)	$ (6,462)
Net property and equipment	4,152	4,454
Leasehold improvements
Property and equipment
Property and equipment cost	5,517	4,714
Furniture and fixtures
Property and equipment
Property and equipment cost	2,906	2,716
Computer hardware and office equipment
Property and equipment
Property and equipment cost	3,118	2,996
Construction in progress
Property and equipment
Property and equipment cost	$ 6	$ 490

Income Taxes (by jurisdiction)

Income Taxes (by jurisdiction) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income (loss) before income taxes by jurisdiction
U.S.									$ 10,237	$ 21,250	$ 17,531
Canada									(835)	15,212	16,362
Income (loss) before income taxes	$ 3,691	$ 1,559	$ 2,656	$ 1,496	$ 7,888	$ 7,151	$ 10,936	$ 10,487	$ 9,402	$ 36,462	$ 33,893

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Tax Reform [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ 30,000	$ (10,000)	$ 1,578,000
Prepaid Taxes	$ 1,150,000	$ 349,000
U.S. Federal corporate tax rate	21.00%	21.00%	35.00%
Penalties and interest		$ 140,000,000,000	$ 200,000
Foreign Earnings Repatriated	$ 31,000,000
Unrecognized deferred tax liability	1,600,000
Uncertain tax position	184,000	184,000	160,000
Additions for tax positions related to the current year	2,000		28,000
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	$ 0	$ 118,000	$ 1,767,000

Income Taxes (Effective tax rat

Income Taxes (Effective tax rate reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Difference between the Federal corporate tax rate and the effective tax rate
Income tax provision computed at US federal statutory rate	$ 1,974	$ 7,657	$ 11,859
Canadian rate differential	(26)	895	(1,398)
Change in ASC 740-10 positions (net)	512	916	626
Other, net	408	521	421
Income tax expense (benefit)	$ 3,491	$ 9,711	$ 13,904
Income tax provision computed at US federal statutory rate, effective tax rate	21.00%	21.00%	35.00%
Canadian rate differential, effective tax rate	(0.30%)	2.40%	(4.10%)
Global Intangible Low Taxed Income, Net Deductions	$ 0	$ 1,573	$ 0
Global Intangible Low Taxed Income, Percent	0.00%	4.30%	0.00%
State and local income taxes, net of federal income taxes, effective tax rate	5.40%	2.50%	1.90%
Effective Income Tax Rate Reconciliation, Tax Credit, Amount	$ 0	$ 1,528	$ 0
Effective Income Tax Rate Reconciliation, Tax Credit, Percent	0.00%	4.20%	0.00%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ 30	$ (10)	$ 1,578
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	0.30%	0.00%	4.60%
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	$ 0	$ 118	$ 1,767
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Percent	0.00%	0.30%	5.20%
Other, net, effective tax rate	4.40%	1.40%	1.20%
Effective income tax rate	37.10%	26.60%	41.00%
State and local income taxes, net of federal income taxes, effective tax rate	5.40%	2.50%	1.90%
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 3,975	$ 0	$ 0
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Amount	$ 594	$ (450)	$ (946)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Percent	6.30%	(1.20%)	(2.80%)
Effective Income Tax Rate Reconciliation, Tax Contingency, Amount [Abstract]
Effective Income Tax Rate Reconciliation, Tax Contingency, State and Local, Percent	0.00%	0.10%	0.00%
Income tax provision computed at US federal statutory rate, effective tax rate	21.00%	21.00%	35.00%
Canadian rate differential, effective tax rate	(0.30%)	2.40%	(4.10%)
Global Intangible Low Taxed Income, Net Deductions	$ 0	$ 1,573	$ 0
Effective Income Tax Rate Reconciliation, Tax Credit, Percent	0.00%	(4.20%)	0.00%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ 30	$ (10)	$ 1,578
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	$ 0	$ 118	$ 1,767
Other, net, effective tax rate	4.40%	1.40%	1.20%
Effective Income Tax Rate Reconciliation, Tax Contingency, Amount	$ (1)	$ 19	$ (3)

Income Taxes (Provision Compone

Income Taxes (Provision Components) (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current taxes:
U.S. Federal	$ 424	$ 5,949	$ 1,122
State and local	350	1,477	662
Foreign	(189)	4,034	4,578
Total current taxes	585	11,460	6,362
Deferred taxes:
U.S. Federal	2,619	(1,853)	7,569
State and local	222	(169)	22
Foreign	65	273	(49)
Total deferred taxes	2,906	(1,749)	7,542
Income tax expense (benefit)	$ 3,491	$ 9,711	$ 13,904

Income Taxes (Deferred Taxes) (

Income Taxes (Deferred Taxes) (Details 2) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Stock-based compensation expense	$ 2,222	$ 3,137
Deferred rent	2,172	2,369
Compensation and benefits payable	1,938	2,606
Federal unrecognized tax benefit	38	51
Other	(23)	4
Total deferred tax assets	6,347	8,167
Deferred tax liabilities:
Property and equipment	(359)	(620)
Intangibles	(911)	(448)
Unrealized gains on investments	(833)	(17)
Total deferred tax liabilities	(4,131)	(3,065)
Net deferred tax assets	2,216	5,102
Deferred Tax Liabilities, Leasing Arrangements	$ (2,028)	$ (1,980)

Income Taxes (Details 3)

Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Net deferred tax assets and liabilities are reflected on our balance sheet
Net deferred tax assets	$ 2,216	$ 5,102

Income Taxes Income Taxes (Unce

Income Taxes Income Taxes (Uncertain Tax Positions) (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1, 2017	$ 184
Additions for tax positions related to the current year	2	$ 28
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	200
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(2)	(4)
Balance at December 31, 2017	184	$ 160
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 200

Regulatory Capital Requiremen_2

Regulatory Capital Requirements (Details) - Dec. 31, 2019 $ in Millions	CAD ($)	USD ($)
Banking and Thrift [Abstract]
Minimum capital requirement		$ 4
Excess from Minimum capital requirement		7.9
Required combined cash and receivables	$ 100,000
Combined cash and receivables	$ 49,200,000	$ 37.9

Revenue Revenue Disaggregated (

Revenue Revenue Disaggregated (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Advisory Fee Revenues Our advisory fees are generated by Westwood Management and Westwood International, which manage client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and are paid in accordance with the terms of the agreements. Advisory fees are paid quarterly in advance based on AUM on the last day of the preceding quarter, quarterly in arrears based on AUM on the last day of the quarter just ended or are based on a daily or monthly analysis of AUM for the stated period. We recognize advisory fee revenues as services are rendered. Since our advance paying clients' billing periods coincide with the calendar quarter to which such payments relate, revenue is recognized within the quarter and our Consolidated Financial Statements contain no deferred advisory fee revenues. Advisory clients typically consist of institutional and mutual fund accounts. Institutional investors include separate accounts of (i) corporate pension and profit sharing plans, public employee retirement funds, Taft-Hartley plans, endowments, foundations and individuals; (ii) subadvisory relationships where Westwood provides investment management services for funds offered by other financial institutions; (iii) pooled investment vehicles, including the UCITS Fund and collective investment trusts; and (iv) managed account relationships with brokerage firms and other registered investment advisors that offer Westwood products to their customers. Mutual funds include the Westwood Funds®, a family of mutual funds for which Westwood Management serves as advisor. These funds are available to individual investors, as well as offered as part of our investment strategies for institutional investors and wealth management accounts. Arrangements with Performance Based Obligations A limited number of our advisory clients have a contractual performance-based fee component in their contracts, which generates additional revenues if we outperform a specified index over a specific period of time, and a limited number of our mutual fund offerings have fees that generate additional revenues if we outperform specified indices over specific periods of time. The revenue is based on future market performance and is subject to factors outside our control. We cannot conclude that a significant reversal in the cumulative amount of revenue recognized will not occur during the measurement period, and therefore the revenue is recorded at the end of the measurement period when the performance obligation has been satisfied. Trust Fee Revenues Our trust fees are generated by Westwood Trust pursuant to trust or custodial agreements. Trust fees are separately negotiated with each client and are generally based on a percentage of AUM. Westwood Trust also provides trust services to a small number of clients on a fixed fee basis. The fees for most of our trust clients are calculated quarterly in arrears, based on a daily average of AUM for the quarter, or monthly, based on the month-end value of AUM. Since billing periods for most of Westwood Trust’s clients coincide with the calendar quarter, revenue is fully recognized within the quarter and our Consolidated Financial Statements contain no deferred advisory fee revenues. Disaggregated Revenues Sales taxes are excluded from revenues. The following table presents our revenue disaggregated by account type (in thousands): Year Ended December 31, 2019 2018 2017 Advisory Fees: Institutional $ 37,289 $ 59,345 $ 69,029 Mutual Funds 19,288 29,792 30,172 Wealth Management 456 230 — Performance-based 764 2,984 1,411 Trust Fees 25,483 28,953 31,621 Other 799 996 1,552 Total revenues $ 84,079 $ 122,300 $ 133,785 We have clients in various locations around the world. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands): Year Ended December 31, 2019 Advisory Trust Performance-based Other Total Asia $ 1,639 $ — $ — $ — $ 1,639 Australia 591 — — — 591 Canada 2,740 — — 282 3,022 Europe 3,703 — 764 — 4,467 U.S. 48,360 25,483 — 517 74,360 Total $ 57,033 $ 25,483 $ 764 $ 799 $ 84,079 Year Ended December 31, 2018 Advisory Trust Performance-based Other Total Asia $ 4,305 $ — $ — $ — $ 4,305 Australia 3,783 — — — 3,783 Canada 6,605 — — 163 6,768 Europe 4,860 — — — 4,860 U.S. 69,814 28,953 2,984 833 102,584 Total $ 89,367 $ 28,953 $ 2,984 $ 996 $ 122,300 Year Ended December 31, 2017 Advisory Trust Performance-based Other Total Asia $ 6,312 $ — $ — $ — $ 6,312 Australia 3,334 — — — 3,334 Canada 8,737 — — 432 9,169 Europe 3,873 — — — 3,873 U.S. 76,945 31,621 1,411 1,120 111,097 Total $ 99,201 $ 31,621 $ 1,411 $ 1,552 $ 133,785
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ (84,079)	$ (122,300)	$ (133,785)
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(74,360)	(102,584)	(111,097)
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(4,467)	(4,860)	(3,873)
CANADA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(3,022)	(6,768)	(9,169)
AUSTRALIA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(591)	(3,783)	(3,334)
Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(1,639)	(4,305)	(6,312)
Other Revenue Misc Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(799)	(996)	(1,552)
Other Revenue Misc Services [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(517)	(833)	(1,120)
Other Revenue Misc Services [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0
Other Revenue Misc Services [Member] | CANADA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(282)	(163)	(432)
Other Revenue Misc Services [Member] | AUSTRALIA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0
Other Revenue Misc Services [Member] | Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0
performance fee [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(764)	(2,984)	(1,411)
performance fee [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	(2,984)	(1,411)
performance fee [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(764)	0	0
performance fee [Member] | CANADA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0
performance fee [Member] | AUSTRALIA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0
performance fee [Member] | Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0
Trust Fee [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(25,483)	(28,953)	(31,621)
Trust Fee [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(25,483)	(28,953)	(31,621)
Trust Fee [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0
Trust Fee [Member] | CANADA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0
Trust Fee [Member] | AUSTRALIA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0
Trust Fee [Member] | Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0
Investment Advisory Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(57,033)	(89,367)	(99,201)
Investment Advisory Services [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(48,360)	(69,814)	(76,945)
Investment Advisory Services [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(3,703)	(4,860)	(3,873)
Investment Advisory Services [Member] | CANADA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(2,740)	(6,605)	(8,737)
Investment Advisory Services [Member] | AUSTRALIA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(591)	(3,783)	(3,334)
Investment Advisory Services [Member] | Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(1,639)	(4,305)	(6,312)
Advisory [Member] | Other Revenue Misc Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(799)	(996)	(1,552)
Advisory [Member] | performance fee [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(764)	(2,984)	(1,411)
Advisory [Member] | Investment Advisory Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(37,289)	(59,345)	(69,029)
Advisory [Member] | Mutual Fund Advisory [Member] [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(19,288)	(29,792)	(30,172)
Advisory [Member] | Private Wealth Advisory [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(456)	(230)	0
Trust [Member] | Trust Fee [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ (25,483)	$ (28,953)	$ (31,621)

Employee Benefits (Details Text

Employee Benefits (Details Textual) $ / shares in Units, $ in Millions	Apr. 26, 2019shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018CAD ($)	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)	Dec. 31, 2019CAD ($)shares	Dec. 31, 2019USD ($)$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount of shares purchased in the open market | $		$ 2,414,000		$ 4,000,000	$ 0
Dividends payable | $				7,710,000			$ 7,362,000
Accrued dividends | $				1,576,000			1,303,000
Accrued liability | $				600,000			$ 100,000
Litigation Settlement, Expense		$ 0	$ 5	$ 0	$ 4,009,000
Deferred Compensation Share Based Payments | Share-based Compensation Award, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of deferred share units vesting			50.00%	50.00%	20.00%
Deferred Compensation Share Based Payments | Share-based Compensation Award, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of deferred share units vesting			25.00%	25.00%	40.00%
Deferred Compensation Share Based Payments | Share-based Compensation Award, Tranche Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of deferred share units vesting			25.00%	25.00%	60.00%
Deferred Compensation Share Based Payments | Share Based Compensation Award Tranche Four
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of deferred share units vesting					80.00%
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total number of shares that may be issued under the stock based compensation Plan (including predecessor plans to the Plan)						5,048,100	5,048,100
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	200,000
Shares remain available for issuance						527,000	527,000
Vested, shares		162,287
Remaining unrecognized compensation cost | $							$ 13,400,000
Remaining unrecognized compensation cost recognized over a remaining weighted average period		2 years 1 month 6 days
Number of vested shares from employees on the date vesting		62,036
Nonvested restricted shares (in shares)				440,073		396,598	396,598
Restricted Stock | Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares granted to employees vesting period		4 years
Restricted Stock | Director
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares granted to employees vesting period		1 year
Canadian Plan | Westwood International Advisors Inc
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares remain available for issuance						59,000	59,000
Fund purchases of common stock						$ 10	$ 7,700,000
Purchases of common stock with respect to awards granted | $		$ 1,700,000
Share price | $ / shares							$ 29.62
Number of shares purchased in the open market		25,047
Vested, shares		24,840
Fair value of vested shares | $		$ 800,000
Treasury Stock, Common, Shares						36,238	36,238
Purchase of treasury stock, shares		1,000,000
Remaining unrecognized compensation cost | $							$ 700,000
Remaining unrecognized compensation cost recognized over a remaining weighted average period		1 year 8 months 12 days
Compensation expense recorded | $		$ 200,000		$ 100,000	$ 200,000
Deferred Compensation Share Based Payments
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares granted to employees vesting period			6 years	6 years
Accrued liability | $							$ 500,000
Deferred share units, issued and outstanding		17,401
Mutual Fund [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Mutual fund vesting period		2 years
Service period of mutual fund share incentive award		3 years
Compensation expense recorded | $				$ 300,000	$ 1,200,000
Benefit Plans [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		4 years
Percentage of compensation		6.00%

Employee Benefits (Stock Comp E

Employee Benefits (Stock Comp Expense Summary table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 10,305	$ 15,283	$ 16,430
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total income tax benefit recognized related to stock-based compensation	1,932	3,592	6,168
Restricted Stock | Service condition restricted stock expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense	7,240	9,941	10,334
Restricted Stock | Performance-based restricted stock expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense	2,388	4,760	5,387
Restricted Stock | Restricted stock expense under the Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense	9,628	14,701	15,721
Restricted Stock | Canadian Plan restricted stock expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense	$ 677	$ 582	$ 709

Employee Benefits (Details 1)

Employee Benefits (Details 1) - Restricted Shares Subject Only to a Service Condition	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Restricted shares subject only to a service condition:
Non-vested, January 1, 2015 (in shares) | shares	440,073
Granted (in shares) | shares	198,295
Vested (in shares) | shares	(162,287)
Forfeited (in shares) | shares	(79,483)
Non-vested, December 31, 2015 (in shares) | shares	396,598
Non-vested, January 1, 2015 (in dollars per share) | $ / shares	$ 56.40
Granted (in dollars per share) | $ / shares	38.64
Vested (in dollars per share) | $ / shares	57.14
Forfeited (in dollars per share) | $ / shares	50.92
Non-vested, December 31, 2015 (in dollars per share) | $ / shares	$ 48.31

Employee Benefits (Service Gran

Employee Benefits (Service Grants and Vests) (Details) - Service condition restricted stock expense - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Weighted-average grant date fair value for shares granted and the total fair value of shares vested
Weighted-average grant date fair value (in dollars per share)	$ 38.64	$ 55.92	$ 61.20
Fair value of shares vested (in thousands)	$ 9,273	$ 11,189	$ 10,764

Employee Benefits (Performance

Employee Benefits (Performance Grants and Vests) (Details) - Restricted Shares Subject to Service and Performance Conditions - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	80,975	156,293
Vested (in dollars per share)	$ 56.09
Weighted-average grant date fair value for shares granted and the total fair value of shares vested
Weighted-average grant date fair value (in dollars per share)	$ 37.90	$ 51.85	$ 54.86
Fair value of shares vested (in thousands)	$ 4,515	$ 5,485	$ 5,792
Vested, shares	80,493
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 49.73	$ 55.66
Granted (in shares)	24,670
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	19,495
Forfeited (in dollars per share)	$ 55.18

Employee Benefits (Profit Shari

Employee Benefits (Profit Sharing and 401k) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Profit sharing and 401(k) contributions for the periods
Profit-sharing contributions	$ 31	$ 926	$ 1,613
Retirement plan matching contributions	$ 1,597	$ 1,604	$ 1,602

Earnings Per Share (Anti-diluti

Earnings Per Share (Anti-dilutive Shares) (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive restricted shares or options	76,000	7,300	6,614

Earnings Per Share (Computaton

Earnings Per Share (Computaton of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Computation of Basic and Diluted Shares
Net income	$ 2,541	$ 1,117	$ 1,861	$ 392	$ 5,413	$ 5,368	$ 7,992	$ 7,978	$ 5,911	$ 26,751	$ 19,989
Weighted average shares outstanding – basic (in shares)									8,408,017	8,365,360	8,147,742
Dilutive potential shares from unvested restricted shares (in shares)									55,222	182,010	252,280
Weighted average shares outstanding – diluted (in shares)									8,463,239	8,547,370	8,400,022
Earnings per share:
Basic (in dollars per share)	$ 0.30	$ 0.13	$ 0.22	$ 0.05	$ 0.65	$ 0.64	$ 0.95	$ 0.96	$ 0.70	$ 3.20	$ 2.45
Diluted (in dollars per share)	$ 0.30	$ 0.13	$ 0.22	$ 0.05	$ 0.64	$ 0.62	$ 0.94	$ 0.93	$ 0.70	$ 3.13	$ 2.38

Variable Interest Entities (Det

Variable Interest Entities (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Investments in trading securities	$ 50,324	$ 65,781
Fee revenues from Westwood VIEs	31,000	46,100	$ 51,900
Variable Interest Entity [Member]
Variable Interest Entity [Line Items]
Investments in trading securities	6,400	$ 6,100
Common Trust Funds
Variable Interest Entity [Line Items]
Investments in trading securities	0
UCITS Fund
Variable Interest Entity [Line Items]
Investments in trading securities	$ 0

Variable Interest Entities (D_2

Variable Interest Entities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Variable Interest Entities
Assets Under Management	$ 15,235,000
Corporate Investment	50,324	$ 65,781
Fee revenues from Westwood VIEs	31,000	$ 46,100	$ 51,900
Westwood Funds
Variable Interest Entities
Assets Under Management	2,058,000
Corporate Investment	6,000
Amount at Risk	6,000
Common Trust Funds
Variable Interest Entities
Assets Under Management	1,409,000
Corporate Investment	0
Amount at Risk	0
UCITS Fund
Variable Interest Entities
Assets Under Management	319,000
Corporate Investment	0
Amount at Risk	0
Westwood Hospitality Fund I LLC [Member]
Variable Interest Entities
Assets Under Management	13,000
Corporate Investment	300
Amount at Risk	300
Private Equity Investments [Member]
Variable Interest Entities
Assets Under Management	0
Corporate Investment	12,000
Amount at Risk	12,000
Wealth Management
Variable Interest Entities
Assets Under Management	3,016,000
Institutional
Variable Interest Entities
Assets Under Management	$ 8,420,000

Related Party Transactions (Det

Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Sublease Income	$ 144,000	$ 0	$ 0
Sublease Income	144,000	0	0
UCITS Fund
Related Party Transaction [Line Items]
Fees earned from related party	2,800,000	4,200,000	$ 4,000,000
Fees unpaid from related party	200,000	$ 300,000
Trust
Related Party Transaction [Line Items]
Due from related party	100,000
Fees earned from related party	$ 400,000

Commitments and Contingencies_2

Commitments and Contingencies (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2018USD ($)
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party		$ 10
Litigation Settlement, Expense	$ 0	5	$ 0	$ 4,009,000
Percentage of defense costs which will be covered by insurance	50.00%
Insurance proceeds			$ 200,000	300,000
Estimated Litigation Liability, Current				$ 4,000,000
First Lawsuit By A G F
Loss Contingencies [Line Items]
Lawsuit filing date	On August 3, 2012, AGF Management Limited and AGF Investments Inc. (together “AGF”) filed a lawsuit in the Ontario Superior Court of Justice against Westwood, certain Westwood employees and the executive recruiting firm of Warren International, LLC (“Warren”).
Second Lawsuit by AGF
Loss Contingencies [Line Items]
Lawsuit filing date	November 6, 2012, AGF filed a second lawsuit against Westwood, Westwood Management and an employee of a Westwood subsidiary
Insurance Settlement [Member]
Loss Contingencies [Line Items]
Insurance proceeds	$ 4,000,000
Loss contingency, receivable		$ 5			$ 4,000,000

Commitments and Contingencies_3

Commitments and Contingencies (Details) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Litigation Settlement, Expense	$ 0	$ 5	$ 0	$ 4,009
Future contractual rental payments for non-cancelable operating leases
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	200
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	200
Unrecorded Unconditional Purchase Obligation, Due in Next Twelve Months	4,385
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three	4,394
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five	1,715
Unrecorded Unconditional Purchase Obligation, Due after Five Years	524
Unrecorded Unconditional Purchase Obligation	$ 11,018

Segment Reporting (Details Text

Segment Reporting (Details Textual)	12 Months Ended
	Dec. 31, 2019Segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment Reporting (Details)

Segment Reporting (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenue From External Sources									$ 83,280,000	$ 121,304,000	$ 132,233,000
Net intersegment revenues									0	0	0
Net interest and dividend revenue									103,000	910,000	636,000
Other revenue									696,000	86,000	916,000
Total revenues	$ 18,616,000	$ 19,892,000	$ 21,709,000	$ 23,862,000	$ 26,119,000	$ 29,854,000	$ 32,760,000	$ 33,567,000	84,079,000	122,300,000	133,785,000
Expenses:
Depreciation and amortization									2,624,000	2,539,000	2,916,000
Other operating expenses									76,811,000	83,823,000	96,976,000
Total expenses									79,435,000	86,362,000	99,892,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal									0	524,000	0
Income (loss) before income taxes	3,691,000	1,559,000	2,656,000	1,496,000	7,888,000	7,151,000	10,936,000	10,487,000	9,402,000	36,462,000	33,893,000
Income tax expense (benefit)									3,491,000	9,711,000	13,904,000
Net income	2,541,000	$ 1,117,000	$ 1,861,000	$ 392,000	5,413,000	$ 5,368,000	$ 7,992,000	$ 7,978,000	5,911,000	26,751,000	19,989,000
Restricted stock expense									10,305,000	15,283,000	16,430,000
Amortization of intangible assets									1,726,000	1,672,000	1,872,000
Deferred taxes on goodwill									237,000	237,000	626,000
Economic Earnings (Loss)									18,179,000	43,943,000	38,917,000
Assets	178,707,000				199,183,000				178,707,000	199,183,000	192,659,000
Segment goodwill	19,804,000				19,804,000				19,804,000	19,804,000	27,144,000
Expenditures for long-lived assets									593,000	991,000	884,000
Unrealized Gain (Loss) on Investments									3,296,000
Investment Income, Investment Expense									1,318,000
Other Income									144,000
General and Administrative Expense [Member]
Expenses:
Amortization of intangible assets									1,726,000	1,700,000	1,900,000
Operating Segments | Advisory [Member]
Segment Reporting Information [Line Items]
Revenue From External Sources									57,797,000	92,351,000	100,612,000
Net intersegment revenues									3,457,000	6,973,000	8,120,000
Net interest and dividend revenue									103,000	708,000	546,000
Other revenue									696,000	53,000	911,000
Total revenues									62,053,000	100,085,000	110,189,000
Expenses:
Depreciation and amortization									311,000	276,000	548,000
Other operating expenses									46,235,000	48,970,000	58,950,000
Total expenses									46,546,000	49,246,000	59,498,000
Income (loss) before income taxes									17,962,000	50,838,000	50,691,000
Income tax expense (benefit)									4,308,000	12,032,000	17,120,000
Net income									13,654,000	38,806,000	33,571,000
Restricted stock expense									5,362,000	8,673,000	9,140,000
Amortization of intangible assets									170,000	95,000	138,000
Deferred taxes on goodwill									0	0	38,000
Economic Earnings (Loss)									19,186,000	47,574,000	42,887,000
Assets	242,854,000				230,565,000				242,854,000	230,565,000	207,792,000
Segment goodwill	3,403,000				3,403,000				3,403,000	3,403,000	5,219,000
Expenditures for long-lived assets									288,000	314,000	151,000
Unrealized Gain (Loss) on Investments									1,438,000
Investment Income, Investment Expense									1,017,000
Other Income									0
Operating Segments | Trust [Member]
Segment Reporting Information [Line Items]
Revenue From External Sources									25,483,000	28,953,000	31,621,000
Net intersegment revenues									236,000	238,000	218,000
Net interest and dividend revenue									0	202,000	90,000
Other revenue									0	33,000	5,000
Total revenues									25,719,000	29,426,000	31,934,000
Expenses:
Depreciation and amortization									1,765,000	1,764,000	1,900,000
Other operating expenses									19,672,000	25,467,000	28,580,000
Total expenses									21,437,000	27,231,000	30,480,000
Income (loss) before income taxes									5,606,000	2,179,000	1,454,000
Income tax expense (benefit)									1,459,000	572,000	(47,000)
Net income									4,147,000	1,607,000	1,501,000
Restricted stock expense									1,587,000	2,356,000	2,641,000
Amortization of intangible assets									1,516,000	1,537,000	1,734,000
Deferred taxes on goodwill									237,000	237,000	588,000
Economic Earnings (Loss)									7,487,000	5,737,000	6,464,000
Assets	51,274,000				64,196,000				51,274,000	64,196,000	69,174,000
Segment goodwill	16,401,000				16,401,000				16,401,000	16,401,000	21,925,000
Expenditures for long-lived assets									223,000	295,000	530,000
Unrealized Gain (Loss) on Investments									1,026,000
Investment Income, Investment Expense									298,000
Other Income									0
Westwood Holdings
Segment Reporting Information [Line Items]
Revenue From External Sources									0	0	0
Net intersegment revenues									0	0	0
Net interest and dividend revenue									0	0	0
Other revenue									0	0	0
Total revenues									0	0	0
Expenses:
Depreciation and amortization									548,000	499,000	468,000
Other operating expenses									14,597,000	16,597,000	17,784,000
Total expenses									15,145,000	17,096,000	18,252,000
Income (loss) before income taxes									(14,166,000)	(16,555,000)	(18,252,000)
Income tax expense (benefit)									(2,276,000)	(2,893,000)	(3,169,000)
Net income									(11,890,000)	(13,662,000)	(15,083,000)
Restricted stock expense									3,356,000	4,254,000	4,649,000
Amortization of intangible assets									40,000	40,000	0
Deferred taxes on goodwill									0	0	0
Economic Earnings (Loss)									(8,494,000)	(9,368,000)	(10,434,000)
Assets	24,732,000				19,240,000				24,732,000	19,240,000	18,437,000
Segment goodwill	0				0				0	0	0
Expenditures for long-lived assets									82,000	382,000	203,000
Unrealized Gain (Loss) on Investments									832,000
Investment Income, Investment Expense									3,000
Other Income									144,000
Eliminations
Segment Reporting Information [Line Items]
Revenue From External Sources									0	0	0
Net intersegment revenues									(3,693,000)	(7,211,000)	(8,338,000)
Net interest and dividend revenue									0	0	0
Other revenue									0	0	0
Total revenues									(3,693,000)	(7,211,000)	(8,338,000)
Expenses:
Depreciation and amortization									0	0	0
Other operating expenses									(3,693,000)	(7,211,000)	(8,338,000)
Total expenses									(3,693,000)	(7,211,000)	(8,338,000)
Income (loss) before income taxes									0	0	0
Income tax expense (benefit)									0	0	0
Net income									0	0	0
Restricted stock expense									0	0	0
Amortization of intangible assets									0	0	0
Deferred taxes on goodwill									0	0	0
Economic Earnings (Loss)									0	0	0
Assets	(140,153,000)				(114,818,000)				(140,153,000)	(114,818,000)	(102,744,000)
Segment goodwill	$ 0				$ 0				0	0	0
Expenditures for long-lived assets									0	$ 0	$ 0
Unrealized Gain (Loss) on Investments									0
Investment Income, Investment Expense									0
Other Income									$ 0

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Net Income to Economic Earnings (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting [Abstract]
Net income	$ 2,541	$ 1,117	$ 1,861	$ 392	$ 5,413	$ 5,368	$ 7,992	$ 7,978	$ 5,911	$ 26,751	$ 19,989
Restricted stock expense									10,305	15,283	16,430
Amortization of intangible assets									1,726	1,672	1,872
Add: Tax benefit from goodwill amortization									237	237	626
Economic Earnings (Loss)									$ 18,179	$ 43,943	$ 38,917

Segment Reporting - Property an

Segment Reporting - Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net property and equipment	$ 4,152	$ 4,454
U.S.
Segment Reporting Information [Line Items]
Net property and equipment	4,095	4,381
Canada
Segment Reporting Information [Line Items]
Net property and equipment	$ 57	$ 73

Concentration (Details Textual)

Concentration (Details Textual) - Customers	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Customer Concentration Risk
Concentration Risk [Line Items]
Revenue accounted by major clients	20.00%
Customer Relationships [Member]
Concentration Risk [Line Items]
Revenue accounted by major clients	10.00%
Sales Revenue, Net | Customer Concentration Risk
Concentration Risk [Line Items]
Number of largest clients		10	10

Concentration (Details)

Concentration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 84,079	$ 122,300	$ 133,785
Customer Concentration Risk
Concentration Risk [Line Items]
Revenue accounted by major clients	20.00%
Westwood Management | Sales Revenue, Net | Customer Concentration Risk
Concentration Risk [Line Items]
Revenue accounted by major clients	3.20%	4.00%	4.80%
Asset Management [Member] | Sales Revenue, Net | Customer Concentration Risk
Concentration Risk [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,863	$ 1,868	$ 6,312
Investment Performance [Member] | Sales Revenue, Net | Customer Concentration Risk
Concentration Risk [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 764	$ 2,984	$ 0

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event - USD ($) $ / shares in Units, $ in Millions	Feb. 20, 2020	Feb. 05, 2020
Subsequent Event [Line Items]
Dividends declared per share		$ 0.43
Stock Repurchase Program, Number of Shares Authorized to be Repurchased		10,000,000
Stock Repurchase Program, Number of Shares Authorized to be Repurchased		10,000,000
Restricted Stock
Subsequent Event [Line Items]
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 6.7
Restricted stock issued	242,000

Quarterly Financial Data (Detai

Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 18,616	$ 19,892	$ 21,709	$ 23,862	$ 26,119	$ 29,854	$ 32,760	$ 33,567	$ 84,079	$ 122,300	$ 133,785
Income (loss) before income taxes	3,691	1,559	2,656	1,496	7,888	7,151	10,936	10,487	9,402	36,462	33,893
Net income	$ 2,541	$ 1,117	$ 1,861	$ 392	$ 5,413	$ 5,368	$ 7,992	$ 7,978	$ 5,911	$ 26,751	$ 19,989
Basic earnings per common share (in dollars per share)	$ 0.30	$ 0.13	$ 0.22	$ 0.05	$ 0.65	$ 0.64	$ 0.95	$ 0.96	$ 0.70	$ 3.20	$ 2.45
Diluted earnings per common share (in dollars per share)	$ 0.30	$ 0.13	$ 0.22	$ 0.05	$ 0.64	$ 0.62	$ 0.94	$ 0.93	$ 0.70	$ 3.13	$ 2.38

Leases, Codification Topic 84_2

Leases, Codification Topic 842 (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Other Long-term Investments	$ 4,238,000	$ 0
Lessee, Operating Lease, Liability, Payments, Due	2,117,000
Lessee, Operating Lease, Liability, Payments, Due Year Two	2,081,000
Lessee, Operating Lease, Liability, Payments, Due Year Three	1,717,000
Lessee, Operating Lease, Liability, Payments, Due Year Four	1,719,000
Lessee, Operating Lease, Liability, Payments, Due Year Five	1,550,000
Lessee, Operating Lease, Liability, Payments, Due after Year Five	1,853,000
Operating Lease, Payments	2,095,000	1,909,000	$ 1,860,000
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(1,691,000)
Operating Lease, Liability	9,346,000	10,763,000
Operating Lease, Cost	1,796,000	1,706,000	1,583,000
Sublease Income	144,000	0	0
Operating Lease, Right-of-Use Asset	7,562,000	8,698,000
Operating Lease, Liability, Current	1,584,000	1,432,000
Operating Lease, Liability, Noncurrent	$ 7,762,000	$ 9,331,000
Operating Lease, Weighted Average Remaining Lease Term	5 years 8 months 12 days	6 years 7 months 6 days
Operating Lease, Weighted Average Discount Rate, Percent	5.00%	5.00%
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 0	$ 1,010,000	$ 0
Operating Lease, Lease Income, Lease Payments	$ 11,037,000