Westwood (WHG) 10-Q 27 Jul 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 20, 2022
Document And Entity Information [Abstract]
Document Transition Report	false
Document Quarterly Report	true
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2969997
Entity Address, Address Line One	200 CRESCENT COURT, SUITE 1200
Entity Address, State or Province	TX
Title of 12(b) Security	Common stock, par value $0.01 per share
Entity Registrant Name	WESTWOOD HOLDINGS GROUP, INC.
City Area Code	214
Local Phone Number	756-6900
Entity Central Index Key	0001165002
Document Type	10-Q
Entity File Number	1-31234
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		8,460,050
Entity Emerging Growth Company	false
Trading Symbol	WHG
Security Exchange Name	NYSE
Entity Address, Postal Zip Code	75201
Entity Small Business	true
Entity Filer Category	Non-accelerated Filer
Entity Address, City or Town	DALLAS,
Document Period End Date	Jun. 30, 2022

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Operating Lease, Liability, Current		$ 1,499,000	$ 1,409,000
Current Assets:
Cash and cash equivalents		21,975,000	15,206,000
Accounts receivable		9,290,000	11,152,000
Investments, at fair value		51,606,000	65,024,000
Income Taxes Receivable, Current		587,000	233,000
Other current assets		1,917,000	2,246,000
Total current assets		85,375,000	93,861,000
Long-term Investments		4,455,000	4,455,000
Long-term Investments Carried at Fair Value		4,249,000	4,513,000
Goodwill		16,401,000	16,401,000
Deferred income taxes		1,350,000	848,000
Operating lease right-of-use assets		4,379,000	4,868,000
Intangible assets, net		11,100,000	11,911,000
Property and equipment, net of accumulated depreciation of $8,976 and $8,637		1,844,000	2,114,000
Other long-term assets		772,000	634,000
Total assets		129,925,000	139,605,000
Current liabilities:
Accounts payable and accrued liabilities		2,513,000	2,637,000
Dividends payable		1,737,000	1,800,000
Compensation and benefits payable		3,933,000	9,530,000
Income taxes payable		0	466,000
Total current liabilities		9,682,000	15,842,000
Accrued dividends		477,000	1,133,000
Operating Lease, Liability, Noncurrent		4,048,000	4,724,000
Liabilities, Noncurrent	$ 4,525,000		5,857,000
Total liabilities		14,207,000	21,699,000
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.01 par value, authorized 25,000,000 shares, issued 11,059,848 and outstanding 8,511,014 shares at June 30, 2022; issued 10,658,644 and outstanding 8,253,491 shares at December 31, 2021		111,000	107,000
Additional paid-in capital		198,084,000	195,187,000
Treasury stock, at cost - 2,548,834 shares at June 30, 2022; 2,405,154 shares at December 31, 2021		(83,970,000)	(81,750,000)
Retained earnings		1,493,000	4,362,000
Total stockholders' equity		115,718,000	117,906,000
Total liabilities and stockholders' equity		$ 129,925,000	$ 139,605,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation	$ 7,144	$ 6,462
Common stock, par value (dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	10,314,305	10,182,583
Common stock, shares outstanding	8,906,152	8,904,902
Treasury stock, shares	1,408,152	1,277,681
Long-term Investments Carried at Fair Value	$ 4,249	$ 4,513

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Realized Investment Gains (Losses)			$ (8,371)	$ 8,371
Gain (Loss) on Investments	$ 0		0
REVENUES:
Other Revenue, Net	(742)	$ (117)	(1,031)	(272)
Total revenues	15,603	17,484	32,819	35,803
EXPENSES:
Employee compensation and benefits	9,133	10,237	19,467	21,785
Sales and marketing	509	370	991	600
Westwood mutual funds	601	368	1,197	759
Information technology	1,935	2,261	3,764	4,253
Professional services	1,475	1,428	2,995	2,745
General and administrative	2,348	2,042	4,388	4,114
Total expenses	16,001	16,706	32,802	34,256
Operating Income (Loss)	(398)	778	17	1,547
Net change in unrealized appreciation (depreciation) on private investments	(299)	215	(262)	(2,111)
Gain on sale of operations			(11)	431
Other Income	234	142	392	192
Income (loss) before income taxes	(458)	1,416	136	8,430
Income tax provision	(80)	446	464	3,359
Net income (loss)	(378)	970	(328)	5,071
Other comprehensive income (loss):
Total comprehensive income (loss)	$ (378)	$ 970	$ (328)	$ 5,071
Earnings (loss) per share:
Basic (dollars per share)	$ (0.05)	$ 0.12	$ (0.04)	$ 0.64
Diluted (dollars per share)	$ (0.05)	$ 0.12	$ (0.04)	$ 0.64
Weighted average shares outstanding:
Basic (shares)	7,944,212	7,884,771	7,904,911	7,885,901
Diluted (shares)	7,944,212	7,928,106	7,904,911	7,922,742
Investment Income, Investment Expense			$ 5	$ 235
Asset Management [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 10,980	$ 11,385	22,770	21,835
Investment Performance [Member]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0	1,959
Fiduciary and Trust [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 5,365	$ 6,216	$ 11,080	$ 12,281

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]
BALANCE at Dec. 31, 2020	$ 130,711	$ 105	$ 210,268	$ (77,967)	$ (1,695)
BALANCE, shares at Dec. 31, 2020		8,326,948
Net Income (Loss) Attributable to Parent	5,071,000
Issuance of restricted stock, net of forfeitures, shares		160,470
Dividends declared	(1,619)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,097		3,097
Purchases of treasury stock, shares		(111,357)
Restricted stock returned for payment of taxes, shares		(51,359)
BALANCE at Jun. 30, 2021	134,676	$ 108	213,362	(80,551)	1,757
BALANCE, shares at Jun. 30, 2021		8,324,702
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	884			884
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 3	(3)
Treasury Stock, Value, Acquired, Cost Method	1,700			1,700
BALANCE at Mar. 31, 2021		$ 107	211,988	(80,255)	1,605
BALANCE, shares at Mar. 31, 2021		8,313,003
Net Income (Loss) Attributable to Parent	970,000
Issuance of restricted stock, net of forfeitures, shares		30,565
Dividends declared	(818)				(818)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,375		1,375
Purchases of treasury stock, shares		(18,866)
BALANCE at Jun. 30, 2021	134,676	$ 108	213,362	(80,551)	1,757
BALANCE, shares at Jun. 30, 2021		8,324,702
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures		$ 1	(1)
Treasury Stock, Value, Acquired, Cost Method	296			296
BALANCE at Dec. 31, 2021	$ 117,906,000	$ 107,000	195,187,000	(81,750,000)	4,362,000
BALANCE, shares at Dec. 31, 2021	8,904,902	8,253,491
Net Income (Loss) Attributable to Parent	$ (328,000)
Issuance of restricted stock, net of forfeitures, shares		401,203
Dividends declared	(2,541,000)				(2,541,000)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,901,000		2,901,000
Purchases of treasury stock, shares		(106,077)
Restricted stock returned for payment of taxes, shares		(37,603)
BALANCE at Jun. 30, 2022	$ 115,718,000	$ 111,000	198,084,000	(83,970,000)	1,493,000
BALANCE, shares at Jun. 30, 2022	8,906,152	8,511,014
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	$ 626,000			626,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 4,000	(4,000)
Treasury Stock, Value, Acquired, Cost Method	1,594,000			1,594,000
BALANCE at Mar. 31, 2022	117,260,000	$ 110,000	196,564,000	(82,576,000)	3,162,000
BALANCE, shares at Mar. 31, 2022		8,575,451
Net Income (Loss) Attributable to Parent	(378,000)
Issuance of restricted stock, net of forfeitures, shares		29,438
Dividends declared	(1,291,000)				(1,291,000)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 1,521,000		1,521,000
Purchases of treasury stock, shares	(35,891)	(93,875)
BALANCE at Jun. 30, 2022	$ 115,718,000	$ 111,000	198,084,000	(83,970,000)	$ 1,493,000
BALANCE, shares at Jun. 30, 2022	8,906,152	8,511,014
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures		$ 1,000	$ (1,000)
Treasury Stock, Value, Acquired, Cost Method	$ 1,394,000			$ 1,394,000

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (dollars per share)	$ 0.15	$ 0.1

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) Attributable to Parent	$ (328)	$ 5,071
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	352	397
Amortization of intangible assets	811	812
Net change in unrealized depreciation on investments	1,312	2,273
Realized Investment Gains (Losses)	(8,371)	8,371
Stock-based compensation expense	2,901	3,097
Deferred income taxes	(502)	13
Non-cash lease expense	490	614
Gain (Loss) on Disposition of Assets	0	(148)
Change in operating assets and liabilities:
Net sales (purchases) of trading securities	12,370	(5,642)
Accounts receivable	1,862	(431)
Other current assets	192	376
Accounts payable and accrued liabilities	(314)	1,585
Compensation and benefits payable	(5,597)	(2,942)
Income taxes payable	(823)	2,899
Other liabilities	(585)	(833)
Net Cash Provided by (Used in) Operating Activities	12,141	(1,230)
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment	0	9,258
Proceeds from Sale of Productive Assets	0	501
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(82)	(93)
Payments to Acquire Intangible Assets	0	(15)
Net Cash Provided by (Used in) Investing Activities	(82)	9,651
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchases of treasury stock	(1,404)	(1,700)
Restricted stock returned for payment of taxes	(626)	(884)
Cash dividends paid	(3,264)	(1,619)
Net Cash Provided by (Used in) Financing Activities	(5,294)	(4,203)
Effect of currency rate changes on cash	4	13
NET CHANGE IN CASH AND CASH EQUIVALENTS	6,769	4,231
Cash and cash equivalents, beginning of period	15,206	13,016
Cash and cash equivalents, end of period	21,975	17,247
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for income taxes	1,791	447
Accrued dividends	2,214	1,364
190000	190	$ 0
Long-term Investments	$ 4,455

DESCRIPTION OF THE BUSINESS

DESCRIPTION OF THE BUSINESS	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS	DESCRIPTION OF THE BUSINESS Westwood Holdings Group, Inc. (“Westwood”, “the Company”, “we”, “us” or “our”) was incorporated under the laws of the State of Delaware on December 12, 2001. Westwood manages investment assets and provides services for its clients through its wholly-owned subsidiaries, Westwood Management Corp. and Westwood Advisors, L.L.C. (referred to hereinafter together as “Westwood Management”) and Westwood Trust. Westwood Management provides investment advisory services to institutional clients, a family of mutual funds called the Westwood Funds®, other mutual funds, individual investors and clients of Westwood Trust. Westwood Trust provides trust and custodial services and participation in self-sponsored common trust funds (“CTFs”) to institutions and high net worth individuals. Revenue is largely dependent on the total value and composition of assets under management ("AUM"). Accordingly, fluctuations in financial markets and in the composition of AUM impact our revenues and results of operations. Westwood Management is registered with the Securities and Exchange Commission ("SEC") as an investment advisor ("RIA") under the Investment Advisers Act of 1940. Westwood Trust is chartered and regulated by the Texas Department of Banking.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying Condensed Consolidated Financial Statements are unaudited and are presented in accordance with the requirements for quarterly reports on Form 10-Q and consequently do not include all of the information and footnote disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The Company’s Condensed Consolidated Financial Statements reflect all adjustments (consisting only of normal recurring adjustments) necessary in the opinion of management to present fairly our interim financial position and results of operations and cash flows for the periods presented. The accompanying Condensed Consolidated Financial Statements are presented in accordance with GAAP and the rules and regulations of the SEC. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements, and notes thereto, included in our Annual Report on Form 10-K for the year ended December 31, 2021. Operating results for the periods in these Condensed Consolidated Financial Statements are not necessarily indicative of results for any future period. The accompanying Condensed Consolidated Financial Statements include the accounts of Westwood and its subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS ASC 820, Fair Value Measurements, defines fair value, establishes a framework for measuring fair value and requires 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 • Level 2 – inputs other than quoted prices that are directly or indirectly observable • Level 3 – significant unobservable inputs where there is little or no market activity Our strategic investment in InvestCloud, discussed in Note 5 “Investments,” is excluded from the recurring fair value table shown below because we have elected to apply the measurement alternative for this investment. The following table summarizes the values of our investments measured at fair value on a recurring basis within the fair value hierarchy as of the dates indicated (in thousands): Level 1 Level 2 Level 3 Investments Measured at NAV (1) Total As of June 30, 2022: Investments in trading securities $ 51,606 $ — $ — $ — $ 51,606 Private investment fund — — — 225 225 Private equity — — 4,024 — 4,024 Total assets measured at fair value $ 51,606 $ — $ 4,024 $ 225 $ 55,855 As of December 31, 2021: Investments in trading securities $ 65,024 $ — $ — $ — $ 65,024 Private investment fund — — — 144 144 Private equity — — 4,369 — 4,369 Total assets measured at fair value $ 65,024 $ — $ 4,369 $ 144 $ 69,537 (1) Comprised of certain investments measured at fair value using net asset value ("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 Condensed Consolidated Balance Sheets. Our investment in Charis is included within Level 3 of the fair value hierarchy as we value that investment utilizing inputs not observable in the market. Our investment is measured at fair value on a recurring basis using a market approach based on a price to tangible book value multiple range that is determined to be reasonable in the current environment, or on market transactions. Management believes this valuation methodology is consistent with the banking industry and we will reevaluate our methodology and inputs on a quarterly basis. The following table summarizes the changes in Level 3 investments measured at fair value on a recurring basis for the periods presented (in thousands): Fair Value using Significant Unobservable Inputs (Level 3) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Beginning balance $ 4,326 $ 3,872 $ 4,369 $ 3,431 Unrealized gains (losses) on private investments (302) 215 (345) 656 Ending balance $ 4,024 $ 4,087 $ 4,024 $ 4,087

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2022
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. Goodwill is not amortized but is tested for impairment at least annually. We completed our most recent annual goodwill impairment assessment during the third quarter of 2021, and determined that no goodwill impairment related to the Trust segment was required. There was no goodwill impairment in the Trust segment during the three months ended June 30, 2022 or June 30, 2021. Other Intangible Assets

REVENUE (Notes)

REVENUE (Notes)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	REVENUE 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 such as gains and losses from our seed money investments into new investment strategies, which are included in “Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income (Loss). Advisory and trust fees are calculated based on a percentage of AUM and the performance obligation is realized over the current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment. Advisory Fee Revenues Our advisory fees are generated by Westwood Management which manages 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 Condensed 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 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 Condensed Consolidated Financial Statements contain no deferred advisory fee revenues. Revenue Disaggregated Sales taxes are excluded from revenues. The following table presents our revenue disaggregated by account type (in thousands). In 2021, we recast certain prior year revenues related to performance-based fees. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Advisory Fees: Institutional $ 6,632 $ 7,225 $ 13,681 $ 16,083 Mutual Funds 4,140 4,002 8,689 7,416 Wealth Management 208 158 400 295 Trust Fees 5,365 6,216 11,080 12,281 Other, net (742) (117) (1,031) (272) Total revenues $ 15,603 $ 17,484 $ 32,819 $ 35,803 We serve clients primarily in the United States, as well as in certain international locations. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands): Three Months Ended June 30, 2022 Advisory Trust Other Total Canada $ 303 $ — $ — $ 303 United States 10,677 5,365 (742) 15,300 Total $ 10,980 $ 5,365 $ (742) $ 15,603 Three Months Ended June 30, 2021 Advisory Trust Other Total Canada $ 297 $ — $ — $ 297 United States 11,088 6,216 (117) 17,187 Total $ 11,385 $ 6,216 $ (117) $ 17,484

INCOME TAXES (Notes)

INCOME TAXES (Notes)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	INCOME TAXESOur effective income tax rate differed from the 21% statutory rate for the first and second quarters of 2022 and 2021 due to permanent differences between book and tax restricted stock expense based on a decrease in our stock price between the restricted stock grant and vesting dates.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSThe Company engages in transactions with its affiliates in the ordinary course of business. Westwood Management provides investment advisory services to the Westwood Funds®. Under the terms of the investment advisory agreements, the Company earns quarterly fees paid by clients of the fund or by the funds directly. The fees are based on negotiated fee schedules applied to AUM. For the three and six months ended June 30, 2022 and June 30, 2021, the Company earned immaterial fees from the affiliated funds.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2022
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 reviews 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 (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 to the Westwood Funds®, funds offered by other financial institutions and funds offered by our Trust segment and (iii) pooled investment vehicles, including collective investment trusts. Westwood Management provides investment advisory services to similar clients, and is included in our Advisory segment. Trust 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 Eliminations Consolidated Three Months Ended June 30, 2022 Net fee revenues from external sources $ 10,980 $ 5,365 $ — $ — $ 16,345 Net intersegment revenues 536 88 — (624) — Other, net (742) — — — (742) Total revenues $ 10,774 $ 5,453 $ — $ (624) $ 15,603 Segment assets $ 223,773 $ 52,105 $ 28,586 $ (174,539) $ 129,925 Segment goodwill $ — $ 16,401 $ — $ — $ 16,401 Three Months Ended June 30, 2021 Net fee revenues from external sources $ 11,385 $ 6,216 $ — $ — $ 17,601 Net intersegment revenues 624 87 — (711) — Other, net (117) — — — (117) Total revenues $ 11,892 $ 6,303 $ — $ (711) $ 17,484 Segment assets $ 211,651 $ 57,214 $ 12,458 $ (129,059) $ 152,264 Segment goodwill $ — $ 16,401 $ — $ — $ 16,401

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
Subsequent Event [Line Items]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Restricted Stock Subject Only To A Service Condition Policy [Text Block]	Restricted Stock Subject Only to a Service Condition We calculate compensation cost for restricted stock grants by 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, with adjustments for forfeitures recorded as they occur.
Restricted Stock Subject To Service And Performance Conditions Policy [Text Block]	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.
Revenue [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 such as gains and losses from our seed money investments into new investment strategies, which are included in “Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income (Loss). Advisory and trust fees are calculated based on a percentage of AUM and the performance obligation is realized over the current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment. Advisory Fee Revenues Our advisory fees are generated by Westwood Management which manages 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 Condensed 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 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 Condensed Consolidated Financial Statements contain no deferred advisory fee revenues.
Basis of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements are unaudited and are presented in accordance with the requirements for quarterly reports on Form 10-Q and consequently do not include all of the information and footnote disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The Company’s Condensed Consolidated Financial Statements reflect all adjustments (consisting only of normal recurring adjustments) necessary in the opinion of management to present fairly our interim financial position and results of operations and cash flows for the periods presented. The accompanying Condensed Consolidated Financial Statements are presented in accordance with GAAP and the rules and regulations of the SEC. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements, and notes thereto, included in our Annual Report on Form 10-K for the year ended December 31, 2021. Operating results for the periods in these Condensed Consolidated Financial Statements are not necessarily indicative of results for any future period. The accompanying Condensed Consolidated Financial Statements include the accounts of Westwood and its subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation.

EARNINGS PER SHARE Policies (Po

EARNINGS PER SHARE Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share, Policy [Policy Text Block]	Basic earnings (loss) per common share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares outstanding for the applicable period. Diluted earnings per share is computed based on the weighted average number of shares outstanding plus the effect of any dilutive shares of restricted stock granted to employees and non-employee directors.

VARIABLE INTEREST ENTITIES Poli

VARIABLE INTEREST ENTITIES Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Variable Interest Entities [Abstract]
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Based on our analyses of our investments in these entities for the periods ended June 30, 2022 and December 31, 2021, we have not consolidated the CTFs or Private Funds under the VIE method or the Westwood Funds® or Private Equity under the VOE method.

REVENUE Policies (Policies)

REVENUE Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue [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 such as gains and losses from our seed money investments into new investment strategies, which are included in “Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income (Loss). Advisory and trust fees are calculated based on a percentage of AUM and the performance obligation is realized over the current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment. Advisory Fee Revenues Our advisory fees are generated by Westwood Management which manages 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 Condensed 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 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 Condensed Consolidated Financial Statements contain no deferred advisory fee revenues.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share and share amounts): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net income (loss) $ (378) $ 970 $ (328) $ 5,071 Weighted average shares outstanding - basic 7,944,212 7,884,771 7,904,911 7,885,901 Dilutive potential shares from unvested restricted shares — 43,335 — 36,841 Weighted average shares outstanding - diluted 7,944,212 7,928,106 7,904,911 7,922,742 Earnings (loss) per share: Basic $ (0.05) $ 0.12 $ (0.04) $ 0.64 Diluted $ (0.05) $ 0.12 $ (0.04) $ 0.64

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investment Balances	Investments carried at fair value are presented in the table below (in thousands): Cost Gross Gross Estimated June 30, 2022: U.S. Government and Government agency obligations $ 40,570 $ — $ (566) $ 40,004 Money market funds 6,016 — — 6,016 Equity funds 4,760 — (553) 4,207 Equities 1,295 — (45) 1,250 Exchange-traded bond funds 147 — (18) 129 Total trading securities 52,788 — (1,182) 51,606 Private investment fund 265 — (40) 225 Private equity 3,420 604 — 4,024 Total investments carried at fair value $ 56,473 $ 604 $ (1,222) $ 55,855 December 31, 2021: U.S. Government and Government agency obligations $ 39,926 $ — $ (491) $ 39,435 Money market funds 19,661 — — 19,661 Equity funds 4,135 158 (7) 4,286 Equities 1,296 206 — 1,502 Exchange-traded bond funds 140 — — 140 Total trading securities 65,158 364 (498) 65,024 Private investment fund 265 — (121) 144 Private equity 3,420 949 — 4,369 Total investments carried at fair value $ 68,843 $ 1,313 $ (619) $ 69,537

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]	The following table summarizes the values of our investments measured at fair value on a recurring basis within the fair value hierarchy as of the dates indicated (in thousands): Level 1 Level 2 Level 3 Investments Measured at NAV (1) Total As of June 30, 2022: Investments in trading securities $ 51,606 $ — $ — $ — $ 51,606 Private investment fund — — — 225 225 Private equity — — 4,024 — 4,024 Total assets measured at fair value $ 51,606 $ — $ 4,024 $ 225 $ 55,855 As of December 31, 2021: Investments in trading securities $ 65,024 $ — $ — $ — $ 65,024 Private investment fund — — — 144 144 Private equity — — 4,369 — 4,369 Total assets measured at fair value $ 65,024 $ — $ 4,369 $ 144 $ 69,537 (1) Comprised of certain investments measured at fair value using net asset value ("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 Condensed Consolidated Balance Sheets.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following table summarizes the changes in Level 3 investments measured at fair value on a recurring basis for the periods presented (in thousands): Fair Value using Significant Unobservable Inputs (Level 3) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Beginning balance $ 4,326 $ 3,872 $ 4,369 $ 3,431 Unrealized gains (losses) on private investments (302) 215 (345) 656 Ending balance $ 4,024 $ 4,087 $ 4,024 $ 4,087

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2022
Variable Interest Entities [Abstract]
Variable Interest Entities	The following table displays the AUM and the risk of loss in each vehicle (in millions): As of June 30, 2022 Assets Corporate Amount at Risk VIEs/VOEs: Westwood Funds® $ 2,570 $ — $ — Common Trust Funds 760 — — Private Funds 7 0.2 0.2 Private Equity — 8.5 8.5 All other assets: Wealth Management 2,909 Institutional 5,889 Total Assets Under Management $ 12,135

REVENUE Table (Tables)

REVENUE Table (Tables)	6 Months Ended
	Jun. 30, 2022
Disaggregation of Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents our revenue disaggregated by account type (in thousands). In 2021, we recast certain prior year revenues related to performance-based fees. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Advisory Fees: Institutional $ 6,632 $ 7,225 $ 13,681 $ 16,083 Mutual Funds 4,140 4,002 8,689 7,416 Wealth Management 208 158 400 295 Trust Fees 5,365 6,216 11,080 12,281 Other, net (742) (117) (1,031) (272) Total revenues $ 15,603 $ 17,484 $ 32,819 $ 35,803
Revenue Disaggregation by Geographic Location [Table Text Block]	The following table presents our revenue disaggregated by our clients' geographical locations (in thousands): Three Months Ended June 30, 2022 Advisory Trust Other Total Canada $ 303 $ — $ — $ 303 United States 10,677 5,365 (742) 15,300 Total $ 10,980 $ 5,365 $ (742) $ 15,603 Three Months Ended June 30, 2021 Advisory Trust Other Total Canada $ 297 $ — $ — $ 297 United States 11,088 6,216 (117) 17,187 Total $ 11,385 $ 6,216 $ (117) $ 17,484

LONG-TERM INCENTIVE COMPENSATIO

LONG-TERM INCENTIVE COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Stock Subject Only To A Service Condition Policy [Text Block]	Restricted Stock Subject Only to a Service Condition We calculate compensation cost for restricted stock grants by 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, with adjustments for forfeitures recorded as they occur.
Total Expense Recorded for Stock Based Compensation	The following table presents the total stock-based compensation expense recorded for stock-based compensation arrangements for the periods indicated (in thousands): Three Months Ended June 30, 2022 2021 Service condition stock-based compensation expense $ 1,283 $ 1,491 Performance condition stock-based compensation expense 97 231 Stock-based compensation expense under the Plan 1,380 1,722 Canadian Plan stock-based compensation expense — — Total stock-based compensation expense $ 1,380 $ 1,722
Restricted Stock Subject To Service And Performance Conditions Policy [Text Block]	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.
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 subject only to a service condition for the six months ended June 30, 2022: Shares Weighted Average Non-vested, January 1, 2020 396,598 $ 48.31 Granted 262,373 $ 27.39 Vested (140,974) $ 53.06 Forfeited (26,372) $ 39.72 Non-vested, June 30, 2022 491,625 $ 36.25
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 six months ended June 30, 2022: Shares Weighted Average Non-vested, January 1, 2020 80,975 $ 49.73 Vested (35,275) $ 55.11 Non-vested, June 30, 2022 45,700 $ 45.58

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	(in thousands) Advisory Trust Westwood Eliminations Consolidated Three Months Ended June 30, 2022 Net fee revenues from external sources $ 10,980 $ 5,365 $ — $ — $ 16,345 Net intersegment revenues 536 88 — (624) — Other, net (742) — — — (742) Total revenues $ 10,774 $ 5,453 $ — $ (624) $ 15,603 Segment assets $ 223,773 $ 52,105 $ 28,586 $ (174,539) $ 129,925 Segment goodwill $ — $ 16,401 $ — $ — $ 16,401 Three Months Ended June 30, 2021 Net fee revenues from external sources $ 11,385 $ 6,216 $ — $ — $ 17,601 Net intersegment revenues 624 87 — (711) — Other, net (117) — — — (117) Total revenues $ 11,892 $ 6,303 $ — $ (711) $ 17,484 Segment assets $ 211,651 $ 57,214 $ 12,458 $ (129,059) $ 152,264 Segment goodwill $ — $ 16,401 $ — $ — $ 16,401

DESCRIPTION OF THE BUSINESS (De

DESCRIPTION OF THE BUSINESS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Gain (Loss) on Disposition of Assets	$ 0	$ (148)
Payments to Acquire Businesses, Net of Cash Acquired	35,000
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Costs	$ 25,000

EARNINGS PER SHARE (Details Tex

EARNINGS PER SHARE (Details Textual) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive restricted shares	89	139	87	186

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Computation of Basic and Diluted Shares
Net Income (Loss) Attributable to Parent	$ (378)	$ 970	$ (328)	$ 5,071
Weighted average shares outstanding - basic (shares)	7,944,212	7,884,771	7,904,911	7,885,901
Dilutive potential shares from unvested restricted shares (shares)	0	43,335	0	36,841
Weighted average shares outstanding - diluted (shares)	7,944,212	7,928,106	7,904,911	7,922,742
Earnings per share:
Basic (dollars per share)	$ (0.05)	$ 0.12	$ (0.04)	$ 0.64
Diluted (dollars per share)	$ (0.05)	$ 0.12	$ (0.04)	$ 0.64

INVESTMENTS (Details)

INVESTMENTS (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	$ 52,788				$ 52,788		$ 65,158
Gross Unrealized Gains		$ 364			0
Gross Unrealized Losses		(498)			(1,182)
Debt Securities, Trading	51,606				51,606		65,024
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	56,473				56,473		68,843
Gross Unrealized Gains		1,313			604
Gross Unrealized Losses		(619)			(1,222)
Estimated Fair Value	55,855				55,855		69,537
Net change in unrealized appreciation (depreciation) on private investments	(299)	2,800	$ 215		(262)	$ (2,111)
Unrealized Gain on Securities			$ 200		(300)
Realized Investment Gains (Losses)		8,300		$ 46	(8,371)	8,371
Unrealized Loss on Securities						$ 700
Cost Method Investments	4,400				4,400
U.S. Government and Government agency obligations
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	40,570				40,570		39,926
Gross Unrealized Gains		0			0
Gross Unrealized Losses		(491)			(566)
Debt Securities, Trading	40,004				40,004		39,435
Money market funds
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	6,016				6,016		19,661
Gross Unrealized Gains		0			0
Gross Unrealized Losses		0			0
Debt Securities, Trading	6,016				6,016		19,661
Equity funds
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	4,760				4,760		4,135
Gross Unrealized Gains		158			0
Gross Unrealized Losses		(7)			(553)
Debt Securities, Trading	4,207				4,207		4,286
Private investment fund
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	265				265		265
Gross Unrealized Gains		0			0
Gross Unrealized Losses		(121)			(40)
Estimated Fair Value	225				225		144
Private equity
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	3,420				3,420		3,420
Gross Unrealized Gains		949			604
Gross Unrealized Losses		0			0
Estimated Fair Value	4,024				4,024		4,369
Equity Securities
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	1,295				1,295		1,296
Gross Unrealized Gains		206			0
Gross Unrealized Losses		0			(45)
Debt Securities, Trading	1,250				1,250		1,502
us-gaap_EquitySecuritiesMember [Member]
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	147				147		140
Gross Unrealized Gains		0			0
Gross Unrealized Losses		$ 0			(18)
Debt Securities, Trading	$ 129				$ 129		$ 140

INVESTMENTS (Details Textual)

INVESTMENTS (Details Textual) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Feb. 28, 2019	May 31, 2018
Schedule of Investments [Line Items]
Long-term Investments	$ 4,455				$ 4,455		$ 4,455	$ 300	$ 5,400
Estimated Fair Value	55,855				55,855		69,537
Unrealized Gain on Securities			$ 200		(300)
Gain (Loss) on Investments	0				0
Cost	52,788				52,788		65,158
Realized Investment Gains (Losses)		$ 8,300		$ 46	(8,371)	$ 8,371
Net change in unrealized appreciation (depreciation) on private investments	(299)	$ 2,800	$ 215		(262)	$ (2,111)
us-gaap_EquitySecuritiesMember [Member]
Schedule of Investments [Line Items]
Cost	$ 147				$ 147		$ 140

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Feb. 28, 2019 USD ($)	May 31, 2018 USD ($)
Investments in securities:
Investments in trading securities	$ 51,606,000		$ 51,606,000		$ 65,024,000
Total assets measured at fair value	55,855,000		55,855,000		69,537,000
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	4,326,000	$ 3,872,000	4,369,000	$ 3,431,000
Unrealized gains (losses) on private investments	(302,000)	215,000	(345,000)	656,000
Ending balance	$ 4,024,000	$ 4,087,000	$ 4,024,000	$ 4,087,000
Fair Value Inputs [Abstract] (Deprecated 2018-01-31)
Unobservable input -book value multiple - minimum | $ / shares	1.37		1.37
Unobservable input -book value multiple - maximum	1.86		1.86
Unobservable input -book value multiple - weighted average	1.46		1.46
Long-term Investments	$ 4,455,000		$ 4,455,000		4,455,000	$ 300,000	$ 5,400,000
Level 1
Investments in securities:
Investments in trading securities	51,606,000		51,606,000		65,024,000
Total assets measured at fair value	51,606,000		51,606,000		65,024,000
Level 2
Investments in securities:
Investments in trading securities	0		0		0
Total assets measured at fair value	0		0		0
Level 3
Investments in securities:
Investments in trading securities	0		0		0
Total assets measured at fair value	4,024,000		4,024,000		4,369,000
Investments Measured at NAV
Investments in securities:
Investments in trading securities	0		0		0
Total assets measured at fair value	225,000		225,000		144,000
Private investment fund
Investments in securities:
Private	225,000		225,000		144,000
Private investment fund | Level 1
Investments in securities:
Private	0		0		0
Private investment fund | Level 2
Investments in securities:
Private	0		0		0
Private investment fund | Level 3
Investments in securities:
Private	0		0		0
Private investment fund | Investments Measured at NAV
Investments in securities:
Private	225,000		225,000		144,000
Private equity
Investments in securities:
Private	4,024,000		4,024,000		4,369,000
Private equity | Level 1
Investments in securities:
Private	0		0		0
Private equity | Level 2
Investments in securities:
Private	0		0		0
Private equity | Level 3
Investments in securities:
Private	4,024,000		4,024,000		4,369,000
Private equity | Investments Measured at NAV
Investments in securities:
Private	$ 0		$ 0		$ 0

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of Intangible Assets (Excluding Goodwill)	$ 0	$ 0

STOCKHOLDERS' EQUITY Share Repu

STOCKHOLDERS' EQUITY Share Repurchase Program (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Equity [Abstract]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 3,200,000		$ 3,200,000
Stock Repurchased During Period, Shares	57,984
Treasury Stock Acquired, Average Cost Per Share	$ 14.29	$ 15.63	$ 14.65	$ 15.27
Stock Repurchased During Period, Value	$ 800,000
Stock Repurchased and Retired During Period, Shares		18,866	70,186	111,357
Treasury Stock, Value, Acquired, Par Value Method		$ 300,000	$ 1,000,000	$ 1,700,000
Purchases of treasury stock, shares	35,891
Treasury Stock, Value	$ 83,970,000		83,970,000		$ 81,750,000
Treasury Stock, Value, Acquired, Cost Method	1,394,000	$ 296	$ 1,594,000	$ 1,700
Share repurchase - openb market	600,000
Share repurchase - open market average price	$ 15.75

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 3,200,000		$ 3,200,000
Stock Repurchased During Period, Shares	57,984
Treasury Stock Acquired, Average Cost Per Share	$ 14.29	$ 15.63	$ 14.65	$ 15.27
Stock Repurchased During Period, Value	$ 800,000

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Variable Interest Entity [Line Items]
Estimated Fair Value	$ 55,855		$ 55,855		$ 69,537
Fee revenues from Westwood VIEs	5,100	$ 5,400	10,800	$ 10,300
Common Trust Funds
Variable Interest Entity [Line Items]
Estimated Fair Value	$ 0		$ 0

VARIABLE INTEREST ENTITIES (D_2

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Variable Interest Entities
Assets Under Management	$ 12,135,000
Estimated Fair Value	55,855	$ 69,537
Westwood Funds®
Variable Interest Entities
Assets Under Management	2,570,000
Estimated Fair Value	0
Amount at Risk	0
Common Trust Funds
Variable Interest Entities
Assets Under Management	760,000
Estimated Fair Value	0
Amount at Risk	0
Westwood Hospitality Fund I LLC [Member]
Variable Interest Entities
Assets Under Management	7,000
Estimated Fair Value	200
Amount at Risk	200
Private equity
Variable Interest Entities
Assets Under Management	0
Estimated Fair Value	8,500
Amount at Risk	8,500
Wealth Management
Variable Interest Entities
Assets Under Management	2,909,000
Institutional
Variable Interest Entities
Assets Under Management	$ 5,889,000

REVENUE Disaggregation of Reven

REVENUE Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax			REVENUE 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 such as gains and losses from our seed money investments into new investment strategies, which are included in “Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income (Loss). Advisory and trust fees are calculated based on a percentage of AUM and the performance obligation is realized over the current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment. Advisory Fee Revenues Our advisory fees are generated by Westwood Management which manages 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 Condensed 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 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 Condensed Consolidated Financial Statements contain no deferred advisory fee revenues. Revenue Disaggregated Sales taxes are excluded from revenues. The following table presents our revenue disaggregated by account type (in thousands). In 2021, we recast certain prior year revenues related to performance-based fees. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Advisory Fees: Institutional $ 6,632 $ 7,225 $ 13,681 $ 16,083 Mutual Funds 4,140 4,002 8,689 7,416 Wealth Management 208 158 400 295 Trust Fees 5,365 6,216 11,080 12,281 Other, net (742) (117) (1,031) (272) Total revenues $ 15,603 $ 17,484 $ 32,819 $ 35,803 We serve clients primarily in the United States, as well as in certain international locations. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands): Three Months Ended June 30, 2022 Advisory Trust Other Total Canada $ 303 $ — $ — $ 303 United States 10,677 5,365 (742) 15,300 Total $ 10,980 $ 5,365 $ (742) $ 15,603 Three Months Ended June 30, 2021 Advisory Trust Other Total Canada $ 297 $ — $ — $ 297 United States 11,088 6,216 (117) 17,187 Total $ 11,385 $ 6,216 $ (117) $ 17,484
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 15,603	$ 17,484	$ 32,819	$ 35,803
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax				900
Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	303	297	594	573
United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	15,300	17,187	32,225	34,330
Investment Advisory Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	10,980	11,385	22,770	21,845
Investment Advisory Services [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax				638
Investment Advisory Services [Member] | Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	303	297	594	573
Investment Advisory Services [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	10,677	11,088	22,176	20,634
Investment Advisory Services [Member] | Advisory
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	6,632	7,225		16,083	$ 13,681
Mutual Fund Advisory [Member] | Advisory
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,140	4,002	8,689	7,416
Private Wealth Advisory [Member] | Advisory
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	208	158	400	295
Performance-based fees [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax				1,949
Performance-based fees [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax				262
Performance-based fees [Member] | Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax				0
Performance-based fees [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax				1,687
Trust Fees [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5,365	6,216	11,080	12,281
Trust Fees [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax				0
Trust Fees [Member] | Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0	0
Trust Fees [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5,365	6,216	11,080	12,281
Trust Fees [Member] | Trust
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5,365	6,216	11,080	12,281
Other Revenue Misc Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(742)	(117)	(1,031)	(272)
Other Revenue Misc Services [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax				0
Other Revenue Misc Services [Member] | Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0	0
Other Revenue Misc Services [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(742)	(117)	(1,031)	(272)
Other Revenue Misc Services [Member] | Advisory
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ (742)	$ (117)	$ (1,031)	$ (272)

LONG-TERM INCENTIVE COMPENSAT_2

LONG-TERM INCENTIVE COMPENSATION (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount of shares purchased in the open market			$ 1,404,000	$ 1,700,000
Purchases of treasury stock, shares	35,891
Remaining unrecognized compensation cost recognized over a remaining weighted average period			2 years 6 months
Accrued liability	$ 50,000		$ 50,000		$ 79,000
Shares Issued, Shares, Share-based Payment Arrangement, Forfeited			56,625
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures			$ 1,300,000
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Anti-dilutive restricted shares	89,000	139,000	87,000	186,000
Mutual Fund [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expense related to mutual fund share incentive awards			$ 27,000	$ (100,000)
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)	5,398,100		5,398,100
Shares remain available for issuance	642,000		642,000
Remaining unrecognized compensation cost	$ 13,200,000		$ 13,200,000
Nonvested restricted shares	491,625		491,625		396,598
Expense related to mutual fund share incentive awards	$ 1,380,000	$ 1,722,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	350,000
Canadian Plan | Westwood International Advisors Inc
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount of shares purchased in the open market			$ 700,000
Purchases of treasury stock, shares			27,474
Mutual Fund Share Incentive Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service period of mutual fund share incentive award			3 years
Expense related to mutual fund share incentive awards	$ 9,000	$ 12,000

LONG-TERM INCENTIVE COMPENSAT_3

LONG-TERM INCENTIVE COMPENSATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
DomesticEmployeeServiceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 1,283	$ 1,491
Performance Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	97	231
DomesticServiceAndPerformanceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	1,380	1,722
CanadianEmployeeServiceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	0	0
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 1,380	$ 1,722

LONG-TERM INCENTIVE COMPENSAT_4

LONG-TERM INCENTIVE COMPENSATION (Details 1) - Restricted Shares Subject Only to a Service Condition	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Restricted shares subject only to a service condition:
Non-vested, beginning balance, shares | shares	396,598
Granted (shares) | shares	262,373
Vested (shares) | shares	(140,974)
Forfeited (shares) | shares	(26,372)
Non-vested, ending balance, shares | shares	491,625
Non-vested, beginning balance, (dollars per share) | $ / shares	$ 48.31
Granted (dollars per share) | $ / shares	27.39
Vested (dollars per share) | $ / shares	53.06
Forfeited (dollars per share) | $ / shares	39.72
Non-vested, ending balance, (dollars per share) | $ / shares	$ 36.25

LONG-TERM INCENTIVE COMPENSAT_5

LONG-TERM INCENTIVE COMPENSATION (Details 2) - Restricted Shares Subject to Service and Performance Conditions	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Restricted shares subject only to a service condition:
Non-vested, beginning balance, shares | shares	80,975
Vested (shares) | shares	(35,275)
Non-vested, ending balance, shares | shares	45,700
Non-vested, beginning balance, (dollars per share) | $ / shares	$ 49.73
Vested (dollars per share) | $ / shares	55.11
Non-vested, ending balance, (dollars per share) | $ / shares	$ 45.58

SEGMENT REPORTING (Details Text

SEGMENT REPORTING (Details Textual)	6 Months Ended
	Jun. 30, 2022 Segment
Segment Reporting [Abstract]
Number of operating segments	2

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net fee revenues from external sources	$ 16,345	$ 17,601	$ 33,850	$ 36,075
Net intersegment revenues	0	0	0	0
Other, net	(742)	(117)	(1,031)	(272)
Total revenues	15,603	17,484	32,819	35,803
Segment assets	129,925	152,264	129,925	152,264	$ 139,605
Goodwill	16,401	16,401	16,401	16,401	$ 16,401
Operating Segments | Advisory
Segment Reporting Information [Line Items]
Net fee revenues from external sources	10,980	11,385	22,770	23,794
Net intersegment revenues	536	624	1,113	1,300
Other, net	(742)	(117)	(1,031)	(272)
Total revenues	10,774	11,892	22,852	24,822
Segment assets	223,773	211,651	223,773	211,651
Goodwill	0	0	0	0
Operating Segments | Trust
Segment Reporting Information [Line Items]
Net fee revenues from external sources	5,365	6,216	11,080	12,281
Net intersegment revenues	88	87	178	168
Other, net	0	0	0	0
Total revenues	5,453	6,303	11,258	12,449
Segment assets	52,105	57,214	52,105	57,214
Goodwill	16,401	16,401	16,401	16,401
Westwood Holdings
Segment Reporting Information [Line Items]
Net fee revenues from external sources	0	0	0	0
Net intersegment revenues	0	0	0	0
Other, net	0	0	0	0
Total revenues	0	0	0	0
Segment assets	28,586	12,458	28,586	12,458
Goodwill	0	0	0	0
Eliminations
Segment Reporting Information [Line Items]
Net fee revenues from external sources	0	0	0	0
Net intersegment revenues	(624)	(711)	(1,291)	(1,468)
Other, net	0	0	0	0
Total revenues	(624)	(711)	(1,291)	(1,468)
Segment assets	(174,539)	(129,059)	(174,539)	(129,059)
Goodwill	$ 0	$ 0	$ 0	$ 0

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($)			1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 03, 2022	Dec. 03, 2021	Apr. 30, 2020	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Subsequent Event [Line Items]
Dividends declared per share (dollars per share)					$ 0.15	$ 0.1
Stock Repurchased During Period, Shares				57,984
Stock Repurchased During Period, Value				$ 800,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount				$ 3,200,000	$ 3,200,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared per share (dollars per share)			$ 0.15
Dividends payable, date to be paid	Oct. 01, 2022
Dividends payable, date of record		Sep. 02, 2022