Westwood (WHG) 10-Q 31 Jul 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 26, 2023
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	2024
Document Fiscal Period Focus	Q1
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		9,286,533
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, 2024

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Operating Lease, Liability, Current		$ 1,406,000	$ 1,286,000
Current Assets:
Cash and cash equivalents		23,770,000	20,422,000
Accounts receivable		14,324,000	14,394,000
Investments, at fair value		20,364,000	32,674,000
Income Taxes Receivable, Current		945,000	205,000
Other current assets		4,506,000	4,543,000
Total current assets		63,909,000	72,238,000
Long-term Investments		8,747,000	7,247,000
Long-term Investments Carried at Fair Value		1,825,000	241,000
Goodwill		39,501,000	39,501,000
Deferred income taxes		773,000	726,000
Operating lease right-of-use assets		3,127,000	3,673,000
Intangible assets, net		22,729,000	24,803,000
Property and equipment, net of accumulated depreciation of $8,180 and $10,078		1,144,000	1,444,000
Other long-term assets		1,041,000	1,010,000
Total assets		147,374,000	155,167,000
Current liabilities:
Accounts payable and accrued liabilities		5,312,000	6,130,000
Dividends payable		1,394,000	1,692,000
Compensation and benefits payable		5,322,000	9,539,000
Total current liabilities		13,434,000	18,647,000
Accrued dividends		782,000	675,000
Operating Lease, Liability, Noncurrent		2,516,000	3,266,000
Liabilities, Noncurrent	$ 13,474,000		14,074,000
Total liabilities		26,908,000	32,721,000
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.01 par value, authorized 25,000,000 shares, issued 12,174,073 and 11,856,737, respectively and outstanding 9,293,447 and 9,140,760, respectively		123,000	119,000
Additional paid-in capital		202,064,000	201,622,000
Treasury stock, at cost – 2,880,626 and 2,715,977, respectively		(88,005,000)	(85,990,000)
Retained earnings		4,339,000	4,650,000
Total Westwood Holdings Group, Inc. stockholders’ equity		118,521,000	120,401,000
Stockholders' Equity, Total		120,466,000	122,446,000
Total liabilities and stockholders' equity		147,374,000	155,167,000
Equity Method Investments		4,578,000	4,284,000
Total long-term assets		83,465,000	82,929,000
Asset Acquisition, Contingent Consideration, Liability		10,176,000	10,133,000
Members' Equity Attributable to Noncontrolling Interest		$ 1,945,000	$ 2,045,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
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	$ 1,825	$ 241

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ (2,213)	$ 2,899	$ (47)	$ 3,613
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Nonredeemable	30	4	(100)	25
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized	0	0	0	209
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(2,243)	2,895	53	3,588
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(2,213)	2,899	(47)	3,613
REVENUES:
Other Revenue, Net	322	122	1,124	230
Total revenues	22,688	21,945	45,420	44,672
EXPENSES:
Employee compensation and benefits	13,638	13,688	28,349	27,890
Sales and marketing	755	764	1,383	1,504
Westwood mutual funds	855	746	1,576	1,478
Information technology	2,350	2,566	4,640	4,949
Professional services	1,450	1,355	2,939	2,884
General and administrative	3,011	3,235	5,912	6,281
Foreign Currency Transaction Gain (Loss), before Tax	4,807	(4,078)	1,858	(5,138)
Total expenses	26,866	18,276	46,657	40,057
Operating Income (Loss)	(4,178)	3,669	(1,237)	4,615
Net change in unrealized appreciation (depreciation) on private investments	0	24	0	24
Gain on sale of operations			1,003	383
Other Income	224	239	409	611
Income before income taxes	(3,406)	4,143	175	5,633
Income tax provision	(1,193)	1,244	222	2,020
Other comprehensive income (loss):
Total comprehensive income (loss)	$ (2,243)	$ 2,895	$ 53	$ 3,588
Earnings per share:
Basic (dollars per share)	$ (0.27)	$ 0.36	$ 0.01	$ 0.45
Diluted (dollars per share)	$ (0.27)	$ 0.36	$ 0.01	$ 0.45
Weighted average shares outstanding:
Basic (shares)	8,218,596	7,991,228	8,158,812	7,922,954
Diluted (shares)	8,218,596	8,131,333	8,438,431	8,050,298
Investment Income, Investment Expense			$ 548	$ 211
Asset Management [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 17,139	$ 16,799	33,956	33,832
Investment Performance [Member]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0	555
Fiduciary and Trust [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 5,227	$ 5,024	$ 10,340	$ 10,055

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]	Noncontrolling Interest
BALANCE at Dec. 31, 2022	$ 110,648,000	$ 115,000	$ 199,914,000	$ (85,128,000)	$ (4,253,000)
BALANCE, shares at Dec. 31, 2022		8,881,831,000
Net Income (Loss) Attributable to Parent	3,588,000
Issuance of restricted stock, net of forfeitures, shares		368,682,000
Dividends declared	(2,691,000)				(294,000)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,372,000		3,372,000
Restricted stock returned for payment of taxes, shares		(67,743,000)
BALANCE at Jun. 30, 2023	115,099,000	$ 119,000	200,885,000	(85,965,000)	(959,000)	$ 1,019,000
BALANCE, shares at Jun. 30, 2023		9,182,770,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	3,613,000
Net Income (Loss) Attributable to Noncontrolling Interest	25,000				1,015,000
Noncontrolling Interest, Increase from Business Combination	994,000
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	837,000			837,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 4,000	(4,000)
BALANCE at Dec. 31, 2022	110,648,000	$ 115,000	199,914,000	(85,128,000)	(4,253,000)
BALANCE, shares at Dec. 31, 2022		8,881,831,000
BALANCE at Dec. 31, 2023	$ 120,401,000	$ 119,000	201,622,000	(85,990,000)	4,650,000
BALANCE, shares at Dec. 31, 2023	8,904,902	9,140,760
Net Income (Loss) Attributable to Noncontrolling Interest					2,045,000
BALANCE at Mar. 31, 2023		$ 119,000	200,453,000	(85,965,000)	(3,752,000)
BALANCE, shares at Mar. 31, 2023		9,212,390,000
Net Income (Loss) Attributable to Parent	$ 2,895,000
Issuance of restricted stock, net of forfeitures, shares		(29,620,000)
Dividends declared	(1,294,000)		(1,192,000)		(102,000)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,624,000		1,624,000
BALANCE at Jun. 30, 2023	115,099,000	$ 119,000	200,885,000	(85,965,000)	(959,000)	1,019,000
BALANCE, shares at Jun. 30, 2023		9,182,770,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	2,899,000
Net Income (Loss) Attributable to Noncontrolling Interest	4,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures		$ 0	0
BALANCE at Dec. 31, 2023	$ 120,401,000	$ 119,000	201,622,000	(85,990,000)	4,650,000
BALANCE, shares at Dec. 31, 2023	8,904,902	9,140,760
BALANCE at Mar. 31, 2024	$ 123,755,000	$ 122,000	201,899,000	(86,930,000)	6,749,000
BALANCE, shares at Mar. 31, 2024		9,330,762
Net Income (Loss) Attributable to Noncontrolling Interest					1,915,000
BALANCE at Dec. 31, 2023	$ 120,401,000	$ 119,000	201,622,000	(85,990,000)	4,650,000
BALANCE, shares at Dec. 31, 2023	8,904,902	9,140,760
Net Income (Loss) Attributable to Parent	$ 53,000
Issuance of restricted stock, net of forfeitures, shares		317,336
Dividends declared	(2,830,000)				(364,000)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,912,000		2,912,000
Purchases of treasury stock, shares		(86,346)
Restricted stock returned for payment of taxes, shares		(78,303)
BALANCE at Jun. 30, 2024	$ 118,521,000	$ 123,000	202,064,000	(88,005,000)	4,339,000	1,945,000
BALANCE, shares at Jun. 30, 2024	8,906,152	9,293,447
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (47,000)
Net Income (Loss) Attributable to Noncontrolling Interest	(100,000)
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	940,000			940,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 4,000	(4,000)
Treasury Stock, Value, Acquired, Cost Method	1,075,000			1,075,000
BALANCE at Mar. 31, 2024	123,755,000	$ 122,000	201,899,000	(86,930,000)	6,749,000
BALANCE, shares at Mar. 31, 2024		9,330,762
Net Income (Loss) Attributable to Parent	(2,243,000)
Issuance of restricted stock, net of forfeitures, shares		49,031
Dividends declared	(1,398,000)		(1,231,000)		(167,000)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,397,000		1,397,000
Purchases of treasury stock, shares		(86,346)
BALANCE at Jun. 30, 2024	$ 118,521,000	$ 123,000	202,064,000	(88,005,000)	$ 4,339,000	$ 1,945,000
BALANCE, shares at Jun. 30, 2024	8,906,152	9,293,447
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (2,213,000)
Net Income (Loss) Attributable to Noncontrolling Interest	30,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures		$ 1,000	$ (1,000)
Treasury Stock, Value, Acquired, Cost Method	1,075,000			$ 1,075,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 120,466,000

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (dollars per share)	$ 0.15	$ 0.15

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) Attributable to Parent	$ 53	$ 3,588
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	326	346
Amortization of intangible assets	2,074	2,063
Net change in unrealized (appreciation) depreciation on investments	(1,004)	(499)
Stock-based compensation expense	2,912	3,372
Deferred income taxes	(47)	228
Non-cash lease expense	546	630
Gain (Loss) on Disposition of Assets	0	69
Change in operating assets and liabilities:
Net (purchases) sales of trading securities	11,430	(7,083)
Accounts receivable	70	919
Other current assets	2	1,141
Accounts payable and accrued liabilities	(814)	(796)
Compensation and benefits payable	(4,217)	(3,345)
Income taxes payable	(740)	1,490
Other liabilities	(664)	(793)
Net Cash Provided by (Used in) Operating Activities	11,685	(3,902)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(24)	(97)
Payments to Acquire Intangible Assets	(1,500)	0
Net Cash Provided by (Used in) Investing Activities	(1,524)	(838)
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchases of treasury stock	(1,075)	0
Restricted stock returned for payment of taxes	(940)	(837)
Payment for Contingent Consideration Liability, Financing Activities	(1,815)
Cash dividends paid	(2,983)	(3,053)
Net Cash Provided by (Used in) Financing Activities	(6,813)	(3,890)
NET CHANGE IN CASH AND CASH EQUIVALENTS	3,348	(8,630)
Cash and cash equivalents, beginning of period	20,422	23,859
Cash and cash equivalents, end of period	23,770	15,229
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for income taxes	1,008	300
Accrued dividends	2,176	2,065
Long-term Investments	8,747
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	53	3,588
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	1,858	(5,138)
Payments to Acquire Businesses, Net of Cash Acquired	0	(741)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(47)	3,613
RouAssetsAndLeaseLiabilityRemeasurementAdjustment	$ 0	$ (119)

DESCRIPTION OF THE BUSINESS

DESCRIPTION OF THE BUSINESS	6 Months Ended
	Jun. 30, 2024
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., Westwood Advisors, L.L.C. and Salient Advisors, L.P. (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") and 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 adviser 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, 2024
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, 2023. 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, 2024
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 investments in InvestCloud, Vista and Texas Stock Exchange, discussed in Note 6 “Investments,” are excluded from the recurring fair value table shown below because we have elected to apply the measurement alternative for those investments. 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, 2024: Investments in trading securities $ 20,364 $ — $ — $ — $ 20,364 Private investment funds — — — 1,825 1,825 Total assets measured at fair value $ 20,364 $ — $ — $ 1,825 $ 22,189 Salient Acquisition contingent consideration — — 10,176 — 10,176 Total liabilities measured at fair value $ — $ — $ 10,176 $ — $ 10,176 As of December 31, 2023: Investments in trading securities $ 32,674 $ — $ — $ — $ 32,674 Private investment fund — — — 241 241 Total assets measured at fair value $ 32,674 $ — $ — $ 241 $ 32,915 Salient Acquisition contingent consideration — — 10,133 — 10,133 Total liabilities measured at fair value $ — $ — $ 10,133 $ — $ 10,133 (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 Condensed Consolidated Balance Sheets. Prior to our exchange of Charis shares for shares in Vista in 2023, our investment in Charis was included within Level 3 of the fair value hierarchy as we valued it utilizing inputs not observable in the market. Historically, our investment was measured at fair value on a recurring basis using a market approach based on either a price to tangible book value multiple range determined to be reasonable in the current environment, or on market transactions. On April 3, 2023, Charis was acquired by Vista in a transaction in which the Company exchanged its shares in Charis for shares in Vista. 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, 2023 Six Months Ended June 30, 2023 Beginning balance $ 2,792 $ 2,792 Exchange of shares (2,792) (2,792) Ending balance $ — $ — The following table summarizes the changes in Level 3 liabilities 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, 2024 2023 2024 2023 Beginning balance $ 7,184 $ 11,841 $ 10,133 $ 12,901 Payments (1,815) — $ (1,815) — Total (gains) losses included in earnings 4,807 (4,078) 1,858 (5,138) Ending balance $ 10,176 $ 7,763 $ 10,176 $ 7,763

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
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 liabilities at the date of acquisition. Goodwill is not amortized but is reviewed for impairment annually, or between annual assessments if a triggering event occurs or circumstances change that would more likely than not result in the fair value of a reporting unit below its carrying amount. We completed our most recent annual goodwill impairment assessment during the third quarter of 2023 and determined that no goodwill impairment related to the Advisory or Trust segment was required. There was no goodwill impairment during the three and six months ended June 30, 2024 or June 30, 2023. Changes in goodwill were as follows (in thousands): Trust Segment Advisory Segment Total Balance at December 31, 2023 $ 16,401 $ 23,100 $ 39,501 Balance at June 30, 2024 $ 16,401 $ 23,100 $ 39,501 Trust Segment Advisory Segment Total Balance at December 31, 2022 $ 16,401 $ 19,331 $ 35,732 Salient Acquisition adjustment 1 — (428) (428) Broadmark Acquisition — 4,197 4,197 Balance at June 30, 2023 $ 16,401 $ 23,100 $ 39,501 1 Represents subsequent purchase price adjustments for the Salient Acquisition. Other Intangible Assets

REVENUE (Notes)

REVENUE (Notes)	6 Months Ended
	Jun. 30, 2024
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. The "Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income (Loss) are the unrealized gains and losses on our seed money investments, and our seed money investments are included in "Investments, at fair value" on our Condensed Consolidated Balance Sheets. Advisory and trust fees are calculated based on a percentage of AUM or AUA, as applicable, 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 for managing client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and AUA 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) sub-advisory 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 suite of 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. Performance-based fees are paid after the performance obligation has been satisfied. The revenue is based on future market performance and is subject to many 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 fee revenues. Revenue Disaggregated The following table presents our revenue disaggregated by account type (in thousands). Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Advisory Fees: Institutional $ 9,718 $ 9,443 $ 19,189 $ 19,046 Mutual Funds 6,856 7,093 13,767 14,279 Wealth Management 565 263 1,000 507 Performance-based — — — 555 Trust Fees 5,227 5,024 10,340 10,055 Other, net 322 122 1,124 230 Total revenues $ 22,688 $ 21,945 $ 45,420 $ 44,672 We have clients in various locations around the world. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands): Three Months Ended June 30, 2024 Advisory Trust Other Total Canada $ 260 $ — $ — $ 260 United States 16,879 5,227 322 22,428 Total $ 17,139 $ 5,227 $ 322 $ 22,688 Three Months Ended June 30, 2023 Advisory Trust Other Total Canada $ 276 $ — $ — $ 276 United States 16,523 5,024 122 21,669 Total $ 16,799 $ 5,024 $ 122 $ 21,945

INCOME TAXES (Notes)

INCOME TAXES (Notes)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	INCOME TAXES Our effective income tax rate differed from the 21% statutory rate for the three and six months ended June 30, 2024 and 2023 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, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company engages in transactions with its affiliates in the ordinary course of business. Westwood Management provides investment advisory services to the Westwood Funds®. Under the terms of the investment advisory agreements, the Company earns quarterly fees paid by clients of the fund or by the funds directly. The fees are based on negotiated fee schedules applied to AUM. For the three and six months ended June 30, 2024 and June 30, 2023, the Company earned immaterial fees from the affiliated funds.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2024
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. 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) sub-advisory 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. Salient and Westwood Management, which provide investment advisory services to similar clients, are included in our Advisory segment. 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 Eliminations Consolidated Three Months Ended June 30, 2024 Net fee revenues from external sources $ 17,139 $ 5,227 $ — $ — $ 22,366 Net intersegment revenues $ 1,448 $ 55 $ — $ (1,503) $ — Other, net $ 322 $ — $ — $ — $ 322 Total revenues $ 18,909 $ 5,282 $ — $ (1,503) $ 22,688 Segment assets $ 286,921 $ 46,553 $ 13,465 $ (199,565) $ 147,374 Segment goodwill $ 23,100 $ 16,401 $ — $ — $ 39,501 Segment equity-method investments $ 4,578 $ — $ — $ — $ 4,578 Segment expenditures for long-lived assets $ 1 $ 1 $ 22 $ — $ 24 Three Months Ended June 30, 2023 Net fee revenues from external sources $ 16,799 $ 5,024 $ — $ — $ 21,823 Net intersegment revenues $ 1,587 $ 77 $ — $ (1,664) $ — Other, net $ 122 $ — $ — $ — $ 122 Total revenues $ 18,508 $ 5,101 $ — $ (1,664) $ 21,945 Segment assets $ 268,184 $ 44,412 $ 14,831 $ (185,322) $ 142,105 Segment goodwill $ 23,100 $ 16,401 $ — $ — $ 39,501 Segment equity-method investments $ 4,180 $ — $ — $ — $ 4,180 Segment expenditures for long-lived assets $ 31 $ 14 $ 52 $ — $ 97

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2024
Subsequent Event [Line Items]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
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. The "Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income (Loss) are the unrealized gains and losses on our seed money investments, and our seed money investments are included in "Investments, at fair value" on our Condensed Consolidated Balance Sheets. Advisory and trust fees are calculated based on a percentage of AUM or AUA, as applicable, 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 for managing client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and AUA 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) sub-advisory 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 suite of 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. Performance-based fees are paid after the performance obligation has been satisfied. The revenue is based on future market performance and is subject to many 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 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, 2023. 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, 2024
Earnings Per Share [Abstract]
Earnings Per Share, Policy [Policy Text Block]	Basic earnings (loss) per common share is computed by dividing comprehensive income (loss) attributable to Westwood Holdings Group, Inc. by the weighted average number of shares outstanding for the applicable period. Diluted earnings (loss) 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.

REVENUE Policies (Policies)

REVENUE Policies (Policies)	6 Months Ended
	Jun. 30, 2024
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. The "Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income (Loss) are the unrealized gains and losses on our seed money investments, and our seed money investments are included in "Investments, at fair value" on our Condensed Consolidated Balance Sheets. Advisory and trust fees are calculated based on a percentage of AUM or AUA, as applicable, 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 for managing client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and AUA 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) sub-advisory 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 suite of 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. Performance-based fees are paid after the performance obligation has been satisfied. The revenue is based on future market performance and is subject to many 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 fee revenues.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share and share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Comprehensive income (loss) attributable to Westwood Holdings Group, Inc. $ (2,243) $ 2,895 $ 53 $ 3,588 Weighted average shares outstanding - basic 8,218,596 7,991,228 8,158,812 7,922,954 Dilutive potential shares from unvested restricted shares — 140,105 279,619 127,344 Weighted average shares outstanding - diluted 8,218,596 8,131,333 8,438,431 8,050,298 Earnings (loss) per share: Basic $ (0.27) $ 0.36 $ 0.01 $ 0.45 Diluted $ (0.27) $ 0.36 $ 0.01 $ 0.45

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024: U.S. Government securities $ 12,653 $ 233 $ (66) $ 12,820 Money market funds 4,293 138 — 4,431 Equity funds 1,507 265 (123) 1,649 Exchange-traded funds 1,200 — — 1,200 Equities 169 57 (108) 118 Exchange-traded bond funds 149 — (3) 146 Total trading securities 19,971 693 (300) 20,364 Private investment funds 1,450 399 (24) 1,825 Total investments carried at fair value $ 21,421 $ 1,092 $ (324) $ 22,189 December 31, 2023: U.S. Government securities $ 22,522 $ 14 $ (75) $ 22,461 Money market funds 5,367 111 — 5,478 Equity funds 4,295 195 (260) 4,230 Equities 381 — (24) 357 Exchange-traded bond funds 152 — (4) 148 Total trading securities 32,717 320 (363) 32,674 Private investment fund 265 7 (31) 241 Total investments carried at fair value $ 32,982 $ 327 $ (394) $ 32,915

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024: Investments in trading securities $ 20,364 $ — $ — $ — $ 20,364 Private investment funds — — — 1,825 1,825 Total assets measured at fair value $ 20,364 $ — $ — $ 1,825 $ 22,189 Salient Acquisition contingent consideration — — 10,176 — 10,176 Total liabilities measured at fair value $ — $ — $ 10,176 $ — $ 10,176 As of December 31, 2023: Investments in trading securities $ 32,674 $ — $ — $ — $ 32,674 Private investment fund — — — 241 241 Total assets measured at fair value $ 32,674 $ — $ — $ 241 $ 32,915 Salient Acquisition contingent consideration — — 10,133 — 10,133 Total liabilities measured at fair value $ — $ — $ 10,133 $ — $ 10,133 (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 Condensed Consolidated Balance Sheets.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Fair Value using Significant Unobservable Inputs (Level 3) Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Beginning balance $ 2,792 $ 2,792 Exchange of shares (2,792) (2,792) Ending balance $ — $ — The following table summarizes the changes in Level 3 liabilities 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, 2024 2023 2024 2023 Beginning balance $ 7,184 $ 11,841 $ 10,133 $ 12,901 Payments (1,815) — $ (1,815) — Total (gains) losses included in earnings 4,807 (4,078) 1,858 (5,138) Ending balance $ 10,176 $ 7,763 $ 10,176 $ 7,763

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 Assets Corporate Amount at Risk VIEs/VOEs: Westwood Funds® $ 3,943 Common Trust Funds 696 Private Funds 83 0.2 0.2 Private Equity — 7.8 7.8 All other assets: Wealth Management 3,467 Institutional 7,587 Total Assets Under Management $ 15,776

REVENUE Table (Tables)

REVENUE Table (Tables)	6 Months Ended
	Jun. 30, 2024
Disaggregation of Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents our revenue disaggregated by account type (in thousands). Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Advisory Fees: Institutional $ 9,718 $ 9,443 $ 19,189 $ 19,046 Mutual Funds 6,856 7,093 13,767 14,279 Wealth Management 565 263 1,000 507 Performance-based — — — 555 Trust Fees 5,227 5,024 10,340 10,055 Other, net 322 122 1,124 230 Total revenues $ 22,688 $ 21,945 $ 45,420 $ 44,672
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, 2024 Advisory Trust Other Total Canada $ 260 $ — $ — $ 260 United States 16,879 5,227 322 22,428 Total $ 17,139 $ 5,227 $ 322 $ 22,688 Three Months Ended June 30, 2023 Advisory Trust Other Total Canada $ 276 $ — $ — $ 276 United States 16,523 5,024 122 21,669 Total $ 16,799 $ 5,024 $ 122 $ 21,945

LONG-TERM INCENTIVE COMPENSATIO

LONG-TERM INCENTIVE COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 2023 Service condition stock-based compensation expense $ 1,283 Performance condition stock-based compensation expense 97 Stock-based compensation expense under the Plan — 1,380 Canadian Plan stock-based compensation expense — — Total stock-based compensation expense $ — $ 1,380
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, 2024: 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, 2024 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, 2024: Shares Weighted Average Non-vested, January 1, 2020 80,975 $ 49.73 Vested (35,275) $ 55.11 Non-vested, June 30, 2024 45,700 $ 45.58

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 Net fee revenues from external sources $ 17,139 $ 5,227 $ — $ — $ 22,366 Net intersegment revenues $ 1,448 $ 55 $ — $ (1,503) $ — Other, net $ 322 $ — $ — $ — $ 322 Total revenues $ 18,909 $ 5,282 $ — $ (1,503) $ 22,688 Segment assets $ 286,921 $ 46,553 $ 13,465 $ (199,565) $ 147,374 Segment goodwill $ 23,100 $ 16,401 $ — $ — $ 39,501 Segment equity-method investments $ 4,578 $ — $ — $ — $ 4,578 Segment expenditures for long-lived assets $ 1 $ 1 $ 22 $ — $ 24 Three Months Ended June 30, 2023 Net fee revenues from external sources $ 16,799 $ 5,024 $ — $ — $ 21,823 Net intersegment revenues $ 1,587 $ 77 $ — $ (1,664) $ — Other, net $ 122 $ — $ — $ — $ 122 Total revenues $ 18,508 $ 5,101 $ — $ (1,664) $ 21,945 Segment assets $ 268,184 $ 44,412 $ 14,831 $ (185,322) $ 142,105 Segment goodwill $ 23,100 $ 16,401 $ — $ — $ 39,501 Segment equity-method investments $ 4,180 $ — $ — $ — $ 4,180 Segment expenditures for long-lived assets $ 31 $ 14 $ 52 $ — $ 97

DESCRIPTION OF THE BUSINESS (De

DESCRIPTION OF THE BUSINESS (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Gain (Loss) on Disposition of Assets	$ 0	$ 69,000
Payments to Acquire Businesses, Net of Cash Acquired	0	$ (741,000)
Business Combination, Consideration Transferred	1,168,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage			32%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value	0.48
Other Noncontrolling Interests			$ 0.32
Asset Acquisition, Consideration Transferred	1,200,000
Subsidiary, Ownership Percentage, Noncontrolling Owner			80%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage			80%
Business Combination Consideration Transferred - Broadmark	1,200,000
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value				$ 2,400,000
Business Combination Consideration Transferred Gross- Broadmark	$ 1,600,000
Nonredeemable Noncontrolling Interest			$ 1,000,000

EARNINGS PER SHARE (Details Tex

EARNINGS PER SHARE (Details Textual) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive restricted shares	6	106	13	108

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Computation of Basic and Diluted Shares
Net Income (Loss) Attributable to Parent	$ (2,243)	$ 2,895	$ 53	$ 3,588
Weighted average shares outstanding - basic (shares)	8,218,596	7,991,228	8,158,812	7,922,954
Dilutive potential shares from unvested restricted shares (shares)	0	140,105	279,619	127,344
Weighted average shares outstanding - diluted (shares)	8,218,596	8,131,333	8,438,431	8,050,298
Earnings per share:
Basic (dollars per share)	$ (0.27)	$ 0.36	$ 0.01	$ 0.45
Diluted (dollars per share)	$ (0.27)	$ 0.36	$ 0.01	$ 0.45
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ (2,243)	$ 2,895	$ 53	$ 3,588

INVESTMENTS (Details)

INVESTMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Net change in unrealized appreciation (depreciation) on private investments	$ 0	$ 24	$ 0	$ 24
Cost Method Investments	4,400		4,400
Cost	19,971		19,971		$ 32,717
Gross Unrealized Gains		320	693
Debt Securities, Trading, Unrealized Loss		(363)	(300)
Investments in trading securities	20,364		20,364		32,674
Cost	21,421		21,421		32,982
Gross Unrealized Gains		327	1,092
Debt Securities, Trading, and Equity Securities, Unrealized Loss		(394)	(324)
Estimated Fair Value	22,189		22,189		32,915
Long-term Investments	8,747		8,747		7,247
Long-term Investments Carried at Fair Value	1,825		1,825		241
Long-term Investments Carried at Fair Value using NAV	300		300
Equity Method Investments	$ 4,578	4,180	$ 4,578	$ 4,180	$ 4,284
Zarvona Energy Fund GP , L.P .
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investment, Ownership Percentage	50%		50%		50%
Equity Method Investments	$ 3,859		$ 3,859		$ 3,565
Zarvona Energy Fund II-A, L.P .
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investment, Ownership Percentage	0.50%		0.50%		0.50%
Equity Method Investments	$ 700		$ 700		$ 700
Salient MLP Total Return Fund, L.P. [Domain]
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investment, Ownership Percentage	0%		0%		0%
Equity Method Investments	$ 11		$ 11		$ 11
Salient MLP Total Return TE Fund, L.P.
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investment, Ownership Percentage	0.20%		0.20%		0.20%
Equity Method Investments	$ 8		$ 8		$ 8
Total
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investments	4,578		4,578		4,284
U.S. Government securities
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	12,653		12,653		22,522
Gross Unrealized Gains		14	233
Debt Securities, Trading, Unrealized Loss		(75)	(66)
Investments in trading securities	12,820		12,820		22,461
Money market funds
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	4,293		4,293		5,367
Gross Unrealized Gains		111	138
Debt Securities, Trading, Unrealized Loss		0	0
Investments in trading securities	4,431		4,431		5,478
Equity funds
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	1,507		1,507		4,295
Gross Unrealized Gains		195	265
Debt Securities, Trading, Unrealized Loss		(260)	(123)
Investments in trading securities	1,649		1,649		4,230
Equity Securities
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	169		169		381
Gross Unrealized Gains		0	57
Debt Securities, Trading, Unrealized Loss		(24)	(108)
Investments in trading securities	118		118		357
us-gaap_EquitySecuritiesMember [Member]
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	149		149		152
Gross Unrealized Gains		0	0
Debt Securities, Trading, Unrealized Loss		(4)	(3)
Investments in trading securities	146		146		148
Private investment funds
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	1,450		1,450		265
Gross Unrealized Gains		7	399
Equity Securities, FV-NI, Unrealized Loss		$ (31)	(24)
Estimated Fair Value	1,825		1,825		$ 241
Exchange Traded Funds
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	1,200		1,200
Gross Unrealized Gains			0
Debt Securities, Trading, Unrealized Loss			0
Investments in trading securities	$ 1,200		$ 1,200

INVESTMENTS (Details Textual)

INVESTMENTS (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Long-term Investments	$ 8,747		$ 8,747			$ 7,247
Estimated Fair Value	22,189		22,189			32,915
Cost	19,971		19,971			32,717
Cost Method Investments	4,400		4,400
Long-term Investments Carried at Fair Value using NAV	300		300
Carrying value - private investment					$ 4,400
Investment carrying value - Vista					$ 2,800
Carrying value - private investment, Tx Stock Exchange	1,500		1,500
Carrying value - private investment funds	1,000		1,000
Net change in unrealized appreciation (depreciation) on private investments	0	$ 24	0	$ 24
us-gaap_EquitySecuritiesMember [Member]
Schedule of Investments [Line Items]
Cost	$ 149		$ 149			$ 152

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Investments in securities:
Investments in trading securities	$ 20,364,000		$ 20,364,000			$ 32,674,000
Total assets measured at fair value	22,189,000		22,189,000			32,915,000
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		$ 2,792,000		$ 2,792,000
Ending balance		0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales		(2,792,000)		(2,792,000)
Fair Value Inputs [Abstract] (Deprecated 2018-01-31)
Long-term Investments	8,747,000		8,747,000			7,247,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	10,176,000	7,763,000	10,176,000	7,763,000	$ 7,184,000	10,133,000	$ 11,841,000	$ 12,901,000
Payment for Contingent Consideration Liability, Financing Activities	(1,815,000)		(1,815,000)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	$ 4,807,000	$ (4,078,000)	$ 1,858,000	$ (5,138,000)
Unobservable input - revenue retention discount rate - maximum	true	true	true	true
Unobservable input - revenue retention discount rate - weighted average	true	true	true	true
Unobservable input - revenue retention discount rate - minimum	true	true	true	true
Unobservable input - revenue retention volatility - weighted average	true	true	true	true
Unobservable input - revenue retention volatility - maximum	true	true	true	true
Unobservable input - revenue retention volatility - minimum	true	true	true	true
Unobservable input - growth discount rate - weighted average	true	true	true	true
Unobservable input - growth discount rate - maximum	true	true	true	true
Unobservable input - growth discount rate - minimum	true	true	true	true
Unobservable input - growth volatility - weighted average	true	true	true	true
Unobservable input - growth volatility - maximum	true	true	true	true
Unobservable input - growth volatility - minimum	true	true	true	true
Asset Acquisition, Consideration Transferred, Contingent Consideration			$ 10,200,000
Level 1
Investments in securities:
Investments in trading securities	$ 20,364,000		20,364,000			32,674,000
Total assets measured at fair value	20,364,000		20,364,000			32,674,000
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	$ 0		$ 0			$ 0
Asset Acquisition, Consideration Transferred, Contingent Consideration	Level 3		Level 3			Level 3
Other Liabilities, Fair Value Disclosure	$ 10,176,000		$ 10,176,000			$ 10,133,000
Investments Measured at NAV
Investments in securities:
Investments in trading securities	0		0			0
Total assets measured at fair value	$ 1,825,000		$ 1,825,000			$ 241,000
Fair Value, Recurring
Investments in securities:
Asset Acquisition, Consideration Transferred, Contingent Consideration	Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member]		Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member]			Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member]
Private investment funds
Investments in securities:
Private	$ 1,825,000		$ 1,825,000			$ 241,000
Private investment funds | Level 1
Investments in securities:
Private	0		0			0
Private investment funds | Level 2
Investments in securities:
Private	0		0			0
Private investment funds | Level 3
Investments in securities:
Private	0		0			0
Private investment funds | Investments Measured at NAV
Investments in securities:
Private	$ 1,825,000		$ 1,825,000			$ 241,000

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of Intangible Assets (Excluding Goodwill)	$ 0	$ 0
Goodwill	39,501,000	39,501,000	$ 39,501,000
Goodwill, Purchase Accounting Adjustments		(428,000)
Goodwill [Line Items]
Trust Segment Goodwill	16,401,000	16,401,000	16,401,000	$ 16,401,000
Advisory Segment Goodwill	23,100,000	23,100,000	23,100,000	19,331,000
Balance at December 31, 2021	39,501,000	39,501,000	$ 39,501,000	$ 35,732,000
Goodwill, Acquired During Period	$ 4,197,000	4,197,000
Acquired Goodwill - Total		4,197,000
Goodwill, Purchase Accounting Adjustments		(428,000)
Goodwill Adjustments - Total		$ (428,000)

STOCKHOLDERS' EQUITY Share Repu

STOCKHOLDERS' EQUITY Share Repurchase Program (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Equity [Abstract]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 800,000	$ 800,000
Stock Repurchased During Period, Shares	86,346
Treasury Stock Acquired, Average Cost Per Share	$ 12.45
Stock Repurchased During Period, Value	$ 1,100,000
Treasury Stock, Value	88,005,000	88,005,000	$ 85,990,000
Treasury Stock, Value, Acquired, Cost Method	$ 1,075,000	$ 1,075,000

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details)	3 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 800,000
Stock Repurchased During Period, Shares | shares	86,346
Treasury Stock Acquired, Average Cost Per Share | $ / shares	$ 12.45
Stock Repurchased During Period, Value	$ 1,100,000

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Variable Interest Entity [Line Items]
Estimated Fair Value	$ 22,189		$ 22,189		$ 32,915
Fee revenues from Westwood VIEs	7,800	$ 7,900	15,600	$ 15,900
Investment Owned, at Fair Value					$ 2,417
Common Trust Funds
Variable Interest Entity [Line Items]
Estimated Fair Value

VARIABLE INTEREST ENTITIES (D_2

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entities
Assets Under Management	$ 15,776,000
Estimated Fair Value	22,189	$ 32,915
Westwood Funds®
Variable Interest Entities
Assets Under Management	3,943,000
Estimated Fair Value
Amount at Risk
Common Trust Funds
Variable Interest Entities
Assets Under Management	696,000
Estimated Fair Value
Amount at Risk
Westwood Hospitality Fund I LLC [Member]
Variable Interest Entities
Assets Under Management	83,000
Estimated Fair Value	200
Amount at Risk	200
Private equity
Variable Interest Entities
Assets Under Management	0
Estimated Fair Value	7,800
Amount at Risk	7,800
Wealth Management
Variable Interest Entities
Assets Under Management	3,467,000
Institutional
Variable Interest Entities
Assets Under Management	$ 7,587,000

REVENUE Disaggregation of Reven

REVENUE Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024
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. The "Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income (Loss) are the unrealized gains and losses on our seed money investments, and our seed money investments are included in "Investments, at fair value" on our Condensed Consolidated Balance Sheets. Advisory and trust fees are calculated based on a percentage of AUM or AUA, as applicable, 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 for managing client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and AUA 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) sub-advisory 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 suite of 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. Performance-based fees are paid after the performance obligation has been satisfied. The revenue is based on future market performance and is subject to many 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 fee revenues. Revenue Disaggregated The following table presents our revenue disaggregated by account type (in thousands). Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Advisory Fees: Institutional $ 9,718 $ 9,443 $ 19,189 $ 19,046 Mutual Funds 6,856 7,093 13,767 14,279 Wealth Management 565 263 1,000 507 Performance-based — — — 555 Trust Fees 5,227 5,024 10,340 10,055 Other, net 322 122 1,124 230 Total revenues $ 22,688 $ 21,945 $ 45,420 $ 44,672 We have clients in various locations around the world. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands): Three Months Ended June 30, 2024 Advisory Trust Other Total Canada $ 260 $ — $ — $ 260 United States 16,879 5,227 322 22,428 Total $ 17,139 $ 5,227 $ 322 $ 22,688 Three Months Ended June 30, 2023 Advisory Trust Other Total Canada $ 276 $ — $ — $ 276 United States 16,523 5,024 122 21,669 Total $ 16,799 $ 5,024 $ 122 $ 21,945
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 22,688	$ 21,945	$ 45,420	$ 44,672
Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	260	276	517	568
United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	22,428	21,669	44,903	44,104
Investment Advisory Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	17,139	16,799	33,956	34,387
Investment Advisory Services [Member] | Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	260	276	517	568
Investment Advisory Services [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	16,879	16,523	33,439	33,819
Investment Advisory Services [Member] | Advisory
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	9,718	9,443		19,046	$ 19,189
Mutual Fund Advisory [Member] | Advisory
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	6,856	7,093	13,767	14,279
Private Wealth Advisory [Member] | Advisory
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	565	263	1,000	507
Performance-based fees [Member] | Advisory
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0	0	555
Trust Fees [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5,227	5,024	10,340	10,055
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	5,227	5,024	10,340	10,055
Trust Fees [Member] | Trust
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5,227	5,024	10,340	10,055
Other Revenue Misc Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	322	122	1,124	230
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	322	122	1,124	230
Other Revenue Misc Services [Member] | Advisory
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 322	$ 122	$ 1,124	$ 230

LONG-TERM INCENTIVE COMPENSAT_2

LONG-TERM INCENTIVE COMPENSATION (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount of shares purchased in the open market			$ 1,075,000	$ 0
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	6,000	106,000	13,000	108,000
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	$ 0	$ 1,380,000
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, 2024	Jun. 30, 2023
DomesticEmployeeServiceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ 1,283
Performance Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		97
DomesticServiceAndPerformanceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	0	1,380
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	$ 0	$ 1,380

LONG-TERM INCENTIVE COMPENSAT_4

LONG-TERM INCENTIVE COMPENSATION (Details 1) - Restricted Shares Subject Only to a Service Condition	6 Months Ended
	Jun. 30, 2024 $ / 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, 2024 $ / 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

LEASES (Textual)

LEASES (Textual) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 3,127	$ 3,673

SEGMENT REPORTING (Details Text

SEGMENT REPORTING (Details Textual)	6 Months Ended
	Jun. 30, 2024 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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net fee revenues from external sources	$ 22,366	$ 21,823	$ 44,296	$ 44,442
Net intersegment revenues	0	0	0	0
Other, net	322	122	1,124	230
Total revenues	22,688	21,945	45,420	44,672
Segment Assets	(147,374)	(142,105)	(147,374)	(142,105)	$ (155,167)
Goodwill	39,501	39,501	39,501	39,501	39,501
Equity Method Investments	4,578	4,180	4,578	4,180	$ 4,284
Payments to Acquire Property, Plant, and Equipment			24	97
Operating Segments | Advisory
Segment Reporting Information [Line Items]
Net fee revenues from external sources	17,139	16,799	33,956	34,387
Net intersegment revenues	1,448	1,587	3,022	3,249
Other, net	322	122	1,124	230
Total revenues	18,909	18,508	38,102	37,866
Segment Assets	(286,921)	(268,184)	(286,921)	(268,184)
Goodwill	23,100	23,100	23,100	23,100
Equity Method Investments	4,578	4,180	4,578	4,180
Payments to Acquire Property, Plant, and Equipment			1	31
Operating Segments | Trust
Segment Reporting Information [Line Items]
Net fee revenues from external sources	5,227	5,024	10,340	10,055
Net intersegment revenues	55	77	113	154
Other, net	0	0	0	0
Total revenues	5,282	5,101	10,453	10,209
Segment Assets	(46,553)	(44,412)	(46,553)	(44,412)
Goodwill	16,401	16,401	16,401	16,401
Equity Method Investments	0	0	0	0
Payments to Acquire Property, Plant, and Equipment			1	14
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	(13,465)	(14,831)	(13,465)	(14,831)
Goodwill	0	0	0	0
Equity Method Investments	0	0	0	0
Payments to Acquire Property, Plant, and Equipment			22	52
Eliminations
Segment Reporting Information [Line Items]
Net fee revenues from external sources	0	0	0	0
Net intersegment revenues	(1,503)	(1,664)	(3,135)	(3,403)
Other, net	0	0	0	0
Total revenues	(1,503)	(1,664)	(3,135)	(3,403)
Segment Assets	199,565	185,322	199,565	185,322
Goodwill	0	0	0	0
Equity Method Investments	$ 0	$ 0	0	0
Payments to Acquire Property, Plant, and Equipment			$ 0	$ 0

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($)		3 Months Ended	6 Months Ended
	Aug. 02, 2023	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Subsequent Event [Line Items]
Dividends declared per share (dollars per share)			$ 0.15	$ 0.15
Stock Repurchased During Period, Shares		86,346
Stock Repurchased During Period, Value		$ 1,100,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 800,000	$ 800,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared per share (dollars per share)	$ 0.15
Dividends payable, date to be paid	Oct. 01, 2024
Dividends payable, date of record	Sep. 02, 2024

Business Combinations and Asset

Business Combinations and Asset Acquisitions (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combination, Consideration Transferred			$ 1,168,000
Cash Acquired in Excess of Payments to Acquire Business			(402,000)
Payments to Acquire Businesses, Gross			1,570,000
Investment Owned, at Fair Value					$ 2,417,000
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value					2,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					919,000
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					919,000
Business Acquisition, Pro Forma Revenue		$ 21,945,000		$ 44,672,000
Business Acquisition, Pro Forma Net Income (Loss)		2,899,000		3,613,000
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	$ 0.9	$ 1,100,000	1,900,000	2,300,000
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	100,000		500,000	100,000
Business Combination, Acquisition of Less than 100 Percent of Broadmark, Noncontontrolling Interest			994,000
Payment for Contingent Consideration Liability, Financing Activities	(1,815,000)		(1,815,000)
Payment for Contingent Consideration Liability, Operating Activities	$ (1,800,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					382,000
Goodwill, Acquired During Period			$ 4,197,000	$ 4,197,000
Other Current Assets
Business Combination and Asset Acquisition [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					150,000
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					150,000
Accounts Receivable
Business Combination and Asset Acquisition [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					629,000
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					629,000
Property, Plant and Equipment
Business Combination and Asset Acquisition [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					11,000
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					11,000
Other Assets
Business Combination and Asset Acquisition [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					511,000
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					$ 511,000