Westwood (WHG) 10-Q 30 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 25, 2014
Document Document And Entity Information [Line Items]	'	'
Entity Registrant Name	'WESTWOOD HOLDINGS GROUP INC	'
Entity Central Index Key	'0001165002	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	8,288,414

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current Assets:	'	'
Cash and cash equivalents	$16,063	$10,864
Accounts receivable	16,685	14,468
Investments, at fair value	57,772	64,554
Deferred income taxes	1,313	3,782
Prepaid income taxes	2,083	'
Other assets	1,620	2,521
Total current assets	95,536	96,189
Goodwill	11,255	11,255
Deferred income taxes	2,116	2,041
Intangible assets, net	3,610	3,789
Property and equipment, net of accumulated depreciation of $2,445 and $2,155	2,676	2,746
Total assets	115,193	116,020
Current Liabilities:	'	'
Accounts payable and accrued liabilities	1,916	2,082
Dividends payable	4,167	3,935
Compensation and benefits payable	8,925	17,805
Income taxes payable	'	1,031
Total current liabilities	15,008	24,853
Accrued dividends	994	1,266
Deferred rent	1,196	1,268
Total long-term liabilities	2,190	2,534
Total liabilities	17,198	27,387
Commitments and contingencies (Note 11)	'	'
Stockholders' Equity:	'	'
Common stock, $0.01 par value, authorized 25,000,000 shares, issued 8,989,877 and outstanding 8,288,414 shares at June 30, 2014; issued 8,778,613 and outstanding 8,176,417 shares at December 31, 2013	90	88
Additional paid-in capital	108,846	100,955
Treasury stock, at cost - 701,463 shares at June 30, 2014; 602,196 shares at December 31, 2013	-29,008	-23,169
Accumulated other comprehensive loss	-279	-257
Retained earnings	18,346	11,016
Total stockholders' equity	97,995	88,633
Total liabilities and stockholders' equity	$115,193	$116,020

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Property and equipment, accumulated depreciation	$2,445	$2,155
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	8,989,877	8,778,613
Common stock, shares outstanding	8,288,414	8,176,417
Treasury stock, shares	701,463	602,196

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Advisory fees	'	'	'	'
Asset based	$22,095	$16,486	$42,484	$32,033
Performance based	3,443	2,535	3,806	2,535
Trust fees	5,151	4,574	10,179	8,791
Other, net	216	-120	385	216
Total revenues	30,905	23,475	56,854	43,575
EXPENSES:	'	'	'	'
Employee compensation and benefits	12,502	11,907	25,045	23,750
Sales and marketing	375	334	662	621
Westwood mutual funds	722	462	1,374	866
Information technology	1,014	678	1,729	1,334
Professional services	1,189	1,077	2,571	2,079
General and administrative	1,384	1,284	2,832	2,473
Total expenses	17,186	15,742	34,213	31,123
Income before income taxes	13,719	7,733	22,641	12,452
Provision for income taxes	4,897	2,854	8,060	4,740
Net income	8,822	4,879	14,581	7,712
Other comprehensive income (loss):	'	'	'	'
Foreign currency translation adjustments	332	-158	-22	-235
Total comprehensive income	$9,154	$4,721	$14,559	$7,477
Earnings per share:	'	'	'	'
Basic	$1.17	$0.66	$1.94	$1.05
Diluted	$1.14	$0.65	$1.89	$1.03
Weighted average shares outstanding:	'	'	'	'
Basic	7,523,347	7,349,868	7,499,016	7,318,688
Diluted	7,739,150	7,495,523	7,720,425	7,492,392

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $)	Total	CommonB Stock,B Par	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings
BALANCE at Dec. 31, 2013	$88,633,000	$88,000	$100,955,000	($23,169,000)	($257,000)	$11,016,000
BALANCE, shares at Dec. 31, 2013	8,176,417	8,176,417	'	'	'	'
Net income	14,581,000	'	'	'	'	14,581,000
Other comprehensive loss	-22,000	'	'	'	-22,000	'
Issuance of restricted stock, net	'	2,000	-2,000	'	'	'
Issuance of restricted stock net, shares	'	211,264	'	'	'	'
Dividends declared ($0.44 per share)	-7,251,000	'	'	'	'	-7,251,000
Restricted stock amortization	5,796,000	'	5,796,000	'	'	'
Reclassification of compensation liability to be paid in shares	170,000	'	170,000	'	'	'
Tax benefit related to equity compensation	1,927,000	'	1,927,000	'	'	'
Purchase of treasury stock	-5,839,000	'	'	-5,839,000	'	'
Purchase of treasury stock, shares	'	-99,267	'	'	'	'
BALANCE at Jun. 30, 2014	$97,995,000	$90,000	$108,846,000	($29,008,000)	($279,000)	$18,346,000
BALANCE, shares at Jun. 30, 2014	8,288,414	8,288,414	'	'	'	'

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) (USD $)	Jun. 30, 2014
Dividends declared, per share	$0.44
Retained Earnings	'
Dividends declared, per share	$0.44

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$14,581	$7,712
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	288	187
Amortization of intangible assets	180	180
Unrealized (gains) losses on trading investments	-134	639
Restricted stock amortization	5,796	5,692
Deferred income taxes	2,389	937
Excess tax benefits from stock based compensation	-1,916	-684
Net sales of investments - trading securities	6,927	7,880
Change in operating assets and liabilities:	'	'
Accounts receivable	-2,236	-4,003
Other current assets	919	-864
Accounts payable and accrued liabilities	-166	-71
Compensation and benefits payable	-8,683	-5,931
Income taxes payable and prepaid income taxes	-1,189	-1,991
Other liabilities	-29	18
Net cash provided by operating activities	16,727	9,701
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of property and equipment	-302	-313
Net cash used in investing activities	-302	-313
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Purchase of treasury stock	-5,839	-4,637
Excess tax benefits from stock based compensation	1,916	684
Cash dividends	-7,291	-2,988
Net cash used in financing activities	-11,214	-6,941
Effect of currency rate changes on cash	-12	-131
NET INCREASE IN CASH AND CASH EQUIVALENTS	5,199	2,316
Cash and cash equivalents, beginning of period	10,864	3,817
Cash and cash equivalents, end of period	16,063	6,133
Supplemental cash flow information:	'	'
Cash paid during the period for income taxes	$6,978	$5,723

Description_of_the_Business

Description of the Business	6 Months Ended
	Jun. 30, 2014
Description of the Business	'
	WESTWOOD HOLDINGS GROUP, INC. AND SUBSIDIARIES
	NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
	(Unaudited)
	1. 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 subsidiaries, Westwood Management Corp. (“Westwood Management”), Westwood Trust (“Westwood Trust”), Westwood International Advisors Inc. (“Westwood International”) and Westwood Advisors, LLC. Westwood Management provides investment advisory services to corporate retirement plans, public retirement plans, endowments and foundations, mutual funds, individuals and clients of Westwood Trust. Westwood Trust provides institutions and high net worth individuals with trust and custodial services and participation in its sponsored common trust funds. Westwood International provides investment advisory services to corporate retirement plans, public retirement plans, endowments and foundations, mutual funds and other pooled investment vehicles. Westwood Advisors, LLC is an Omaha-based registered investment advisor. 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 revenues and results of operations.
	Westwood Management is a registered investment adviser under the Investment Advisers Act of 1940. Westwood Trust is chartered and regulated by the Texas Department of Banking. Westwood International is registered as a portfolio manager and exempt market dealer with the Ontario Securities Commission and the Autorité des marchés financiers (AMF) in Québec.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Summary of Significant Accounting Policies	'
	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying condensed consolidated financial statements have been prepared without an audit and reflect all adjustments (consisting only of normal recurring adjustments) that, in the opinion of management, are necessary 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 using the accrual basis of accounting and have been prepared in accordance with the instructions for the presentation of interim financial information as prescribed by the Securities and Exchange Commission (“SEC”).
	The accompanying 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, 2013. Operating results for the periods in these condensed consolidated financial statements are not necessarily indicative of the results for any future period. The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of Westwood and its subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation.
	Use of Estimates
	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We believe the most significant estimates and assumptions are associated with the valuation of deferred taxes, stock-based compensation and impairment assessments of goodwill and intangible assets. Actual results could differ from those estimates.
	Revenue Recognition
	Investment advisory and trust fees are recognized as services are provided. These fees are determined in accordance with contracts between our subsidiaries and their clients and are generally based on a percentage of AUM. A limited number of our clients have contractual performance-based fee arrangements, which would pay us an additional fee if we outperform a specified index over a specific period of time. We record revenue for performance-based fees at the end of the measurement period. Most advisory and trust fees are payable in advance or in arrears on a calendar quarterly basis. Advance payments are deferred and recognized over the periods services are performed. Since billing periods for most of our advance paying clients coincide with the calendar quarter to which payment relates, revenue is recognized within the quarter. Consequently, no significant amount of deferred revenue is contained in our condensed consolidated financial statements. Deferred revenue is shown on the condensed consolidated balance sheets under the heading of “Accounts payable and accrued liabilities”. Other revenues generally consist of interest and investment income and are recognized as earned.
	Principles of consolidation
	We assess each legal entity that we manage to determine whether consolidation is appropriate at the onset of the relationship. We first determine whether the entity is a voting interest entity (“VOE”) or a variable interest entity (“VIE”) under GAAP and then whether we have a controlling financial interest in the entity. Assessing whether an entity is a VOE or VIE and if it requires consolidation involves judgment and analysis. Factors considered in this assessment include, but are not limited to, the legal organization of the entity, our equity ownership and contractual involvement with the entity and any related party or de facto agent implications of our involvement with the entity. We reconsider whether an entity is a VOE or VIE whenever contractual arrangements change, the entity receives additional equity or returns equity to its investors or changes in facts and circumstances occur that change the ability of investors to direct the activities of the entity.
	A VIE is an entity in which (i) the total equity investment at risk is not sufficient to enable the entity to finance its activities without subordinated financial support or (ii) the at-risk equity holders do not have the normal characteristics of a controlling financial interest.  That is, the at-risk equity holders do not have the obligation to absorb losses, the right to receive residual returns and/or the right to direct the activities of the entity that most significantly impact the entity’s economic performance. An enterprise must consolidate all VIEs of which it is the primary beneficiary. We determine if a sponsored investment meets the definition of a VIE by considering whether the fund’s equity investment at risk is sufficient to finance its activities without additional subordinated financial support and whether the fund’s at-risk equity holders absorb any losses, have the right to receive residual returns and have the right to direct the activities of the entity most responsible for the entity’s economic performance. For VIEs that are investment companies, the primary beneficiary of the VIE is the party that absorbs a majority of the expected losses of the VIE, receives a majority of the expected residual returns of the VIE, or both. For VIEs that are not investment companies, the primary beneficiary of a VIE is defined as the party who, considering the involvement of related parties and de facto agents, has (i) the power to direct the activities of the VIE that most significantly affect its economic performance and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. This evaluation is updated continuously.
	A VOE is an entity that is not within the scope of the guidance for VIEs. Consolidation of a VOE is required when a reporting entity owns a controlling financial interest in a VOE. Ownership of a majority of the voting interests is the usual condition for a controlling financial interest. At June 30, 2014 and December 31, 2013, none of our sponsored investment entities were VOEs subject to this assessment by the Company.
	Westwood Investment Funds PLC (the “UCITS Fund”), which was authorized by the Central Bank of Ireland on June 18, 2013 pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (“UCITS”), is an Ireland domiciled umbrella-type open-ended self-managed investment company. The UCITS Fund is established as an umbrella fund with segregated assets and liabilities between sub-funds. Notwithstanding the segregation of assets and liabilities within each sub-fund, the UCITS Fund is a single legal entity and no sub-fund constitutes a legal entity separate from the UCITS Fund itself. Shares of the sub-fund, all of which are owned by the third-party investors, are listed on the Irish Stock Exchange. The base currency of the UCITS Fund is the pound sterling. We determined that the UCITS Fund was a VIE as its at-risk equity holders do not have the ability to direct the activities of the UCITS Fund that most significantly impact the entity’s economic performance. Although the Company does not have an equity investment in the UCITS Fund, in that the Company’s representatives have a majority control of the UCITS Fund’s Board of Directors they can influence the UCITS Fund’s management and affairs. The UCITS’s Fund Board of Directors maintains this control through its duties which are stated in the UCITS Fund’s Memorandum and Articles of Association which have no expiration date. We concluded that the Company was not the primary beneficiary of the UCITS Fund because even though it has the power to direct the activities of the UCITS Fund (that most significantly impact the fund’s economic performance), it does not absorb a majority of the UCITS Fund’s expected losses and does not receive a majority of the UCITS Fund’s expected residual returns. As a result, the results of the UCITS Fund are not included in the Company’s consolidated financial results.
	We have also evaluated all of our other advisory relationships as well as our relationship as sponsor of our common trust funds to determine whether or not we qualify as the primary beneficiary based on whether there is an obligation to absorb the majority of expected losses or a right to receive the majority of residual returns. Since all losses and returns are distributed to the shareholders of the Westwood VIEs, we are not the primary beneficiary and consequently the Westwood VIEs are not included in our condensed consolidated financial statements. We have included the disclosures related to VIEs in Note 8.
	Cash and Cash Equivalents
	Cash and cash equivalents consist of short-term, highly liquid investments with maturities of three months or less, other than pooled investment vehicles considered to be investments. We maintain some cash and cash equivalents balances with financial institutions in excess of Federal Deposit Insurance Corporation insurance limits. The Company has not experienced losses on uninsured cash accounts.
	Accounts Receivable
	Accounts receivable represents balances arising from services provided to customers and are recorded on an accrual basis, net of any allowance for doubtful accounts. Accounts receivable are written off when they are determined to be uncollectible. Any allowance for doubtful accounts is estimated based on the Company’s historical write-off experience, existing conditions in the industry, and the financial stability of the customer. The majority of our accounts receivable balances consist of advisory and trust fees receivable from customers that we believe and have experienced to be fully collectible. Accordingly our condensed consolidated financial statements do not include an allowance for bad debt or any bad debt expense.
	Investments
	All marketable securities are classified as trading securities and are carried at quoted market value on the accompanying condensed consolidated balance sheets. Net unrealized holding gains or losses on investments classified as trading securities are reflected as a component of other revenues. We measure realized gains and losses on investments using the specific identification method. Investments include shares of Westwood mutual funds awarded to employees pursuant to mutual fund share incentive awards described in Note 9.
	Goodwill and Other Intangible Assets
	Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Goodwill is not amortized but is tested for impairment at least annually.
	We test more frequently if indicators are present or changes in circumstances suggest that impairment may exist. These indicators include, among others, declines in sales, earnings or cash flows, or the development of a material adverse change in the business climate. We assess goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a component. We have identified two reporting units, which are consistent with our reporting segments: Advisory and Trust. The Company is not required to calculate the fair value of a reporting unit unless the Company determines that it is more likely than not that its fair value is less than the carrying amount. The Company assesses goodwill for impairment using a qualitative assessment that includes consideration of the current trends in the industry in which the Company operates, macroeconomic conditions, recent financial performance of the Company’s reporting units and a market multiple approach valuation. In performing the annual impairment test, which is performed during the third quarter or more frequently when impairment indicators exist and after assessing the qualitative factors, we may be required to utilize the two-step approach prescribed by ASC 350, Goodwill and Other Intangible Assets. The first step requires a comparison of each reporting unit’s carrying value to the fair value of the respective unit. If the carrying value exceeds the fair value, a second step is performed to measure the amount of impairment loss, if any. The fair value of each reporting unit is estimated, entirely or predominantly, using a market multiple approach. We completed our annual goodwill impairment assessment during the third quarter of 2013 and determined that no impairment loss was required. No impairments were recorded during any of the periods presented.
	Our intangible assets represent the acquisition date fair value of acquired client relationships, trade names and non-compete agreements and are reflected net of amortization. In valuing these assets, we made significant estimates regarding their useful lives, growth rates and potential attrition. We periodically review intangible assets for events or circumstances that would indicate impairment. See Note 6.
	Income Taxes
	We file a United States federal income tax return as a consolidated group for Westwood and its subsidiaries based in the U.S. We also file a separate Canadian income tax return for Westwood International. Deferred income tax assets and liabilities are determined based on temporary differences between the financial statement and income tax bases of assets and liabilities as measured at enacted income tax rates. Deferred income tax expense generally reflects changes in deferred tax assets and liabilities. Deferred taxes relate primarily to stock-based compensation expense and net operating losses at Westwood International.
	We record net deferred tax assets when we believe such assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we were to determine that we would be able to realize our deferred income tax assets in the future in excess of the net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. No valuation allowance has been recorded in our condensed consolidated financial statements.
	We recognize tax liabilities in accordance with ASC 740, Income Taxes, and we adjust them when our judgment reflects the evaluation of new information. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which new information becomes available. At June 30, 2014 and December 31, 2013, the Company had not established any reserves for, nor recorded any unrecognized tax benefits related to, uncertain tax positions.
	Currency Translation
	Assets and liabilities of Westwood International, our non-U.S. dollar functional currency subsidiary, are translated at exchange rates as of applicable reporting dates. Revenues and expenses are translated at average exchange rates during the periods indicated. The gains and losses resulting from translating non-U.S. dollar functional currency into U.S. dollars are recorded through other comprehensive income.
	Long-term Compensation Agreements
	We entered into employment agreements with certain employees of Westwood International that provide for specified payments over four years, the latest of which is in 2015. In certain circumstances, these payments would be forfeited to us if the employment of these individuals is terminated before completion of the contractual earning period. Payments made in advance under these agreements are included in “accounts payable and accrued liabilities” on our condensed consolidated balance sheets, net of amounts already amortized.
	Stock Based Compensation
	We account for stock-based compensation in accordance with Financial Accounting Standards Board Accounting Standards Codification No. 718, Compensation-Stock Compensation (“ASC 718”). Under ASC 718, stock-based compensation expense reflects the fair value of stock-based awards measured at grant date, is recognized over the relevant service period, and is adjusted each period for anticipated forfeitures.
	We have issued restricted stock and granted stock options in accordance with our Third Amended and Restated Westwood Holdings Group, Inc. Stock Incentive Plan, as amended (the “Plan”). We apply judgment in developing an expectation of awards of restricted stock and stock options that may be forfeited. If actual experience differs significantly from these estimates, our stock-based compensation expense and results of operations could be materially affected.
	We have compensation arrangements with certain employees of Westwood International pursuant to which these employees are able to earn cash awards based on the performance of certain investment products. A portion of such awards may be paid in shares of our stock that vest over a multi-year period. We accrue a liability for these awards over both the annual period in which we determine it is probable that the award will be earned and, for the portion to be settled in shares, over the following three-year vesting period. For the six months ended June 30, 2014 and 2013 the expense recorded for these awards was $330,000 and $152,000, respectively. Cash awards expected to be settled in shares are funded into a trust pursuant to an established Canadian employee benefit plan. Generally, the Canadian trust subsequently acquires Westwood common shares in market transactions and holds such shares until the shares are vested and distributed, or until forfeited. Shares held in the trust are shown on our condensed consolidated balance sheets as treasury shares. During the first quarter of 2014 and the second quarter of 2013, the trust purchased in the open market 11,476 and 20,251 Westwood common shares for approximately $670,000 and $880,000, respectively.  Until shares are acquired by the trust, we measure the liability as a cash-based award included in “Compensation and benefits payable” on our condensed consolidated balance sheets. When the number of shares related to an award is determinable, the award becomes an equity award accounted for similarly to restricted stock, which is described in Note 9.
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. The ASU is intended to reduce the frequency of disposals reported as discontinued operations by focusing on strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. The standard will be effective for annual reporting periods beginning after December 15, 2014, although early adoption is permitted. We do not currently expect the adoption of this ASU to have a significant impact on our financial statements.
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which was the result of a joint project by the FASB and International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards. The issuance of a comprehensive and converged standard on revenue recognition is expected to improve the ability of financial statement users to understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The standard will require additional disclosures to help financial statement users better understand the nature, amount, timing, and potential uncertainty of the revenue being recognized. ASU 2014-09 will be effective for annual reporting periods beginning after December 15, 2016, and will require either retrospective application to each prior reporting period presented or retrospective application with the cumulative effect of initially applying the standard recognized at the date of adoption. We are currently evaluating the impact that the application of ASU 2014-09 will have on our financial statements and disclosures.
	In June 2014, the FASB issued ASU 2014-12 Compensation—Stock Compensation (Topic 718) Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period, which establishes specific guidance on how to account for share-based payments for awards with performance targets after the employee completes the requisite service period. Current U.S. GAAP does not contain explicit guidance on how to account for those share-based payments. The standard will be effective for annual reporting periods beginning after December 15, 2015, although early adoption is permitted. We do not currently expect the adoption of this ASU to have a significant impact on our financial statements.

Earnings_Per_Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share	'
	3. EARNINGS PER SHARE
	Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding for the applicable period. Diluted earnings per share for these periods is computed based on the weighted average number of shares outstanding plus the effect of any dilutive shares of restricted stock and stock options granted to employees and non-employee directors. There were approximately 37,000 anti-dilutive restricted shares as of June 30, 2014. There were no anti-dilutive restricted shares or options as of June 30, 2013.
	The following table sets forth the computation of basic and diluted shares (in thousands, except per share and share amounts):
		Three months ended				Six months ended
		June 30,				June 30,
		2014		2013		2014		2013
	Net income	$	8,822	$	4,879	$	14,581	$	7,712
	Weighted average shares outstanding - basic		7,523,347		7,349,868		7,499,016		7,318,688
	Dilutive potential shares from unvested restricted shares		215,803		145,655		221,409		173,704
	Weighted average shares outstanding - diluted		7,739,150		7,495,523		7,720,425		7,492,392
	Earnings per share:
	Basic	$	1.17	$	0.66	$	1.94	$	1.05
	Diluted	$	1.14	$	0.65	$	1.89	$	1.03

Investments

Investments	6 Months Ended
	Jun. 30, 2014
Investments	'
	4. INVESTMENTS
	Investment balances are presented in the table below (in thousands). All investments are carried at fair value, and all investments are accounted for as trading securities.
				Gross		Gross			Estimated
				Unrealized		Unrealized			Market
		Cost		Gains		Losses			Value
	June 30, 2014:
	U.S. Government and Government agency obligations	$	50,905	$	11	$	—		$	50,916
	Money market funds		1,219		—		—			1,219
	Equity funds		2,405		160		(12	)		2,553
	Fixed income funds		3,058		26		—			3,084
	Marketable securities	$	57,587	$	197	$	(12	)	$	57,772
	December 31, 2013:
	U.S. Government and Government agency obligations	$	42,595	$	16	$	—		$	42,611
	Money market funds		8,584		—		—			8,584
	Equity funds		2,130		200		(54	)		2,276
	Fixed income funds		10,984		99		—			11,083
	Marketable securities	$	64,293	$	315	$	(54	)	$	64,554

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Measurements	'
	5. FAIR VALUE MEASUREMENTS
	We determine estimated fair values of our financial instruments using available information. The fair value amounts discussed in our condensed consolidated financial statements are not necessarily indicative of either amounts realizable upon disposition of these instruments or our intent or ability to dispose of these assets. The estimated fair value of cash and cash equivalents, accounts receivable, prepaid expenses, accounts payable, dividends payable, income taxes payable and accrued liabilities, approximates their carrying value due to their short-term maturities and are classified as level 1 fair value measurements. The carrying amount of investments designated as “trading” securities, primarily U.S. Government and Government agency obligations, money market funds, Westwood Funds® mutual funds and Westwood Trust common trust fund shares, equals their fair value based on prices quoted in active markets and, with respect to funds, the net asset value of the shares held as reported by the fund. Market values of our money market holdings generally do not fluctuate.
	ASC 820, Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value and requires additional disclosures regarding certain fair value measurements. ASC 820 establishes a three-tier hierarchy for measuring fair value as follows:
	·	level 1 – quoted market prices in active markets for identical assets
	·	level 2 – inputs other than quoted prices that are directly or indirectly observable
	·	level 3 – unobservable inputs where there is little or no market activity
	The following table summarizes the values of our assets as of the dates indicated within the fair value hierarchy (in thousands).
		Level 1		Level 2		Level 3		Total
	As of June 30, 2014:
	Investments in securities:
	Trading	$	55,610	$	2,162	$	—	$	57,772
	Total financial instruments	$	55,610	$	2,162	$	—	$	57,772
	As of December 31, 2013:
	Investments in securities:
	Trading	$	64,554	$	—	$	—	$	64,554
	Total financial instruments	$	64,554	$	—	$	—	$	64,554
	Investments categorized as level 2 assets consist of investments in common trust funds sponsored by Westwood Trust. Common trust funds are private investment vehicles comprised of commingled investments held in trusts that are valued using the Net Asset Value (“NAV”), calculated by us as administrator of the funds. The NAV is quoted on an inactive private market; however, the unit price is based on the market value of the underlying investments that are traded on an active market. Westwood Trust sponsors common trust funds for most of the investment strategies managed by Westwood Management. These strategies are disclosed in our Annual Report on Form 10-K for the year ended December 31, 2013. Investments in the funds are generally redeemable on a daily basis. There are no current plans to sell any of these investments.

Intangible_Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2014
Intangible Assets	'
	6. INTANGIBLE ASSETS
	The following is a summary of our intangible assets at June 30, 2014 and December 31, 2013 (in thousands):
		Weighted
		Average
		Amortization		Gross					Net
		Period		Carrying		Accumulated			Carrying
		(years)		Amount		Amortization			Amount
	June 30, 2014:
	Client relationships		14.2	$	5,005	$	(1,395	)	$	3,610
	Total			$	5,005	$	(1,395	)	$	3,610
	December 31, 2013:
	Client relationships		14.2	$	5,005	$	(1,216	)	$	3,789
	Total			$	5,005	$	(1,216	)	$	3,789
	Amortization expense was $180,000 and $180,000 for the six months ended June 30, 2014 and 2013, respectively.
	Estimated amortization expense for intangible assets for the next five years follows (in thousands):
		Estimated
		Amortization
	For the Year ending December 31,	Expense
	2014	$	359
	2015		359
	2016		359
	2017		359
	2018		359

Balance_Sheet_Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2014
Balance Sheet Components	'
	7. BALANCE SHEET COMPONENTS
	Accumulated Other Comprehensive Income (Loss)
	The components of accumulated other comprehensive income (loss) were as follows (in thousands):
		As of			As of
		June 30,			December 31,
		2014			2013
	Foreign currency translation adjustment	$	(279	)	$	(257	)
	Accumulated other comprehensive loss	$	(279	)	$	(257	)
	Accrued Dividends
	Accrued dividends of $994,000 at June 30, 2014 and $1,266,000 at December 31, 2013 are dividends accrued on unvested restricted shares that are expected to vest subsequent to June 30, 2015. When those unvested restricted shares vest, the dividends accrued on those shares will be paid.

Variable_Interest_Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2014
Variable Interest Entities	'
	8. VARIABLE INTEREST ENTITIES
	Westwood Trust sponsors common trust funds (“CTFs”) for its clients. These funds allow clients to commingle assets to achieve economies of scale. Westwood International provides investment advisory services to the UCITS Fund. Westwood Management provides investment advisory services to the Westwood Funds®, a family of mutual funds, and to two collective investment trusts (“CITs”). Some clients of Westwood Management hold their investments in ten limited liability companies (“LLCs”) that were formed and sponsored by McCarthy Group Advisors, L.L.C. The CTFs, Westwood Funds®, CITs and LLCs (“Westwood VIEs”) are considered VIEs because our clients, who hold the equity at risk, do not have a direct or indirect ability through voting or similar rights to make decisions about the funds that would have a significant effect on their success. We receive fees for managing assets in these entities commensurate with market rates.
	We evaluate all of our advisory relationships and CTFs to determine whether or not we qualify as the primary beneficiary based on whether there is an obligation to absorb the majority of expected losses or a right to receive the majority of expected residual returns. Since all losses and returns are distributed to the shareholders of the Company’s VIEs, we are not the primary beneficiary and consequently the Westwood VIEs are not included in our condensed consolidated financial statements.
	Otherwise, we have not provided any financial support not previously contractually obligated to provide and there are no arrangements that would require us to provide additional financial support to any of these VIEs. Our investments in the Westwood Funds® and the CTFs are accounted for as investments in accordance with our other investments described in Note 4.
	The following table displays assets under management, corporate money invested and risk of loss in each vehicle (in millions).
		As of June 30, 2014
		Assets
		Under		Corporate		Risk of
		Management		Investment		Loss
	Westwood Funds®	$	3,290	$	3.5	$	3.5
	Common Trust Funds		2,737		2.1		2.1
	Collective Investment Trusts		324		—		—
	LLCs		262		—		—
	UCITS Fund		839		—		—

Employee_Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2014
Employee Benefits	'
	9. EMPLOYEE BENEFITS
	Stock Based Compensation
	We have issued stock options and restricted shares to our employees and non-employee directors and offer 401(k) matching and profit sharing contributions to our employees. The Plan reserves shares of Westwood common stock for issuance to eligible employees, directors and consultants of Westwood or its subsidiaries in the form of restricted stock and stock options. The total number of shares that may be issued under the Plan (including predecessor plans to the Plan) may not exceed 3,898,100 shares. In the event of a change in control of Westwood, the Plan contains provisions providing for the acceleration of the vesting of restricted stock and stock options. At June 30, 2014, approximately 505,000 shares remain available for issuance under the Plan.
	The Share Award Plan of Westwood Holdings Group, Inc. for Service provided in Canada to its Subsidiaries (the “Canada EB Plan”) provides compensation in the form of common stock for services performed by persons to Westwood International. As described in Note 2, the trust formed pursuant to the Canada EB Plan holds 31,727 shares of Westwood common stock. Under the Canada EB Plan, no more than $10 million CDN (or $9.1 million in U. S. Dollars using the exchange rate on June 30, 2014) may be funded to the Plan Trustee to fund purchases of common stock with respect to awards granted under the Canada EB Plan. At June 30, 2014, approximately 131,000 shares remain available for issuance under the Canada EB Plan based on a share price of $60.04, the closing price of our stock as of June 30, 2014.
	The following table presents the total stock-based compensation expense recorded and the total income tax benefit recognized for stock-based compensation arrangements for the years indicated (in thousands):
		Six months ended
		June 30,
		2014			2013
	Service condition restricted stock expense	$	3,551		$	3,902
	Performance-based restricted stock expense		2,013			1,682
	Restricted stock expense under the Plan		5,564			5,584
	Canada EB Plan restricted stock expense		232			108
	Total stock based compensation expense	$	5,796		$	5,692
	Restricted Stock
	Under the Plan, we have granted to employees and non-employee directors restricted stock subject to service conditions, and to certain key employees restricted stock subject to both service and performance conditions. We 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, an adjustment for restrictions on dividends and an estimate of shares that will not vest due to forfeitures. This compensation cost is amortized on a straight-line basis over the applicable vesting period.
	As of June 30, 2014, there was approximately $29.0 million of unrecognized compensation expense for restricted stock grants under the Plan, which is expected to be recognized over a remaining weighted-average period of 2.8 years. Our two types of restricted stock grants under the Plan are discussed below.
					Weighted Average
					Grant Date Fair
	Restricted shares subject only to a service condition:	Shares			Value
	Non-vested, January 1, 2014		511,060		$	40.49
	Granted		182,990			58.78
	Vested		(186,680	)		38.76
	Forfeited		(31,291	)		47.87
	Non-vested, June 30, 2014		476,079			47.72
	Performance-based restricted share grants
	Under the Plan, certain key employees were granted restricted shares that vest over five years provided that annual performance goals established by the Compensation Committee of Westwood’s board of directors are met. In February 2014, the Compensation Committee established the 2014 goal as adjusted pre-tax income of at least $34.0 million, representing a five-year compound annual growth rate in excess of 10% over annual adjusted pre-tax income recorded in 2009. Our adjusted pre-tax income is determined based on our audited financial statements and is equal to income before income taxes increased by expenses incurred for the year for (i) incentive compensation for all officers and employees and (ii) performance-based restricted stock awards, excluding start up, non-recurring and similar expense items. In the first quarter of 2014, we concluded that it was probable that we would meet the performance goals required to vest the applicable percentage of the performance-based restricted shares this year and began recording expense related to those shares. Each year the Compensation Committee establishes a specific goal for that year’s vesting of the restricted shares, which historically is based upon Westwood’s adjusted pre-tax income, as defined. If the performance goal is not met in any year during the vesting period, the Compensation Committee may establish a goal for a subsequent vesting period, which, if achieved or exceeded, may result in full or partial vesting of the shares that did not otherwise become vested in a prior year. In no event, under the current grants, will the maximum number of shares that may become vested over the vesting period exceed 175,000 shares in the case of our Chief Executive Officer or 349,565 shares collectively in the case of certain other employees. If a portion of the performance-based restricted shares do not vest, no compensation expense is recognized for that portion and any previously recognized compensation expense related to shares that do not vest would be reversed.
					Weighted Average
	Restricted shares subject to service and performance conditions:				Grant Date Fair
		Shares			Value
	Non-vested, January 1, 2014		227,000		$	40.84
	Granted		59,565			57.07
	Vested		—			—
	Forfeited		—			—
	Non-vested, June 30, 2014		286,565			44.21
	Deferred Share Units
	We established a deferred share unit (“DSU”) plan for employees and directors of Westwood International. A DSU is an award linked to the value of Westwood’s common stock and is represented by a notional credit to a participant account. The value of a DSU is initially equal to the value of a share of our common stock. DSUs vest 20%, 40%, 60%, and 80% after two, three, four and five years of service, respectively. DSUs become fully vested after six years of service by the participant and the liability for these units is settled in cash upon termination of the participant’s service. We record expense for DSUs based on the number of units vested on a straight line basis, which may increase or decrease based on changes in the price of our common shares and will increase for additional units received from dividends declared on our shares. As of June 30, 2014, we recorded an accrued liability of $76,000 for 3,729 deferred share units related to awards issued in 2013 and 2014 based on the $60.04 per share closing price of our common stock on the last trading day of the quarter ended June 30, 2014.
	Mutual Fund Share Incentive Awards
	We grant annually to certain employees mutual fund incentive awards, which are bonus awards based on our mutual funds achieving certain performance goals. Awards granted are notionally credited to a participant account maintained by us that represents a number of mutual fund shares equal to the award amount divided by the net closing value of a fund share on the date the amount is credited to the account.
	These awards vest after approximately one year of service following the year in which the award is earned by the participant. We begin accruing a liability for mutual fund incentive awards when we determine it is probable that the award will be earned and record expense for these awards over the service period of the award, which is approximately two years. During the year in which the amount of the award is determined, we record expense based on the expected value of the award. After the award is earned, we record expense based on the value of the shares awarded and the percentage of the vesting period that has transpired. Our liability under these awards may increase or decrease based on changes in the value of the mutual fund shares awarded, including reinvested income from the mutual funds during the vesting period. Upon vesting, participants receive the value of the mutual fund share awards adjusted for earnings or losses attributable to the underlying mutual funds. For the six months ended June 30, 2014 and 2013, we recorded expense of $310,000 and $1.2 million, respectively, related to mutual fund share incentive awards. As of June 30, 2014 and December 31, 2013, we had an accrued liability of $310,000  and $1.9 million, respectively, related to mutual fund incentive awards.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2014
Related Party Transactions	'
	10. RELATED PARTY TRANSACTIONS
	The Company engages in transactions with its affiliates in the ordinary course of business.  Westwood International provides investment advisory services to the UCITS Fund. Certain members of the Company’s management and board of directors serve on the board of directors of the UCITS Fund, which began operations in August 2013. Under the terms of the investment advisory agreements, the Company earns quarterly fees paid by clients of the UCITS Fund and, in certain cases, by the UCITS Fund. The fees are based on negotiated fee schedules applied to AUM. These fees are commensurate with market rates and are negotiated and contracted at arm’s length. For the six months ended June 30, 2014, the Company earned approximately $403,000 in fees directly from the UCITS Fund. This does not include fees paid directly to Westwood International by certain clients invested in the UCITS Fund that have entered into an investment management agreement with Westwood International.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies	'
	11. COMMITMENTS AND CONTINGENCIES
	On August 3, 2012, AGF Management Limited and AGF Investments Inc. (collectively, “AGF”) filed a lawsuit in the Ontario Superior Court of Justice against Westwood, certain Westwood employees and the executive recruiting firm of Warren International, LLC. (“Warren”). The action relates to the hiring of certain members of Westwood’s global and emerging markets investment team previously employed by AGF. AGF is alleging that the former employees breached certain obligations when they resigned from AGF and that Westwood and Warren induced such breaches. AGF is seeking an unspecified amount of damages and punitive damages of $10 million (CAD) in the lawsuit. On November 5, 2012, Westwood issued a response to AGF’s lawsuit with a counterclaim against AGF for defamation. Westwood is seeking $1 million (CAD) in general damages, $10 million (CAD) in special damages, $1 million (CAD) in punitive damages, and costs. On November 6, 2012, AGF filed a second lawsuit against Westwood, Westwood Management and an employee of a Westwood subsidiary, alleging that the employee made defamatory statements about AGF. In this second lawsuit, AGF is seeking $5 million (CAD) in general damages, $1 million (CAD) per defendant in punitive damages, unspecified special damages, interest and costs. The pleadings phase is complete and we are now in the discovery phase, which we hope to complete by the end of 2014.
	While we intend to vigorously defend both actions and pursue our counterclaims, we are currently unable to estimate the ultimate aggregate amount of monetary gain, loss or financial impact of these actions and counterclaims. Defending these actions and pursuing these counterclaims may be expensive for us and time consuming for our personnel. While we do not currently believe these proceedings will have a material impact, adverse resolution of these actions and counterclaims could have a material adverse effect on our business, financial condition or results of operations.
	Our policy is to not accrue legal fees and directly related costs as part of potential loss contingencies. We have agreed with our Directors & Officers insurance provider that 50% of the defense costs related to both AGF claims, excluding Westwood’s counterclaim against AGF, will be covered by insurance. We expense legal fees and directly-related costs as incurred. We have received insurance proceeds of approximately $240,000 to date and have recorded a receivable of $146,000 as of June 30, 2014, which represents the current estimate of expenses related to this lawsuit that we expect to recover under our insurance policies. This receivable is part of “Other current assets” on our condensed consolidated balance sheets.

Segment_Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2014
Segment Reporting	'
	12. 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 evaluates the performance of our segments based primarily on fee revenues and economic earnings. Westwood Holdings Group, Inc., the parent company of Advisory and Trust, does not have revenues and is the entity in which we record typical holding company expenses including employee compensation and benefits for holding company employees, directors’ fees and investor relations costs. All segment accounting policies are the same as those described in the summary of significant accounting policies. Intersegment balances that eliminate in consolidation have been applied to the appropriate segment.
	Advisory
	Our Advisory segment provides investment advisory services to corporate retirement plans, public retirement plans, endowments, foundations, individuals and the Westwood Funds®, as well as investment subadvisory services to mutual funds and our Trust segment. Westwood Management and Westwood International, which provide investment advisory services to clients of similar type, are included in our Advisory segment.
	Trust
	Trust provides trust and custodial services to its clients and to our Advisory segment and participates in common trust funds that it sponsors to institutions and high net worth individuals. Westwood Trust is included in our Trust segment.
								Westwood
		Advisory			Trust			Holdings			Eliminations			Consolidated
	Three months ended June 30, 2014
	Net fee revenues from external sources	$	25,538		$	5,151		$	—		$	—		$	30,689
	Net intersegment revenues		3,283			—			—			(3,283	)		—
	Net interest and dividend revenue		43			—			—			—			43
	Other revenue		173			—			—			—			173
	Total revenues	$	29,037		$	5,151		$	—		$	(3,283	)	$	30,905
	Economic Earnings	$	12,436		$	605		$	(1,465	)	$	—		$	11,576
	Less:   Restricted stock expense														2,626
	Intangible amortization														90
	Deferred taxes on goodwill														38
	Net income													$	8,822
	Segment assets	$	116,433		$	15,876		$	—		$	(17,116	)	$	115,193
	Segment goodwill	$	5,219		$	6,036		$	—		$	—		$	11,255
	Three months ended June 30, 2013
	Net fee revenues from external sources	$	19,021		$	4,574		$	—		$	—		$	23,595
	Net intersegment revenues		2,324			4			—			(2,328	)		—
	Net interest and dividend revenue		145			—			—			—			145
	Other revenue		(264	)		(1	)		—			—			(265	)
	Total revenues	$	21,226		$	4,577		$	—		$	(2,328	)	$	23,475
	Economic Earnings	$	7,478		$	515		$	—		$	—		$	7,993
	Less:   Restricted stock expense														2,986
	Intangible amortization														90
	Deferred taxes on goodwill														38
	Net income													$	4,879
	Segment assets	$	94,069		$	13,756		$	—		$	(12,630	)	$	95,195
	Segment goodwill	$	5,219		$	6,036		$	—		$	—		$	11,255
								Westwood
		Advisory			Trust			Holdings			Eliminations			Consolidated
	Six months ended June 30, 2014
	Net fee revenues from external sources	$	46,290		$	10,179		$	—		$	—		$	56,469
	Net intersegment revenues		6,664			—			—			(6,664	)		—
	Net interest and dividend revenue		165			1			—			—			166
	Other revenue		218			1			—			—			219
	Total revenues	$	53,337		$	10,181		$	—		$	(6,664	)	$	56,854
	Economic Earnings	$	23,105		$	827		$	(3,299	)	$	—		$	20,633
	Less:   Restricted stock expense														5,796
	Intangible amortization														180
	Deferred taxes on goodwill														76
	Net income													$	14,581
	Six months ended June 30, 2013
	Net fee revenues from external sources	$	34,568		$	8,791		$	—		$	—		$	43,359
	Net intersegment revenues		4,257			9			—			(4,266	)		—
	Net interest and dividend revenue		277			1			—			—			278
	Other revenue		(61	)		(1	)		—			—			(62	)
	Total revenues	$	39,041		$	8,800		$	—		$	(4,266	)	$	43,575
	Economic Earnings	$	12,767		$	893		$	—		$	—		$	13,660
	Less:   Restricted stock expense														5,692
	Intangible amortization														180
	Deferred taxes on goodwill														76
	Net income													$	7,712
	The segment presentation above has been updated from the prior presentation to show Economic Earnings, a non-U.S. generally accepted accounting principles (“non-GAAP”) performance measure of segment profit or loss. We provide this measure in addition to, but not as a substitute for, net income, which is reported on a U.S. GAAP basis. Both our management and Board of Directors review Economic Earnings to evaluate our ongoing performance, allocate resources and review dividend policy. We believe that this non-GAAP performance measure of segment profit or loss, while not a substitute for GAAP net income, is useful for management and investors when evaluating our underlying operating and financial performance and our available resources. We do not advocate that investors consider this non-GAAP measure of segment profit or loss without considering financial information prepared in accordance with GAAP.
	In calculating Economic Earnings, we add to net income the non-cash expense associated with equity-based compensation awards of restricted stock and stock options, amortization of intangible assets and the deferred taxes related to the tax-basis amortization of goodwill. Although depreciation on property and equipment is a non-cash expense, we do not add it back when calculating Economic Earnings because depreciation charges represent a decline in the value of the related assets that will ultimately require replacement.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Basis of Presentation	'
	Basis of Presentation
	The accompanying condensed consolidated financial statements have been prepared without an audit and reflect all adjustments (consisting only of normal recurring adjustments) that, in the opinion of management, are necessary 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 using the accrual basis of accounting and have been prepared in accordance with the instructions for the presentation of interim financial information as prescribed by the Securities and Exchange Commission (“SEC”).
	The accompanying 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, 2013. Operating results for the periods in these condensed consolidated financial statements are not necessarily indicative of the results for any future period. The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of Westwood and its subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation.
Use of Estimates	'
	Use of Estimates
	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We believe the most significant estimates and assumptions are associated with the valuation of deferred taxes, stock-based compensation and impairment assessments of goodwill and intangible assets. Actual results could differ from those estimates.
Revenue Recognition	'
	Revenue Recognition
	Investment advisory and trust fees are recognized as services are provided. These fees are determined in accordance with contracts between our subsidiaries and their clients and are generally based on a percentage of AUM. A limited number of our clients have contractual performance-based fee arrangements, which would pay us an additional fee if we outperform a specified index over a specific period of time. We record revenue for performance-based fees at the end of the measurement period. Most advisory and trust fees are payable in advance or in arrears on a calendar quarterly basis. Advance payments are deferred and recognized over the periods services are performed. Since billing periods for most of our advance paying clients coincide with the calendar quarter to which payment relates, revenue is recognized within the quarter. Consequently, no significant amount of deferred revenue is contained in our condensed consolidated financial statements. Deferred revenue is shown on the condensed consolidated balance sheets under the heading of “Accounts payable and accrued liabilities”. Other revenues generally consist of interest and investment income and are recognized as earned.
Principles of Consolidation	'
	Principles of consolidation
	We assess each legal entity that we manage to determine whether consolidation is appropriate at the onset of the relationship. We first determine whether the entity is a voting interest entity (“VOE”) or a variable interest entity (“VIE”) under GAAP and then whether we have a controlling financial interest in the entity. Assessing whether an entity is a VOE or VIE and if it requires consolidation involves judgment and analysis. Factors considered in this assessment include, but are not limited to, the legal organization of the entity, our equity ownership and contractual involvement with the entity and any related party or de facto agent implications of our involvement with the entity. We reconsider whether an entity is a VOE or VIE whenever contractual arrangements change, the entity receives additional equity or returns equity to its investors or changes in facts and circumstances occur that change the ability of investors to direct the activities of the entity.
	A VIE is an entity in which (i) the total equity investment at risk is not sufficient to enable the entity to finance its activities without subordinated financial support or (ii) the at-risk equity holders do not have the normal characteristics of a controlling financial interest.  That is, the at-risk equity holders do not have the obligation to absorb losses, the right to receive residual returns and/or the right to direct the activities of the entity that most significantly impact the entity’s economic performance. An enterprise must consolidate all VIEs of which it is the primary beneficiary. We determine if a sponsored investment meets the definition of a VIE by considering whether the fund’s equity investment at risk is sufficient to finance its activities without additional subordinated financial support and whether the fund’s at-risk equity holders absorb any losses, have the right to receive residual returns and have the right to direct the activities of the entity most responsible for the entity’s economic performance. For VIEs that are investment companies, the primary beneficiary of the VIE is the party that absorbs a majority of the expected losses of the VIE, receives a majority of the expected residual returns of the VIE, or both. For VIEs that are not investment companies, the primary beneficiary of a VIE is defined as the party who, considering the involvement of related parties and de facto agents, has (i) the power to direct the activities of the VIE that most significantly affect its economic performance and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. This evaluation is updated continuously.
	A VOE is an entity that is not within the scope of the guidance for VIEs. Consolidation of a VOE is required when a reporting entity owns a controlling financial interest in a VOE. Ownership of a majority of the voting interests is the usual condition for a controlling financial interest. At June 30, 2014 and December 31, 2013, none of our sponsored investment entities were VOEs subject to this assessment by the Company.
	Westwood Investment Funds PLC (the “UCITS Fund”), which was authorized by the Central Bank of Ireland on June 18, 2013 pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (“UCITS”), is an Ireland domiciled umbrella-type open-ended self-managed investment company. The UCITS Fund is established as an umbrella fund with segregated assets and liabilities between sub-funds. Notwithstanding the segregation of assets and liabilities within each sub-fund, the UCITS Fund is a single legal entity and no sub-fund constitutes a legal entity separate from the UCITS Fund itself. Shares of the sub-fund, all of which are owned by the third-party investors, are listed on the Irish Stock Exchange. The base currency of the UCITS Fund is the pound sterling. We determined that the UCITS Fund was a VIE as its at-risk equity holders do not have the ability to direct the activities of the UCITS Fund that most significantly impact the entity’s economic performance. Although the Company does not have an equity investment in the UCITS Fund, in that the Company’s representatives have a majority control of the UCITS Fund’s Board of Directors they can influence the UCITS Fund’s management and affairs. The UCITS’s Fund Board of Directors maintains this control through its duties which are stated in the UCITS Fund’s Memorandum and Articles of Association which have no expiration date. We concluded that the Company was not the primary beneficiary of the UCITS Fund because even though it has the power to direct the activities of the UCITS Fund (that most significantly impact the fund’s economic performance), it does not absorb a majority of the UCITS Fund’s expected losses and does not receive a majority of the UCITS Fund’s expected residual returns. As a result, the results of the UCITS Fund are not included in the Company’s consolidated financial results.
	We have also evaluated all of our other advisory relationships as well as our relationship as sponsor of our common trust funds to determine whether or not we qualify as the primary beneficiary based on whether there is an obligation to absorb the majority of expected losses or a right to receive the majority of residual returns. Since all losses and returns are distributed to the shareholders of the Westwood VIEs, we are not the primary beneficiary and consequently the Westwood VIEs are not included in our condensed consolidated financial statements. We have included the disclosures related to VIEs in Note 8.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	Cash and cash equivalents consist of short-term, highly liquid investments with maturities of three months or less, other than pooled investment vehicles considered to be investments. We maintain some cash and cash equivalents balances with financial institutions in excess of Federal Deposit Insurance Corporation insurance limits. The Company has not experienced losses on uninsured cash accounts.
Accounts Receivable	'
	Accounts Receivable
	Accounts receivable represents balances arising from services provided to customers and are recorded on an accrual basis, net of any allowance for doubtful accounts. Accounts receivable are written off when they are determined to be uncollectible. Any allowance for doubtful accounts is estimated based on the Company’s historical write-off experience, existing conditions in the industry, and the financial stability of the customer. The majority of our accounts receivable balances consist of advisory and trust fees receivable from customers that we believe and have experienced to be fully collectible. Accordingly our condensed consolidated financial statements do not include an allowance for bad debt or any bad debt expense.
Investments	'
	Investments
	All marketable securities are classified as trading securities and are carried at quoted market value on the accompanying condensed consolidated balance sheets. Net unrealized holding gains or losses on investments classified as trading securities are reflected as a component of other revenues. We measure realized gains and losses on investments using the specific identification method. Investments include shares of Westwood mutual funds awarded to employees pursuant to mutual fund share incentive awards described in Note 9.
Goodwill and Other Intangible Assets	'
	Goodwill and Other Intangible Assets
	Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Goodwill is not amortized but is tested for impairment at least annually.
	We test more frequently if indicators are present or changes in circumstances suggest that impairment may exist. These indicators include, among others, declines in sales, earnings or cash flows, or the development of a material adverse change in the business climate. We assess goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a component. We have identified two reporting units, which are consistent with our reporting segments: Advisory and Trust. The Company is not required to calculate the fair value of a reporting unit unless the Company determines that it is more likely than not that its fair value is less than the carrying amount. The Company assesses goodwill for impairment using a qualitative assessment that includes consideration of the current trends in the industry in which the Company operates, macroeconomic conditions, recent financial performance of the Company’s reporting units and a market multiple approach valuation. In performing the annual impairment test, which is performed during the third quarter or more frequently when impairment indicators exist and after assessing the qualitative factors, we may be required to utilize the two-step approach prescribed by ASC 350, Goodwill and Other Intangible Assets. The first step requires a comparison of each reporting unit’s carrying value to the fair value of the respective unit. If the carrying value exceeds the fair value, a second step is performed to measure the amount of impairment loss, if any. The fair value of each reporting unit is estimated, entirely or predominantly, using a market multiple approach. We completed our annual goodwill impairment assessment during the third quarter of 2013 and determined that no impairment loss was required. No impairments were recorded during any of the periods presented.
	Our intangible assets represent the acquisition date fair value of acquired client relationships, trade names and non-compete agreements and are reflected net of amortization. In valuing these assets, we made significant estimates regarding their useful lives, growth rates and potential attrition. We periodically review intangible assets for events or circumstances that would indicate impairment. See Note 6.
Income Taxes	'
	Income Taxes
	We file a United States federal income tax return as a consolidated group for Westwood and its subsidiaries based in the U.S. We also file a separate Canadian income tax return for Westwood International. Deferred income tax assets and liabilities are determined based on temporary differences between the financial statement and income tax bases of assets and liabilities as measured at enacted income tax rates. Deferred income tax expense generally reflects changes in deferred tax assets and liabilities. Deferred taxes relate primarily to stock-based compensation expense and net operating losses at Westwood International.
	We record net deferred tax assets when we believe such assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we were to determine that we would be able to realize our deferred income tax assets in the future in excess of the net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. No valuation allowance has been recorded in our condensed consolidated financial statements.
	We recognize tax liabilities in accordance with ASC 740, Income Taxes, and we adjust them when our judgment reflects the evaluation of new information. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which new information becomes available. At June 30, 2014 and December 31, 2013, the Company had not established any reserves for, nor recorded any unrecognized tax benefits related to, uncertain tax positions.
Currency Translation	'
	Currency Translation
	Assets and liabilities of Westwood International, our non-U.S. dollar functional currency subsidiary, are translated at exchange rates as of applicable reporting dates. Revenues and expenses are translated at average exchange rates during the periods indicated. The gains and losses resulting from translating non-U.S. dollar functional currency into U.S. dollars are recorded through other comprehensive income.
Long-term Compensation Agreements	'
	Long-term Compensation Agreements
	We entered into employment agreements with certain employees of Westwood International that provide for specified payments over four years, the latest of which is in 2015. In certain circumstances, these payments would be forfeited to us if the employment of these individuals is terminated before completion of the contractual earning period. Payments made in advance under these agreements are included in “accounts payable and accrued liabilities” on our condensed consolidated balance sheets, net of amounts already amortized.
Stock Based Compensation	'
	Stock Based Compensation
	We account for stock-based compensation in accordance with Financial Accounting Standards Board Accounting Standards Codification No. 718, Compensation-Stock Compensation (“ASC 718”). Under ASC 718, stock-based compensation expense reflects the fair value of stock-based awards measured at grant date, is recognized over the relevant service period, and is adjusted each period for anticipated forfeitures.
	We have issued restricted stock and granted stock options in accordance with our Third Amended and Restated Westwood Holdings Group, Inc. Stock Incentive Plan, as amended (the “Plan”). We apply judgment in developing an expectation of awards of restricted stock and stock options that may be forfeited. If actual experience differs significantly from these estimates, our stock-based compensation expense and results of operations could be materially affected.
	We have compensation arrangements with certain employees of Westwood International pursuant to which these employees are able to earn cash awards based on the performance of certain investment products. A portion of such awards may be paid in shares of our stock that vest over a multi-year period. We accrue a liability for these awards over both the annual period in which we determine it is probable that the award will be earned and, for the portion to be settled in shares, over the following three-year vesting period. For the six months ended June 30, 2014 and 2013 the expense recorded for these awards was $330,000 and $152,000, respectively. Cash awards expected to be settled in shares are funded into a trust pursuant to an established Canadian employee benefit plan. Generally, the Canadian trust subsequently acquires Westwood common shares in market transactions and holds such shares until the shares are vested and distributed, or until forfeited. Shares held in the trust are shown on our condensed consolidated balance sheets as treasury shares. During the first quarter of 2014 and the second quarter of 2013, the trust purchased in the open market 11,476 and 20,251 Westwood common shares for approximately $670,000 and $880,000, respectively.  Until shares are acquired by the trust, we measure the liability as a cash-based award included in “Compensation and benefits payable” on our condensed consolidated balance sheets. When the number of shares related to an award is determinable, the award becomes an equity award accounted for similarly to restricted stock, which is described in Note 9.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. The ASU is intended to reduce the frequency of disposals reported as discontinued operations by focusing on strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. The standard will be effective for annual reporting periods beginning after December 15, 2014, although early adoption is permitted. We do not currently expect the adoption of this ASU to have a significant impact on our financial statements.
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which was the result of a joint project by the FASB and International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards. The issuance of a comprehensive and converged standard on revenue recognition is expected to improve the ability of financial statement users to understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The standard will require additional disclosures to help financial statement users better understand the nature, amount, timing, and potential uncertainty of the revenue being recognized. ASU 2014-09 will be effective for annual reporting periods beginning after December 15, 2016, and will require either retrospective application to each prior reporting period presented or retrospective application with the cumulative effect of initially applying the standard recognized at the date of adoption. We are currently evaluating the impact that the application of ASU 2014-09 will have on our financial statements and disclosures.
	In June 2014, the FASB issued ASU 2014-12 Compensation—Stock Compensation (Topic 718) Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period, which establishes specific guidance on how to account for share-based payments for awards with performance targets after the employee completes the requisite service period. Current U.S. GAAP does not contain explicit guidance on how to account for those share-based payments. The standard will be effective for annual reporting periods beginning after December 15, 2015, although early adoption is permitted. We do not currently expect the adoption of this ASU to have a significant impact on our financial statements.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Computation of Basic and Diluted Shares	'
	The following table sets forth the computation of basic and diluted shares (in thousands, except per share and share amounts):
		Three months ended				Six months ended
		June 30,				June 30,
		2014		2013		2014		2013
	Net income	$	8,822	$	4,879	$	14,581	$	7,712
	Weighted average shares outstanding - basic		7,523,347		7,349,868		7,499,016		7,318,688
	Dilutive potential shares from unvested restricted shares		215,803		145,655		221,409		173,704
	Weighted average shares outstanding - diluted		7,739,150		7,495,523		7,720,425		7,492,392
	Earnings per share:
	Basic	$	1.17	$	0.66	$	1.94	$	1.05
	Diluted	$	1.14	$	0.65	$	1.89	$	1.03

Investments_Tables

Investments (Tables)	6 Months Ended
	Jun. 30, 2014
Investment Balances	'
	Investment balances are presented in the table below (in thousands). All investments are carried at fair value, and all investments are accounted for as trading securities.
				Gross		Gross			Estimated
				Unrealized		Unrealized			Market
		Cost		Gains		Losses			Value
	June 30, 2014:
	U.S. Government and Government agency obligations	$	50,905	$	11	$	—		$	50,916
	Money market funds		1,219		—		—			1,219
	Equity funds		2,405		160		(12	)		2,553
	Fixed income funds		3,058		26		—			3,084
	Marketable securities	$	57,587	$	197	$	(12	)	$	57,772
	December 31, 2013:
	U.S. Government and Government agency obligations	$	42,595	$	16	$	—		$	42,611
	Money market funds		8,584		—		—			8,584
	Equity funds		2,130		200		(54	)		2,276
	Fixed income funds		10,984		99		—			11,083
	Marketable securities	$	64,293	$	315	$	(54	)	$	64,554

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Values of Assets Within Fair Value Hierarchy	'
	The following table summarizes the values of our assets as of the dates indicated within the fair value hierarchy (in thousands).
		Level 1		Level 2		Level 3		Total
	As of June 30, 2014:
	Investments in securities:
	Trading	$	55,610	$	2,162	$	—	$	57,772
	Total financial instruments	$	55,610	$	2,162	$	—	$	57,772
	As of December 31, 2013:
	Investments in securities:
	Trading	$	64,554	$	—	$	—	$	64,554
	Total financial instruments	$	64,554	$	—	$	—	$	64,554

Intangible_Assets_Tables

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of Intangible Assets	'
	The following is a summary of our intangible assets at June 30, 2014 and December 31, 2013 (in thousands):
		Weighted
		Average
		Amortization		Gross					Net
		Period		Carrying		Accumulated			Carrying
		(years)		Amount		Amortization			Amount
	June 30, 2014:
	Client relationships		14.2	$	5,005	$	(1,395	)	$	3,610
	Total			$	5,005	$	(1,395	)	$	3,610
	December 31, 2013:
	Client relationships		14.2	$	5,005	$	(1,216	)	$	3,789
	Total			$	5,005	$	(1,216	)	$	3,789
Estimated Amortization Expense for Intangible Assets for the Next Five Years	'
	Estimated amortization expense for intangible assets for the next five years follows (in thousands):
		Estimated
		Amortization
	For the Year ending December 31,	Expense
	2014	$	359
	2015		359
	2016		359
	2017		359
	2018		359

Balance_Sheet_Components_Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2014
Components of Accumulated Other Comprehensive Income (Loss)	'
	The components of accumulated other comprehensive income (loss) were as follows (in thousands):
		As of			As of
		June 30,			December 31,
		2014			2013
	Foreign currency translation adjustment	$	(279	)	$	(257	)
	Accumulated other comprehensive loss	$	(279	)	$	(257	)

Variable_Interest_Entities_Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2014
Variable Interest Entities	'
	The following table displays assets under management, corporate money invested and risk of loss in each vehicle (in millions).
		As of June 30, 2014
		Assets
		Under		Corporate		Risk of
		Management		Investment		Loss
	Westwood Funds®	$	3,290	$	3.5	$	3.5
	Common Trust Funds		2,737		2.1		2.1
	Collective Investment Trusts		324		—		—
	LLCs		262		—		—
	UCITS Fund		839		—		—

Employee_Benefits_Tables

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2014
Total Expense Recorded for Stock Based Compensation	'
	The following table presents the total stock-based compensation expense recorded and the total income tax benefit recognized for stock-based compensation arrangements for the years indicated (in thousands):
		Six months ended
		June 30,
		2014			2013
	Service condition restricted stock expense	$	3,551		$	3,902
	Performance-based restricted stock expense		2,013			1,682
	Restricted stock expense under the Plan		5,564			5,584
	Canada EB Plan restricted stock expense		232			108
	Total stock based compensation expense	$	5,796		$	5,692
Service Condition Restricted Stock Expense	'
Status and Changes in Restricted Stock Grants that are Subject to a Service Condition	'
	As of June 30, 2014, there was approximately $29.0 million of unrecognized compensation expense for restricted stock grants under the Plan, which is expected to be recognized over a remaining weighted-average period of 2.8 years. Our two types of restricted stock grants under the Plan are discussed below.
					Weighted Average
					Grant Date Fair
	Restricted shares subject only to a service condition:	Shares			Value
	Non-vested, January 1, 2014		511,060		$	40.49
	Granted		182,990			58.78
	Vested		(186,680	)		38.76
	Forfeited		(31,291	)		47.87
	Non-vested, June 30, 2014		476,079			47.72
Performance - Based Restricted Stock Expense	'
Status and Changes in Restricted Stock Grants that are Subject to a Service Condition	'
	Under the Plan, certain key employees were granted restricted shares that vest over five years provided that annual performance goals established by the Compensation Committee of Westwood’s board of directors are met. In February 2014, the Compensation Committee established the 2014 goal as adjusted pre-tax income of at least $34.0 million, representing a five-year compound annual growth rate in excess of 10% over annual adjusted pre-tax income recorded in 2009. Our adjusted pre-tax income is determined based on our audited financial statements and is equal to income before income taxes increased by expenses incurred for the year for (i) incentive compensation for all officers and employees and (ii) performance-based restricted stock awards, excluding start up, non-recurring and similar expense items. In the first quarter of 2014, we concluded that it was probable that we would meet the performance goals required to vest the applicable percentage of the performance-based restricted shares this year and began recording expense related to those shares. Each year the Compensation Committee establishes a specific goal for that year’s vesting of the restricted shares, which historically is based upon Westwood’s adjusted pre-tax income, as defined. If the performance goal is not met in any year during the vesting period, the Compensation Committee may establish a goal for a subsequent vesting period, which, if achieved or exceeded, may result in full or partial vesting of the shares that did not otherwise become vested in a prior year. In no event, under the current grants, will the maximum number of shares that may become vested over the vesting period exceed 175,000 shares in the case of our Chief Executive Officer or 349,565 shares collectively in the case of certain other employees. If a portion of the performance-based restricted shares do not vest, no compensation expense is recognized for that portion and any previously recognized compensation expense related to shares that do not vest would be reversed.
					Weighted Average
	Restricted shares subject to service and performance conditions:				Grant Date Fair
		Shares			Value
	Non-vested, January 1, 2014		227,000		$	40.84
	Granted		59,565			57.07
	Vested		—			—
	Forfeited		—			—
	Non-vested, June 30, 2014		286,565			44.21

Segment_Reporting_Tables

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2014
Intersegment Balances	'
								Westwood
		Advisory			Trust			Holdings			Eliminations			Consolidated
	Three months ended June 30, 2014
	Net fee revenues from external sources	$	25,538		$	5,151		$	—		$	—		$	30,689
	Net intersegment revenues		3,283			—			—			(3,283	)		—
	Net interest and dividend revenue		43			—			—			—			43
	Other revenue		173			—			—			—			173
	Total revenues	$	29,037		$	5,151		$	—		$	(3,283	)	$	30,905
	Economic Earnings	$	12,436		$	605		$	(1,465	)	$	—		$	11,576
	Less:   Restricted stock expense														2,626
	Intangible amortization														90
	Deferred taxes on goodwill														38
	Net income													$	8,822
	Segment assets	$	116,433		$	15,876		$	—		$	(17,116	)	$	115,193
	Segment goodwill	$	5,219		$	6,036		$	—		$	—		$	11,255
	Three months ended June 30, 2013
	Net fee revenues from external sources	$	19,021		$	4,574		$	—		$	—		$	23,595
	Net intersegment revenues		2,324			4			—			(2,328	)		—
	Net interest and dividend revenue		145			—			—			—			145
	Other revenue		(264	)		(1	)		—			—			(265	)
	Total revenues	$	21,226		$	4,577		$	—		$	(2,328	)	$	23,475
	Economic Earnings	$	7,478		$	515		$	—		$	—		$	7,993
	Less:   Restricted stock expense														2,986
	Intangible amortization														90
	Deferred taxes on goodwill														38
	Net income													$	4,879
	Segment assets	$	94,069		$	13,756		$	—		$	(12,630	)	$	95,195
	Segment goodwill	$	5,219		$	6,036		$	—		$	—		$	11,255
								Westwood
		Advisory			Trust			Holdings			Eliminations			Consolidated
	Six months ended June 30, 2014
	Net fee revenues from external sources	$	46,290		$	10,179		$	—		$	—		$	56,469
	Net intersegment revenues		6,664			—			—			(6,664	)		—
	Net interest and dividend revenue		165			1			—			—			166
	Other revenue		218			1			—			—			219
	Total revenues	$	53,337		$	10,181		$	—		$	(6,664	)	$	56,854
	Economic Earnings	$	23,105		$	827		$	(3,299	)	$	—		$	20,633
	Less:   Restricted stock expense														5,796
	Intangible amortization														180
	Deferred taxes on goodwill														76
	Net income													$	14,581
	Six months ended June 30, 2013
	Net fee revenues from external sources	$	34,568		$	8,791		$	—		$	—		$	43,359
	Net intersegment revenues		4,257			9			—			(4,266	)		—
	Net interest and dividend revenue		277			1			—			—			278
	Other revenue		(61	)		(1	)		—			—			(62	)
	Total revenues	$	39,041		$	8,800		$	—		$	(4,266	)	$	43,575
	Economic Earnings	$	12,767		$	893		$	—		$	—		$	13,660
	Less:   Restricted stock expense														5,692
	Intangible amortization														180
	Deferred taxes on goodwill														76
	Net income													$	7,712

Description_of_the_Business_De

Description of the Business (Details Textual)	6 Months Ended
	Jun. 30, 2014
Description of the Business (Textual) [Abstract]	'
Date of incorporation	12-Dec-01

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details Textual) (USD $)	6 Months Ended	9 Months Ended			3 Months Ended	6 Months Ended
	Jun. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Jun. 30, 2013	Mar. 31, 2014	Jun. 30, 2013	Jun. 30, 2014
					Mutual Funds	Mutual Funds	Westwood International Advisors Inc
Summary of Significant Accounting Policies (Textual) [Abstract]	'	'	'	'	'	'	'
Goodwill impairment loss	'	$0	'	'	'	'	'
Unrecognized tax benefits	0	'	0	'	'	'	'
Restricted shares granted to employees vesting period	'4 years	'	'	'	'	'	'3 years
Restricted shares granted to employees, maximum vesting year	'2015	'	'	'	'	'	'
Accrued liability on awards based on the performance of certain investment products	330,000	'	'	152,000	'	'	'
Purchase of treasury stock, shares	'	'	'	'	11,476	20,251	'
Purchase of treasury stock	$5,839,000	'	'	'	$670,000	$880,000	'

Earnings_Per_Share_Details_Tex

Earnings Per Share (Details Textual)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Earnings per share (Textual) [Abstract]	'	'
Anti-dilutive restricted shares or options	37,000	0

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Computation of Basic and Diluted Shares	'	'	'	'
Net income	$8,822	$4,879	$14,581	$7,712
Weighted average shares outstanding - basic	7,523,347	7,349,868	7,499,016	7,318,688
Dilutive potential shares from unvested restricted shares	215,803	145,655	221,409	173,704
Weighted average shares outstanding - diluted	7,739,150	7,495,523	7,720,425	7,492,392
Earnings per share:	'	'	'	'
Basic	$1.17	$0.66	$1.94	$1.05
Diluted	$1.14	$0.65	$1.89	$1.03

Investments_Details

Investments (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Investment balances	'	'
Cost	$57,587	$64,293
Gross Unrealized Gains	197	315
Gross Unrealized Losses	-12	-54
Estimated Market Value	57,772	64,554
U.S. Government and Government Agency Obligations	'	'
Investment balances	'	'
Cost	50,905	42,595
Gross Unrealized Gains	11	16
Estimated Market Value	50,916	42,611
Fixed Income Funds	'	'
Investment balances	'	'
Cost	3,058	10,984
Gross Unrealized Gains	26	99
Estimated Market Value	3,084	11,083
Money Market Funds	'	'
Investment balances	'	'
Cost	1,219	8,584
Estimated Market Value	1,219	8,584
Equity Funds	'	'
Investment balances	'	'
Cost	2,405	2,130
Gross Unrealized Gains	160	200
Gross Unrealized Losses	-12	-54
Estimated Market Value	$2,553	$2,276

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investments in securities:	'	'
Trading	$57,772	$64,554
Fair Value, Measurements, Recurring	'	'
Investments in securities:	'	'
Trading	57,772	64,554
Total financial instruments	57,772	64,554
Fair Value, Measurements, Recurring | Level 1	'	'
Investments in securities:	'	'
Trading	55,610	64,554
Total financial instruments	55,610	64,554
Fair Value, Measurements, Recurring | Level 2	'	'
Investments in securities:	'	'
Trading	2,162	'
Total financial instruments	$2,162	'

Intangible_Assets_Details

Intangible Assets (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Summary of intangible assets	'	'
Gross Carrying Amount	$5,005	$5,005
Accumulated Amortization	-1,395	-1,216
Net Carrying Amount	3,610	3,789
Client Relationships	'	'
Summary of intangible assets	'	'
Weighted Average Amortization Period (years)	'14 years 2 months 12 days	'14 years 2 months 12 days
Gross Carrying Amount	5,005	5,005
Accumulated Amortization	-1,395	-1,216
Net Carrying Amount	$3,610	$3,789

Intangible_Assets_Details_Text

Intangible Assets (Details Textual) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Intangible Assets (Textual) [Abstract]	'	'	'	'
Amortization expense	$90	$90	$180	$180

Intangible_Assets_Details_1

Intangible Assets (Details 1) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Estimated amortization expense for intangible assets for the next five years	'
2014	$359
2015	359
2016	359
2017	359
2018	$359

Balance_Sheet_Components_Detai

Balance Sheet Components (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Components of accumulated other comprehensive income	'	'
Foreign currency translation adjustment	($279)	($257)
Accumulated other comprehensive loss	($279)	($257)

Balance_Sheet_Components_Detai1

Balance Sheet Components (Details Textual) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Balance Sheet Components (Textual) [Abstract]	'	'
Accrued dividends	$994	$1,266

Variable_Interest_Entities_Det

Variable Interest Entities (Details Textual)	6 Months Ended
	Jun. 30, 2014
	Number_of_Limited_Partnership
	Number_of_Limited_Liability_Companies
Variable Interest Entities (Textual) [Abstract]	'
Number of limited liability companies in which some clients hold their investments	10
Number of clients in which investment advisory services are provided	2

Variable_Interest_Entities_Det1

Variable Interest Entities (Details) (USD $)	Jun. 30, 2014
In Millions, unless otherwise specified
Westwood Funds	'
Variable Interest Entities	'
Assets Under Management	$3,290
Corporate Investment	3.5
Risk of Loss	3.5
Common Trust Funds	'
Variable Interest Entities	'
Assets Under Management	2,737
Corporate Investment	2.1
Risk of Loss	2.1
Collective Investment Trusts	'
Variable Interest Entities	'
Assets Under Management	324
LLCs	'
Variable Interest Entities	'
Assets Under Management	262
UCITS Fund	'
Variable Interest Entities	'
Assets Under Management	$839

Employee_Benefits_Details_Text

Employee Benefits (Details Textual)

1 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

6 Months Ended

6 Months Ended

Feb. 28, 2014

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

USD ($)

USD ($)

USD ($)

Mutual Funds

Mutual Funds

Mutual Funds

Mutual Funds

Deferred Compensation Share Based Payments

Other Senior Officers

Chief Executive Officer

Canada EB Plan Restricted Stock Expense

Canada EB Plan Restricted Stock Expense

Restricted Stock

Restricted Stock

Westwood International Advisors Inc

Westwood International Advisors Inc

Westwood International Advisors Inc

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Canada EB Plan Restricted Stock Expense

Canada EB Plan Restricted Stock Expense

USD ($)

CAD

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)

'

3,898,100

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares remain available for issuance

'

505,000

'

'

'

'

'

'

'

'

'

'

'

'

'

131,000

131,000

Purchase of treasury stock, shares

'

'

'

11,476

'

20,251

'

'

'

'

'

'

'

'

'

31,727

31,727

Fund purchases of common stock

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$9,100,000

10,000,000

Share Price

'

'

'

'

'

'

'

$60.04

'

'

'

'

'

'

'

$60.04

'

Remaining unrecognized compensation expense

'

29,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Remaining unrecognized compensation cost recognized over a remaining weighted average period

'

'

'

'

'

'

'

'

'

'

'

'

'2 years 9 months 18 days

'

'

'

'

Adjusted pre-tax income

34,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Annual growth rate period

'5 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Compound annual growth

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum number of shares which may become vested over the vesting period

'

'

'

'

'

'

'

'

175,000

349,565

'

'

'

'

'

'

'

Percentage of deferred share units vesting after two years of service

'

20.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of deferred share units vesting after three years of service

'

40.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of deferred share units vesting after four years of service

'

60.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of deferred share units vesting after five years of service

'

80.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Restricted shares granted to employees vesting period

'

'4 years

'

'

'

'

'

'6 years

'

'

'

'

'

'

'3 years

'

'

Accrued liability

'

'

'

'

'

'

'

76,000

'

'

'

'

'

'

'

'

'

Deferred share units, issued and outstanding

'

'

'

'

'

'

'

3,729

'

'

'

'

'

'

'

'

'

Mutual fund vesting period

'

'

'

'

'1 year

'

'

'

'

'

'

'

'

'

'

'

'

Service period of mutual fund share incentive award

'

'

'

'

'2 years

'

'

'

'

'

'

'

'

'

'

'

'

Expense related to mutual fund share incentive awards

'

5,796,000

5,692,000

'

310,000

1,200,000

'

'

'

'

232,000

108,000

5,564,000

5,584,000

'

'

'

Accrued liability related to mutual fund incentive awards

'

'

'

'

$310,000

'

$1,900,000

'

'

'

'

'

'

'

'

'

'

Employee_Benefits_Details

Employee Benefits (Details) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Total expense recorded for stock based compensation	'	'
Total stock based compensation expense	$5,796,000	$5,692,000
Service Condition Restricted Stock Expense	'	'
Total expense recorded for stock based compensation	'	'
Total stock based compensation expense	3,551,000	3,902,000
Performance - Based Restricted Stock Expense	'	'
Total expense recorded for stock based compensation	'	'
Total stock based compensation expense	2,013,000	1,682,000
Restricted Stock	'	'
Total expense recorded for stock based compensation	'	'
Total stock based compensation expense	5,564,000	5,584,000
Canada EB Plan Restricted Stock Expense	'	'
Total expense recorded for stock based compensation	'	'
Total stock based compensation expense	$232,000	$108,000

Employee_Benefits_Details_1

Employee Benefits (Details 1) (Service Condition Restricted Stock Expense, USD $)	6 Months Ended
	Jun. 30, 2014
Service Condition Restricted Stock Expense	'
Restricted shares subject only to a service condition:	'
Non-vested, January 1, 2014	511,060
Granted	182,990
Vested	-186,680
Forfeited	-31,291
Non-vested, June 30, 2014	476,079
Non-vested, January 1, 2014	$40.49
Granted	$58.78
Vested	$38.76
Forfeited	$47.87
Non-vested, June 30, 2014	$47.72

Employee_Benefits_Details_2

Employee Benefits (Details 2) (Restricted Shares Subject to Service and Performance Conditions, USD $)	6 Months Ended
	Jun. 30, 2014
Restricted Shares Subject to Service and Performance Conditions	'
Restricted shares subject only to a service condition:	'
Non-vested, January 1, 2014	227,000
Granted	59,565
Vested	'
Forfeited	'
Non-vested, June 30, 2014	286,565
Non-vested, January 1, 2014	$40.84
Granted	$57.07
Vested	'
Forfeited	'
Non-vested, June 30, 2014	$44.21

Related_Party_Transactions_Det

Related Party Transactions (Details Textual) (USD $)	6 Months Ended
	Jun. 30, 2014
Related Party Transaction [Line Items]	'
Fees earned from UCITS Fund	$403,000

Commitments_and_Contingencies_

Commitments and Contingencies (Details Textual)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
	USD ($)	CAD	First Lawsuit by AGF	Second Lawsuit by AGF
				CAD
Loss Contingencies [Line Items]	'	'	'	'
Lawsuit Filing Date	'	'	'On August 3, 2012, AGF Management Limited and AGF Investments Inc. (collectively, bAGFb) filed a lawsuit in the Ontario Superior Court of Justice against Westwood, certain Westwood employees and the executive recruiting firm of Warren International, LLC. (bWarrenb).	'On November 6, 2012, AGF filed a second lawsuit against Westwood, Westwood Management and an employee of a Westwood subsidiary
General damages	'	10,000,000	'	5,000,000
Punitive damages, unspecified special damages, interest and costs	'	'	'	1,000,000
Commitments and Contingencies (Textual) [Abstract]	'	'	'	'
Litigation counter claim for general damages	'	1,000,000	'	'
Litigation counter claim for special damages	'	10,000,000	'	'
Litigation counter claim for punitive damages	'	1,000,000	'	'
Percentage of defense costs which will be covered by insurance	50.00%	50.00%	'	'
Insurance proceeds	240,000	'	'	'
Loss contingency, Receivables	$146,000	'	'	'

Segment_Reporting_Details

Segment Reporting (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Intersegment balances	'	'	'	'	'
Net fee revenues from external sources	$30,689	$23,595	$56,469	$43,359	'
Net interest and dividend revenue	43	145	166	278	'
Other revenue	173	-265	219	-62	'
Total revenues	30,905	23,475	56,854	43,575	'
Economic Earnings	11,576	7,993	20,633	13,660	'
Less: Restricted stock expense	2,626	2,986	5,796	5,692	'
Intangible amortization	90	90	180	180	'
Deferred taxes on goodwill	38	38	76	76	'
Net income	8,822	4,879	14,581	7,712	'
Segment assets	115,193	95,195	115,193	95,195	116,020
Segment goodwill	11,255	11,255	11,255	11,255	11,255
Operating Segments | Advisory	'	'	'	'	'
Intersegment balances	'	'	'	'	'
Net fee revenues from external sources	25,538	19,021	46,290	34,568	'
Net intersegment revenues	3,283	2,324	6,664	4,257	'
Net interest and dividend revenue	43	145	165	277	'
Other revenue	173	-264	218	-61	'
Total revenues	29,037	21,226	53,337	39,041	'
Economic Earnings	12,436	7,478	23,105	12,767	'
Segment assets	116,433	94,069	116,433	94,069	'
Segment goodwill	5,219	5,219	5,219	5,219	'
Operating Segments | Trust	'	'	'	'	'
Intersegment balances	'	'	'	'	'
Net fee revenues from external sources	5,151	4,574	10,179	8,791	'
Net intersegment revenues	'	4	'	9	'
Net interest and dividend revenue	'	'	1	1	'
Other revenue	'	-1	1	-1	'
Total revenues	5,151	4,577	10,181	8,800	'
Economic Earnings	605	515	827	893	'
Segment assets	15,876	13,756	15,876	13,756	'
Segment goodwill	6,036	6,036	6,036	6,036	'
Corporate, Non-Segment | Westwood Holdings	'	'	'	'	'
Intersegment balances	'	'	'	'	'
Economic Earnings	-1,465	'	-3,299	'	'
Intersegment Eliminations	'	'	'	'	'
Intersegment balances	'	'	'	'	'
Net intersegment revenues	-3,283	-2,328	-6,664	-4,266	'
Total revenues	-3,283	-2,328	-6,664	-4,266	'
Segment assets	($17,116)	($12,630)	($17,116)	($12,630)	'