Wright Investors' Service (IWSH) 10-Q12 Nov 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2014	Nov. 04, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Entity Registrant Name	'Wright Investors Service Holdings, Inc.	'
Entity Central Index Key	'0001279715	'
Current Fiscal Year End Date	'--12-31	'
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	18,494,129

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues	'	'	'	'
Investment management services	$647	$659	$1,974	$1,991
Other investment advisory services	664	648	1,952	2,050
Financial research and related data	155	160	449	437
Total revenues	1,466	1,467	4,375	4,478
Expenses	'	'	'	'
Selling, general and administrative	2,282	2,493	6,884	7,254
Total expenses	2,282	2,493	6,884	7,254
Operating loss	-816	-1,026	-2,509	-2,776
Investment and other income, net	-22	-56	-37	-148
Gain on sale of investment in MXL	'	'	719	'
Change in fair value of liability for contingent consideration	-27	9	-109	-79
Loss from continuing operations before income taxes	-865	-1,073	-1,936	-3,003
Income tax benefit	54	1	115	2
Loss from continuing operations	-811	-1,072	-1,821	-3,001
Income (loss) from discontinued operations, net of taxes (Note 12 (a))	'	-207	315	-2,961
Net loss	($811)	($1,279)	($1,506)	($5,962)
Basic and diluted (loss) income per share	'	'	'	'
Continuing operations	($0.04)	($0.06)	($0.10)	($0.16)
Discontinued operations	'	($0.01)	$0.02	($0.15)
Net loss	($0.04)	($0.07)	($0.08)	($0.31)

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Current assets	'	'
Cash and cash equivalents	$11,930	$12,566
Short-term investments	146	132
Accounts receivable, net	362	322
Refundable and prepaid income taxes	21	16
Prepaid expenses and other current assets	458	393
Total current assets	12,917	13,429
Property and equipment, net	34	49
Intangible assets, net	3,441	3,918
Goodwill	3,364	3,364
Investment in undeveloped land	355	355
Other assets	107	325
Total assets	20,218	21,440
Current liabilities	'	'
Accounts payable and accrued expenses	1,352	1,402
Deferred revenue	13	14
Current portion of officers retirement bonus liability	101	100
Total current liabilities	1,466	1,516
Liability for contingent consideration	615	506
Officers retirement bonus liability, net of current portion	780	802
Total liabilities	2,861	2,824
Stockholders' equity	'	'
Common stock	190	190
Additional paid-in capital	33,358	33,111
Accumulated deficit	-14,832	-13,326
Treasury stock, at cost	-1,359	-1,359
Total stockholders' equity	17,357	18,616
Total liabilities and stockholders' equity	$20,218	$21,440

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net loss	($1,506)	($5,962)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	492	497
Change in liability for contigent consideration	109	79
Equity based compensation, including issuance of stock to directors	247	244
Gain on sale of investment in MXL	-719	'
Changes in other operating items:	'	'
Accounts receivable	-40	140
Investment securities	-14	50
Deferred revenue	-1	8
Officers retirement bonus liability	-21	16
Refundable and prepaid income tax	-5	6
Income tax payable	'	-227
Prepaid expenses and other current assets	-122	-152
Settlement payable	'	2,375
Accounts payable and accrued expenses	-50	-128
Net cash used in operating activities	-1,630	-3,054
Cash flows from investing activities:	'	'
Proceeds from sale of investment in MXL	994	'
Additions to property and equipment	'	-6
Net cash provided by (used in) investing activities	994	-6
Net decrease in cash and cash equivalents	-636	-3,060
Cash and cash equivalents at the beginning of the period	12,566	18,883
Cash and cash equivalents at end of period	11,930	15,823
Net cash paid during the period for	'	'
Income taxes	$23	$13

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock [Member]	Additional paid-in capital [Member]	Accumulated deficit [Member]	Treasury stock, at cost [Member]
In Thousands, except Share data	Total	Common Stock [Member]	Additional paid-in capital [Member]	Accumulated deficit [Member]	Treasury stock, at cost [Member]
Balance at Dec. 31, 2013	$18,616	$190	$33,111	($13,326)	($1,359)
Balance, shares at Dec. 31, 2013	'	19,040,416	'	'	'
Net loss	-1,506	'	'	-1,506	'
Equity based compensation expense	221	'	221	'	'
Issuance of stock to directors	26	'	26	'	'
Issuance of stock to directors, shares	'	13,752	'	'	'
Balance at Sep. 30, 2014	$17,357	$190	$33,358	($14,832)	($1,359)
Balance, shares at Sep. 30, 2014	'	19,054,168	'	'	'

Basis_of_presentation_and_desc

Basis of presentation and description of activities	9 Months Ended
	Sep. 30, 2014
Basis of presentation and description of activities [Abstract]	'
Basis of presentation and description of activities	'
	1	Basis of presentation and description of activities


	Basis of presentation

	The accompanying interim financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. The information and note disclosures normally included in complete financial statements have been condensed or omitted pursuant to such rules and regulations. The Condensed Consolidated Balance Sheet as of December 31, 2013 has been derived from audited financial statements. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2013 as presented in our Annual Report on Form 10-K. In the opinion of management, this interim information includes all material adjustments, which are of a normal and recurring nature, necessary for a fair presentation. The results for the 2014 interim periods are not necessarily indicative of results to be expected for the entire year.
	Description of activities

	On February 4, 2013, National Patent Development Corporation changed its name to Wright Investors' Service Holdings, Inc. (hereinafter referred to as the “Company” or “Wright Holdings”).

	On January 15, 2010, the Company completed the sale to The Merit Group, Inc. (“Merit”) of all of the issued and outstanding stock of the Company's wholly-owned subsidiary, Five Star Products, Inc., the holding company and sole stockholder of Five Star Group, Inc., for cash. Upon the consummation of the sale, the Company became a “shell company”, as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended. As used herein, references to “Five Star” refer to Five Star Products Inc. or Five Star Group Inc., or both, as the context requires.

	On December 19, 2012 (the “Closing Date”), the Company, completed the acquisition of The Winthrop Corporation, a Connecticut corporation (“Winthrop”) pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”) dated June 18, 2012. Winthrop, through its wholly-owned subsidiaries Wright Investors' Service, Inc. (“Wright”), Wright Investors' Service Distributors, Inc. (“WISDI”) and Wright's wholly-owned subsidiary, Wright Private Asset Management, LLC (“WPAM”) (collectively, the “Wright Companies”), offers investment management services, financial advisory services and investment research to large and small investors, both taxable and tax exempt. WISDI is a registered broker dealer with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities and Exchange Commission. In accordance with the Merger Agreement, a wholly-owned newly formed subsidiary of the Company, was merged with and into Winthrop and Winthrop became a wholly-owned subsidiary of the Company.

	As a result of the completion of the Merger described above, the Company is no longer a “shell company” and substantially all of the Company's business operations are carried out through Winthrop and its subsidiaries, the Wright Companies.

Liability_for_Contingent_Consi

Liability for Contingent Consideration	9 Months Ended
	Sep. 30, 2014
Liability for Contingent Consideration [Abstract]	'
Liability for Contingent Consideration	'
	2	Liability for Contingent Consideration

	In connection with the Company's acquisition of Winthrop on December 19, 2012, the Company has agreed to pay contingent consideration in cash to a holder of Winthrop common stock who received 852,228 shares of Company Common Stock to the extent that such shares have a value of less than $1,900,000 on the expiration of the three year period based on the average closing price of the Company's Common Stock for the ten trading days prior to such date.

	A liability was recognized for an estimate of the acquisition date fair value of the acquisition-related contingent consideration which may be paid. The fair value was calculated by applying a lattice model, which takes into account the potential for the Company's stock price per share being less than $2.23 per share at the end of the 3 year lock-up period. The fair value measurement is based on significant unobservable inputs that are supported by little market activity and reflect the Company's own assumptions. Key assumptions include expected volatility (50%) in the Company's common stock and the risk free interest rate (0.38%) during the above period. Changes in the fair value of the contingent consideration subsequent to the acquisition date are being recognized in earnings until the liability is eliminated or settled. The fair value of the liability was $615,000 on September 30, 2014. The Company recognized income (expense) of ($27,000) and ($109,000), respectively, for the change in the value for the quarter and nine months ended September 30, 2014 as compared to $9,000 and ($79,000), respectively, for the quarter and nine months ended September 30, 2013.

Sale_of_MXL_investment

Sale of MXL investment	9 Months Ended
	Sep. 30, 2014
Sale of MXL investment [Abstract]	'
Sale of MXL investment	'
	3.	Sale of MXL investment

	At December 31, 2013, the Company held a 19.9% equity investment in a privately-held company, MXL, which is engaged in the plastic molding and precision coating businesses. At December 31, 2013, this investment was included in other assets at cost of $275,000.

	On February 3, 2014, MXL exercised its right to purchase the Company's 19.9% interest. The Company received $994,000 for its 19.9% interest on March 26, 2014, resulting in a gain of $719,000 for the nine months ended September 30, 2014.

Per_share_data

Per share data	9 Months Ended
	Sep. 30, 2014
Per share data [Abstract]	'
Per share data	'
	4.	Per share data

	Loss per share for the three months ended September 30, 2014 and 2013 respectively, is calculated based on 19,096,000 and 18,953,000 weighted average outstanding shares of common stock. Included in the share number are vested Restricted Stock Units (“RSUs”) of 608,526 and 479,280 for the three months ended September 30, 2014 and 2013, respectively.

	Loss per share for the nine months ended September 30, 2014 and 2013 respectively, is calculated based on 19,089,000 and 18,951,000 weighted average outstanding shares of common stock. Included in the share number are vested RSUs of 607,343 and 479,280 for the nine months ended September 30, 2014 and 2013, respectively.

	Options for 3,250,000 shares of common stock for the quarter and nine months ended September 30, 2014 and 2013, and unvested RSUs for 286,256 and 387,738 shares of common stock, respectively, for the quarter and nine months ended September 30, 2014 and 2013 were not included in the diluted computation as their effect would be anti-dilutive since the Company has losses from continuing operations for both periods.

Capital_Stock

Capital Stock	9 Months Ended
	Sep. 30, 2014
Capital Stock [Abstract]	'
Capital Stock	'
	5.	Capital Stock

	The Company's Board of Directors, without any vote or action by the holders of common stock, is authorized to issue preferred stock from time to time in one or more series and to determine the number of shares and to fix the powers, designations, preferences and relative, participating, optional or other special rights of any series of preferred stock.

	The Board of Directors authorized the Company to repurchase up to 5,000,000 outstanding shares of common stock from time to time either in open market or privately negotiated transactions. At September 30, 2014, the Company had repurchased 1,791,821 shares of its common stock and a total of 3,208,179 shares, remained available for repurchase at September 30, 2014.

Shortterm_investments

Short-term investments:

9 Months Ended

Sep. 30, 2014

Short-term investments: [Abstract]

Short-term investments:

The Financial Accounting Standards Board has issued authoritative accounting guidance that defines fair value, establishes a framework for measuring fair value and establishes a fair value hierarchy which prioritizes the inputs to valuation techniques. The guidance clarifies that fair value should be based on assumptions that market participants would use when pricing an asset or liability. The three levels of fair value hierarchy are described below:

•

Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

•

Level 2 – Quoted prices in active markets for similar assets and liabilities or quoted prices in less active, dealer or broker markets;

•

Level 3 – Prices or valuations that require inputs that are both significant to the fair value measurement and are unobservable.

Short-term investments, which consist of mutual funds managed by a subsidiary of Winthrop, are stated at the net asset value of the funds or the year-end closing price of the underlying security (Level 1) and are accounted for as trading securities with unrealized gain or loss included in the Statement of Operations.

The following is a summary of current short-term investments at September 30, 2014 (in thousands):

30-Sep-14

Cost

Unrealized

Estimated

Gains

Fair Value

Mutual funds

114

146

114

146

Incentive_stock_plans_and_stoc

Incentive stock plans and stock based compensation

9 Months Ended

Sep. 30, 2014

Incentive stock plans and stock based compensation [Abstract]

Incentive stock plans and stock based compensation

The Company has a stock-based compensation plan for employees and non-employee members of its Board of Directors. The plan provides for discretionary grants of stock options, restricted shares, and other stock-based awards. The Company's plan is administered by the Compensation Committee of the Board of Directors, which consists solely of non-employee directors. No stock options were granted during the nine months ended September 30, 2014.

Information with respect to the Company's outstanding stock options for the nine months ended September 30, 2014 is as follows:

Stock

Weighted

Aggregate

Options

Average

Intrinsic

Exercise

Contractual

Value

Price

Term

Options outstanding at January 1, 2014

3,250,000

2.31

3.6

Options outstanding at September 30, 2014

3,250,000

2.31

2.8

171,000

Options exercisable at September 30, 2014

3,250,000

2.31

2.8

171,000

The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option.

Compensation expense related to option grants amounted to $0 for the quarter and nine months ended September 30, 2014 and $0 and $20,000 for the quarter and nine months ended September 30, 2013, respectively. As of September 30, 2014, there was no additional unrecognized compensation cost related to non-vested options.

Restricted stock units

As a result of the Winthrop acquisition, the Company issued a total of 867,018 RSUs on the closing date to be settled in shares of Company common stock as follows:

479,280 RSUs were granted to four key executives of Winthrop, which vested as of the Closing Date and are subject to post-vesting restrictions on sale for three years. The RSUs were valued at the closing price of the Company's common stock of $2.52, less a 20% discount for post vesting restrictions on sale, or $2.02 per share. The total value of these RSUs of $966,000, were accounted for as compensation and charged to retention bonus expense on the closing date.

370,000 RSUs were granted to four key executives, which vest equally over three years, with the first third vesting one year from the Closing Date. The RSUs are valued based on the closing price of the Company's common stock on the Closing Date of $2.52, less an average discount of 11% for post-vesting restrictions on sale until the three year anniversary of the grant date, or an average price per share of $2.25. The Company recorded compensation expense of $69,000 and $208,000, respectively, for the quarters and nine months ended September 30, 2014 and 2013 related to these RSUs. The total unrecognized compensation expense related to these unvested RSUs at September 30, 2014 is $322,000, which will be recognized over the remaining vesting period of approximately 1.5 years.

17,738 RSUs were granted to certain employees of the Company on February 4, 2013, which vest equally over three years, with the first third vesting on February 4, 2014. At September 30, 2014, 14,384 of the RSUs were still outstanding. The RSUs are valued based on the closing price of the Company's common stock on February 4, 2013 of $2.40, less an average discount of 11% for post-vesting restrictions on sale until the three year anniversary of the grant date, or an average price per share of $2.25. The Company recorded compensation expense of $3,000 and $8,000, respectively, for the quarter and nine months ended September 30, 2014 and $3,000 and $9,000, respectively, for the quarter and nine months ended September 30, 2013, related to these RSUs. The total unrecognized compensation expense related to these unvested RSUs at September 30, 2014 is $14,000, which will be recognized over the remaining vesting period of approximately 1.5 years.

On June 10, 2014, 30,000 RSUs were granted to an employee which will vest on the third anniversary of the individual's employment, assuming the individual is still employed at that time. The RSUs are valued based on the closing price of the Company's common stock on June 10, 2014 of $1.90. The Company recorded compensation expense of $4,000 and $5,000 for the quarter and nine months ended September 30, 2014, respectively, related to these RSUs. The total unrecognized compensation expense related to these unvested RSUs at September 30, 2014 is $51,000, which will be recognized over the remaining vesting period of approximately 2.75 years.

Intangible_Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2014
Intangible Assets [Abstract]	'
Intangible Assets	'
	8.	Intangible Assets

	At September 30, 2014, intangible assets subject to amortization which were recorded in connection with the acquisition of Winthrop consisted of the following (in thousands):

		Intangible	Estimated	Gross		Accumulated		Net carrying
			useful life	carrying		Amortization		amount
				amount


	Investment management and Advisory Contracts		9 years	$	3,181	$	629	$	2,552
	Trademarks		10 years		433		77		356
	Proprietary software and		4 years		960		427		533
	technology
				$	4,574	$	1,133	$	3,441

	For the nine months ended September 30, 2014 and 2013 amortization expense was $478,000 each period. Estimated amortization expense for each of the five succeeding years and thereafter is as follows (in thousands):




	Year ending December 31,
	2014 (remainder)
	2015		$159
	2016		637
	2017		630
			397
	2018		397
			1,221
	2019-2023		$3,441

Related_party_transactions

Related party transactions	9 Months Ended
	Sep. 30, 2014
Related party transactions [Abstract]	'
Related party transactions	'
	9.	Related party transactions

	Effective June 1, 2010, the Company relocated its headquarters to the offices of Bedford Oak in Mount Kisco, New York. Bedford Oak is controlled by Harvey P. Eisen, Chairman, Chief Executive Officer and a director of the Company. From June 1, 2010 through August 31, 2012, the Company had been subleasing a portion of the Bedford Oak space and had access to various administrative support services on a month-to-month basis at a rate of approximately $19,700 per month.

	On October 31, 2012, the Company's Audit Committee approved an increase to approximately $40,700 per month (effective as of September 1, 2012) in the monthly sublease and administrative support services rate, which increased rate the Company believes, is necessary to provide for the increased personnel and space requirements necessary for an operating company.

	On May 13, 2014, the Company's Audit Committee approved a decrease to approximately $27,600 per month (effective as of June 1, 2014) in the monthly sublease and administrative support services rate, which decreased rate is part of the Company's effort to control and reduce costs. Selling general and administrative expenses for the nine months ended September 30, 2014 and 2013, includes $314,000 and $366,000, respectively, and for the three months ended September 30, 2014 and September 30, 2013 includes $83,000 and $122,000, respectively, related to the sublease arrangement with Bedford Oak. See Note 12 (c) for a description and the terms of the Company's recent sublease transaction for its new corporate headquarters.


	Wright acts as an investment advisor, its subsidiary acts as a principal underwriter and one officer of Winthrop is also an officer for a family of mutual funds from which investment management and distribution fees are earned based on the net asset values of the respective funds. Such fees, which are included in Other investment advisory services, amounted to $ 213,000 and $639,000 for the three and nine months ended September 30, 2014, respectively, and $231,000 and $742,000 for the three and nine months ended September 30, 2013, respectively.

Income_taxes

Income taxes	9 Months Ended
	Sep. 30, 2014
Income taxes [Abstract]	'
Income taxes	'
	10.	Income taxes


	For the three and nine months ended September 30, 2014, the Company recorded an income tax benefit from continuing operations of $54,000 and $115,000, respectively, which represents a combined federal and state benefit of $65,000 and $145,000, respectively, (based on the estimated annual effective tax rate) utilizing the loss from continuing operations against income from discontinued operations, offset by minimum state taxes of $11,000 and $30,000, respectively. In addition, for the nine months ended September 30, 2014, the Company recorded income tax expense of $210,000 attributable to income from discontinued operations. For the three and nine months ended September 30, 2013, the income tax expense related to continuing operations of $1,000 and $2,000, respectively, substantially represents minimum state income taxes net of a reduction in the liability for uncertain tax positions due to a settlement with the Internal Revenue Service over its tax examination of the Company's 2009 and 2010 tax returns. The settlement with the Internal Revenue Service occurred in April 2013.

	No tax benefit has been recorded in relation to the pre-tax loss from continuing operations for the three and nine months ended September 30, 2014 in excess of the amount utilized to offset income from discontinued operations or for the pre-tax loss from continuing operations for the three and nine month periods ended September 30, 2013, due to a full valuation allowance to offset any deferred tax asset related to net operating loss carry forwards attributable to the loss.

Retirement_plans

Retirement plans	9 Months Ended
	Sep. 30, 2014
Retirement plans [Abstract]	'
Retirement plans	'
	11.	Retirement plans


	Winthrop maintains an officer retirement bonus plan (the “Bonus Plan”) that is an unfunded deferred compensation program providing retirement benefits equal to 10% of annual compensation, as defined, to those officers upon their retirement. Effective December 1, 1999, the Plan was frozen so that no additional benefits will be earned. The total obligation under the Bonus Plan at September 30, 2014 is $881,000, of which $101,000 is estimated to be payable over the next twelve months. The liability is payable to individual retired employees at the rate of $50,000 per year in equal monthly amounts commencing upon retirement. The liability was recorded at $885,000 at the date of acquisition, representing its estimated fair value computed based on its present value, utilizing a discount rate of 14%, which was estimated to be the acquired company's weighted average cost of capital on such date from the perspective of a market participant. The calculated discount of $945,000 at the date of acquisition is being amortized as interest expense over the period the obligation is outstanding by use of the effective interest method. For the three and nine months ended September 30, 2014, interest expense, (included in investment and other expense net) amounted to $24,000 and $69,000, respectively. For the three and nine months ended September 30, 2013, interest expense (included in investment and other expense net) amounted to $30,000 and $91,000, respectively. At September 30, 2014, the present value of the obligation under the Bonus Plan was $881,000, and the unamortized discount was $832,000.

Contingencies_and_other

Contingencies and other	9 Months Ended
	Sep. 30, 2014
Contingencies and other [Abstract]	'
Contingencies and other	'
	12.	Contingencies and other


		(a)	On or about May 17, 2011, the Merit Group, Inc. (“Merit”) filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of South Carolina. On or about December 14, 2011, the Official Committee of Unsecured Creditors of TMG Liquidation Company (formerly known as The Merit Group, Inc.) filed in that court an adversary proceeding against the Company (the “Avoidance Action”) now captioned CohnResnick LLP, as Plan Administrator v. National Patent Development Corp. (In re TMG Liquidation Co.). The Avoidance Action sought, among other things, to avoid and recover the consideration paid by Merit to the Company for the purchase of Five Star Products, Inc. (“Five Star”) from the Company under the Stock Purchase Agreement, dated November 24, 2009 (the “Agreement”), as a constructive fraudulent transfer under sections 548, 550, and 551 of the Bankruptcy Code.

	On August 2, 2013, the Company entered into a Settlement Agreement and Release (the “Settlement Agreement”) with CohnReznick LLP (the “Plan Administrator”) to settle the Avoidance Action. Under the terms of the Settlement Agreement, the Plan Administrator was required to file with the Bankruptcy Court, no later than August 9, 2013, a motion to approve the Settlement Agreement (the “Settlement Motion”) and a proposed order approving relief to be requested in the Settlement Motion (the “Proposed Order”). Pursuant to the Settlement Agreement, the Company agreed to make a settlement payment of $2,375,000 (the “Settlement Payment”) to the Plan Administrator conditioned upon the entry of an order (the “Approval Order”) by the Bankruptcy Court approving the Settlement Motion, that is in a form acceptable to the Company and in substantially the same form as the Proposed Order. The Bankruptcy Court entered an order approving the Settlement Agreement on September 4, 2013, and the Settlement Agreement required the Company to make the Settlement Payment within fifteen days of the Approval Order becoming a final, non-appealable order (a “Final Order”). On October 3, 2013, the Company made a payment of $2,375,000 to the Plan Administrator pursuant to the terms of the Settlement Agreement.


	The Settlement Agreement also provides for general mutual releases by each of the parties, including a general release in favor of the Company and its affiliates, and the Company's and its affiliates' officers, directors, employees, agents, and professionals. The mutual releases became effective upon entry of the Final Order and receipt of the Settlement Payment by the Plan Administrator. In addition, pursuant to the terms of the Settlement Agreement, on October 9, 2013 the Plan Administrator made the requisite filings to dismiss, with prejudice, the Avoidance Action and a second pending adversary complaint against the Company. Upon entry of the Final Order by the Bankruptcy Court, the Company resolved all claims and causes of action that have been or could have been asserted against it by the Plan Administrator.

	As a result of entering into the Settlement Agreement, during the second quarter ended June 30, 2013, the Company recorded a loss in discontinued operations of $2,375,000 in connection with the Avoidance Action. In April 2014, the Company agreed to a settlement of its insurance claim related to this matter, and received a net payment of $525,000, which was recorded as income in discontinued operations during the second quarter of 2014.


	(b)	The Company entered into employment agreements with four key executives of Winthrop. The Company has a call right to acquire any shares of Company common stock held by the four key executives of Winthrop received as merger consideration who terminate employment without “good reason” prior to the third anniversary of the Closing Date, at a purchase price per share equal to the fair market value of Company Common Stock as of the date of the notice of the exercise of the call right.

	(c)	On July 1, 2014, Winthrop, pursuant to the terms of its Milford facility lease, gave eight months' notice to their landlord to terminate their lease in Milford, Connecticut. In August 2014, the Company entered into a five year sublease in Greenwich, Connecticut for 10,000 square feet. The current annual rent for the new sublease, which expires on September 30, 2019, is $230,000, subject to 3% annual increases. The Company also intends to move their corporate office from Mount Kisco, New York to the new Greenwich, Connecticut facility, which would result in a consolidation of the Company's corporate headquarters to Greenwich, Connecticut.

	(d)	On September 26, 2014, the Connecticut Department of Energy and Environmental Protection (“DEEP”) issued two Orders requiring the investigation and repair of two dams in which the Company and its subsidiaries have certain ownership interests. The first Order requires that the Company investigate and make specified repairs to the ACME Pond Dam located in Killingly, Connecticut. The second Order, as subsequently revised by DEEP on October 10, 2014, requires that the Company investigate and make specified repairs to the Killingly Pond Dam located in Killingly, Connecticut. The Company has administratively appealed and contested the allegations in both Orders. As the administrative appeal of both Orders is in its early stages, it is not possible at this time to evaluate the likelihood of, or to estimate the range of loss from, an unfavorable outcome.

Basis_of_presentation_and_desc1

Basis of presentation and description of activities (Policies)	9 Months Ended
	Sep. 30, 2014
Basis of presentation and description of activities [Abstract]	'
Basis of presentation	'
	Basis of presentation

	The accompanying interim financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. The information and note disclosures normally included in complete financial statements have been condensed or omitted pursuant to such rules and regulations. The Condensed Consolidated Balance Sheet as of December 31, 2013 has been derived from audited financial statements. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2013 as presented in our Annual Report on Form 10-K. In the opinion of management, this interim information includes all material adjustments, which are of a normal and recurring nature, necessary for a fair presentation. The results for the 2014 interim periods are not necessarily indicative of results to be expected for the entire year.
Description of activities	'
	Description of activities

	On February 4, 2013, National Patent Development Corporation changed its name to Wright Investors' Service Holdings, Inc. (hereinafter referred to as the “Company” or “Wright Holdings”).

	On January 15, 2010, the Company completed the sale to The Merit Group, Inc. (“Merit”) of all of the issued and outstanding stock of the Company's wholly-owned subsidiary, Five Star Products, Inc., the holding company and sole stockholder of Five Star Group, Inc., for cash. Upon the consummation of the sale, the Company became a “shell company”, as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended. As used herein, references to “Five Star” refer to Five Star Products Inc. or Five Star Group Inc., or both, as the context requires.

	On December 19, 2012 (the “Closing Date”), the Company, completed the acquisition of The Winthrop Corporation, a Connecticut corporation (“Winthrop”) pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”) dated June 18, 2012. Winthrop, through its wholly-owned subsidiaries Wright Investors' Service, Inc. (“Wright”), Wright Investors' Service Distributors, Inc. (“WISDI”) and Wright's wholly-owned subsidiary, Wright Private Asset Management, LLC (“WPAM”) (collectively, the “Wright Companies”), offers investment management services, financial advisory services and investment research to large and small investors, both taxable and tax exempt. WISDI is a registered broker dealer with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities and Exchange Commission. In accordance with the Merger Agreement, a wholly-owned newly formed subsidiary of the Company, was merged with and into Winthrop and Winthrop became a wholly-owned subsidiary of the Company.

	As a result of the completion of the Merger described above, the Company is no longer a “shell company” and substantially all of the Company's business operations are carried out through Winthrop and its subsidiaries, the Wright Companies.

Shortterm_investments_Tables

Short-term investments: (Tables)	9 Months Ended
	Sep. 30, 2014
Short-term investments: [Abstract]	'
Current Trading Marketable Securities	'
	The following is a summary of current short-term investments at September 30, 2014 (in thousands):

		30-Sep-14
		Cost		Unrealized		Estimated
				Gains		Fair Value

	Mutual funds	$	114	$	32	$	146
		$	114	$	32	$	146

Incentive_stock_plans_and_stoc1

Incentive stock plans and stock based compensation (Tables)

9 Months Ended

Sep. 30, 2014

Incentive stock plans and stock based compensation [Abstract]

Schedule of Stock Option Activity

Information with respect to the Company's outstanding stock options for the nine months ended September 30, 2014 is as follows:

Stock

Weighted

Aggregate

Options

Average

Intrinsic

Exercise

Contractual

Value

Price

Term

Options outstanding at January 1, 2014

3,250,000

2.31

3.6

Options outstanding at September 30, 2014

3,250,000

2.31

2.8

171,000

Options exercisable at September 30, 2014

3,250,000

2.31

2.8

171,000

The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option.

Intangible_Assets_Tables

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2014
Intangible Assets [Abstract]	'
Components of Acquired Intangible Assets	'
	At September 30, 2014, intangible assets subject to amortization which were recorded in connection with the acquisition of Winthrop consisted of the following (in thousands):

		Intangible	Estimated	Gross		Accumulated		Net carrying
			useful life	carrying		Amortization		amount
				amount


	Investment management and Advisory Contracts		9 years	$	3,181	$	629	$	2,552
	Trademarks		10 years		433		77		356
	Proprietary software and		4 years		960		427		533
	technology
				$	4,574	$	1,133	$	3,441
Amortization Expense Related to Intangible Assets	'
	For the nine months ended September 30, 2014 and 2013 amortization expense was $478,000 each period. Estimated amortization expense for each of the five succeeding years and thereafter is as follows (in thousands):




	Year ending December 31,
	2014 (remainder)
	2015		$159
	2016		637
	2017		630
			397
	2018		397
			1,221
	2019-2023		$3,441

Liability_for_Contingent_Consi1

Liability for Contingent Consideration (Details) (USD $)	3 Months Ended		9 Months Ended			1 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Jun. 10, 2014	Dec. 19, 2012	Sep. 30, 2014
						Winthrop [Member]	Winthrop [Member]
						Unspecified stockholder [Member]	Unspecified stockholder [Member]
Business Acquisition [Line Items]	'	'	'	'	'	'	'
Issuance of common stock in connection with acquisition, shares	'	'	'	'	'	852,228	'
Contingent consideration, maximum value of shares	'	'	'	'	'	$1,900,000	'
Stock price	'	'	'	'	$1.90	$2.23	'
Expected volatility	'	'	'	'	'	50.00%	'
Risk-free interest rate	'	'	'	'	'	0.38%	'
Fair value of contingent liability	'	'	'	'	'	'	615,000
Change in liability for contigent consideration	($27,000)	$9,000	($109,000)	($79,000)	'	'	'

Sale_of_MXL_investment_Details

Sale of MXL investment (Details) (USD $)	3 Months Ended		9 Months Ended		1 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Mar. 26, 2014	Sep. 30, 2014	Dec. 31, 2013
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	MXL [Member]	MXL [Member]	MXL [Member]
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'
Equity investment, percentage	'	'	'	'	'	'	19.90%
Equity investment	'	'	'	'	'	'	$275,000
Proceeds from sale of investment in MXL	'	'	994,000	'	994,000	'	'
Gain on sale of investment in MXL	'	'	$719,000	'	'	$719,000	'

Per_share_data_Details

Per share data (Details)	3 Months Ended		9 Months Ended
Per share data (Details)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Weighted average number of common shares outstanding	19,096,000	18,953,000	19,089,000	18,951,000
Weighted average number of common shares, vested RSUs	608,526	479,280	607,343	479,280
Restricted Stock Units (RSUs) [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	286,256	387,738	286,256	387,738
Stock Options [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,250,000	3,250,000	3,250,000	3,250,000

Capital_Stock_Details

Capital Stock (Details)	Sep. 30, 2014
Capital Stock [Abstract]	'
Number of shares authorized to be repurchased	5,000,000
Number of shares repurchased	1,791,821
Remaining number of shares available for repurchase	3,208,179

Shortterm_investments_Details

Short-term investments: (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Schedule of Available-for-sale Securities [Line Items]	'
Cost	$114
Unrealized Gains	32
Estimated Fair Value	146
Mutual Funds [Member]	'
Schedule of Available-for-sale Securities [Line Items]	'
Cost	114
Unrealized Gains	32
Estimated Fair Value	$146

Incentive_stock_plans_and_stoc2

Incentive stock plans and stock based compensation (Schedule of Stock Option Activity) (Details) (USD $)	3 Months Ended			9 Months Ended			12 Months Ended
	Sep. 30, 2014		Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013	Dec. 31, 2013
Stock Options	'		'	'		'	'
Options outstanding at January 1, 2014	'		'	3,250,000		'	'
Options outstanding at September 30, 2014	3,250,000		'	3,250,000		'	3,250,000
Options exercisable at September 30, 2014	3,250,000		'	3,250,000		'	'
Weighted Average Exercise Price	'		'	'		'	'
Options outstanding at January 1, 2014	'		'	$2.31		'	'
Options outstanding at September 30, 2014	$2.31		'	$2.31		'	$2.31
Options exercisable at September 30, 2014	$2.31		'	$2.31		'	'
Weighted Average Contractual Term	'		'	'		'	'
Options outstanding	'		'	'2 years 9 months 18 days		'	'3 years 7 months 6 days
Options exercisable at September 30, 2014	'		'	'2 years 9 months 18 days		'	'
Aggregate Intrinsic Value	'		'	'		'	'
Options outstanding at January 1, 2014	'		'	$0	[1]	'	'
Options outstanding at September 30, 2014	171,000	[1]	'	171,000	[1]	'	0	[1]
Options exercisable at September 30, 2014	171,000	[1]	'	171,000	[1]	'	'
Compensation expense related to option grants	$0		$0	$0		$20,000	'

[1]	The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option.

Incentive_stock_plans_and_stoc3

Incentive stock plans and stock based compensation (Restricted Stock) (Details) (USD $)

Jun. 10, 2014

Dec. 19, 2012

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Feb. 04, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Jun. 10, 2014

Sep. 30, 2014

Restricted Stock Units (RSUs) [Member]

Four Key Executives Group One [Member]

Four Key Executives Group Two [Member]

Certain employees [Member]

Employee [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted shares, Granted

479,280

370,000

17,738

30,000

Stock price

$1.90

Post-vesting restrictions, term

'3 years

Vesting period for plan

'3 years

RSUs value per share

$2.52

$2.40

RSU, discount rate

20.00%

11.00%

RSUs Value per share, less discount for post vesting restrictions on sale

$2.02

$2.25

Compensation

$966,000

$69,000

$208,000

$139,000

$3,000

$8,000

$9,000

$4,000

$5,000

Unrecognized compensation cost

$322,000

$14,000

$51,000

Unrecognized compensation recognition period

'1 year 6 months

'2 years 9 months

Intangible_Assets_Intangible_A

Intangible Assets (Intangible Assets) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Finite-Lived Intangible Assets [Line Items]	'
Gross carrying amount	$4,574
Accumulated Amortization	1,133
Net carrying amount	3,441
Investment Management and Advisory Contracts [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Estimated useful life	'9 years
Gross carrying amount	3,181
Accumulated Amortization	629
Net carrying amount	2,552
Trademarks [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Estimated useful life	'10 years
Gross carrying amount	433
Accumulated Amortization	77
Net carrying amount	356
Proprietary Software and Technology [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Estimated useful life	'4 years
Gross carrying amount	960
Accumulated Amortization	427
Net carrying amount	$533

Intangible_Assets_Estimated_Am

Intangible Assets (Estimated Amortization Expense) (Details) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Intangible Assets [Abstract]	'	'
Amortization expense related to intangible assets	$478,000	$478,000
2014 (remainder)	159,000	'
2015	637,000	'
2016	630,000	'
2017	397,000	'
2018	397,000	'
2019-2023	1,221,000	'
Finite-Lived Intangible Assets, Net, Total	$3,441,000	'

Related_party_transactions_Det

Related party transactions (Details) (USD $)	3 Months Ended		9 Months Ended
Related party transactions (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	13-May-14	Oct. 31, 2012	Jan. 01, 2010
Related Party Transaction [Line Items]	'	'	'	'	'	'	'
Selling, general and administrative expenses	$2,282,000	$2,493,000	$6,884,000	$7,254,000	'	'	'
Bedford Oak [Member] \| Sublease arrangement [Member]	'	'	'	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'	'	'	'
Monthly sublease payment amount	'	'	'	'	27,600	40,700	19,700
Selling, general and administrative expenses	83,000	122,000	314,000	366,000	'	'	'
Winthrop [Member]	'	'	'	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'	'	'	'
Investment management and distribution fees	$213,000	$231,000	$639,000	$742,000	'	'	'

Income_taxes_Details

Income taxes (Details) (USD $)	3 Months Ended		9 Months Ended
Income taxes (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income taxes [Abstract]	'	'	'	'
Income tax benefit from continuing operations	$54,000	$1,000	$115,000	$2,000
Federal and state benefit	65,000	'	145,000	'
Minimum state taxes	11,000	'	30,000	'
Income tax expense from discontinued operations	'	'	$210,000	'

Retirement_plans_Details

Retirement plans (Details) (Frozen defined benefit plans [Member], USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Frozen defined benefit plans [Member]	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Employer match of eligible compensation of employees	'	'	10.00%	'
Total obligation	$881,000	'	$881,000	'
Total obligation, payable in 2014	101,000	'	101,000	'
Annual liability payable to individual retired employees	'	'	50,000	'
Liability recorded at date of acquisition	'	'	885,000	'
Present value discount factor	'	'	14.00%	'
Amount to be amortized, as interest expense	945,000	'	945,000	'
Interest expense	24,000	30,000	69,000	91,000
Present value of plan	881,000	'	881,000	'
Unamortized discount	$832,000	'	$832,000	'

Contingencies_and_other_Detail

Contingencies and other (Details) (USD $)	1 Months Ended		3 Months Ended
	Aug. 31, 2014	Apr. 30, 2014	Jun. 30, 2013	Oct. 03, 2013	Aug. 02, 2013
	sqft	Apr. 30, 2014	Jun. 30, 2013	Oct. 03, 2013	Aug. 02, 2013
Contingencies and other [Abstract]	'	'	'	'	'
Amount of settlement	'	'	'	'	$2,375,000
Payment for settlement	'	'	'	2,375,000	'
Loss in connection with Avoidance Action	'	'	-2,375,000	'	'
Insurance claim settlement, amount awarded to company	'	525,000	'	'	'
Lease, square footage	10,000	'	'	'	'
Annual rent	$230,000	'	'	'	'
Annual rent increase, percent	3.00%	'	'	'	'