LPL Financial (LPLA) 10-Q 29 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2015	Oct. 26, 2015
Entity Information [Line Items]
Entity Registrant Name	LPL Financial Holdings Inc.
Entity Central Index Key	1,397,911
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		94,994,871

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES:
Commission	$ 480,271	$ 520,388	$ 1,513,359	$ 1,590,139
Advisory	341,217	340,369	1,028,213	998,016
Asset-based	123,921	121,283	369,625	354,494
Transaction and fee	105,593	94,674	305,099	276,284
Interest income, net of interest expense	5,221	4,727	14,976	14,279
Other	(1,478)	7,793	23,436	36,182
Total net revenues	1,054,745	1,089,234	3,254,708	3,269,394
EXPENSES:
Commission and advisory	701,585	746,001	2,179,686	2,242,206
Compensation and benefits	110,494	106,290	335,111	317,459
Promotional	42,040	36,669	104,416	93,581
Depreciation and amortization	26,766	24,519	79,564	70,618
Occupancy and equipment	19,760	19,043	61,957	62,922
Professional services	15,341	38,174	43,914	82,736
Brokerage, clearing and exchange	13,403	12,090	39,680	36,594
Communications and data processing	11,253	11,476	33,974	32,598
Restructuring charges	3,071	9,928	11,487	26,473
Other	28,852	16,694	86,796	51,395
Total operating expenses	972,565	1,020,884	2,976,585	3,016,582
Non-operating interest expense	13,493	12,897	40,671	38,651
Total expenses	986,058	1,033,781	3,017,256	3,055,233
INCOME BEFORE PROVISION FOR INCOME TAXES	68,687	55,453	237,452	214,161
PROVISION FOR INCOME TAXES	27,635	22,181	95,480	84,663
NET INCOME	$ 41,052	$ 33,272	$ 141,972	$ 129,498
EARNINGS PER SHARE (NOTE 12)
Earnings per share, basic	$ 0.43	$ 0.33	$ 1.48	$ 1.29
Earnings per share, diluted	$ 0.43	$ 0.33	$ 1.46	$ 1.26
Weighted-average shares outstanding, basic	94,972	100,052	95,744	100,519
Weighted-average shares outstanding, diluted	96,472	101,834	97,303	102,384

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income	$ 41,052	$ 33,272	$ 141,972	$ 129,498
Other comprehensive (loss) income, net of tax:
Unrealized (loss) gain on cash flow hedges, net of tax expense of ($98), ($63), $96, and $863 for the three and nine months ended September 30, 2015 and 2014, respectively	(156)	(101)	121	1,361
Reclassification adjustment for realized gain on cash flow hedges included in net income, net of tax expense of $62, $85, $290, and $113 for the three and nine months ended September 30, 2015 and 2014, respectively	(100)	(135)	(463)	(180)
Total other comprehensive (loss) income, net of tax	(256)	(236)	(342)	1,181
TOTAL COMPREHENSIVE INCOME	$ 40,796	$ 33,036	$ 141,630	$ 130,679

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Tax expense (benefit) on unrealized gain (loss) on cash flow hedges	$ (98)	$ (63)	$ 96	$ 863
Tax expense on adjustment for items reclassified to earnings	$ 62	$ 85	$ 290	$ 113

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 410,036	$ 412,332
Cash and securities segregated under federal and other regulations	470,721	568,930
Restricted cash	22,462	1,109
Receivables from:
Clients, net of allowance of $1,337 at September 30, 2015 and $1,245 at December 31, 2014	344,351	365,390
Product sponsors, broker-dealers, and clearing organizations	154,306	177,470
Others, net of allowance of $11,340 at September 30, 2015 and $8,379 at December 31, 2014	323,238	291,449
Securities owned:
Trading — at fair value	16,611	13,466
Held-to-maturity — at amortized cost	10,847	8,594
Securities borrowed	6,488	5,035
Income taxes receivable	17,370	84
Fixed assets, net of accumulated depreciation and amortization of $320,897 at September 30, 2015 and $288,834 at December 31, 2014	256,998	214,154
Debt issuance costs, net of accumulated amortization of $13,922 at September 30, 2015 and $11,724 at December 31, 2014	11,042	13,241
Goodwill	1,365,838	1,365,838
Intangible assets, net of accumulated amortization of $333,207 at September 30, 2015 and $305,154 at December 31, 2014	401,563	430,704
Other assets	167,487	183,197
Total assets	3,979,358	4,050,993
LIABILITIES:
Drafts payable	144,307	180,099
Payables to clients	558,540	652,714
Payables to broker-dealers and clearing organizations	43,531	45,427
Accrued commission and advisory expenses payable	132,682	146,504
Accounts payable and accrued liabilities	308,884	289,426
Unearned revenue	71,847	64,482
Securities sold, but not yet purchased — at fair value	226	302
Senior secured credit facilities	1,666,129	1,634,258
Leasehold Financing Obligation	43,182	0
Deferred income taxes, net	64,633	66,181
Total liabilities	3,033,961	3,079,393
STOCKHOLDERS' EQUITY:
Common stock, $.001 par value; 600,000,000 shares authorized; 119,238,650 shares issued at September 30, 2015 and 118,234,552 shares issued at December 31, 2014	119	118
Additional paid-in capital	1,401,441	1,355,085
Treasury stock, at cost — 24,435,356 shares at September 30, 2015 and 21,089,882 shares at December 31, 2014	(922,817)	(780,661)
Accumulated other comprehensive income	595	937
Retained earnings	466,059	396,121
Total stockholders' equity	945,397	971,600
Total liabilities and stockholders' equity	$ 3,979,358	$ 4,050,993

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Financial Condition (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accumulated depreciation and amortization, Fixed assets	$ 320,897	$ 288,834
Accumulated amortization, Debt issuance costs	13,922	11,724
Accumulated amortization, Intangible assets	$ 333,207	$ 305,154
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	119,238,650	118,234,552
Treasury stock, shares	24,435,356	21,089,882
Receivables from clients [Member]
Allowances on receivables	$ 1,337	$ 1,245
Receivables from others [Member]
Allowances on receivables	$ 11,340	$ 8,379

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total		Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
BEGINNING BALANCE at Dec. 31, 2013	$ 1,099,971		$ 117	$ 1,292,374	$ (506,205)	$ 115	$ 313,570
BEGINNING BALANCE, shares at Dec. 31, 2013			117,112,000		15,216,000
Net income and other comprehensive income (loss), net of tax expense	130,679					1,181	129,498
Issuance of common stock to settle restricted stock units, net	(673)		$ 1		$ (674)
Issuance of common stock to settle restricted stock units, net, shares			40,000		13,000
Treasury stock purchases	$ (150,021)	[1]			$ (150,021)
Treasury stock purchases, shares	2,989,712				2,990,000
Cash dividends on common stock	$ (72,104)						(72,104)
Stock option exercises and other	25,334			$ 24,141	$ 1,078		115
Stock option exercises and other, shares			972,000		(31,000)
Share-based compensation	22,649			22,649
Excess tax benefits from share-based compensation	7,537			7,537
ENDING BALANCE at Sep. 30, 2014	1,063,372		$ 118	1,346,701	$ (655,822)	1,296	371,079
ENDING BALANCE, shares at Sep. 30, 2014			118,124,000		18,188,000
BEGINNING BALANCE at Dec. 31, 2014	971,600		$ 118	$ 1,355,085	$ (780,661)	937	396,121
BEGINNING BALANCE, shares at Dec. 31, 2014			118,235,000		21,090,000
Net income and other comprehensive income (loss), net of tax expense	141,630					(342)	141,972
Issuance of common stock to settle restricted stock units, net	(2,867)		$ 1		$ (2,868)
Issuance of common stock to settle restricted stock units, net, shares			172,000		64,000
Treasury stock purchases	$ (140,835)				$ (140,835)
Treasury stock purchases, shares	3,325,052				3,325,000
Cash dividends on common stock	$ (72,056)						(72,056)
Stock option exercises and other	23,900			$ 22,331	$ 1,547		22
Stock option exercises and other, shares			832,000		(44,000)
Share-based compensation	22,577			22,577
Excess tax benefits from share-based compensation	1,448			1,448
ENDING BALANCE at Sep. 30, 2015	$ 945,397		$ 119	$ 1,401,441	$ (922,817)	$ 595	$ 466,059
ENDING BALANCE, shares at Sep. 30, 2015			119,239,000		24,435,000
[1]	Included in the total cost of shares purchased is a commission fee of $0.02 per share.

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 141,972	$ 129,498
Noncash items:
Depreciation and amortization	79,564	70,618
Amortization of debt issuance costs	2,198	3,241
Share-based compensation	22,577	22,649
Excess tax benefits related to share-based compensation	(2,420)	(7,666)
Provision for bad debts	1,632	2,124
Deferred income tax provision	(1,354)	585
Loan forgiveness	27,469	20,326
Other	13,308	3,339
Changes in operating assets and liabilities:
Cash and securities segregated under federal and other regulations	98,208	93,844
Receivables from clients	20,948	30,723
Receivables from product sponsors, broker-dealers and clearing organizations	23,164	(4,369)
Receivables from others	(61,523)	(31,195)
Securities owned	(3,763)	(3,999)
Securities borrowed	(1,453)	(1,225)
Other assets	3,457	(8,534)
Drafts payable	(35,792)	(59,876)
Payables to clients	(94,174)	17
Payables to broker-dealers and clearing organizations	(1,896)	(4,842)
Accrued commission and advisory expenses payable	(13,822)	7,875
Accounts payable and accrued liabilities	19,706	(11,580)
Income taxes receivable/payable	(14,866)	(22,187)
Unearned revenue	7,365	(4,922)
Securities sold, but not yet purchased	(76)	(193)
Net cash provided by operating activities	230,429	224,251
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(51,553)	(69,830)
Purchase of intangible assets	0	9,000
Proceeds from disposal of fixed assets	0	7,123
Purchase of securities classified as held-to-maturity	(4,602)	(6,749)
Proceeds from maturity of securities classified as held-to-maturity	2,350	4,250
Deposits of restricted cash	(22,462)	(6,049)
Release of restricted cash	1,109	141
Net cash used in investing activities	(75,158)	(80,114)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from revolving credit facility	40,000	0
Repayment of senior secured credit facilities	(8,129)	(8,129)
Payment of contingent consideration	0	(3,300)
Tax payments related to settlement of restricted stock units	(2,867)	(673)
Repurchase of common stock	(140,835)	(150,021)
Dividends on common stock	(72,056)	(72,104)
Excess tax benefits related to share-based compensation	2,420	7,666
Proceeds from stock option exercises and other	23,900	25,334
Net cash used in financing activities	(157,567)	(201,227)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(2,296)	(57,090)
CASH AND CASH EQUIVALENTS - Beginning of period	412,332	516,584
CASH AND CASH EQUIVALENTS - End of period	410,036
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid	38,509	38,877
Income taxes paid	112,899	109,805
NONCASH DISCLOSURES:
Capital expenditures included in accounts payable and accrued liabilities	7,843	6,462
Fixed assets acquired under build-to-suit lease	0	8,114
non cash finance obligation	$ 43,182	$ 0

Organization and Description of

Organization and Description of the Company	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of the Company	Organization and Description of the Company LPL Financial Holdings Inc. (“LPLFH”), a Delaware holding corporation, together with its consolidated subsidiaries (collectively, the “Company”) provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions (collectively “advisors”) in the United States of America. Through its custody and clearing platform, using both proprietary and third-party technology, the Company provides access to diversified financial products and services enabling its advisors to offer independent financial advice and brokerage services to retail investors (their “clients”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These unaudited condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. These adjustments are of a normal recurring nature. The Company’s results for any interim period are not necessarily indicative of results for a full year or any other interim period. The unaudited condensed consolidated financial statements do not include all information and notes necessary for a complete presentation of results of income, comprehensive income, financial position, and cash flows in conformity with generally accepted accounting principles in the United States of America (“GAAP”). Accordingly, these financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the related notes for the year ended December 31, 2014 , contained in the Company’s Annual Report on Form 10-K as filed with the SEC. The Company’s significant accounting policies are included in Note 2 . Summary of Significant Accounting Policies , in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 . There have been no significant changes to these accounting policies during the first nine months of 2015 . Consolidation These unaudited condensed consolidated financial statements include the accounts of LPLFH and its subsidiaries. Intercompany transactions and balances have been eliminated. Equity investments in which the Company exercises significant influence but does not exercise control and is not the primary beneficiary are accounted for using the equity method. Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenue and expenses, and related disclosures of contingent assets and liabilities. These estimates are based on the information that is currently available and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could vary from these estimates. Reportable Segment The Company's internal reporting is organized into two service channels: Independent Advisor Services and Institution Services. These service channels are aggregated and viewed as one operating segment, and therefore, one reportable segment due to their similar economic characteristics, products and services, production and distribution processes, and regulatory environment. Restricted Cash Restricted cash primarily represents cash restricted for use by the Company’s captive insurance subsidiary. Fair Value of Financial Instruments The Company’s financial assets and liabilities are carried at fair value or at amounts that, because of their short-term nature, approximate current fair value, with the exception of its held-to-maturity securities and indebtedness. The Company carries its held-to-maturity securities and indebtedness at amortized cost. The Company measures the implied fair value of its debt instruments using trading levels obtained from a third-party service provider. Accordingly, the debt instruments qualify as Level 2 fair value measurements. See Note 4 . Fair Value Measurements , for additional detail regarding the Company’s fair value measurements. As of September 30, 2015 , the carrying amount and fair value of the Company’s indebtedness was approximately $1,666.1 million and $1,658.1 million , respectively. As of December 31, 2014 , the carrying amount and fair value was approximately $1,634.3 million and $1,620.8 million , respectively. Leasehold Financing Obligation The Company is involved with the construction of a building for use as office space in Fort Mill, South Carolina and has determined that it has substantially all of the risks of ownership during construction of the leased property. Accordingly, from an accounting perspective, the Company is deemed to be the owner of the construction project. As such, the Company records an asset for the amount of the total project costs and an amount related to the value attributed to the building under construction in fixed assets and the related financing obligation in leasehold financing obligations on the unaudited condensed consolidated statement of financial condition. Once construction is complete, the Company will determine if the asset qualifies for sale-leaseback accounting treatment. Recently Issued Accounting Pronouncements There are no recently issued accounting pronouncements that would materially impact the Company's condensed consolidated statements of income, comprehensive income, financial condition, or cash flows.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In February 2013, the Company committed to an expansion of its Service Value Commitment initiative (the “Program”), an ongoing effort to position the Company's people, processes, and technology for sustainable long-term growth while improving the service experience of its advisors and delivering efficiencies in its operating model. The Program is expected to be completed in 2015. The following table summarizes the balance of accrued expenses and the changes in the accrued amounts for the Program as of and for the nine months ended September 30, 2015 (in thousands): Accrued Balance at December 31, 2014 Costs Incurred Payments Accrued Balance at September 30, 2015 Cumulative Costs Incurred to Date Total Expected Restructuring Costs Outsourcing and other related costs $ — $ 1,198 $ (1,198 ) $ — $ 22,686 $ 23,500 Technology transformation costs 4,458 377 (4,424 ) 411 30,295 30,300 Employee severance obligations and other related costs 1,999 2,265 (3,358 ) 906 11,151 13,400 Asset impairments — — — — 842 842 Total $ 6,457 $ 3,840 $ (8,980 ) $ 1,317 $ 64,974 $ 68,042 In February 2015, the Company committed to a course of action to restructure the business of its subsidiary, Fortigent Holdings Company, Inc. (together with its subsidiaries, “Fortigent”). The Company acquired Fortigent, which provides outsourced wealth management solutions, in April 2012. The intention of the restructuring plan is to migrate Fortigent’s operations from Rockville, Maryland to the Company’s office in Charlotte, North Carolina, simplify and improve the efficiency of Fortigent’s existing service offerings, and position Fortigent to capitalize on the Company's future technology investments and service offerings for financial institutions and advisors focused on high-net-worth clients. This restructuring is expected to be completed in 2016. The following table summarizes the balance of accrued expenses and the changes in the accrued amounts for the Fortigent restructuring as of and for the nine months ended September 30, 2015 (in thousands): Costs Incurred Payments Non-cash Accrued Balance at September 30, 2015 Cumulative Costs Incurred to Date Total Expected Restructuring Costs Employee severance obligations and other related costs $ 2,838 $ (1,816 ) $ — $ 1,022 $ 2,838 $ 2,900 Relocation and related costs 2,409 (1,816 ) — 593 2,409 3,600 Lease restructuring charges 793 (170 ) — 623 793 1,300 Asset impairments 821 — (821 ) — 821 1,200 Total $ 6,861 $ (3,802 ) $ (821 ) $ 2,238 $ 6,861 $ 9,000

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Inputs used to measure fair value are prioritized within a three-level fair value hierarchy. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1 — Quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies, and similar techniques that use significant unobservable inputs. There have been no transfers of assets or liabilities between these fair value measurement classifications during the nine months ended September 30, 2015 . The Company’s fair value measurements are evaluated within the fair value hierarchy, based on the nature of inputs used to determine the fair value at the measurement date. At September 30, 2015 , the Company had the following financial assets and liabilities that are measured at fair value on a recurring basis: Cash Equivalents — The Company’s cash equivalents include money market funds, which are short term in nature with readily determinable values derived from active markets. Securities Owned and Securities Sold, But Not Yet Purchased — The Company's trading securities consist of house account model portfolios established and managed for the purpose of benchmarking the performance of its fee-based advisory platforms and temporary positions resulting from the processing of client transactions. Examples of these securities include money market funds, U.S. treasury obligations, mutual funds, certificates of deposit, and traded equity and debt securities. The Company uses prices obtained from independent third-party pricing services to measure the fair value of its trading securities. Prices received from the pricing services are validated using various methods including comparison to prices received from additional pricing services, comparison to available quoted market prices, and review of other relevant market data including implied yields of major categories of securities. In general, these quoted prices are derived from active markets for identical assets or liabilities. When quoted prices in active markets for identical assets and liabilities are not available, the quoted prices are based on similar assets and liabilities or inputs other than the quoted prices that are observable, either directly or indirectly. For certificates of deposit and treasury securities, the Company utilizes market-based inputs, including observable market interest rates that correspond to the remaining maturities or the next interest reset dates. At September 30, 2015 , the Company did not adjust prices received from the independent third-party pricing services. Other Assets — The Company’s other assets include: (1) deferred compensation plan assets that are invested in money market and other mutual funds, which are actively traded and valued based on quoted market prices; (2) certain non-traded real estate investment trusts and auction rate notes, which are valued using quoted prices for identical or similar securities and other inputs that are observable or can be corroborated by observable market data; and (3) cash flow hedges, which are measured using quoted prices for similar cash flow hedges, taking into account counterparty credit risk and the Company's own non-performance risk. Accounts Payable and Accrued Liabilities — The Company's accounts payable and accrued liabilities include contingent consideration liabilities that are measured using Level 3 inputs. The following table summarizes the Company’s financial assets and financial liabilities measured at fair value on a recurring basis at September 30, 2015 (in thousands): Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 8,858 $ — $ — $ 8,858 Securities owned — trading: Money market funds 269 — — 269 Mutual funds 6,686 — — 6,686 Equity securities 80 — — 80 Debt securities — 5,266 — 5,266 U.S. treasury obligations 4,310 — — 4,310 Total securities owned — trading 11,345 5,266 — 16,611 Other assets 94,096 3,847 — 97,943 Total assets at fair value $ 114,299 $ 9,113 $ — $ 123,412 Liabilities Securities sold, but not yet purchased: Equity securities $ 193 $ — $ — $ 193 Debt securities — 31 — 31 Certificates of deposit — 2 — 2 Total securities sold, but not yet purchased 193 33 — 226 Accounts payable and accrued liabilities — — 527 527 Total liabilities at fair value $ 193 $ 33 $ 527 $ 753 The following table summarizes the Company’s financial assets and financial liabilities measured at fair value on a recurring basis at December 31, 2014 (in thousands): Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 22,592 $ — $ — $ 22,592 Securities owned — trading: Money market funds 293 — — 293 Mutual funds 7,570 — — 7,570 Equity securities 224 — — 224 Debt securities — 1,379 — 1,379 U.S. treasury obligations 4,000 — — 4,000 Total securities owned — trading 12,087 1,379 — 13,466 Other assets 75,540 5,058 — 80,598 Total assets at fair value $ 110,219 $ 6,437 $ — $ 116,656 Liabilities Securities sold, but not yet purchased: Mutual funds $ 13 $ — $ — $ 13 Equity securities 279 — — 279 Debt securities — 10 — 10 Total securities sold, but not yet purchased 292 10 — 302 Accounts payable and accrued liabilities — — 527 527 Total liabilities at fair value $ 292 $ 10 $ 527 $ 829 Level 3 Recurring Fair Value Measurements The Company determines the fair value for its contingent consideration obligations using an income approach whereby the Company assesses the probability and timing of the achievement of the applicable milestones, which are based on contractually negotiated financial or operating targets that vary by acquisition transaction, such as revenues. The contingent payments are estimated using a probability weighted, multi-scenario analysis of expected future performance of the acquired businesses. The Company then discounts these expected payment amounts to calculate the fair value as of the valuation date. The Company's management evaluates the underlying projections and other related factors used in determining fair value each period and makes updates when there have been significant changes in management's expectations.

Held-to-Maturity Securities

Held-to-Maturity Securities	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Held-to-Maturity Securities	Held-to-Maturity Securities The Company holds certain investments in securities, primarily U.S. government notes, which are recorded at amortized cost because the Company has both the intent and the ability to hold these investments to maturity. Interest income is accrued as earned. Premiums and discounts are amortized using a method that approximates the effective yield method over the term of the security and are recorded as an adjustment to the investment yield. The amortized cost, gross unrealized gain or loss, and fair value of securities held-to-maturity were as follows (in thousands): September 30, December 31, Amortized cost $ 10,847 $ 8,594 Gross unrealized gain (loss) 20 (14 ) Fair value $ 10,867 $ 8,580 At September 30, 2015 , the securities held-to-maturity were scheduled to mature as follows (in thousands): Within one year After one but within five years After five but within ten years Total U.S. government notes — at amortized cost $ 5,000 $ 5,347 $ 500 $ 10,847 U.S. government notes — at fair value $ 5,005 $ 5,355 $ 507 $ 10,867

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments In May 2013, in conjunction with its Service Value Commitment initiative, the Company entered into a long-term contractual obligation (the “Agreement”) with a third-party provider to enhance the quality, speed, and cost of processes by outsourcing certain functions. The Agreement enables the third-party provider to use the services of its affiliates in India to provide services to the Company and provides for the Company to settle the cost of its contractual obligation to the third-party provider in U.S. dollars each month. However, the Agreement provides that on each annual anniversary date of the signing of the Agreement, the price for services (denominated in U.S. dollars) is to be adjusted for the then-current exchange rate between the U.S. dollar (“USD”) and the Indian rupee (“INR”). The Agreement provides that, once an annual adjustment is calculated, there are no further modifications to the amounts paid by the Company to the third-party provider for fluctuations in the exchange rate between the USD and the INR until the reset on the next anniversary date of the signing of the Agreement. The third-party provider bore the risk of currency movement from the date of signing the Agreement until the reset on the first anniversary of its signing, and bears such risk during each period until the next annual reset date. The Company bears the risk of currency movement at each of the annual reset dates following the first anniversary. To mitigate foreign currency risk arising from these annual reset events, the Company entered into four non-deliverable foreign currency contracts, all of which have been designated as cash flow hedges. The first cash flow hedge, with a notional amount of 560.4 million INR, or $8.5 million , settled in June 2014. The Company received a settlement of $1.0 million , which was reclassified out of accumulated other comprehensive income and recognized in net income ratably over the 12-month period ending May 31, 2015 to match the timing of the underlying hedged item. The second cash flow hedge, with a notional amount of 560.4 million INR, or $8.1 million , settled in June 2015. The Company received a settlement of $0.7 million , which will be reclassified out of accumulated other comprehensive income and recognized in net income ratably over a 12-month period ending May 31, 2016 to match the timing of the underlying hedged item. The details related to the remaining non-deliverable foreign currency contracts at September 30, 2015 are as follows (in millions, except foreign exchange rate): Settlement Date Hedged Notional Amount (INR) Contractual INR/USD Foreign Exchange Rate Hedged Notional Amount (USD) Cash flow hedge #3 6/2/2016 560.4 72.21 7.8 Cash flow hedge #4 6/2/2017 560.4 74.20 7.5 Total hedged amount $ 15.3 The fair value of the derivative instruments, included in other assets in the unaudited condensed consolidated statements of financial condition, were as follows (in thousands): September 30, December 31, Cash flow hedges $ 638 $ 1,179

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The balances in goodwill and intangible assets were a result of various acquisitions. See Note 8 . Goodwill and Other Intangible Assets , in the Company's 2014 Annual Report on Form 10-K for a discussion of the components of goodwill and additional information regarding intangible assets.

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt Senior Secured Credit Facilities — In October 2014, the Company entered into the Second Amendment, Extension and Incremental Assumption Agreement (“Credit Agreement”) with its wholly owned subsidiary, LPL Holdings, Inc., and the other parties thereto. The Credit Agreement includes a term loan A (“Term Loan A”), a term loan B (“Term Loan B”), and a revolving credit facility (“Revolving Credit Facility”), which has a borrowing capacity of $400.0 million . The Company’s outstanding borrowings as of the dates below were as follows (dollars in thousands): September 30, 2015 December 31, 2014 Senior Secured Credit Facilities Maturity Balance Interest Rate Balance Interest Rate Revolving Credit Facility 9/30/2019 $ 150,000 3.73 % $ 110,000 4.75 % Senior secured term loans: Term Loan A 9/30/2019 459,375 2.69 % 459,375 2.67 % Term Loan B 3/29/2019 1,056,754 3.25 % 1,064,883 3.25 % Total borrowings 1,666,129 1,634,258 Less current portion 160,839 120,839 Long-term borrowings — net of current portion $ 1,505,290 $ 1,513,419 As of September 30, 2015 , the Company also had $18.0 million of irrevocable letters of credit, with an applicable interest rate margin of 2.50% , which were supported by the Revolving Credit Facility. The Credit Agreement subjects the Company to certain financial and non-financial covenants. As of September 30, 2015 , the Company was in compliance with such covenants. Bank Loans Payable — The Company maintains three uncommitted lines of credit. Two of the lines have unspecified limits, which are primarily dependent on the Company’s ability to provide sufficient collateral. The third line has a $200 million limit, and allows for both collateralized and uncollateralized borrowings. One line was utilized for one day during the three months ended September 30, 2015 with an average balance outstanding of $0.6 million at a weighted-average interest rate of 1.50% . The lines were not otherwise utilized in 2015 and were not utilized in 2014 . There were no balances outstanding at September 30, 2015 or December 31, 2014 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases The Company leases office space and equipment under various operating leases. These leases are generally subject to scheduled base rent and maintenance cost increases, which are recognized on a straight-line basis over the period of the leases. Total rental expense for all operating leases was approximately $6.2 million and $6.5 million for the three months ended September 30, 2015 and 2014 , respectively, and $19.4 million and $23.5 million for the nine months ended September 30, 2015 and 2014 , respectively. Service and Development Contracts The Company is party to certain long-term contracts for systems and services that enable back office trade processing and clearing for its product and service offerings. Guarantees The Company occasionally enters into certain types of contracts that contingently require it to indemnify certain parties against third-party claims. The terms of these obligations vary and, because a maximum obligation is not explicitly stated, the Company has determined that it is not possible to make an estimate of the amount that it could be obligated to pay under such contracts. The Company’s subsidiary, LPL Financial, provides guarantees to securities clearing houses and exchanges under their standard membership agreements, which require a member to guarantee the performance of other members. Under these agreements, if a member becomes unable to satisfy its obligations to the clearing houses and exchanges, all other members would be required to meet any shortfall. The Company’s liability under these arrangements is not quantifiable and may exceed the cash and securities it has posted as collateral. However, the potential requirement for the Company to make payments under these agreements is remote. Accordingly, no liability has been recognized for these transactions. Loan Commitments From time to time, LPL Financial makes loans to its advisors, primarily to newly recruited advisors to assist in the transition process, which may be forgivable. Due to timing differences, LPL Financial may make commitments to issue such loans prior to actually funding them. These unfunded commitments are generally contingent upon certain events occurring, including but not limited to the advisor joining LPL Financial. LPL Financial had no such significant unfunded commitments at September 30, 2015 . Legal & Regulatory Matters Assessing the probability of a loss occurring and the amount of any loss related to a legal proceeding or regulatory matter is inherently difficult. The Company exercises significant and complex judgments to make certain estimates presented in its consolidated financial statements, and there are particular uncertainties and complexities involved when assessing the potential outcomes of legal proceedings and regulatory matters. The Company's assessment process considers a variety of factors and assumptions, which may include the procedural status of the matter and any recent developments; prior experience and the experience of others in similar matters; the size and nature of potential exposures; available defenses; the progress of fact discovery; the opinions of counsel and experts; potential opportunities for settlement and the status of any settlement discussions; as well as the potential for insurance coverage and indemnification, if available. The Company monitors these factors and assumptions for new developments and re-assesses the likelihood that a loss will occur and the estimated range or amount of loss, if those amounts can be reasonably determined. The Company has established an accrual for those legal proceedings and regulatory matters for which a loss is both probable and the amount can be reasonably estimated. The Company’s accruals at September 30, 2015 include estimated costs for regulatory matters generally relating to the adequacy of the Company’s compliance and supervisory systems and procedures and other controls, for which the Company believes losses are both probable and reasonably estimable. When it is not probable but at least reasonably possible that a loss has been incurred, a disclosure of fact is made when the underlying loss or range of losses can also be reasonably estimated. The Company estimates that, as of September 30, 2015 , exposure to those losses could range from $0 to $6 million in excess of the accrued liability, if any, related to those matters. Due to the inherent unpredictability of such matters, the Company may have exposure to losses that are not yet predictable or cannot yet be reasonably estimated in addition to those amounts that have been accrued or disclosed. Third-Party Insurance The Company maintains third-party insurance coverage for certain legal proceedings, including those involving client claims. With respect to client claims, the estimated losses on many of the pending matters are less than the applicable deductibles of the insurance policies. The Company is also subject to extensive regulation and supervision by U.S. federal and state agencies and various self-regulatory organizations. The Company and its advisors periodically engage with such agencies and organizations, in the context of examinations or otherwise, to respond to inquiries, informational requests, and investigations. From time to time, such engagements result in regulatory complaints or other matters, the resolution of which can include fines and other remediation. Self-Insurance Liabilities The Company has self-insurance for certain potential liabilities, including various errors and omissions liabilities, through a wholly-owned captive insurance subsidiary. Liabilities associated with the risks that are retained by the Company are not discounted and are estimated by considering, in part, historical claims experience, severity factors, and other actuarial assumptions. The estimated accruals for these potential liabilities could be significantly affected if future occurrences and claims differ from such assumptions and historical trends. As of September 30, 2015 , these self-insurance liabilities are included in accounts payable and accrued liabilities in the unaudited condensed consolidated balance sheet. Self-insurance related charges are included in other expenses in the unaudited condensed consolidated statements of income for the three and nine months ended September 30, 2015 . Other Commitments As of September 30, 2015 , the Company had received collateral primarily in connection with client margin loans with a market value of approximately $344.6 million , which it can re-pledge, loan, or sell. Of these securities, approximately $29.4 million were client-owned securities pledged to the Options Clearing Corporation as collateral to secure client obligations related to options positions. As of September 30, 2015 there were no restrictions that materially limited the Company's ability to re-pledge, loan, or sell the remaining $315.2 million of client collateral. Trading securities on the unaudited condensed consolidated statements of financial condition includes $4.3 million and $4.0 million pledged to clearing organizations at September 30, 2015 and December 31, 2014 , respectively. The Company is involved in a build-to-suit lease arrangement in Fort Mill, South Carolina, under which it serves as the construction agent on behalf of the landlord. Under such arrangement, the Company has obligations to fund cost over-runs in its capacity as the construction agent, and accordingly has determined that under lease accounting standards it bears substantially all of the risks and rewards of ownership as measured under GAAP. The Company is therefore required to report the landlord's costs of construction on its balance sheet as a fixed asset during the construction period as if the Company owned such asset. As of September 30, 2015 , the Company has recorded $43.2 million in fixed assets in connection with this arrangement and an equal and off-setting leasehold financing obligation on the unaudited condensed consolidated statement of financial condition.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Stockholders' Equity Dividends The payment, timing, and amount of any dividends are subject to approval by the Board of Directors as well as certain limits under the Company's credit facilities. Cash dividends per share of common stock and total cash dividends paid on a quarterly basis were as follows for the periods indicated (in millions, except per share data): 2015 2014 Dividend per Share Total Cash Dividend Dividend per Share Total Cash Dividend First quarter $ 0.25 $ 24.2 $ 0.24 $ 24.1 Second quarter $ 0.25 $ 24.1 $ 0.24 $ 24.0 Third quarter $ 0.25 $ 23.8 $ 0.24 $ 24.0 Share Repurchases The Board of Directors has approved several share repurchase programs pursuant to which the Company may repurchase its issued and outstanding shares of common stock from time to time. Repurchased shares are included in treasury stock on the unaudited condensed consolidated statements of financial condition. Purchases may be effected in open market or privately negotiated transactions, including transactions with affiliates, with the timing of purchases and the amount of stock purchased generally determined at the discretion of the Company's management within the constraints of the Credit Agreement and general liquidity needs. For the three months ended September 30, 2015 and 2014 , the Company had the following activity under its approved share repurchase programs (in millions, except share and per share data): Three Months Ended September 30, 2015 2014 Approval Date Authorized Repurchase Amount Amount Remaining at September 30, 2015 Shares Purchased Weighted-Average Price Paid Per Share Total Cost(1) Shares Purchased Weighted-Average Price Paid Per Share Total Cost(1) February 10, 2014 $ 150.0 $ — — $ — $ — 531,426 $ 47.06 $ 25.0 April 28, 2015 $ 200.0 $ 152.2 593,868 $ 42.12 $ 25.0 — $ — $ — $ 152.2 593,868 $ 42.12 $ 25.0 531,426 $ 47.06 $ 25.0 _________________________ (1) Included in the total cost of shares purchased is a commission fee of $0.02 per share. For the nine months ended September 30, 2015 and 2014 , the Company had the following activity under its approved share repurchase programs (in millions, except share and per share data): Nine Months Ended September 30, 2015 2014 Approval Date Authorized Repurchase Amount Amount Remaining at September 30, 2015 Shares Purchased Weighted Average Price Paid Per Share Total Cost(1) Shares Purchased Weighted Average Price Paid Per Share Total Cost(1) May 28, 2013 $ 200.0 $ — — $ — $ — 1,306,288 $ 52.00 $ 67.9 February 10, 2014 $ 150.0 $ — — $ — $ — 1,683,424 $ 48.77 $ 82.1 October 1, 2014 $ 150.0 $ — 2,193,262 $ 42.39 $ 93.0 — $ — $ — April 28, 2015 $ 200.0 $ 152.2 1,131,790 $ 42.29 $ 47.8 — $ — $ — $ 152.2 3,325,052 $ 42.36 $ 140.8 2,989,712 $ 50.18 $ 150.0 _________________________ (1) Included in the total cost of shares purchased is a commission fee of $0.02 per share. See Note 14 . Related Party Transactions , for details regarding the repurchase of shares from related parties in 2014.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stockholders' Equity	Share-Based Compensation Certain employees, advisors, institutions, officers, and directors of the Company participate in various long-term incentive plans, which provide for granting stock options, warrants, restricted stock awards, and restricted stock units. Stock options and warrants generally vest in equal increments over a three - to five -year period and expire on the ten th anniversary following the date of grant. Restricted stock awards and restricted stock units generally vest over a two - to four -year period. In November 2010, the Company adopted a 2010 Omnibus Equity Incentive Plan (as amended and restated in May 2015, the “2010 Plan”), which provides for the granting of stock options, warrants, restricted stock awards, restricted stock units, and other equity-based compensation. The 2010 Plan serves as the successor to the 2005 Stock Option Plan for Incentive Stock Options, the 2005 Stock Option Plan for Non-qualified Stock Options, the 2008 Advisor and Institution Incentive Plan, the 2008 Stock Option Plan, and the Director Restricted Stock Plan (collectively, the “Predecessor Plans”). Upon adoption of the 2010 Plan, awards were no longer made under the Predecessor Plans; however, awards previously granted under the Predecessor Plans remain outstanding until exercised or forfeited. There were 20,055,945 shares authorized for grant under the 2010 Plan after the amendment and restatement of the plan in May 2015. There were 5,214,409 shares reserved for issuance upon exercise or conversion of outstanding awards granted, and 12,995,726 shares remaining available for future issuance, under the 2010 Plan as of September 30, 2015 . Stock Options and Warrants The following table presents the weighted-average assumptions used in the Black-Scholes valuation model by the Company in calculating the fair value of its employee and officer stock options that have been granted during the nine months ended September 30, 2015 : Expected life (in years) 5.30 Expected stock price volatility 25.78 % Expected dividend yield 2.30 % Risk-free interest rate 1.58 % Fair value of options $ 8.83 The fair value of each stock option or warrant awarded to advisors and financial institutions is estimated on the date of the grant and revalued at each reporting period using the Black-Scholes valuation model with the following weighted-average assumptions used during the nine months ended September 30, 2015 : Expected life (in years) 5.99 Expected stock price volatility 25.92 % Expected dividend yield 2.33 % Risk-free interest rate 1.51 % Fair value of options $ 11.11 The following table summarizes the Company’s stock option and warrant activity for the nine months ended September 30, 2015 : Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (In thousands) Outstanding — December 31, 2014 6,287,410 $ 31.59 Granted 1,141,309 $ 45.51 Exercised (799,783 ) $ 27.92 Forfeited (523,680 ) $ 39.26 Outstanding — September 30, 2015 6,105,256 $ 34.02 6.29 $ 35,117 Exercisable — September 30, 2015 3,523,282 $ 29.55 5.03 $ 36,018 The following table summarizes information about outstanding stock options and warrants at September 30, 2015 : Outstanding Exercisable Range of Exercise Prices Total Number of Shares Weighted- Average Exercise Price Weighted- Number of Shares Weighted- Average Exercise Price $18.04 - $23.02 1,082,705 $ 21.39 3.69 1,082,705 $ 21.39 $23.41 - $30.00 1,316,612 $ 28.21 5.12 875,567 $ 27.94 $31.60 - $32.33 1,133,954 $ 31.88 6.91 610,283 $ 31.91 $34.01 - $39.60 972,627 $ 34.59 5.43 744,954 $ 34.53 $43.74 - $54.81 1,599,358 $ 48.50 9.11 209,773 $ 53.73 6,105,256 $ 34.02 6.29 3,523,282 $ 29.55 The Company recognizes share-based compensation for stock options awarded to employees, officers, and directors based on the grant date fair value over the requisite service period of the award, which generally equals the vesting period. The Company recognized share-based compensation related to the vesting of these awards of $4.1 million and $3.8 million during the three months ended September 30, 2015 and 2014 , respectively, and $12.4 million and $11.4 million during the nine months ended September 30, 2015 and 2014 , respectively, which is included in compensation and benefits expense on the unaudited condensed consolidated statements of income. As of September 30, 2015 , total unrecognized compensation cost related to non-vested stock options granted to employees, officers, and directors was $13.0 million , which is expected to be recognized over a weighted-average period of 1.76 years. The Company recognizes share-based compensation for stock options and warrants awarded to its advisors and to financial institutions based on the fair value of the awards at each reporting period. The Company recognized share-based compensation of $0.1 million and $1.1 million during the three months ended September 30, 2015 and 2014 , respectively, and $1.8 million and $5.9 million for during the nine months ended September 30, 2015 and 2014 , respectively, related to the vesting of stock options and warrants awarded to its advisors and financial institutions, which is classified within commission and advisory expense on the unaudited condensed consolidated statements of income. As of September 30, 2015 , total unrecognized compensation cost related to non-vested stock options and warrants granted to advisors and financial institutions was $3.7 million , which is expected to be recognized over a weighted-average period of 1.76 years. Restricted Stock The following summarizes the Company’s activity in its restricted stock awards and restricted stock units for the nine months ended September 30, 2015 : Restricted Stock Awards Restricted Stock Units Number of Shares Weighted-Average Grant-Date Fair Value Number of Shares Weighted-Average Grant-Date Fair Value Nonvested at December 31, 2014 33,634 $ 42.78 546,725 $ 43.34 Granted 31,847 $ 41.42 352,643 $ 41.82 Vested (18,832 ) $ 37.66 (172,468 ) $ 39.53 Forfeited — $ — (82,371 ) $ 44.44 Nonvested at September 30, 2015 46,649 $ 43.92 644,529 $ 43.39 The Company recognizes share-based compensation for restricted stock awards and restricted stock units granted to its employees, officers, and directors based on the grant date fair value over the requisite service period of the award, which generally equals the vesting period. The Company recognized $2.0 million and $1.7 million of share-based compensation related to the vesting of these restricted stock awards and restricted stock units during the three months ended September 30, 2015 and 2014 , respectively, and $6.4 million and $4.4 million during the nine months ended September 30, 2015 and 2014 , respectively, which is included in compensation and benefits expense on the unaudited condensed consolidated statements of income. As of September 30, 2015 , total unrecognized compensation cost for restricted stock awards and restricted stock units granted to employees, officers, and directors was $12.6 million , which is expected to be recognized over a weighted-average remaining period of 1.99 years. The Company recognizes share-based compensation for restricted stock units granted to its advisors and to financial institutions based on the fair value of the awards at each reporting period. The Company recognized share-based compensation of $0.4 million and $0.4 million related to the vesting of these restricted stock units during the three months ended September 30, 2015 and 2014 , respectively, and $1.5 million and $0.6 million during the nine months ended September 30, 2015 and 2014 , respectively, which is classified within commission and advisory expense on the unaudited condensed consolidated statements of income. As of September 30, 2015 , total unrecognized compensation cost for restricted stock units granted to advisors and financial institutions was $6.2 million , which is expected to be recognized over a weighted-average remaining period of 2.25 years.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings per Share	Earnings Per Share Basic earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of shares of common stock outstanding during the period. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if dilutive potential shares of common stock had been issued. The calculation of basic and diluted earnings per share is as follows (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net income $ 41,052 $ 33,272 $ 141,972 $ 129,498 Basic weighted-average number of shares outstanding 94,972 100,052 95,744 100,519 Dilutive common share equivalents 1,500 1,782 1,559 1,865 Diluted weighted-average number of shares outstanding 96,472 101,834 97,303 102,384 Basic earnings per share $ 0.43 $ 0.33 $ 1.48 $ 1.29 Diluted earnings per share $ 0.43 $ 0.33 $ 1.46 $ 1.26 The computation of diluted earnings per share excludes stock options, warrants, and restricted stock units that are anti-dilutive. For the three months ended September 30, 2015 and 2014 , stock options, warrants, and restricted stock units representing common share equivalents of 2,068,568 shares and 1,478,016 shares, respectively, were anti-dilutive. For the nine months ended September 30, 2015 and 2014 , stock options, warrants, and restricted stock units representing common share equivalents of 1,975,454 shares and 1,344,782 shares, respectively, were anti-dilutive.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective income tax rate differs from the federal corporate tax rate of 35.0% , primarily as a result of state taxes, settlement contingencies, and expenses that are not deductible for tax purposes. These items resulted in effective tax rates of 40.2% and 40.0% for the three months ended September 30, 2015 and 2014 . The change between periods is due to various factors including the release of accruals for uncertain tax positions in 2014 due to completion of state tax audits. The effective tax rates for the nine months ended September 30, 2015 and 2014 were 40.2% and 39.5% , respectively. The change between periods is due to the release of accruals for uncertain tax positions in 2014 due to completion of state tax audits and a decrease in the number of incentive stock options exercised in 2015 compared to the same period in 2014. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has related party transactions with certain portfolio companies of TPG, one of the Company's significant stockholders, and the LPL Financial Foundation. During the nine months ended September 30, 2015 and 2014 , the Company recognized revenue for services provided to these related parties of $0.6 million and $0.7 million , respectively. The Company incurred expenses for services provided by certain of the TPG portfolio companies and the LPL Financial Foundation of $4.2 million and $0.9 million , during the nine months ended September 30, 2015 and 2014 , respectively. As of September 30, 2015 and 2014 , receivables from related parties were $0 and $0.1 million , respectively, and payables to related parties were $0.2 million and less than $0.1 million , respectively. In February 2014, the Company entered into a share repurchase agreement with an investment fund associated with TPG, pursuant to which the Company repurchased 1.9 million shares of its common stock at a price of $52.00 per share, for total consideration of $100.0 million .

Net Capital and Regulatory Requ

Net Capital and Regulatory Requirements	9 Months Ended
	Sep. 30, 2015
Brokers and Dealers [Abstract]
Net Capital and Regulatory Requirements	Net Capital and Regulatory Requirements The Company operates in a highly regulated industry. Applicable laws and regulations restrict permissible activities and investments and require compliance with various financial and customer-related regulations. The consequences of noncompliance can include substantial monetary and non-monetary sanctions. In addition, the Company is also subject to comprehensive examinations and supervision by various governmental and self-regulatory agencies. These regulatory agencies generally have broad discretion to prescribe greater limitations on the operations of a regulated entity for the protection of investors or public interest. Furthermore, where the agencies determine that such operations are unsafe or unsound, fail to comply with applicable law, or are otherwise inconsistent with the laws and regulations or with the supervisory policies, greater restrictions may be imposed. The Company’s registered broker-dealer, LPL Financial, is subject to the SEC’s Uniform Net Capital Rule (Rule 15c3-1 under the Exchange Act), which requires the maintenance of minimum net capital, as defined. Net capital and the related net capital requirement may fluctuate on a daily basis. LPL Financial is a clearing broker-dealer and had net capital of $153.1 million with a minimum net capital requirement of $6.5 million as of September 30, 2015 . The Company's subsidiary, The Private Trust Company N.A. (“PTC”), operates in a highly regulated industry and is subject to various regulatory capital requirements. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have substantial monetary and non-monetary impacts to PTC's operations. As of September 30, 2015 and December 31, 2014 , LPL Financial and PTC met all capital adequacy requirements to which they were subject.

Financial Instruments with Off-

Financial Instruments with Off-Balance-Sheet Credit Risk and Concentrations of Credit Risk	9 Months Ended
	Sep. 30, 2015
Concentration Risk Credit Risk Financial Instruments Off Balance Sheet Risk [Abstract]
Financial Instruments with Off-Balance-Sheet Credit Risk and Concentrations of Credit Risk	Financial Instruments with Off-Balance-Sheet Credit Risk and Concentrations of Credit Risk LPL Financial’s client securities activities are transacted on either a cash or margin basis. In margin transactions, LPL Financial extends credit to the advisor's client, subject to various regulatory and internal margin requirements, collateralized by cash or securities in the client’s account. As clients write options contracts or sell securities short, LPL Financial may incur losses if the clients do not fulfill their obligations and the collateral in the clients’ accounts is not sufficient to fully cover losses that clients may incur from these strategies. To control this risk, LPL Financial monitors margin levels daily and clients are required to deposit additional collateral, or reduce positions, when necessary. LPL Financial is obligated to settle transactions with brokers and other financial institutions even if its advisors' clients fail to meet their obligation to LPL Financial. Clients are required to complete their transactions on the settlement date, generally three business days after the trade date. If clients do not fulfill their contractual obligations, LPL Financial may incur losses. In addition, the Company occasionally enters into certain types of contracts to fulfill its sale of when, as, and if issued securities. When, as, and if issued securities have been authorized but are contingent upon the actual issuance of the security. LPL Financial has established procedures to reduce this risk by generally requiring that clients deposit cash or securities into their account prior to placing an order. LPL Financial may at times hold equity securities that are recorded on the unaudited condensed consolidated statements of financial condition at market value. While long inventory positions represent LPL Financial’s ownership of securities, short inventory positions represent obligations of LPL Financial to deliver specified securities at a contracted price, which may differ from market prices prevailing at the time of completion of the transaction. Accordingly, both long and short inventory positions may result in losses or gains to LPL Financial as market values of securities fluctuate. To mitigate the risk of losses, long and short positions are marked-to-market daily and are continuously monitored by LPL Financial.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events On October 25, 2015 , the Board of Directors declared a cash dividend of $0.25 per share on the Company's outstanding common stock to be paid on November 24, 2015 to stockholders of record on November 12, 2015 . On October 25, 2015, the Company's Board of Directors approved an increase in the Company's share repurchase plan by $347.8 million to a total of $500.0 million .

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Consolidation	Consolidation These unaudited condensed consolidated financial statements include the accounts of LPLFH and its subsidiaries. Intercompany transactions and balances have been eliminated. Equity investments in which the Company exercises significant influence but does not exercise control and is not the primary beneficiary are accounted for using the equity method.
Use of Estimates	Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenue and expenses, and related disclosures of contingent assets and liabilities. These estimates are based on the information that is currently available and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could vary from these estimates.
Reportable Segment	Reportable Segment The Company's internal reporting is organized into two service channels: Independent Advisor Services and Institution Services. These service channels are aggregated and viewed as one operating segment, and therefore, one reportable segment due to their similar economic characteristics, products and services, production and distribution processes, and regulatory environment.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial assets and liabilities are carried at fair value or at amounts that, because of their short-term nature, approximate current fair value, with the exception of its held-to-maturity securities and indebtedness. The Company carries its held-to-maturity securities and indebtedness at amortized cost. The Company measures the implied fair value of its debt instruments using trading levels obtained from a third-party service provider. Accordingly, the debt instruments qualify as Level 2 fair value measurements.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements There are no recently issued accounting pronouncements that would materially impact the Company's condensed consolidated statements of income, comprehensive income, financial condition, or cash flows.

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2015
Service Value Commitment [Member]
Restructuring Cost and Reserve [Line Items]
Summary of changes in accrued restructuring expense balances	The following table summarizes the balance of accrued expenses and the changes in the accrued amounts for the Program as of and for the nine months ended September 30, 2015 (in thousands): Accrued Balance at December 31, 2014 Costs Incurred Payments Accrued Balance at September 30, 2015 Cumulative Costs Incurred to Date Total Expected Restructuring Costs Outsourcing and other related costs $ — $ 1,198 $ (1,198 ) $ — $ 22,686 $ 23,500 Technology transformation costs 4,458 377 (4,424 ) 411 30,295 30,300 Employee severance obligations and other related costs 1,999 2,265 (3,358 ) 906 11,151 13,400 Asset impairments — — — — 842 842 Total $ 6,457 $ 3,840 $ (8,980 ) $ 1,317 $ 64,974 $ 68,042
Fortigent Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Summary of changes in accrued restructuring expense balances	The following table summarizes the balance of accrued expenses and the changes in the accrued amounts for the Fortigent restructuring as of and for the nine months ended September 30, 2015 (in thousands): Costs Incurred Payments Non-cash Accrued Balance at September 30, 2015 Cumulative Costs Incurred to Date Total Expected Restructuring Costs Employee severance obligations and other related costs $ 2,838 $ (1,816 ) $ — $ 1,022 $ 2,838 $ 2,900 Relocation and related costs 2,409 (1,816 ) — 593 2,409 3,600 Lease restructuring charges 793 (170 ) — 623 793 1,300 Asset impairments 821 — (821 ) — 821 1,200 Total $ 6,861 $ (3,802 ) $ (821 ) $ 2,238 $ 6,861 $ 9,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Financial assets and financial liabilities measured at fair value on a recurring basis	The following table summarizes the Company’s financial assets and financial liabilities measured at fair value on a recurring basis at September 30, 2015 (in thousands): Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 8,858 $ — $ — $ 8,858 Securities owned — trading: Money market funds 269 — — 269 Mutual funds 6,686 — — 6,686 Equity securities 80 — — 80 Debt securities — 5,266 — 5,266 U.S. treasury obligations 4,310 — — 4,310 Total securities owned — trading 11,345 5,266 — 16,611 Other assets 94,096 3,847 — 97,943 Total assets at fair value $ 114,299 $ 9,113 $ — $ 123,412 Liabilities Securities sold, but not yet purchased: Equity securities $ 193 $ — $ — $ 193 Debt securities — 31 — 31 Certificates of deposit — 2 — 2 Total securities sold, but not yet purchased 193 33 — 226 Accounts payable and accrued liabilities — — 527 527 Total liabilities at fair value $ 193 $ 33 $ 527 $ 753 The following table summarizes the Company’s financial assets and financial liabilities measured at fair value on a recurring basis at December 31, 2014 (in thousands): Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 22,592 $ — $ — $ 22,592 Securities owned — trading: Money market funds 293 — — 293 Mutual funds 7,570 — — 7,570 Equity securities 224 — — 224 Debt securities — 1,379 — 1,379 U.S. treasury obligations 4,000 — — 4,000 Total securities owned — trading 12,087 1,379 — 13,466 Other assets 75,540 5,058 — 80,598 Total assets at fair value $ 110,219 $ 6,437 $ — $ 116,656 Liabilities Securities sold, but not yet purchased: Mutual funds $ 13 $ — $ — $ 13 Equity securities 279 — — 279 Debt securities — 10 — 10 Total securities sold, but not yet purchased 292 10 — 302 Accounts payable and accrued liabilities — — 527 527 Total liabilities at fair value $ 292 $ 10 $ 527 $ 829

Held-to-Maturity Securities (Ta

Held-to-Maturity Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Summary of amortized cost, gross unrealized gain (loss), and fair value of securities held-to-maturity	The amortized cost, gross unrealized gain or loss, and fair value of securities held-to-maturity were as follows (in thousands): September 30, December 31, Amortized cost $ 10,847 $ 8,594 Gross unrealized gain (loss) 20 (14 ) Fair value $ 10,867 $ 8,580
Maturities of securities held-to-maturity	At September 30, 2015 , the securities held-to-maturity were scheduled to mature as follows (in thousands): Within one year After one but within five years After five but within ten years Total U.S. government notes — at amortized cost $ 5,000 $ 5,347 $ 500 $ 10,847 U.S. government notes — at fair value $ 5,005 $ 5,355 $ 507 $ 10,867

Derivative Financial Instrume30

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of non-deliverable foreign currency contracts	The details related to the remaining non-deliverable foreign currency contracts at September 30, 2015 are as follows (in millions, except foreign exchange rate): Settlement Date Hedged Notional Amount (INR) Contractual INR/USD Foreign Exchange Rate Hedged Notional Amount (USD) Cash flow hedge #3 6/2/2016 560.4 72.21 7.8 Cash flow hedge #4 6/2/2017 560.4 74.20 7.5 Total hedged amount $ 15.3
Schedule of the fair value of the derivative instruments	The fair value of the derivative instruments, included in other assets in the unaudited condensed consolidated statements of financial condition, were as follows (in thousands): September 30, December 31, Cash flow hedges $ 638 $ 1,179

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Outstanding borrowings	The Company’s outstanding borrowings as of the dates below were as follows (dollars in thousands): September 30, 2015 December 31, 2014 Senior Secured Credit Facilities Maturity Balance Interest Rate Balance Interest Rate Revolving Credit Facility 9/30/2019 $ 150,000 3.73 % $ 110,000 4.75 % Senior secured term loans: Term Loan A 9/30/2019 459,375 2.69 % 459,375 2.67 % Term Loan B 3/29/2019 1,056,754 3.25 % 1,064,883 3.25 % Total borrowings 1,666,129 1,634,258 Less current portion 160,839 120,839 Long-term borrowings — net of current portion $ 1,505,290 $ 1,513,419

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Summary of share repurchase program activity	For the three months ended September 30, 2015 and 2014 , the Company had the following activity under its approved share repurchase programs (in millions, except share and per share data): Three Months Ended September 30, 2015 2014 Approval Date Authorized Repurchase Amount Amount Remaining at September 30, 2015 Shares Purchased Weighted-Average Price Paid Per Share Total Cost(1) Shares Purchased Weighted-Average Price Paid Per Share Total Cost(1) February 10, 2014 $ 150.0 $ — — $ — $ — 531,426 $ 47.06 $ 25.0 April 28, 2015 $ 200.0 $ 152.2 593,868 $ 42.12 $ 25.0 — $ — $ — $ 152.2 593,868 $ 42.12 $ 25.0 531,426 $ 47.06 $ 25.0 _________________________ (1) Included in the total cost of shares purchased is a commission fee of $0.02 per share.
Dividends Declared [Table Text Block]	Cash dividends per share of common stock and total cash dividends paid on a quarterly basis were as follows for the periods indicated (in millions, except per share data): 2015 2014 Dividend per Share Total Cash Dividend Dividend per Share Total Cash Dividend First quarter $ 0.25 $ 24.2 $ 0.24 $ 24.1 Second quarter $ 0.25 $ 24.1 $ 0.24 $ 24.0 Third quarter $ 0.25 $ 23.8 $ 0.24 $ 24.0

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted-average assumptions used for calculating the fair value of stock options and warrants with the Black-Scholes valuation model	The following table presents the weighted-average assumptions used in the Black-Scholes valuation model by the Company in calculating the fair value of its employee and officer stock options that have been granted during the nine months ended September 30, 2015 : Expected life (in years) 5.30 Expected stock price volatility 25.78 % Expected dividend yield 2.30 % Risk-free interest rate 1.58 % Fair value of options $ 8.83 The fair value of each stock option or warrant awarded to advisors and financial institutions is estimated on the date of the grant and revalued at each reporting period using the Black-Scholes valuation model with the following weighted-average assumptions used during the nine months ended September 30, 2015 : Expected life (in years) 5.99 Expected stock price volatility 25.92 % Expected dividend yield 2.33 % Risk-free interest rate 1.51 % Fair value of options $ 11.11
Summary of stock option and warrant activity	The following table summarizes the Company’s stock option and warrant activity for the nine months ended September 30, 2015 : Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (In thousands) Outstanding — December 31, 2014 6,287,410 $ 31.59 Granted 1,141,309 $ 45.51 Exercised (799,783 ) $ 27.92 Forfeited (523,680 ) $ 39.26 Outstanding — September 30, 2015 6,105,256 $ 34.02 6.29 $ 35,117 Exercisable — September 30, 2015 3,523,282 $ 29.55 5.03 $ 36,018
Summary of outstanding stock options and warrant information	The following table summarizes information about outstanding stock options and warrants at September 30, 2015 : Outstanding Exercisable Range of Exercise Prices Total Number of Shares Weighted- Average Exercise Price Weighted- Number of Shares Weighted- Average Exercise Price $18.04 - $23.02 1,082,705 $ 21.39 3.69 1,082,705 $ 21.39 $23.41 - $30.00 1,316,612 $ 28.21 5.12 875,567 $ 27.94 $31.60 - $32.33 1,133,954 $ 31.88 6.91 610,283 $ 31.91 $34.01 - $39.60 972,627 $ 34.59 5.43 744,954 $ 34.53 $43.74 - $54.81 1,599,358 $ 48.50 9.11 209,773 $ 53.73 6,105,256 $ 34.02 6.29 3,523,282 $ 29.55
Summary of restricted stock awards and restricted stock units activity	The following summarizes the Company’s activity in its restricted stock awards and restricted stock units for the nine months ended September 30, 2015 : Restricted Stock Awards Restricted Stock Units Number of Shares Weighted-Average Grant-Date Fair Value Number of Shares Weighted-Average Grant-Date Fair Value Nonvested at December 31, 2014 33,634 $ 42.78 546,725 $ 43.34 Granted 31,847 $ 41.42 352,643 $ 41.82 Vested (18,832 ) $ 37.66 (172,468 ) $ 39.53 Forfeited — $ — (82,371 ) $ 44.44 Nonvested at September 30, 2015 46,649 $ 43.92 644,529 $ 43.39

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Basic and diluted earnings per share computations	The calculation of basic and diluted earnings per share is as follows (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net income $ 41,052 $ 33,272 $ 141,972 $ 129,498 Basic weighted-average number of shares outstanding 94,972 100,052 95,744 100,519 Dilutive common share equivalents 1,500 1,782 1,559 1,865 Diluted weighted-average number of shares outstanding 96,472 101,834 97,303 102,384 Basic earnings per share $ 0.43 $ 0.33 $ 1.48 $ 1.29 Diluted earnings per share $ 0.43 $ 0.33 $ 1.46 $ 1.26

Summary of Significant Accoun35

Summary of Significant Accounting Policies Reportable Segment (Details)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Number of Service Channels	2
Number of Operating Segments	1
Number of Reportable Segments	1

Summary of Significant Accoun36

Summary of Significant Accounting Policies Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Senior secured credit facilities	$ 1,666,129	$ 1,634,258
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of indebtedness	$ 1,658,100	$ 1,620,800

Restructuring (Details)

Restructuring (Details) $ in Thousands	Sep. 30, 2015USD ($)
Service Value Commitment [Member]
Restructuring Cost and Reserve [Line Items]
Total Expected Restructuring Costs	$ 68,042
Fortigent Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Total Expected Restructuring Costs	$ 9,000

Restructuring Table (SVC) (Deta

Restructuring Table (SVC) (Details) - Service Value Commitment [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Restructuring Reserve [Roll Forward]
Accrued Balance, Beginning of Period	$ 6,457
Costs Incurred	3,840
Payments	(8,980)
Accrued Balance, End of Period	1,317
Cumulative Costs Incurred to Date	64,974
Total Expected Restructuring Costs	68,042
Outsourcing and other related costs
Restructuring Reserve [Roll Forward]
Accrued Balance, Beginning of Period	0
Costs Incurred	1,198
Payments	(1,198)
Accrued Balance, End of Period	0
Cumulative Costs Incurred to Date	22,686
Total Expected Restructuring Costs	23,500
Technology transformation costs
Restructuring Reserve [Roll Forward]
Accrued Balance, Beginning of Period	4,458
Costs Incurred	377
Payments	(4,424)
Accrued Balance, End of Period	411
Cumulative Costs Incurred to Date	30,295
Total Expected Restructuring Costs	30,300
Employee severance obligations and other related costs
Restructuring Reserve [Roll Forward]
Accrued Balance, Beginning of Period	1,999
Costs Incurred	2,265
Payments	(3,358)
Accrued Balance, End of Period	906
Cumulative Costs Incurred to Date	11,151
Total Expected Restructuring Costs	13,400
Asset impairments
Restructuring Reserve [Roll Forward]
Accrued Balance, Beginning of Period	0
Costs Incurred	0
Payments	0
Accrued Balance, End of Period	0
Cumulative Costs Incurred to Date	842
Total Expected Restructuring Costs	$ 842

Restructuring Restructuring Tab

Restructuring Restructuring Table (Fortigent) (Details) - Fortigent Restructuring [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Costs Incurred	$ 6,861
Payments	(3,802)
Non-cash	(821)
Accrued Balance, End of Period	2,238
Cumulative Costs Incurred to Date	6,861
Total Expected Restructuring Costs	9,000
Employee severance obligations and other related costs
Restructuring Cost and Reserve [Line Items]
Costs Incurred	2,838
Payments	(1,816)
Non-cash	0
Accrued Balance, End of Period	1,022
Cumulative Costs Incurred to Date	2,838
Total Expected Restructuring Costs	2,900
Relocation and related costs
Restructuring Cost and Reserve [Line Items]
Costs Incurred	2,409
Payments	(1,816)
Non-cash	0
Accrued Balance, End of Period	593
Cumulative Costs Incurred to Date	2,409
Total Expected Restructuring Costs	3,600
Lease restructuring charges
Restructuring Cost and Reserve [Line Items]
Costs Incurred	793
Payments	(170)
Non-cash	0
Accrued Balance, End of Period	623
Cumulative Costs Incurred to Date	793
Total Expected Restructuring Costs	1,300
Asset impairments
Restructuring Cost and Reserve [Line Items]
Costs Incurred	821
Payments	0
Non-cash	(821)
Accrued Balance, End of Period	0
Cumulative Costs Incurred to Date	821
Total Expected Restructuring Costs	$ 1,200

Fair Value Measurements Financi

Fair Value Measurements Financial Assets and Liabilities Measured on a Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	$ 16,611	$ 13,466
Securities sold, but not yet purchased	226	302
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	8,858	22,592
Securities owned — trading	16,611	13,466
Other assets	97,943	80,598
Total assets at fair value	123,412	116,656
Securities sold, but not yet purchased	226	302
Accounts payable and accrued liabilities	527	527
Total liabilities at fair value	753	829
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	8,858	22,592
Securities owned — trading	11,345	12,087
Other assets	94,096	75,540
Total assets at fair value	114,299	110,219
Securities sold, but not yet purchased	193	292
Accounts payable and accrued liabilities	0	0
Total liabilities at fair value	193	292
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Securities owned — trading	5,266	1,379
Other assets	3,847	5,058
Total assets at fair value	9,113	6,437
Securities sold, but not yet purchased	33	10
Accounts payable and accrued liabilities	0	0
Total liabilities at fair value	33	10
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Securities owned — trading	0	0
Other assets	0	0
Total assets at fair value	0	0
Securities sold, but not yet purchased	0	0
Accounts payable and accrued liabilities	527	527
Total liabilities at fair value	527	527
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	2
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	0
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	2
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	0
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased		13
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased		13
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased		0
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased		0
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	193	279
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	193	279
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	0	0
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	0	0
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	31	10
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	0	0
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	31	10
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities sold, but not yet purchased	0	0
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	269	293
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	269	293
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	0	0
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	0	0
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	6,686	7,570
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	6,686	7,570
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	0	0
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	0	0
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	80	224
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	80	224
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	0	0
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	0	0
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	5,266	1,379
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	0	0
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	5,266	1,379
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	0	0
U.S. treasury obligations | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	4,310	4,000
U.S. treasury obligations | Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	4,310	4,000
U.S. treasury obligations | Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	0	0
U.S. treasury obligations | Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities owned — trading	$ 0	$ 0

Held-to-Maturity Securities (De

Held-to-Maturity Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Summary of amortized cost, gross unrealized (loss) gain and fair value of securities held-to-maturity
Amortized cost	$ 10,847	$ 8,594
U.S. government notes
Summary of amortized cost, gross unrealized (loss) gain and fair value of securities held-to-maturity
Amortized cost	10,847	8,594
Gross unrealized gain (loss)	20
Gross unrealized gain (loss)		(14)
Fair value	$ 10,867	$ 8,580

Held-to-Maturity Securities (42

Held-to-Maturity Securities (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Maturities of securities held-to-maturity
U.S. government notes - at amortized cost, Total	$ 10,847	$ 8,594
U.S. government notes
Maturities of securities held-to-maturity
U.S. government notes - at amortized cost, Within one year	5,000
U.S. government notes - at amortized cost, After one but within five years	5,347
U.S. government notes - at amortized cost, After five through ten years	500
U.S. government notes - at amortized cost, Total	10,847	8,594
U.S. government notes - at fair value, Total	10,867	$ 8,580
Fair Value, Inputs, Level 1 [Member] | U.S. government notes
Maturities of securities held-to-maturity
U.S. government notes - at fair value, Within one year	5,005
U.S. government notes - at fair value, After one but within five years	5,355
U.S. government notes - at fair value, After five through ten years	$ 507

Derivative Financial Instrume43

Derivative Financial Instruments (Details) ₨ in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2015INR (₨)	Sep. 30, 2015USD ($)	Sep. 30, 2014INR (₨)	Sep. 30, 2014USD ($)
Derivative [Line Items]
Derivative, Notional Amount		$ 15.3
Cash Flow Hedge 1 [Member]
Derivative [Line Items]
Derivative, Notional Amount	₨ 560.4	8.1	₨ 560.4	$ 8.5
Cash Flow Hedge 3 [Member]
Derivative [Line Items]
Settlement Date	Jun. 2, 2016
Derivative, Notional Amount	₨ 560.4	$ 7.8
Contractual INR/USD Foreign Exchange Rate	72.21	72.21
Cash Flow Hedge 4 [Member]
Derivative [Line Items]
Settlement Date	Jun. 2, 2017
Derivative, Notional Amount	₨ 560.4	$ 7.5
Contractual INR/USD Foreign Exchange Rate	74.20	74.20

Derivative Financial Instrume44

Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of cash flow hedges	$ 638	$ 1,179

Derivative Financial Instrume45

Derivative Financial Instruments (Details Textuals) ₨ in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015INR (₨)	Sep. 30, 2015USD ($)	Sep. 30, 2014INR (₨)	Sep. 30, 2014USD ($)
Derivative [Line Items]
Number of cash flow hedges entered into by the Company			4
Cash received on settlement of Cash Flow Hedge 1	$ 0.7	$ 1
Derivative, Notional Amount				$ 15.3
Cash Flow Hedge 1 [Member]
Derivative [Line Items]
Derivative, Notional Amount			₨ 560.4	$ 8.1	₨ 560.4	$ 8.5

Debt (Credit Agreement Outstand

Debt (Credit Agreement Outstanding)(Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Long-term Debt, Current and Noncurrent [Abstract]
Balance	$ 1,666,129	$ 1,634,258
Less current portion	160,839	120,839
Long-term borrowings — net of current portion	1,505,290	1,513,419
Secured Debt [Member] | Term Loan A [Member]
Long-term Debt, Current and Noncurrent [Abstract]
Balance	$ 459,375	$ 459,375
Interest Rate	2.69%	2.67%
Secured Debt [Member] | Term Loan B [Member]
Long-term Debt, Current and Noncurrent [Abstract]
Balance	$ 1,056,754	$ 1,064,883
Interest Rate	3.25%	3.25%
Revolving Credit Facility [Member] | Swingline Loan [Member]
Long-term Debt, Current and Noncurrent [Abstract]
Balance	$ 150,000	$ 110,000
Interest Rate	3.73%	4.75%

Debt (Credit Agreement Textuals

Debt (Credit Agreement Textuals)(Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Oct. 01, 2014
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity				$ 400
Applicable interest rate margin	2.50%	2.50%
Letters of credit, amount outstanding	$ 18		$ 18
Secured Debt [Member] | Eurodollar Rate [Member]
Debt Instrument [Line Items]
Applicable interest rate margin	2.50%
Secured Debt [Member] | Term Loan B [Member]
Debt Instrument [Line Items]
Payment terms of senior secured term loans			Term Loan B includes quarterly payments at an annual rate of 1.0% of principal per year, with the remaining principal and accrued interest due upon maturity.
Secured Debt [Member] | Term Loan A and Term Loan B [Member]
Debt Instrument [Line Items]
Interest rate terms of senior secured term loans			Borrowings under Term Loan A and Term Loan B bear interest at a base rate equal to a LIBOR based rate (the “Eurodollar Rate”) plus the applicable interest rate margin, or an alternative base rate (“ABR”) plus the applicable interest rate margin. The Eurodollar Rate with respect to Term Loan B shall in no event be less than 0.75%. The ABR is equal to the greatest of (a) the prime rate in effect on such day; (b) the effective federal funds rate in effect on such day plus 0.50%; (c) the Eurodollar Rate plus 1.00%; or (d) solely in the case of Term Loan B, 1.75%.
Secured Debt [Member] | Term Loan A and Term Loan B [Member] | Eurodollar Rate [Member]
Debt Instrument [Line Items]
Applicable interest rate margin		2.50%

Debt Debt (Bank Loans Payable T

Debt Debt (Bank Loans Payable Textuals) (Details)	Sep. 02, 2015	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Line of Credit Facility, Average Outstanding Amount		$ 600,000
Debt Instrument, Interest Rate During Period		2.00%
Line of Credit [Member]
Line of Credit Facility [Line Items]
Line of credit, amount outstanding		$ 0	$ 0	$ 0
Total number of uncommitted lines of credit			3
Number of uncommitted lines of credit with an unspecified limit			2
Line of credit, maximum borrowing capacity		$ 200,000,000	$ 200,000,000
Uncommitted lines of credit, utilized	1		1

Commitments and Contingencies (

Commitments and Contingencies (Leases) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Leases, Operating [Abstract]
Rent expense, operating leases	$ 6.2	$ 6.5	$ 19.4	$ 23.5

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Other Commitments) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Brokers and Dealers [Abstract]
Collateral security	$ 344,600
Amount pledged with client-owned securities	29,400
Remaining collateral securities that can be re-pledged, loaned, or sold	315,200
Security Owned and Pledged as Collateral, Fair Value [Abstract]
Trading securities pledged to clearing organizations	4,300	$ 4,000
Leasehold Financing Obligation	$ 43,182	$ 0

Commitments and Contingencies51

Commitments and Contingencies Commitments and Contingencies (Legal) (Details)	Sep. 30, 2015USD ($)
Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss, Portion Not Accrued	$ 0
Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss, Portion Not Accrued	$ 6,000,000

Stockholders' Equity (Dividends

Stockholders' Equity (Dividends Paid) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014
Stockholders' Equity Note [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.25	$ 0.25	$ 0.25	$ 0.24	$ 0.24	$ 0.24
Dividends	$ 23,800	$ 24,100	$ 24,200	$ 24,000	$ 24,000	$ 24,100
Total cash dividends paid during the quarter							$ 72,056	$ 72,104

Stockholdes' Equity (Share Repu

Stockholdes' Equity (Share Repurchases) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015	Sep. 30, 2014
Equity, Class of Treasury Stock [Line Items]
Amount Remaining at September 30, 2015	$ 152,200				$ 152,200
Shares Purchased	593,868		531,426		3,325,052	2,989,712
Weighted-Average Price Paid Per Share	$ 42.12		$ 47.06		$ 42.36	$ 50.18
Total Cost	$ 140,800	[1]	$ 25,000	[1]	$ 140,835	$ 150,021	[1]
Commission Fee Paid Per Repurchased Share					$ 0.02
May 2013 [Member]
Equity, Class of Treasury Stock [Line Items]
Authorized Repurchase Amount	200,000				$ 200,000
Amount Remaining at September 30, 2015	0				$ 0
Shares Purchased					0	1,306,288
Weighted-Average Price Paid Per Share					$ 0	$ 52
Total Cost					$ 0	$ 67,900
February 10, 2014
Equity, Class of Treasury Stock [Line Items]
Authorized Repurchase Amount	150,000				150,000
Amount Remaining at September 30, 2015	$ 0				$ 0
Shares Purchased	0		531,426		0	1,683,424
Weighted-Average Price Paid Per Share	$ 0		$ 47.06		$ 0	$ 48.77
Total Cost	$ 0	[1]	$ 25,000	[1]	$ 0	$ 82,100
October 2014 [Member]
Equity, Class of Treasury Stock [Line Items]
Authorized Repurchase Amount	150,000				150,000
Amount Remaining at September 30, 2015	0				$ 0
Shares Purchased					2,193,262	0
Weighted-Average Price Paid Per Share					$ 42.39	$ 0
Total Cost					$ 93,000	$ 0
April 2015 [Member]
Equity, Class of Treasury Stock [Line Items]
Authorized Repurchase Amount	200,000				200,000
Amount Remaining at September 30, 2015	$ 152,200				$ 152,200
Shares Purchased	593,868		0		1,131,790	0
Weighted-Average Price Paid Per Share	$ 42.12		$ 0		$ 42.29	$ 0
Total Cost	$ 25,000	[1]	$ 0	[1]	$ 47,800	$ 0
[1]	Included in the total cost of shares purchased is a commission fee of $0.02 per share.

Share-Based Compensation (Texua

Share-Based Compensation (Texuals) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares	20,055,945		20,055,945
Authorized unissued shares	5,214,409		5,214,409
Share-based compensation:
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	12,995,726		12,995,726
Stock options and warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			10 years
Minimum [Member] | Stock options and warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Minimum [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			2 years
Maximum [Member] | Stock options and warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Maximum [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Employees, officers, and directors [Member] | Stock options and warrants [Member]
Share-based compensation:
Share-based compensation	$ 4.1	$ 3.8	$ 12.4	$ 11.4
Share-based compensation cost unrecognized	13		$ 13
Non-vested compensation cost weighted-average period			1 year 9 months 5 days
Employees, officers, and directors [Member] | Restricted Stock [Member]
Share-based compensation:
Share-based compensation	2	1.7	$ 6.4	4.4
Share-based compensation cost unrecognized	12.6		$ 12.6
Non-vested compensation cost weighted-average period			1 year 11 months 25 days
Advisors and Financial Institutions [Member] | Stock options and warrants [Member]
Share-based compensation:
Share-based compensation	0.1	1.1	$ 1.8	5.9
Share-based compensation cost unrecognized	3.7		$ 3.7
Non-vested compensation cost weighted-average period			1 year 9 months 5 days
Advisors and Financial Institutions [Member] | Restricted stock units (RSUs) [Member]
Share-based compensation:
Share-based compensation	0.4	$ 0.4	$ 1.5	$ 0.6
Share-based compensation cost unrecognized	$ 6.2		$ 6.2
Non-vested compensation cost weighted-average period			2 years 3 months

Share-Based Compensation Stock

Share-Based Compensation Stock Option and Warrant Assumptions (Details) - Stock options and warrants [Member]	9 Months Ended
	Sep. 30, 2015$ / shares
Advisors and Financial Institutions [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life (in years)	5 years 11 months 25 days
Expected stock price volatility	25.92%
Expected dividend yield	2.33%
Risk-free interest rate	1.51%
Fair value of options	$ 11.11
Employees, officers, and directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life (in years)	5 years 3 months 20 days
Expected stock price volatility	25.78%
Expected dividend yield	2.30%
Risk-free interest rate	1.58%
Fair value of options	$ 8.83

Share-Based Compensation Stoc56

Share-Based Compensation Stock Option and Warrant Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares Outstanding, Beginning Balance	6,287,410
Number of Shares, Granted	1,141,309
Number of Shares, Exercised	(799,783)
Number of Shares, Forfeited	(523,680)
Number of Shares Outstanding, Ending Balance	6,105,256
Number of Shares Exercisable, Ending Balance	3,523,282
Weighted-Average Exercise Price, Granted	$ 45.51
Weighted-Average Exercise Price, Exercised	27.92
Weighted-Average Exercise Price, Forfeited	39.26
Weighted-Average Exercise Price, Outstanding, Ending Balance	34.02	$ 31.59
Weighted-Average Exercise Price, Exercisable, Ending Balance	$ 29.55
Weighted-Average Remaining Contractual Term, Options Outstanding	6 years 3 months 15 days
Weighted-Average Remaining Contractual Term, Options Exercisable	5 years 10 days
Aggregate Intrinsic Value, Outstanding, Ending Balance	$ 35,117
Aggregate Intrinsic Value, Outstanding, Ending Balance	$ 36,018

Share-Based Compensation Outsta

Share-Based Compensation Outstanding Stock Options and Warrant Information (Details)	3 Months Ended
	Sep. 30, 2015$ / sharesshares
Summary information about outstanding stock options and warrants
Total number of shares, Outstanding	6,105,256
Weighted-average remaining life (years), Outstanding	6 years 3 months 15 days
Weighted-average exercise price, Outstanding | $ / shares	$ 34.02
Number of shares, Exercisable	3,523,282
Weighted-average exercise price, Exercisable | $ / shares	$ 29.55
$18.04 - $23.02
Summary information about outstanding stock options and warrants
Total number of shares, Outstanding	1,082,705
Weighted-average remaining life (years), Outstanding	3 years 8 months 9 days
Weighted-average exercise price, Outstanding | $ / shares	$ 21.39
Number of shares, Exercisable	1,082,705
Weighted-average exercise price, Exercisable | $ / shares	$ 21.39
$23.41 - $30.00
Summary information about outstanding stock options and warrants
Total number of shares, Outstanding	1,316,612
Weighted-average remaining life (years), Outstanding	5 years 1 month 13 days
Weighted-average exercise price, Outstanding | $ / shares	$ 28.21
Number of shares, Exercisable	875,567
Weighted-average exercise price, Exercisable | $ / shares	$ 27.94
$31.60 - $32.33
Summary information about outstanding stock options and warrants
Total number of shares, Outstanding	1,133,954
Weighted-average remaining life (years), Outstanding	6 years 10 months 28 days
Weighted-average exercise price, Outstanding | $ / shares	$ 31.88
Number of shares, Exercisable	610,283
Weighted-average exercise price, Exercisable | $ / shares	$ 31.91
$34.01 - $39.60
Summary information about outstanding stock options and warrants
Total number of shares, Outstanding	972,627
Weighted-average remaining life (years), Outstanding	5 years 5 months 5 days
Weighted-average exercise price, Outstanding | $ / shares	$ 34.59
Number of shares, Exercisable	744,954
Weighted-average exercise price, Exercisable | $ / shares	$ 34.53
$43.74 - $54.81
Summary information about outstanding stock options and warrants
Total number of shares, Outstanding	1,599,358
Weighted-average remaining life (years), Outstanding	9 years 1 month 10 days
Weighted-average exercise price, Outstanding | $ / shares	$ 48.50
Number of shares, Exercisable	209,773
Weighted-average exercise price, Exercisable | $ / shares	$ 53.73

Restricted Stock Activity (Deta

Restricted Stock Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Restricted stock awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Shares, Beginning Balance			33,634
Number of Shares, Granted			31,847
Number of Shares, Vested			(18,832)
Number of Shares, Forfeited			0
Number of Shares, Ending Balance	46,649		46,649
Weighted-Average Grant-Date Fair Value, Beginning Balance	$ 43.92		$ 43.92		$ 42.78
Weighted-Average Grant-Date Fair Value, Granted			41.42
Weighted-Average Grant-Date Fair Value, Vested			37.66
Weighted-Average Grant-Date Fair Value, Forfeited			0
Weighted-Average Grant-Date Fair Value, Ending Balance	$ 43.92		$ 43.92
Restricted stock units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Shares, Beginning Balance			546,725
Number of Shares, Granted			352,643
Number of Shares, Vested			(172,468)
Number of Shares, Forfeited			(82,371)
Number of Shares, Ending Balance	644,529		644,529
Weighted-Average Grant-Date Fair Value, Beginning Balance	$ 43.39		$ 43.39		$ 43.34
Weighted-Average Grant-Date Fair Value, Granted			41.82
Weighted-Average Grant-Date Fair Value, Vested			39.53
Weighted-Average Grant-Date Fair Value, Forfeited			44.44
Weighted-Average Grant-Date Fair Value, Ending Balance	$ 43.39		$ 43.39
Advisors and Financial Institutions [Member] | Restricted stock units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 0.4	$ 0.4	$ 1.5	$ 0.6
Employees, officers, and directors [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 2	$ 1.7	$ 6.4	$ 4.4

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 41,052	$ 33,272	$ 141,972	$ 129,498
Basic weighted-average number of shares outstanding	94,972	100,052	95,744	100,519
Dilutive common share equivalents	1,500	1,782	1,559	1,865
Diluted weighted-average number of shares outstanding	96,472	101,834	97,303	102,384
Basic earnings per share	$ 0.43	$ 0.33	$ 1.48	$ 1.29
Diluted earnings per share	$ 0.43	$ 0.33	$ 1.46	$ 1.26

Earnings per Share (Textuals) (

Earnings per Share (Textuals) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of Earnings per Share amount	2,068,568	1,478,016	1,975,454	1,344,782

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Federal statutory income tax rate			35.00%
Effective income tax rate	40.20%	40.00%	40.20%	39.50%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 12, 2014	Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015	Sep. 30, 2014
Related Party Transaction [Line Items]
Shares Purchased		593,868		531,426		3,325,052	2,989,712
Weighted-Average Price Paid Per Share		$ 42.12		$ 47.06		$ 42.36	$ 50.18
Total Cost of Shares Repurchased During Period		$ 140,800	[1]	$ 25,000	[1]	$ 140,835	$ 150,021	[1]
TPG Capital [Member]
Related Party Transaction [Line Items]
Revenue from related party transactions						600	700
Related party transactions expenses						4,200	900
Related party receivables		0		$ 100		0	$ 100
Related party payables		$ 200				$ 200
Shares Purchased	1,900,000
Weighted-Average Price Paid Per Share	$ 52
Total Cost of Shares Repurchased During Period	$ 100,000
[1]	Included in the total cost of shares purchased is a commission fee of $0.02 per share.

Net Capital and Regulatory Re63

Net Capital and Regulatory Requirements (Details) $ in Millions	Sep. 30, 2015USD ($)
Net capital and net capital requirements for the Company's broker-dealer subsidiaries
Net Capital	$ 153.1
Minimum Net Capital Required for Broker-Dealer Subsidiary	$ 6.5

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 25, 2015	Sep. 30, 2015
Subsequent Event [Line Items]
Remaining Authorized Repurchase Amount		$ 152.2
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends Payable, Date Declared	Oct. 25, 2015
Dividends Payable, Amount Declared Per Share	$ 0.25
Dividends Payable, Date to be Paid	Nov. 24, 2015
Dividends Payable, Date of Record	Nov. 12, 2015
Remaining Authorized Repurchase Amount	$ 500
October 2015 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Authorized Repurchase Amount	$ 347.8