Financial Engines 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 31, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	FNGN
Entity Registrant Name	FINANCIAL ENGINES, INC.
Entity Central Index Key	1,430,592
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		61,787,476

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 101,238	$ 305,216
Short-term investments		39,936
Accounts receivable, net	88,395	71,287
Prepaid expenses	7,447	4,486
Other current assets	5,606	3,061
Total current assets	202,686	423,986
Property and equipment, net	26,624	20,385
Intangible assets, net	201,462	7,085
Goodwill	300,943
Long-term deferred tax assets	35,867	21,780
Direct response advertising, net	6,493	7,186
Other assets	2,068	2,158
Total assets	776,143	482,580
Current liabilities:
Accounts payable	25,159	26,933
Accrued compensation	18,059	17,101
Deferred revenue	6,217	6,400
Dividend payable	3,697	3,615
Other current liabilities	3,793	1,169
Total current liabilities	56,925	55,218
Long-term deferred rent	11,970	9,485
Long-term tax liabilities	2,206	2,206
Other liabilities	481	524
Total liabilities	71,582	67,433
Contingencies (see Note 11)
Stockholders’ equity:
Preferred stock, $0.0001 par value - 10,000 authorized as of December 31, 2015 and June 30, 2016; None issued or outstanding as of December 31, 2015 and June 30, 2016
Common stock, $0.0001 par value - 500,000 authorized as of December 31, 2015 and June 30, 2016; 52,972 and 63,054 shares issued and 51,695 and 61,777 shares outstanding as of December 31, 2015 and June 30, 2016, respectively	6	5
Additional paid-in capital	746,815	461,139
Treasury stock, at cost (1,277 shares and 1,277 shares as of December 31, 2015 and June 30, 2016, respectively)	(47,637)	(47,637)
Retained Earnings	5,377	1,640
Total stockholders’ equity	704,561	415,147
Total liabilities and stockholders’ equity	$ 776,143	$ 482,580

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	63,054,000	52,972,000
Common stock, shares outstanding	61,777,000	51,695,000
Treasury stock, shares	1,277,000	1,277,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue:
Professional management	$ 96,071	$ 69,693	$ 178,877	$ 136,276
Platform	7,173	7,735	14,271	15,625
Other	2,989	811	5,143	1,284
Total revenue	106,233	78,239	198,291	153,185
Costs and expenses:
Cost of revenue	46,540	33,691	85,871	64,582
Research and development	8,967	8,839	18,234	17,784
Sales and marketing	21,686	16,107	40,149	30,722
General and administrative	9,809	6,282	24,409	13,440
Amortization of intangible assets, including internal use software	4,099	1,281	7,125	2,457
Total costs and expenses	91,101	66,200	175,788	128,985
Income from operations	15,132	12,039	22,503	24,200
Interest income (expense), net	(20)	82	(16)	144
Other (expense), net	(427)	(17)	(460)	(17)
Income before income taxes	14,685	12,104	22,027	24,327
Income tax expense	5,642	3,604	9,655	7,926
Net and comprehensive income	$ 9,043	$ 8,500	$ 12,372	$ 16,401
Dividends declared per share of common stock	$ 0.07	$ 0.07	$ 0.14	$ 0.14
Net income per share attributable to holders of common stock
Basic	0.15	0.16	0.21	0.32
Diluted	$ 0.14	$ 0.16	$ 0.20	$ 0.31
Shares used to compute net income per share attributable to holders of common stock
Basic	61,716	51,780	59,986	51,851
Diluted	62,770	53,194	60,979	53,241

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income	$ 12,372	$ 16,401
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,307	2,945
Amortization of intangible assets	6,922	2,294
Stock-based compensation	14,727	12,716
Amortization of deferred sales commissions	831	764
Amortization and impairment of direct response advertising	2,425	2,726
Amortization of (discount) on short-term investments	(5)	(147)
Provision for doubtful accounts	455	500
Write-off of notes receivable	240
Deferred tax	4,462	(2,696)
Loss on fixed asset disposal	133
Loss on sale of short-term investments	18
Excess tax benefit associated with stock-based compensation	(5,394)	(10,048)
Changes in operating assets and liabilities, net of acquired assets and liabilities:
Accounts receivable	(1,207)	(5,153)
Prepaid expenses	(1,447)	(166)
Direct response advertising	(1,740)	(2,367)
Other assets	(1,816)	(293)
Accounts payable	(7,492)	14,209
Accrued compensation	(5,059)	1,197
Deferred revenue	(312)	845
Deferred rent	699	190
Other liabilities	(2,131)
Net cash provided by operating activities	20,988	33,917
Cash flows from investing activities:
Purchase of property and equipment	(3,955)	(2,549)
Capitalization of internal use software	(3,568)	(2,211)
Purchases of short-term investments		(119,704)
Maturities of short-term investments		90,000
Sale of short-term investments	39,923
Cash paid for acquisitions, net of cash acquired	(254,610)
Net cash used in investing activities	(222,210)	(34,464)
Cash flows from financing activities:
Payments on capital lease obligations	(53)	(58)
Excess tax benefit associated with stock-based compensation	5,394	10,048
Net share settlements for minimum tax withholdings	(656)	(587)
Repurchase of common stock		(27,301)
Proceeds from issuance of common stock	1,112	6,037
Cash dividend payments	(8,553)	(6,741)
Net cash used in financing activities	(2,756)	(18,602)
Net decrease in cash and cash equivalents	(203,978)	(19,149)
Cash and cash equivalents, beginning of period	305,216	126,564
Cash and cash equivalents, end of period	101,238	107,415
Supplemental cash flows information:
Income taxes paid, net of refunds	2,389	1,449
Interest paid	7	5
Non-cash operating, investing and financing activities:
Issuance of common stock related to acquisition	267,018
Unpaid purchases of property and equipment	680	660
Purchase of property and equipment with noncash tenant improvement allowance	1,924
Purchase of property and equipment under capital lease		194
Capitalized stock-based compensation for internal use software	388	183
Capitalized stock-based compensation for direct response advertising	42	44
Dividends declared but not yet paid	$ 3,697	$ 3,613

Organization and Description of

Organization and Description of the Business	6 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Description of the Business	NOTE 1 — Organization and Description of the Business The Company Financial Engines, Inc. (the Company) was incorporated on May 13, 1996 under the laws of the State of California and is headquartered in Sunnyvale, California. In February 2010, the Company was reincorporated under the laws of the State of Delaware. Financial Engines is a leading provider of technology-enabled comprehensive financial advisory services, including financial planning, investment management and retirement income solutions, covering accounts including employer-sponsored defined contribution (DC) accounts (401(k), 457, and 403(b) plans), IRA accounts, and taxable accounts. The Company helps individuals, either online or with an advisor, develop a strategy to reach investing and retirement goals by offering a comprehensive set of services, including holistic, personalized plans for saving and investing, assessments of retirement income, and the option to meet face-to-face with a dedicated financial advisor at one of more than 125 advisor centers nationwide. The Company’s investment advisory and management services are provided through its subsidiary, Financial Engines Advisors L.L.C., a federally registered investment adviser. In February 2016, we completed the acquisition of Kansas City 727 Acquisition LLC, a Delaware limited liability corporation, as well as its subsidiaries (collectively, “The Mutual Fund Store”).

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	NOTE 2 — Basis of Presentation and Principles of Consolidation Interim Financial Statements The accompanying condensed consolidated financial statements and notes thereto are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015, as filed on February 19, 2016 with the SEC (the 2015 Annual Report). The Condensed Consolidated Balance Sheet as of December 31, 2015, included herein, was derived from the audited financial statements as of that date but does not include all disclosures including notes required by GAAP. The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments necessary for the fair presentation of the Company’s Balance Sheets as of December 31, 2015 and June 30, 2016, the Company’s Statements of Income for the three and six months ended June 30, 2015 and 2016 and the Company’s Statements of Cash Flows for the six months ended June 30, 2015 and 2016. The results for the three and six months ended June 30, 2016 are not necessarily indicative of the results to be expected for the year ending December 31, 2016. The unaudited condensed consolidated financial statements include the accounts of the Company and all of its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income is the same as net income for all periods presented. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates under different assumptions or conditions. Segment Information The Company’s chief operating decision-maker, its chief executive officer, reviews the Company’s operating results on an aggregate, consolidated basis and manages its operations as a single operating segment. In addition, all of the Company’s operations and assets are based in the United States. Following The Mutual Fund Store acquisition discussed in Note 3, the Company re-examined its reporting and operating structure, and determined it continues to operate as a single operating and reportable segment. Business Combinations The Company accounts for business combinations under the acquisition method. The cost of an acquired company is assigned to the tangible and intangible assets acquired and the liabilities assumed on the basis of their fair values at the date of acquisition. The determination of fair values of assets acquired and liabilities assumed requires management to make estimates and use valuation techniques when market values are not readily available. Any excess of the aggregate purchase price over the fair value of net tangible and identifiable intangible assets acquired is allocated to goodwill. Transaction costs associated with business combinations are expensed as incurred. Goodwill and Intangible Assets Goodwill consists of the excess of the aggregate purchase price over the fair value of net tangible and identifiable intangible assets acquired by the Company. The carrying amount of goodwill is tested for impairment each year in the fourth quarter, or more frequently if facts and circumstances warrant a review, by using a two-step process. The Company has concluded that it has a single reporting unit for the purpose of goodwill impairment testing, and accordingly, all goodwill resides within a single reporting unit. The Company compares the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying value, goodwill of the reporting unit is not considered impaired. If the carrying value of the reporting unit exceeds its fair value, the Company would perform a measurement of the amount of impairment by comparing the carrying amount of the goodwill to a determination of the implied fair value of the goodwill. If the carrying amount of the goodwill is greater than the implied value, an impairment loss is recognized for the difference. The Company does not have any indefinite lived intangible assets besides goodwill. Intangible assets with definite useful lives are recorded at cost less accumulated amortization. Intangible assets are reviewed for impairment whenever events or changes in circumstances may affect the recoverability of the net assets. Such reviews include an analysis of current results and take into consideration the undiscounted value of projected operating cash flows. Intangible assets consist primarily of customer relationships, trademarks, trade names and internal use software. These intangible assets are acquired through business combinations or, in the case of capitalized software costs, are internally developed. Intangible assets are amortized on a straight-line basis over their estimated useful lives which range from less than 1 year to 20 years. Long-Lived Assets Long-lived assets, such as property, equipment, capitalized internal use software, direct response advertising and intangible assets subject to depreciation and amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or an asset group may not be recoverable. When such events or changes in circumstances occur, the Company assesses recoverability by determining whether the carrying value of such assets or asset group will be recovered through the undiscounted expected future cash flows. If the future undiscounted cash flows of the assets are less than their carrying amount, the Company would recognize an impairment loss based on any excess of the carrying amount of the asset over their fair value. Impairment charges related to long-lived assets were immaterial for the periods presented. Revenue Recognition The Company recognizes revenue when all of the following conditions are met: · There is persuasive evidence of an arrangement, as evidenced by a signed contract; · Delivery has occurred or the service has been made available to the customer, which occurs upon completion of implementation and connectivity services, if applicable, and acceptance by the customer; · The collectability of the fees is reasonably assured; and · The amount of fees to be paid by the customer is fixed or determinable. The Company generates its revenue through three primary sources: professional management, platform and other revenue. Professional Management. The Company derives professional management revenue from client fees paid by or on behalf of both DC clients and individual investor clients who are enrolled in the Company’s professional management service for the management of their account assets. The professional management service is a discretionary investment advisory service that can include comprehensive financial planning, investment management and retirement income services. The services are generally made available to prospective clients by written agreements with the plan provider, the plan sponsor and the plan participant in a DC plan, and by written agreements with individual investors; and may be provided on a subadvisory basis. The Company’s arrangements with clients generally provide for fees based on the value of assets the Company manages and are generally payable quarterly in arrears. Fees billed to clients are determined by the value of the assets in the client’s account at specified dates with no judgments or estimates on the part of the Company, and are recognized as the services are performed. T he Company uses estimates primarily related to the portion of professional management revenue that has not been invoiced and is not otherwise due from the customer at period end, but has been earned by the Company. The Company estimates the amount of revenue that would be due to it at the end of the period as if the contract were terminated at that date. This calculation, referred to as the hypothetical liquidation method, is determined by multiplying the actual assets under management (AUM) at the end of the period for each client by the basis points of the respective client from the most recent quarterly billing cycle. In certain instances, fees payable by plan participants are deferred for a specified period, and are waived if the plan participant cancels within the specified period. The Company recognizes revenue during certain of these fee deferral periods based on the estimate of the expected fee retention rate determined by historical experience of similar arrangements. Platform. The Company derives platform revenue from recurring, subscription-based fees for access to its services, including professional management, online advice, education and guidance, and to a lesser extent, from setup fees. The arrangements generally provide for fees to be paid by the plan sponsor, plan provider or the DC plan itself, depending on the plan structure. Platform revenue is generally paid annually or quarterly in advance and recognized ratably over the term of the subscription period beginning after the completion of customer setup and data connectivity. Setup fees are recognized ratably over seven years. Other. Other revenue includes franchise royalty fees, fees for non-retirement account servicing, reimbursement for a portion of marketing and client materials from certain subadvisory relationships and reimbursement for providing personal statements to prospective clients from a limited number of plan sponsors. Costs associated with these reimbursed printed fulfillment materials are expensed to cost of revenue as incurred. Franchise royalty fees are recognized as revenue as the services are performed by the franchisees based on specified percentages of the franchisees’ advisory fees billed to their clients. Franchise royalty fees charged by the franchisees to their clients are primarily based on predetermined percentages of the market value of the AUM and are affected by changes in the AUM. The fees for non-retirement account servicing do not impact client fees paid for professional management, and are disclosed in the applicable Form ADV of the Company’s advisory subsidiaries. Cost of Revenue Cost of revenue includes fees paid to plan providers for connectivity to plan and plan participant data, printed materials fulfillment costs for certain subadvisory relationships for which a portion are reimbursed, printed client materials, and employee-related costs for in-person dedicated advisor centers and call center advisors, operations, implementations, technical operations, portfolio management and client service administration. Costs in this area are related primarily to payments to third parties, employee compensation and related expenses, facilities expenses, purchased materials and depreciation. The expenses included in cost of revenue are shared across the different revenue categories, and the Company is not able to meaningfully allocate such costs between separate categories of revenue. Consequently, all costs and expenses applicable to the Company’s revenue are included in the category cost of revenue in the Unaudited Condensed Consolidated Statements of Income. A portion of the amortization of intangible assets, including internal use software, relates to the Company’s cost of revenue but is reflected together with all amortization of intangible assets as a separate line item in the Company’s Unaudited Condensed Consolidated Statements of Income . Recent Accounting Pronouncements On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This new standard may also impact how the Company accounts for certain direct costs associated with its revenues. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard would become effective for the Company on January 1, 2018 and early adoption would be permitted on January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. On February 25, 2016, FASB issued ASU No. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures. In March 2016, FASB issued ASU No. ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. The ASU simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, the ASU is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Although early adoption is permitted, the Company does not intend to adopt early. The Company is evaluating the effect that ASU 2016-09 will have on its consolidated financial statements and related disclosures.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Business Combinations	NOTE Acquisition of The Mutual Fund Store On February 1, 2016, the Company completed the acquisition of The Mutual Fund Store pursuant to an Agreement and Plan of Mergers, dated November 5, 2015, as amended. The acquisition is expected to enable the Company to expand its independent advisory services to defined contribution participants through comprehensive financial planning and the option to meet face-to-face with a dedicated financial (In thousands, except shares and share price) Cash consideration $ 246,001 Number of shares 9,885,889 Share price as of closing $ 27.01 Stock consideration 267,018 Total consideration $ 513,019 The total acquisition consideration has been preliminarily allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition, including 22 franchised store agreements. The assets acquired consist primarily of customer relationships, accounts receivable, and trade names and trademarks. The intangible assets will be amortized based upon their estimated useful lives on a straight-lined basis. The table below represents a preliminary allocation of the total acquisition consideration to The Mutual Fund Store’s tangible and intangible assets and liabilities as of February 1, 2016 based on the Company’s preliminary estimate of their respective fair values: (In thousands) Assets acquired $ 48,117 Identifiable intangible assets 191,020 Goodwill 293,624 Liabilities assumed (19,742 ) Total consideration $ 513,019 Upon completion of the fair value assessment after the acquisition, it is anticipated that the final purchase price allocation will differ from the preliminary allocation outlined above. Any changes to the initial estimates of the fair value of assets and liabilities that are made within the measurement period, which will not exceed one year, will be recorded as adjustments to those assets and liabilities and residual amounts will be allocated to goodwill. A summary of intangible assets acquired and estimated useful lives is as follows: (In thousands, except life in years) Estimated Fair Value Weighted Average Life in Years Customer relationships $ 151,300 19 Franchise agreements 350 less than 1 year Favorable leases, net 140 6 Trademarks/Trade names 39,230 20 Total $ 191,020 The preliminary purchase price allocations resulted in $293.6 million of goodwill, of which approximately $163.8 million is expected to be deductible for tax purposes. The goodwill arising from the acquisition represents the expected synergistic benefits of the transaction, including the benefit of operational leverage resulting from expanding the Company’s independent advisory services, and the knowledge and experience of the acquired workforce. The results of The Mutual Fund Store operations are included in the Unaudited Condensed Consolidated Statements of Income beginning February 1, 2016. The Mutual Fund Store’s revenue for the five-month period ended June 30, 2016 totaled $44.5 million. The Company incurred transaction costs totaling $6.2 million during the six months ended June 30, 2016 that were expensed as incurred in general and administrative expense in its Unaudited Condensed Consolidated Statements of Income. There were no transaction expenses incurred for the three months ended June 30, 2016 in connection with this acquisition. The Mutual Fund Store had an existing compensation arrangement with its key executives for $5.8 million. Fifty percent of the compensation payment, approximately $2.9 million, was payable upon the closing of the acquisition and is reflected in the purchase consideration transferred at closing. The remaining fifty percent of the compensation payment, approximately $2.9 million, requires the executives to be employed with the Company for agreed-upon service periods and therefore will be accounted for as post-combination compensation expense. Pro forma results for Financial Engines, Inc. giving effect to The Mutual Fund Store acquisition (Unaudited) The following unaudited pro forma financial information presents the combined results of operations of Financial Engines and The Mutual Fund Store for the three and six months ended June 30, 2015 and 2016 as if the acquisition had occurred as of January 1, 2015. The unaudited pro forma results presented include amortization charges for acquired intangible assets and stock-based compensation expense, and the elimination of intercompany transactions, imputed interest expense, and transaction-related expenses, and the related tax effect on the aforementioned items. Unaudited pro forma financial information is presented for informational purposes and is not indicative of the results of operations that would have been achieved if the acquisition had occurred as of January 1, 2015. Three Months Ended June 30, Six Months Ended June 30, 2015 2016 2015 2016 (In thousands, except per share data) Revenue $ 102,920 $ 106,232 $ 201,580 $ 206,373 Net income (1) $ 11,029 $ 10,057 $ 20,057 $ 19,798 Net income per share: Basic $ 0.18 $ 0.16 $ 0.32 $ 0.33 Diluted $ 0.17 $ 0.16 $ 0.32 $ 0.32 ( 1) Disclosure of the specific net income of The Mutual Fund Store subsequent to the acquisition, for the periods presented, is impracticable as the operations of The Mutual Fund Store are integrated with the Company’s operations and not separately tracked. Acquisition of Franchises April 2016 In April 2016, the Company completed the acquisition of the seven franchises listed below for total aggregate cash consideration of $14.4 million. THE MUTUAL FUND STORE® - Charleston THE MUTUAL FUND STORE® - Providence THE MUTUAL FUND STORE® - Pittsburg THE MUTUAL FUND STORE® - Philadelphia THE MUTUAL FUND STORE® - Miami THE MUTUAL FUND STORE® - Toledo THE MUTUAL FUND STORE® - Columbia The acquisitions are expected to enable the Company to have greater oversight and control over the operations of these advisor center locations. The preliminary purchase price allocation is subject to certain closing and post-closing adjustments. Approximately $0.8 million in holdback amounts have been reserved with respect to indemnification claims on behalf of the Company, which are expected to be paid in April 2017. The total acquisition consideration has been preliminarily allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition. The assets acquired consist primarily of intangible customer relationships and reacquired franchise rights. The intangible assets will be amortized based upon their estimated useful lives on a straight-lined basis. The table below represents a preliminary allocation of the aggregate acquisition consideration based on the Company’s preliminary estimate of their respective fair values: (In thousands) Assets acquired $ 698 Identifiable intangible assets 6,527 Goodwill 7,319 Liabilities assumed (95 ) Total consideration $ 14,449 Upon completion of the fair value assessment after the acquisitions, it is anticipated that the final purchase price allocation will differ from the preliminary allocation outlined above. Any changes to the initial estimates of the fair value of assets and liabilities that are made within the measurement period, which will not exceed one year, will be recorded as adjustments to those assets and liabilities and residual amounts will be allocated to goodwill. A summary of intangible assets acquired and estimated useful lives is as follows: (In thousands, except life in years) Estimated Fair Value Weighted Average Life in Years Customer relationships $ 5,842 15 Reacquired franchise rights 685 9 Total $ 6,527 The preliminary purchase price allocations resulted in $7.3 million of goodwill, all of which is expected to be deductible for tax purposes. The goodwill arising from the acquisition represents the expected synergistic benefits of the transaction, including the benefit of operational leverage and the knowledge and experience of the acquired workforce. The Company incurred transaction costs totaling $0.1 million during the three and six months ended June 30, 2016 that were expensed as incurred in general and administrative expense in its Unaudited Condensed Consolidated Statements of Income. Subsequent to these acquisitions, the Company still operates 15 franchises as of June 30, 2016, of which eight more were acquired in July and August 2016 (see Note 12). The Company wrote off $0.2 million in notes receivable related to the July franchise acquisitions as they were deemed to be uncollectable during the three months ended June 30, 2016.

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2016
Cash And Cash Equivalents [Abstract]
Cash and Cash Equivalents	NOTE 4 — Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less from date of purchase to be cash equivalents. Cash equivalents are comprised of cash held primarily in money market accounts. Cash and cash equivalents consist of the following: December 31, June 30, 2015 2016 (In thousands) Cash $ 34,063 $ 50,502 Money market fund 271,153 50,736 Total cash and cash equivalents $ 305,216 $ 101,238

Short-Term Investments

Short-Term Investments	6 Months Ended
	Jun. 30, 2016
Investments Debt And Equity Securities [Abstract]
Short-Term Investments	NOTE 5 — Short-Term Investments Short-term investments consisted of U.S. Treasury securities. As of December 31, 2015, short-term investments of $39.9 million were held as available-for-sale and recorded on the balance sheet at fair market value. In January 2016, the Company sold the total short-term investments of $39.9 million. Realized and unrealized gains or losses, net of tax, have been immaterial in every period presented.

Concentration of Credit Risk an

Concentration of Credit Risk and Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Concentration of Credit Risk and Fair Value of Financial Instruments	NOTE 6 — Concentration of Credit Risk and Fair Value of Financial Instruments The Company measures and reports its investments in money market funds at fair value on a recurring basis, which approximates their carrying value due to the short period of time to maturity, and reports its short-term investments in U.S. Treasury securities at fair value at each reporting period. There have been no changes in the Company’s valuation techniques during the three and six months ended June 30, 2016. Both the money market funds and U.S. Treasury securities are classified as Level 1. The following table summarizes the Company’s financial assets measured at fair value on a recurring basis: As of December 31, 2015 As of June 30, 2016 Total Fair Value Quoted Assets (Level 1) (1) Significant Other Observable Inputs (Level 2) (2) Significant Other Unobservable Inputs (Level 3) (3) Total Value Quoted Assets (Level 1) (1) Significant Other Observable Inputs (Level 2) (2) Significant Other Unobservable Inputs (Level 3) (3) (In thousands) Assets: Money Market Funds $ 271,153 $ 271,153 $ — $ — $ 50,736 $ 50,736 $ — $ — U.S. Treasury Securities $ 39,936 $ 39,936 $ — $ — $ — $ — $ — $ — (1) Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. (2) Level 2: Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. (3) Level 3: Unobservable inputs reflecting the Company’s own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents primarily in highly-rated taxable money market funds located in the United States, in which deposits may exceed federal deposit insurance limits. The fair value of the Company’s accounts receivable and accounts payable approximates the carrying amount due to their short duration. The Company’s customers are concentrated in the United States. The Company performs ongoing credit evaluations of its customers and does not require collateral. The Company reviews the need for allowances for potential credit losses and such losses have been insignificant to date. Significant customer information is as follows: Three Months Ended June 30, Six Months Ended June 30, Percentage of revenue: 2015 2016 2015 2016 Aon Hewitt Financial Advisors, LLC 10% 8% 10% 8% Empower Retirement TM 10% 6% 10% 6%

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	NOTE 7 — Goodwill and Intangible Assets Goodwill as of December 31, 2015 and June 30, 2016 consisted of the following: (In thousands) Balance as of December 31, 2015 $ — The Mutual Fund Store acquisition 293,624 April 2016 franchise acquisitions 7,319 Balance as of June 30, 2016 $ 300,943 Intangible assets as of December 31, 2015 and June 30, 2016 consisted of the following: December 31, 2015 June 30, 2016 (In thousands) Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 15 - 19 $ — $ — $ — $ 157,142 $ 3,415 $ 153,727 Franchise agreements and reacquired franchise rights <1 - 9 — — — 1,035 343 692 Favorable leases, net 6 — — — 140 10 130 Trademarks/Trade names 20 — — — 39,230 823 38,407 Internal use software 2 - 3 53,398 46,313 7,085 57,353 48,847 8,506 Total $ 53,398 $ 46,313 $ 7,085 $ 254,900 $ 53,438 $ 201,462 Amortization expense related to intangible assets was as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2016 2015 2016 (In thousands) Customer relationships $ — $ 2,087 $ — $ 3,415 Franchise agreements and reacquired franchise rights — 329 — 343 Favorable leases, net — 6 — 10 Trademarks/Trade names — 494 — 823 Internal use software (1) 1,281 1,183 2,457 2,534 Amortization expense $ 1,281 $ 4,099 $ 2,457 $ 7,125 (1) For the three months ended June 30, 2015 and 2016, For the six months ended June 30, 2015 and 2016, million The following table presents the estimated future amortization of intangible assets as of June 30, 2016: (In thousands) Years ending December 31: 2016 $ 7,751 2017 14,158 2018 12,647 2019 10,443 2020 10,407 Thereafter 146,056 $ 201,462

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stockholders' Equity	NOTE 8 — Stockholders’ Equity Stock-based Compensation The following table summarizes the stock-based compensation, as included in the Unaudited Condensed Consolidated Statements of Income, by functional area: Three Months Ended June 30, Six Months Ended June 30, 2015 2016 2015 2016 (In thousands) Stock-based compensation: Cost of revenue $ 1,075 $ 923 $ 2,131 $ 1,772 Research and development 1,297 2,141 2,712 3,668 Sales and marketing 1,941 2,789 3,891 5,203 General and administrative 1,792 2,571 3,818 3,881 Amortization of internal use software, included in amortization of intangible assets 87 99 164 203 Total stock-based compensation $ 6,192 $ 8,523 $ 12,716 $ 14,727 Cash Dividends On July 26, 2016, the Board of Directors declared a quarterly dividend of $0.07 per share to be paid on October 4, 2016 to record-holders as of September 20, 2016. While the Company currently expects to pay comparable cash dividends on a quarterly basis in the future, any future determination with respect to the declaration and payment of dividends will be at the discretion of the Board of Directors. As of June 30, 2016, the Company had a dividend payable balance of $3.7 million, which was paid to stockholders in July 2016. Stock Repurchase Program On November 5, 2014, the Board of Directors approved a stock repurchase program of up to $50.0 million of the Company’s common stock in the open market over a twelve-month period funded by available working capital, of which $47.6 million had been utilized before the stock repurchase program expired on November 4, 2015. The repurchases were recorded as treasury stock and resulted in a reduction of stockholder’s equity. 2009 Stock Incentive Plan In February 2016, the Board of Directors approved an executive severance and change in control policy for the Company’s executive officers, which provides that the executive officers may receive 100% accelerated vesting of outstanding equity awards and extended exercise rights for outstanding stock option awards, subject to severance and change in control conditions and contingent upon the execution by the executive officer of a full release of claims against the Company and any of its affiliates. The change in control provisions apply to the equity awards made to the Company’s executive officers under the 2009 Stock Incentive Plan on May 20, 2016. These new provisions are in addition to existing provisions whereby certain awards under the 2009 Stock Incentive Plan also provide for partial acceleration in the event of involuntary termination within 12 months of a change in control event, death or total and permanent disability.

Net Income Per Common Share

Net Income Per Common Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Net Income Per Common Share	NOTE 9 — Net Income Per Common Share Basic net income per common share is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding during the period less the weighted average number of common shares repurchased by the Company during the period. Diluted net income per common share is computed by giving effect to all dilutive potential common shares, including options, RSUs, and PSUs. Repurchased shares are held as treasury stock and outstanding shares used to calculate earnings per share have been reduced by the weighted number of repurchased shares. On February 1, 2016, the Company issued 9,885,889 shares of its common stock as part of the consideration to acquire The Mutual Fund Store. The following table sets forth the computation of basic and diluted net income per share: Three Months Ended Six Months Ended June 30, June 30, 2015 2016 2015 2016 (In Numerator (basic and diluted): Net income $ 8,500 $ 9,043 $ 16,401 $ 12,372 Denominator (basic): Net weighted average common shares outstanding 51,780 61,716 51,851 59,986 Denominator (diluted): Weighted average common shares outstanding 51,780 61,716 51,851 59,986 Dilutive stock options outstanding 1,034 590 1,020 602 Dilutive unvested restricted stock units 380 451 356 379 Dilutive unvested performance stock units — 13 14 12 Net weighted average common shares outstanding 53,194 62,770 53,241 60,979 Net income per share attributable to holders of common stock: Basic $ 0.16 $ 0.15 $ 0.32 $ 0.21 Diluted $ 0.16 $ 0.14 $ 0.31 $ 0.20 Diluted net income per share does not include the effect of the following anti-dilutive common equivalent shares: Three Months Ended Six Months Ended June 30, June 30, 2015 2016 2015 2016 (In thousands) Stock options outstanding 965 3,905 1,520 3,574 Restricted stock units outstanding — — — 139 Total anti-dilutive common equivalent shares 965 3,905 1,520 3,713

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 10 — Income Taxes The Company recorded an income tax provision of $3.6 million and $5.6 million for the three months ended June 30, 2015 and 2016, respectively. The Company’s effective tax rate was 30% and 38% for the three months ended June 30, 2015 and 2016, respectively. This increase in the effective tax rate was due primarily to the recognition of tax benefits upon resolution of income tax uncertainties and changes in state taxes during the three months ending June 30, 2015, which lowered our effective tax rate during that period The Company recorded an income tax provision of $7.9 million and $9.7 million for the six months ended June 30, 2015 and 2016, respectively. The Company’s effective tax rate was 33% and 44% for the six months ended June 30, 2015 and 2016, respectively. This increase in the effective tax rate was due primarily to non-deductible expenditures incurred in connection with acquiring The Mutual Fund Store during the three months ended March 31, 2016. The lower effective tax rate for the six months ended June 30, 2015 was due primarily to the recognition of tax benefits upon resolution of income tax uncertainties and changes in state taxes The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. All tax years since inception are open due to loss carryforwards and may be subject to examination in one or more jurisdictions. At December 31, 2015, the Company had net operating loss carryforwards for federal purposes of approximately $98.8 million that expire at varying dates through 2035. As of December 31, 2015, the Company continued to believe that sufficient positive evidence exists from historical operations and future projections to conclude that it is more likely than not to fully realize its deferred tax assets in future periods. The Company continuously evaluates facts representing positive and negative evidence in the determination of the realizability of the deferred tax assets. As of December 31, 2015, the Company had gross unrecognized tax benefits for income taxes associated with uncertain tax positions of $6.7 million, and does not expect this to change materially for the remainder of the year. On February 1, 2016, the Company closed its acquisition of The Mutual Fund Store and recorded deferred tax assets of $19.5 million related to the acquisition, primarily for acquired net operating losses available to be utilized in future periods. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes. ASU 2015-17 simplifies the presentation of deferred taxes by requiring that deferred tax assets and liabilities, and any related valuation allowance, to be classified as non-current. The Company early adopted ASU 2015-17 as of December 31, 2015 on a prospective basis.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 11— Commitments and Contingencies Commitments In June 2015, the Company entered into a non-cancelable operating lease amendment for its Phoenix, Arizona facility. The lease amendment includes a tenant improvement allowance of approximately $0.4 million and as of June 30, 2016 the receivable balance associated with this tenant improvement allowance was received in full. The Company classifies tenant improvement allowances in its Unaudited Condensed Consolidated Balance Sheets under deferred rent and in its Unaudited Condensed Consolidated Statements of Cash Flows under operating activities. In February 2016, as a result of the acquisition of The Mutual Fund Store, the Company acquired non-cancelable operating leases, including an existing facility in Overland Park, Kansas, which will expire in September 2016, as well as a new 33,100 square foot facility in Overland Park, Kansas. There were remaining future minimum payments associated with the new lease of approximately $7.5 million as of February 1, 2016 and it expires in March 2027. This lease also includes a tenant improvement allowance of approximately $1.8 million, which is being directly paid by the landlord. As of the acquisition date of February 1, 2016, the total remaining future minimum payments associated with the acquired non-cancelable operating leases were approximately $17.6 million with expiration dates varying through March 2027. Future minimum payments associated with non-cancelable operating leases related to franchise acquisitions to date were immaterial. Contingencies The Company includes service level commitments to its customers warranting certain levels of reliability and performance. The maximum total commitments under these obligations would have less than a $1.0 million impact on the Company’s annual operating results.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	NOTE 12 – In July and August 2016, the Company completed the acquisition of the eight franchises for total aggregate cash consideration of $12.3 million.

Basis of Presentation and Pri18

Basis of Presentation and Principles of Consolidation (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates under different assumptions or conditions.
Segment Information	Segment Information The Company’s chief operating decision-maker, its chief executive officer, reviews the Company’s operating results on an aggregate, consolidated basis and manages its operations as a single operating segment. In addition, all of the Company’s operations and assets are based in the United States. Following The Mutual Fund Store acquisition discussed in Note 3, the Company re-examined its reporting and operating structure, and determined it continues to operate as a single operating and reportable segment.
Business Combinations	Business Combinations The Company accounts for business combinations under the acquisition method. The cost of an acquired company is assigned to the tangible and intangible assets acquired and the liabilities assumed on the basis of their fair values at the date of acquisition. The determination of fair values of assets acquired and liabilities assumed requires management to make estimates and use valuation techniques when market values are not readily available. Any excess of the aggregate purchase price over the fair value of net tangible and identifiable intangible assets acquired is allocated to goodwill. Transaction costs associated with business combinations are expensed as incurred.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill consists of the excess of the aggregate purchase price over the fair value of net tangible and identifiable intangible assets acquired by the Company. The carrying amount of goodwill is tested for impairment each year in the fourth quarter, or more frequently if facts and circumstances warrant a review, by using a two-step process. The Company has concluded that it has a single reporting unit for the purpose of goodwill impairment testing, and accordingly, all goodwill resides within a single reporting unit. The Company compares the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying value, goodwill of the reporting unit is not considered impaired. If the carrying value of the reporting unit exceeds its fair value, the Company would perform a measurement of the amount of impairment by comparing the carrying amount of the goodwill to a determination of the implied fair value of the goodwill. If the carrying amount of the goodwill is greater than the implied value, an impairment loss is recognized for the difference. The Company does not have any indefinite lived intangible assets besides goodwill. Intangible assets with definite useful lives are recorded at cost less accumulated amortization. Intangible assets are reviewed for impairment whenever events or changes in circumstances may affect the recoverability of the net assets. Such reviews include an analysis of current results and take into consideration the undiscounted value of projected operating cash flows. Intangible assets consist primarily of customer relationships, trademarks, trade names and internal use software. These intangible assets are acquired through business combinations or, in the case of capitalized software costs, are internally developed. Intangible assets are amortized on a straight-line basis over their estimated useful lives which range from less than 1 year to 20 years.
Long-Lived Assets	Long-Lived Assets Long-lived assets, such as property, equipment, capitalized internal use software, direct response advertising and intangible assets subject to depreciation and amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or an asset group may not be recoverable. When such events or changes in circumstances occur, the Company assesses recoverability by determining whether the carrying value of such assets or asset group will be recovered through the undiscounted expected future cash flows. If the future undiscounted cash flows of the assets are less than their carrying amount, the Company would recognize an impairment loss based on any excess of the carrying amount of the asset over their fair value. Impairment charges related to long-lived assets were immaterial for the periods presented.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when all of the following conditions are met: · There is persuasive evidence of an arrangement, as evidenced by a signed contract; · Delivery has occurred or the service has been made available to the customer, which occurs upon completion of implementation and connectivity services, if applicable, and acceptance by the customer; · The collectability of the fees is reasonably assured; and · The amount of fees to be paid by the customer is fixed or determinable. The Company generates its revenue through three primary sources: professional management, platform and other revenue. Professional Management. The Company derives professional management revenue from client fees paid by or on behalf of both DC clients and individual investor clients who are enrolled in the Company’s professional management service for the management of their account assets. The professional management service is a discretionary investment advisory service that can include comprehensive financial planning, investment management and retirement income services. The services are generally made available to prospective clients by written agreements with the plan provider, the plan sponsor and the plan participant in a DC plan, and by written agreements with individual investors; and may be provided on a subadvisory basis. The Company’s arrangements with clients generally provide for fees based on the value of assets the Company manages and are generally payable quarterly in arrears. Fees billed to clients are determined by the value of the assets in the client’s account at specified dates with no judgments or estimates on the part of the Company, and are recognized as the services are performed. T he Company uses estimates primarily related to the portion of professional management revenue that has not been invoiced and is not otherwise due from the customer at period end, but has been earned by the Company. The Company estimates the amount of revenue that would be due to it at the end of the period as if the contract were terminated at that date. This calculation, referred to as the hypothetical liquidation method, is determined by multiplying the actual assets under management (AUM) at the end of the period for each client by the basis points of the respective client from the most recent quarterly billing cycle. In certain instances, fees payable by plan participants are deferred for a specified period, and are waived if the plan participant cancels within the specified period. The Company recognizes revenue during certain of these fee deferral periods based on the estimate of the expected fee retention rate determined by historical experience of similar arrangements. Platform. The Company derives platform revenue from recurring, subscription-based fees for access to its services, including professional management, online advice, education and guidance, and to a lesser extent, from setup fees. The arrangements generally provide for fees to be paid by the plan sponsor, plan provider or the DC plan itself, depending on the plan structure. Platform revenue is generally paid annually or quarterly in advance and recognized ratably over the term of the subscription period beginning after the completion of customer setup and data connectivity. Setup fees are recognized ratably over seven years. Other. Other revenue includes franchise royalty fees, fees for non-retirement account servicing, reimbursement for a portion of marketing and client materials from certain subadvisory relationships and reimbursement for providing personal statements to prospective clients from a limited number of plan sponsors. Costs associated with these reimbursed printed fulfillment materials are expensed to cost of revenue as incurred. Franchise royalty fees are recognized as revenue as the services are performed by the franchisees based on specified percentages of the franchisees’ advisory fees billed to their clients. Franchise royalty fees charged by the franchisees to their clients are primarily based on predetermined percentages of the market value of the AUM and are affected by changes in the AUM. The fees for non-retirement account servicing do not impact client fees paid for professional management, and are disclosed in the applicable Form ADV of the Company’s advisory subsidiaries.
Cost of Revenue	Cost of Revenue Cost of revenue includes fees paid to plan providers for connectivity to plan and plan participant data, printed materials fulfillment costs for certain subadvisory relationships for which a portion are reimbursed, printed client materials, and employee-related costs for in-person dedicated advisor centers and call center advisors, operations, implementations, technical operations, portfolio management and client service administration. Costs in this area are related primarily to payments to third parties, employee compensation and related expenses, facilities expenses, purchased materials and depreciation. The expenses included in cost of revenue are shared across the different revenue categories, and the Company is not able to meaningfully allocate such costs between separate categories of revenue. Consequently, all costs and expenses applicable to the Company’s revenue are included in the category cost of revenue in the Unaudited Condensed Consolidated Statements of Income. A portion of the amortization of intangible assets, including internal use software, relates to the Company’s cost of revenue but is reflected together with all amortization of intangible assets as a separate line item in the Company’s Unaudited Condensed Consolidated Statements of Income .
Recent Accounting Pronouncements	Recent Accounting Pronouncements On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This new standard may also impact how the Company accounts for certain direct costs associated with its revenues. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard would become effective for the Company on January 1, 2018 and early adoption would be permitted on January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. On February 25, 2016, FASB issued ASU No. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures. In March 2016, FASB issued ASU No. ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. The ASU simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, the ASU is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Although early adoption is permitted, the Company does not intend to adopt early. The Company is evaluating the effect that ASU 2016-09 will have on its consolidated financial statements and related disclosures.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2016
Schedule of Preliminary Purchase Price Consideration	The preliminary purchase price allocation is subject to certain closing and post-closing adjustments. (In thousands, except shares and share price) Cash consideration $ 246,001 Number of shares 9,885,889 Share price as of closing $ 27.01 Stock consideration 267,018 Total consideration $ 513,019
Summary of Allocation of Acquisition Consideration to Tangible and Intangible Assets and Liabilities	The total acquisition consideration has been preliminarily allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition, including 22 franchised store agreements. The assets acquired consist primarily of customer relationships, accounts receivable, and trade names and trademarks. The intangible assets will be amortized based upon their estimated useful lives on a straight-lined basis. The table below represents a preliminary allocation of the total acquisition consideration to The Mutual Fund Store’s tangible and intangible assets and liabilities as of February 1, 2016 based on the Company’s preliminary estimate of their respective fair values: (In thousands) Assets acquired $ 48,117 Identifiable intangible assets 191,020 Goodwill 293,624 Liabilities assumed (19,742 ) Total consideration $ 513,019
Summary of Intangible Assets Acquired and Estimated Useful Lives	A summary of intangible assets acquired and estimated useful lives is as follows: (In thousands, except life in years) Estimated Fair Value Weighted Average Life in Years Customer relationships $ 151,300 19 Franchise agreements 350 less than 1 year Favorable leases, net 140 6 Trademarks/Trade names 39,230 20 Total $ 191,020
Unaudited Pro forma Financial Information	Three Months Ended June 30, Six Months Ended June 30, 2015 2016 2015 2016 (In thousands, except per share data) Revenue $ 102,920 $ 106,232 $ 201,580 $ 206,373 Net income (1) $ 11,029 $ 10,057 $ 20,057 $ 19,798 Net income per share: Basic $ 0.18 $ 0.16 $ 0.32 $ 0.33 Diluted $ 0.17 $ 0.16 $ 0.32 $ 0.32 1) Disclosure of the specific net income of The Mutual Fund Store subsequent to the acquisition, for the periods presented, is impracticable as the operations of The Mutual Fund Store are integrated with the Company’s operations and not separately tracked.
Acquisition of Franchises April 2016 [Member]
Summary of Allocation of Acquisition Consideration to Tangible and Intangible Assets and Liabilities	The total acquisition consideration has been preliminarily allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition. The assets acquired consist primarily of intangible customer relationships and reacquired franchise rights. The intangible assets will be amortized based upon their estimated useful lives on a straight-lined basis. The table below represents a preliminary allocation of the aggregate acquisition consideration based on the Company’s preliminary estimate of their respective fair values: (In thousands) Assets acquired $ 698 Identifiable intangible assets 6,527 Goodwill 7,319 Liabilities assumed (95 ) Total consideration $ 14,449
Summary of Intangible Assets Acquired and Estimated Useful Lives	A summary of intangible assets acquired and estimated useful lives is as follows: (In thousands, except life in years) Estimated Fair Value Weighted Average Life in Years Customer relationships $ 5,842 15 Reacquired franchise rights 685 9 Total $ 6,527

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	6 Months Ended
	Jun. 30, 2016
Cash And Cash Equivalents [Abstract]
Cash and Cash Equivalents	Cash and cash equivalents consist of the following: December 31, June 30, 2015 2016 (In thousands) Cash $ 34,063 $ 50,502 Money market fund 271,153 50,736 Total cash and cash equivalents $ 305,216 $ 101,238

Concentration of Credit Risk 21

Concentration of Credit Risk and Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured at Fair Value on Recurring Basis	The following table summarizes the Company’s financial assets measured at fair value on a recurring basis: As of December 31, 2015 As of June 30, 2016 Total Fair Value Quoted Assets (Level 1) (1) Significant Other Observable Inputs (Level 2) (2) Significant Other Unobservable Inputs (Level 3) (3) Total Value Quoted Assets (Level 1) (1) Significant Other Observable Inputs (Level 2) (2) Significant Other Unobservable Inputs (Level 3) (3) (In thousands) Assets: Money Market Funds $ 271,153 $ 271,153 $ — $ — $ 50,736 $ 50,736 $ — $ — U.S. Treasury Securities $ 39,936 $ 39,936 $ — $ — $ — $ — $ — $ — (1) Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. (2) Level 2: Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. (3) Level 3: Unobservable inputs reflecting the Company’s own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.
Significant Customer Information	Significant customer information is as follows: Three Months Ended June 30, Six Months Ended June 30, Percentage of revenue: 2015 2016 2015 2016 Aon Hewitt Financial Advisors, LLC 10% 8% 10% 8% Empower Retirement TM 10% 6% 10% 6%

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill as of December 31, 2015 and June 30, 2016 consisted of the following: (In thousands) Balance as of December 31, 2015 $ — The Mutual Fund Store acquisition 293,624 April 2016 franchise acquisitions 7,319 Balance as of June 30, 2016 $ 300,943
Schedule of Intangible Assets	Intangible assets as of December 31, 2015 and June 30, 2016 consisted of the following: December 31, 2015 June 30, 2016 (In thousands) Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 15 - 19 $ — $ — $ — $ 157,142 $ 3,415 $ 153,727 Franchise agreements and reacquired franchise rights <1 - 9 — — — 1,035 343 692 Favorable leases, net 6 — — — 140 10 130 Trademarks/Trade names 20 — — — 39,230 823 38,407 Internal use software 2 - 3 53,398 46,313 7,085 57,353 48,847 8,506 Total $ 53,398 $ 46,313 $ 7,085 $ 254,900 $ 53,438 $ 201,462
Schedule of Amortization Expense Related to Intangible Assets	Amortization expense related to intangible assets was as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2016 2015 2016 (In thousands) Customer relationships $ — $ 2,087 $ — $ 3,415 Franchise agreements and reacquired franchise rights — 329 — 343 Favorable leases, net — 6 — 10 Trademarks/Trade names — 494 — 823 Internal use software (1) 1,281 1,183 2,457 2,534 Amortization expense $ 1,281 $ 4,099 $ 2,457 $ 7,125
Schedule of Estimated Future Amortization of Intangible Assets	The following table presents the estimated future amortization of intangible assets as of June 30, 2016: (In thousands) Years ending December 31: 2016 $ 7,751 2017 14,158 2018 12,647 2019 10,443 2020 10,407 Thereafter 146,056 $ 201,462

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Stock-Based Compensation by Functional Area	The following table summarizes the stock-based compensation, as included in the Unaudited Condensed Consolidated Statements of Income, by functional area: Three Months Ended June 30, Six Months Ended June 30, 2015 2016 2015 2016 (In thousands) Stock-based compensation: Cost of revenue $ 1,075 $ 923 $ 2,131 $ 1,772 Research and development 1,297 2,141 2,712 3,668 Sales and marketing 1,941 2,789 3,891 5,203 General and administrative 1,792 2,571 3,818 3,881 Amortization of internal use software, included in amortization of intangible assets 87 99 164 203 Total stock-based compensation $ 6,192 $ 8,523 $ 12,716 $ 14,727

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income Per Share	The following table sets forth the computation of basic and diluted net income per share: Three Months Ended Six Months Ended June 30, June 30, 2015 2016 2015 2016 (In Numerator (basic and diluted): Net income $ 8,500 $ 9,043 $ 16,401 $ 12,372 Denominator (basic): Net weighted average common shares outstanding 51,780 61,716 51,851 59,986 Denominator (diluted): Weighted average common shares outstanding 51,780 61,716 51,851 59,986 Dilutive stock options outstanding 1,034 590 1,020 602 Dilutive unvested restricted stock units 380 451 356 379 Dilutive unvested performance stock units — 13 14 12 Net weighted average common shares outstanding 53,194 62,770 53,241 60,979 Net income per share attributable to holders of common stock: Basic $ 0.16 $ 0.15 $ 0.32 $ 0.21 Diluted $ 0.16 $ 0.14 $ 0.31 $ 0.20
Anti-dilutive Common Equivalent Shares	Diluted net income per share does not include the effect of the following anti-dilutive common equivalent shares: Three Months Ended Six Months Ended June 30, June 30, 2015 2016 2015 2016 (In thousands) Stock options outstanding 965 3,905 1,520 3,574 Restricted stock units outstanding — — — 139 Total anti-dilutive common equivalent shares 965 3,905 1,520 3,713

Organization and Description 25

Organization and Description of the Business - Additional Information (Detail)	Feb. 01, 2016Location
The Mutual Fund Store [Member]
Organization And Description Of The Business [Line Items]
Number of locations	125

Basis of Presentation and Pri26

Basis of Presentation and Principles of Consolidation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016USD ($)
Significant Accounting Policies [Line Items]
Indefinite lived intangible assets	$ 0
Finite-lived intangible assets, maximum limit of lower range of amortization period	1 year
Average life of sponsor contracts, maximum, years	7 years
Maximum [Member]
Significant Accounting Policies [Line Items]
Finite-lived intangible assets, amortization period	20 years

Business Combinations - Additio

Business Combinations - Additional Information (Detail)	Feb. 01, 2016USD ($)Franchise	Jul. 31, 2016USD ($)	Apr. 30, 2016USD ($)Franchise	Aug. 31, 2016USD ($)Franchise	Jun. 30, 2016USD ($)Franchise	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Franchise	Jun. 30, 2016USD ($)Franchise	Jun. 30, 2015USD ($)
Business Acquisition [Line Items]
Purchase price allocation, goodwill					$ 300,943,000		$ 300,943,000	$ 300,943,000
Revenues					$ 106,233,000	$ 78,239,000		$ 198,291,000	$ 153,185,000
Number of franchises owned | Franchise					15		15	15
Subsequent Event [Member]
Business Acquisition [Line Items]
Number of franchises acquisition | Franchise				8
Aggregate cash consideration of acquisition franchises				$ 12,300,000
Write off of notes receivable		$ 200,000
The Mutual Fund Store [Member]
Business Acquisition [Line Items]
Business acquisition, agreement date								Nov. 5, 2015
Number of franchised store agreements | Franchise	22
Purchase price allocation, goodwill	$ 293,624,000
Goodwill expected to be deductible for tax purposes	163,800,000
Revenues							$ 44,500,000
Aggregate cash consideration of acquisition franchises	246,001,000
The Mutual Fund Store [Member] | Executive [Member]
Business Acquisition [Line Items]
Existing compensation arrangement	5,800,000
The Mutual Fund Store [Member] | Executive [Member] | Cliff vesting on January 1, 2016 [Member]
Business Acquisition [Line Items]
Existing compensation arrangement	$ 2,900,000
Percentage of eligibility of stock vesting	50.00%
The Mutual Fund Store [Member] | Executive [Member] | Cliff vesting on January 1, 2018 [Member]
Business Acquisition [Line Items]
Existing compensation arrangement	$ 2,900,000
Percentage of eligibility of stock vesting	50.00%
The Mutual Fund Store [Member] | General and Administrative [Member]
Business Acquisition [Line Items]
Acquisition-related costs					$ 0			$ 6,200,000
The Mutual Fund Store [Member] | Maximum [Member]
Business Acquisition [Line Items]
Escrow funds release maximum period	14 months
The Mutual Fund Store [Member] | Warburg Pincus LLC [Member]
Business Acquisition [Line Items]
Post acquisition ownership percentage	13.00%
Acquisition of Franchises April 2016 [Member]
Business Acquisition [Line Items]
Purchase price allocation, goodwill			$ 7,319,000
Business acquisition, agreement date								2016-04
Number of franchises acquisition | Franchise			7
Aggregate cash consideration of acquisition franchises			$ 14,400,000
Holdback amounts reserved with respect to indemnification claims			800,000
Re-purchase of Franchises [Member]
Business Acquisition [Line Items]
Goodwill expected to be deductible for tax purposes			$ 7,300,000
Re-purchase of Franchises [Member] | General and Administrative [Member]
Business Acquisition [Line Items]
Acquisition-related costs					$ 100,000			$ 100,000

Schedule of Preliminary Purchas

Schedule of Preliminary Purchase Price Consideration (Detail) - USD ($) $ / shares in Units, $ in Thousands	Feb. 01, 2016	Jun. 30, 2016
Business Acquisition Contingent Consideration [Line Items]
Stock consideration		$ 267,018
The Mutual Fund Store [Member]
Business Acquisition Contingent Consideration [Line Items]
Cash consideration	$ 246,001
Number of shares	9,885,889
Share price as of closing	$ 27.01
Stock consideration	$ 267,018
Total consideration	$ 513,019

Summary of Allocation of Acquis

Summary of Allocation of Acquisition Consideration to Tangible and Intangible Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Apr. 30, 2016	Feb. 01, 2016
Business Acquisition [Line Items]
Goodwill	$ 300,943
The Mutual Fund Store [Member]
Business Acquisition [Line Items]
Assets acquired			$ 48,117
Identifiable intangible assets			191,020
Goodwill			293,624
Liabilities assumed			(19,742)
Total consideration			$ 513,019
Acquisition of Franchises April 2016 [Member]
Business Acquisition [Line Items]
Assets acquired		$ 698
Identifiable intangible assets		6,527
Goodwill		7,319
Liabilities assumed		(95)
Total consideration		$ 14,449

Summary of Intangible Assets Ac

Summary of Intangible Assets Acquired and Useful Lives (Detail) - USD ($) $ in Thousands	Feb. 01, 2016	Apr. 30, 2016
The Mutual Fund Store [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 191,020
The Mutual Fund Store [Member] | Customer Relationships [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 151,300
Weighted Average Life in Years	19 years
The Mutual Fund Store [Member] | Franchise Agreements [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 350
The Mutual Fund Store [Member] | Favorable Leases, Net [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 140
Weighted Average Life in Years	6 years
The Mutual Fund Store [Member] | Trademarks/Trade Names [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 39,230
Weighted Average Life in Years	20 years
The Mutual Fund Store [Member] | Maximum [Member] | Franchise Agreements [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Weighted Average Life in Years	1 year
Acquisition of Franchises April 2016 [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value		$ 6,527
Acquisition of Franchises April 2016 [Member] | Customer Relationships [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value		$ 5,842
Weighted Average Life in Years		15 years
Acquisition of Franchises April 2016 [Member] | Franchise Agreements [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value		$ 685
Weighted Average Life in Years		9 years

Unaudited Pro forma Financial I

Unaudited Pro forma Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Business Combinations [Abstract]
Revenue		$ 106,232	$ 102,920	$ 206,373	$ 201,580
Net income	[1]	$ 10,057	$ 11,029	$ 19,798	$ 20,057
Net income per share:
Basic		$ 0.16	$ 0.18	$ 0.33	$ 0.32
Diluted		$ 0.16	$ 0.17	$ 0.32	$ 0.32
[1]	Disclosure of the specific net income of The Mutual Fund Store subsequent to the acquisition, for the periods presented, is impracticable as the operations of The Mutual Fund Store are integrated with the Company’s operations and not separately tracked.

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Cash And Cash Equivalents [Abstract]
Cash	$ 50,502	$ 34,063
Money market fund	50,736	271,153
Total cash and cash equivalents	$ 101,238	$ 305,216	$ 107,415	$ 126,564

Short-Term Investments - Additi

Short-Term Investments - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jan. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Short Term Investments [Abstract]
Short-term investments			$ 39,936
Proceeds from Sale of Short-term Investments	$ 39,923	$ 39,923

Financial Assets Measured at Fa

Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair value of financial assets measured on recurring basis		$ 50,736	$ 271,153
U.S. Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair value of financial assets measured on recurring basis			39,936
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair value of financial assets measured on recurring basis	[1]	$ 50,736	271,153
Fair Value, Inputs, Level 1 [Member] | U.S. Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair value of financial assets measured on recurring basis	[1]		$ 39,936
[1]	Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Significant Customer Informatio

Significant Customer Information (Detail) - Revenue [Member] - Credit Concentration Risk [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Aon Hewitt Financial Advisors LLC [Member]
Concentration Risk [Line Items]
Percentage of significant customer	8.00%	10.00%	8.00%	10.00%
Empower Retirement TM [Member]
Concentration Risk [Line Items]
Percentage of significant customer	6.00%	10.00%	6.00%	10.00%

Schedule of Goodwill (Detail)

Schedule of Goodwill (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Goodwill [Line Items]
Balance as of June 30, 2016	$ 300,943
The Mutual Fund Store [Member]
Goodwill [Line Items]
Goodwill acquisitions	293,624
April 2016 Franchise [Member]
Goodwill [Line Items]
Goodwill acquisitions	$ 7,319

Schedule of Intangible Assets (

Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, maximum limit of lower range of amortization period	1 year
Gross Carrying Amount	$ 254,900	$ 53,398
Accumulated Amortization	53,438	46,313
Net Carrying Amount	$ 201,462	7,085
Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	20 years
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 157,142
Accumulated Amortization	3,415
Net Carrying Amount	$ 153,727
Customer Relationships [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	15 years
Customer Relationships [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	19 years
Franchise Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, maximum limit of lower range of amortization period	1 year
Gross Carrying Amount	$ 1,035
Accumulated Amortization	343
Net Carrying Amount	$ 692
Franchise Agreements [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	9 years
Favorable Leases, Net [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	6 years
Gross Carrying Amount	$ 140
Accumulated Amortization	10
Net Carrying Amount	$ 130
Trademarks/Trade Names [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	20 years
Gross Carrying Amount	$ 39,230
Accumulated Amortization	823
Net Carrying Amount	38,407
Internal Use Software [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	57,353	53,398
Accumulated Amortization	48,847	46,313
Net Carrying Amount	$ 8,506	$ 7,085
Internal Use Software [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	2 years
Internal Use Software [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	3 years

Schedule of Amortization Expens

Schedule of Amortization Expense Related to Intangible Assets (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software		$ 4,099	$ 1,281	$ 7,125	$ 2,457
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software		2,087		3,415
Franchise Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software		329		343
Favorable Leases, Net [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software		6		10
Trademarks/Trade Names [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software		494		823
Internal Use Software [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software	[1]	$ 1,183	$ 1,281	$ 2,534	$ 2,457
[1]	For the three months ended June 30, 2015 and 2016, internal use software amortization included approximately $0.1 million and $0.1 million of stock-based compensation expense, respectively. For the six months ended June 30, 2015 and 2016, internal use software amortization included approximately $0.2 million and $0.2 million of stock-based compensation expense, respectively.

Schedule of Amortization Expe39

Schedule of Amortization Expense Related to Intangible Assets Parenthetical (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Finite Lived Intangible Assets [Line Items]
Total stock-based compensation	$ 8,523	$ 6,192	$ 14,727	$ 12,716
Amortization Of Internal Use Software Included In Amortization Of Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Total stock-based compensation	$ 99	$ 87	$ 203	$ 164

Schedule of Estimated Future Am

Schedule of Estimated Future Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
2,016	$ 7,751
2,017	14,158
2,018	12,647
2,019	10,443
2,020	10,407
Thereafter	146,056
Net Carrying Amount	$ 201,462	$ 7,085

Schedule of Stock-Based Compens

Schedule of Stock-Based Compensation by Functional Area (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 8,523	$ 6,192	$ 14,727	$ 12,716
Cost of Revenue [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	923	1,075	1,772	2,131
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	2,141	1,297	3,668	2,712
Sales and Marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	2,789	1,941	5,203	3,891
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	2,571	1,792	3,881	3,818
Amortization Of Internal Use Software Included In Amortization Of Intangible Assets [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 99	$ 87	$ 203	$ 164

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Jul. 26, 2016	Feb. 29, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Nov. 04, 2015	Nov. 05, 2014
Stockholders Equity [Line Items]
Dividends declared per share of common stock			$ 0.07	$ 0.07	$ 0.14	$ 0.14
Dividend payable			$ 3,697,000	$ 3,613,000	$ 3,697,000	$ 3,613,000	$ 3,615,000
Dividends paid date			2016-07		2016-07
Stock repurchase program, period in force					12 months
Share repurchase program, utilized amount			$ 47,637,000		$ 47,637,000		$ 47,637,000	$ 47,637,000
Stock repurchase program, expiration date					Nov. 4, 2015
Stock Incentive Plan 2009 [Member]
Stockholders Equity [Line Items]
Grants provide for partial acceleration in event of involuntary termination, period					12 months
Stock Incentive Plan 2009 [Member] | Cliff vesting on January 1, 2016 [Member]
Stockholders Equity [Line Items]
Percentage of eligibility of stock vesting		100.00%
Common Stock [Member] | Maximum [Member]
Stockholders Equity [Line Items]
Stock repurchase program, authorized amount									$ 50,000,000
Subsequent Event [Member]
Stockholders Equity [Line Items]
Dividends to be paid date	Oct. 4, 2016
Dividend payable record date	Sep. 20, 2016
Subsequent Event [Member] | Quarterly Cash Dividend [Member]
Stockholders Equity [Line Items]
Dividends declared per share of common stock	$ 0.07

Net Income Per Common Share - A

Net Income Per Common Share - Additional Information (Detail)	Feb. 01, 2016shares
The Mutual Fund Store [Member]
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Common Stock Shares Issued	9,885,889

Computation of Basic and Dilute

Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator (basic and diluted):
Net income	$ 9,043	$ 8,500	$ 12,372	$ 16,401
Denominator (basic):
Net weighted average common shares outstanding	61,716	51,780	59,986	51,851
Denominator (diluted):
Net weighted average common shares outstanding	61,716	51,780	59,986	51,851
Net weighted average common shares outstanding (diluted)	62,770	53,194	60,979	53,241
Net income per share attributable to holders of common stock:
Basic	$ 0.15	$ 0.16	$ 0.21	$ 0.32
Diluted	$ 0.14	$ 0.16	$ 0.20	$ 0.31
Stock Options Outstanding [Member]
Denominator (diluted):
Incremental common shares included in the diluted EPS calculation	590	1,034	602	1,020
Restricted Stock Units (RSUs) [Member]
Denominator (diluted):
Incremental common shares included in the diluted EPS calculation	451	380	379	356
Performance Stock Units [Member]
Denominator (diluted):
Incremental common shares included in the diluted EPS calculation	13		12	14

Anti-dilutive Common Equivalent

Anti-dilutive Common Equivalent Shares (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common equivalent shares	3,905	965	3,713	1,520
Stock Options Outstanding [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common equivalent shares	3,905	965	3,574	1,520
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common equivalent shares			139

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Feb. 01, 2016	Dec. 31, 2015
Income Taxes [Line Items]
Income tax provision	$ 5,642	$ 3,604	$ 9,655	$ 7,926
Effective tax rate	38.00%	30.00%	44.00%	33.00%
Gross unrecognized tax benefits						$ 6,700
The Mutual Fund Store [Member]
Income Taxes [Line Items]
Deferred tax assets related to the acquisition					$ 19,500
Internal Revenue Service (IRS) [Member]
Income Taxes [Line Items]
Net operating loss carryforwards						$ 98,800
Net operating loss carryforwards expire through			2,035

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)ft²	Feb. 01, 2016USD ($)
Commitments and Contingencies [Line Items]
Service level commitments impact on operating description	The maximum total commitments under these obligations would have less than a $1.0 million impact on the Company’s annual operating results.
Maximum [Member]
Commitments and Contingencies [Line Items]
Service level commitments impact on operating	$ 1
The Mutual Fund Store [Member]
Commitments and Contingencies [Line Items]
New headquarters future minimum lease payments	17.6
Phoenix Arizona [Member]
Commitments and Contingencies [Line Items]
Tenant improvement allowance	$ 0.4
Overland Park, Kansas [Member]
Commitments and Contingencies [Line Items]
Tenant improvement allowance		$ 1.8
Lease expiration month and year	2027-03
Overland Park, Kansas [Member] | The Mutual Fund Store [Member]
Commitments and Contingencies [Line Items]
Lease expiration month and year	2016-09
New square foot headquarters office space | ft²	33,100
New headquarters future minimum lease payments		$ 7.5

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] $ in Millions	2 Months Ended
	Aug. 31, 2016USD ($)Franchise
Subsequent Event [Line Items]
Number of franchises acquisition | Franchise	8
Aggregate cash consideration of acquisition franchises | $	$ 12.3