Financial Engines 10-K 27 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Jan. 31, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	FNGN
Entity Registrant Name	FINANCIAL ENGINES, INC.
Entity Central Index Key	1,430,592
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		62,222,714
Entity Public Float			$ 677,741,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 134,246	$ 305,216
Short-term investments			39,936
Accounts receivable, net of allowances of $225 and $206 as of December 31, 2015 and 2016, respectively		103,256	71,287
Prepaid expenses		7,370	4,486
Other current assets		3,468	3,061
Total current assets		248,340	423,986
Property and equipment, net		24,532	20,385
Intangible assets, net		205,751	7,085
Goodwill	[1]	312,020
Long-term deferred tax assets		40,504	21,780
Direct response advertising, net		5,849	7,186
Other assets		3,140	2,158
Total assets		840,136	482,580
Current liabilities:
Accounts payable		36,780	26,933
Accrued compensation		27,667	17,101
Deferred revenue		4,701	6,400
Dividend payable		4,350	3,615
Other current liabilities		4,343	1,169
Total current liabilities		77,841	55,218
Long-term deferred rent		12,269	9,485
Long-term tax liabilities		2,207	2,206
Other liabilities		488	524
Total liabilities		92,805	67,433
Contingencies (see note 9)
Stockholders’ equity:
Preferred stock, $0.0001 par value — 10,000 authorized as of December 31, 2015 and 2016; None issued or outstanding as of December 31, 2015 and 2016
Common stock, $0.0001 par value — 500,000 authorized as of December 31, 2015 and 2016; 52,972 and 63,476 shares issued and 51,695 and 62,199 shares outstanding at December 31, 2015 and 2016, respectively		6	5
Additional paid-in capital		782,079	461,139
Treasury stock, at cost (1,277 shares as of December 31, 2015 and 2016)		(47,637)	(47,637)
Retained Earnings		12,883	1,640
Total stockholders’ equity		747,331	415,147
Total liabilities and stockholders’ equity		$ 840,136	$ 482,580
[1]	There is no accumulated impairment of goodwill for the periods presented. Adjustments to goodwill were immaterial for the year ended December 31, 2016.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Accounts receivable, allowances	$ 206	$ 225
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	63,475,821	52,972,000
Common stock, shares outstanding	62,198,821	51,695,000
Treasury stock, shares	1,277,000	1,277,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue:
Professional management	$ 385,944	$ 277,162	$ 245,812
Platform	28,366	30,766	33,071
Other	9,627	2,794	3,037
Total revenue	423,937	310,722	281,920
Costs and expenses:
Cost of revenue	186,009	131,011	112,817
Research and development	37,983	35,581	29,830
Sales and marketing	84,068	61,262	50,091
General and administrative	46,497	28,813	22,453
Amortization of intangible assets, including internal use software	15,408	4,900	5,974
Loss on reacquired franchisee rights	4,092
Total costs and expenses	374,057	261,567	221,165
Income from operations	49,880	49,155	60,755
Interest income, net	176	356	169
Other (expense) income	(784)	(30)	3
Income before income taxes	49,272	49,481	60,927
Income tax expense	20,712	17,864	23,975
Net and comprehensive income	$ 28,560	$ 31,617	$ 36,952
Dividends declared per share of common stock	$ 0.28	$ 0.28	$ 0.24
Net income per share attributable to holders of common stock
Basic	0.47	0.61	0.72
Diluted	$ 0.46	$ 0.60	$ 0.69
Shares used to compute net income per share attributable to holders of common stock
Basic	60,962	51,732	51,601
Diluted	62,103	53,039	53,309

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common stock [Member]	Additional paid-in capital [Member]	Treasury Stock [Member]	Retained Earnings (Accumulated deficit) [Member]
Beginning Balance at Dec. 31, 2013	$ 321,886	$ 5	$ 361,955		$ (40,074)
Beginning Balance (in shares) at Dec. 31, 2013		50,890,490
Issuance of common stock upon exercise of options, net	$ 12,761		12,761
Issuance of common stock upon exercise of options, net (in shares)	1,217,046	1,217,046
Vested restricted stock units converted to shares		176,470
Net share settlements for stock-based minimum tax withholdings	$ (2,000)		(2,000)
Net share settlements for stock-based minimum tax withholdings, shares		(60,461)
Repurchases of common stock	(9,182)			$ (9,182)
Repurchases of common stock, shares				(280,000)
Stock-based compensation under the fair value method	19,743		19,743
Cash dividends declared per share (2014 - $0.24 ,2015 - $0.28 ,2016 -0.28)	(12,398)				(12,398)
Excess tax benefit associated with stock-based compensation	12,449		12,449
Net and comprehensive income	36,952				36,952
Ending Balance at Dec. 31, 2014	380,211	$ 5	404,908	$ (9,182)	(15,520)
Ending Balance (in shares) at Dec. 31, 2014		52,223,545		(280,000)
Issuance of common stock upon exercise of options, net	$ 9,201		9,201
Issuance of common stock upon exercise of options, net (in shares)	546,511	546,511
Vested restricted stock units converted to shares		302,617
Net share settlements for stock-based minimum tax withholdings	$ (3,514)		(3,514)
Net share settlements for stock-based minimum tax withholdings, shares		(100,337)
Repurchases of common stock	(38,455)			$ (38,455)
Repurchases of common stock, shares				(997,000)
Stock-based compensation under the fair value method	26,213		26,213
Cash dividends declared per share (2014 - $0.24 ,2015 - $0.28 ,2016 -0.28)	(14,457)				(14,457)
Excess tax benefit associated with stock-based compensation	24,331		24,331
Net and comprehensive income	31,617				31,617
Ending Balance at Dec. 31, 2015	415,147	$ 5	461,139	$ (47,637)	1,640
Ending Balance (in shares) at Dec. 31, 2015		52,972,336		(1,277,000)
Issuance of common stock upon exercise of options, net	$ 6,625		6,625
Issuance of common stock upon exercise of options, net (in shares)	404,208	404,208
Issuance of common stock related to business combination	$ 267,018	$ 1	267,017
Issuance of common stock related to business combination, shares		9,885,889
Vested restricted stock units converted to shares		317,497
Net share settlements for stock-based minimum tax withholdings	(3,336)		(3,336)
Net share settlements for stock-based minimum tax withholdings, shares		(104,109)
Stock-based compensation under the fair value method	33,988		33,988
Cash dividends declared per share (2014 - $0.24 ,2015 - $0.28 ,2016 -0.28)	(17,317)				(17,317)
Excess tax benefit associated with stock-based compensation	16,646		16,646
Net and comprehensive income	28,560				28,560
Ending Balance at Dec. 31, 2016	$ 747,331	$ 6	$ 782,079	$ (47,637)	$ 12,883
Ending Balance (in shares) at Dec. 31, 2016		63,475,821		(1,277,000)

Consolidated Statements of Sto6

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement Of Stockholders Equity [Abstract]
Cash dividends per share	$ 0.28	$ 0.28	$ 0.24

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 28,560	$ 31,617	$ 36,952
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,946	6,092	4,930
Amortization of intangible assets	14,964	4,566	5,614
Stock-based compensation	33,689	26,028	19,765
Amortization of deferred sales commissions	1,560	1,717	1,525
Amortization and impairment of direct response advertising	4,702	5,359	6,010
Amortization of discount on short-term investments	(5)	(359)	(69)
Provision for doubtful accounts	746	938	617
Write off of notes receivable	290
Deferred tax assets	(1,116)	(9,196)	10,869
Loss (gain) on fixed asset disposal	281	14	(17)
Loss (gain) on sale of short-term investments	18	(9)
Excess tax benefit associated with stock-based compensation	(18,435)	(25,058)	(12,659)
Changes in operating assets and liabilities:
Accounts receivable	(15,250)	(6,225)	(2,813)
Prepaid expenses	(1,369)	(723)	(492)
Direct response advertising	(3,388)	(4,338)	(4,450)
Other assets	(1,455)	1,773	(3,533)
Accounts payable	18,827	30,856	13,653
Accrued compensation	4,369	6,998	(4,034)
Deferred revenue	(1,768)	391	(2,315)
Deferred rent	1,130	814	2,202
Other liabilities	(526)
Net cash provided by operating activities	74,770	71,255	71,755
Cash flows from investing activities:
Purchase of property and equipment	(7,037)	(6,094)	(10,157)
Sale of property and equipment			17
Capitalization of internal use software	(6,904)	(5,049)	(3,571)
Purchases of short-term investments		(159,555)	(179,789)
Maturities of short-term investments		180,000	120,000
Sale of short-term investments	39,923	119,872
Cash paid for acquisitions, net of cash acquired	(274,569)
Net cash (used in) provided by investing activities	(248,587)	129,174	(73,500)
Cash flows from financing activities:
Payments on capital lease obligations	(106)	(112)	(105)
Payments related to business combinations	(2,189)
Excess tax benefit associated with stock-based compensation	18,435	25,058	12,659
Net share settlements for stock-based awards minimum tax withholdings	(3,336)	(3,514)	(2,002)
Repurchase of common stock		(38,455)	(9,182)
Proceeds from issuance of common stock	6,625	9,201	12,761
Cash dividend payments	(16,582)	(13,955)	(11,825)
Net cash provided by (used in) financing activities	2,847	(21,777)	2,306
Net increase (decrease) in cash and cash equivalents	(170,970)	178,652	561
Cash and cash equivalents, beginning of year	305,216	126,564	126,003
Cash and cash equivalents, end of year	134,246	305,216	126,564
Supplemental cash flows information:
Income taxes paid, net of refunds	3,336	1,584	91
Interest paid	13	13	12
Non-cash operating, investing and financing activities:
Issuance of common stock related to acquisition	267,018
Unpaid purchases of property and equipment	173	574	1,118
Purchase of property and equipment with non-cash tenant improvement allowance	1,952
Purchase of property and equipment under capital lease		216	169
Capitalized stock-based compensation for internal use software	766	515	294
Capitalized stock-based compensation for direct response advertising	79	97	119
Dividends declared but not yet paid	$ 4,350	$ 3,615	$ 3,113

Organization and Description of

Organization and Description of the Business	12 Months Ended
	Dec. 31, 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. The Company is a leading provider of independent, technology-enabled comprehensive financial advisory services, discretionary portfolio management, personalized investment advice, financial and retirement income planning, financial education and guidance. 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 130 The Company’s business model is based primarily on providing advisory services to DC plan participants in the workplace. The Company also provides advisory services directly to individual clients outside of the workplace. Clients are defined as individuals who utilize our services, including Professional Management, Personal Advisor, Online Advice, education or guidance. The Company works with three key constituencies: individual investors, plan sponsors (employers offering DC plans to their employees) and plan providers (companies providing administrative services to plan sponsors). 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, the Company completed the acquisition of Kansas City 727 Acquisition LLC, a Delaware

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	NOTE 2 — Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. 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. 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 and cash equivalents are comprised of cash held primarily in money market accounts. Short-term Investments Short-term investments consist of U.S. Treasury securities. The Company had previously classified its short-term investments as held-to-maturity through October 2015. In November and December 2015, the Company sold a total of $120 million of short-term investments prior to maturity to address cash needs related to the acquisition of The Mutual Fund Store after signing the definitive acquisition agreement on November 5, 2015. The remaining short-term investments of $39.9 million as of December 31, 2015 were classified as available-for-sale and recorded on the balance sheet at fair market value. In January 2016, the Company sold the remaining $39.9 million of short term investments. Realized and unrealized gains or losses, net of tax, have been immaterial in every period presented. 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 reported its short-term investments in U.S. Treasury securities at fair market value as of December 31, 2015 and 2016. There have been no changes in the Company’s valuation techniques during the years ended December 31, 2015 and 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 December 31, 2016 Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) (1) Significant Other Observable Inputs (Level 2) (2) Significant Other Unobservable Inputs (Level 3) (3) Total Fair Value Quoted Prices in Active Markets for Identical 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 $ - $ - $ 50,077 $ 50,077 $ - $ - 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 which are issued or guaranteed by the United States government or their agencies. These deposits may exceed federal deposit insurance limits. The fair value of the Company’s money market funds is based on a trade date basis on the last business day of the accounting period. 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. The Company did not have any customers that comprised 10% or more of the accounts receivable balance as of December 31, 2015 or 2016. Year Ended December 31, 2014 2015 Percentage of revenue: (1) Empower Retirement TM 11 % 9 % Aon Hewitt Financial Advisors, LLC 9 % 10 % (1) The Company did not have any customers that comprised 10% or more of total revenue for the year ended December 31, 2016. Allowance for Doubtful Accounts Trade accounts receivable are recorded at the invoiced amount and are not interest bearing. The Company maintains an allowance for doubtful accounts to reserve for potentially uncollectible trade receivables. The Company reviews its trade receivables by aging category to identify significant customers with collection issues. For accounts not specifically identified, the Company provides reserves based on historical bad debt loss experience. The allowance for doubtful accounts were immaterial for the years ended December 31, 2014, 2015 and 2016. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets and allocated to the department of benefit in the accompanying Consolidated Statements of Income. Leasehold improvements and capital lease equipment are amortized over the shorter of the remaining lease term or the useful life of the asset. Software purchased for internal use is amortized over its useful life. Expenditures for maintenance and repairs are charged to expense as incurred. Estimated Useful Lives in Years Computer equipment 3 Computer software 2 Furniture, fixtures, and equipment 5 Leasehold improvements life of the lease Capital lease equipment life of the lease 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. There were no indicators of impairment to the carrying amount of goodwill during the year ended December 31, 2016. 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 raise doubt about 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. There were no impairments or changes in useful lives of acquired intangible assets during the year ended December 31, 2016. Intangible assets consist primarily of customer relationships, trademarks, trade names, internal use software and reacquired franchisee rights. 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, direct response advertising and intangible assets, including capitalized internal use software, 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 or asset group are less than their carrying amount, the Company would recognize an impairment loss based on any excess of the carrying amount of the asset or asset group over their fair value. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. During the years ended December 31, 2015 and 2016, impairments to long-lived assets were immaterial. Comprehensive Income 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. 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 4, the Company re-examined its reporting and operating structure, and determined it continues to operate as a single operating and reportable segment. 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 and individual investor clients who are enrolled one of its discretionary portfolio management services (either the Professional Management service or the Personal Advisor service) for the management of their account assets. The Company continues to use the term professional management revenue to include revenue from both the Professional Management and Personal Advisor services. The Company’s Professional Management service is a discretionary personalized portfolio management service for DC participants who want to work with or delegate the management of their retirement accounts to a professional with the help of an advisor team. Personal Advisor is a personalized service that can provide discretionary portfolio management on a client’s 401(k), IRA and/or taxable assets, as well as comprehensive financial planning and a dedicated advisor representative that participants can meet with in person, online or by phone. The Company’s retirement income solutions, including Income+ and Retirement Paycheck, which are features of its Professional Management and Personal Advisor services, respectively, provide clients approaching or in retirement with discretionary portfolio management with an income objective and steady monthly payments from their accounts during retirement, including Social Security claiming guidance and planning. 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 may be provided on a subadvisory basis) and by written agreements with individual investors. The Company’s arrangements with clients using discretionary portfolio management services generally provide for fees based on the value of assets we manage and are generally payable quarterly in arrears. The majority of client fees across both services, as well as across both advisory and subadvisory relationships for DC accounts, are calculated on a monthly basis, as the product of client fee rates and the value of assets under management (AUM) at or near the end of each month. For IRA and taxable accounts, its client fees are calculated on a quarterly basis at the end of each quarter. Platform. The Company derives platform revenue from recurring, subscription-based fees for access to its services, including Online Advice, education and guidance, and to a lesser extent, from setup fees and its Professional Management service. Online Advice is a non-discretionary, Internet-based investment advisory service, which includes personalized online savings and investment advice and retirement income projections for clients who want to manage their retirement themselves. 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 fees for non-retirement account servicing, franchise royalty fees, 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. The fees for non-retirement account servicing do not impact client fees paid for discretionary portfolio management services, and are disclosed in the applicable Form ADV of the Company’s advisory subsidiaries. Franchise royalty fees were applicable for the period of February 1, 2016 to September 30, 2016 and recognized as revenue as the services are performed by the franchisees. The franchise royalty fees were based on specified percentages of the franchisees’ advisory fees billed to their clients, which were primarily based on predetermined percentages of the market value of the AUM and are affected by changes in the AUM. Costs associated with reimbursed printed fulfillment materials are expensed to cost of revenue as incurred. Deferred Revenue Deferred revenue consists primarily of billings or payments received in advance of revenue recognition generated by the Company’s platform service and setup fees. For these services, the Company generally invoices its customers in annual or quarterly installments payable in advance. Accordingly, the deferred revenue balance does not represent the total contract value of annual or multi-year, non-cancelable subscription contracts. 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 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 Consolidated Statements of Income. Direct Response Advertising The Company’s advertising costs include printed materials associated with new customer solicitations. These costs relate primarily to either active enrollment campaigns, where marketing materials are sent to solicit enrollment in the Company’s Professional Management service, or passive enrollment campaigns, where the plan sponsor defaults all eligible clients into the Professional Management service unless they decline. Advertising costs relating to passive enrollment campaigns and other general marketing materials sent to participants do not qualify as direct response advertising and are expensed to sales and marketing in the period the advertising activities first take place. Printed fulfillment costs relating to subadvisory campaigns do not qualify as direct response advertising and are expensed to cost of revenue in the period in which the expenses were incurred. As campaign materials are modified over time, the Company evaluates the content to ensure it has properly identified those campaigns which qualify for capitalization per the accounting definition of direct-response advertising and expense those campaigns that do not qualify as incurred. Advertising costs associated with direct advisory active enrollment campaigns qualify for capitalization as direct response advertising. The capitalized costs are amortized over the estimated three-year period of probable future benefits following the enrollment of a client into the Professional Management service based on the ratio of current period revenue for the direct response advertising cost pool as compared to the total estimated revenue expected for the direct response advertising cost pool over the remaining period of probable future benefits. The realizability of the amounts of direct response advertising reported as assets are evaluated at each balance sheet date by comparing the carrying amounts of such assets on a cost-pool-by-cost-pool basis to the probable remaining future net revenues expected to result directly from such advertising. The Company capitalizes direct response advertising costs associated with direct advisory active enrollment campaigns as the Company has sufficient and verifiable historical patterns to demonstrate the probable future benefits of such campaigns. During the years ended December 31, 2014, 2015 and 2016, the Company capitalized $4.6 million, $4.4 million and $3.5 million, respectively, of direct response advertising costs. Advertising expense was $6.9 million, $8.2 million and $19.9 million for the years ended December 31, 2014, 2015 and 2016, respectively, of which direct response advertising amortization was $6.1 million, $5.5 million and $4.8 million, respectively. During the years ended December 31, 2014, 2015 and 2016, impairments to direct response advertising were immaterial. Advertising expense other than direct response advertising amortization, such as radio and digital advertising, was expensed as incurred. Deferred Income Taxes Deferred tax assets and liabilities are determined based on temporary differences between financial reporting and the tax bases of assets and liabilities. Deferred tax assets are also recognized for tax net operating loss carryforwards. These deferred tax assets and liabilities are measured using the enacted tax rates and laws that are expected to be in effect when such amounts are expected to reverse or be utilized. The realization of total deferred tax assets is contingent upon the generation of future taxable income. Valuation allowances are provided to reduce such deferred tax assets to amounts more likely than not to be ultimately realized. See Note 7 for additional information. Stock-based Compensation Employee stock-based compensation expense is based on the following: (1) the grant date fair value of stock option awards granted or modified after January 1, 2006, and (2) the fair value of the Company’s common stock as of the grant date for restricted stock units (RSUs) and performance stock units (PSUs). The Company estimates the fair value of stock options granted using the Black-Scholes option pricing model. The Company currently uses the simplified method in developing an estimate of expected term of stock options. The expected term represents the period that stock-based awards are expected to be outstanding, giving consideration to the contractual terms of the stock-based awards, vesting schedules and expectations of future employee behavior as influenced by changes to the terms of the Company’s stock-based awards. Prior to 2016, the computation of expected volatility was based on a combination of the historical and implied volatility of comparable companies from a representative peer group based on industry and market capitalization data, as well as the Company’s own historical volatility. Beginning in 2016, the Company began to base expected volatility on its own historical volatility, as it had sufficient exercise history to do so. The Company includes a dividend yield in its Black-Scholes option pricing model to reflect the anticipated dividends to be paid over the expected term of the awards. The Company expenses RSUs over the performance period based on the fair market value of the awards at the date of grant. The Company expenses PSUs based on the fair market value of the awards on the date of grant and the number of shares ultimately expected to vest at the end of each performance period, ratably over the each of the performance periods. Each PSU award consists of two vesting cliffs. Sixty percent of each award was eligible to vest on January 1, 2016 and forty percent is eligible to vest on January 1, 2018. Depending on performance against the target metrics, vesting will be between 0% and 140%. The actual number of shares of common stock issued will be determined on each vesting cliff date based on actual performance results against the target metrics. For PSUs, the Company re-assesses the probability of achieving the target metrics at the end of each reporting period and adjusts the recognition of expense accordingly. The Company’s stock-based compensation instruments are accounted for as equity awards as the settlement is in shares of the Company’s common stock. The Company amortizes stock-based compensation expense using a graded vesting method over the requisite service periods of the awards, which is generally the vesting period. Management estimates expected forfeitures and recognizes compensation costs only for those stock-based awards expected to vest. Amortization of stock-based compensation is presented in the same line item as the cash compensation to those employees in the accompanying Consolidated Statements of Income. The Company’s current practice is to issue new shares to settle stock option exercises and on vesting of RSUs and PSUs. 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, if any. 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. Recent Accounting Pronouncements On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. (ASU) 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. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606) - Principal versus Agent Considerations, which clarifies the implementation guidance for principal versus agent considerations in ASU 2014-09. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606) - Identifying Performance Obligations and Licensing, which amends the guidance in ASU 2014-09 related to identifying performance obligations and accounting for licenses of intellectual property. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606) - Narrow-Scope Improvements and Practical Expedients, which clarifies the following aspects in ASU 2014-09: collectability, presentation of sales taxes and other similar taxes collected from customers, noncash considerations, contract modifications at transition, completed contracts at transition, and technical correction. These ASUs, which are required to be adopted together will replace most existing revenue recognition guidance in U.S. GAAP. While early adoption is permitted as of January 1, 2017, the Company intends to adopt these ASUs on January 1, 2018 using either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method, but expects to do so in the first half of 2017 upon completion of further analysis. Currently, the Company is in the process of reviewing its historical contracts to quantify the impact that the adoption of these standards will have on the identification of and accounting for performance obligations and on the recognition of costs related to obtaining customer contracts (namely sales commissions and marketing costs). The Company anticipates the adoption of these ASUs will impact the timing of recognition and classification in its consolidated financial statements of certain marketing costs it incurs to obtain sales contracts from its customers. For example, there are direct response advertising costs that the Company currently capitalizes and amortizes for certain printed materials associated with new customer solicitations. Under the new guidance, these costs may need to be expensed as incurred. The Company continues to evaluate the impact the update will have on its consolidated financial statements and related disclosures. On February 25, 2016, FASB issued ASU No. ASU 2016-02, Leases, which requires that lessees recognize assets and liabilities for leases with lease terms greater than twelve months in the balance sheet. The ASU also requires additional disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. The ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. Adoption of the standard will require a modified retrospective approach. The Company plans to adopt this ASU on January 1, 2019 and is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures. On March 30, 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. The guidance amends the accounting for stock-based compensation and requires excess tax benefits and deficiencies to be recognized as a component of income tax expense rather than equity. This guidance also requires excess tax benefits and deficiencies to be presented as an operating activity on the statement of cash flows and allows an entity to make an accounting policy election to either estimate expected forfeitures or to account for them as they occur. The Company expects to record the cumulative impact of applying this guidance directly to retained earnings, which it estimates to be in the range of $20 million to $30 million on January 1, 2017 upon adoption. The inclusion of excess tax benefits and deficiencies as a component of income tax expense will increase volatility within the Company’s provision for income taxes as the amount of excess tax benefits or deficiencies from stock-based compensation awards are dependent on the stock price at the date the awards vest. As a result, subsequent to adoption the Company's income tax expense and associated effective tax rate will be impacted by fluctuations in stock price between the grant dates and vesting dates of equity awards. Also, the elimination of applying an estimated forfeiture rate to non-cash stock-based compensation expense may also cause the timing of expense to be more volatile. On August 26, 2016, FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This ASU clarifies and provides guidance on eight specific cash flow classification issues that are not currently addressed by current GAAP thereby reducing current diversity in practice. Although early adoption is permitted, the Company plans to adopt the ASU on January 1, 2018 and is evaluating the impact that it will have on its consolidated financial statements. In October 24 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory, which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. The ASU will be effective for the Company in its first quarter of 2018, but the Company is considering early adopting the new standard in 2017. The cumulative impact of applying this guidance to retained earnings is estimated to be approximately $1.2 million.

Balance Sheet Items

Balance Sheet Items	12 Months Ended
	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Balance Sheet Items	NOTE 3 — Balance Sheet Items Cash and Cash Equivalents Cash and cash equivalents consist of the following: December 31, 2015 2016 (In thousands) Cash $ 34,063 $ 84,169 Money market fund 271,153 50,077 Total cash and cash equivalents $ 305,216 $ 134,246 Short-term Investments The Company considers all investments purchased with an original remaining maturity of between three and twelve months at the date of purchase to be short-term investments. U.S. Treasury securities are classified as short-term investments and available-for-sale as of December 31, 2015. As of December 31, 2015, there were $39.9 million of short-term investments held as available-for-sale and recorded on the balance sheet at fair market value. In January 2016, the Company sold the remaining $39.9 million of short term investments. Realized and unrealized gains or losses, net of tax, have been immaterial in every period presented. Property and Equipment Property and equipment consist of the following: December 31, 2015 2016 (In thousands) Computer equipment $ 11,533 $ 13,220 Computer software 3,298 4,279 Furniture, fixtures and equipment 9,560 13,641 Leasehold improvements 14,589 20,083 Total property and equipment 38,980 51,223 Less: Accumulated depreciation (18,595 ) (26,691 ) Property and equipment, net $ 20,385 $ 24,532 Depreciation and amortization expense was $4.9 million, $6.1 million and $8.9 million for the years ended December 31, 2014, 2015 and 2016, respectively. Included in property and equipment as of December 31, 2015 and 2016 are assets acquired under capital lease obligations with original costs of $0.7 million and $0.7 million, respectively. Accumulated depreciation on capital lease assets was $0.3 million and $0.4 million as of December 31, 2015 and 2016, respectively. For the years ended December 31, 2015 and 2016, disposed property and equipment were immaterial. Goodwill and Intangible Assets Goodwill as of December 31, 2015 and 2016 consisted of the following: (In thousands) Balance as of December 31, 2015 $ - The Mutual Fund Store acquisition 293,720 April 2016 franchise acquisitions 7,319 July and August 2016 franchise acquisitions 4,571 October 2016 franchise acquisitions 6,410 Balance as of December 31, 2016 (1) $ 312,020 (1) There is no accumulated impairment of goodwill for the periods presented. Adjustments to goodwill were immaterial for the year ended December 31, 2016. Intangible assets as of December 31, 2015 and 2016 consisted of the following: December 31, 2015 December 31, 2016 (In thousands) Useful Life (years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 14 - 19 $ - $ - $ - $ 164,338 $ 7,781 $ 156,557 Franchise agreements and reacquired franchisee rights <1 - 9 - - - 2,697 498 2,199 Favorable leases, net 6 - - - 140 22 118 Trademarks/Trade names 20 - - - 39,230 1,810 37,420 Internal use software 2 - 4 53,398 46,313 7,085 60,965 51,508 9,457 Total $ 53,398 $ 46,313 $ 7,085 $ 267,370 $ 61,619 $ 205,751 Impairments to intangible assets were immaterial for the years ended December 31, 2015 and 2016. Amortization expense related to intangible assets was as follows: Year Ended December 31, 2015 2016 (In thousands) Customer relationships $ - $ 7,781 Franchise agreements and reacquired franchisee rights - 498 Favorable leases, net - 22 Trademarks/Trade names - 1,810 Internal use software (1) 4,900 5,297 Amortization expense $ 4,900 $ 15,408 (1) For the year ended December 31, 2015 and 2016, internal use software amortization included approximately $0.3 million and $0.5 million of stock-based compensation expense, respectively. The following table presents the estimated future amortization of intangible assets as of December 31, 2016: (In thousands) Years ending December 31: 2017 $ 15,873 2018 14,363 2019 12,387 2020 11,457 2021 11,124 Thereafter 140,547 $ 205,751 Accounts Payable Accounts payable consists of the following: December 31, 2015 2016 (In thousands) Data connectivity fees payable $ 22,389 $ 28,731 Trade accounts payable 3,580 4,654 Other 964 3,395 Total accounts payable $ 26,933 $ 36,780 Accrued Compensation Accrued compensation consists of the following: December 31, 2015 2016 (In thousands) Accrued bonus $ 12,384 $ 20,028 Accrued vacation 3,513 4,099 Accrued variable compensation 279 1,316 Accrued payroll 766 1,465 Other 159 759 Total accrued compensation $ 17,101 $ 27,667 The Company incurred cash payments totaling approximately $3.9 million in January 2017 associated with a change to its paid time off program for exempt employees as of January 1, 2017. Other Current Liabilities Other current liabilities consist of the following: December 31, 2015 2016 (In thousands) Short term holdbacks and earnouts $ - $ 2,873 Other 1,169 1,470 Total other current liabilities $ 1,169 $ 4,343

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Business Combinations	NOTE 4 — Business Combinations 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 enabled the Company to expand its independent advisory services to DC participants through comprehensive financial planning and the option to meet face-to-face with a dedicated financial advisor. A portion of the purchase price was placed in an escrow fund for up to 14 months following the closing for the satisfaction of certain indemnification claims. Following the closing of the acquisition, investment funds affiliated with Warburg Pincus LLC, the former majority owner of The Mutual Fund Store, held approximately 13% of the Company’s then-outstanding shares of common stock. (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 allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition, including 21 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 consistent with the expected realization of benefit for each asset. The table below represents the allocation of the total acquisition consideration to The Mutual Fund Store’s tangible and intangible assets and liabilities based on the Company’s estimate of their respective fair values: (In thousands) Assets acquired $ 48,117 Identifiable intangible assets 191,020 Goodwill 293,720 Liabilities assumed (19,838 ) Total consideration $ 513,019 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 Favorable leases, net 140 6 Trademarks/Trade names 39,230 20 Total $ 191,020 The purchase price allocation resulted in $293.7 million of goodwill, of which approximately $161.5 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 Consolidated Statements of Income beginning February 1, 2016. The Mutual Fund Store’s total revenue, including acquired franchises (discussed below) for the eleven-month period ended December 31, 2016 was $103.8 million. The Company incurred transaction costs totaling $6.2 million during the year ended December 31, 2016 that were expensed as incurred in general and administrative expense in its Consolidated Statements of Income. 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. During the year ended December 31, 2016, the Company paid $2.2 million, primarily for previously-withheld consideration for franchises acquired by The Mutual Fund Store prior to February 1, 2016. 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 years ended December 31, 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. Year Ended December 31, 2015 2016 (In thousands, except per share data) Revenue $ 411,191 $ 432,021 Net income (1) $ 38,795 $ 39,058 Net income per share: Basic $ 0.63 $ 0.63 Diluted $ 0.62 $ 0.62 (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 a 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 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 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 franchisee rights. The intangible assets will be amortized based upon their estimated useful lives on a straight-lined basis consistent with the expected realization of benefit for each asset. The table below represents the allocation of the aggregate acquisition consideration based on the Company’s 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 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 14 Reacquired franchisee rights 685 9 Total $ 6,527 The 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 year ended December 31, 2016 that were expensed as incurred in general and administrative expense in its Consolidated Statements of Income. Acquisition of Franchises July and August 2016 In July and August 2016, the Company completed the acquisition of the six franchises associated with the six locations listed below for a total aggregate cash consideration of $8.1 million. THE MUTUAL FUND STORE® - Grand Rapids THE MUTUAL FUND STORE® - Tuscon THE MUTUAL FUND STORE® - National III THE MUTUAL FUND STORE® - Springfield, MA THE MUTUAL FUND STORE® - Memphis THE MUTUAL FUND STORE® - Madison The acquisitions are expected to enable the Company to have greater oversight and control over the operations of these advisor center locations. The purchase price allocation is subject to certain closing and post-closing adjustments. Approximately $0.3 million in holdback amounts have been reserved with respect to indemnification claims on behalf of the Company, which are expected to be paid in July and August 2017. The total acquisition consideration has been 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 franchisee rights. The intangible assets will be amortized based upon their estimated useful lives on a straight-lined basis consistent with the expected realization of benefit for each asset. The table below represents the allocation of the aggregate acquisition consideration based on the Company’s estimate of their respective fair values: (In thousands) Assets acquired $ 566 Identifiable intangible assets 3,050 Goodwill 4,571 Liabilities assumed (58 ) Total consideration $ 8,129 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 $ 2,508 14 Reacquired franchisee rights 542 8 Total $ 3,050 The purchase price allocations resulted in $4.6 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. As a result of the acquisitions of two of the franchises, the Company reacquired the franchisee rights at a purchase price which was pre-determined per the franchise agreement contracts and effectively settled its pre-existing royalty contracts. The Company engaged a third-party specialist to assist in assessing the fair value of these rights and determined that the reacquired right had a fair value less than the price paid. The amount by which the contract was unfavorable to the Company when compared to current market transactions for similar items resulted in a loss of $4.1 million for the year ended December 31, 2016, and was accounted for as a separate transaction from the business combination. The loss of $4.1 million was cash paid in addition to the $8.1 million in cash consideration for these acquisitions for total cash paid of $12.2 million. The Company incurred transaction costs totaling $0.1 million during the year ended December 31, 2016 that were expensed as incurred in general and administrative expense in its Consolidated Statements of Income. The Company wrote off $0.2 million in notes receivable as of June 30, 2016 related to these franchise acquisitions as they were deemed to be uncollectable. Acquisition of Franchises October 2016 In October 2016, the Company completed the acquisition of the eight franchises associated with the eight locations listed below for a total aggregate cash consideration of $12.8 million. THE MUTUAL FUND STORE® - DesMoines THE MUTUAL FUND STORE® - Harrisburg THE MUTUAL FUND STORE® - Greensboro THE MUTUAL FUND STORE® - Knoxville THE MUTUAL FUND STORE® - Nashville THE MUTUAL FUND STORE® - Oklahoma THE MUTUAL FUND STORE® - Raleigh THE MUTUAL FUND STORE® - Springfield, MO 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 $0.6 million in holdback amounts have been reserved with respect to indemnification claims on behalf of the Company, which are expected to be paid in October 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 franchisee 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 $ 710 Identifiable intangible assets 5,808 Goodwill 6,410 Liabilities assumed (122 ) Total consideration $ 12,806 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 $ 4,688 14 Reacquired franchisee rights 1,120 9 Total $ 5,808 The preliminary purchase price allocations resulted in $6.4 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 $0.2 million during the year ended December 31, 2016 that were expensed as incurred in general and administrative expense in its Consolidated Statements of Income.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stockholders' Equity	NOTE 5 — Stockholders’ Equity Common Stock As of December 31, 2016, there were 500,000,000 shares of common stock authorized, 63,475,821 shares issued and 62,198,821 shares outstanding. Common stockholders are entitled to dividends if and when declared by the Board of Directors. Cash Dividends The Company initiated cash dividends on its common stock in April 2013. For the year ended December 31, 2016, the Board of Directors declared quarterly cash dividends totaling $0.28 per share annually of common stock outstanding. On February 14, 2017 the Board of Directors declared a quarterly dividend of $0.07 per share to be paid on April 5, 2017 to record-holders as of March 22, 2017. 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 December 31, 2016, the Company had a dividend payable balance of $4.4 million, which was paid to stockholders in January 2017. 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 over a twelve-month period of which $47.6 million was utilized as of December 31, 2015. The stock repurchase program was funded by available working capital. The stock repurchase program expired on November 4, 2015. The repurchases were recorded as treasury stock and resulted in a reduction of stockholders’ equity. The Company repurchased shares of its common stock in the open market during the periods presented as follows: Number of Shares Average Repurchase Price Per Share Amount (In thousands) 2015: Third quarter 344,000 $ 32.43 $ 11,154 Second quarter 378,000 $ 42.29 $ 15,984 First quarter 275,000 $ 41.15 $ 11,317 2014: Fourth quarter 280,000 $ 32.79 $ 9,182 1,277,000 $ 47,637 Common Stock Reserved for Future Issuance As of December 31, 2016, the Company has reserved the following shares of common stock for issuance in connection with: Stock options outstanding 5,457,093 Restricted stock units outstanding 1,597,321 Performance stock units outstanding 105,080 Stock awards available for grant 7,965,231 Total shares reserved 15,124,725 Stock Plans 1998 Stock Plan The 1998 Stock Plan expired in April 2010. The Company has reserved a total of 535,155 shares of its common stock for issuance under its 1998 Stock Plan related to options granted prior to the initial public offering. Under the 1998 Stock Plan, the Board of Directors granted stock purchase rights and incentive and non-statutory stock options to employees, consultants and directors at fair market value on the date of grant. Vesting provisions of stock purchase rights and options granted under the 1998 Stock Plan were determined by the Board of Directors. Stock purchase rights have a 30-day expiration period and options expire no later than 10 years from the date of grant. In the event of voluntary or involuntary termination of employment with the Company, with or without cause, typically all unvested options are forfeited and all vested options must be exercised within three months or they are forfeited. 2009 Stock Incentive Plan The Company has reserved a total of 6,624,339 shares of its common stock for issuance under its Amended and Restated 2009 Stock Incentive Plan (the 2009 Stock Incentive Plan). In February 2013, the Board of Directors amended and restated the 2009 Stock Incentive Plan and approved the 2013-2017 Long-Term Incentive Program (the LTIP) thereunder, which was subsequently approved by stockholders in May 2013. Under the LTIP, the Company may grant performance stock unit (PSUs) awards based on objective performance criteria pre-established by the Compensation Committee of the Board of Directors. Under the 2009 Stock Incentive Plan, the Board of Directors may grant restricted stock awards, RSUs, PSUs, stock appreciation rights and incentive and non-statutory stock options to employees, consultants and directors at fair market value on the date of grant. Vesting provisions of equity awards granted under the 2009 Stock Incentive Plan are determined by the Board of Directors. Options granted will generally vest over a period of four years with 25% vesting on the first anniversary of the grant date and 1/48 vesting per month thereafter. Options expire no later than 10 years from the date of grant. RSUs will vest according to the terms of the award on the date of the grant, which is typically a period of four years with 25% of the shares vesting on each anniversary after the grant date. Restricted stock and PSUs awarded will vest according to the terms of the award on the date of the grant. For PSUs granted for the years ended December 31, 2013 and 2014, each PSU award consists of two vesting cliffs. Sixty percent of each award was eligible to vest on January 1, 2016 and 40% is eligible to vest on January 1, 2018. Depending on performance against the target metrics, vesting will be between 0% and 140%. On a quarterly basis, the estimated probability of achieving the objective performance criteria is re-evaluated by management and the expense is adjusted accordingly at the end of each balance sheet period. The number of shares of the Company’s common stock issued to the award recipients at the end of each of the PSU vesting periods will be based on actual achievement results. Options, RSUs and PSUs carry neither voting rights nor rights to dividends. In the event of voluntary or involuntary termination of employment with the Company, with or without cause, typically all unvested options, RSUs and PSUs are forfeited and all vested options must be exercised within three months or they are forfeited. 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 of control event, death, or total and permanent disability. 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. Upon vesting, RSUs and PSUs are settled in common stock on a one-for-one basis. Upon vesting of the RSUs and PSUs, the Company typically withholds shares that would otherwise be distributed to the employee when the RSUs and PSUs are settled having a fair market value equal to the amount necessary to satisfy minimum tax withholding obligations, which the Company will remit from operational cash. As of December 31, 2016, no shares were subject to repurchase and 7,965,231 shares were available for future grant. The 2009 Stock Incentive Plan expires in March 2026. Stock Option Plans The following table summarizes option activity under the 1998 Stock Plan and the 2009 Stock Incentive Plan: Number of Options Weighted Average Exercise Price Weighted Average Remaining Term Aggregate Intrinsic Value Balance, January 1, 2014 3,918,890 18.79 Granted 1,645,477 37.29 Exercised (1,217,046 ) 10.48 Forfeited (198,323 ) 36.20 Balance, December 31, 2014 4,148,998 27.73 Granted 1,115,109 37.30 Exercised (546,511 ) 16.86 Forfeited (317,781 ) 39.63 Balance, December 31, 2015 4,399,815 $ 30.65 Granted 1,831,432 27.05 Exercised (404,208 ) 16.39 Forfeited (369,946 ) 36.96 Balance, December 31, 2016 5,457,093 $ 30.07 7.42 years $ 46,264,337 Vested and expected to vest, December 31, 2016 5,149,665 $ 30.06 7.33 years $ 44,058,365 Exercisable, December 31, 2016 2,495,383 $ 29.08 5.75 years $ 25,949,866 The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (the aggregate difference between the fair value of the Company’s common stock on December 31, 2016 of $36.75, and the exercise price of in-the-money options) that would have been received by the option holders had all option holders exercised their options as of that date. The total intrinsic value of options exercised during the years ended December 31, 2014, 2015 and 2016 was $44.0 million, $12.9 million and $6.2 million, respectively. The weighted average fair value per share of options granted to employees for the years ended December 31, 2014, 2015 and 2016 was approximately $13.24, $13.17 and $10.35, respectively. Total cash received from employees as a result of employee stock option exercises for the years ended December 31, 2014, 2015 and 2016 was $12.8 million, $9.2 million and $6.6 million, respectively. The total grant-date fair value of the shares vested during the years ended December 31, 2014, 2015 and 2016 was $6.5 million, $11.2 million and $11.2 million, respectively. As of December 31, 2016, there was $13.7 million of unrecognized compensation cost, adjusted for estimated forfeitures, related to unvested stock options granted after January 1, 2006, to be recognized over the weighted average remaining requisite service period of 1.2 years. The following weighted average assumptions were used to value options granted: 2014 2015 2016 Expected life in years 6 6 6 Risk-free interest rate 1.85% 1.72% 1.42% Volatility 36% 37% 43% Dividend yield 0.6% 0.8% 1.0% Restricted Stock Units Information The following table summarizes RSU activity under the 2009 Stock Incentive Plan: Number of Shares Weighted Average Grant-Date Fair Value Weighted Average Remaining Term Aggregate Intrinsic Value Balance, January 1, 2014 562,638 $ 35.07 Granted 509,881 36.72 Vested and settled (1) (176,470 ) 31.89 Forfeited (51,327 ) 35.46 Balance, December 31, 2014 844,722 36.38 Granted 363,388 36.23 Vested and settled (1) (302,617 ) 34.90 Forfeited (90,676 ) 37.06 Balance, December 31, 2015 814,817 36.78 Granted 1,156,344 27.28 Vested and settled (1) (278,700 ) 36.15 Forfeited (95,140 ) 34.36 Balance, December 31, 2016 1,597,321 $ 30.16 1.71 years $ 58,701,547 Expected to vest, December 31, 2016 1,412,841 $ 30.22 1.63 years $ 51,921,920 (1) Vested and settled for the years ended December 31, 2014, 2015 and 2016 includes 60,461 shares, 100,337 shares and 104,109 shares, respectively, which were tendered in exchange for minimum tax withholdings. The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (using the fair value of the Company’s common stock on December 31, 2016 of $36.75). As of December 31, 2016, the aggregate intrinsic value of unvested RSUs was $58.7 million. The total intrinsic value of RSUs vested and settled during the years ended December 31, 2014, 2015 and 2016 was $6.0 million, $10.8 million and $9.0 million, respectively. The total grant-date fair value of shares vested during the years ended December 31, 2014, 2015 and 2016 was $5.6 million, $10.6 million and $10.1 million, respectively. As of December 31, 2016, there was $23.9 million of unrecognized compensation cost, adjusted for estimated forfeitures, related to restricted stock purchase rights to be recognized over the weighted average remaining requisite service period of 1.7 years. Performance Stock Units Information During the years ended December 31, 2013 and 2014, the Compensation Committee of the Board of Directors granted PSUs to certain executives. The following table summarizes unvested PSU activity under the 2009 Stock Incentive Plan: Number of Shares Weighted Average Grant-Date Fair Value Weighted Average Remaining Term Aggregate Intrinsic Value Balance, January 1, 2014 414,300 $ 43.59 Granted 51,300 42.07 Vested and settled - - Forfeited (173,600 ) 43.59 Balance, December 31, 2014 292,000 43.32 Granted - - Vested and settled - - Forfeited - - Balance, December 31, 2015 292,000 43.32 Granted - - Vested and settled (38,797 ) 43.32 Forfeited (148,123 ) 43.27 Balance, December 31, 2016 105,080 $ 43.39 1.00 years $ 3,861,690 Expected to vest, December 31, 2016 97,619 $ 43.39 1.00 years $ 3,587,510 The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (using the fair value of the Company’s common stock on December 31, 2016 of $36.75). As of December 31, 2016, there was $0.3 million of unrecognized compensation cost, adjusted for estimated forfeitures, related to PSUs to be recognized over the weighted average remaining requisite service period of 1.0 years. As of December 31, 2014, the Company determined that certain performance criteria for PSUs was improbable of achievement related to December 31, 2015 performance metrics, and accordingly reversed plan-to-date stock-based compensation expense of $1.2 million previously recognized related to these certain criteria. On January 1, 2016, performance achievement for the December 31, 2015 performance metrics that were probable of achievement resulted in 38,797 shares issued to certain executives in February 2016. Stock-based Compensation The following table summarizes the stock-based compensation by functional area: Year Ended December 31, 2014 2015 2016 (In thousands) Stock-based compensation: Cost of revenue $ 3,191 $ 4,501 $ 7,974 Research and development 4,378 5,631 6,012 Sales and marketing 5,823 7,643 9,610 General and administrative 6,013 7,918 9,604 Amortization of intangible assets 360 335 489 Total stock-based compensation $ 19,765 $ 26,028 $ 33,689 Recognized income tax benefit on stock-based compensation included with income tax expense for the years ended December 31, 2014, 2015 and 2016 was $8.4 million, $10.5 million and $13.4 million, respectively. Stock-based compensation expense for the year ended December 31, 2014 includes modification expense of $0.7 million resulting from the November 2014 consulting agreement entered into between the Company and its now former Chief Executive Officer. As of December 31, 2014, the Company reversed $1.2 million of expense previously recognized on unvested shares under the graded-vesting attribution method related to the awards that were subject to the modifications.

Net Income Per Common Share

Net Income Per Common Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Net Income Per Common Share	NOTE 6 — Net Income Per Common Share The following table sets forth the computation of basic and diluted net income per share attributable to holders of common stock: Year Ended December 31, 2014 2015 2016 (In thousands, except per share data) Numerator (basic and diluted): Net income $ 36,952 $ 31,617 $ 28,560 Denominator (basic): Weighted average common shares outstanding 51,601 51,732 60,962 Denominator (diluted): Weighted average common shares outstanding 51,601 51,732 60,962 Dilutive stock options outstanding 1,384 903 602 Dilutive unvested restricted stock units 276 374 524 Dilutive unvested performance stock units 48 30 15 Net weighted average common shares outstanding 53,309 53,039 62,103 Net income per share attributable to holders of common stock: Basic $ 0.72 $ 0.61 $ 0.47 Diluted $ 0.69 $ 0.60 $ 0.46 Diluted net income per share does not include the effect of the following anti-dilutive common equivalent shares: Year Ended December 31, 2014 2015 2016 (In thousands) Stock options outstanding 829 1,601 3,443 Restricted stock units outstanding 15 32 72 Performance stock units outstanding 1 - - Total anti-dilutive common equivalent shares 845 1,633 3,515 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.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 7 — Income Taxes The Company is subject to income taxes only in the United States. Provision for income tax expense consists of the following: Year Ended December 31, 2014 2015 2016 (In thousands) Current expense: Federal $ 11,957 $ 24,995 $ 19,580 State 4,822 598 2,244 Total current 16,779 25,593 21,824 Deferred expense: Federal 7,479 (7,968 ) (1,403 ) State (283 ) 239 291 Total deferred 7,196 (7,729 ) (1,112 ) Total provision for income taxes $ 23,975 $ 17,864 $ 20,712 The Company’s current income tax expense has been reduced by employee stock-based awards. For stock options, the Company receives an income tax benefit calculated as the tax effect of the difference between the fair market value of the stock issued at the time of the exercise and the exercise price. For RSUs, the Company receives an income tax benefit upon the award’s vesting equal to the tax effect of the underlying stock’s fair market value. If an incremental tax benefit is realized as a reduction of income tax payable, such excess tax benefit is recognized as an increase to additional paid-in capital. The excess tax benefits from employee stock-based awards transactions in the years ended December 31, 2014, 2015 and 2016 were $12.8 million, $25.1 million and $18.4 million, respectively. The difference between income tax expense and the amount resulting from applying the federal statutory rate of 35% to net income is attributable to the following: Year Ended December 31, 2014 2015 2016 Federal tax at statutory rate 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 5.2 % 1.4 % 3.6 % Nondeductible expenses 0.1 % 0.2 % 0.4 % Stock-based compensation -0.5 % -0.2 % 0.2 % Research and development credit -0.4 % -0.3 % -0.3 % Change in valuation allowance -0.2 % 0.0 % 0.0 % Other 0.2 % 0.0 % 3.1 % Income tax expense 39.4 % 36.1 % 42.0 % The components of the Company’s deferred tax assets and liabilities are as follows: December 31, 2015 2016 (In thousands) Deferred tax assets: Net operating loss carryforwards $ 655 $ 14,046 Tax credits 1,965 2,091 Deferred revenue 147 98 Stock-based compensation 16,944 23,763 Accrued expenses and reserves 10,075 15,017 Other temporary differences 1,003 - Total gross deferred tax assets 30,789 55,015 Valuation allowance — (162 ) Net deferred tax assets 30,789 54,853 Deferred tax liabilities Fixed assets and intangible amortization (9,009 ) (14,349 ) Total deferred tax liabilities (9,009 ) (14,349 ) Net deferred tax assets $ 21,780 $ 40,504 The Company continuously evaluates additional facts representing positive and negative evidence in the determination of the realizability of the deferred tax assets. The Company continuously evaluates additional facts representing positive and negative evidence in the determination of the realizability of the deferred tax assets. Upon evaluating the positive and negative evidence present at December 31, 2016, management concluded it was more likely than not that the benefit of its deferred tax assets will be realized. As of December 31, 2016, the amount of pre-tax income the Company needs to generate in future years in order to realize its deferred tax assets is approximately $89.8 million and $171.4 million with respect to approximately $31.4 million of federal related deferred tax assets and $9.1 million of state related net deferred tax assets, respectively. As of December 31, 2016, the Company has net operating loss carryforwards for federal and state income tax purposes of approximately $83.1 million and $77.2 million, respectively, available to reduce future income subject to income taxes. The federal and state net operating loss carryforwards expire through 2036. At December 31, 2016, net operating losses of $47.4 million, federal, and $19.1 million, state, relate to excess stock-based compensation, and accordingly, no deferred tax asset is recognized for such amounts prior to the adoption of ASU 2016-09 on January 1, 2017, discussed above. As of December 31, 2016, the Company has research credit carryforwards for federal and California income tax purposes of approximately $5.5 million and $8.3 million, respectively, available to reduce future income taxes. The federal research credit carryforwards expire through 2036. The California research credit carries forward indefinitely. As of December 31, 2016, research credits of $5.5 million for federal and $0.6 million for state relate to excess stock based compensation, and accordingly no deferred tax asset is recognized for such prior to the adoption of ASU 2016-09 on January 1, 2017, discussed above. A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows: Year Ended December 31, 2015 2016 (In thousands) Balance, beginning of year $ 8,319 $ 6,657 Reductions for tax positions taken in the prior year (1,666 ) - Additions for tax positions taken in the prior year - - Additions for tax positions taken in the current year 4 15 Balance, end of year $ 6,657 $ 6,672 As of December 31, 2016, unrecognized tax benefits approximating $5.1 million would affect the effective tax rate if recognized. The Company does not anticipate adjustments to unrecognized tax benefits which would result in a material change to its financial position within the next twelve months. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. During the years ended December 31, 2014, 2015 and 2016, the accrued interest and penalties were immaterial. The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. All tax years since inception in the Company’s major jurisdictions are open due to loss carryforwards and may be subject to examination in one or more jurisdictions.

Savings Plan

Savings Plan	12 Months Ended
	Dec. 31, 2016
Postemployment Benefits [Abstract]
Savings Plan	NOTE 8 — Savings Plan The Company maintains a savings plan under Section 401(k) of the Internal Revenue Code. Under the plan, employees may contribute up to 75% of their pre-tax salaries per year, but not more than the statutory limits. The Company may, at its discretion, make matching contributions to the 401(k) Plan. For the year ended December 31, 2014, the Company made matching contributions of 50% of employee contributions up to 3% of salary (including commissions) and for the years ended December 31, 2015 and 2016 the Company made matching contributions of 100% of employee contributions up to 4% of salary (including commissions), which totaled $1.5 million, $2.3 million and $3.7 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9 — Commitments and Contingencies Commitments The Company leases its facilities under non-cancelable operating leases expiring at various dates through the year 2027. The Company classifies tenant improvement allowances in its Consolidated Balance Sheets under deferred rent and amortizes them on a straight-line basis over the related lease period. Tenant improvement allowance activity is presented as part of cash flows from operating activities in the accompanying Consolidated Statements of Cash Flows. Certain of the Company’s facility leases provide for a free rent period or escalating rent payments and, accordingly, the Company has straight-lined the rental payments over the respective lease terms. As of December 31, 2015 and 2016, deferred rent was $10.5 million and $13.6 million, respectively. Rent expense for all operating leases totaled approximately $4.0 million, $3.9 million and $8.3 million for the years ended December 31, 2014, 2015 and 2016, respectively. In the years ended December 31, 2014, 2015 and 2016, the Company entered into various office equipment capital leases which terminate in between April 2019 and August 2019. The following table summarizes the Company’s contractual obligations as of December 31, 2016. Certain of these contractual obligations are reflected on the Company’s Consolidated Balance Sheets while others are disclosed as future obligations under GAAP. Purchase obligations represent non-cancelable, long-term contracts primarily related to software and data services. Capital Lease Operating Leases Purchase Obligations (In thousands) Year ending December 31, 2017 $ 119 $ 9,656 $ 2,278 2018 118 9,621 1,388 2019 43 9,170 402 2020 - 6,766 - 2021 - 4,967 - Thereafter - 13,058 - Total minimum payments 280 $ 53,238 $ 4,068 Less: Amounts representing interest expense (14 ) Present value of net minimum lease payments 266 Less: Current obligations (110 ) Long-term obligations $ 156 In June 2015, the Company entered into a non-cancelable operating lease amendment for its Phoenix, Arizona office. The lease amendment added an additional 10,953 square feet of office space and extended the lease term to December 2021. The lease amendment includes a tenant improvement allowance of approximately $0.4 million and as of December 31, 2015, the receivable balance associated with this tenant improvement allowance was $0.4 million. In February 2016, as a result of the acquisition of The Mutual Fund Store, the Company acquired non-cancelable operating leases, including an existing office in Overland Park, Kansas, which expired in September 2016, as well as a new 33,100 square foot office in Overland Park, Kansas, which operating leases over states expires in March 2027. This Overland Park, Kansas lease also includes a tenant improvement allowance of approximately $1.8 million. During the year ended December 31, 2016, the Company acquired approximately 130 advisor center location operating leases located in over 35 states with expiration dates through July 2027. 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.

Basis of Presentation and Pri17

Basis of Presentation and Principles of Consolidation (Policies)	12 Months Ended
	Dec. 31, 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.
Cash and Cash Equivalents	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 and cash equivalents are comprised of cash held primarily in money market accounts.
Short-term Investments	Short-term Investments Short-term investments consist of U.S. Treasury securities. The Company had previously classified its short-term investments as held-to-maturity through October 2015. In November and December 2015, the Company sold a total of $120 million of short-term investments prior to maturity to address cash needs related to the acquisition of The Mutual Fund Store after signing the definitive acquisition agreement on November 5, 2015. The remaining short-term investments of $39.9 million as of December 31, 2015 were classified as available-for-sale and recorded on the balance sheet at fair market value. In January 2016, the Company sold the remaining $39.9 million of short term investments. Realized and unrealized gains or losses, net of tax, have been immaterial in every period presented.
Fair Value of Financial Instruments	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 reported its short-term investments in U.S. Treasury securities at fair market value as of December 31, 2015 and 2016. There have been no changes in the Company’s valuation techniques during the years ended December 31, 2015 and 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 December 31, 2016 Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) (1) Significant Other Observable Inputs (Level 2) (2) Significant Other Unobservable Inputs (Level 3) (3) Total Fair Value Quoted Prices in Active Markets for Identical 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 $ - $ - $ 50,077 $ 50,077 $ - $ - 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.
Concentration of Credit Risk	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 which are issued or guaranteed by the United States government or their agencies. These deposits may exceed federal deposit insurance limits. The fair value of the Company’s money market funds is based on a trade date basis on the last business day of the accounting period. 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. The Company did not have any customers that comprised 10% or more of the accounts receivable balance as of December 31, 2015 or 2016. Year Ended December 31, 2014 2015 Percentage of revenue: (1) Empower Retirement TM 11 % 9 % Aon Hewitt Financial Advisors, LLC 9 % 10 % (1) The Company did not have any customers that comprised 10% or more of total revenue for the year ended December 31, 2016.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets and allocated to the department of benefit in the accompanying Consolidated Statements of Income. Leasehold improvements and capital lease equipment are amortized over the shorter of the remaining lease term or the useful life of the asset. Software purchased for internal use is amortized over its useful life. Expenditures for maintenance and repairs are charged to expense as incurred. Estimated Useful Lives in Years Computer equipment 3 Computer software 2 Furniture, fixtures, and equipment 5 Leasehold improvements life of the lease Capital lease equipment life of the lease
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. There were no indicators of impairment to the carrying amount of goodwill during the year ended December 31, 2016. 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 raise doubt about 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. There were no impairments or changes in useful lives of acquired intangible assets during the year ended December 31, 2016. Intangible assets consist primarily of customer relationships, trademarks, trade names, internal use software and reacquired franchisee rights. 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, direct response advertising and intangible assets, including capitalized internal use software, 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 or asset group are less than their carrying amount, the Company would recognize an impairment loss based on any excess of the carrying amount of the asset or asset group over their fair value. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. During the years ended December 31, 2015 and 2016, impairments to long-lived assets were immaterial.
Comprehensive Income	Comprehensive Income 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.
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 4, the Company re-examined its reporting and operating structure, and determined it continues to operate as a single operating and reportable segment.
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 and individual investor clients who are enrolled one of its discretionary portfolio management services (either the Professional Management service or the Personal Advisor service) for the management of their account assets. The Company continues to use the term professional management revenue to include revenue from both the Professional Management and Personal Advisor services. The Company’s Professional Management service is a discretionary personalized portfolio management service for DC participants who want to work with or delegate the management of their retirement accounts to a professional with the help of an advisor team. Personal Advisor is a personalized service that can provide discretionary portfolio management on a client’s 401(k), IRA and/or taxable assets, as well as comprehensive financial planning and a dedicated advisor representative that participants can meet with in person, online or by phone. The Company’s retirement income solutions, including Income+ and Retirement Paycheck, which are features of its Professional Management and Personal Advisor services, respectively, provide clients approaching or in retirement with discretionary portfolio management with an income objective and steady monthly payments from their accounts during retirement, including Social Security claiming guidance and planning. 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 may be provided on a subadvisory basis) and by written agreements with individual investors. The Company’s arrangements with clients using discretionary portfolio management services generally provide for fees based on the value of assets we manage and are generally payable quarterly in arrears. The majority of client fees across both services, as well as across both advisory and subadvisory relationships for DC accounts, are calculated on a monthly basis, as the product of client fee rates and the value of assets under management (AUM) at or near the end of each month. For IRA and taxable accounts, its client fees are calculated on a quarterly basis at the end of each quarter. Platform. The Company derives platform revenue from recurring, subscription-based fees for access to its services, including Online Advice, education and guidance, and to a lesser extent, from setup fees and its Professional Management service. Online Advice is a non-discretionary, Internet-based investment advisory service, which includes personalized online savings and investment advice and retirement income projections for clients who want to manage their retirement themselves. 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 fees for non-retirement account servicing, franchise royalty fees, 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. The fees for non-retirement account servicing do not impact client fees paid for discretionary portfolio management services, and are disclosed in the applicable Form ADV of the Company’s advisory subsidiaries. Franchise royalty fees were applicable for the period of February 1, 2016 to September 30, 2016 and recognized as revenue as the services are performed by the franchisees. The franchise royalty fees were based on specified percentages of the franchisees’ advisory fees billed to their clients, which were primarily based on predetermined percentages of the market value of the AUM and are affected by changes in the AUM. Costs associated with reimbursed printed fulfillment materials are expensed to cost of revenue as incurred.
Deferred Revenue	Deferred Revenue Deferred revenue consists primarily of billings or payments received in advance of revenue recognition generated by the Company’s platform service and setup fees. For these services, the Company generally invoices its customers in annual or quarterly installments payable in advance. Accordingly, the deferred revenue balance does not represent the total contract value of annual or multi-year, non-cancelable subscription contracts.
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 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 Consolidated Statements of Income.
Direct Response Advertising	Direct Response Advertising The Company’s advertising costs include printed materials associated with new customer solicitations. These costs relate primarily to either active enrollment campaigns, where marketing materials are sent to solicit enrollment in the Company’s Professional Management service, or passive enrollment campaigns, where the plan sponsor defaults all eligible clients into the Professional Management service unless they decline. Advertising costs relating to passive enrollment campaigns and other general marketing materials sent to participants do not qualify as direct response advertising and are expensed to sales and marketing in the period the advertising activities first take place. Printed fulfillment costs relating to subadvisory campaigns do not qualify as direct response advertising and are expensed to cost of revenue in the period in which the expenses were incurred. As campaign materials are modified over time, the Company evaluates the content to ensure it has properly identified those campaigns which qualify for capitalization per the accounting definition of direct-response advertising and expense those campaigns that do not qualify as incurred. Advertising costs associated with direct advisory active enrollment campaigns qualify for capitalization as direct response advertising. The capitalized costs are amortized over the estimated three-year period of probable future benefits following the enrollment of a client into the Professional Management service based on the ratio of current period revenue for the direct response advertising cost pool as compared to the total estimated revenue expected for the direct response advertising cost pool over the remaining period of probable future benefits. The realizability of the amounts of direct response advertising reported as assets are evaluated at each balance sheet date by comparing the carrying amounts of such assets on a cost-pool-by-cost-pool basis to the probable remaining future net revenues expected to result directly from such advertising. The Company capitalizes direct response advertising costs associated with direct advisory active enrollment campaigns as the Company has sufficient and verifiable historical patterns to demonstrate the probable future benefits of such campaigns. During the years ended December 31, 2014, 2015 and 2016, the Company capitalized $4.6 million, $4.4 million and $3.5 million, respectively, of direct response advertising costs. Advertising expense was $6.9 million, $8.2 million and $19.9 million for the years ended December 31, 2014, 2015 and 2016, respectively, of which direct response advertising amortization was $6.1 million, $5.5 million and $4.8 million, respectively. During the years ended December 31, 2014, 2015 and 2016, impairments to direct response advertising were immaterial. Advertising expense other than direct response advertising amortization, such as radio and digital advertising, was expensed as incurred.
Deferred Income Taxes	Deferred Income Taxes Deferred tax assets and liabilities are determined based on temporary differences between financial reporting and the tax bases of assets and liabilities. Deferred tax assets are also recognized for tax net operating loss carryforwards. These deferred tax assets and liabilities are measured using the enacted tax rates and laws that are expected to be in effect when such amounts are expected to reverse or be utilized. The realization of total deferred tax assets is contingent upon the generation of future taxable income. Valuation allowances are provided to reduce such deferred tax assets to amounts more likely than not to be ultimately realized. See Note 7 for additional information.
Stock-based Compensation	Stock-based Compensation Employee stock-based compensation expense is based on the following: (1) the grant date fair value of stock option awards granted or modified after January 1, 2006, and (2) the fair value of the Company’s common stock as of the grant date for restricted stock units (RSUs) and performance stock units (PSUs). The Company estimates the fair value of stock options granted using the Black-Scholes option pricing model. The Company currently uses the simplified method in developing an estimate of expected term of stock options. The expected term represents the period that stock-based awards are expected to be outstanding, giving consideration to the contractual terms of the stock-based awards, vesting schedules and expectations of future employee behavior as influenced by changes to the terms of the Company’s stock-based awards. Prior to 2016, the computation of expected volatility was based on a combination of the historical and implied volatility of comparable companies from a representative peer group based on industry and market capitalization data, as well as the Company’s own historical volatility. Beginning in 2016, the Company began to base expected volatility on its own historical volatility, as it had sufficient exercise history to do so. The Company includes a dividend yield in its Black-Scholes option pricing model to reflect the anticipated dividends to be paid over the expected term of the awards. The Company expenses RSUs over the performance period based on the fair market value of the awards at the date of grant. The Company expenses PSUs based on the fair market value of the awards on the date of grant and the number of shares ultimately expected to vest at the end of each performance period, ratably over the each of the performance periods. Each PSU award consists of two vesting cliffs. Sixty percent of each award was eligible to vest on January 1, 2016 and forty percent is eligible to vest on January 1, 2018. Depending on performance against the target metrics, vesting will be between 0% and 140%. The actual number of shares of common stock issued will be determined on each vesting cliff date based on actual performance results against the target metrics. For PSUs, the Company re-assesses the probability of achieving the target metrics at the end of each reporting period and adjusts the recognition of expense accordingly. The Company’s stock-based compensation instruments are accounted for as equity awards as the settlement is in shares of the Company’s common stock. The Company amortizes stock-based compensation expense using a graded vesting method over the requisite service periods of the awards, which is generally the vesting period. Management estimates expected forfeitures and recognizes compensation costs only for those stock-based awards expected to vest. Amortization of stock-based compensation is presented in the same line item as the cash compensation to those employees in the accompanying Consolidated Statements of Income. The Company’s current practice is to issue new shares to settle stock option exercises and on vesting of RSUs and PSUs.
Net Income per Common Share	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, if any. 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. (ASU) 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. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606) - Principal versus Agent Considerations, which clarifies the implementation guidance for principal versus agent considerations in ASU 2014-09. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606) - Identifying Performance Obligations and Licensing, which amends the guidance in ASU 2014-09 related to identifying performance obligations and accounting for licenses of intellectual property. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606) - Narrow-Scope Improvements and Practical Expedients, which clarifies the following aspects in ASU 2014-09: collectability, presentation of sales taxes and other similar taxes collected from customers, noncash considerations, contract modifications at transition, completed contracts at transition, and technical correction. These ASUs, which are required to be adopted together will replace most existing revenue recognition guidance in U.S. GAAP. While early adoption is permitted as of January 1, 2017, the Company intends to adopt these ASUs on January 1, 2018 using either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method, but expects to do so in the first half of 2017 upon completion of further analysis. Currently, the Company is in the process of reviewing its historical contracts to quantify the impact that the adoption of these standards will have on the identification of and accounting for performance obligations and on the recognition of costs related to obtaining customer contracts (namely sales commissions and marketing costs). The Company anticipates the adoption of these ASUs will impact the timing of recognition and classification in its consolidated financial statements of certain marketing costs it incurs to obtain sales contracts from its customers. For example, there are direct response advertising costs that the Company currently capitalizes and amortizes for certain printed materials associated with new customer solicitations. Under the new guidance, these costs may need to be expensed as incurred. The Company continues to evaluate the impact the update will have on its consolidated financial statements and related disclosures. On February 25, 2016, FASB issued ASU No. ASU 2016-02, Leases, which requires that lessees recognize assets and liabilities for leases with lease terms greater than twelve months in the balance sheet. The ASU also requires additional disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. The ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. Adoption of the standard will require a modified retrospective approach. The Company plans to adopt this ASU on January 1, 2019 and is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures. On March 30, 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. The guidance amends the accounting for stock-based compensation and requires excess tax benefits and deficiencies to be recognized as a component of income tax expense rather than equity. This guidance also requires excess tax benefits and deficiencies to be presented as an operating activity on the statement of cash flows and allows an entity to make an accounting policy election to either estimate expected forfeitures or to account for them as they occur. The Company expects to record the cumulative impact of applying this guidance directly to retained earnings, which it estimates to be in the range of $20 million to $30 million on January 1, 2017 upon adoption. The inclusion of excess tax benefits and deficiencies as a component of income tax expense will increase volatility within the Company’s provision for income taxes as the amount of excess tax benefits or deficiencies from stock-based compensation awards are dependent on the stock price at the date the awards vest. As a result, subsequent to adoption the Company's income tax expense and associated effective tax rate will be impacted by fluctuations in stock price between the grant dates and vesting dates of equity awards. Also, the elimination of applying an estimated forfeiture rate to non-cash stock-based compensation expense may also cause the timing of expense to be more volatile. On August 26, 2016, FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This ASU clarifies and provides guidance on eight specific cash flow classification issues that are not currently addressed by current GAAP thereby reducing current diversity in practice. Although early adoption is permitted, the Company plans to adopt the ASU on January 1, 2018 and is evaluating the impact that it will have on its consolidated financial statements. In October 24 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory, which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. The ASU will be effective for the Company in its first quarter of 2018, but the Company is considering early adopting the new standard in 2017. The cumulative impact of applying this guidance to retained earnings is estimated to be approximately $1.2 million.

Basis of Presentation and Pri18

Basis of Presentation and Principles of Consolidation (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [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 December 31, 2016 Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) (1) Significant Other Observable Inputs (Level 2) (2) Significant Other Unobservable Inputs (Level 3) (3) Total Fair Value Quoted Prices in Active Markets for Identical 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 $ - $ - $ 50,077 $ 50,077 $ - $ - 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	The Company did not have any customers that comprised 10% or more of the accounts receivable balance as of December 31, 2015 or 2016. Year Ended December 31, 2014 2015 Percentage of revenue: (1) Empower Retirement TM 11 % 9 % Aon Hewitt Financial Advisors, LLC 9 % 10 % (1) The Company did not have any customers that comprised 10% or more of total revenue for the year ended December 31, 2016.
Property and Equipment	Expenditures for maintenance and repairs are charged to expense as incurred. Estimated Useful Lives in Years Computer equipment 3 Computer software 2 Furniture, fixtures, and equipment 5 Leasehold improvements life of the lease Capital lease equipment life of the lease

Balance Sheet Items (Tables)

Balance Sheet Items (Tables)	12 Months Ended
	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Cash and Cash Equivalents	Cash and cash equivalents consist of the following: December 31, 2015 2016 (In thousands) Cash $ 34,063 $ 84,169 Money market fund 271,153 50,077 Total cash and cash equivalents $ 305,216 $ 134,246
Components of Property and Equipment	Property and equipment consist of the following: December 31, 2015 2016 (In thousands) Computer equipment $ 11,533 $ 13,220 Computer software 3,298 4,279 Furniture, fixtures and equipment 9,560 13,641 Leasehold improvements 14,589 20,083 Total property and equipment 38,980 51,223 Less: Accumulated depreciation (18,595 ) (26,691 ) Property and equipment, net $ 20,385 $ 24,532
Schedule of Goodwill	Goodwill as of December 31, 2015 and 2016 consisted of the following: (In thousands) Balance as of December 31, 2015 $ - The Mutual Fund Store acquisition 293,720 April 2016 franchise acquisitions 7,319 July and August 2016 franchise acquisitions 4,571 October 2016 franchise acquisitions 6,410 Balance as of December 31, 2016 (1) $ 312,020 (1) There is no accumulated impairment of goodwill for the periods presented. Adjustments to goodwill were immaterial for the year ended December 31, 2016.
Schedule of Intangible Assets	Intangible assets as of December 31, 2015 and 2016 consisted of the following: December 31, 2015 December 31, 2016 (In thousands) Useful Life (years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 14 - 19 $ - $ - $ - $ 164,338 $ 7,781 $ 156,557 Franchise agreements and reacquired franchisee rights <1 - 9 - - - 2,697 498 2,199 Favorable leases, net 6 - - - 140 22 118 Trademarks/Trade names 20 - - - 39,230 1,810 37,420 Internal use software 2 - 4 53,398 46,313 7,085 60,965 51,508 9,457 Total $ 53,398 $ 46,313 $ 7,085 $ 267,370 $ 61,619 $ 205,751
Schedule of Amortization Expense Related to Intangible Assets	Amortization expense related to intangible assets was as follows: Year Ended December 31, 2015 2016 (In thousands) Customer relationships $ - $ 7,781 Franchise agreements and reacquired franchisee rights - 498 Favorable leases, net - 22 Trademarks/Trade names - 1,810 Internal use software (1) 4,900 5,297 Amortization expense $ 4,900 $ 15,408 (1) For the year ended December 31, 2015 and 2016, internal use software amortization included approximately $0.3 million and $0.5 million of stock-based compensation expense, respectively.
Schedule of Estimated Future Amortization of Intangible Assets	The following table presents the estimated future amortization of intangible assets as of December 31, 2016: (In thousands) Years ending December 31: 2017 $ 15,873 2018 14,363 2019 12,387 2020 11,457 2021 11,124 Thereafter 140,547 $ 205,751
Accounts Payable	Accounts payable consists of the following: December 31, 2015 2016 (In thousands) Data connectivity fees payable $ 22,389 $ 28,731 Trade accounts payable 3,580 4,654 Other 964 3,395 Total accounts payable $ 26,933 $ 36,780
Components of Accrued Compensation	Accrued compensation consists of the following: December 31, 2015 2016 (In thousands) Accrued bonus $ 12,384 $ 20,028 Accrued vacation 3,513 4,099 Accrued variable compensation 279 1,316 Accrued payroll 766 1,465 Other 159 759 Total accrued compensation $ 17,101 $ 27,667
Components of Other Current Liabilities	Other current liabilities consist of the following: December 31, 2015 2016 (In thousands) Short term holdbacks and earnouts $ - $ 2,873 Other 1,169 1,470 Total other current liabilities $ 1,169 $ 4,343

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2016
Schedule of Purchase Price Consideration	(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 allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition, including 21 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 consistent with the expected realization of benefit for each asset. The table below represents the allocation of the total acquisition consideration to The Mutual Fund Store’s tangible and intangible assets and liabilities based on the Company’s estimate of their respective fair values: (In thousands) Assets acquired $ 48,117 Identifiable intangible assets 191,020 Goodwill 293,720 Liabilities assumed (19,838 ) 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 Favorable leases, net 140 6 Trademarks/Trade names 39,230 20 Total $ 191,020
Unaudited Pro forma Financial Information	Year Ended December 31, 2015 2016 (In thousands, except per share data) Revenue $ 411,191 $ 432,021 Net income (1) $ 38,795 $ 39,058 Net income per share: Basic $ 0.63 $ 0.63 Diluted $ 0.62 $ 0.62 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 table below represents the allocation of the aggregate acquisition consideration based on the Company’s 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 14 Reacquired franchisee rights 685 9 Total $ 6,527
Acquisition of Franchises July and August 2016 [Member]
Summary of Allocation of Acquisition Consideration to Tangible and Intangible Assets and Liabilities	The total acquisition consideration has been 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 franchisee rights. The intangible assets will be amortized based upon their estimated useful lives on a straight-lined basis consistent with the expected realization of benefit for each asset. The table below represents the allocation of the aggregate acquisition consideration based on the Company’s estimate of their respective fair values: (In thousands) Assets acquired $ 566 Identifiable intangible assets 3,050 Goodwill 4,571 Liabilities assumed (58 ) Total consideration $ 8,129
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 $ 2,508 14 Reacquired franchisee rights 542 8 Total $ 3,050
Acquisition of Franchises October 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 franchisee 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 $ 710 Identifiable intangible assets 5,808 Goodwill 6,410 Liabilities assumed (122 ) Total consideration $ 12,806
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 $ 4,688 14 Reacquired franchisee rights 1,120 9 Total $ 5,808

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Repurchases of Common Shares in Open Market	The Company repurchased shares of its common stock in the open market during the periods presented as follows: Number of Shares Average Repurchase Price Per Share Amount (In thousands) 2015: Third quarter 344,000 $ 32.43 $ 11,154 Second quarter 378,000 $ 42.29 $ 15,984 First quarter 275,000 $ 41.15 $ 11,317 2014: Fourth quarter 280,000 $ 32.79 $ 9,182 1,277,000 $ 47,637
Schedule of Common Stock Reserved for Issuance for Stock Options and Stock Purchase Plans	As of December 31, 2016, the Company has reserved the following shares of common stock for issuance in connection with: Stock options outstanding 5,457,093 Restricted stock units outstanding 1,597,321 Performance stock units outstanding 105,080 Stock awards available for grant 7,965,231 Total shares reserved 15,124,725
Summary of Option Activity under the 1998 Stock Plan and the 2009 Stock Incentive Plan	The following table summarizes option activity under the 1998 Stock Plan and the 2009 Stock Incentive Plan: Number of Options Weighted Average Exercise Price Weighted Average Remaining Term Aggregate Intrinsic Value Balance, January 1, 2014 3,918,890 18.79 Granted 1,645,477 37.29 Exercised (1,217,046 ) 10.48 Forfeited (198,323 ) 36.20 Balance, December 31, 2014 4,148,998 27.73 Granted 1,115,109 37.30 Exercised (546,511 ) 16.86 Forfeited (317,781 ) 39.63 Balance, December 31, 2015 4,399,815 $ 30.65 Granted 1,831,432 27.05 Exercised (404,208 ) 16.39 Forfeited (369,946 ) 36.96 Balance, December 31, 2016 5,457,093 $ 30.07 7.42 years $ 46,264,337 Vested and expected to vest, December 31, 2016 5,149,665 $ 30.06 7.33 years $ 44,058,365 Exercisable, December 31, 2016 2,495,383 $ 29.08 5.75 years $ 25,949,866
Schedule of Weighted Average Assumptions Used to Value Options Granted	The following weighted average assumptions were used to value options granted: 2014 2015 2016 Expected life in years 6 6 6 Risk-free interest rate 1.85% 1.72% 1.42% Volatility 36% 37% 43% Dividend yield 0.6% 0.8% 1.0%
Restricted Stock Units Activity	The following table summarizes RSU activity under the 2009 Stock Incentive Plan: Number of Shares Weighted Average Grant-Date Fair Value Weighted Average Remaining Term Aggregate Intrinsic Value Balance, January 1, 2014 562,638 $ 35.07 Granted 509,881 36.72 Vested and settled (1) (176,470 ) 31.89 Forfeited (51,327 ) 35.46 Balance, December 31, 2014 844,722 36.38 Granted 363,388 36.23 Vested and settled (1) (302,617 ) 34.90 Forfeited (90,676 ) 37.06 Balance, December 31, 2015 814,817 36.78 Granted 1,156,344 27.28 Vested and settled (1) (278,700 ) 36.15 Forfeited (95,140 ) 34.36 Balance, December 31, 2016 1,597,321 $ 30.16 1.71 years $ 58,701,547 Expected to vest, December 31, 2016 1,412,841 $ 30.22 1.63 years $ 51,921,920 (1) Vested and settled for the years ended December 31, 2014, 2015 and 2016 includes 60,461 shares, 100,337 shares and 104,109 shares, respectively, which were tendered in exchange for minimum tax withholdings.
Performance Stock Units Activity	The following table summarizes unvested PSU activity under the 2009 Stock Incentive Plan: Number of Shares Weighted Average Grant-Date Fair Value Weighted Average Remaining Term Aggregate Intrinsic Value Balance, January 1, 2014 414,300 $ 43.59 Granted 51,300 42.07 Vested and settled - - Forfeited (173,600 ) 43.59 Balance, December 31, 2014 292,000 43.32 Granted - - Vested and settled - - Forfeited - - Balance, December 31, 2015 292,000 43.32 Granted - - Vested and settled (38,797 ) 43.32 Forfeited (148,123 ) 43.27 Balance, December 31, 2016 105,080 $ 43.39 1.00 years $ 3,861,690 Expected to vest, December 31, 2016 97,619 $ 43.39 1.00 years $ 3,587,510
Schedule of Stock-Based Compensation by Functional Area	The following table summarizes the stock-based compensation by functional area: Year Ended December 31, 2014 2015 2016 (In thousands) Stock-based compensation: Cost of revenue $ 3,191 $ 4,501 $ 7,974 Research and development 4,378 5,631 6,012 Sales and marketing 5,823 7,643 9,610 General and administrative 6,013 7,918 9,604 Amortization of intangible assets 360 335 489 Total stock-based compensation $ 19,765 $ 26,028 $ 33,689

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 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 attributable to holders of common stock: Year Ended December 31, 2014 2015 2016 (In thousands, except per share data) Numerator (basic and diluted): Net income $ 36,952 $ 31,617 $ 28,560 Denominator (basic): Weighted average common shares outstanding 51,601 51,732 60,962 Denominator (diluted): Weighted average common shares outstanding 51,601 51,732 60,962 Dilutive stock options outstanding 1,384 903 602 Dilutive unvested restricted stock units 276 374 524 Dilutive unvested performance stock units 48 30 15 Net weighted average common shares outstanding 53,309 53,039 62,103 Net income per share attributable to holders of common stock: Basic $ 0.72 $ 0.61 $ 0.47 Diluted $ 0.69 $ 0.60 $ 0.46
Anti-dilutive Common Equivalent Shares	Diluted net income per share does not include the effect of the following anti-dilutive common equivalent shares: Year Ended December 31, 2014 2015 2016 (In thousands) Stock options outstanding 829 1,601 3,443 Restricted stock units outstanding 15 32 72 Performance stock units outstanding 1 - - Total anti-dilutive common equivalent shares 845 1,633 3,515

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Components of Provision for Income Tax Expense (Benefit)	The Company is subject to income taxes only in the United States. Provision for income tax expense consists of the following: Year Ended December 31, 2014 2015 2016 (In thousands) Current expense: Federal $ 11,957 $ 24,995 $ 19,580 State 4,822 598 2,244 Total current 16,779 25,593 21,824 Deferred expense: Federal 7,479 (7,968 ) (1,403 ) State (283 ) 239 291 Total deferred 7,196 (7,729 ) (1,112 ) Total provision for income taxes $ 23,975 $ 17,864 $ 20,712
Schedule of Difference Between Income Tax Expense (Benefit) and Federal Statutory Rate	The difference between income tax expense and the amount resulting from applying the federal statutory rate of 35% to net income is attributable to the following: Year Ended December 31, 2014 2015 2016 Federal tax at statutory rate 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 5.2 % 1.4 % 3.6 % Nondeductible expenses 0.1 % 0.2 % 0.4 % Stock-based compensation -0.5 % -0.2 % 0.2 % Research and development credit -0.4 % -0.3 % -0.3 % Change in valuation allowance -0.2 % 0.0 % 0.0 % Other 0.2 % 0.0 % 3.1 % Income tax expense 39.4 % 36.1 % 42.0 %
Components of Deferred Tax Assets and Liabilities	The components of the Company’s deferred tax assets and liabilities are as follows: December 31, 2015 2016 (In thousands) Deferred tax assets: Net operating loss carryforwards $ 655 $ 14,046 Tax credits 1,965 2,091 Deferred revenue 147 98 Stock-based compensation 16,944 23,763 Accrued expenses and reserves 10,075 15,017 Other temporary differences 1,003 - Total gross deferred tax assets 30,789 55,015 Valuation allowance — (162 ) Net deferred tax assets 30,789 54,853 Deferred tax liabilities Fixed assets and intangible amortization (9,009 ) (14,349 ) Total deferred tax liabilities (9,009 ) (14,349 ) Net deferred tax assets $ 21,780 $ 40,504
Reconciliation of Gross Unrecognized Tax Benefits	A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows: Year Ended December 31, 2015 2016 (In thousands) Balance, beginning of year $ 8,319 $ 6,657 Reductions for tax positions taken in the prior year (1,666 ) - Additions for tax positions taken in the prior year - - Additions for tax positions taken in the current year 4 15 Balance, end of year $ 6,657 $ 6,672

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Minimum Future Lease Payments under All Non-Cancelable Operating and Capital Leases	The following table summarizes the Company’s contractual obligations as of December 31, 2016. Certain of these contractual obligations are reflected on the Company’s Consolidated Balance Sheets while others are disclosed as future obligations under GAAP. Purchase obligations represent non-cancelable, long-term contracts primarily related to software and data services. Capital Lease Operating Leases Purchase Obligations (In thousands) Year ending December 31, 2017 $ 119 $ 9,656 $ 2,278 2018 118 9,621 1,388 2019 43 9,170 402 2020 - 6,766 - 2021 - 4,967 - Thereafter - 13,058 - Total minimum payments 280 $ 53,238 $ 4,068 Less: Amounts representing interest expense (14 ) Present value of net minimum lease payments 266 Less: Current obligations (110 ) Long-term obligations $ 156

Organization and Description 25

Organization and Description of the Business - Additional Information (Detail)	Dec. 31, 2016Store
Retail Site [Member]
Organization And Description Of The Business [Line Items]
Number of stores	130

Basis of Presentation and Pri26

Basis of Presentation and Principles of Consolidation - Additional Information (Detail)	1 Months Ended	2 Months Ended	12 Months Ended
	Jan. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)CustomerSegmentCliff	Dec. 31, 2015USD ($)Customer	Dec. 31, 2014USD ($)	Jan. 01, 2017USD ($)
Significant Accounting Policies [Line Items]
Proceeds from Sale of Short-term Investments	$ 39,923,000	$ 119,872,000	$ 39,923,000	$ 119,872,000
Short-term investments		$ 39,936,000		39,936,000
Goodwill impairment charge			0
Indefinite lived intangible assets			0
Impairments on acquired intangible assets			$ 0
Number of reportable segment | Segment			1
Average life of sponsor contracts, maximum, years			7 years
Direct response advertising costs amortization period, years			3 years
Capitalized direct response advertising costs			$ 3,500,000	4,400,000	$ 4,600,000
Advertising expense			19,900,000	8,200,000	6,900,000
Direct response advertising amortization			4,800,000	$ 5,500,000	$ 6,100,000
Accounting Standards Update 2016-16 [Member] | Retained Earnings [Member]
Significant Accounting Policies [Line Items]
Expected cumulative impact on retained earnings			$ 1,200,000
Performance Stock Units [Member]
Significant Accounting Policies [Line Items]
Number of vesting cliffs | Cliff			2
Performance Stock Units [Member] | Cliff vesting on January 1, 2016 [Member]
Significant Accounting Policies [Line Items]
Percentage of eligibility of stock vesting			60.00%
Performance Stock Units [Member] | Cliff vesting on January 1, 2018 [Member]
Significant Accounting Policies [Line Items]
Percentage of eligibility of stock vesting			40.00%
Minimum [Member]
Significant Accounting Policies [Line Items]
Finite-lived intangible assets, amortization period			1 year
Minimum [Member] | Accounting Standards Update 2016-09 [Member] | Retained Earnings [Member] | Subsequent Event [Member]
Significant Accounting Policies [Line Items]
Expected cumulative impact on retained earnings						$ 20,000,000
Minimum [Member] | Performance Stock Units [Member]
Significant Accounting Policies [Line Items]
Target vesting percentage			0.00%
Maximum [Member]
Significant Accounting Policies [Line Items]
Finite-lived intangible assets, amortization period			20 years
Maximum [Member] | Accounting Standards Update 2016-09 [Member] | Retained Earnings [Member] | Subsequent Event [Member]
Significant Accounting Policies [Line Items]
Expected cumulative impact on retained earnings						$ 30,000,000
Maximum [Member] | Performance Stock Units [Member]
Significant Accounting Policies [Line Items]
Target vesting percentage			140.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member]
Significant Accounting Policies [Line Items]
Concentration risk percentage, number of customers | Customer			0	0
Concentration risk percentage			10.00%	10.00%

Summary of Financial Assets Mea

Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands		Dec. 31, 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		$ 50,077	$ 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]	$ 50,077	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]	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Concentration Risk [Line Items]
Percentage of significant customer	10.00%
Empower Retirement TM [Member]
Concentration Risk [Line Items]
Percentage of significant customer		9.00%	11.00%
Aon Hewitt Financial Advisors L L C [Member]
Concentration Risk [Line Items]
Percentage of significant customer		10.00%	9.00%

Significant Customer Informat29

Significant Customer Information (Parenthetical) (Detail) - Revenue [Member] - Credit Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2016Customer
Concentration Risk [Line Items]
Concentration risk percentage, number of customers	0
Concentration risk percentage	10.00%

Estimated Useful Lives of Prope

Estimated Useful Lives of Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2016
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	3 years
Computer Software [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	2 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives in Years	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives, description	life of the lease
Capital lease equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives, description	life of the lease

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash And Cash Equivalents [Abstract]
Cash	$ 84,169	$ 34,063
Money market fund	50,077	271,153
Total cash and cash equivalents	$ 134,246	$ 305,216	$ 126,564	$ 126,003

Balance Sheet Items - Additiona

Balance Sheet Items - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		2 Months Ended	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Short-term investments			$ 39,936		$ 39,936
Proceeds from Sale of Short-term Investments		$ 39,923	119,872	$ 39,923	119,872
Depreciation and amortization expense				8,946	6,092	$ 4,930
Original costs			38,980	51,223	38,980
Accumulated depreciation on the leased assets			18,595	26,691	18,595
Subsequent Event [Member]
Property, Plant and Equipment [Line Items]
Paid time off program cash payments to employees	$ 3,900
Capital lease equipment [Member]
Property, Plant and Equipment [Line Items]
Original costs			700	700	700
Accumulated depreciation on the leased assets			$ 300	$ 400	$ 300

Components of Property and Equi

Components of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property Plant And Equipment [Abstract]
Computer equipment	$ 13,220	$ 11,533
Computer software	4,279	3,298
Furniture, fixtures and equipment	13,641	9,560
Leasehold improvements	20,083	14,589
Total property and equipment	51,223	38,980
Less: Accumulated depreciation	(26,691)	(18,595)
Property and equipment, net	$ 24,532	$ 20,385

Schedule of Goodwill (Detail)

Schedule of Goodwill (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Goodwill [Line Items]
Balance as of December 31, 2016	$ 312,020	[1]
The Mutual Fund Store [Member]
Goodwill [Line Items]
Goodwill acquisitions	293,720
April 2016 Franchise [Member]
Goodwill [Line Items]
Goodwill acquisitions	7,319
July and August 2016 Franchise Acquisitions [Member]
Goodwill [Line Items]
Goodwill acquisitions	4,571
October 2016 Franchise [Member]
Goodwill [Line Items]
Goodwill acquisitions	$ 6,410
[1]	There is no accumulated impairment of goodwill for the periods presented. Adjustments to goodwill were immaterial for the year ended December 31, 2016.

Schedule of Goodwill (Parenthet

Schedule of Goodwill (Parenthetical) (Detail)	Dec. 31, 2016USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Accumulated impairment of goodwill	$ 0

Schedule of Intangible Assets (

Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 267,370	$ 53,398
Accumulated Amortization	61,619	46,313
Net Carrying Amount	$ 205,751	7,085
Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	1 year
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	$ 164,338
Accumulated Amortization	7,781
Net Carrying Amount	$ 156,557
Customer Relationships [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	14 years
Customer Relationships [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	19 years
Franchisee Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,697
Accumulated Amortization	498
Net Carrying Amount	$ 2,199
Franchisee Agreements [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Useful Life (years)	1 year
Franchisee 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]
Gross Carrying Amount	$ 140
Accumulated Amortization	22
Net Carrying Amount	$ 118
Useful Life (years)	6 years
Trademarks/Trade Names [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 39,230
Accumulated Amortization	1,810
Net Carrying Amount	$ 37,420
Useful Life (years)	20 years
Internal Use Software [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 60,965	53,398
Accumulated Amortization	51,508	46,313
Net Carrying Amount	$ 9,457	$ 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)	4 years

Schedule of Amortization Expens

Schedule of Amortization Expense Related to Intangible Assets (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software		$ 15,408	$ 4,900	$ 5,974
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software		7,781
Franchise Agreements and Reacquired Franchisee Rights [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software		498
Favorable Leases, Net [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software		22
Trademarks/Trade Names [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software		1,810
Internal Use Software [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, including internal use software	[1]	$ 5,297	$ 4,900
[1]	For the year ended December 31, 2015 and 2016, internal use software amortization included approximately $0.3 million and $0.5 million of stock-based compensation expense, respectively.

Schedule of Amortization Expe38

Schedule of Amortization Expense Related to Intangible Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite Lived Intangible Assets [Line Items]
Total stock-based compensation	$ 33,689	$ 26,028	$ 19,765
Amortization of Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Total stock-based compensation	$ 489	$ 335	$ 360

Schedule of Estimated Future Am

Schedule of Estimated Future Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
2,017	$ 15,873
2,018	14,363
2,019	12,387
2,020	11,457
2,021	11,124
Thereafter	140,547
Net Carrying Amount	$ 205,751	$ 7,085

Accounts Payable (Detail)

Accounts Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Payables And Accruals [Abstract]
Data connectivity fees payable	$ 28,731	$ 22,389
Trade accounts payable	4,654	3,580
Other	3,395	964
Total accounts payable	$ 36,780	$ 26,933

Components of Accrued Compensat

Components of Accrued Compensation (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Employee Related Liabilities Current [Abstract]
Accrued bonus	$ 20,028	$ 12,384
Accrued vacation	4,099	3,513
Accrued variable compensation	1,316	279
Accrued payroll	1,465	766
Other	759	159
Total accrued compensation	$ 27,667	$ 17,101

Components of Other Current Lia

Components of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Other Liabilities Current [Abstract]
Short term holdbacks and earnouts	$ 2,873
Other	1,470	$ 1,169
Total other current liabilities	$ 4,343	$ 1,169

Business Combinations - Additio

Business Combinations - Additional Information (Detail) $ in Thousands		Jun. 30, 2016USD ($)	Feb. 01, 2016USD ($)Franchise	Oct. 31, 2016USD ($)Franchise	Apr. 30, 2016USD ($)Franchise	Aug. 31, 2016USD ($)Franchise	Dec. 31, 2016USD ($)	Dec. 31, 2016USD ($)Franchise	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Goodwill	[1]						$ 312,020	$ 312,020
Revenues, including acquired franchises								423,937	$ 310,722	$ 281,920
Aggregate cash consideration of acquisition franchises								2,189
Loss on reacquired franchisee rights								4,092
Write-off of notes receivable								$ 746	$ 938	$ 617
The Mutual Fund Store [Member]
Business Acquisition [Line Items]
Business acquisition, agreement date								Nov. 5, 2015
Number of franchised store agreements | Franchise			21
Goodwill			$ 293,720
Goodwill expected to be deductible for tax purposes			161,500
Revenues, including acquired franchises							$ 103,800
Aggregate cash consideration of acquisition franchises			246,001
The Mutual Fund Store [Member] | Executive [Member]
Business Acquisition [Line Items]
Existing compensation arrangement			5,800
The Mutual Fund Store [Member] | Executive [Member] | Cliff vesting on January 1, 2016 [Member]
Business Acquisition [Line Items]
Existing compensation arrangement			$ 2,900
Percentage of compensation payment			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
Remaining percentage of compensation payment			50.00%
The Mutual Fund Store [Member] | General and Administrative [Member]
Business Acquisition [Line Items]
Acquisition-related costs								$ 6,200
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]
Goodwill					$ 7,319
Goodwill expected to be deductible for tax purposes					7,300
Aggregate cash consideration of acquisition franchises					$ 14,400
Business acquisition, agreement date								2016-04
Number of franchises acquisition | Franchise					7
Holdback amounts reserved with respect to indemnification claims					$ 800
Acquisition of Franchises April 2016 [Member] | General and Administrative [Member]
Business Acquisition [Line Items]
Acquisition-related costs								$ 100
Acquisition of Franchises July and August 2016 [Member]
Business Acquisition [Line Items]
Goodwill						$ 4,571
Goodwill expected to be deductible for tax purposes						4,600
Aggregate cash consideration of acquisition franchises						$ 8,100		$ 12,200
Number of franchises acquisition | Franchise						6		2
Holdback amounts reserved with respect to indemnification claims						$ 300
Loss on reacquired franchisee rights								$ 4,100
Acquisition of Franchises July and August 2016 [Member] | Notes Receivable [Member]
Business Acquisition [Line Items]
Write-off of notes receivable		$ 200
Acquisition of Franchises July and August 2016 [Member] | General and Administrative [Member]
Business Acquisition [Line Items]
Acquisition-related costs								$ 100
Acquisition of Franchises October 2016 [Member]
Business Acquisition [Line Items]
Goodwill				$ 6,410
Aggregate cash consideration of acquisition franchises				$ 12,800
Business acquisition, agreement date								2016-10
Number of franchises acquisition | Franchise				8
Holdback amounts reserved with respect to indemnification claims				$ 600
Acquisition of Franchises October 2016 [Member] | General and Administrative [Member]
Business Acquisition [Line Items]
Acquisition-related costs								$ 200
[1]	There is no accumulated impairment of goodwill for the periods presented. Adjustments to goodwill were immaterial for the year ended December 31, 2016.

Schedule of Purchase Price Cons

Schedule of Purchase Price Consideration (Detail) - USD ($) $ / shares in Units, $ in Thousands	Feb. 01, 2016	Dec. 31, 2016
Business Acquisition Contingent Consideration [Line Items]
Cash consideration		$ 2,189
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		Dec. 31, 2016	Oct. 31, 2016	Aug. 31, 2016	Apr. 30, 2016	Feb. 01, 2016
Business Acquisition [Line Items]
Goodwill	[1]	$ 312,020
The Mutual Fund Store [Member]
Business Acquisition [Line Items]
Assets acquired						$ 48,117
Identifiable intangible assets						191,020
Goodwill						293,720
Liabilities assumed						(19,838)
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
Acquisition of Franchises July and August 2016 [Member]
Business Acquisition [Line Items]
Assets acquired				$ 566
Identifiable intangible assets				3,050
Goodwill				4,571
Liabilities assumed				(58)
Total consideration				$ 8,129
Acquisition of Franchises October 2016 [Member]
Business Acquisition [Line Items]
Assets acquired			$ 710
Identifiable intangible assets			5,808
Goodwill			6,410
Liabilities assumed			(122)
Total consideration			$ 12,806
[1]	There is no accumulated impairment of goodwill for the periods presented. Adjustments to goodwill were immaterial for the year ended December 31, 2016.

Summary of Intangible Assets Ac

Summary of Intangible Assets Acquired and Useful Lives (Detail) - USD ($) $ in Thousands	Feb. 01, 2016	Oct. 31, 2016	Apr. 30, 2016	Aug. 31, 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			14 years
Acquisition of Franchises April 2016 [Member] | Franchisee Agreements [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value			$ 685
Weighted Average Life in Years			9 years
Acquisition of Franchises July and August 2016 [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value				$ 3,050
Acquisition of Franchises July and August 2016 [Member] | Customer Relationships [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value				$ 2,508
Weighted Average Life in Years				14 years
Acquisition of Franchises July and August 2016 [Member] | Franchisee Agreements [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value				$ 542
Weighted Average Life in Years				8 years
Acquisition of Franchises October 2016 [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value		$ 5,808
Acquisition of Franchises October 2016 [Member] | Customer Relationships [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value		$ 4,688
Weighted Average Life in Years		14 years
Acquisition of Franchises October 2016 [Member] | Franchisee Agreements [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value		$ 1,120
Weighted Average Life in Years		9 years

Unaudited Pro forma Financial I

Unaudited Pro forma Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Business Combinations [Abstract]
Revenue		$ 432,021	$ 411,191
Net income	[1]	$ 39,058	$ 38,795
Net income per share:
Basic		$ 0.63	$ 0.63
Diluted		$ 0.62	$ 0.62
[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.

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	Feb. 14, 2017$ / shares	Feb. 29, 2016shares	Apr. 30, 2010shares	Dec. 31, 2016USD ($)Event$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / shares	Nov. 05, 2014USD ($)
Stockholders Equity [Line Items]
Common stock, shares authorized | shares				500,000,000	500,000,000
Common stock, shares issued | shares				63,475,821	52,972,000
Common stock, shares outstanding | shares				62,198,821	51,695,000
Dividends declared per share of common stock | $ / shares				$ 0.28	$ 0.28	$ 0.24
Dividend payable				$ 4,350,000	$ 3,615,000	$ 3,113,000
Dividends paid date				2017-01
Share repurchase program, utilized amount				$ 47,637,000	47,637,000
Stock repurchase program, expiration date				Nov. 4, 2015
Number of shares reserved for future grant | shares				15,124,725
Recognized income tax benefit on stock-based compensation				$ 13,400,000	10,500,000	8,400,000
Stock-based compensation modification expense						700,000
Reversal of stock-based compensation expenses on unvested shares						1,200,000
Stock Options Outstanding [Member]
Stockholders Equity [Line Items]
Number of shares reserved for future grant | shares				5,457,093
Restricted Stock Units (RSUs) [Member]
Stockholders Equity [Line Items]
Number of shares reserved for future grant | shares				1,597,321
Fair value of common stock | $ / shares				$ 36.75
Unrecognized compensation cost				$ 23,900,000
Weighted average recognition period of unrecognized compensation cost, years				1 year 8 months 12 days
Intrinsic value of unvested stock units				$ 58,700,000
Intrinsic value of RSU vested				9,000,000	10,800,000	6,000,000
Total fair value of shares vested				$ 10,100,000	10,600,000	5,600,000
Performance Stock Units [Member]
Stockholders Equity [Line Items]
Number of shares reserved for future grant | shares				105,080
Fair value of common stock | $ / shares				$ 36.75
Unrecognized compensation cost				$ 300,000
Weighted average recognition period of unrecognized compensation cost, years				1 year
Reversal of stock-based compensation expense						1,200,000
Performance Stock Units [Member] | Executive [Member]
Stockholders Equity [Line Items]
Shares issued | shares		38,797
Performance Stock Units [Member] | Cliff vesting on January 1, 2016 [Member]
Stockholders Equity [Line Items]
Vesting percentage				60.00%
Performance Stock Units [Member] | Cliff vesting on January 1, 2018 [Member]
Stockholders Equity [Line Items]
Vesting percentage				40.00%
Stock Option Plan Nineteen Ninety Eight [Member]
Stockholders Equity [Line Items]
Common stock shares reserved for future issuance | shares			535,155
Stock purchase rights expiration period, days			30 days
Stock purchase rights				Stock purchase rights have a 30-day expiration period and options expire no later than 10 years from the date of grant.
Options maximum exercise period upon termination, months			3 months
Stock Incentive Plan 2009 [Member]
Stockholders Equity [Line Items]
Common stock shares reserved for future issuance | shares				6,624,339
Options expiration period				10 years
Options maximum exercise period upon termination, months				3 months
Options granted vesting description				Options granted will generally vest over a period of four years with 25% vesting on the first anniversary of the grant date and 1/48 vesting per month thereafter.
RSU vesting period				4 years
RSU granted vesting percentage				25.00%
Number of stock vesting cliffs | Event				2
Grants provide for partial acceleration in event of involuntary termination, period				12 months
Shares subject to repurchase | shares				0
2009 Stock Incentive Plan expiration Month and Year				2026-03
Stock Incentive Plan 2009 [Member] | Executive [Member]
Stockholders Equity [Line Items]
Accelerated vesting percentage		100.00%
Stock Incentive Plan 2009 [Member] | First Anniversary Of Grant Date [Member]
Stockholders Equity [Line Items]
Vesting percentage				25.00%
Stock Incentive Plan 2009 [Member] | Vesting Month After First Anniversary [Member]
Stockholders Equity [Line Items]
Vesting percentage				2.0833%
Stock Incentive Plan 2009 [Member] | Cliff vesting on January 1, 2016 [Member]
Stockholders Equity [Line Items]
Vesting percentage				60.00%
Eligibility of stock vesting date				Jan. 1, 2016
Stock Incentive Plan 2009 [Member] | Cliff vesting on January 1, 2018 [Member]
Stockholders Equity [Line Items]
Vesting percentage				40.00%
Eligibility of stock vesting date				Jan. 1, 2018
Stock Incentive Plan 2009 [Member] | Stock Options Outstanding [Member]
Stockholders Equity [Line Items]
Options vesting period				4 years
Stock Awards Available For Grant [Member]
Stockholders Equity [Line Items]
Number of shares reserved for future grant | shares				7,965,231
Stock Option Plans [Member]
Stockholders Equity [Line Items]
Fair value of common stock | $ / shares				$ 36.75
Intrinsic value of options exercised				$ 6,200,000	$ 12,900,000	$ 44,000,000
Weighted average fair value per share of options granted | $ / shares				$ 10.35	$ 13.17	$ 13.24
Cash received from employees for stock option exercises				$ 6,600,000	$ 9,200,000	$ 12,800,000
Total fair value of shares vested				11,200,000	$ 11,200,000	$ 6,500,000
Unrecognized compensation cost				$ 13,700,000
Weighted average recognition period of unrecognized compensation cost, years				1 year 2 months 12 days
Maximum [Member] | Stock Option Plan Nineteen Ninety Eight [Member]
Stockholders Equity [Line Items]
Options expiration period			10 years
Maximum [Member] | Stock Incentive Plan 2009 [Member]
Stockholders Equity [Line Items]
Vesting percentage				140.00%
Minimum [Member] | Stock Incentive Plan 2009 [Member]
Stockholders Equity [Line Items]
Vesting percentage				0.00%
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	Apr. 5, 2017
Dividend payable record date	Mar. 22, 2017
Quarterly Cash Dividend [Member]
Stockholders Equity [Line Items]
Dividends declared per share of common stock | $ / shares				$ 0.28
Quarterly Cash Dividend [Member] | Subsequent Event [Member]
Stockholders Equity [Line Items]
Dividends declared per share of common stock | $ / shares	$ 0.07

Repurchases of Common Shares in

Repurchases of Common Shares in Open Market (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares Repurchased	344,000	378,000	275,000	280,000		1,277,000
Average Repurchase Price Per Share	$ 32.43	$ 42.29	$ 41.15	$ 32.79
Repurchases of Common Stock	$ 11,154	$ 15,984	$ 11,317	$ 9,182	$ 38,455	$ 47,637	$ 9,182

Shares of Common Stock Reserved

Shares of Common Stock Reserved for Issuance (Detail)	Dec. 31, 2016shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares reserved	15,124,725
Stock Options Outstanding [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares reserved	5,457,093
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares reserved	1,597,321
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares reserved	105,080
Stock Awards Available For Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares reserved	7,965,231

Summary of Stock Option Activit

Summary of Stock Option Activity (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Options, Beginning Balance	4,399,815	4,148,998	3,918,890
Number of Options Granted	1,831,432	1,115,109	1,645,477
Number of Options Exercised	(404,208)	(546,511)	(1,217,046)
Number of Options Forfeited	(369,946)	(317,781)	(198,323)
Number of Options, Ending Balance	5,457,093	4,399,815	4,148,998
Number of Options Vested and expected to vest	5,149,665
Number of Options, Exercisable	2,495,383
Options Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 30.65	$ 27.73	$ 18.79
Options Granted, Weighted Average Exercise Price	27.05	37.30	37.29
Options Exercised, Weighted Average Exercise Price	16.39	16.86	10.48
Options Forfeited, Weighted Average Exercise Price	36.96	39.63	36.20
Options Outstanding, Weighted Average Exercise Price, Ending Balance	30.07	$ 30.65	$ 27.73
Option Vested and expected to vest, Weighted Average Exercise Price	30.06
Option Exercisable, Weighted Average Exercisable Price	$ 29.08
Options Outstanding, Weighted Average Remaining Term	7 years 5 months 1 day
Options Vested and expected to vest, Weighted Average Remaining Term	7 years 3 months 29 days
Options Exercisable, Weighted Average Remaining Term	5 years 9 months
Options Outstanding, Aggregate Intrinsic Value	$ 46,264,337
Options Vested and expected to vest, Aggregate Intrinsic Value	44,058,365
Options Exercisable, Aggregate Intrinsic Value	$ 25,949,866

Weighted Average Assumptions To

Weighted Average Assumptions To Value Options Granted (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected life in years	6 years	6 years	6 years
Risk-free interest rate	1.42%	1.72%	1.85%
Volatility	43.00%	37.00%	36.00%
Dividend yield	1.00%	0.80%	0.60%

Summary of Restricted Stock Uni

Summary of Restricted Stock Units Activity (Detail) - Restricted Stock Units (RSUs) [Member] - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Beginning balance		814,817	844,722	562,638
Number of Shares, Granted		1,156,344	363,388	509,881
Number of Shares, Vested and settled	[1]	(278,700)	(302,617)	(176,470)
Number of Shares, Forfeited		(95,140)	(90,676)	(51,327)
Number of Shares, Ending balance		1,597,321	814,817	844,722
Number of Shares, Expected to vest		1,412,841
Weighted Average Grant-Date Fair Value, Beginning balance		$ 36.78	$ 36.38	$ 35.07
Weighted Average Grant-Date Fair Value, Granted		27.28	36.23	36.72
Weighted Average Grant-Date Fair Value, Vested and settled	[1]	36.15	34.90	31.89
Weighted Average Grant-Date Fair Value, Forfeited		34.36	37.06	35.46
Weighted Average Grant-Date Fair Value, Ending Balance		30.16	$ 36.78	$ 36.38
Weighted Average Grant-Date Fair Value, Expected to vest		$ 30.22
Weighted Average Remaining Term, Balance		1 year 8 months 16 days
Weighted Average Remaining Term, Expected to vest		1 year 7 months 17 days
Aggregate Intrinsic Value, Balance		$ 58,701,547
Aggregate Intrinsic Value, Expected to vest		$ 51,921,920
[1]	Vested and settled for the years ended December 31, 2014, 2015 and 2016 includes 60,461 shares, 100,337 shares and 104,109 shares, respectively, which were tendered in exchange for minimum tax withholdings.

Summary of Restricted Stock U54

Summary of Restricted Stock Units Activity (Parenthetical) (Detail) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Paid for Tax Withholding for Share Based Compensation	104,109	100,337	60,461

Summary of Performance Stock Un

Summary of Performance Stock Unit Information (Detail) - Performance Stock Units [Member] - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Beginning balance	292,000	292,000	414,300
Number of Shares, Granted			51,300
Number of Shares, Vested and settled	(38,797)
Number of Shares, Forfeited	(148,123)		(173,600)
Number of Shares, Ending balance	105,080	292,000	292,000
Number of Shares, Expected to vest	97,619
Weighted Average Grant-Date Fair Value, Beginning balance	$ 43.32	$ 43.32	$ 43.59
Weighted Average Grant-Date Fair Value, Granted			42.07
Weighted Average Grant-Date Fair Value, Vested and settled	43.32
Weighted Average Grant-Date Fair Value, Forfeited	43.27		43.59
Weighted Average Grant-Date Fair Value, Ending Balance	43.39	$ 43.32	$ 43.32
Weighted Average Grant-Date Fair Value, Expected to vest	$ 43.39
Weighted Average Remaining Term, Balance	1 year
Weighted Average Remaining Term, Expected to vest	1 year
Aggregate Intrinsic Value, Balance	$ 3,861,690
Aggregate Intrinsic Value, Expected to vest	$ 3,587,510

Stock-Based Compensation by Fun

Stock-Based Compensation by Functional Area (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 33,689	$ 26,028	$ 19,765
Cost of Revenue [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	7,974	4,501	3,191
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	6,012	5,631	4,378
Sales and Marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	9,610	7,643	5,823
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	9,604	7,918	6,013
Amortization of Intangible Assets [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 489	$ 335	$ 360

Computation of Basic and Dilute

Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator (basic and diluted):
Net income	$ 28,560	$ 31,617	$ 36,952
Denominator (basic):
Weighted average common shares outstanding	60,962	51,732	51,601
Denominator (diluted):
Weighted average common shares outstanding	60,962	51,732	51,601
Net weighted average common shares outstanding (diluted)	62,103	53,039	53,309
Net income per share attributable to holders of common stock:
Basic	$ 0.47	$ 0.61	$ 0.72
Diluted	$ 0.46	$ 0.60	$ 0.69
Stock Options Outstanding [Member]
Denominator (diluted):
Incremental common shares included in the diluted EPS calculation	602	903	1,384
Restricted Stock Units (RSUs) [Member]
Denominator (diluted):
Incremental common shares included in the diluted EPS calculation	524	374	276
Performance Stock Units [Member]
Denominator (diluted):
Incremental common shares included in the diluted EPS calculation	15	30	48

Anti-dilutive Common Equivalent

Anti-dilutive Common Equivalent Shares (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common equivalent shares	3,515	1,633	845
Stock Options Outstanding [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common equivalent shares	3,443	1,601	829
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common equivalent shares	72	32	15
Performance Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common equivalent shares			1

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

Provision for Income Tax Expens

Provision for Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Current expense, Federal	$ 19,580	$ 24,995	$ 11,957
Current expense, State	2,244	598	4,822
Total current	21,824	25,593	16,779
Deferred expense, Federal	(1,403)	(7,968)	7,479
Deferred expense, State	291	239	(283)
Total deferred	(1,112)	(7,729)	7,196
Total provision for income taxes	$ 20,712	$ 17,864	$ 23,975

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Federal statutory tax rate	35.00%	35.00%	35.00%
Federal related deferred tax assets	$ 31.4
State related net deferred tax assets	9.1
Unrecognized tax benefits that would affect the effective tax rate if recognized	$ 5.1
Federal Research Credit [Member]
Income Taxes [Line Items]
Federal research credit carryforwards expire	expire through 2036
State of California [Member]
Income Taxes [Line Items]
Future pre-tax income needed to realize the deferred tax assets	$ 171.4
Net operating loss carryforwards	77.2
Research credit carryforwards	8.3
State of California [Member] | Excess Stock Based Compensation [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	19.1
Research credit carryforwards	0.6
Internal Revenue Service (IRS) [Member]
Income Taxes [Line Items]
Future pre-tax income needed to realize the deferred tax assets	89.8
Net operating loss carryforwards	$ 83.1
Net operating loss carryforwards expire through	2,036
Research credit carryforwards	$ 5.5
Internal Revenue Service (IRS) [Member] | Excess Stock Based Compensation [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	47.4
Research credit carryforwards	5.5
Additional paid-in capital [Member]
Income Taxes [Line Items]
Income tax associated with stock-based compensation	$ 18.4	$ 25.1	$ 12.8

Difference Between Income Tax E

Difference Between Income Tax Expense and Amount Resulting From Applying Federal Statutory Rate (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Federal tax at statutory rate	35.00%	35.00%	35.00%
State taxes, net of federal benefit	3.60%	1.40%	5.20%
Nondeductible expenses	0.40%	0.20%	0.10%
Stock-based compensation	0.20%	(0.20%)	(0.50%)
Research and development credit	(0.30%)	(0.30%)	(0.40%)
Change in valuation allowance	0.00%	0.00%	(0.20%)
Other	3.10%	0.00%	0.20%
Income tax expense	42.00%	36.10%	39.40%

Components of Company's Deferre

Components of Company's Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 14,046	$ 655
Tax credits	2,091	1,965
Deferred revenue	98	147
Stock-based compensation	23,763	16,944
Accrued expenses and reserves	15,017	10,075
Other temporary differences		1,003
Total gross deferred tax assets	55,015	30,789
Valuation allowance	(162)
Net deferred tax assets	54,853	30,789
Fixed assets and intangible amortization	(14,349)	(9,009)
Total deferred tax liabilities	(14,349)	(9,009)
Net deferred tax assets	$ 40,504	$ 21,780

Reconciliation Of Unrecognized

Reconciliation Of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Balance, beginning of year	$ 6,657	$ 8,319
Reductions for tax positions taken in the prior year		(1,666)
Additions for tax positions taken in the current year	15	4
Balance, end of year	$ 6,672	$ 6,657

Savings Plan - Additional Infor

Savings Plan - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation And Retirement Disclosure [Abstract]
Percentage of defined benefit plan of employees contribution under statutory limit	75.00%
Percentage of defined benefit plan of employees contribution under statutory limit	100.00%	100.00%	50.00%
Percentage of employee contribution of their pre-tax salaries	4.00%	4.00%	3.00%
Defined benefit plan employee contribution	$ 3.7	$ 2.3	$ 1.5

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Feb. 01, 2016USD ($)	Feb. 29, 2016ft²	Jun. 30, 2015USD ($)ft²	Dec. 31, 2016USD ($)StoreState	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Commitments and Contingencies [Line Items]
Accrued rent				$ 13.6	$ 10.5
Operating leases, rent expense				$ 8.3	3.9	$ 4
Capital leases terminate				The Company entered into various office equipment capital leases which terminate in between April 2019 and August 2019.
Number of states in which operating leases acquired | State				35
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.
Retail Site [Member]
Commitments and Contingencies [Line Items]
Lease expiration month and year				2027-07
Number of acquired advisor center location | Store				130
Phoenix Arizona [Member]
Commitments and Contingencies [Line Items]
Lease expiration month and year			2021-12
Additional square feet of office space added to lease amendment | ft²			10,953
Tenant improvement allowance			$ 0.4
Receivable related to tenant improvement allowance					$ 0.4
Overland Park, Kansas [Member]
Commitments and Contingencies [Line Items]
Lease expiration month and year	2027-03
Tenant improvement allowance	$ 1.8
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
Maximum [Member]
Commitments and Contingencies [Line Items]
Service level commitments impact on operating				$ 1
Office Equipment Capital Leases [Member] | Minimum [Member]
Commitments and Contingencies [Line Items]
Lease expiration month and year				2019-04
Office Equipment Capital Leases [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Lease expiration month and year				2019-08

Minimum Future Lease Payments u

Minimum Future Lease Payments under All Non-Cancelable Operating and Capital Leases (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Capital Lease
2,017	$ 119
2,018	118
2,019	43
Total minimum payments	280
Less: Amounts representing interest expense	(14)
Present value of net minimum lease payments	266
Less: Current obligations	(110)
Long-term obligations	156
Operating Lease
2,017	9,656
2,018	9,621
2,019	9,170
2,020	6,766
2,021	4,967
Thereafter	13,058
Total minimum payments	53,238
Purchase Obligation
2,017	2,278
2,018	1,388
2,019	402
Total minimum payments	$ 4,068