Manning & Napier (MN) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 03, 2016
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	MN
Entity Registrant Name	Manning & Napier, Inc.
Entity Central Index Key	1,524,223
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Class A common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		15,032,880
Class B common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		1,000

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 126,970	$ 117,591
Accounts receivable	15,016	15,807
Accounts receivable—Manning & Napier Fund, Inc.	7,356	8,473
Due from broker	0	3,962
Due from broker - consolidated funds	0	3,510
Investment securities	19,983	21,460
Investment securities - consolidated funds	981	1,107
Prepaid expenses and other assets	4,260	4,638
Total current assets	174,566	176,548
Property and equipment, net	5,972	6,299
Net deferred tax assets, non-current	45,755	46,649
Other long-term assets	1,242	1,300
Total assets	227,535	230,796
Liabilities
Accounts payable	1,036	1,141
Accrued expenses and other liabilities	28,000	42,480
Deferred revenue	11,066	10,938
Total current liabilities	40,102	54,559
Other long-term liabilities	2,651	2,796
Amounts payable under tax receivable agreement, non-current	38,679	38,661
Total liabilities	$ 81,432	96,016
Commitments and contingencies (Note 9)
Shareholders’ equity
Additional paid-in capital	$ 205,974	205,760
Retained deficit	(37,080)	(37,149)
Accumulated other comprehensive income	0	(3)
Total shareholders’ equity	169,041	168,756
Noncontrolling interests	(22,938)	(33,976)
Total shareholders’ equity and noncontrolling interests	146,103	134,780
Total liabilities, shareholders’ equity and noncontrolling interests	227,535	230,796
Class A common stock
Shareholders’ equity
Common stock	147	148
Class B common stock
Shareholders’ equity
Common stock	$ 0	$ 0

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Class A common stock
Common stock, par value (dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	300,000,000	300,000,000
Common stock, shares issued (shares)	14,735,130	14,755,130
Common stock, shares outstanding (shares)	14,735,130	14,755,130
Class B common stock
Common stock, par value (dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	2,000	2,000
Common stock, shares issued (shares)	1,000	1,000
Common stock, shares outstanding (shares)	1,000	1,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Investment management services revenue	$ 64,538	$ 90,426
Expenses
Compensation and related costs	21,967	26,818
Distribution, servicing and custody expenses	11,338	16,832
Other operating costs	8,453	8,942
Total operating expenses	41,758	52,592
Operating income	22,780	37,834
Non-operating income (loss)
Interest expense	(106)	(3)
Interest and dividend income	136	163
Change in liability under tax receivable agreement	(18)	(17)
Net gains (losses) on investments	1,066	613
Total non-operating income (loss)	1,078	756
Income before provision for income taxes	23,858	38,590
Provision for income taxes	1,674	2,479
Net income attributable to controlling and noncontrolling interests	22,184	36,111
Less: net income attributable to noncontrolling interests	19,766	32,802
Net income attributable to Manning & Napier, Inc.	$ 2,418	$ 3,309
Net income per share available to Class A common stock
Basic (in dollars per share)	$ 0.16	$ 0.24
Diluted (in dollars per share)	$ 0.16	$ 0.24
Weighted average shares of Class A common stock outstanding
Basic (in shares)	13,745,130	13,713,540
Diluted (in shares)	14,084,903	13,914,908
Cash dividends declared per share of Class A common stock	$ 0.16	$ 0.16

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income attributable to controlling and noncontrolling interests	$ 22,184	$ 36,111
Net unrealized holding gain (loss) on investment securities, net of tax	3	(1)
Comprehensive income	22,187	36,110
Less: Comprehensive income attributable to noncontrolling interests	19,769	32,801
Comprehensive income attributable to Manning & Napier, Inc.	$ 2,418	$ 3,309

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - USD ($) $ in Thousands	Total	Common StockClass A common stock	Common StockClass B common stock	Additional Paid in Capital	Retained Deficit	Accumulated Other Comprehensive Income (Loss)	Non Controlling Interest
Beginning balance at Dec. 31, 2014	$ 148,711	$ 137	$ 0	$ 209,284	$ (41,087)	$ 0	$ (19,623)
Beginning balance, Shares at Dec. 31, 2014		13,713,540	1,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	36,111				3,309		32,802
Distributions to noncontrolling interests	(26,787)						(26,787)
Net changes in unrealized investment securities gains or losses	(1)					(1)
Equity-based compensation	587			85			502
Dividends declared on Class A common stock - $0.16 and $0.16 per share in March 31, 2016 and March 31, 2015	(2,194)				(2,194)
Purchase of Class A units of Manning & Napier Group, LLC held by noncontrolling interests	(37,720)			(4,394)			(33,326)
Ending balance at Mar. 31, 2015	118,707	$ 137	$ 0	204,975	(39,972)	(1)	(46,432)
Ending balance, Shares at Mar. 31, 2015		13,713,540	1,000
Beginning balance at Dec. 31, 2015	134,780	$ 148	$ 0	205,760	(37,149)	(3)	(33,976)
Beginning balance, Shares at Dec. 31, 2015		14,755,130	1,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,184				2,418		19,766
Distributions to noncontrolling interests	(9,798)						(9,798)
Net changes in unrealized investment securities gains or losses	3					3
Common stock issued under equity compensation plan, Shares		(20,000)
Common stock issued under equity compensation plan	(1)	$ (1)
Equity-based compensation	1,284			214			1,070
Dividends declared on Class A common stock - $0.16 and $0.16 per share in March 31, 2016 and March 31, 2015	(2,349)				(2,349)
Ending balance at Mar. 31, 2016	$ 146,103	$ 147	$ 0	$ 205,974	$ (37,080)	$ 0	$ (22,938)
Ending balance, Shares at Mar. 31, 2016		14,735,130	1,000

Consolidated Statement of Shar7

Consolidated Statement of Shareholders' Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash dividends declared per share of Class A common stock	$ 0.16	$ 0.16
Class A common stock
Cash dividends declared per share of Class A common stock	$ 0.16	$ 0.16

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 22,184	$ 36,111
Adjustment to reconcile net income to net cash provided by operating activities:
Equity-based compensation	1,284	587
Depreciation and amortization	508	642
Change in amounts payable under tax receivable agreement	18	17
Net gains on investment securities	(1,066)	(613)
Deferred income taxes	893	720
Amortization of debt issuance costs	39	0
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:
Accounts receivable	791	1,815
Accounts receivable—Manning & Napier Fund, Inc.	1,117	2,334
Due from broker - consolidated funds	3,795	(5,000)
Prepaid expenses and other assets	350	1,387
Accounts payable	(105)	(1,245)
Accrued expenses and other liabilities	(14,448)	(16,856)
Deferred revenue	128	683
Other long-term liabilities	(108)	(71)
Net cash provided by operating activities	15,380	20,511
Cash flows from investing activities:
Purchase of property and equipment	(120)	(374)
Sale of investments	3,541	3,765
Purchase of investments	(1,222)	(1,998)
Due from broker	(4,019)	0
Net cash provided by investing activities	6,218	1,393
Cash flows from financing activities:
Distributions to noncontrolling interests	(9,798)	(26,787)
Dividends paid on Class A common stock	(2,361)	(3,291)
Payment of shares withheld to satisfy withholding requirements	0	(64)
Payment of capital lease obligations	(60)	(51)
Purchase of Class A units of Manning & Napier Group, LLC	0	(36,326)
Net cash used in financing activities	(12,219)	(66,519)
Net increase (decrease) in cash and cash equivalents	9,379	(44,615)
Cash and cash equivalents:
Beginning of period	117,591	124,992
End of period	$ 126,970	$ 80,377

Organization and Nature of the

Organization and Nature of the Business	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of the Business	Organization and Nature of the Business Manning & Napier, Inc. ("Manning & Napier", or the "Company") provides a broad range of investment solutions through separately managed accounts, mutual funds, and collective investment trusts, as well as a variety of consultative services that complement its investment process. Founded in 1970, the Company offers equity, fixed income and alternative strategies, as well as a range of blended asset portfolios, such as life cycle funds. Headquartered in Fairport, New York, the Company serves a diversified client base of high net worth individuals and institutions, including 401(k) plans, pension plans, Taft-Hartley plans, endowments and foundations. The Company is the sole managing member of Manning & Napier Group, LLC and its subsidiaries ("Manning & Napier Group"), a holding company for the investment management businesses conducted by its operating subsidiaries. The diagram below depicts the Company's organization structure as of March 31, 2016 . (1) The operating subsidiaries of Manning & Napier Group include Manning & Napier Advisors, LLC ("MNA"), Manning & Napier Alternative Opportunities, LLC, Perspective Partners LLC, Manning & Napier Information Services, LLC, Manning & Napier Benefits, LLC, Manning & Napier Investor Services, Inc. and Exeter Trust Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Critical Accounting Policies There have been no significant changes in our critical accounting policies and estimates from those that were disclosed in our Annual Report on Form 10-K for the year ended December 31, 2015 . The Company believes that the disclosures herein are adequate so that the information presented is not misleading; however, these financial statements should be read in conjunction with the financial statements and the notes thereto in our Annual Report on Form 10-K for the year ended December 31, 2015 . The financial data for the interim periods may not necessarily be indicative of results for future interim periods or for the full year. Basis of Presentation The accompanying unaudited consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and related rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial reporting and include all adjustments, consisting only of normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the results for the interim period. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates or assumptions that affect the reported amounts and disclosures in the consolidated financial statements. Actual results could differ from these estimates or assumptions. Principles of Consolidation As of March 31, 2016 , Manning & Napier holds an economic interest of approximately 16.7% in Manning & Napier Group but, as managing member, controls all of the business and affairs of Manning & Napier Group. As a result, the Company consolidates the financial results of Manning & Napier Group and records a noncontrolling interest on its consolidated statements of financial condition with respect to the remaining economic interest in Manning & Napier Group held by Manning & Napier Group Holdings, LLC (“M&N Group Holdings”) and Manning & Napier Capital Company, LLC (“MNCC”). All material intercompany transactions have been eliminated in consolidation. In accordance with Accounting Standards Codification ("ASU") 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis , the determination of whether a company is required to consolidate an entity is based on, among other things, an entity’s purpose and design, a company’s ability to direct the activities of the entity that most significantly impact the entity’s economic performance, and whether a company is obligated to absorb losses or receive benefits that could potentially be significant to the entity. The standard also requires ongoing assessments of whether a company is the primary beneficiary of a variable interest entity (“VIE”). The Company provides seed capital to its investment teams to develop new products and services for its clients. The original seed investment may represent all or a majority of the equity investment in the new product. Pursuant to U.S. GAAP, the Company evaluates its seed investments on a regular basis and consolidates such investments for which it holds a controlling financial interest. The Company serves as the investment adviser for Manning & Napier Fund, Inc. series of mutual funds (the “Fund”) and the Exeter Trust Company Collective Investment Trusts (“CIT”). The Fund and CIT are legal entities, the business and affairs of which are managed by their respective boards of directors. As a result, each of these entities is a voting interest entity (“VOE”). The Company holds, in limited cases, direct investments in a fund (which are made on the same terms as are available to other investors) and consolidates each of these entities where it has a controlling financial interest or a majority voting interest. The Company is the General Partner of the MN Xenon Managed Futures Fund LP ("LP Fund"). The Company has determined that the LP Fund is not a VIE as (a) the entity has enough equity to finance its activities without additional financial support and (b) the limited partners, as a group, have the ability to remove the general partner ("kick-out rights") with a majority vote of partnership percentage. Under the voting interest model, the Company does not consolidate VOEs in which the presumption of control by the general partner is overcome by kick-out rights. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Cash and cash equivalents are primarily held in operating accounts at major financial institutions and also in money market securities. Cash equivalents are stated at cost, which approximates market value due to the short-term maturity of these investments. The fair value of cash equivalents have been classified as Level 1 in accordance with the fair value hierarchy. Investment Securities Investment securities are classified as either trading or available-for-sale and are carried at fair value. Fair value is determined based on quoted market prices in active markets for identical or similar instruments. Investment securities classified as trading consist of equity securities, fixed income securities, and investments in mutual funds and hedge funds for which the Company provides advisory services. Realized and unrealized gains and losses on trading securities are recorded in net gains (losses) on investments in the consolidated statements of operations. At March 31, 2016 , trading securities consist solely of investments held by the Company to provide initial cash seeding for product development purposes. Operating Segments The Company operates in one segment, the investment management industry. The Company primarily provides investment management services to separately managed accounts, mutual funds and collective investment trust funds. Management assesses the financial performance of these vehicles on a combined basis. Revenue The majority of the Company’s revenues are based on fees charged to manage customers’ portfolios. Investment management fees are generally computed as a percentage of assets under management ("AUM") and recognized as earned. Fees for providing investment advisory services are computed and billed in accordance with the provisions of the applicable investment management agreements. For the Company’s separately managed accounts, clients either pay investment management fees in advance, typically for a semi-annual or quarterly period, or in arrears, typically for a monthly or quarterly period. When investment management fees are paid in advance, the Company defers the revenue and recognizes it over the applicable period. When investment management fees are paid in arrears, the Company estimates revenues based on AUM market values as of the most recent month end date, and adjusts to actual when billed. For mutual funds and collective investment trust vehicles, the Company’s fees are calculated and earned daily based on AUM. The Company has agreements with third parties who provide distribution and administrative services for its mutual funds, collective investment trusts and certain separately managed accounts. Third party agreements are evaluated against Financial Accounting Standards Board ("FASB") ASC 605-45 Revenue Recognition - Principal Agent Considerations to determine whether revenue should be reported gross or net of payments to third-party service providers. In management's judgment there are various indicators that support gross revenue reporting, the most notable being the Company acts as primary obligor and therefore principal service provider. Based on this evaluation, investment management service revenue is recorded gross of distribution and administrative fees paid to third parties. Advisory Agreements The Company derives significant revenue from its role as advisor to the Fund and the CIT. The Company's investments in the Fund amounted to approximately $1.3 million as of March 31, 2016 and $1.2 million as of December 31, 2015 . Fees earned for advisory related services provided to the Fund and CIT investment vehicles were approximately $28.1 million and $45.2 million for the three months ended March 31, 2016 and 2015 , respectively. These amounts represent greater than 10% of the Company's revenue in each respective period. Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which supersedes existing accounting standards for revenue recognition and creates a single framework. The new guidance will be effective on January 1, 2018 and requires either a retrospective or a modified retrospective approach to adoption. Early application is permitted. The Company is currently evaluating its transition method and the potential impact on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which requires all equity investments to be measured at fair value with changes in the fair value recognized through net income. ASU 2016-01 will be effective on January 1, 2018 and will result in a cumulative-effect adjustment to the balance sheet upon adoption. The Company is currently evaluating the impact that ASU 2016-01 will have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which is intended to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). The new guidance will be effective for fiscal years beginning after December 15, 2018, with earlier application permitted. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company is currently evaluating the impact that ASU 2016-02 will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718), which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. Early application is permitted. The Company is currently evaluating the impact that ASU 2016-09 will have on its consolidated financial statements.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Manning & Napier holds an economic interest of approximately 16.7% in Manning & Napier Group, but as managing member controls all of the business and affairs of Manning & Napier Group. As a result, the Company consolidates the financial results of Manning & Napier Group and records a noncontrolling interest on its consolidated statement of financial condition with respect to the remaining approximately 83.3% aggregate economic interest in Manning & Napier Group held by M&N Group Holdings and MNCC. Net income attributable to noncontrolling interests on the statements of operations represents the portion of earnings attributable to the economic interest in Manning & Napier Group held by the noncontrolling interests. The following provides a reconciliation from “Income before provision for income taxes” to “Net income attributable to Manning & Napier, Inc.”: Three months ended March 31, 2016 2015 (in thousands) Income before provision for income taxes $ 23,858 $ 38,590 Less: loss before provision for income taxes of Manning & Napier, Inc. (a) (17 ) (18 ) Income before provision for income taxes, as adjusted 23,875 38,608 Controlling interest percentage (b) 16.7 % 14.5 % Net income attributable to controlling interest 3,979 5,614 Plus: loss before provision for income taxes of Manning & Napier, Inc. (a) (17 ) (18 ) Income before income taxes attributable to Manning & Napier, Inc. 3,962 5,596 Less: provision for income taxes of Manning & Napier, Inc. (c) 1,544 2,287 Net income attributable to Manning & Napier, Inc. $ 2,418 $ 3,309 ________________________ a) Manning & Napier, Inc. incurs certain gains or expenses that are only attributable to it and are therefore excluded from the net income attributable to noncontrolling interests. b) Income before provision for income taxes is allocated to the controlling interest based on the percentage of units of Manning & Napier Group held by Manning & Napier, Inc. The amount represents the Company's weighted ownership of Manning & Napier Group for the respective periods. c) The consolidated provision for income taxes is equal to the sum of (i) the provision for income taxes for entities other than Manning & Napier, Inc. and (ii) the provision for income taxes of Manning & Napier, Inc. which includes all U.S. federal and state income taxes. The consolidated provision for income taxes was $1.7 million and $2.5 million for the three months ended March 31, 2016 and 2015 , respectively. A total of 67,896,484 units of Manning & Napier Group are held by the noncontrolling interests as of March 31, 2016 . Pursuant to the terms of the exchange agreement entered into at the time of the Company's initial public offering, such units may be exchangeable for shares of the Company's Class A common stock. For any units exchanged, the Company will (i) pay an amount of cash equal to the number of units exchanged multiplied by the value of one share of the Company's Class A common stock less a market discount and expected expenses, or, at the Company's election, (ii) issue shares of the Company's Class A common stock on a one-for-one basis, subject to customary adjustments. As the Company receives units of Manning & Napier Group that are exchanged, the Company's ownership of Manning & Napier Group will increase. Approximately 34.6 million Class A units of Manning & Napier Group are eligible for exchange in fiscal 2016, of which approximately 31.1 million are held by William Manning. In the event that William Manning maximizes his participation, the amount eligible would increase to approximately 35.5 million to allow for other owners to participate in a similar proportion. At March 31, 2016 and December 31, 2015 , the Company had recorded a liability of $42.0 million and $41.9 million , respectively, representing the estimated payments due to the selling unit holders under the tax receivable agreement ("TRA") entered into between Manning & Napier and the holders of Manning & Group. Of these amounts, $3.3 million were included in accrued expenses and other liabilities at March 31, 2016 and December 31, 2015 . The Company made no payments pursuant to the TRA during the three months ended March 31, 2016 and 2015 . Obligations pursuant to the TRA are obligations of Manning & Napier. They do not impact the noncontrolling interests. These obligations are not income tax obligations. Furthermore, the TRA has no impact on the allocation of the provision for income taxes to the Company’s net income.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2016
Investments [Abstract]
Investment Securities	Investment Securities The following represents the Company’s investment securities holdings as of March 31, 2016 and December 31, 2015 : March 31, 2016 Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Available-for-sale securities U.S. Treasury notes (0.35%, 10/31/2016) $ 2,105 $ — $ (3 ) $ 2,102 Trading securities Equity securities 7,044 Fixed income securities 7,864 Mutual funds 273 Mutual funds - consolidated funds 981 Hedge funds 2,700 18,862 Total investment securities $ 20,964 December 31, 2015 Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Available-for-sale securities U.S. Treasury notes (0.35%, 10/31/2016) $ 2,105 $ — $ (6 ) $ 2,099 Trading securities Equity securities 8,967 Fixed income securities 7,624 Mutual funds 116 Mutual funds - consolidated funds 1,107 Hedge funds 2,654 20,468 Total investment securities $ 22,567 Investment securities are classified as either trading or available-for-sale and are carried at fair value. Fair value is determined based on quoted market prices in active markets for identical or similar instruments. Investment securities classified as trading consist of equity securities, fixed income securities and investments in mutual funds and hedge funds for which the Company provides advisory services. At March 31, 2016 and December 31, 2015 , trading securities consist solely of investments held by the Company to provide initial cash seeding for product development purposes. The Company recognized approximately $ 1.0 million and $ 0.2 million of net unrealized gains related to investments classified as trading during the three months ended March 31, 2016 and 2015 , respectively. Investment securities classified as available-for-sale consist of U.S. Treasury notes for compliance with certain regulatory requirements. As of March 31, 2016 and December 31, 2015 , $0.6 million of these securities was considered restricted. The Company periodically reviews each individual security position that has an unrealized loss, or impairment, to determine if that impairment is other-than-temporary. No other-than-temporary impairment charges have been recognized by the Company during the three months ended March 31, 2016 and 2015 .

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company enters into futures contracts for product development purposes. Futures are commitments either to purchase or sell a designated financial instrument, currency, commodity or an index at a specified future date for a specified price and may be settled in cash or another financial asset. Upon entering into a futures contract, the Company is required to pledge to the broker an amount of cash, which is reported in due from broker within the consolidated statements of financial condition. Futures contracts have little credit risk because the counterparties are futures exchanges. The Company does not hold any derivatives in a formal hedge relationship under ASC 815-10, Derivatives and Hedging. As of March 31, 2016 , the Company had no open futures contracts. The following table presents the notional value and fair value as of December 31, 2015 for derivative instruments not designated as hedging instruments: December 31, 2015 Fair Value Notional Value Asset Derivative Liability Derivative (in thousands) Interest rate futures $ 124,470 $ 169 $ (112 ) Index futures 3,715 57 (47 ) Commodity futures 2,440 27 (30 ) Currency futures 6,921 35 (43 ) Total derivatives $ 137,546 $ 288 $ (232 ) As of December 31, 2015 , the derivative assets and liabilities were included in due from broker in the consolidated statements of financial condition. Derivative activity concluded on February 4, 2016 with a year to date average volume of derivative activity (measured in terms of notional value) of approximately $127.8 million . The average notional volume of derivative activity for the three months ended March 31, 2015 was approximately $199.9 million . The following table presents the gains (losses) recognized in net gains (losses) on investments in the consolidated statements of operations for the three months ended March 31, 2016 and 2015 : Three months ended March 31, 2016 2015 (in thousands) Interest rate futures $ 494 $ 118 Index futures (37 ) 71 Commodity futures (13 ) 20 Currency futures (102 ) 294 Gains (losses) recognized, net $ 342 $ 503 The Company discloses information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position in accordance with ASU 2011-11, Disclosures about Offsetting Assets and Liabilities . The derivatives instruments are subject to a master netting agreement allowing for the netting of assets and liabilities on the consolidated statements of financial position. The following table presents the offsetting of managed futures as of March 31, 2016 and December 31, 2015 : Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets (Liabilities) Presented in the Statement of Financial Position Financial Instruments Cash Collateral Received (Pledged) Net Amount (in thousands) March 31, 2016 $ — $ — $ — $ — $ — $ — December 31, 2015 $ (232 ) $ 288 $ 56 $ — $ — $ 56

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that the Company would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A fair value hierarchy is provided that gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The following three-tier fair value hierarchy prioritizes the inputs used in measuring fair value: • Level 1—observable inputs such as quoted prices in active markets for identical securities; • Level 2—other significant observable inputs (including but not limited to quoted prices for similar securities, interest rates, prepayment rates, credit risk, etc.); and • Level 3—significant unobservable inputs (including the Company’s own assumptions in determining the fair value of investments). The following provides the hierarchy of inputs used to derive the fair value of the Company’s financial instruments as of March 31, 2016 and December 31, 2015 : March 31, 2016 Level 1 Level 2 Level 3 Totals (in thousands) Equity securities $ 7,044 $ — $ — $ 7,044 Fixed income securities 1,086 6,778 — 7,864 Mutual funds 273 — — 273 Mutual funds - consolidated funds 981 — — 981 U.S. Treasury notes — 2,102 — 2,102 Total assets at fair value $ 9,384 $ 8,880 $ — $ 18,264 December 31, 2015 Level 1 Level 2 Level 3 Totals (in thousands) Equity securities $ 8,967 $ — $ — $ 8,967 Fixed income securities 1,008 6,616 — 7,624 Mutual funds 116 — — 116 Mutual funds - consolidated funds 1,107 — — 1,107 U.S. Treasury notes — 2,099 — 2,099 Derivatives 288 — — 288 Total assets at fair value $ 11,486 $ 8,715 $ — $ 20,201 Derivatives 232 — — 232 Total liabilities at fair value $ 232 $ — $ — $ 232 Valuations of investments in fixed income securities and U.S. Treasury notes can generally be obtained through independent pricing services. For most bond types, the pricing service utilizes matrix pricing, which considers one or more of the following factors: yield or price of bonds of comparable quality, coupon, maturity, current cash flows, type and current day trade information, as well as dealer supplied prices. These valuations are categorized as Level 2 in the hierarchy. Certain hedge fund investments that are measured at fair value using the net asset value per share have not been categorized in the fair value hierarchy. The net asset values have been derived from the fair values of underlying futures contracts as of the respective reporting dates. As of March 31, 2016 and December 31, 2015 the fair value of these investments were $2.7 million . There were no Level 3 securities held by the Company at March 31, 2016 or December 31, 2015 . The Company’s policy is to recognize transfers in and transfers out of the valuation levels as of the beginning of the reporting period. There were no transfers between Levels during the three months ended March 31, 2016 .

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	3 Months Ended
	Mar. 31, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities as of March 31, 2016 and December 31, 2015 consisted of the following: March 31, 2016 December 31, 2015 (in thousands) Accrued bonus and sales commissions $ 11,688 $ 22,584 Accrued payroll and benefits 2,298 2,844 Accrued sub-transfer agent fees 4,749 6,148 Dividends payable 2,358 2,361 Amounts payable under tax receivable agreement 3,278 3,278 Other accruals and liabilities 3,629 5,265 $ 28,000 $ 42,480

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Borrowings	Borrowings Revolving Credit Facility On April 23, 2015, Manning & Napier, Inc., Manning & Napier Group and MNA (collectively, the "Borrowers") entered into an unsecured revolving credit agreement (the "Credit Agreement") with Wells Fargo Bank, National Association, as administrative agent, lender, swingline lender and issuing bank, Manufacturers and Traders Trust Company, as syndication agent and lender, and First Niagara Bank, The Bank of New York Mellon, and The Huntington National Bank, as lenders (collectively, the "Lenders") that has a four -year term (until April 23, 2019) and provides borrowing capacity of up to $100.0 million , with a feature providing for an increase in the line to $150.0 million on approval by the Lenders. The Credit Agreement also provides for a $5.0 million sub-limit for the issuance of standby letters of credit and a $5.0 million swingline facility. At March 31, 2016 , there were no amounts outstanding under the Credit Agreement and the Company had the capacity to draw on the entire $100.0 million under the Credit Agreement. Amounts outstanding under the Credit Agreement bear interest at an annual rate equal to, at the Company's option, either LIBOR (adjusted for reserves and not below 0.0% ) for interest periods of one, two, three or six months or a base rate (as defined in the Credit Agreement), plus, in each case, an applicable margin. The applicable margins range from 1.50% to 2.50% in the case of LIBOR-based loans, and 0.50% to 1.50% in the case of base rate loans. Under the terms of the Credit Agreement, the Company is also required to pay certain fees, including among other things a one-time initial commitment fee, and a quarterly fee based on the average unused amount of the facility ranging from 0.25% to 0.45% . The Credit Agreement contains customary covenants, including covenants that restrict (subject in certain instances to minimum thresholds or exceptions) the ability of the Company and certain of its subsidiaries to incur additional indebtedness, create liens, merge, dispose of assets, and make distributions, dividends, investments or capital expenditures, among other things. In addition, the Credit Agreement contains certain financial covenants, including: (i) a minimum interest coverage ratio (generally, adjusted EBITDA to interest expense as defined in and for the period specified in the Credit Agreement) of at least 4.00 :1.00 and (ii) a leverage ratio (generally, total debt as of any date to adjusted EBITDA as defined in and for the period specified in the Credit Agreement) of no greater than 2.75 :1.00. For purposes of the Credit Agreement, adjusted EBITDA generally means, for any period, net income of the Company before interest expense, income taxes, depreciation and amortization expense, non-cash stock-based compensation expense, and certain non-cash nonrecurring gains and losses as described in and specified under the Credit Agreement. At March 31, 2016 , the Company was in compliance with all financial covenants under the Credit Agreement. The Credit Agreement also contains customary provisions regarding events of default which could result in an acceleration of amounts due under the facility. Such events of default include the Company's failure to pay principal or interest when due, the Company's failure to satisfy or comply with covenants and a change of control.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company may from time to time enter into agreements that contain certain representations and warranties and which provide general indemnifications. The Company may also serve as a guarantor of such obligations of one or more of the Manning & Napier Group entities. The Company’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. The Company expects any risk of liability associated with such guarantees to be remote. Regulation As an investment adviser to a variety of investment products, the Company and its affiliated broker-dealer are subject to routine reviews and inspections by the SEC, Financial Industry Regulatory Authority, Inc., National Futures Association and U.S. Commodity Futures Trading Commission. From time to time, the Company may also be subject to claims, be involved in various legal proceedings arising in the ordinary course of its business and be subject to other contingencies. The Company does not believe that the outcome of any of these reviews, inspections or other legal proceedings will have a material impact on its consolidated financial statements; however, litigation is subject to many uncertainties, and the outcome of individual litigated matters is difficult to predict. The Company will establish accruals for matters that are probable, can be reasonably estimated, and may take into account any related insurance recoveries to the extent of such recoveries. As of March 31, 2016 and December 31, 2015 , the Company has not accrued for any such claims, legal proceedings, or other contingencies.

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share Basic earnings per share (“basic EPS”) is computed using the two-class method to determine net income available to Class A common stock. The two-class method includes an earnings allocation formula that determines earnings per share for each participating security according to dividends declared and undistributed earnings for the period. The Company's restricted Class A common shares granted under the 2011 Equity Compensation Plan (the "Equity Plan") have non-forfeitable dividend rights during their vesting period and are therefore considered participating securities under the two-class method. Under the two-class method, the Company's net income available to Class A common stock is reduced by the amount allocated to the unvested restricted Class A common stock. Basic EPS is calculated by dividing net income available to Class A common stock by the weighted average number of common shares outstanding during the period. Diluted earnings per share (“diluted EPS”) is computed under the more dilutive of either the treasury method or the two-class method. For the diluted calculation, the weighted average number of common shares outstanding during the period is increased by the assumed conversion into Class A common stock of the unvested equity awards and the exchangeable units of Manning & Napier Group, to the extent that such conversion would dilute earnings per share. The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the three months ended March 31, 2016 and 2015 under the two-class method: Three months ended March 31, 2016 2015 (in thousands, except share data) Net income attributable to controlling and noncontrolling interests $ 22,184 $ 36,111 Less: net income attributable to noncontrolling interests 19,766 32,802 Net income attributable to Manning & Napier, Inc. $ 2,418 $ 3,309 Less: allocation to participating securities 162 — Net income available to Class A common stock $ 2,256 $ 3,309 Weighted average shares of Class A common stock outstanding - basic 13,745,130 13,713,540 Dilutive effect from unvested equity awards 339,773 201,368 Weighted average shares of Class A common stock outstanding - diluted 14,084,903 13,914,908 Net income available to Class A common stock per share - basic $ 0.16 $ 0.24 Net income available to Class A common stock per share - diluted $ 0.16 $ 0.24 The Company’s Class B common stock represent voting interests and do not participate in the earnings of the Company. Accordingly, there is no basic or diluted EPS related to the Company’s Class B common stock. For the three months ended March 31, 2016 , 990,000 unvested restricted Class A common shares and 20,000 restricted stock units were excluded from the calculation of diluted earnings per common share because the effect would have been anti-dilutive. For the three months ended March 31, 2016 and 2015, 120,919 and 181,378 , respectively, restricted stock units with performance conditions were excluded from the calculation of diluted earnings per common share because the performance conditions had not yet been satisfied. At March 31, 2016 and 2015 there were 67,896,484 Class A Units of Manning & Napier Group outstanding which, subject to certain restrictions, may be exchangeable for up to an equivalent number of the Company's Class A common stock. These units were not included in the calculation of diluted earnings per common share for the three months ended March 31, 2016 and 2015 because the effect would have been anti-dilutive.

Equity Based Compensation

Equity Based Compensation	3 Months Ended
	Mar. 31, 2016
Share-based Compensation [Abstract]
Equity Based Compensation	Equity Based Compensation The Equity Plan was adopted by the Company's board of directors and approved by the Company's stockholders prior to the consummation of the IPO. A total of 13,142,813 equity interests are authorized for issuance. The equity interests may be issued in the form of the Company's Class A common stock, restricted stock units, units of Manning & Napier Group, or certain classes of membership interests in the Company which may convert into units of Manning & Napier Group. The following table summarizes the equity award activity for the three months ended March 31, 2016 under the Company's Equity Plan: Restricted Stock Awards Weighted Average Grant Date Fair Value Stock awards outstanding at January 1, 2016 2,031,629 $ 12.92 Granted — $ — Vested — $ — Forfeited (30,115 ) $ 13.06 Stock awards outstanding at March 31, 2016 2,001,514 $ 12.91 For the three months ended March 31, 2016 and 2015 , the Company recorded approximately $1.3 million and $0.6 million , respectively, of compensation expense related to awards under the Equity Plan. As of March 31, 2016 , there was unrecognized compensation expense related to Equity Plan awards of approximately $14.8 million , which the Company expects to recognize over a weighted average period of approximately 3.9 years.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is comprised of entities that have elected to be treated as either a limited liability company ("LLC") or a “C-Corporation". As such, the entities functioning as LLC’s are not liable for or able to benefit from U.S. federal and most state income taxes on their earnings, and earnings (losses) will be included in the personal income tax returns of each entity’s unit holders. The entities functioning as C-Corporations are liable for or able to benefit from U.S. federal and state and local income taxes on their earnings and losses, respectively. The Company’s income tax provision and effective tax rate were as follows: Three months ended March 31, 2016 2015 (in thousands) Earnings from continuing operations before income taxes $ 23,858 $ 38,590 Effective tax rate 7.0 % 6.4 % Provision for income taxes 1,674 2,479 Provision for income taxes 35% 8,350 13,507 Difference between tax at effective vs. statutory rate $ (6,676 ) $ (11,028 ) For the three months ended March 31, 2016 and 2015 , the difference between the Company’s recorded provision and the provision that would result from applying the U.S. statutory rate of 35% is primarily attributable to the benefit resulting from the fact that a significant portion of the Company’s operations include a series of flow-through entities which are generally not subject to federal and most state income taxes. Accordingly, a portion of the Company’s earnings are not subject to corporate level taxes.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Transactions with noncontrolling members From time to time, the Company may be asked to provide certain services, including accounting, legal and other administrative functions for the noncontrolling members of Manning & Napier Group. While immaterial, the Company has not received any reimbursement for such services. The Company manages the personal funds of certain of the Company's executive officers, including William Manning. Pursuant to the respective investment management agreements, in some instances the Company waives or reduces its regular advisory fees for these accounts and personal funds utilized to incubate products. The aggregate value of the fees earned and fees waived was less than $0.1 million for the three months ended March 31, 2016 . Affiliate transactions - Manning & Napier Fund, Inc. The Company has agreements to serve as the investment manager of Manning & Napier Fund, Inc., with which certain of its officers are affiliated. Under the terms of these agreements, which are generally reviewed and continued by the board of directors of Manning & Napier Fund, Inc. annually, the Company receives a fee based on an annual percentage of the average daily net assets of each series within the Manning & Napier Fund, Inc. The Company has contractually agreed to limit its fees and reimburse expenses to limit operating expenses incurred by certain of Manning & Napier Fund, Inc. series.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Distributions and dividends On April 26, 2016 , the Board of Directors approved a distribution from Manning & Napier Group to Manning & Napier and the noncontrolling interests of Manning & Napier Group. The amount of the distribution to the members of Manning & Napier Group is approximately $12.5 million , of which approximately $10.4 million is expected to be payable to the noncontrolling interests. Concurrently, the Board of Directors declared a $0.16 per share dividend to the holders of Class A common stock. The dividend is payable on or about August 1, 2016 to shareholders of record as of July 15, 2016 . Exchange of Class A units of Manning & Napier Group Pursuant to the terms of the exchange agreement entered into at the time of the Company's initial public offering, M&N Group Holdings and MNCC exchanged a total of 2,111,913 Class A units of Manning & Napier Group on April 27, 2016 for approximately $16.1 million in cash. Subsequent to the exchange, the Class A units were retired. Acquisition of Rainier Investment Management, LLC On April 30, 2016, the Company acquired a majority interest in Rainier Investment Management, LLC ("Rainier”), an active investment management firm. Rainier specializes in capitalization-based U.S. and non-U.S. equity strategies and fixed income products, is headquartered in Seattle, Washington, and had approximately $3.0 billion in assets under management at the closing of the transaction. Under the terms of the transaction, the Company acquired a 75% ownership interest in Rainier, with the remaining 25% ownership maintained by key professionals at Rainier. The consideration transferred includes an upfront cash payment on the transaction closing date of approximately $13.0 million from cash on hand, with additional payments of up to $32.5 million over a four year period, which are contingent upon Rainier’s achievement of certain annual financial targets. The Company will account for the transaction as a business combination and apply the acquisition method under generally accepted accounting principles. Due to the limited time since the transaction closing date, an initial allocation of the purchase price based upon the respective fair values of the assets acquired and liabilities assumed as part of the transaction, including the fair value of the contingent consideration liability, is not practicable as of the issuance date of these financial statements.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Critical Accounting Policies	Critical Accounting Policies There have been no significant changes in our critical accounting policies and estimates from those that were disclosed in our Annual Report on Form 10-K for the year ended December 31, 2015 . The Company believes that the disclosures herein are adequate so that the information presented is not misleading; however, these financial statements should be read in conjunction with the financial statements and the notes thereto in our Annual Report on Form 10-K for the year ended December 31, 2015 . The financial data for the interim periods may not necessarily be indicative of results for future interim periods or for the full year.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and related rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial reporting and include all adjustments, consisting only of normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the results for the interim period. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates or assumptions that affect the reported amounts and disclosures in the consolidated financial statements. Actual results could differ from these estimates or assumptions.
Principles of Consolidation	Principles of Consolidation As of March 31, 2016 , Manning & Napier holds an economic interest of approximately 16.7% in Manning & Napier Group but, as managing member, controls all of the business and affairs of Manning & Napier Group. As a result, the Company consolidates the financial results of Manning & Napier Group and records a noncontrolling interest on its consolidated statements of financial condition with respect to the remaining economic interest in Manning & Napier Group held by Manning & Napier Group Holdings, LLC (“M&N Group Holdings”) and Manning & Napier Capital Company, LLC (“MNCC”). All material intercompany transactions have been eliminated in consolidation. In accordance with Accounting Standards Codification ("ASU") 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis , the determination of whether a company is required to consolidate an entity is based on, among other things, an entity’s purpose and design, a company’s ability to direct the activities of the entity that most significantly impact the entity’s economic performance, and whether a company is obligated to absorb losses or receive benefits that could potentially be significant to the entity. The standard also requires ongoing assessments of whether a company is the primary beneficiary of a variable interest entity (“VIE”). The Company provides seed capital to its investment teams to develop new products and services for its clients. The original seed investment may represent all or a majority of the equity investment in the new product. Pursuant to U.S. GAAP, the Company evaluates its seed investments on a regular basis and consolidates such investments for which it holds a controlling financial interest. The Company serves as the investment adviser for Manning & Napier Fund, Inc. series of mutual funds (the “Fund”) and the Exeter Trust Company Collective Investment Trusts (“CIT”). The Fund and CIT are legal entities, the business and affairs of which are managed by their respective boards of directors. As a result, each of these entities is a voting interest entity (“VOE”). The Company holds, in limited cases, direct investments in a fund (which are made on the same terms as are available to other investors) and consolidates each of these entities where it has a controlling financial interest or a majority voting interest. The Company is the General Partner of the MN Xenon Managed Futures Fund LP ("LP Fund"). The Company has determined that the LP Fund is not a VIE as (a) the entity has enough equity to finance its activities without additional financial support and (b) the limited partners, as a group, have the ability to remove the general partner ("kick-out rights") with a majority vote of partnership percentage. Under the voting interest model, the Company does not consolidate VOEs in which the presumption of control by the general partner is overcome by kick-out rights.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Cash and cash equivalents are primarily held in operating accounts at major financial institutions and also in money market securities. Cash equivalents are stated at cost, which approximates market value due to the short-term maturity of these investments. The fair value of cash equivalents have been classified as Level 1 in accordance with the fair value hierarchy.
Investment Securities	Investment Securities Investment securities are classified as either trading or available-for-sale and are carried at fair value. Fair value is determined based on quoted market prices in active markets for identical or similar instruments. Investment securities classified as trading consist of equity securities, fixed income securities, and investments in mutual funds and hedge funds for which the Company provides advisory services. Realized and unrealized gains and losses on trading securities are recorded in net gains (losses) on investments in the consolidated statements of operations. At March 31, 2016 , trading securities consist solely of investments held by the Company to provide initial cash seeding for product development purposes.
Operating Segments	Operating Segments The Company operates in one segment, the investment management industry. The Company primarily provides investment management services to separately managed accounts, mutual funds and collective investment trust funds. Management assesses the financial performance of these vehicles on a combined basis.
Revenue	Revenue The majority of the Company’s revenues are based on fees charged to manage customers’ portfolios. Investment management fees are generally computed as a percentage of assets under management ("AUM") and recognized as earned. Fees for providing investment advisory services are computed and billed in accordance with the provisions of the applicable investment management agreements. For the Company’s separately managed accounts, clients either pay investment management fees in advance, typically for a semi-annual or quarterly period, or in arrears, typically for a monthly or quarterly period. When investment management fees are paid in advance, the Company defers the revenue and recognizes it over the applicable period. When investment management fees are paid in arrears, the Company estimates revenues based on AUM market values as of the most recent month end date, and adjusts to actual when billed. For mutual funds and collective investment trust vehicles, the Company’s fees are calculated and earned daily based on AUM. The Company has agreements with third parties who provide distribution and administrative services for its mutual funds, collective investment trusts and certain separately managed accounts. Third party agreements are evaluated against Financial Accounting Standards Board ("FASB") ASC 605-45 Revenue Recognition - Principal Agent Considerations to determine whether revenue should be reported gross or net of payments to third-party service providers. In management's judgment there are various indicators that support gross revenue reporting, the most notable being the Company acts as primary obligor and therefore principal service provider. Based on this evaluation, investment management service revenue is recorded gross of distribution and administrative fees paid to third parties.
Advisory Agreements	Advisory Agreements The Company derives significant revenue from its role as advisor to the Fund and the CIT. The Company's investments in the Fund amounted to approximately $1.3 million as of March 31, 2016 and $1.2 million as of December 31, 2015 . Fees earned for advisory related services provided to the Fund and CIT investment vehicles were approximately $28.1 million and $45.2 million for the three months ended March 31, 2016 and 2015 , respectively. These amounts represent greater than 10% of the Company's revenue in each respective period.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which supersedes existing accounting standards for revenue recognition and creates a single framework. The new guidance will be effective on January 1, 2018 and requires either a retrospective or a modified retrospective approach to adoption. Early application is permitted. The Company is currently evaluating its transition method and the potential impact on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which requires all equity investments to be measured at fair value with changes in the fair value recognized through net income. ASU 2016-01 will be effective on January 1, 2018 and will result in a cumulative-effect adjustment to the balance sheet upon adoption. The Company is currently evaluating the impact that ASU 2016-01 will have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which is intended to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). The new guidance will be effective for fiscal years beginning after December 15, 2018, with earlier application permitted. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company is currently evaluating the impact that ASU 2016-02 will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718), which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. Early application is permitted. The Company is currently evaluating the impact that ASU 2016-09 will have on its consolidated financial statements.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interest [Abstract]
Reconciliation from Income Before Provision for Income Taxes to Net Income Attributable to Manning & Napier, Inc.	The following provides a reconciliation from “Income before provision for income taxes” to “Net income attributable to Manning & Napier, Inc.”: Three months ended March 31, 2016 2015 (in thousands) Income before provision for income taxes $ 23,858 $ 38,590 Less: loss before provision for income taxes of Manning & Napier, Inc. (a) (17 ) (18 ) Income before provision for income taxes, as adjusted 23,875 38,608 Controlling interest percentage (b) 16.7 % 14.5 % Net income attributable to controlling interest 3,979 5,614 Plus: loss before provision for income taxes of Manning & Napier, Inc. (a) (17 ) (18 ) Income before income taxes attributable to Manning & Napier, Inc. 3,962 5,596 Less: provision for income taxes of Manning & Napier, Inc. (c) 1,544 2,287 Net income attributable to Manning & Napier, Inc. $ 2,418 $ 3,309 ________________________ a) Manning & Napier, Inc. incurs certain gains or expenses that are only attributable to it and are therefore excluded from the net income attributable to noncontrolling interests. b) Income before provision for income taxes is allocated to the controlling interest based on the percentage of units of Manning & Napier Group held by Manning & Napier, Inc. The amount represents the Company's weighted ownership of Manning & Napier Group for the respective periods. c) The consolidated provision for income taxes is equal to the sum of (i) the provision for income taxes for entities other than Manning & Napier, Inc. and (ii) the provision for income taxes of Manning & Napier, Inc. which includes all U.S. federal and state income taxes. The consolidated provision for income taxes was $1.7 million and $2.5 million for the three months ended March 31, 2016 and 2015 , respectively

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2016
Investments [Abstract]
Company's Investment Securities Holdings	The following represents the Company’s investment securities holdings as of March 31, 2016 and December 31, 2015 : March 31, 2016 Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Available-for-sale securities U.S. Treasury notes (0.35%, 10/31/2016) $ 2,105 $ — $ (3 ) $ 2,102 Trading securities Equity securities 7,044 Fixed income securities 7,864 Mutual funds 273 Mutual funds - consolidated funds 981 Hedge funds 2,700 18,862 Total investment securities $ 20,964 December 31, 2015 Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Available-for-sale securities U.S. Treasury notes (0.35%, 10/31/2016) $ 2,105 $ — $ (6 ) $ 2,099 Trading securities Equity securities 8,967 Fixed income securities 7,624 Mutual funds 116 Mutual funds - consolidated funds 1,107 Hedge funds 2,654 20,468 Total investment securities $ 22,567

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table presents the notional value and fair value as of December 31, 2015 for derivative instruments not designated as hedging instruments: December 31, 2015 Fair Value Notional Value Asset Derivative Liability Derivative (in thousands) Interest rate futures $ 124,470 $ 169 $ (112 ) Index futures 3,715 57 (47 ) Commodity futures 2,440 27 (30 ) Currency futures 6,921 35 (43 ) Total derivatives $ 137,546 $ 288 $ (232 )
Schedules of Derivative Gains and Losses	The following table presents the gains (losses) recognized in net gains (losses) on investments in the consolidated statements of operations for the three months ended March 31, 2016 and 2015 : Three months ended March 31, 2016 2015 (in thousands) Interest rate futures $ 494 $ 118 Index futures (37 ) 71 Commodity futures (13 ) 20 Currency futures (102 ) 294 Gains (losses) recognized, net $ 342 $ 503
Offsetting of Managed Futures	The following table presents the offsetting of managed futures as of March 31, 2016 and December 31, 2015 : Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets (Liabilities) Presented in the Statement of Financial Position Financial Instruments Cash Collateral Received (Pledged) Net Amount (in thousands) March 31, 2016 $ — $ — $ — $ — $ — $ — December 31, 2015 $ (232 ) $ 288 $ 56 $ — $ — $ 56

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Hierarchy of Inputs Used to Derive the Fair Value of Company's Financial Instruments	The following provides the hierarchy of inputs used to derive the fair value of the Company’s financial instruments as of March 31, 2016 and December 31, 2015 : March 31, 2016 Level 1 Level 2 Level 3 Totals (in thousands) Equity securities $ 7,044 $ — $ — $ 7,044 Fixed income securities 1,086 6,778 — 7,864 Mutual funds 273 — — 273 Mutual funds - consolidated funds 981 — — 981 U.S. Treasury notes — 2,102 — 2,102 Total assets at fair value $ 9,384 $ 8,880 $ — $ 18,264 December 31, 2015 Level 1 Level 2 Level 3 Totals (in thousands) Equity securities $ 8,967 $ — $ — $ 8,967 Fixed income securities 1,008 6,616 — 7,624 Mutual funds 116 — — 116 Mutual funds - consolidated funds 1,107 — — 1,107 U.S. Treasury notes — 2,099 — 2,099 Derivatives 288 — — 288 Total assets at fair value $ 11,486 $ 8,715 $ — $ 20,201 Derivatives 232 — — 232 Total liabilities at fair value $ 232 $ — $ — $ 232

Accrued Expenses and Other Li28

Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities as of March 31, 2016 and December 31, 2015 consisted of the following: March 31, 2016 December 31, 2015 (in thousands) Accrued bonus and sales commissions $ 11,688 $ 22,584 Accrued payroll and benefits 2,298 2,844 Accrued sub-transfer agent fees 4,749 6,148 Dividends payable 2,358 2,361 Amounts payable under tax receivable agreement 3,278 3,278 Other accruals and liabilities 3,629 5,265 $ 28,000 $ 42,480

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Calculation of basic and diluted earnings per share	The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the three months ended March 31, 2016 and 2015 under the two-class method: Three months ended March 31, 2016 2015 (in thousands, except share data) Net income attributable to controlling and noncontrolling interests $ 22,184 $ 36,111 Less: net income attributable to noncontrolling interests 19,766 32,802 Net income attributable to Manning & Napier, Inc. $ 2,418 $ 3,309 Less: allocation to participating securities 162 — Net income available to Class A common stock $ 2,256 $ 3,309 Weighted average shares of Class A common stock outstanding - basic 13,745,130 13,713,540 Dilutive effect from unvested equity awards 339,773 201,368 Weighted average shares of Class A common stock outstanding - diluted 14,084,903 13,914,908 Net income available to Class A common stock per share - basic $ 0.16 $ 0.24 Net income available to Class A common stock per share - diluted $ 0.16 $ 0.24

Equity Based Compensation (Tabl

Equity Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Share-based Compensation [Abstract]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the equity award activity for the three months ended March 31, 2016 under the Company's Equity Plan: Restricted Stock Awards Weighted Average Grant Date Fair Value Stock awards outstanding at January 1, 2016 2,031,629 $ 12.92 Granted — $ — Vested — $ — Forfeited (30,115 ) $ 13.06 Stock awards outstanding at March 31, 2016 2,001,514 $ 12.91

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Provision and Effective Tax Rate	The Company’s income tax provision and effective tax rate were as follows: Three months ended March 31, 2016 2015 (in thousands) Earnings from continuing operations before income taxes $ 23,858 $ 38,590 Effective tax rate 7.0 % 6.4 % Provision for income taxes 1,674 2,479 Provision for income taxes 35% 8,350 13,507 Difference between tax at effective vs. statutory rate $ (6,676 ) $ (11,028 )

Organization and Nature of th32

Organization and Nature of the Business (Details)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Class A common Stock of Public Investors	100.00%
Class B common Stock of William Manning	100.00%
Voting Rights held by public	49.80%
Percentage of voting rights held by majority shareholder	50.20%
Percentage of economic rights held by public	100.00%
Percentage Of Economic Rights Held By Controlling Shareholder	0.00%
Outside ownership interest in limited liability and limited partnership companies	1.00%
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	16.70%
Majority Outside Ownership Interest in limited liability and limited partnership companies	82.30%
Outside Voting Rights in Limited Liability Company LLC or Limited Partnership companies	1.00%
Managing Member or General Partner Voting Rights In Limited Liability Company LLC or Limited Partnership	16.70%
Majority Outside Voting Rights in Limited Liability Company LLC or Limited Partnership companies	82.30%
Outside Economic Rights in Limited Liability Company LLC or Limited Partnership companies	1.00%
Managing Member or General Partner Economic Rights of Limited Liability Company LLC or Limited	16.70%
Majority Outside Economic Rights in Limited Liability Company LLC Or Limited Partnership Companies	82.30%

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)Segment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Number of segments | Segment	1
Trading securities, at fair value	$ 18,862		$ 20,468
Fees earned for advisory related services provided to the Fund and CIT investment vehicles	28,100	$ 45,200
Managed Mutual Funds and Managed Mutual Consolidated Funds | Manning & Napier Fund
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Trading securities, at fair value	1,300		1,200
Mutual Funds
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Trading securities, at fair value	273		116
Mutual Funds | Manning & Napier Fund
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Trading securities, at fair value	$ 273		$ 116
Manning & Napier Group, LLC
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage of economic interest in Manning & Napier Group held by Manning & Napier, Inc (percent)	16.70%

Noncontrolling Interests (Recon

Noncontrolling Interests (Reconciliation of Income) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Noncontrolling Interest [Abstract]
Income before provision for income taxes		$ 23,858	$ 38,590
Less: gain (loss) before provision for income taxes of Manning & Napier, Inc.	[1]	(17)	(18)
Income before provision for income taxes, as adjusted		$ 23,875	$ 38,608
Controlling interest percentage	[2]	16.70%	14.50%
Net income attributable to controlling interest		$ 3,979	$ 5,614
Plus: gain (loss) before provision for income taxes of Manning & Napier, Inc.	[1]	(17)	(18)
Income before income taxes attributable to Manning & Napier, Inc.		3,962	5,596
Less: provision for income taxes of Manning & Napier, Inc.	[3]	1,544	2,287
Net income attributable to Manning & Napier, Inc.		2,418	3,309
Provision for income taxes		$ 1,674	$ 2,479
[1]	Manning & Napier, Inc. incurs certain gains or expenses that are only attributable to it and are therefore excluded from the net income attributable to noncontrolling interests
[2]	Income before provision for income taxes is allocated to the controlling interest based on the percentage of units of Manning & Napier Group held by Manning & Napier, Inc. The amount represents the Company's weighted ownership of Manning & Napier Group for the respective periods.
[3]	The consolidated provision for income taxes is equal to the sum of (i) the provision for income taxes for entities other than Manning & Napier, Inc. and (ii) the provision for income taxes of Manning & Napier, Inc. which includes all U.S. federal and state income taxes. The consolidated provision for income taxes was $1.7 million and $2.5 million for the three months ended March 31, 2016 and 2015, respectively

Noncontrolling Interests (Textu

Noncontrolling Interests (Textual) (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Payments due to selling unit holders	$ 42,000,000		$ 41,900,000
Amounts payable under tax receivable agreement	3,278,000		$ 3,278,000
Payment pursuant to the TRA	$ 0	$ 0
Manning & Napier Group, LLC
Noncontrolling Interest [Line Items]
Percentage of economic interest in Manning & Napier Group held by Manning & Napier, Inc (percent)	16.70%
Manning And Napier Group Holding LLC
Noncontrolling Interest [Line Items]
Percentage of economic interest in Manning & Napier Group held by MN Group Holdings, MNCC and the other members of Manning & Napier Group (percent)	83.30%
Class A common stock | Manning And Napier Group Holding LLC
Noncontrolling Interest [Line Items]
Conversion of Stock, Number of Shares Eligible for Exchange	34,600,000
Class A units | Class A Units
Noncontrolling Interest [Line Items]
Number of common units available for conversion	67,896,484	67,896,484
Majority Shareholder | Class A common stock | Manning And Napier Group Holding LLC
Noncontrolling Interest [Line Items]
Conversion of Stock, Number of Shares Eligible for Exchange	31,100,000
Maximum | Class A common stock | Manning And Napier Group Holding LLC
Noncontrolling Interest [Line Items]
Conversion of Stock, Number of Shares Eligible for Exchange	35,500,000

Investment Securities (Company'

Investment Securities (Company's Investment Securities Holdings) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Investment Holdings [Line Items]
Trading securities, at fair value	$ 18,862	$ 20,468
Investment securities - consolidated funds	981	1,107
Total investment securities	$ 20,964	$ 22,567
U.S. Treasury notes (0.35%, 10/31/2016)
Investment Holdings [Line Items]
Total Return of Notes	0.35%	0.35%
Cost	$ 2,105	$ 2,105
Unrealized Gains	0	0
Unrealized Losses	(3)	(6)
Fair Value	2,102	2,099
Equity securities
Investment Holdings [Line Items]
Trading securities, at fair value	7,044	8,967
Fixed income securities
Investment Holdings [Line Items]
Trading securities, at fair value	7,864	7,624
Mutual Funds
Investment Holdings [Line Items]
Trading securities, at fair value	273	116
Mutual funds - consolidated funds
Investment Holdings [Line Items]
Trading securities, at fair value	981	1,107
Investment securities - consolidated funds	981	1,107
Hedge Funds
Investment Holdings [Line Items]
Trading securities, at fair value	2,700
Manning & Napier Fund | Mutual Funds
Investment Holdings [Line Items]
Trading securities, at fair value	273	116
Manning & Napier Fund | Hedge Funds
Investment Holdings [Line Items]
Trading securities, at fair value		2,654
Level 2 | Equity securities
Investment Holdings [Line Items]
Trading securities, at fair value	0	0
Level 2 | Fixed income securities
Investment Holdings [Line Items]
Trading securities, at fair value	6,778	6,616
Level 2 | Mutual Funds
Investment Holdings [Line Items]
Trading securities, at fair value	0	0
Level 2 | Mutual funds - consolidated funds
Investment Holdings [Line Items]
Investment securities - consolidated funds	$ 0	$ 0

Investment Securities (Textual)

Investment Securities (Textual) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Investments [Abstract]
Recognized net unrealized gains (loss) on trading securities	$ 1,000,000	$ 200,000
Available-for-sale Securities, Restricted	600,000		$ 600,000
Other than temporary impairment losses	$ 0	$ 0

Derivative Instruments - Deriva

Derivative Instruments - Derivative Instruments (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 04, 2016	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Future
Derivative [Line Items]
Asset Derivative			$ 0	$ 288
Liability Derivative			$ 0	(232)
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Value				137,546
Asset Derivative				288
Liability Derivative				(232)
Not Designated as Hedging Instrument | Future
Derivative [Line Items]
Average Volume of Derivative Activity	$ 127,800	$ 199,900
Not Designated as Hedging Instrument | Interest Rate Contract | Future
Derivative [Line Items]
Notional Value				124,470
Asset Derivative				169
Liability Derivative				(112)
Not Designated as Hedging Instrument | Index Contract | Future
Derivative [Line Items]
Notional Value				3,715
Asset Derivative				57
Liability Derivative				(47)
Not Designated as Hedging Instrument | Commodity Contract | Future
Derivative [Line Items]
Notional Value				2,440
Asset Derivative				27
Liability Derivative				(30)
Not Designated as Hedging Instrument | Currency Contract | Future
Derivative [Line Items]
Notional Value				6,921
Asset Derivative				35
Liability Derivative				$ (43)

Derivative Instruments - Deri39

Derivative Instruments - Derivative Instruments - Gains and Losses (Details) - Not Designated as Hedging Instrument - Net Capital Gains (Losses) on Investments - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 342	$ 503
Future | Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	494	118
Future | Index Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(37)	71
Future | Commodity Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(13)	20
Future | Currency Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (102)	$ 294

Derivative Instruments - Deri40

Derivative Instruments - Derivative Instruments - Offsetting (Details) - Future - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Offsetting Liabilities [Line Items]
Gross Amounts of Recognized Liabilities	$ 0	$ (232)
Gross Amounts Offset in the Statement of Financial Position	0	288
Net Amounts of Assets (Liabilities) Presented in the Statement of Financial Position	0	56
Financial Instruments	0	0
Cash Collateral Received (Pledged)	0	0
Net Amount	$ 0	$ 56

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	$ 18,862	$ 20,468
Investment securities - consolidated funds	981	1,107
Derivatives		288
Investments, Fair Value Disclosure	18,264	20,201
Derivatives		232
Total liabilities at fair value		232
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	7,044	8,967
Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	7,864	7,624
Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	273	116
Mutual funds - consolidated funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	981	1,107
Investment securities - consolidated funds	981	1,107
Hedge Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	2,700
Investments, Fair Value Disclosure	2,700	2,700
Us Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury notes	2,102	2,099
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives		288
Investments, Fair Value Disclosure	9,384	11,486
Derivatives		232
Total liabilities at fair value		232
Level 1 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	7,044	8,967
Level 1 | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	1,086	1,008
Level 1 | Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	273	116
Level 1 | Mutual funds - consolidated funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - consolidated funds	981	1,107
Level 1 | Us Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury notes	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives		0
Investments, Fair Value Disclosure	8,880	8,715
Derivatives		0
Total liabilities at fair value		0
Level 2 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	0	0
Level 2 | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	6,778	6,616
Level 2 | Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	0	0
Level 2 | Mutual funds - consolidated funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - consolidated funds	0	0
Level 2 | Us Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury notes	2,102	2,099
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives		0
Investments, Fair Value Disclosure	0	0
Derivatives		0
Total liabilities at fair value		0
Level 3 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	0	0
Level 3 | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	0	0
Level 3 | Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	0	0
Level 3 | Mutual funds - consolidated funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - consolidated funds	0	0
Level 3 | Us Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury notes	$ 0	$ 0

Accrued Expenses and Other Li42

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts Payable and Accrued Liabilities [Abstract]
Accrued bonus and sales commissions	$ 11,688	$ 22,584
Accrued payroll and benefits	2,298	2,844
Accrued sub-transfer agent fees	4,749	6,148
Dividends payable	2,358	2,361
Amounts payable under tax receivable agreement	3,278	3,278
Other accruals and liabilities	3,629	5,265
Accrued expenses and other liabilities	$ 28,000	$ 42,480

Borrowings (Details)

Borrowings (Details) - USD ($)	Apr. 23, 2015	Mar. 31, 2016
Debt Instrument [Line Items]
Debt instrument, interest rate, minimum (percent)	0.00%
Revolving Credit Facility $100.0 Million | Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Term	4 years
Revolving line of credit, maximum borrowing capacity	$ 100,000,000
Line of Credit Facility Increase Additional Borrowings On Condition Satisfaction	150,000,000
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases	5,000,000
Line of Credit Facility Capacity Available for Swingline Facility	$ 5,000,000
Line of Credit Facility, Fair Value of Amount Outstanding		$ 0
Interest rate description	LIBOR
Minimum Interest Coverage Ratio	4
Maximum Leverage Ratio	2.75
Revolving Credit Facility $100.0 Million | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Line of Credit Facility LIBOR Based Loan Basis Spread on Alternative Base Rate	1.50%
Line of Credit Facility Base Rate Loan Basis Spread on Alternative Base Rate	0.50%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.25%
Revolving Credit Facility $100.0 Million | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Line of Credit Facility LIBOR Based Loan Basis Spread on Alternative Base Rate	2.50%
Line of Credit Facility Base Rate Loan Basis Spread on Alternative Base Rate	1.50%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.45%

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to controlling and noncontrolling interests	$ 22,184	$ 36,111
Less: net income attributable to noncontrolling interests	19,766	32,802
Net income attributable to Manning & Napier, Inc.	2,418	3,309
Less: allocation to participating securities	162	0
Net income available to Class A common stock	$ 2,256	$ 3,309
Weighted average shares of Class A common stock outstanding - basic (in shares)	13,745,130	13,713,540
Dilutive effect from unvested equity awards (in shares)	339,773	201,368
Weighted average shares of Class A common stock outstanding - diluted (in shares)	14,084,903	13,914,908
Net income available to Class A common stock per share - basic (in dollars per share)	$ 0.16	$ 0.24
Net income available to Class A common stock per share - diluted (in dollars per share)	$ 0.16	$ 0.24
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	20,000
Performance Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	120,919	181,378
Class A common stock | Class A units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	990,000
Class A units | Class A Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of common units available for conversion	67,896,484	67,896,484

Equity Based Compensation (Rest

Equity Based Compensation (Restricted Stock Awards) (Details)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Stock Units
Stock unit awards, beginning balance (shares) | shares	2,031,629
Granted (shares) | shares	0
Vested (shares) | shares	0
Forfeited (shares) | shares	(30,115)
Stock unit awards, ending balance (shares) | shares	2,001,514
Weighted Average Grant Date Fair Value
Stock unit awards, beginning balance, weighted average grant date fair value (dollars per share) | $ / shares	$ 12.92
Granted, weighted average grant date fair value (dollars per share) | $ / shares	0
Vested, weighted average grant date fair value (dollars per share) | $ / shares	0
Forfeited, weighted average grant date fair value (dollars per share) | $ / shares	13.06
Stock unit awards, ending balance, weighted average grant date fair value (dollars per share) | $ / shares	$ 12.91

Equity Based Compensation (Text

Equity Based Compensation (Textual) (Details) - 2011 Plan - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	13,142,813
Share-based compensation expense	$ 1.3	$ 0.6
Unrecognized compensation expense related to unvested awards	$ 14.8
Weighted average period of unrecognized compensation expense (years)	3 years 11 months

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Earnings from continuing operations before income taxes	$ 23,858	$ 38,590
Effective Tax Rate (percent)	7.00%	6.40%
Provision for income taxes	$ 1,674	$ 2,479
Provision for income taxes @ 35%	8,350	13,507
Difference between tax at effective vs. statutory rate	$ (6,676)	$ (11,028)
Effective income tax rate, federal statutory income tax rate (percent)	35.00%	35.00%

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Related Party Transactions [Abstract]
aggregate value of the fees earned and fees waived (less than $0.1 million	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 30, 2016	Apr. 27, 2016	Apr. 26, 2016	Mar. 31, 2016	Mar. 31, 2015
Subsequent Event [Line Items]
Distribution payable to noncontrolling interests				$ 9,798	$ 26,787
Per share dividend declared to the holders of Class A common stock				$ 0.16	$ 0.16
Class A common stock
Subsequent Event [Line Items]
Per share dividend declared to the holders of Class A common stock				$ 0.16	$ 0.16
Subsequent Event
Subsequent Event [Line Items]
Distribution payable to noncontrolling interests			$ 10,400
Manning & Napier Group, LLC | Subsequent Event
Subsequent Event [Line Items]
Amount approved for distribution to members of Manning & Napier Group			$ 12,500
Amount of shares exchanged		2,111,913
Payments for exchange of shares		$ 16,100
Manning & Napier Group, LLC | Subsequent Event | Class A common stock
Subsequent Event [Line Items]
Per share dividend declared to the holders of Class A common stock			$ 0.16
Rainier Investment Management, LLC | Subsequent Event
Subsequent Event [Line Items]
Assets under management of business acquired	$ 3,000,000
Percentage of interests acquired	75.00%
Noncontrolling interest ownership percentage	25.00%
Payments to acquire business	$ 13,000
Contingent additional payment, term	4 years
Maximum | Rainier Investment Management, LLC | Subsequent Event
Subsequent Event [Line Items]
Contingent additional payment	$ 32,500