Manning & Napier (MN) 10-Q 7 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 02, 2016
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		15,002,880
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	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 123,708	$ 117,591
Accounts receivable	17,240	15,807
Accounts receivable—affiliated mutual funds	6,630	8,473
Due from broker	0	3,962
Due from broker - consolidated funds	0	3,510
Investment securities	17,568	21,460
Investment securities - consolidated funds	1,036	1,107
Prepaid expenses and other assets	3,572	4,638
Total current assets	169,754	176,548
Property and equipment, net	6,065	6,299
Net deferred tax assets, non-current	44,437	46,649
Goodwill	4,843	871
Other long-term assets	9,467	429
Total assets	234,566	230,796
Liabilities
Accounts payable	2,523	1,141
Accrued expenses and other liabilities	35,540	42,480
Deferred revenue	10,871	10,938
Total current liabilities	48,934	54,559
Other long-term liabilities	6,588	2,796
Amounts payable under tax receivable agreement, non-current	36,255	38,661
Total liabilities	91,777	96,016
Commitments and contingencies
Shareholders’ equity
Additional paid-in capital	203,885	205,760
Retained deficit	(37,027)	(37,149)
Accumulated other comprehensive income	4	(3)
Total shareholders’ equity	167,012	168,756
Noncontrolling interests	(24,223)	(33,976)
Total shareholders’ equity and noncontrolling interests	142,789	134,780
Total liabilities, shareholders’ equity and noncontrolling interests	234,566	230,796
Class A common stock
Shareholders’ equity
Common stock	150	148
Class B common stock
Shareholders’ equity
Common stock	$ 0	$ 0

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Sep. 30, 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)	15,032,880	14,755,130
Common stock, shares outstanding (shares)	15,032,880	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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues
Investment management services revenue	$ 63,305	$ 75,435	$ 189,852	$ 248,045
Expenses
Compensation and related costs	24,627	24,500	70,973	79,627
Distribution, servicing and custody expenses	8,798	11,127	26,590	39,010
Other operating costs	8,188	9,075	24,854	27,053
Total operating expenses	41,613	44,702	122,417	145,690
Operating income	21,692	30,733	67,435	102,355
Non-operating income (loss)
Interest expense	(127)	(131)	(339)	(215)
Interest and dividend income	141	138	457	459
Change in liability under tax receivable agreement	(76)	(2,793)	(94)	(2,810)
Net gains (losses) on investments	(80)	(3,221)	1,192	(4,184)
Total non-operating income (loss)	(142)	(6,007)	1,216	(6,750)
Income before provision for income taxes	21,550	24,726	68,651	95,605
Provision (benefit) for income taxes	1,565	(1,600)	4,784	2,960
Net income attributable to controlling and noncontrolling interests	19,985	26,326	63,867	92,645
Less: net income attributable to noncontrolling interests	17,727	22,784	56,586	82,291
Net income attributable to Manning & Napier, Inc.	$ 2,258	$ 3,542	$ 7,281	$ 10,354
Net income per share available to Class A common stock
Basic (in dollars per share)	$ 0.15	$ 0.24	$ 0.49	$ 0.72
Diluted (in dollars per share)	$ 0.15	$ 0.21	$ 0.48	$ 0.71
Weighted average shares of Class A common stock outstanding
Basic (in shares)	14,042,880	13,745,130	13,916,721	13,732,980
Diluted (in shares)	14,175,321	81,889,208	14,173,283	13,951,651
Cash dividends declared per share of Class A common stock	$ 0.16	$ 0.16	$ 0.48	$ 0.48

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income attributable to controlling and noncontrolling interests	$ 19,985	$ 26,326	$ 63,867	$ 92,645
Net unrealized holding gain (loss) on investment securities, net of tax	1	0	7	(2)
Comprehensive income	19,986	26,326	63,874	92,643
Less: Comprehensive income attributable to noncontrolling interests	17,728	22,784	56,593	82,289
Comprehensive income attributable to Manning & Napier, Inc.	$ 2,258	$ 3,542	$ 7,281	$ 10,354

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Cash dividends declared per share of Class A common stock	$ 0.16	$ 0.16	$ 0.48	$ 0.48
Class A common stock
Cash dividends declared per share of Class A common stock			$ 0.48	$ 0.48

Consolidated Statements of Sha7

Consolidated Statements 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	92,645				10,354		82,291
Distributions to noncontrolling interests	(79,029)						(79,029)
Net changes in unrealized investment securities gains or losses	(2)					(2)
Common stock issued under equity compensation plan, Shares		1,061,590
Common stock issued under equity compensation plan	0	$ 11		(11)
Equity-based compensation	3,755			600			3,155
Dividends declared on Class A common stock - $0.48 and $0.48 per share in September 30, 2016 and September 30, 2015	(6,916)				(6,916)
Purchase of Class A units of Manning & Napier Group, LLC held by noncontrolling interests	(37,720)			(4,394)			(33,326)
Ending balance at Sep. 30, 2015	121,444	$ 148	$ 0	205,479	(37,649)	(2)	(46,532)
Ending balance, Shares at Sep. 30, 2015		14,775,130	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	63,867				7,281		56,586
Distributions to noncontrolling interests	(34,153)						(34,153)
Net changes in unrealized investment securities gains or losses	7					7
Common stock issued under equity compensation plan, Shares		277,750
Common stock issued under equity compensation plan	0	$ 2		(2)
Shares withheld to satisfy tax withholding requirements related to restricted stock units granted	(953)			(162)			(791)
Equity-based compensation	2,535			433			2,102
Dividends declared on Class A common stock - $0.48 and $0.48 per share in September 30, 2016 and September 30, 2015	(7,159)				(7,159)
Purchase of Class A units of Manning & Napier Group, LLC held by noncontrolling interests	(16,135)			(2,144)			(13,991)
Ending balance at Sep. 30, 2016	$ 142,789	$ 150	$ 0	$ 203,885	$ (37,027)	$ 4	$ (24,223)
Ending balance, Shares at Sep. 30, 2016		15,032,880	1,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 63,867	$ 92,645
Adjustment to reconcile net income to net cash provided by operating activities:
Equity-based compensation	2,535	3,755
Depreciation and amortization	1,952	1,968
Change in amounts payable under tax receivable agreement	94	2,810
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(500)	0
Net (gains) losses on investment securities	(1,192)	4,184
Deferred income taxes	2,212	(1,087)
Amortization of debt issuance costs	117	65
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:
Accounts receivable	2,011	6,086
Accounts receivable - affiliated mutual funds	(1,862)	(6,571)
Due from broker - consolidated funds	3,795	(5,000)
Investment securities - consolidated funds	0	(1,150)
Prepaid expenses and other assets	1,238	3,230
Accounts payable	(349)	(2,036)
Accrued expenses and other liabilities	(12,196)	(18,188)
Deferred revenue	(68)	(35)
Other long-term liabilities	(8)	(217)
Net cash provided by operating activities	65,370	93,601
Cash flows from investing activities:
Purchase of property and equipment	(240)	(555)
Sale of investments	9,033	8,207
Purchase of investments	(4,229)	(6,610)
Due from broker	4,022	0
Acquisitions, net of cash received	(9,321)	0
Net cash (used in) provided by investing activities	(735)	1,042
Cash flows from financing activities:
Distributions to noncontrolling interests	(34,153)	(79,029)
Dividends paid on Class A common stock	(7,123)	(7,851)
Payment of shares withheld to satisfy withholding requirements	(953)	(64)
Payment of capital lease obligations	(154)	(166)
Purchase of Class A units of Manning & Napier Group, LLC	(16,135)	(37,720)
Payment of debt issuance costs	0	622
Net cash used in financing activities	(58,518)	(125,452)
Net increase (decrease) in cash and cash equivalents	6,117	(30,809)
Cash and cash equivalents:
Beginning of period	117,591	124,992
End of period	$ 123,708	$ 94,183

Organization and Nature of the

Organization and Nature of the Business	9 Months Ended
	Sep. 30, 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 September 30, 2016 . (1) The consolidated 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., Exeter Trust Company and Rainier Investment Management, LLC.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 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. The Company changed its presentation of goodwill within its consolidated statements of financial condition from a component of total "Other long-term assets" to "Goodwill". Amounts for the comparative prior fiscal year period have been reclassified to conform to the current year presentation. This reclassification had no impact on previously reported total assets or financial position and does not represent a restatement of any previously published financial results. Other long-term assets at December 31, 2015 , previously reported as $1.3 million , is $0.4 million as reclassified. Goodwill at December 31, 2015 is $0.9 million as reclassified. Revision of Previously Reported Consolidated Statements of Operations In the quarter ended September 30, 2016, the Company revised its treatment of payments made to certain advisory clients, in accordance with Accounting Standard Codification ("ASC") 605-50, Revenue Recognition - Customer Payments and Incentives to properly present these payments as a reduction to revenue. The Company assessed the materiality of this item on its fiscal year ended December 31, 2015, and all prior and subsequent periods, and concluded that the reclassification was not material to any such periods. The statements of operations for the three and nine months ended September 30, 2015 included herein have been revised to reflect the proper presentation of investment management services revenue and distribution, servicing and custody expenses. The reclassification has no impact on operating income or net income. The impact is illustrated below: Three months ended September 30, 2015 Nine months ended September 30, 2015 (in thousands) Investment management services revenue, as previously reported $ 77,928 $ 255,327 Revision (2,493 ) (7,282 ) Investment management services revenue, as revised $ 75,435 $ 248,045 Distribution, servicing and custody expenses, as previously reported $ 13,620 $ 46,292 Revision (2,493 ) (7,282 ) Distribution, servicing and custody expenses, as revised $ 11,127 $ 39,010 Principles of Consolidation The Company consolidates all majority-owned subsidiaries. In addition, as of September 30, 2016 , Manning & Napier holds an economic interest of approximately 17.4% 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 Update ("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”), Exeter Trust Company Collective Investment Trusts (“CIT”), Rainier Investment Management Mutual Funds and Rainier Multiple Investment Trust. The Fund, CIT, Rainier Investment Management Mutual Funds and Rainier Multiple Investment Trust 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. 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 September 30, 2016 , trading securities consist solely of investments held by the Company to provide initial cash seeding for product development purposes. Goodwill and Intangible Assets Goodwill represents the excess cost over the fair value of the identifiable net assets of acquired companies. Identifiable intangible assets generally represent the cost of client relationships and investment management agreements acquired as well as trademarks. Goodwill and indefinite-lived assets are tested for impairment annually or more frequently if events or circumstances indicate that the carrying value may not be recoverable. Intangible assets subject to amortization are tested for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. Goodwill and intangible assets require significant management estimate and judgment, including the valuation and expected life determination in connection with the initial purchase price allocation and the ongoing evaluation for impairment. 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 September 30, 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 $24.8 million and $78.6 million for the three and nine months ended September 30, 2016 , respectively and $35.1 million and $121.5 million for the three and nine months ended September 30, 2015 , respectively. These amounts represent greater than 10% of the Company's revenue in each respective period. Property and Equipment Property and equipment is presented net of accumulated depreciation of approximately $11.6 million and $8.7 million as of September 30, 2016 and December 31, 2015 , respectively. 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.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisitions	Acquisitions On April 30, 2016 , the Company acquired a majority ownership 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 is headquartered in Seattle, Washington. 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 transaction serves to further diversify the Company's product offerings, enhance its positioning as a provider to defined contribution plans, and broaden its geographic coverage of the western United States. Consideration transferred included an upfront cash payment on the transaction closing date of $13.0 million . Additional cash payments of up to $32.5 million over a four year period are contingent upon Rainier’s achievement of certain annual financial targets. The fair value of the liability for this contingent consideration recognized on the acquisition date was $3.5 million . As of September 30, 2016 the fair value of the contingent liability was $3.0 million , of which $0.4 million is included in accrued expenses and other current liabilities with the remainder in other long-term liabilities within the consolidated statements of financial condition. The transaction was accounted for by the Company using the acquisition method under ASC 805, Business Combinations . The following table summarizes the preliminary allocation of the April 30, 2016 purchase price to the assets acquired and liabilities assumed (in thousands): Assets acquired Current assets $ 6,998 Property and equipment, net 783 Intangible assets Client relationships 9,320 Trademarks 270 Goodwill 3,962 Total assets acquired 21,333 Liabilities assumed Accounts payable and accrued expenses 3,703 Other liabilities 1,204 Total liabilities assumed 4,907 Purchase price $ 16,426 The amounts allocated to the Rainier assets acquired and liabilities assumed are preliminary pending completion of the final purchase price allocation, primarily in the area of accounting for income taxes. The goodwill of $4.0 million represents the excess of the purchase price over the fair value of identifiable tangible and intangible assets acquired and, in management's opinion, is largely attributable to the value expected from the synergies created through the integration of Rainier's operations, the reputation and expertise of Rainier in the asset management industry, and the existing workforce of Rainier. The goodwill recognized as a result of the acquisition is expected to be deductible for tax purposes. The intangible assets for client relationships include those for separately managed accounts, mutual funds, and collective investment trusts. The client relationships for separately managed accounts were valued at $1.5 million and are being amortized over an estimated useful life of 6 years. Those for mutual funds and collective investment trusts, valued at approximately $7.8 million , are indefinite-lived, and as such, are not being amortized. The acquisition date fair value of the contingent consideration was measured using a Monte Carlo simulation with various unobservable market data inputs, which are Level 3 measurements. Significant unobservable inputs included projected revenue growth, projected EBITDA margins and discount rates over the four year earn-out period. For purposes of the simulation, EBITDA generally means net income before interest expense, income taxes, depreciation and amortization expense. A summary of various assumption values follows: Projected revenue growth up to 7.0% Projected EBITDA margins 12.4% to 29.3% Market price of risk 7.8% Earn-out payment discount rate 3.0% to 3.6% Significant increases (decreases) in projected AUM or revenue could result in a significantly higher (lower) contingent consideration liability fair value. The 25% ownership maintained by key professionals at Rainier is subject to service-based vesting over the five -year period following the acquisition. The Company has the option to repurchase any vested ownership interests upon termination of employment, at a price based on the post-acquisition financial results of Rainier for the most recent four -quarter period preceding the employee's termination date. This repurchase price is recognized as a liability within the consolidated statements of financial condition. The carrying value of this liability was $0 on the acquisition date, and $0.1 million as of September 30, 2016 .

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Manning & Napier holds an economic interest of approximately 17.4% 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 82.6% 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 September 30, Nine months ended September 30, 2016 2015 2016 2015 (in thousands) Income before provision for income taxes $ 21,550 $ 24,726 $ 68,651 $ 95,605 Less: loss before provision for income taxes of Manning & Napier, Inc. (a) (95 ) (2,799 ) (114 ) (2,822 ) Income before provision for income taxes, as adjusted 21,645 27,525 68,765 98,427 Controlling interest percentage (b) 17.4 % 16.7 % 17.1 % 16.0 % Net income attributable to controlling interest 3,765 4,647 11,753 15,714 Plus: loss before provision for income taxes of Manning & Napier, Inc. (a) (95 ) (2,799 ) (114 ) (2,822 ) Income before income taxes attributable to Manning & Napier, Inc. 3,670 1,848 11,639 12,892 Less: provision (benefit) for income taxes of Manning & Napier, Inc. (c) 1,412 (1,694 ) 4,358 2,538 Net income attributable to Manning & Napier, Inc. $ 2,258 $ 3,542 $ 7,281 $ 10,354 ________________________ 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 $1.6 million and $4.8 million for the three and nine months ended September 30, 2016 , respectively and a benefit of $1.6 million and provision of $3.0 million for the three and nine months ended September 30, 2015 , respectively. A total of 65,784,571 units of Manning & Napier Group are held by the noncontrolling interests as of September 30, 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. On April 27, 2016, M&N Group Holdings and MNCC exchanged a total of 2,111,913 Class A units of Manning & Napier Group for approximately $16.1 million in cash. Subsequent to the exchange, the Class A units were retired. In addition, during the nine months ended September 30, 2016 , equity awards issued under the 2011 Equity Compensation Plan (the "Equity Plan") vested (Note 12) for which Manning & Napier, Inc. acquired an equivalent number of Class A units of Manning & Napier Group. These acquisitions of additional operating membership interests were treated as reorganizations of entities under common control as required by ASC 805 " Business Combination ". As a result of the aforementioned transactions, the Company's economic ownership in Manning & Napier Group increased to 17.4% . At September 30, 2016 and December 31, 2015 , the Company had recorded a liability of $38.7 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 other holders of Class A Units of Manning & Napier Group. Of these amounts, $2.4 million and $3.3 million were included in accrued expenses and other liabilities at September 30, 2016 and December 31, 2015 , respectively. The Company made payments of approximately $3.4 million and $2.1 million pursuant to the TRA during the nine months ended September 30, 2016 and 2015 , respectively. 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	9 Months Ended
	Sep. 30, 2016
Investments [Abstract]
Investment Securities	Investment Securities The following represents the Company’s investment securities holdings as of September 30, 2016 and December 31, 2015 : September 30, 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 $ — $ — $ 2,105 Trading securities Equity securities 7,422 Fixed income securities 7,754 Mutual funds 287 Mutual funds - consolidated funds 1,036 16,499 Total investment securities $ 18,604 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 for which the Company provides advisory services. At September 30, 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 $ 1.6 million of net unrealized gains and $ 2.4 million of net unrealized losses related to investments classified as trading during the nine months ended September 30, 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 September 30, 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 nine months ended September 30, 2016 and 2015 .

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company may enter 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 September 30, 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 nine months ended September 30, 2015 was approximately $238.5 million . The following table presents the gains (losses) recognized in net gains (losses) on investments in the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 (in thousands) Interest rate futures $ — $ (877 ) $ 494 $ (1,420 ) Index futures — (137 ) (37 ) (47 ) Commodity futures — (33 ) (13 ) (10 ) Currency futures — (117 ) (102 ) (58 ) Gains (losses) recognized, net $ — $ (1,164 ) $ 342 $ (1,535 ) 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 September 30, 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) September 30, 2016 $ — $ — $ — $ — $ — $ — December 31, 2015 $ (232 ) $ 288 $ 56 $ — $ — $ 56

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 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 measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015 : September 30, 2016 Level 1 Level 2 Level 3 Totals (in thousands) Equity securities $ 7,422 $ — $ — $ 7,422 Fixed income securities 1,147 6,607 — 7,754 Mutual funds 287 — — 287 Mutual funds - consolidated funds 1,036 — — 1,036 U.S. Treasury notes — 2,105 — 2,105 Total assets at fair value $ 9,892 $ 8,712 $ — $ 18,604 Contingent consideration liability $ — $ — $ 3,000 $ 3,000 Total liabilities at fair value $ — $ — $ 3,000 $ 3,000 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 Hedge funds — 2,654 — 2,654 U.S. Treasury notes — 2,099 — 2,099 Derivatives 288 — — 288 Total assets at fair value $ 11,486 $ 11,369 $ — $ 22,855 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. Contingent consideration was a component of the purchase price of Rainier. The contingent consideration is payable over a four year period upon Rainier’s achievement of certain financial targets. The fair value of the contingent consideration is calculated on a quarterly basis by forecasting Rainier’s adjusted earnings before interest, taxes and amortization ("EBITA") as defined by the purchase agreement over the contingency period with changes in the fair value included in other operating costs in the consolidated statements of operations. Significant unobservable inputs used in the valuation include adjusted EBITA growth of up to 63% and an earn-out payment discount rate of 3.1% over the contingency period. The changes in financial assets and (liabilities) measured at fair value using significant unobservable inputs (Level 3) for the nine months ended September 30, 2016 are presented in the table below: December 31, 2015 Purchases Sales Redemptions/ Settlements/ Other Transfers Realized and unrealized gains/(losses), net September 30, 2016 (in thousands) Contingent consideration liability $ — $ (3,500 ) n/a $ 500 n/a $ — $ (3,000 ) 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 nine months ended September 30, 2016 .

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 30, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities as of September 30, 2016 and December 31, 2015 consisted of the following: September 30, 2016 December 31, 2015 (in thousands) Accrued bonus and sales commissions $ 16,513 $ 22,584 Accrued payroll and benefits 3,481 2,844 Accrued sub-transfer agent fees 5,891 6,148 Dividends payable 2,405 2,361 Amounts payable under tax receivable agreement 2,447 3,278 Other accruals and liabilities 4,803 5,265 $ 35,540 $ 42,480

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 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 September 30, 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 September 30, 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	9 Months Ended
	Sep. 30, 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 September 30, 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	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2016 and 2015 under the two-class method: Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 (in thousands, except share data) Net income attributable to controlling and noncontrolling interests $ 19,985 $ 26,326 $ 63,867 $ 92,645 Less: net income attributable to noncontrolling interests 17,727 22,784 56,586 82,291 Net income attributable to Manning & Napier, Inc. $ 2,258 $ 3,542 $ 7,281 $ 10,354 Less: allocation to participating securities 158 247 480 482 Net income available to Class A common stock $ 2,100 $ 3,295 $ 6,801 $ 9,872 Weighted average shares of Class A common stock outstanding - basic 14,042,880 13,745,130 13,916,721 13,732,980 Dilutive effect from unvested equity awards 132,441 68,144,078 256,562 218,671 Weighted average shares of Class A common stock outstanding - diluted 14,175,321 81,889,208 14,173,283 13,951,651 Net income available to Class A common stock per share - basic $ 0.15 $ 0.24 $ 0.49 $ 0.72 Net income available to Class A common stock per share - diluted $ 0.15 $ 0.21 $ 0.48 $ 0.71 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 and nine months ended September 30, 2016 , 990,000 unvested equity awards were excluded from the calculation of diluted earnings per common share because the effect would have been anti-dilutive. For the three and nine months ended September 30, 2015 , 1,030,000 and 1,285,357 , respectively, unvested equity awards were excluded from the calculation of diluted earnings per common share because the effect would have been anti-dilutive. For the three and nine months ended September 30, 2015 , 181,378 unvested equity awards were also excluded from the calculation of diluted earnings per common share because the performance conditions associated with the vesting of such awards had not yet been satisfied. At September 30, 2016 and 2015 there were 65,784,571 and 67,896,484 Class A Units of Manning & Napier Group outstanding, respectively, 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 and nine months ended September 30, 2016 or for the nine months ended September 30, 2015 , because the effect would have been anti-dilutive.

Equity Based Compensation

Equity Based Compensation	9 Months Ended
	Sep. 30, 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. During the nine months ended September 30, 2016 , 72,410 equity awards were granted under the Equity Plan. These awards consisted of Class A common stock that vested immediately. The following table summarizes the equity award activity for the nine months ended September 30, 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 72,410 $ 8.38 Vested (409,479 ) $ 14.32 Forfeited (409,800 ) $ 10.85 Stock awards outstanding at September 30, 2016 1,284,760 $ 12.88 The weighted average grant date fair value of Equity Plan awards granted during the nine months ended September 30, 2016 and 2015 was $8.38 and $11.89 , respectively, based on the closing sale price of Manning & Napier Inc.'s Class A common stock as reported on the New York Stock Exchange on the date of grant, and, when applicable, reduced by the present value of the dividends expected to be paid on the underlying shares during the requisite service period. Restricted stock unit awards are not entitled to dividends declared on the underlying shares of Class A common stock until the awards vest. For the three and nine months ended September 30, 2016 , the Company recorded approximately $0.4 million and $2.5 million , respectively, of compensation expense related to awards under the Equity Plan. For the three and nine months ended September 30, 2015 , the Company recorded approximately $1.2 million and $3.8 million , respectively of compensation expense related to awards under the Equity Plan. As of September 30, 2016 , there was unrecognized compensation expense related to Equity Plan awards of approximately $10.3 million , which the Company expects to recognize over a weighted average period of approximately 4.1 years .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 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 September 30, Nine months ended September 30, 2016 2015 2016 2015 (in thousands) Earnings from continuing operations before income taxes $ 21,550 $ 24,726 $ 68,651 $ 95,605 Effective tax rate 7.3 % (6.5 )% 7.0 % 3.1 % Provision (benefit) for income taxes 1,565 (1,600 ) 4,784 2,960 Provision for income taxes 35% 7,543 8,654 24,028 33,462 Difference between tax at effective vs. statutory rate $ (5,978 ) $ (10,254 ) $ (19,244 ) $ (30,502 ) For the three and nine months ended months ended September 30, 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. For the three and nine months ended September 30, 2015 , the Company received an additional benefit of approximately $3.2 million resulting from the release of uncertain tax positions that increased the expected future tax benefits under the TRA.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 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 was approximately $0.1 million and fees waived was less than $0.1 million for the nine months ended September 30, 2016 . Affiliated fund transactions The Company has agreements to serve as the investment manager of Manning & Napier Fund, Inc. and Rainier Investment Management Mutual Funds, with which certain of its officers are affiliated. Under the terms of these agreements, the Company receives a fee based on an annual percentage of the average daily net assets of each series within the affiliated funds. The Company has contractually agreed to limit its fees and reimburse expenses to limit operating expenses incurred by certain of the affiliated fund series. The investment management and operating expense agreements are generally reviewed and continued annually by the affiliated funds' boards of directors.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Distributions and dividends On October 25, 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 $30.0 million , of which approximately $24.9 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 February 1, 2017 to shareholders of record as of January 13, 2017 .

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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. The Company changed its presentation of goodwill within its consolidated statements of financial condition from a component of total "Other long-term assets" to "Goodwill". Amounts for the comparative prior fiscal year period have been reclassified to conform to the current year presentation. This reclassification had no impact on previously reported total assets or financial position and does not represent a restatement of any previously published financial results. Other long-term assets at December 31, 2015 , previously reported as $1.3 million , is $0.4 million as reclassified. Goodwill at December 31, 2015 is $0.9 million as reclassified.
Revision of Previously Reported Consolidated Statements of Operations	Revision of Previously Reported Consolidated Statements of Operations In the quarter ended September 30, 2016, the Company revised its treatment of payments made to certain advisory clients, in accordance with Accounting Standard Codification ("ASC") 605-50, Revenue Recognition - Customer Payments and Incentives to properly present these payments as a reduction to revenue. The Company assessed the materiality of this item on its fiscal year ended December 31, 2015, and all prior and subsequent periods, and concluded that the reclassification was not material to any such periods. The statements of operations for the three and nine months ended September 30, 2015 included herein have been revised to reflect the proper presentation of investment management services revenue and distribution, servicing and custody expenses. The reclassification has no impact on operating income or net income.
Principles of Consolidation	Principles of Consolidation The Company consolidates all majority-owned subsidiaries. In addition, as of September 30, 2016 , Manning & Napier holds an economic interest of approximately 17.4% 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 Update ("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”), Exeter Trust Company Collective Investment Trusts (“CIT”), Rainier Investment Management Mutual Funds and Rainier Multiple Investment Trust. The Fund, CIT, Rainier Investment Management Mutual Funds and Rainier Multiple Investment Trust 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.
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 September 30, 2016 , trading securities consist solely of investments held by the Company to provide initial cash seeding for product development purposes.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill represents the excess cost over the fair value of the identifiable net assets of acquired companies. Identifiable intangible assets generally represent the cost of client relationships and investment management agreements acquired as well as trademarks. Goodwill and indefinite-lived assets are tested for impairment annually or more frequently if events or circumstances indicate that the carrying value may not be recoverable. Intangible assets subject to amortization are tested for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. Goodwill and intangible assets require significant management estimate and judgment, including the valuation and expected life determination in connection with the initial purchase price allocation and the ongoing evaluation for impairment.
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 September 30, 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 $24.8 million and $78.6 million for the three and nine months ended September 30, 2016 , respectively and $35.1 million and $121.5 million for the three and nine months ended September 30, 2015 , respectively. These amounts represent greater than 10% of the Company's revenue in each respective period.
Property and Equipment	Property and Equipment Property and equipment is presented net of accumulated depreciation of approximately $11.6 million and $8.7 million as of September 30, 2016 and December 31, 2015 , respectively.
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.

Summary of Significant Accoun25

Summary of Significant Accounting Policies Reclassification of payments made to certain advisory clients (Tables)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Reclassification of significant payments made to certain advisory clients	The impact is illustrated below: Three months ended September 30, 2015 Nine months ended September 30, 2015 (in thousands) Investment management services revenue, as previously reported $ 77,928 $ 255,327 Revision (2,493 ) (7,282 ) Investment management services revenue, as revised $ 75,435 $ 248,045 Distribution, servicing and custody expenses, as previously reported $ 13,620 $ 46,292 Revision (2,493 ) (7,282 ) Distribution, servicing and custody expenses, as revised $ 11,127 $ 39,010

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of preliminary allocation of purchase price to assets acquired and liabilities assumed	The following table summarizes the preliminary allocation of the April 30, 2016 purchase price to the assets acquired and liabilities assumed (in thousands): Assets acquired Current assets $ 6,998 Property and equipment, net 783 Intangible assets Client relationships 9,320 Trademarks 270 Goodwill 3,962 Total assets acquired 21,333 Liabilities assumed Accounts payable and accrued expenses 3,703 Other liabilities 1,204 Total liabilities assumed 4,907 Purchase price $ 16,426
Schedule of assumptions used for fair value of contingent consideration	A summary of various assumption values follows: Projected revenue growth up to 7.0% Projected EBITDA margins 12.4% to 29.3% Market price of risk 7.8% Earn-out payment discount rate 3.0% to 3.6%

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine months ended September 30, 2016 2015 2016 2015 (in thousands) Income before provision for income taxes $ 21,550 $ 24,726 $ 68,651 $ 95,605 Less: loss before provision for income taxes of Manning & Napier, Inc. (a) (95 ) (2,799 ) (114 ) (2,822 ) Income before provision for income taxes, as adjusted 21,645 27,525 68,765 98,427 Controlling interest percentage (b) 17.4 % 16.7 % 17.1 % 16.0 % Net income attributable to controlling interest 3,765 4,647 11,753 15,714 Plus: loss before provision for income taxes of Manning & Napier, Inc. (a) (95 ) (2,799 ) (114 ) (2,822 ) Income before income taxes attributable to Manning & Napier, Inc. 3,670 1,848 11,639 12,892 Less: provision (benefit) for income taxes of Manning & Napier, Inc. (c) 1,412 (1,694 ) 4,358 2,538 Net income attributable to Manning & Napier, Inc. $ 2,258 $ 3,542 $ 7,281 $ 10,354 ________________________ 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 $1.6 million and $4.8 million for the three and nine months ended September 30, 2016 , respectively and a benefit of $1.6 million and provision of $3.0 million for the three and nine months ended September 30, 2015 , respectively

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2016
Investments [Abstract]
Company's Investment Securities Holdings	The following represents the Company’s investment securities holdings as of September 30, 2016 and December 31, 2015 : September 30, 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 $ — $ — $ 2,105 Trading securities Equity securities 7,422 Fixed income securities 7,754 Mutual funds 287 Mutual funds - consolidated funds 1,036 16,499 Total investment securities $ 18,604 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)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 (in thousands) Interest rate futures $ — $ (877 ) $ 494 $ (1,420 ) Index futures — (137 ) (37 ) (47 ) Commodity futures — (33 ) (13 ) (10 ) Currency futures — (117 ) (102 ) (58 ) Gains (losses) recognized, net $ — $ (1,164 ) $ 342 $ (1,535 )
Offsetting of Managed Futures	The following table presents the offsetting of managed futures as of September 30, 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) September 30, 2016 $ — $ — $ — $ — $ — $ — December 31, 2015 $ (232 ) $ 288 $ 56 $ — $ — $ 56

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 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 measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015 : September 30, 2016 Level 1 Level 2 Level 3 Totals (in thousands) Equity securities $ 7,422 $ — $ — $ 7,422 Fixed income securities 1,147 6,607 — 7,754 Mutual funds 287 — — 287 Mutual funds - consolidated funds 1,036 — — 1,036 U.S. Treasury notes — 2,105 — 2,105 Total assets at fair value $ 9,892 $ 8,712 $ — $ 18,604 Contingent consideration liability $ — $ — $ 3,000 $ 3,000 Total liabilities at fair value $ — $ — $ 3,000 $ 3,000 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 Hedge funds — 2,654 — 2,654 U.S. Treasury notes — 2,099 — 2,099 Derivatives 288 — — 288 Total assets at fair value $ 11,486 $ 11,369 $ — $ 22,855 Derivatives $ 232 $ — $ — $ 232 Total liabilities at fair value $ 232 $ — $ — $ 232
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The changes in financial assets and (liabilities) measured at fair value using significant unobservable inputs (Level 3) for the nine months ended September 30, 2016 are presented in the table below: December 31, 2015 Purchases Sales Redemptions/ Settlements/ Other Transfers Realized and unrealized gains/(losses), net September 30, 2016 (in thousands) Contingent consideration liability $ — $ (3,500 ) n/a $ 500 n/a $ — $ (3,000 )

Accrued Expenses and Other Li31

Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities as of September 30, 2016 and December 31, 2015 consisted of the following: September 30, 2016 December 31, 2015 (in thousands) Accrued bonus and sales commissions $ 16,513 $ 22,584 Accrued payroll and benefits 3,481 2,844 Accrued sub-transfer agent fees 5,891 6,148 Dividends payable 2,405 2,361 Amounts payable under tax receivable agreement 2,447 3,278 Other accruals and liabilities 4,803 5,265 $ 35,540 $ 42,480

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2016 and 2015 under the two-class method: Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 (in thousands, except share data) Net income attributable to controlling and noncontrolling interests $ 19,985 $ 26,326 $ 63,867 $ 92,645 Less: net income attributable to noncontrolling interests 17,727 22,784 56,586 82,291 Net income attributable to Manning & Napier, Inc. $ 2,258 $ 3,542 $ 7,281 $ 10,354 Less: allocation to participating securities 158 247 480 482 Net income available to Class A common stock $ 2,100 $ 3,295 $ 6,801 $ 9,872 Weighted average shares of Class A common stock outstanding - basic 14,042,880 13,745,130 13,916,721 13,732,980 Dilutive effect from unvested equity awards 132,441 68,144,078 256,562 218,671 Weighted average shares of Class A common stock outstanding - diluted 14,175,321 81,889,208 14,173,283 13,951,651 Net income available to Class A common stock per share - basic $ 0.15 $ 0.24 $ 0.49 $ 0.72 Net income available to Class A common stock per share - diluted $ 0.15 $ 0.21 $ 0.48 $ 0.71

Equity Based Compensation (Tabl

Equity Based Compensation (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 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 72,410 $ 8.38 Vested (409,479 ) $ 14.32 Forfeited (409,800 ) $ 10.85 Stock awards outstanding at September 30, 2016 1,284,760 $ 12.88

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine months ended September 30, 2016 2015 2016 2015 (in thousands) Earnings from continuing operations before income taxes $ 21,550 $ 24,726 $ 68,651 $ 95,605 Effective tax rate 7.3 % (6.5 )% 7.0 % 3.1 % Provision (benefit) for income taxes 1,565 (1,600 ) 4,784 2,960 Provision for income taxes 35% 7,543 8,654 24,028 33,462 Difference between tax at effective vs. statutory rate $ (5,978 ) $ (10,254 ) $ (19,244 ) $ (30,502 )

Organization and Nature of th35

Organization and Nature of the Business (Details)	9 Months Ended
	Sep. 30, 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	17.40%
Majority Outside Ownership Interest in limited liability and limited partnership companies	81.60%
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	17.40%
Majority Outside Voting Rights in Limited Liability Company LLC or Limited Partnership companies	81.60%
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	17.40%
Majority Outside Economic Rights in Limited Liability Company LLC Or Limited Partnership Companies	81.60%

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Segment	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Other long-term assets	$ 9,467		$ 9,467		$ 429
Goodwill	4,843		$ 4,843		871
Number of segments | Segment			1
Trading securities, at fair value	16,499		$ 16,499		20,468
Fees earned for advisory related services provided to the Fund and CIT investment vehicles	24,800	$ 35,100	78,600	$ 121,500
Accumulated depreciation	11,600		11,600		8,700
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		1,300		1,200
Mutual Funds
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Trading securities, at fair value	287		287		116
Mutual Funds | Manning & Napier Fund
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Trading securities, at fair value	$ 287		$ 287		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)	17.40%		17.40%
Scenario, Previously Reported | Change in Presentation of Goodwill [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Other long-term assets					$ 1,300

Summary of Significant Accoun37

Summary of Significant Accounting Policies (Revision of Previously Reported Amounts) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Investment management services revenue	$ 63,305	$ 75,435	$ 189,852	$ 248,045
Distribution, servicing and custody expenses	$ 8,798	11,127	$ 26,590	39,010
Scenario, Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Investment management services revenue		77,928		255,327
Distribution, servicing and custody expenses		13,620		46,292
Correction of Presentation of Investment Management Services Revenue and Certain Expenses | Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Investment management services revenue		(2,493)		(7,282)
Distribution, servicing and custody expenses		$ (2,493)		$ (7,282)

Acquisitions (Textual) (Details

Acquisitions (Textual) (Details)	Apr. 30, 2016USD ($)Quarter	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Contingent consideration liability		$ 3,000,000
Goodwill		4,843,000	$ 871,000
Rainier Investment Management, LLC
Business Acquisition [Line Items]
Percentage of interests acquired	75.00%
Noncontrolling interest ownership percentage	25.00%
Payments to acquire business	$ 13,000,000
Contingent additional payment, term	4 years
Liability for contingent consideration recognized	$ 3,500,000	3,000,000
Goodwill	$ 3,962,000
Noncontrolling interest, ownership service-based vesting period	5 years
Number of quarters financial results in ownership repurchase condition | Quarter	4
Repurchase of acquiree's noncontrolling ownership, amount	$ 0	100,000
Maximum | Rainier Investment Management, LLC
Business Acquisition [Line Items]
Contingent consideration liability	32,500,000
Other Current Liabilities | Rainier Investment Management, LLC
Business Acquisition [Line Items]
Liability for contingent consideration recognized		$ 400,000
Customer Relationships for Separately Managed Accounts | Rainier Investment Management, LLC
Business Acquisition [Line Items]
Business combination, intangible assets	$ 1,500,000
Acquired intangible assets, weighted average useful life	6 years
Customer Relationships for Mutual Funds and Collective Investment Trusts | Rainier Investment Management, LLC
Business Acquisition [Line Items]
Business combination, intangible assets	$ 7,800,000

Acquisitions (Purchase Price Al

Acquisitions (Purchase Price Allocation) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Apr. 30, 2016	Dec. 31, 2015
Intangible assets
Goodwill	$ 4,843		$ 871
Rainier Investment Management, LLC
Assets acquired
Current assets		$ 6,998
Property and equipment, net		783
Intangible assets
Goodwill		3,962
Total assets acquired		21,333
Liabilities assumed
Accounts payable and accrued expenses		3,703
Other liabilities		1,204
Total liabilities assumed		4,907
Purchase price		16,426
Client relationships | Rainier Investment Management, LLC
Intangible assets
Intangible Assets		9,320
Trademarks | Rainier Investment Management, LLC
Intangible assets
Intangible Assets		$ 270

Acquisitions (Assumptions Used)

Acquisitions (Assumptions Used) (Details) - Rainier Investment Management, LLC	Sep. 30, 2016	Apr. 30, 2016
Business Acquisition [Line Items]
Growth rates earn-out period		4 years
Earn-out payment discount rate	3.10%
Fair value Inputs, Market Price of Risk		7.80%
Minimum
Business Acquisition [Line Items]
Projected EBITDA margins		12.40%
Earn-out payment discount rate		3.00%
Maximum
Business Acquisition [Line Items]
Projected revenue growth		7.00%
Projected EBITDA margins		29.30%
Earn-out payment discount rate		3.60%

Noncontrolling Interests (Recon

Noncontrolling Interests (Reconciliation of Income) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Noncontrolling Interest [Abstract]
Income before provision for income taxes		$ 21,550	$ 24,726	$ 68,651	$ 95,605
Less: gain (loss) before provision for income taxes of Manning & Napier, Inc.	[1]	(95)	(2,799)	(114)	(2,822)
Income before provision for income taxes, as adjusted		$ 21,645	$ 27,525	$ 68,765	$ 98,427
Controlling interest percentage	[2]	17.40%	16.70%	17.10%	16.00%
Net income attributable to controlling interest		$ 3,765	$ 4,647	$ 11,753	$ 15,714
Plus: gain (loss) before provision for income taxes of Manning & Napier, Inc.	[1]	(95)	(2,799)	(114)	(2,822)
Income before income taxes attributable to Manning & Napier, Inc.		3,670	1,848	11,639	12,892
Less: provision for income taxes of Manning & Napier, Inc.	[3]	1,412	(1,694)	4,358	2,538
Net income attributable to Manning & Napier, Inc.		2,258	3,542	7,281	10,354
Provision (benefit) for income taxes		$ 1,565	$ (1,600)	$ 4,784	$ 2,960
[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 $1.6 million and $4.8 million for the three and nine months ended September 30, 2016, respectively and a benefit of $1.6 million and provision of $3.0 million for the three and nine months ended September 30, 2015, respectively

Noncontrolling Interests (Textu

Noncontrolling Interests (Textual) (Detail) - USD ($)	Apr. 27, 2016	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Payments to Acquire Interest in Subsidiaries and Affiliates		$ 16,135,000	$ 37,720,000
Payments due to selling unit holders		38,700,000		$ 41,900,000
Amounts payable under tax receivable agreement		2,447,000		$ 3,278,000
Payment pursuant to the TRA		$ 3,376,984.6	$ 2,100,212
Manning & Napier Group, LLC
Noncontrolling Interest [Line Items]
Percentage of economic interest in Manning & Napier Group held by Manning & Napier, Inc (percent)		17.40%
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests, Shares	2,111,913
Payments to Acquire Interest in Subsidiaries and Affiliates	$ 16,100,000
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)		82.60%
Class A units | Class A Units
Noncontrolling Interest [Line Items]
Number of common units available for conversion		65,784,571	67,896,484

Investment Securities (Company'

Investment Securities (Company's Investment Securities Holdings) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Investment Holdings [Line Items]
Trading securities, at fair value	$ 16,499	$ 20,468
Total investment securities	$ 18,604	$ 22,567
U.S. Treasury notes (0.35%, 10/31/2016)
Investment Holdings [Line Items]
U.S. Treasury Note Interest Rate	0.35%	0.35%
Cost	$ 2,105	$ 2,105
Unrealized Gains	0	0
Unrealized Losses	0	(6)
Fair Value	2,105	2,099
Equity securities
Investment Holdings [Line Items]
Trading securities, at fair value	7,422	8,967
Fixed income securities
Investment Holdings [Line Items]
Trading securities, at fair value	7,754	7,624
Mutual Funds
Investment Holdings [Line Items]
Trading securities, at fair value	287	116
Mutual funds - consolidated funds
Investment Holdings [Line Items]
Trading securities, at fair value	1,036	1,107
Hedge Funds
Investment Holdings [Line Items]
Trading securities, at fair value		2,654
Manning & Napier Fund | Mutual Funds
Investment Holdings [Line Items]
Trading securities, at fair value	287	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	6,607	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]
Trading securities, at fair value	$ 0	0
Level 2 | Hedge Funds
Investment Holdings [Line Items]
Trading securities, at fair value		$ 2,654

Investment Securities (Textual)

Investment Securities (Textual) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Investments [Abstract]
Recognized net unrealized gains (loss) on trading securities	$ 1,600,000	$ 2,400,000
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	9 Months Ended
	Feb. 04, 2016	Sep. 30, 2015	Sep. 30, 2016	Dec. 31, 2015
Future
Derivative [Line Items]
Asset Derivative			$ 0	$ 288
Liability Derivative			$ 0	(232)
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Notional Amount				137,546
Asset Derivative				288
Liability Derivative				(232)
Not Designated as Hedging Instrument | Future
Derivative [Line Items]
Derivative, Weighted Average Volume	$ 127,800	$ 238,500
Not Designated as Hedging Instrument | Interest Rate Contract | Future
Derivative [Line Items]
Derivative, Notional Amount				124,470
Asset Derivative				169
Liability Derivative				(112)
Not Designated as Hedging Instrument | Index Contract | Future
Derivative [Line Items]
Derivative, Notional Amount				3,715
Asset Derivative				57
Liability Derivative				(47)
Not Designated as Hedging Instrument | Commodity Contract | Future
Derivative [Line Items]
Derivative, Notional Amount				2,440
Asset Derivative				27
Liability Derivative				(30)
Not Designated as Hedging Instrument | Currency Contract | Future
Derivative [Line Items]
Derivative, Notional Amount				6,921
Asset Derivative				35
Liability Derivative				$ (43)

Derivative Instruments - Deri46

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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 0	$ (1,164)	$ 342	$ (1,535)
Future | Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	(877)	494	(1,420)
Future | Index Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	(137)	(37)	(47)
Future | Commodity Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	(33)	(13)	(10)
Future | Currency Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 0	$ (117)	$ (102)	$ (58)

Derivative Instruments - Deri47

Derivative Instruments - Derivative Instruments - Offsetting (Details) - Future - USD ($) $ in Thousands	Sep. 30, 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 (Financ

Fair Value Measurements (Financial instruments measured at fair value on a recurring basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Apr. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	$ 16,499		$ 20,468
Derivatives			288
Total assets at fair value	18,604		22,855
Derivatives			232
Contingent consideration liability	3,000
Total liabilities at fair value	3,000		232
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	7,422		8,967
Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	7,754		7,624
Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	287		116
Mutual funds - consolidated funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	1,036		1,107
Hedge Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value			2,654
Us Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury notes	2,105		2,099
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives			288
Total assets at fair value	9,892		11,486
Derivatives			232
Contingent consideration liability	0
Total liabilities at fair value	0		232
Level 1 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	7,422		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	1,147		1,008
Level 1 | Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	287		116
Level 1 | Mutual funds - consolidated funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	1,036		1,107
Level 1 | Hedge Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value			0
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
Total assets at fair value	8,712		11,369
Derivatives			0
Contingent consideration liability	0
Total liabilities at fair value	0		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	6,607		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]
Trading securities, at fair value	0		0
Level 2 | Hedge Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value			2,654
Level 2 | Us Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury notes	2,105		2,099
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives			0
Total assets at fair value	0		0
Derivatives			0
Contingent consideration liability	3,000
Total liabilities at fair value	3,000		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]
Trading securities, at fair value	0		0
Level 3 | Hedge Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value			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
Rainier Investment Management, LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent additional payment, term		4 years
Earn-out payment discount rate	3.10%
Maximum | Rainier Investment Management, LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability		$ 32,500
Adjusted EBITDA growth rate	63.00%
Earn-out payment discount rate		3.60%

Fair Value Measurements (Change

Fair Value Measurements (Changes in financial assets and liabilities measured at fair value using significant unobservable inputs) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
December 31, 2015	$ 0
Purchases	(3,500)
Redemptions/ Settlements/ Other	500
Realized and unrealized gains/(losses), net	0
September 30, 2016	$ (3,000)

Accrued Expenses and Other Li50

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts Payable and Accrued Liabilities [Abstract]
Accrued bonus and sales commissions	$ 16,513	$ 22,584
Accrued payroll and benefits	3,481	2,844
Accrued sub-transfer agent fees	5,891	6,148
Dividends payable	2,405	2,361
Amounts payable under tax receivable agreement	2,447	3,278
Other accruals and liabilities	4,803	5,265
Accrued expenses and other liabilities	$ 35,540	$ 42,480

Borrowings (Details)

Borrowings (Details) - USD ($)	Apr. 23, 2015	Sep. 30, 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to controlling and noncontrolling interests	$ 19,985	$ 26,326	$ 63,867	$ 92,645
Less: net income attributable to noncontrolling interests	17,727	22,784	56,586	82,291
Net income attributable to Manning & Napier, Inc.	2,258	3,542	7,281	10,354
Less: allocation to participating securities	158	247	480	482
Net income available to Class A common stock	$ 2,100	$ 3,295	$ 6,801	$ 9,872
Weighted average shares of Class A common stock outstanding - basic (in shares)	14,042,880	13,745,130	13,916,721	13,732,980
Dilutive effect from unvested equity awards (in shares)	132,441	68,144,078	256,562	218,671
Weighted average shares of Class A common stock outstanding - diluted (in shares)	14,175,321	81,889,208	14,173,283	13,951,651
Net income available to Class A common stock per share - basic (in dollars per share)	$ 0.15	$ 0.24	$ 0.49	$ 0.72
Net income available to Class A common stock per share - diluted (in dollars per share)	$ 0.15	$ 0.21	$ 0.48	$ 0.71
Antidilutive securities excluded from computation of earnings per share (in shares)	990,000	1,030,000	990,000	1,285,357
Class A units | Class A Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of common units available for conversion	65,784,571	67,896,484	65,784,571	67,896,484
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		181,378
Performance Shares [Member] | Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)				181,378

Equity Based Compensation (Rest

Equity Based Compensation (Restricted Stock Awards) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Stock Units
Stock unit awards, beginning balance (shares)	2,031,629
Granted (shares)	72,410
Vested (shares)	(409,479)
Forfeited (shares)	(409,800)
Stock unit awards, ending balance (shares)	1,284,760
Weighted Average Grant Date Fair Value
Stock unit awards, beginning balance, weighted average grant date fair value (dollars per share)	$ 12.92
Granted, weighted average grant date fair value (dollars per share)	8.38	$ 11.89
Vested, weighted average grant date fair value (dollars per share)	14.32
Forfeited, weighted average grant date fair value (dollars per share)	10.85
Stock unit awards, ending balance, weighted average grant date fair value (dollars per share)	$ 12.88

Equity Based Compensation (Text

Equity Based Compensation (Textual) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			72,410
Granted, weighted average grant date fair value (dollars per share)			$ 8.38	$ 11.89
2011 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	13,142,813		13,142,813
Share-based compensation expense	$ 0.4	$ 1.2	$ 2.5	$ 3.8
Unrecognized compensation expense related to unvested awards	$ 10.3		$ 10.3
Weighted average period of unrecognized compensation expense (years)			4 years 1 month

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Earnings from continuing operations before income taxes	$ 21,550	$ 24,726	$ 68,651	$ 95,605
Effective Tax Rate (percent)	7.30%	(6.50%)	7.00%	3.10%
Provision (benefit) for income taxes	$ 1,565	$ (1,600)	$ 4,784	$ 2,960
Provision for income taxes @ 35%	7,543	8,654	24,028	33,462
Difference between tax at effective vs. statutory rate	$ (5,978)	$ (10,254)	$ (19,244)	$ (30,502)
Effective income tax rate, federal statutory income tax rate (percent)	35.00%	35.00%	35.00%	35.00%
Increase in deferred tax asset related to TRA		$ 3,200		$ 3,200

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Related Party Transactions [Abstract]
Related party transaction, fees earned	$ 0.1
Related party transaction, fees waived (less than $0.1 million)	$ 0.1

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 25, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Subsequent Event [Line Items]
Distribution payable to noncontrolling interests				$ 34,153	$ 79,029
Per share dividend declared to the holders of Class A common stock		$ 0.16	$ 0.16	$ 0.48	$ 0.48
Class A common stock
Subsequent Event [Line Items]
Per share dividend declared to the holders of Class A common stock				$ 0.48	$ 0.48
Subsequent Event
Subsequent Event [Line Items]
Distribution payable to noncontrolling interests	$ 24,900
Manning & Napier Group, LLC | Subsequent Event
Subsequent Event [Line Items]
Amount approved for distribution to members of Manning & Napier Group	$ 30,000
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