Manning & Napier (MN) 10-Q 10 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 04, 2018
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	MN
Entity Registrant Name	Manning & Napier, Inc.
Entity Central Index Key	1,524,223
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,325,688

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 69,455	$ 78,262
Accounts receivable	13,521	15,337
Investment securities	69,103	70,404
Prepaid expenses and other assets	5,727	4,870
Total current assets	157,806	168,873
Property and equipment, net	5,183	5,407
Net deferred tax assets, non-current	22,792	23,298
Goodwill	4,829	4,829
Other long-term assets	4,370	2,773
Total assets	194,980	205,180
Liabilities
Accounts payable	1,716	1,612
Accrued expenses and other liabilities	20,531	32,347
Deferred revenue	10,282	10,213
Total current liabilities	32,529	44,172
Other long-term liabilities	3,382	3,370
Amounts payable under tax receivable agreement, non-current	18,987	19,278
Total liabilities	54,898	66,820
Commitments and contingencies (Note 8)
Shareholders’ equity
Class A common stock, $0.01 par value; 300,000,000 shares authorized; 15,263,565 and 15,039,347 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	153	150
Additional paid-in capital	198,407	198,641
Retained deficit	(38,165)	(38,424)
Accumulated other comprehensive income (loss)	(113)	(86)
Total shareholders’ equity	160,282	160,281
Noncontrolling interests	(20,200)	(21,921)
Total shareholders’ equity and noncontrolling interests	140,082	138,360
Total liabilities, shareholders’ equity and noncontrolling interests	$ 194,980	$ 205,180

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parenthetical) - Class A common stock - $ / shares	Mar. 31, 2018	Dec. 31, 2017
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)	15,263,565	15,039,347
Common stock, shares outstanding (shares)	15,263,565	15,039,347

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Management Fees
Separately managed accounts	$ 25,355	$ 29,939
Mutual funds and collective investment trusts	10,980	19,285
Distribution and shareholder servicing	3,178	3,040
Custodial services	1,922	2,345
Other revenue	789	876
Total revenue	42,224	55,485
Expenses
Compensation and related costs	23,773	23,381
Distribution, servicing and custody expenses	4,781	7,411
Other operating costs	6,454	7,978
Total operating expenses	35,008	38,770
Operating income	7,216	16,715
Non-operating income (loss)
Interest expense	(9)	(10)
Interest and dividend income	502	180
Change in liability under tax receivable agreement	291	0
Net gains (losses) on investments	(249)	972
Total non-operating income (loss)	535	1,142
Income before provision for income taxes	7,751	17,857
Provision for income taxes	478	1,343
Net income attributable to controlling and noncontrolling interests	7,273	16,514
Less: net income attributable to noncontrolling interests	6,059	14,617
Net income attributable to Manning & Napier, Inc.	$ 1,214	$ 1,897
Net income per share available to Class A common stock
Basic (in dollars per share)	$ 0.08	$ 0.13
Diluted (in dollars per share)	$ 0.07	$ 0.13
Weighted average shares of Class A common stock outstanding
Basic (in shares)	14,313,549	14,042,880
Diluted (in shares)	78,283,583	14,216,988
Cash dividends declared per share of Class A common stock	$ 0.08	$ 0.08

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income attributable to controlling and noncontrolling interests	$ 7,273	$ 16,514
Net unrealized holding gain (loss) on investment securities, net of tax	(147)	(6)
Comprehensive income attributable to controlling and noncontrolling interests	7,126	16,508
Less: Comprehensive income attributable to noncontrolling interests	5,939	14,611
Comprehensive income attributable to Manning & Napier, Inc.	$ 1,187	$ 1,897

Consolidated Statements of Shar

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 Interests
Beginning balance at Dec. 31, 2016	$ 134,478	$ 150	$ 0	$ 200,158	$ (37,383)	$ (13)	$ (28,434)
Beginning balance, Shares at Dec. 31, 2016		14,982,880	1,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to controlling and noncontrolling interests	16,514				1,897		14,617
Distributions to noncontrolling interests	(9,857)						(9,857)
Net changes in unrealized investment securities gains or losses	(6)					(6)
Equity-based compensation	775			135			640
Dividends declared on Class A common stock - $0.08 and $0.08 per share for three months ended March 31, 2017 and 2018	(1,199)				(1,199)
Impact of changes in ownership of Manning & Napier Group, LLC	(9,803)			(1,858)			(7,945)
Ending balance at Mar. 31, 2017	130,902	$ 150	$ 0	198,435	(36,685)	(19)	(30,979)
Ending balance, Shares at Mar. 31, 2017		14,982,880	1,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of change in accounting, net of taxes (Note 3)	1,490				266		1,224
Beginning balance at Dec. 31, 2017	138,360	$ 150	$ 0	198,641	(38,424)	(86)	(21,921)
Beginning balance, Shares at Dec. 31, 2017		15,039,347	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to controlling and noncontrolling interests	7,273				1,214		6,059
Distributions to noncontrolling interests	(4,908)						(4,908)
Net changes in unrealized investment securities gains or losses	(147)					(27)	(120)
Common stock issued under equity compensation plan (in shares)		224,218
Common stock issued under equity compensation plan	0	$ 3		(3)
Equity-based compensation	1,153			209			944
Dividends declared on Class A common stock - $0.08 and $0.08 per share for three months ended March 31, 2017 and 2018	(1,221)				(1,221)
Impact of changes in ownership of Manning & Napier Group, LLC	(1,918)			(440)			(1,478)
Ending balance at Mar. 31, 2018	$ 140,082	$ 153	$ 0	$ 198,407	$ (38,165)	$ (113)	$ (20,200)
Ending balance, Shares at Mar. 31, 2018		15,263,565	0

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash dividends declared per share of Class A common stock	$ 0.08	$ 0.08
Class A common stock
Cash dividends declared per share of Class A common stock	$ 0.08	$ 0.08

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income attributable to controlling and noncontrolling interests	$ 7,273	$ 16,514
Adjustment to reconcile net income to net cash provided by operating activities:
Equity-based compensation	1,153	775
Depreciation and amortization	557	439
Change in amounts payable under tax receivable agreement	(291)	0
Gain on sale of intangible assets	(2,388)	0
Net (gains) losses on investment securities	249	(972)
Deferred income taxes	437	1,050
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:
Accounts receivable	1,816	1,702
Prepaid expenses and other assets	(426)	442
Other long-term assets	(479)	0
Accounts payable	104	(32)
Accrued expenses and other liabilities	(11,617)	(12,034)
Deferred revenue	69	(88)
Other long-term liabilities	(173)	(226)
Net cash (used in) provided by operating activities	(3,716)	7,570
Cash flows from investing activities:
Purchase of property and equipment	(321)	(191)
Sale of investments	1,380	3,338
Purchase of investments	(12,237)	(12,208)
Sale of intangible assets	2,388	0
Proceeds from maturity of investments	11,761	3,686
Net cash provided by (used in) investing activities	2,971	(5,375)
Cash flows from financing activities:
Distributions to noncontrolling interests	(4,908)	0
Dividends paid on Class A common stock	(1,203)	(2,397)
Payment of capital lease obligations	(33)	(49)
Purchase of Class A units of Manning & Napier Group, LLC	(1,918)	0
Net cash used in financing activities	(8,062)	(2,446)
Net increase (decrease) in cash and cash equivalents	(8,807)	(251)
Cash and cash equivalents:
Beginning of period	78,262	100,819
End of period	$ 69,455	$ 100,568

Organization and Nature of the

Organization and Nature of the Business	3 Months Ended
	Mar. 31, 2018
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 U.S. and non-U.S. equity, fixed income and a range of blended asset portfolios, such as life cycle funds and actively-managed exchange-traded fund ("ETF")-based portfolios. Headquartered in Fairport, New York, the Company serves a diversified client base of high net worth individuals and institutions, including 401(k) plans, pension plans, Taft-Hartley plans, endowments and foundations. The Company is the sole managing member of Manning & Napier Group, LLC and its subsidiaries ("Manning & Napier Group"), a holding company for the investment management businesses conducted by its operating subsidiaries. The diagram below depicts the Company's organization structure as of March 31, 2018 . (1) The consolidated operating subsidiaries of Manning & Napier Group include Manning & Napier Advisors, LLC ("MNA"), 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	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Critical Accounting Policies The Company's critical accounting policies and estimates are disclosed in its Annual Report on Form 10-K for the year ended December 31, 2017 . 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 the Company's Annual Report on Form 10-K for the year ended December 31, 2017 . The financial data for the interim periods may not necessarily be indicative of results for future interim periods or for the full year. Changes to the Company's accounting policies as a result of adopting ASU 2014-09, Revenue from Contracts with Customers (Topic 606) are discussed under "Revenue", "Costs to Obtain a Contract" and "Reclassifications" below. Revenue Investment Management: Investment management fees are computed as a percentage of assets under management ("AUM"). The Company's performance obligation is a series of services that form part of a single obligation satisfied over time. Separately managed accounts are paid 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 as a contract liability and recognizes it over the applicable period. When investment management fees are paid in arrears, the Company estimates revenue and records a contract asset (accrued accounts receivable) based on AUM as of the most recent month end date. Mutual funds and collective investment trust investment management revenue is calculated and earned daily based on AUM. Revenue is presented net of cash rebates and fees waived pursuant to contractual expense limitations of the funds. The Company also has agreements with third parties who provide recordkeeping and administrative services for employee benefit plans participating in the collective investment trusts. The Company is acting as an agent on behalf of the employee benefit plan sponsors, therefore, investment management revenue is recorded net of fees paid to third party service providers. Distribution and shareholder servicing: The Company receives distribution and servicing fees for providing services to its affiliated mutual funds. Revenue is computed and earned daily based on a percentage of AUM. The performance obligation is a series of services that form part of a single performance obligation satisfied over time. The Company has agreements with third parties who provide distribution and administrative services for its mutual funds. The agreements are evaluated to determine whether revenue should be reported gross or net of payments to third-party service providers. The Company controls the services provided and acts as a principal in the relationship. Therefore, distribution and shareholder servicing revenue is recorded gross of fees paid to third parties. Custodial services: Custodial service fees are calculated as a percentage of the client’s market value with additional fees charged for certain transactions. For the safeguarding and administrative services that are subject to a percentage of market value fee, the Company's performance obligation is a series of services that form part of a single obligation satisfied over time. Revenue for transactions assigned a stand-alone selling price is recognized in the period which the transaction is executed. Custodial service fees are billed monthly in arrears. The Company has agreements with third parties who provide safeguarding, recordkeeping and administrative services for their clients. The Company controls the services provided and acts as a principal in the relationship. Therefore, custodial service revenue is recorded gross of fees paid to third parties. Costs to Obtain a Contract Incremental first year commissions directly associated with new separate account and collective investment trust contracts are capitalized and amortized straight-line over the estimated customer contract period of 7 years for separate accounts and 3 years for collective investment trust contracts. Refer to Note 3 for further discussion. 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. Reclassifications The Company changed the presentation of revenue within its consolidated statements of operations for the three months ended March 31, 2018. Revenue, previously reported as a single line item, has been disaggregated to present revenue by the various services the Company provides. Amounts for the comparative prior periods have been reclassified to conform to the current period presentation. These reclassifications had no impact on previously reported net income or financial position and do not represent a restatement of any previously published financial results. Prior to March 31, 2018 the Company presented "Accounts receivable - affiliated mutual funds" on its consolidated statements of financial condition. Further disclosure regarding accounts receivable from affiliated mutual funds and the components of accounts receivable as of March 31, 2018 is included in "Accounts Receivable" in Note 3 of the notes to the consolidated financial statements. Amounts for the comparative prior fiscal year periods have been reclassified to conform to the current period presentation. These reclassifications had no impact on previously reported net income and do not represent a restatement of any previously published financial results. Principles of Consolidation The Company consolidates all majority-owned subsidiaries. In addition, as of March 31, 2018 , Manning & Napier holds an economic interest of approximately 18.2% 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”). When utilizing the voting interest entity ("VOE") model, controlling financial interest is generally defined as majority ownership of voting interests. The Company provides seed capital to its investment teams to develop new products and services for its clients. The original seed investment may be held in a separately managed account, comprised solely of the Company's investments or within a mutual fund, where the Company's investments may represent all or only a portion of the total equity investment in the mutual fund. Pursuant to U.S. GAAP, the Company evaluates its investments in mutual funds on a regular basis and consolidates such mutual funds for which it holds a controlling financial interest. When no longer deemed to hold a controlling financial interest, the Company would deconsolidate the fund and classify the remaining investment as either an equity method investment or as trading securities, as applicable. 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”) and Rainier Multiple Investment Trust. The Fund, CIT 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 VOE. The Company holds, in limited cases, direct investments in a mutual fund (which are made on the same terms as are available to other investors) and consolidates each of these entities where it has a controlling financial interest or a majority voting interest. The Company's investments in the Fund amounted to approximately $1.4 million as of March 31, 2018 and $2.6 million as of December 31, 2017 . As of December 31, 2017 , the Company maintained significant influence in one mutual fund, Manning & Napier Fund, Inc. Quality Equity Series, but did not maintain a controlling financial interest in the mutual fund, which was accounted for as an equity method investment. As of March 31, 2018, the Company no longer maintained an investment in the mutual fund. Cash and Cash Equivalents The Company generally 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, equity method investments 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. Realized and unrealized gains and losses on trading securities are recorded in net gains (losses) on investments in the consolidated statements of operations. At March 31, 2018 , trading securities consist solely of investments held by the Company to provide initial cash seeding for product development purposes. Investments classified as equity method investments represent seed investments in which the Company owns between 20-50% of the outstanding voting interests in the affiliated fund or when it is determined that the Company is able to exercise significant influence but not control over the investments. If the seed investment results in significant influence, but not control, the investment will be accounted for as an equity method investment. When using the equity method, the Company recognizes its share of the investee's net income or loss for the period which is recorded in net gains (losses) on investments in the consolidated statements of operations. Investment securities classified as available-for-sale consist of U.S. Treasury notes, corporate bonds and other short-term investments. Unrealized gains and losses on available-for-sale securities are excluded from earnings and are reported, net of deferred income tax, as a separate component of accumulated other comprehensive income in stockholders’ equity until realized. The Company periodically reviews each individual security position that has an unrealized loss, or impairment, to determine if that impairment is other-than-temporary. If impairment is determined to be other-than-temporary, the carrying value of the security will be written down to fair value and the loss will be recognized in earnings. Realized gains and losses on sales of available-for-sale securities are computed on a specific identification basis and are recorded in net gains (losses) on investments in the consolidated statements of operations. Property and Equipment Property and equipment is presented net of accumulated depreciation of approximately $11.6 million and $11.4 million as of March 31, 2018 and December 31, 2017 , respectively. 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. On January 16, 2018, the Company sold a Rainier U.S. mutual fund to a third party for approximately $2.1 million , based on total assets under management on the closing date of approximately $0.3 billion . The carrying value of the intangible assets for client relationships associated with these products was zero as a result of the impairment loss recognized in 2016. During the first quarter of 2018, the Company recognized a gain of approximately $2.1 million for the sale of this fund, as included in other operating costs in the consolidated statements of operations. Operating Segments The Company operates in one segment, the investment management industry. Recently Adopted Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The revenue standard contains principals to determine the measurement of revenue and timing of recognition and also impacts the accounting for incremental costs to obtain a contract. The Company adopted the new standard on its effective date of January 1, 2018. Refer to Note 3 for further discussion regarding the impact of adoption. 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. The guidance is effective on January 1, 2018. The Company's adoption of ASU 2016-01 on January 1, 2018 did not have a material impact on its consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments , to clarify guidance on the classification of certain cash receipts and cash payments in the statement of cash flows. The FASB issued the ASU with the intent of reducing diversity in practice regarding eight types of cash flows. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. The Company's adoption of ASU 2016-15 on January 1, 2018 did not have a material impact on its consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted 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 January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment , which simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. The ASU requires goodwill impairments to be measured on the basis of the fair value of the reporting unit relative to the reporting unit's carrying amount rather than on the basis of the implied amount of goodwill relative to the goodwill balance of the reporting unit. The ASU is effective for annual and interim impairment tests for periods beginning after December 15, 2019. Early adoption is allowed for annual and interim impairment tests occurring after January 1, 2017. The Company is evaluating the effect of adopting this new accounting standard. In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The ASU requires a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the newly enacted federal corporate income tax rate as a result of the Tax Cuts and Jobs Act. The amount of the reclassification is the difference between the historical corporate income tax rate and the newly enacted 21% corporate income tax rate. The ASU will be effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting standard.

Revenue, Contract Assets and Co

Revenue, Contract Assets and Contract Liabilities	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue, Contract Assets and Contract Liabilities	Note 3—Revenue, Contract Assets and Contract Liabilities Adoption of ASU 2014-09, Revenue from Contracts with Customers (Topic 606) On January 1, 2018, the Company adopted Topic 606 using the modified retrospective approach with the cumulative effect of initial application recognized January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with the Company's historic accounting policies under Topic 605. The Company elected the practical expedient to adjust for active contracts that existed at the date of adoption. A reduction to opening shareholders' equity and noncontrolling interests of $1.5 million , net of taxes, as of January 1, 2018 has been recorded due to the cumulative impact of adopting Topic 606 related to the capitalization of incremental contract costs. While there were no changes in the timing of revenue recognition, upon the adoption of Topic 606 the Company changed the presentation of certain revenue related costs on a gross versus net basis. The changes did not have a significant impact to total revenue, distribution, servicing and custody expenses and other operating costs, and had no impact on net income. Changes in the presentation of revenue related costs on a gross versus net basis are summarized below: • Fees in the amount of $0.7 million for the three months ended March 31, 2018 due to third parties who provide record-keeping and administrative services for employee benefit plans participating in the Company's collective investment trusts are presented net as a reduction of mutual fund and collective investment trust revenue. Prior to the adoption of Topic 606 third party record-keeper fees associated with the Company's collective investment trusts were reported as distribution, servicing and custody expense. • Fees in the amount of $0.6 million for the three months ended March 31, 2018 due to a third party who provides accounting and administrative on behalf of the Company to its affiliated mutual fund are presented as other operating costs. Prior to the adoption of Topic 606, these fees were presented as a reduction of other revenue. • Fees in the amount of $0.1 million for the three months ended March 31, 2018 due to a third party who provides safeguarding and administrative services on behalf of the Company are presented as distribution, servicing and custody expense. Prior to the adoption of Topic 606, these fees were presented as a reduction of custodial service revenue. Disaggregated Revenue The following table represents the Company’s separately managed account and mutual fund and collective investment trust investment management revenue by investment portfolio for the three months ended March 31, 2018 and 2017 : Three months ended March 31, 2018 Three months ended March 31, 2017 (1) Separately managed accounts Mutual funds and collective investment trusts Total Separately managed accounts Mutual funds and collective investment trusts Total (in thousands) Blended Asset $ 18,309 $ 6,452 $ 24,761 $ 20,082 $ 12,269 $ 32,351 Equity 6,356 4,488 10,844 9,107 6,931 16,038 Fixed Income 690 40 730 750 85 835 Total $ 25,355 $ 10,980 $ 36,335 $ 29,939 $ 19,285 $ 49,224 ______________________ (1) As noted above, prior period amounts have not been modified under the modified retrospective method. Accounts Receivable Accounts receivable as of March 31, 2018 and December 31, 2017 consisted of the following: March 31, 2018 December 31, 2017 (in thousands) Accounts receivable - third parties $ 6,101 $ 7,278 Accounts receivable - affiliated mutual funds and collective investment trusts 7,420 8,059 Total accounts receivable $ 13,521 $ 15,337 Accounts receivable : Accounts receivable represents the Company's unconditional rights to consideration arising from its performance under separately managed account, mutual fund and collective investment trust, distribution and shareholder servicing, and custodial service contracts. Accounts receivable balances do not include an allowance for doubtful accounts nor has any significant bad debt expense attributable to accounts receivable been recorded during the three months ended March 31, 2018 or 2017 . Accounts receivable are stated at cost, which approximates net realizable value due to the short-term collection period. Advisory and Distribution Agreements The Company derives significant revenue from its role as advisor to affiliated mutual funds and collective investment trusts and distributor of affiliated mutual funds. Fees earned for advisory and distribution services provided were approximately $14.5 million and $24.1 million during the three months ended March 31, 2018 and 2017 , respectively, which represents greater than 10% of revenue in each period. The following provides amounts due from affiliated mutual funds and collective investment trusts reported within accounts receivable in the consolidated statement of financial condition as of March 31, 2018 and December 31, 2017 : March 31, 2018 December 31, 2017 (in thousands) Affiliated mutual funds (1) $ 5,747 $ 6,219 Affiliated collective investment trusts 1,673 1,840 Accounts receivable - affiliated mutual funds and collective investment trusts $ 7,420 $ 8,059 ________________________ (1) December 31, 2017 balance includes $0.7 million of distribution and servicing fees receivable, which in the prior fiscal period were reflected in "Accounts Receivable". This amount was reclassified to conform to the current period presentation (Note 2). Contract assets and liabilities Accrued accounts receivable : Accrued accounts receivable represents the Company's contract asset for revenue that has been recognized in advance of billing separately managed account contracts. Consideration for the period billed in arrears is dependent on the client’s AUM on a future billing date and therefore conditional as of the reporting period end. During the three months ended March 31, 2018 , revenue was decreased by less than $0.1 million for changes in transaction price. Accrued accounts receivable of $0.3 million is reported within prepaid expenses and other assets in the consolidated statement of financial condition as of March 31, 2018 . Deferred revenue: Deferred revenue is recorded when consideration is received or unconditionally due in advance of providing services to the Company's customer. Revenue recognized for the three months ended March 31, 2018 and 2017 that was included in deferred revenue at the beginning of each period was approximately $7.7 million and $7.8 million , respectively. Costs to obtain a contract: Incremental first year commissions directly associated with new separate account and collective investment trust contracts are capitalized and amortized straight-line over an estimated customer contract period of 7 years for separate accounts and 3 years for collective investment trust contracts. The total net asset as of March 31, 2018 was approximately $1.5 million . Amortization expense included in compensation and related costs totaled approximately $0.1 million for the three months ended March 31, 2018 . An impairment loss of less than $0.1 million was recognized for the three months ended March 31, 2018 related to contract acquisition costs for client contracts that canceled during the period.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Manning & Napier holds an economic interest of approximately 18.2% 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 81.8% aggregate economic interest in Manning & Napier Group held by M&N Group Holdings and MNCC. Net income attributable to noncontrolling interests on the statements of operations represents the portion of earnings attributable to the economic interest in Manning & Napier Group held by the noncontrolling interests. The following provides a reconciliation from “Income before provision for income taxes” to “Net income attributable to Manning & Napier, Inc.”: Three months ended March 31, 2018 2017 (in thousands) Income before provision for income taxes $ 7,751 $ 17,857 Less: income (loss) before provision for income taxes of Manning & Napier, Inc. (1) 271 3 Income before provision for income taxes, as adjusted 7,480 17,854 Controlling interest percentage (2) 18.1 % 17.4 % Net income attributable to controlling interest 1,352 3,102 Plus: income (loss) before provision for income taxes of Manning & Napier, Inc. (1) 271 3 Income before income taxes attributable to Manning & Napier, Inc. 1,623 3,105 Less: provision for income taxes of Manning & Napier, Inc. (3) 409 1,208 Net income attributable to Manning & Napier, Inc. $ 1,214 $ 1,897 ________________________ (1) Manning & Napier, Inc. incurs certain income 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 $0.5 million and $1.3 million for the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018 , a total of 63,349,721 units of Manning & Napier Group were held by the noncontrolling interests. 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. During the three months ended March 31, 2018 , M&N Group Holdings and MNCC exchanged a total of 581,344 Class A units of Manning & Napier Group for approximately $1.9 million in cash. Subsequent to the exchange the Class A units were retired, resulting in an increase in Manning & Napier's ownership in Manning & Napier Group. In addition, during the three months ended March 31, 2018 , Class A common stock was issued under the Company's 2011 Equity Compensation Plan (the "Equity Plan") for which Manning & Napier, Inc. acquired an equivalent number of Class A units of Manning & Napier Group. The following is the impact to the Company's equity ownership interest in Manning & Napier Group for the three months ended March 31, 2018 : Manning & Napier Group Class A Units Held Manning & Napier Total Manning & Napier Ownership % As of December 31, 2017 13,873,042 63,931,065 77,804,107 17.8% Class A Units issued 224,218 — 224,218 0.3% Class A Units exchanged — (581,344 ) (581,344 ) 0.1% As of March 31, 2018 14,097,260 63,349,721 77,446,981 18.2% Since the Company continues to have a controlling interest in Manning & Napier Group, the aforementioned changes in ownership of Manning & Napier Group were accounted for as equity transactions under ASC 810, Consolidation . Additional paid-in capital and noncontrolling interests in the Consolidated Statements of Financial Position are adjusted to reallocate the Company's historical equity to reflect the change in ownership of Manning & Napier Group. At March 31, 2018 and December 31, 2017 , the Company had recorded a total liability of $21.5 million and $21.8 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, $2.5 million was included in accrued expenses and other liabilities as of March 31, 2018 and December 31, 2017 . The Company made no payments pursuant to the TRA during the three months ended March 31, 2018 and 2017 . Obligations pursuant to the TRA are obligations of Manning & Napier. They do not impact the noncontrolling interests. These obligations are not income tax obligations. Furthermore, the TRA has no impact on the allocation of the provision for income taxes to the Company’s net income.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2018
Investments [Abstract]
Investment Securities	Investment Securities The following represents the Company’s investment securities holdings as of March 31, 2018 and December 31, 2017 : March 31, 2018 Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Available-for-sale securities Fixed income securities $ 19,588 $ — $ (155 ) $ 19,433 U.S. Treasury notes 22,444 — (62 ) 22,382 Short-term investments 22,390 — — 22,390 64,205 Trading securities Equity securities 3,501 Mutual funds 1,397 4,898 Total investment securities $ 69,103 December 31, 2017 Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Available-for-sale securities Fixed income securities $ 19,589 $ — $ (29 ) $ 19,560 U.S. Treasury notes 22,428 — (42 ) 22,386 Short-term investments 22,323 — — 22,323 64,269 Trading securities Equity securities 3,548 Mutual funds 1,409 4,957 Equity method investments Mutual funds 1,178 Total investment securities $ 70,404 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 March 31, 2018 and December 31, 2017 , trading securities consist solely of investments held by the Company to provide initial cash seeding for product development purposes. The Company recognized approximately $ 0.2 million of net unrealized losses and $ 0.6 million of net unrealized gains related to investments classified as trading during the three months ended March 31, 2018 and 2017 , respectively. Investment securities classified as available-for-sale consist of U.S. Treasury notes, corporate bonds and other short-term investments for compliance with certain regulatory requirements and to optimize cash management opportunities. As of March 31, 2018 and December 31, 2017 , $0.6 million of these securities was considered restricted. The Company periodically reviews each individual security position that has an unrealized loss, or impairment, to determine if that impairment is other-than-temporary. No other-than-temporary impairment charges have been recognized by the Company during the three months ended March 31, 2018 and 2017 .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 and December 31, 2017 : March 31, 2018 Level 1 Level 2 Level 3 Totals (in thousands) Equity securities $ 3,501 $ — $ — $ 3,501 Fixed income securities — 19,433 — 19,433 Mutual funds 1,397 — — 1,397 U.S. Treasury notes — 22,382 — 22,382 Short-term investments 22,390 — — 22,390 Total assets at fair value $ 27,288 $ 41,815 $ — $ 69,103 Contingent consideration liability $ — $ — $ — $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2017 Level 1 Level 2 Level 3 Totals (in thousands) Equity securities $ 3,548 $ — $ — $ 3,548 Fixed income securities — 19,560 — 19,560 Mutual funds 2,587 — — 2,587 U.S. Treasury notes — 22,386 — 22,386 Short-term investments 22,323 — — 22,323 Total assets at fair value $ 28,458 $ 41,946 $ — $ 70,404 Contingent consideration liability $ — $ — $ — $ — Total liabilities at fair value $ — $ — $ — $ — Short-term investments consists of certificate of deposits ("CDs") that are stated at cost, which approximate fair value due to the short maturity of the investments. 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 Company's purchase price of Rainier Investment Management, LLC ("Rainier") in 2016 of additional cash payments of up to $32.5 million over the period ending December 31, 2019, contingent 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") over the contingency period. There were no changes in contingent consideration liability measured at fair value using significant unobservable inputs (Level 3) for the three months ended March 31, 2018 . The Company’s policy is to recognize transfers in and transfers out of the valuation levels as of the beginning of the reporting period. There were no transfers between Levels during the three months ended March 31, 2018 .

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	3 Months Ended
	Mar. 31, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities as of March 31, 2018 and December 31, 2017 consisted of the following: March 31, 2018 December 31, 2017 (in thousands) Accrued bonus and sales commissions $ 8,074 $ 19,153 Accrued payroll and benefits 3,126 3,877 Accrued sub-transfer agent fees 1,861 2,445 Dividends payable 1,221 1,203 Amounts payable under tax receivable agreement 2,549 2,549 Other accruals and liabilities 3,700 3,120 Total accrued expenses and other liabilities $ 20,531 $ 32,347

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
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 and the Financial Industry Regulatory Authority, Inc. From time to time, the Company may also be subject to claims, be involved in various legal proceedings arising in the ordinary course of its business and be subject to other contingencies. The Company does not believe that the outcome of any of these reviews, inspections or other legal proceedings will have a material impact on its consolidated financial statements; however, litigation is subject to many uncertainties, and the outcome of individual litigated matters is difficult to predict. The Company will establish accruals for matters that are probable, can be reasonably estimated, and may take into account any related insurance recoveries to the extent of such recoveries. As of March 31, 2018 and December 31, 2017 , the Company has not accrued for any such claims, legal proceedings, or other contingencies.

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2018
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 Equity Plan have non-forfeitable dividend rights during their vesting period and are therefore considered participating securities under the two-class method. Under the two-class method, the Company's net income available to Class A common stock is reduced by the amount allocated to the unvested restricted Class A common stock. Basic EPS is calculated by dividing net income available to Class A common stock by the weighted average number of common shares outstanding during the period. Diluted earnings per share (“diluted EPS”) is computed under the more dilutive of either the treasury method or the two-class method. For the diluted calculation, the weighted average number of common shares outstanding during the period is increased by the assumed conversion into Class A common stock of the unvested equity awards and the exchangeable units of Manning & Napier Group, to the extent that such conversion would dilute earnings per share. The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the three months ended March 31, 2018 and 2017 under the two-class method: Three months ended March 31, 2018 2017 (in thousands, except share data) Net income attributable to controlling and noncontrolling interests $ 7,273 $ 16,514 Less: net income attributable to noncontrolling interests 6,059 14,617 Net income attributable to Manning & Napier, Inc. $ 1,214 $ 1,897 Less: allocation to participating securities 63 119 Net income available to Class A common stock $ 1,151 $ 1,778 Weighted average shares of Class A common stock outstanding - basic 14,313,549 14,042,880 Dilutive effect of unvested equity awards 51,888 174,108 Dilutive effect of exchangeable Class A Units 63,918,146 — Weighted average shares of Class A common stock outstanding - diluted 78,283,583 14,216,988 Net income available to Class A common stock per share - basic $ 0.08 $ 0.13 Net income available to Class A common stock per share - diluted $ 0.07 $ 0.13 For the three months ended March 31, 2018 and 2017 , 866,103 and 940,000 , respectively, unvested equity awards were excluded from the calculation of diluted earnings per common share because the effect would have been anti-dilutive. At March 31, 2017 there were 63,941,860 Class A Units of Manning & Napier Group outstanding, which were not included in the calculation of diluted earnings per common share for the three months ended March 31, 2017 because the effect would have been anti-dilutive.

Equity Based Compensation

Equity Based Compensation	3 Months Ended
	Mar. 31, 2018
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 stockholders prior to the consummation of the Company's 2011 initial public offering. Under the Equity Plan, a total of 13,142,813 equity interests are authorized for issuance, and may be issued in the form of Class A common stock, restricted stock units, units of Manning & Napier Group, or certain classes of membership interests in the Company which may convert into units of Manning & Napier Group. The following table summarizes the award activity for the three months ended March 31, 2018 under the Equity Plan: Restricted Stock Awards Weighted Average Grant Date Fair Value Stock awards outstanding at January 1, 2018 852,123 $ 12.09 Granted 300,321 $ 3.43 Vested (224,218 ) $ 3.50 Forfeited — $ — Stock awards outstanding at March 31, 2018 928,226 $ 11.37 The weighted average fair value of Equity Plan awards granted during the three months ended March 31, 2018 was $3.43 , 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. There were no Equity Plan awards granted during the three months ended March 31, 2017 . For the three months ended March 31, 2018 and 2017 , the Company recorded approximately $1.2 million and $0.8 million , respectively, of compensation expense related to awards under the Equity Plan. The aggregate intrinsic value of awards that vested during the three months ended March 31, 2018 was approximately $0.6 million . No awards vested during the three months ended March 31, 2017 . As of March 31, 2018 , there was unrecognized compensation expense related to Equity Plan awards of approximately $5.1 million , which the Company expects to recognize over a weighted average period of approximately 3.0 years .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is comprised of entities that have elected to be treated as either a limited liability company ("LLC") or a “C-Corporation". As such, the entities functioning as LLC’s are not liable for or able to benefit from U.S. federal and most state income taxes on their earnings, and earnings (losses) will be included in the personal income tax returns of each entity’s unit holders. The entities functioning as C-Corporations are liable for or able to benefit from U.S. federal and state and local income taxes on their earnings and losses, respectively. The Company’s income tax provision and effective tax rate were as follows: Three months ended March 31, 2018 2017 (in thousands) Earnings from continuing operations before income taxes $ 7,751 $ 17,857 Effective tax rate 6.2 % 7.5 % Provision for income taxes 478 1,343 Provision for income taxes statutory rate 1,628 6,071 Difference between tax at effective vs. statutory rate $ (1,150 ) $ (4,728 ) For the three months ended March 31, 2018 and 2017 , the difference between the Company’s recorded provision and the provision that would result from applying the U.S. statutory rate of 21% and 34% , respectively, is primarily attributable to the benefit resulting from the fact that a significant portion of the Company’s operations include a series of flow-through entities which are generally not subject to federal and most state income taxes. Accordingly, a portion of the Company’s earnings are not subject to corporate level taxes.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
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 and funds of affiliated entities of certain of the Company's executive officers and directors. Pursuant to the respective investment management agreements, in some instances the Company waives or reduces its regular advisory fees for these accounts. The aggregate value of the fees earned and fees waived was less than $0.1 million for the three months ended March 31, 2018 and 2017 . Affiliated fund transactions The Company earns investment advisory fees, distribution fees and administrative service fees under agreements with affiliated mutual funds and collective investment trusts. Fees earned for advisory and distribution services provided were approximately $14.5 million and $24.1 million for the three months ended March 31, 2018 and 2017 , respectively. Fees earned for administrative services provided were approximately $0.6 million for the three months ended March 31, 2018 . See Note 3 for disclosure of amounts due from affiliated mutual funds and collective investment trusts. The Company incurs certain expenses on behalf of the collective investment trusts and has contractually agreed to limit its fees and reimburse expenses to limit operating expenses incurred by certain affiliated fund series. The aggregate value of fees waived and expenses reimbursed to, or incurred for, affiliated mutual funds and collective investment trusts was approximately $1.7 million and $1.3 million for the three months ended March 31, 2018 and 2017 , respectively. As of March 31, 2018 , the Company has recorded a receivable of approximately $0.5 million for expenses paid on behalf of an affiliated mutual fund. These expenses are reimbursable to the Company under an agreement with the affiliated mutual fund, and are included within other long-term assets on the consolidated statements of financial condition.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Distributions and dividends On April 24, 2018 , 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 will be based on earnings for the quarter ended March 31, 2018 , with a maximum amount of $4.5 million . Concurrently, the Board of Directors declared an $0.08 per share dividend to the holders of Class A common stock. The dividend is payable on or about August 1, 2018 to shareholders of record as of July 13, 2018 .

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Revenue	Revenue Investment Management: Investment management fees are computed as a percentage of assets under management ("AUM"). The Company's performance obligation is a series of services that form part of a single obligation satisfied over time. Separately managed accounts are paid 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 as a contract liability and recognizes it over the applicable period. When investment management fees are paid in arrears, the Company estimates revenue and records a contract asset (accrued accounts receivable) based on AUM as of the most recent month end date. Mutual funds and collective investment trust investment management revenue is calculated and earned daily based on AUM. Revenue is presented net of cash rebates and fees waived pursuant to contractual expense limitations of the funds. The Company also has agreements with third parties who provide recordkeeping and administrative services for employee benefit plans participating in the collective investment trusts. The Company is acting as an agent on behalf of the employee benefit plan sponsors, therefore, investment management revenue is recorded net of fees paid to third party service providers. Distribution and shareholder servicing: The Company receives distribution and servicing fees for providing services to its affiliated mutual funds. Revenue is computed and earned daily based on a percentage of AUM. The performance obligation is a series of services that form part of a single performance obligation satisfied over time. The Company has agreements with third parties who provide distribution and administrative services for its mutual funds. The agreements are evaluated to determine whether revenue should be reported gross or net of payments to third-party service providers. The Company controls the services provided and acts as a principal in the relationship. Therefore, distribution and shareholder servicing revenue is recorded gross of fees paid to third parties. Custodial services: Custodial service fees are calculated as a percentage of the client’s market value with additional fees charged for certain transactions. For the safeguarding and administrative services that are subject to a percentage of market value fee, the Company's performance obligation is a series of services that form part of a single obligation satisfied over time. Revenue for transactions assigned a stand-alone selling price is recognized in the period which the transaction is executed. Custodial service fees are billed monthly in arrears. The Company has agreements with third parties who provide safeguarding, recordkeeping and administrative services for their clients. The Company controls the services provided and acts as a principal in the relationship. Therefore, custodial service revenue is recorded gross of fees paid to third parties. Costs to Obtain a Contract Incremental first year commissions directly associated with new separate account and collective investment trust contracts are capitalized and amortized straight-line over the estimated customer contract period of 7 years for separate accounts and 3 years for collective investment trust contracts. Refer to Note 3 for further discussion.
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.
Reclassifications	Reclassifications The Company changed the presentation of revenue within its consolidated statements of operations for the three months ended March 31, 2018. Revenue, previously reported as a single line item, has been disaggregated to present revenue by the various services the Company provides. Amounts for the comparative prior periods have been reclassified to conform to the current period presentation. These reclassifications had no impact on previously reported net income or financial position and do not represent a restatement of any previously published financial results. Prior to March 31, 2018 the Company presented "Accounts receivable - affiliated mutual funds" on its consolidated statements of financial condition. Further disclosure regarding accounts receivable from affiliated mutual funds and the components of accounts receivable as of March 31, 2018 is included in "Accounts Receivable" in Note 3 of the notes to the consolidated financial statements. Amounts for the comparative prior fiscal year periods have been reclassified to conform to the current period presentation. These reclassifications had no impact on previously reported net income and do not represent a restatement of any previously published financial results.
Principles of Consolidation	Principles of Consolidation The Company consolidates all majority-owned subsidiaries. In addition, as of March 31, 2018 , Manning & Napier holds an economic interest of approximately 18.2% 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”). When utilizing the voting interest entity ("VOE") model, controlling financial interest is generally defined as majority ownership of voting interests. The Company provides seed capital to its investment teams to develop new products and services for its clients. The original seed investment may be held in a separately managed account, comprised solely of the Company's investments or within a mutual fund, where the Company's investments may represent all or only a portion of the total equity investment in the mutual fund. Pursuant to U.S. GAAP, the Company evaluates its investments in mutual funds on a regular basis and consolidates such mutual funds for which it holds a controlling financial interest. When no longer deemed to hold a controlling financial interest, the Company would deconsolidate the fund and classify the remaining investment as either an equity method investment or as trading securities, as applicable. 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”) and Rainier Multiple Investment Trust. The Fund, CIT 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 VOE. The Company holds, in limited cases, direct investments in a mutual fund (which are made on the same terms as are available to other investors) and consolidates each of these entities where it has a controlling financial interest or a majority voting interest. The Company's investments in the Fund amounted to approximately $1.4 million as of March 31, 2018 and $2.6 million as of December 31, 2017 . As of December 31, 2017 , the Company maintained significant influence in one mutual fund, Manning & Napier Fund, Inc. Quality Equity Series, but did not maintain a controlling financial interest in the mutual fund, which was accounted for as an equity method investment. As of March 31, 2018, the Company no longer maintained an investment in the mutual fund.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company generally 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, equity method investments 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. Realized and unrealized gains and losses on trading securities are recorded in net gains (losses) on investments in the consolidated statements of operations. At March 31, 2018 , trading securities consist solely of investments held by the Company to provide initial cash seeding for product development purposes. Investments classified as equity method investments represent seed investments in which the Company owns between 20-50% of the outstanding voting interests in the affiliated fund or when it is determined that the Company is able to exercise significant influence but not control over the investments. If the seed investment results in significant influence, but not control, the investment will be accounted for as an equity method investment. When using the equity method, the Company recognizes its share of the investee's net income or loss for the period which is recorded in net gains (losses) on investments in the consolidated statements of operations. Investment securities classified as available-for-sale consist of U.S. Treasury notes, corporate bonds and other short-term investments. Unrealized gains and losses on available-for-sale securities are excluded from earnings and are reported, net of deferred income tax, as a separate component of accumulated other comprehensive income in stockholders’ equity until realized. The Company periodically reviews each individual security position that has an unrealized loss, or impairment, to determine if that impairment is other-than-temporary. If impairment is determined to be other-than-temporary, the carrying value of the security will be written down to fair value and the loss will be recognized in earnings. Realized gains and losses on sales of available-for-sale securities are computed on a specific identification basis and are recorded in net gains (losses) on investments in the consolidated statements of operations.
Property, Plant and Equipment	Property and Equipment Property and equipment is presented net of accumulated depreciation of approximately $11.6 million and $11.4 million as of March 31, 2018 and December 31, 2017 , respectively.
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. On January 16, 2018, the Company sold a Rainier U.S. mutual fund to a third party for approximately $2.1 million , based on total assets under management on the closing date of approximately $0.3 billion . The carrying value of the intangible assets for client relationships associated with these products was zero as a result of the impairment loss recognized in 2016. During the first quarter of 2018, the Company recognized a gain of approximately $2.1 million for the sale of this fund, as included in other operating costs in the consolidated statements of operations.
Operating Segments	Operating Segments The Company operates in one segment, the investment management industry.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The revenue standard contains principals to determine the measurement of revenue and timing of recognition and also impacts the accounting for incremental costs to obtain a contract. The Company adopted the new standard on its effective date of January 1, 2018. Refer to Note 3 for further discussion regarding the impact of adoption. 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. The guidance is effective on January 1, 2018. The Company's adoption of ASU 2016-01 on January 1, 2018 did not have a material impact on its consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments , to clarify guidance on the classification of certain cash receipts and cash payments in the statement of cash flows. The FASB issued the ASU with the intent of reducing diversity in practice regarding eight types of cash flows. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. The Company's adoption of ASU 2016-15 on January 1, 2018 did not have a material impact on its consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted 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 January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment , which simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. The ASU requires goodwill impairments to be measured on the basis of the fair value of the reporting unit relative to the reporting unit's carrying amount rather than on the basis of the implied amount of goodwill relative to the goodwill balance of the reporting unit. The ASU is effective for annual and interim impairment tests for periods beginning after December 15, 2019. Early adoption is allowed for annual and interim impairment tests occurring after January 1, 2017. The Company is evaluating the effect of adopting this new accounting standard. In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The ASU requires a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the newly enacted federal corporate income tax rate as a result of the Tax Cuts and Jobs Act. The amount of the reclassification is the difference between the historical corporate income tax rate and the newly enacted 21% corporate income tax rate. The ASU will be effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting standard.

Revenue, Contract Assets and 23

Revenue, Contract Assets and Contract Liabilities (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation Of Revenue [Table Text Block]	The following table represents the Company’s separately managed account and mutual fund and collective investment trust investment management revenue by investment portfolio for the three months ended March 31, 2018 and 2017 : Three months ended March 31, 2018 Three months ended March 31, 2017 (1) Separately managed accounts Mutual funds and collective investment trusts Total Separately managed accounts Mutual funds and collective investment trusts Total (in thousands) Blended Asset $ 18,309 $ 6,452 $ 24,761 $ 20,082 $ 12,269 $ 32,351 Equity 6,356 4,488 10,844 9,107 6,931 16,038 Fixed Income 690 40 730 750 85 835 Total $ 25,355 $ 10,980 $ 36,335 $ 29,939 $ 19,285 $ 49,224 ______________________ (1) As noted above, prior period amounts have not been modified under the modified retrospective method.
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	The following provides amounts due from affiliated mutual funds and collective investment trusts reported within accounts receivable in the consolidated statement of financial condition as of March 31, 2018 and December 31, 2017 : March 31, 2018 December 31, 2017 (in thousands) Affiliated mutual funds (1) $ 5,747 $ 6,219 Affiliated collective investment trusts 1,673 1,840 Accounts receivable - affiliated mutual funds and collective investment trusts $ 7,420 $ 8,059 ________________________ (1) December 31, 2017 balance includes $0.7 million of distribution and servicing fees receivable, which in the prior fiscal period were reflected in "Accounts Receivable". This amount was reclassified to conform to the current period presentation (Note 2). Accounts receivable as of March 31, 2018 and December 31, 2017 consisted of the following: March 31, 2018 December 31, 2017 (in thousands) Accounts receivable - third parties $ 6,101 $ 7,278 Accounts receivable - affiliated mutual funds and collective investment trusts 7,420 8,059 Total accounts receivable $ 13,521 $ 15,337

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Reconciliation from Income Before Provision for Income Taxes to Net Income Attributable to Manning & Napier, Inc.	The following provides a reconciliation from “Income before provision for income taxes” to “Net income attributable to Manning & Napier, Inc.”: Three months ended March 31, 2018 2017 (in thousands) Income before provision for income taxes $ 7,751 $ 17,857 Less: income (loss) before provision for income taxes of Manning & Napier, Inc. (1) 271 3 Income before provision for income taxes, as adjusted 7,480 17,854 Controlling interest percentage (2) 18.1 % 17.4 % Net income attributable to controlling interest 1,352 3,102 Plus: income (loss) before provision for income taxes of Manning & Napier, Inc. (1) 271 3 Income before income taxes attributable to Manning & Napier, Inc. 1,623 3,105 Less: provision for income taxes of Manning & Napier, Inc. (3) 409 1,208 Net income attributable to Manning & Napier, Inc. $ 1,214 $ 1,897 ________________________ (1) Manning & Napier, Inc. incurs certain income 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 $0.5 million and $1.3 million for the three months ended March 31, 2018 and 2017, respectively
Impact to the Company's ownership interest in Manning & Napier Group	The following is the impact to the Company's equity ownership interest in Manning & Napier Group for the three months ended March 31, 2018 : Manning & Napier Group Class A Units Held Manning & Napier Total Manning & Napier Ownership % As of December 31, 2017 13,873,042 63,931,065 77,804,107 17.8% Class A Units issued 224,218 — 224,218 0.3% Class A Units exchanged — (581,344 ) (581,344 ) 0.1% As of March 31, 2018 14,097,260 63,349,721 77,446,981 18.2%

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2018
Investments [Abstract]
Company's Investment Securities Holdings	The following represents the Company’s investment securities holdings as of March 31, 2018 and December 31, 2017 : March 31, 2018 Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Available-for-sale securities Fixed income securities $ 19,588 $ — $ (155 ) $ 19,433 U.S. Treasury notes 22,444 — (62 ) 22,382 Short-term investments 22,390 — — 22,390 64,205 Trading securities Equity securities 3,501 Mutual funds 1,397 4,898 Total investment securities $ 69,103 December 31, 2017 Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Available-for-sale securities Fixed income securities $ 19,589 $ — $ (29 ) $ 19,560 U.S. Treasury notes 22,428 — (42 ) 22,386 Short-term investments 22,323 — — 22,323 64,269 Trading securities Equity securities 3,548 Mutual funds 1,409 4,957 Equity method investments Mutual funds 1,178 Total investment securities $ 70,404

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 and December 31, 2017 : March 31, 2018 Level 1 Level 2 Level 3 Totals (in thousands) Equity securities $ 3,501 $ — $ — $ 3,501 Fixed income securities — 19,433 — 19,433 Mutual funds 1,397 — — 1,397 U.S. Treasury notes — 22,382 — 22,382 Short-term investments 22,390 — — 22,390 Total assets at fair value $ 27,288 $ 41,815 $ — $ 69,103 Contingent consideration liability $ — $ — $ — $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2017 Level 1 Level 2 Level 3 Totals (in thousands) Equity securities $ 3,548 $ — $ — $ 3,548 Fixed income securities — 19,560 — 19,560 Mutual funds 2,587 — — 2,587 U.S. Treasury notes — 22,386 — 22,386 Short-term investments 22,323 — — 22,323 Total assets at fair value $ 28,458 $ 41,946 $ — $ 70,404 Contingent consideration liability $ — $ — $ — $ — Total liabilities at fair value $ — $ — $ — $ —

Accrued Expenses and Other Li27

Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities as of March 31, 2018 and December 31, 2017 consisted of the following: March 31, 2018 December 31, 2017 (in thousands) Accrued bonus and sales commissions $ 8,074 $ 19,153 Accrued payroll and benefits 3,126 3,877 Accrued sub-transfer agent fees 1,861 2,445 Dividends payable 1,221 1,203 Amounts payable under tax receivable agreement 2,549 2,549 Other accruals and liabilities 3,700 3,120 Total accrued expenses and other liabilities $ 20,531 $ 32,347

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Calculation of basic and diluted earnings per share	The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the three months ended March 31, 2018 and 2017 under the two-class method: Three months ended March 31, 2018 2017 (in thousands, except share data) Net income attributable to controlling and noncontrolling interests $ 7,273 $ 16,514 Less: net income attributable to noncontrolling interests 6,059 14,617 Net income attributable to Manning & Napier, Inc. $ 1,214 $ 1,897 Less: allocation to participating securities 63 119 Net income available to Class A common stock $ 1,151 $ 1,778 Weighted average shares of Class A common stock outstanding - basic 14,313,549 14,042,880 Dilutive effect of unvested equity awards 51,888 174,108 Dilutive effect of exchangeable Class A Units 63,918,146 — Weighted average shares of Class A common stock outstanding - diluted 78,283,583 14,216,988 Net income available to Class A common stock per share - basic $ 0.08 $ 0.13 Net income available to Class A common stock per share - diluted $ 0.07 $ 0.13

Equity Based Compensation (Tabl

Equity Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Share-based Compensation [Abstract]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the award activity for the three months ended March 31, 2018 under the Equity Plan: Restricted Stock Awards Weighted Average Grant Date Fair Value Stock awards outstanding at January 1, 2018 852,123 $ 12.09 Granted 300,321 $ 3.43 Vested (224,218 ) $ 3.50 Forfeited — $ — Stock awards outstanding at March 31, 2018 928,226 $ 11.37

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Tax Provision and Effective Tax Rate	The Company’s income tax provision and effective tax rate were as follows: Three months ended March 31, 2018 2017 (in thousands) Earnings from continuing operations before income taxes $ 7,751 $ 17,857 Effective tax rate 6.2 % 7.5 % Provision for income taxes 478 1,343 Provision for income taxes statutory rate 1,628 6,071 Difference between tax at effective vs. statutory rate $ (1,150 ) $ (4,728 )

Organization and Nature of th31

Organization and Nature of the Business (Details)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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	18.20%
Majority Outside Ownership Interest in limited liability and limited partnership companies	80.80%

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Details)	Jan. 16, 2018USD ($)	Mar. 31, 2018USD ($)Segment	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Sale of investments	$ 2,100,000	$ 1,380,000	$ 3,338,000
Amortization Period For First Year Commissions Directly Associated With New Separate Account		7 years
Amortization Period For First Year Commissions Directly Associated With CIT Investment Management Contracts		3 years
Trading securities, at fair value		$ 4,898,000		$ 4,957,000
Accumulated depreciation		$ 11,600,000		11,400,000
Number of segments | Segment		1
Mutual Funds
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Trading securities, at fair value		$ 1,397,000		2,587,000
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)		18.20%
Customer Relationships for Separately Managed Accounts [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Finite-Lived Intangible Assets, Net	0
Rainier Investment Management, LLC | Mutual Funds
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Disposal Group, Including Discontinued Operation, Assets	$ 300,000,000
Manning & Napier Fund | Managed Mutual Funds and Managed Mutual Consolidated Funds
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Trading securities, at fair value		$ 1,400,000		2,600,000
Manning & Napier Fund | Mutual Funds
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Trading securities, at fair value		$ 1,397,000		$ 1,409,000

Revenue, Contract Assets and 33

Revenue, Contract Assets and Contract Liabilities (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Management fees revenue	$ 36,335,000	$ 49,224,000
Cumulative effect of change in accounting			$ 1,490
Decrease of revenue for changes in transaction price	(100)
Accrued accounts receivable	300
Deferred revenue, revenue recognized	7,700	7,800
Capitalized contract cost	1,500
Capitalized contract cost, amortization	100
Capitalized contract cost, impairment loss	100
Retained Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of change in accounting			$ 266
Record-Keeping And Administrative Services
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Service fees due to third party	700
Accounting And Administrative Services To Affiliated Mutual Fund
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Service fees due to third party	600
Safeguarding And Administrative Services
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Service fees due to third party	100
Advisory Related Services
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Management fees revenue	$ 14,500	$ 24,100

Revenue, Contract Assets and 34

Revenue, Contract Assets and Contract Liabilities (Disaggregated Revenue) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Management fees revenue	$ 36,335	$ 49,224
Separately managed accounts
Disaggregation of Revenue [Line Items]
Management fees revenue	25,355	29,939
Mutual funds and collective investment trusts
Disaggregation of Revenue [Line Items]
Management fees revenue	10,980	19,285
Blended Asset
Disaggregation of Revenue [Line Items]
Management fees revenue	24,761	32,351
Blended Asset | Separately managed accounts
Disaggregation of Revenue [Line Items]
Management fees revenue	18,309	20,082
Blended Asset | Mutual funds and collective investment trusts
Disaggregation of Revenue [Line Items]
Management fees revenue	6,452	12,269
Equity
Disaggregation of Revenue [Line Items]
Management fees revenue	10,844	16,038
Equity | Separately managed accounts
Disaggregation of Revenue [Line Items]
Management fees revenue	6,356	9,107
Equity | Mutual funds and collective investment trusts
Disaggregation of Revenue [Line Items]
Management fees revenue	4,488	6,931
Fixed Income
Disaggregation of Revenue [Line Items]
Management fees revenue	730	835
Fixed Income | Separately managed accounts
Disaggregation of Revenue [Line Items]
Management fees revenue	690	750
Fixed Income | Mutual funds and collective investment trusts
Disaggregation of Revenue [Line Items]
Management fees revenue	$ 40	$ 85

Revenue, Contract Assets and 35

Revenue, Contract Assets and Contract Liabilities (Schedule of Accounts Receivable) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 13,521	$ 15,337
Third Parties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	6,101	7,278
Affiliated Mutual Funds and Collective Trusts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	7,420	8,059
Affiliated mutual funds (1)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	5,747	6,219
Affiliated collective investment trusts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 1,673	1,840
Distribution and servicing fee receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable		$ 700

Noncontrolling Interests (Textu

Noncontrolling Interests (Textual) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Noncontrolling Interest [Line Items]
Purchase of Class A units of Manning & Napier Group, LLC	$ 1,918	$ 0
Estimated payments due to selling unit holders	$ 21,500		$ 21,800
Manning & Napier Group, LLC
Noncontrolling Interest [Line Items]
Percentage of economic interest in Manning & Napier Group held by Manning & Napier, Inc (percent)	18.20%
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)	81.80%
Class A Units
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests, Shares	(581,344)
Class A Units | Manning & Napier Group, LLC
Noncontrolling Interest [Line Items]
Percentage of economic interest in Manning & Napier Group held by Manning & Napier, Inc (percent)	18.20%		17.80%
Noncontrolling Interest, Shares, Total	77,446,981		77,804,107
Accrued expenses and other liabilities
Noncontrolling Interest [Line Items]
Estimated payments due to selling unit holders	$ 2,500
Non Controlling Interests | Class A Units | Manning & Napier Group, LLC
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Shares, Total	63,349,721		63,931,065
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests, Shares	(581,344)

Noncontrolling Interests (Recon

Noncontrolling Interests (Reconciliation of Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Noncontrolling Interest [Abstract]
Income before provision for income taxes	$ 7,751	$ 17,857
Less: gain (loss) before provision for income taxes of Manning & Napier, Inc.	271	3
Income before provision for income taxes, as adjusted	$ 7,480	$ 17,854
Controlling interest percentage	18.10%	17.40%
Net income attributable to controlling interest	$ 1,352	$ 3,102
Plus: gain (loss) before provision for income taxes of Manning & Napier, Inc.	271	3
Income before income taxes attributable to Manning & Napier, Inc.	1,623	3,105
Less: provision for income taxes of Manning & Napier, Inc.	409	1,208
Net income attributable to Manning & Napier, Inc.	1,214	1,897
Provision for income taxes	$ 478	$ 1,343

Noncontrolling Interests (Summa

Noncontrolling Interests (Summary of Equity Ownership Interest) (Details)	3 Months Ended
	Mar. 31, 2018shares
Manning & Napier Group, LLC
Noncontrolling Interest [Line Items]
Noncontrolling interest ownership percentage by Parent	18.20%
Class A Units
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests, Shares	(581,344)
Class A Units | Manning & Napier Group, LLC
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Shares, Beginning Balance	77,804,107
Noncontrolling Interest, Shares, Issued	224,218
Noncontrolling Interest, Shares, Ending Balance	77,446,981
Noncontrolling interest ownership percentage by Parent	17.80%
Noncontrolling Interest, Ownership Percentage by Parent, Issued	0.30%
Noncontrolling Interest, Ownership Percentage by Parent, Exchanged	0.10%
Noncontrolling interest ownership percentage by Parent	18.20%
Class A Units | Manning & Napier Group, LLC | Noncontrolling Interests
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Shares, Beginning Balance	63,931,065
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests, Shares	(581,344)
Noncontrolling Interest, Shares, Ending Balance	63,349,721
Class A Units | Manning & Napier Group, LLC | Manning & Napier
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Shares, Beginning Balance	13,873,042
Noncontrolling Interest, Shares, Issued	224,218
Noncontrolling Interest, Shares, Ending Balance	14,097,260

Investment Securities (Company'

Investment Securities (Company's Investment Securities Holdings) (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Investment Holdings [Line Items]
Fair Value	$ 64,205,000	$ 64,269,000
Trading securities, at fair value	4,898,000	4,957,000
Equity Method Investments		1,178,000
Total assets at fair value	69,103,000	70,404,000
Fixed income securities
Investment Holdings [Line Items]
Cost	19,588,000	19,589,000
Unrealized Gains	0	0
Unrealized Losses	(155,000)	(29,000)
Fair Value	19,433,000	19,560,000
Trading securities, at fair value	19,433,000	19,560,000
U.S. Treasury notes
Investment Holdings [Line Items]
Cost	22,444,000	22,428,000
Unrealized Gains	0	0
Unrealized Losses	(62,000)	(42,000)
Fair Value	22,382,000	22,386,000
Short-term investments
Investment Holdings [Line Items]
Cost	22,390,000	22,323,000
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	22,390,000	22,323,000
Equity securities
Investment Holdings [Line Items]
Trading securities, at fair value	3,501,000	3,548,000
Mutual Funds
Investment Holdings [Line Items]
Trading securities, at fair value	1,397,000	2,587,000
Manning & Napier Fund | Mutual Funds
Investment Holdings [Line Items]
Trading securities, at fair value	1,397,000	1,409,000
Level 2
Investment Holdings [Line Items]
Total assets at fair value	41,815,000	41,946,000
Level 2 | Fixed income securities
Investment Holdings [Line Items]
Trading securities, at fair value	19,433,000	19,560,000
Level 2 | U.S. Treasury notes
Investment Holdings [Line Items]
Fair Value	22,382,000	22,386,000
Level 2 | Short-term investments
Investment Holdings [Line Items]
Fair Value	0	0
Level 2 | Equity securities
Investment Holdings [Line Items]
Trading securities, at fair value	0	0
Level 2 | Mutual Funds
Investment Holdings [Line Items]
Trading securities, at fair value	$ 0	$ 0

Investment Securities (Textual)

Investment Securities (Textual) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Investments [Abstract]
Recognized net unrealized gains (loss) on trading securities	$ 200,000	$ (600,000)
Available-for-sale Securities, Restricted	600,000		$ 600,000
Other than temporary impairment losses	$ 0	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	$ 4,898	$ 4,957
Available-for-sale securities, at fair value	64,205	64,269
Total assets at fair value	69,103	70,404
Contingent consideration liability	0	0
Total liabilities at fair value	0	0
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	3,501	3,548
Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	19,433	19,560
Available-for-sale securities, at fair value	19,433	19,560
Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	1,397	2,587
Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	22,390	22,323
U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	22,382	22,386
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	27,288	28,458
Contingent consideration liability	0	0
Total liabilities at fair value	0	0
Level 1 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	3,501	3,548
Level 1 | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	0	0
Level 1 | Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities, at fair value	1,397	2,587
Level 1 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	22,390	22,323
Level 1 | U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	41,815	41,946
Contingent consideration liability	0	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	19,433	19,560
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 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	0	0
Level 2 | U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	22,382	22,386
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Contingent consideration liability	0	0
Total liabilities at fair value	0	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 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	0	0
Level 3 | U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	0	$ 0
Maximum | Rainier Investment Management, LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	$ 32,500

Accrued Expenses and Other Li42

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Accrued bonus and sales commissions	$ 8,074	$ 19,153
Accrued payroll and benefits	3,126	3,877
Accrued sub-transfer agent fees	1,861	2,445
Dividends payable	1,221	1,203
Amounts payable under tax receivable agreement	2,549	2,549
Other accruals and liabilities	3,700	3,120
Accrued expenses and other liabilities	$ 20,531	$ 32,347

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to controlling and noncontrolling interests	$ 7,273	$ 16,514
Less: net income attributable to noncontrolling interests	6,059	14,617
Net income attributable to Manning & Napier, Inc.	1,214	1,897
Less: allocation to participating securities	63	119
Net income available to Class A common stock	$ 1,151	$ 1,778
Weighted average shares of Class A common stock outstanding - basic (in shares)	14,313,549	14,042,880
Dilutive effect from unvested equity awards (in shares)	51,888	174,108
Dilutive effect of exchangeable Class A Units (in shares)	63,918,146	0
Weighted average shares of Class A common stock outstanding - diluted (in shares)	78,283,583	14,216,988
Net income available to Class A common stock per share - basic (in dollars per share)	$ 0.08	$ 0.13
Net income available to Class A common stock per share - diluted (in dollars per share)	$ 0.07	$ 0.13
Antidilutive securities excluded from computation of earnings per share (in shares)	866,103	940,000
Class A | Class A Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of common units available for conversion		63,941,860

Equity Based Compensation (Rest

Equity Based Compensation (Restricted Stock Awards) (Details)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Stock Units
Stock unit awards, beginning balance (shares) | shares	852,123
Granted (shares) | shares	300,321
Vested (shares) | shares	(224,218)
Forfeited (shares) | shares	0
Stock unit awards, ending balance (shares) | shares	928,226
Weighted Average Grant Date Fair Value
Stock unit awards, beginning balance, weighted average grant date fair value (dollars per share) | $ / shares	$ 12.09
Granted, weighted average grant date fair value (dollars per share) | $ / shares	3.43
Vested, weighted average grant date fair value (dollars per share) | $ / shares	3.50
Forfeited, weighted average grant date fair value (dollars per share) | $ / shares	0
Stock unit awards, ending balance, weighted average grant date fair value (dollars per share) | $ / shares	$ 11.37

Equity Based Compensation (Text

Equity Based Compensation (Textual) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, weighted average grant date fair value (dollars per share)	$ 3.43
2011 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	13,142,813
Share-based compensation expense	$ 1.2	$ 0.8
Award vested intrinsic value	0.6
Unrecognized compensation expense related to unvested awards	$ 5.1
Weighted average period of unrecognized compensation expense (years)	3 years

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Earnings from continuing operations before income taxes	$ 7,751	$ 17,857
Effective Tax Rate (percent)	6.20%	7.50%
Provision for income taxes	$ 478	$ 1,343
Provision for income taxes @ statutory rate	1,628	6,071
Difference between tax at effective vs. statutory rate	$ (1,150)	$ (4,728)
Effective income tax rate, federal statutory income tax rate (percent)	21.00%	34.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Executive Officer [Member]
Related Party Transaction [Line Items]
Fees earned from related parties (less than)	$ 0.1	$ 0.1
Related party transaction, fees waived (less than)	0.1	0.1
Affiliated Mutual Funds and Collective Trusts
Related Party Transaction [Line Items]
Accounts receivable—affiliated mutual funds	0.5
Advisory Fees Waived	1.7	1.3
Advisory Related Services | Affiliated Mutual Funds and Collective Trusts | Affiliated Entity [Member]
Related Party Transaction [Line Items]
Fees earned for advisory related services provided to the Fund and CIT investment vehicles	14.5	$ 24.1
Administration Services [Member] | Affiliated Mutual Funds and Collective Trusts | Affiliated Entity [Member]
Related Party Transaction [Line Items]
Fees earned for advisory related services provided to the Fund and CIT investment vehicles	$ 0.6

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 24, 2018	Mar. 31, 2018	Mar. 31, 2017
Subsequent Event [Line Items]
Per share dividend declared to the holders of Class A common stock		$ 0.08	$ 0.08
Class A common stock
Subsequent Event [Line Items]
Per share dividend declared to the holders of Class A common stock		$ 0.08	$ 0.08
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	$ 0.08
Maximum | Manning & Napier Group, LLC | Subsequent Event
Subsequent Event [Line Items]
Amount approved for distribution to members of Manning & Napier Group	$ 4.5