WisdomTree (WT) 10-Q 6 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 26, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Period End Date	Sep. 30, 2020
Trading Symbol	WETF
Document Fiscal Period Focus	Q3
Entity Registrant Name	WisdomTree Investments, Inc.
Entity Central Index Key	0000880631
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		148,781,570
Document Transition Report	false
Document Quarterly Report	true
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity File Number	001-10932
Entity Address, Address Line One	245 Park Avenue, 35th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10167
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3487784
City Area Code	212
Local Phone Number	801-2080

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 63,561	$ 74,972
Securities owned, at fair value (including $23,906 and $16,886 invested in WisdomTree ETFs at September 30, 2020 and December 31, 2019, respectively)	32,574	17,319
Accounts receivable (including $23,420 and $25,667 due from related parties at September 30, 2020 and December 31, 2019, respectively)	26,163	26,838
Income taxes receivable	38
Prepaid expenses	4,971	3,724
Other current assets	704	207
Total current assets	128,011	123,060
Fixed assets, net	7,654	8,127
Notes receivable, net		28,172
Indemnification receivable (Note 22)	25,502	32,101
Securities held-to-maturity	501	16,863
Deferred tax assets, net	7,115	7,398
Investments (Note 9)	8,112	11,192
Right of use assets – operating leases (Note 15)	16,788	18,161
Goodwill (Note 24)	85,856	85,856
Intangible assets (Note 24)	601,247	603,294
Other noncurrent assets	185	983
Total assets	880,971	935,207
Current liabilities:
Fund management and administration payable	22,427	22,021
Compensation and benefits payable	13,881	26,501
Deferred consideration – gold payments (Note 11)	17,202	13,953
Securities sold, but not yet purchased, at fair value		582
Operating lease liabilities (Note 15)	3,124	3,682
Income taxes payable		3,372
Accounts payable and other liabilities	10,383	8,930
Total current liabilities	67,017	79,041
Convertible notes (Note 13)	165,819
Debt (Note 12)		175,956
Deferred consideration – gold payments (Note 11)	190,546	159,071
Operating lease liabilities (Note 15)	17,849	19,057
Other noncurrent liabilities (Note 22)	25,502	32,101
Total liabilities	466,733	465,226
Preferred stock – Series A Non-Voting Convertible, par value $0.01; 14.750 shares authorized, issued and outstanding; redemption value of $50,690 and $71,630 at September 30, 2020 and December 31, 2019, respectively) (Note 14)	132,569	132,569
Contingencies (Note 16)
Stockholders' equity
Preferred stock, par value $0.01; 2,000 shares authorized:
Common stock, par value $0.01; 250,000 shares authorized; issued and outstanding: 148,782 and 155,264 at September 30, 2020 and December 31, 2019, respectively	1,488	1,553
Additional paid-in capital	319,443	352,658
Accumulated other comprehensive income	640	945
Accumulated deficit	(39,902)	(17,744)
Total stockholders' equity	281,669	337,412
Total liabilities and stockholders' equity	$ 880,971	$ 935,207

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	148,782,000	155,264,000
Common stock, shares outstanding	148,782,000	155,264,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Accounts receivable from related parties	$ 23,420	$ 25,667
Securities owned, at fair value	32,574	17,319
Preferred Stock Redemption Value	50,690	71,630
WisdomTree ETF [Member]
Securities owned, at fair value	$ 23,906	$ 16,886
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	14.750	14.750
Preferred stock, shares issued	14.750	14.750
Preferred stock, shares outstanding	14.750	14.750

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020		Sep. 30, 2019	Sep. 30, 2020		Sep. 30, 2019
Operating Revenues:
Total revenues	$ 64,640		$ 67,718	$ 186,640		$ 199,496
Operating Expenses:
Compensation and benefits	19,098		18,880	53,848		61,481
Fund management and administration	15,219		15,110	44,165		45,852
Marketing and advertising	2,996		3,022	7,413		8,612
Sales and business development	2,386		4,354	7,984		12,947
Contractual gold payments (Note 11)	4,539		3,502	12,362		9,710
Professional and consulting fees	950		1,259	3,580		4,037
Occupancy, communications and equipment	1,611		1,549	4,805		4,715
Depreciation and amortization	253		259	760		792
Third-party distribution fees	1,233		1,503	3,928		5,822
Acquisition and disposition-related costs			190	416		536
Other	1,611		1,959	5,204		6,267
Total operating expenses	49,896		51,587	144,465		160,771
Operating income	14,744		16,131	42,175		38,725
Other Income/(Expenses):
Interest expense	(2,511)		(2,832)	(6,974)		(8,634)
Loss on revaluation of deferred consideration – gold payments (Note 11)	(8,870)		(6,306)	(34,436)		(5,939)
Interest income	111		799	393		2,396
Impairments (Note 26)	(3,080)			(22,752)		(572)
Loss on extinguishment of debt (Note12)				(2,387)
Other gains and losses, net	744		843	56		(3,500)
Income/(loss) before income taxes	1,138		8,635	(23,925)		22,476
Income tax expense/(benefit)	1,408		4,483	(1,767)		7,021
Net (loss)/income	$ (270)		$ 4,152	$ (22,158)		$ 15,455
(Loss)/earnings per share—basic	$ (0.01)		$ 0.02	$ (0.16)		$ 0.09
(Loss)/earnings per share—diluted	$ (0.01)		$ 0.02	$ (0.16)		$ 0.09
Weighted-average common shares—basic	145,564		151,897	149,886		151,782
Weighted-average common shares—diluted	145,564	[1]	167,163	149,886	[1]	166,944
Cash dividends declared per common share	$ 0.03		$ 0.03	$ 0.09		$ 0.09
Advisory Fees [Member]
Operating Revenues:
Total revenues	$ 63,919		$ 67,006	$ 184,077		$ 197,473
Other Income [Member]
Operating Revenues:
Total revenues	$ 721		$ 712	$ 2,563		$ 2,023
[1]	Excludes 15,307,153 and 14,997,269 participating securities and 4,669 and 5,437 potentially dilutive non-participating common stock equivalents for the three and nine months ended September 30, 2020 as the Company reported a net loss for the period.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income/(Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net (loss)/income	$ (270)	$ 4,152	$ (22,158)	$ 15,455
Other comprehensive income/(loss)
Foreign currency translation adjustment	380	(293)	(138)	(35)
Other comprehensive income/(loss)	380	(690)	(305)	(432)
Comprehensive income/(loss)	$ 110	3,462	(22,463)	15,023
WisdomTree Asset Management Canada, Inc [Member]
Other comprehensive income/(loss)
Reclassification of foreign currency translation adjustment to other gains and losses, net			$ (167)
Wisdom Tree Japan Inc [Member]
Other comprehensive income/(loss)
Reclassification of foreign currency translation adjustment to other gains and losses, net		$ (397)		$ (397)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2018	$ 358,335	$ 1,532	$ 363,655	$ 467	$ (7,319)
Balance, shares at Dec. 31, 2018		153,202,000
Restricted stock issued and vesting of restricted stock units, net		$ 18	(18)
Restricted stock issued and vesting of restricted stock units net, shares		1,910,000
Shares repurchased	(2,187)	$ (2)	(2,185)
Shares repurchased, shares		(338,000)
Exercise of stock options, net	70		70
Exercise of stock options net, shares		45,000
Stock-based compensation	8,581		8,581
Other comprehensive income (loss)	(432)			(432)
Dividends	(15,286)				(15,286)
Net income (loss)	15,455				15,455
Balance at Sep. 30, 2019	364,536	$ 1,548	370,103	35	(7,150)
Balance, shares at Sep. 30, 2019		154,819,000
Balance at Jun. 30, 2019	363,819	$ 1,551	367,750	725	(6,207)
Balance, shares at Jun. 30, 2019		155,108,000
Restricted stock issued and vesting of restricted stock units, net		$ (3)	3
Restricted stock issued and vesting of restricted stock units net, shares		(301,000)
Shares repurchased	(80)		(80)
Shares repurchased, shares		(13,000)
Exercise of stock options, net	56		56
Exercise of stock options net, shares		25,000
Stock-based compensation	2,374		2,374
Other comprehensive income (loss)	(690)			(690)
Dividends	(5,095)				(5,095)
Net income (loss)	4,152				4,152
Balance at Sep. 30, 2019	364,536	$ 1,548	370,103	35	(7,150)
Balance, shares at Sep. 30, 2019		154,819,000
Balance at Dec. 31, 2019	$ 337,412	$ 1,553	352,658	945	(17,744)
Balance, shares at Dec. 31, 2019	155,264,000	155,264,000
Restricted stock issued and vesting of restricted stock units, net		$ 16	(16)
Restricted stock issued and vesting of restricted stock units net, shares		1,601,000
Shares repurchased	$ (30,979)	$ (81)	(30,898)
Shares repurchased, shares		(8,190,000)
Exercise of stock options, net	240		240
Exercise of stock options net, shares		107,000
Stock-based compensation	9,003		9,003
Allocation of equity component related to convertible notes, net of issuance costs and deferred taxes	3,663		3,663
Other comprehensive income (loss)	(305)			(305)
Dividends	(15,207)		(15,207)
Net income (loss)	(22,158)				(22,158)
Balance at Sep. 30, 2020	$ 281,669	$ 1,488	319,443	640	(39,902)
Balance, shares at Sep. 30, 2020	148,782,000	148,782,000
Balance at Jun. 30, 2020	$ 287,532	$ 1,498	325,406	260	(39,632)
Balance, shares at Jun. 30, 2020		149,796,000
Restricted stock issued and vesting of restricted stock units, net		$ 1	(1)
Restricted stock issued and vesting of restricted stock units net, shares		52,000
Shares repurchased	(4,535)	$ (11)	(4,524)
Shares repurchased, shares		(1,066,000)
Stock-based compensation	2,844		2,844
Allocation of equity component related to convertible notes, net of issuance costs and deferred taxes	655		655
Other comprehensive income (loss)	380			380
Dividends	(4,937)		(4,937)
Net income (loss)	(270)				(270)
Balance at Sep. 30, 2020	$ 281,669	$ 1,488	$ 319,443	$ 640	$ (39,902)
Balance, shares at Sep. 30, 2020	148,782,000	148,782,000

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - Convertible Notes [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Net of Issuance Costs	$ 29	$ 157
Deferred tax liability	$ 222	$ 1,239

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net (loss)/income	$ (22,158)	$ 15,455
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:
Advisory fees received in gold and other precious metals	(46,077)	(36,306)
Loss on revaluation of deferred consideration – gold payments (Note 11)	34,436	5,939
Impairments	22,752	572
Contractual gold payments (Note 11)	12,362	9,710
Stock-based compensation	9,003	8,581
Gain on sale – Canadian ETF business	(2,877)
Loss on extinguishment of debt	2,387
Amortization of right of use asset	2,384	2,379
Amortization of issuance costs – former credit facility	1,328	2,159
Deferred income taxes	(961)	1,383
Amortization of issuance costs – convertible notes	882
Depreciation and amortization	760	792
Paid-in-kind interest income		(1,856)
Other	(1,173)	(330)
Changes in operating assets and liabilities:
Securities owned, at fair value	(15,255)	5,497
Accounts receivable	3,166	2,358
Income taxes receivable/payable	(3,399)	4,350
Prepaid expenses	(1,325)	(888)
Gold and other precious metals	32,969	25,751
Other assets	(341)	(571)
Fund management and administration payable	735	(366)
Compensation and benefits payable	(12,349)	1,476
Securities sold, but not yet purchased, at fair value	(582)	(1,130)
Operating lease liabilities	(2,778)	(2,662)
Accounts payable and other liabilities	1,679	788
Net cash provided by operating activities	15,568	43,081
Cash flows from investing activities:
Purchase of fixed assets	(292)	(25)
Funding of notes receivable		(1,790)
Proceeds from held-to-maturity securities maturing or called prior to maturity	16,441	2,313
Proceeds from the sale of the Company's financial interests in AdvisorEngine Inc.	9,592
Proceeds from sale of Canadian ETF business, net	2,774
Net cash provided by investing activities	28,515	498
Cash flows from financing activities:
Repayment of long-term debt	(179,000)	(15,000)
Shares repurchased	(30,979)	(2,187)
Dividends paid	(15,207)	(15,286)
Convertible notes issuance costs	(5,411)
Proceeds from the issuance of convertible notes (Note 13)	175,250
Proceeds from exercise of stock options	240	70
Net cash used in financing activities	(55,107)	(32,403)
Decrease in cash flow due to changes in foreign exchange rate	(387)	(385)
(Decrease)/increase in cash and cash equivalents	(11,411)	10,791
Cash and cash equivalents—beginning of period	74,972	77,784
Cash and cash equivalents—end of period	63,561	88,575
Supplemental disclosure of cash flow information:
Cash paid for taxes	7,650	5,439
Cash paid for interest	$ 3,390	$ 6,997

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Organization and Description of Business	1. Organization and Description of Business WisdomTree Investments, Inc., through its global subsidiaries (collectively, “WisdomTree” or the “Company”), is an exchange traded product (“ETP”) sponsor and asset manager headquartered in New York. WisdomTree offers ETPs covering equity, commodity, fixed income, leveraged-and-inverse, • WisdomTree Asset Management, Inc. non-consolidated open-end • WisdomTree Management Jersey Limited seven leveraged-and-inverse • WisdomTree Multi Asset Management Limited non-consolidated • WisdomTree Management Limited non-consolidated • WisdomTree UK Limited • WisdomTree Europe Limited • WisdomTree Ireland Limited • WisdomTree Commodity Services, LLC Sale of Canadian ETF Business On February 19, 2020, the Company completed the sale of WTAMC to CI Financial Corp. (Note 25).

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Basis of Presentation These consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) and in the opinion of management reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of financial condition, results of operations, and cash flows for the periods presented. The consolidated financial statements include the accounts of the Company’s wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Consolidation The Company consolidates entities in which it has a controlling financial interest. The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity (“VOE”) or a variable interest entity (“VIE”). The usual condition for a controlling financial interest in a VOE is ownership of a majority voting interest. If the Company has a majority voting interest in a VOE, the entity is consolidated. The Company has a controlling financial interest in a VIE when the Company has a variable interest that provides it with (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company reassesses its evaluation of whether an entity is a VIE when certain reconsideration events occur. Segment and Geographic Information Effective January 1, 2020, the Company, through its subsidiaries in the U.S. and Europe, conducts business as a single operating segment as an ETP sponsor and asset manager which is based upon the Company’s current organizational and management structure, as well as information used by the chief operating decision maker to allocate resources and other factors. Previously, the Company’s financial results were reported in its U.S. Business and International Business reportable segments. Foreign Currency Translation Assets and liabilities of subsidiaries whose functional currency is not the U.S. dollar are translated based on the end of period exchange rates from local currency to U.S. dollars. Results of operations are translated at the average exchange rates in effect during the period. The impact of the foreign currency translation adjustment is included in the Consolidated Statements of Comprehensive Income/(Loss) as a component of other comprehensive income/(loss). Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet dates and the reported amounts of revenues and expenses for the periods presented. Actual results could differ materially from those estimates. Revenue Recognition The Company earns substantially all of its revenue in the form of advisory fees from its ETPs and recognizes this revenue over time, as the performance obligation is satisfied. Advisory fees are based on a percentage of the ETPs’ average daily net assets. Progress is measured using the practical expedient under the output method resulting in the recognition of revenue in the amount for which the Company has a right to invoice. Contractual Gold Payments Contractual gold payments are measured and paid monthly based upon the average daily spot price of gold (Note 11). Marketing and Advertising Advertising costs, including media advertising and production costs, are expensed when incurred. Depreciation and Amortization Depreciation is provided for using the straight-line method over the estimated useful lives of the related assets as follows: Equipment 5 years Furniture and fixtures 15 years Leasehold improvements are amortized over the term of their respective leases or service lives of the improvements, whichever is shorter. Fixed assets are recorded at cost less accumulated depreciation and amortization. Stock-Based Awards Accounting for stock-based compensation requires the measurement and recognition of compensation expense for all equity awards based on estimated fair values. Stock-based compensation is measured based on the grant-date fair value of the award and is amortized over the relevant service period. Forfeitures are recognized when they occur. Third-Party Distribution Fees The Company pays a percentage of its advisory fee revenues based on incremental growth in assets under management (“AUM”), subject to caps or minimums, to marketing agents to sell WisdomTree ETFs and for including WisdomTree ETFs on third-party customer platforms. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of 90 days or less at the time of purchase to be classified as cash equivalents. The Company maintains deposits with financial institutions in an amount that is in excess of federally insured limits. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are customer and other obligations due under normal trade terms. The Company measures credit losses by applying historical loss rates, adjusted for current conditions and reasonable and supportable forecasts to amounts outstanding using the aging method. Impairment of Long-Lived Assets The Company performs a review for the impairment of long-lived assets when events or changes in circumstances indicate that the estimated undiscounted future cash flows expected to be generated by the assets are less than their carrying amounts or when other events occur which may indicate that the carrying amount of an asset may not be recoverable. Notes Receivable Notes receivable are accounted for on an amortized cost basis, including accrued interest and net of original issue discount and impairments, if any. Interest income is accrued over the term of the notes using the effective interest method. Notes receivable are placed on non-accrual non-accrual Effective January 1, 2020, the Company performs a review for the impairment of the notes receivable and accrued interest on a quarterly basis using the current expected credit loss model and provides for an allowance for credit losses by applying an estimated loss rate to amounts outstanding at the balance sheet date. Previously, credit losses were measured using an incurred loss approach. Securities Owned and Securities Sold, but not yet Purchased (at fair value) Securities owned and securities sold, but not yet purchased are securities classified as either trading or available-for-sale Securities Held-to-Maturity The Company accounts for certain of its securities as held-to-maturity held-to-maturity more-likely-than-not Held-to-maturity non-accrual held-to-maturity non-accrual Effective January 1, 2020, the Company reviews its portfolio of held-to-maturity Investments in pass-through government-sponsored enterprises (“GSEs”) are determined to have an estimated loss rate of zero due to an implicit U.S. government guarantee. Investments The Company accounts for equity investments that do not have a readily determinable fair value under the measurement alternative prescribed within Accounting Standards Update (“ASU”) 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Financial Liabilities minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. In addition, income is recognized when dividends are received only to the extent they are distributed from net accumulated earnings of the investee. Otherwise, such distributions are considered returns of investment and are recorded as a reduction of the cost of the investment. Goodwill Goodwill is the excess of the purchase price over the fair values of the identifiable net assets at the acquisition date. The Company tests goodwill for impairment at least annually and at the time of a triggering event requiring re-evaluation, Goodwill is allocated to the Company’s U.S. Business and European Business components. Effective January 1, 2020, for impairment testing purposes, these components are aggregated as a single reporting unit as they fall under the same operating segment and have similar economic characteristics. Previously, these components were tested separately for impairment when Company was operating as more than one operating segment. Goodwill is assessed for impairment annually on November 30 th When performing its goodwill impairment test, the Company considers a qualitative assessment, when appropriate, and a quantitative assessment using the market approach and its market capitalization when determining the fair value of the reporting units, in the aggregate. Intangible Assets Indefinite-lived intangible assets are tested for impairment at least annually and are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Indefinite-lived intangible assets are impaired if their estimated fair values are less than their carrying values. Finite-lived intangible assets, if any, are amortized over their estimated useful life, which is the period over which the assets are expected to contribute directly or indirectly to the future cash flows of the Company. These intangible assets are tested for impairment at the time of a triggering event, if one were to occur. Finite-lived intangible assets may be impaired when the estimated undiscounted future cash flows generated from the assets are less than their carrying amounts. The Company may rely on a qualitative assessment when performing its intangible asset impairment test. Otherwise, the impairment evaluation is performed at the lowest level of reasonably identifiable cash flows independent of other assets. The annual impairment testing date for all of the Company’s intangible assets is November 30 th Leases Effective January 1, 2019, the Company accounts for its lease obligations in accordance with Accounting Standards Codification (“ASC”) Topic 842, Leases right-of-use right-of-use ASC 842 also provides a practical expedient which allows for consideration in a contract to be accounted for as a single lease component rather than allocated between lease and non-lease Upon adoption of ASC 842 on January 1, 2019, the Company applied the transitional practical expedients to its outstanding leases and therefore the Company did not reassess (i) whether any expired or existing contracts are or contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. The Company also elected to apply the new lease requirements at the effective date, rather than the beginning of the earliest comparative period presented. Deferred Consideration – Gold Payments Deferred consideration represents the present value of an obligation to pay gold to a third party into perpetuity and is measured using forward-looking gold prices and a selected discount rate (Note 11). Changes in the fair value of this obligation are reported as (loss)/gain on revaluation of deferred consideration – gold payments on the Company’s Consolidated Statements of Operations. Convertible Notes and Debt Convertible notes and debt are carried at amortized cost, net of debt discounts and debt issuance costs. The convertible notes are required to be separated into their liability and equity components by allocating the issuance proceeds to each of these components. The liability component for convertible instruments that qualify for a derivative scope exception (applicable to the convertible notes) is allocated proceeds equal to the estimated fair value of similar debt instruments without the conversion option. The difference between the gross proceeds received from the issuance of the convertible notes and the proceeds allocated to the liability component represents the residual amount that is recorded in additional paid-in Earnings per Share Basic earnings per share (“EPS”) is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Net income available to common stockholders represents net income of the Company reduced by an allocation of earnings to participating securities. The Series A non-voting non-forfeitable two-class Diluted EPS is calculated under the treasury stock method and the two-class non-voting non-voting if-converted Income Taxes The Company accounts for income taxes using the liability method, which requires the determination of deferred tax assets and liabilities based on the differences between the financial and tax bases of assets and liabilities using the enacted tax rates in effect for the year in which differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more-likely-than-not Tax positions are evaluated utilizing a two-step more-likely-than-not Non-income Recently Issued Accounting In August 2020, the Financial Accounting Standards Board (“FASB”) issued 2020-06, Debt – Debt with Conversion and Other Options 2020-06). earnings-per-share Early adoption is permitted for fiscal periods The adoption of this ASU will result in a reduction In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes 2019-12). interim period when a year-to-date loss exceeds the anticipated loss for the year. The standard also simplifies the accounting for income taxes by enacting the following: (a) requiring that an entity recognize a franchise tax (or similar tax) that is partially based on income as an income-based tax and account for any incremental amount as a non-income-based 2019-12 and has not early adopted this ASU Recently Adopted Accounting Pronouncements On January 1, 2020, the Company adopted ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments 2016-13). off-balance off-balance held-to-maturity) 2016-13 held-to-maturity On January 1, 2020, the Company adopted ASU 2018-13, Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement 2018-13), 2018-13

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	Sep. 30, 2020
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	3. Cash and Cash Equivalents Of the total cash and cash equivalents of $ Certain of the Company’s international subsidiaries are required to maintain a minimum level of regulatory capital, which was $ In addition, the Company collateralized its U.S. office lease through a standby letter of credit totaling $1,384 which is restricted from further use.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The fair value of financial instruments is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., “the exit price”) in an orderly transaction between market participants at the measurement date. ASC 820, Fair Value Measurements Level 1 – Quoted prices for identical instruments in active markets. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 – Instruments whose significant drivers are unobservable. The availability of observable inputs can vary from product to product and is affected by a wide variety of factors, including, for example, the type of product, whether the product is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for instruments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The tables below summarize the categorization of the Company’s assets and liabilities measured at fair value. During the three and nine months ended September 30, 2020 and 2019 there were no transfers between Levels 2 and 3. September 30, 2020 Total Level 1 Level 2 Level 3 Assets: Recurring fair value measurements: Cash equivalents $ 2,577 $ 2,577 $ — $ — Securities owned, at fair value 32,574 24,101 8,473 — Total $ 35,151 $ 26,678 $ 8,473 $ — Liabilities: Recurring fair value measurements: Deferred consideration (Note 11) $ 207,748 $ — $ — $ 207,748 Non-recurring Convertible notes (1) $ 24,344 $ — $ 24,344 $ — (1) Fair value determined on August 13, 2020 (Note 13) December 31, 2019 Total Level 1 Level 2 Level 3 Assets: Recurring fair value measurements: Cash equivalents $ 317 $ 317 $ — $ — Securities owned, at fair value 17,319 17,319 — — Total $ 17,636 $ 17,636 $ — $ — Non-recurring AdvisorEngine Inc. – Financial interests (1) $ 28,172 — — $ 28,172 Liabilities: Recurring fair value measurements: Deferred consideration (Note 11) $ 173,024 $ — $ — $ 173,024 Securities sold, but not yet purchased 582 582 — — Total $ 173,606 $ 582 $ — $ 173,024 (1) Fair value determined on December 31, 2019 (Note 7). Recurring Fair Value Measurements—Methodology Cash Equivalents (Note 3) – These financial assets represent cash invested in highly liquid investments with original maturities of less than days. These investments are valued at par, which approximates fair value, and are c Securities Owned/Sold but Not Yet Purchased (Note 5) Deferred Consideration (Note 11) The following table presents a reconciliation of beginning and ending balances of recurring fair value measurements classified as Level 3: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Deferred consideration (Note 11) Beginning balance $ 198,784 $ 161,273 $ 173,024 $ 161,540 Net realized losses (1) 4,539 3,502 12,362 9,710 Net unrealized losses/(gains) (2) 8,870 6,306 34,436 5,939 Settlements (4,445 ) (3,441 ) (12,074 ) (9,549 ) Ending balance $ 207,748 $ 167,640 $ 207,748 $ 167,640 (1) Recorded as contractual gold payments expense on the Company’s Consolidated Statements of Operations. (2) Recorded as loss on revaluation of deferred consideration – gold payments on the Company’s Consolidated Statements of Operations.

Securities Owned_Sold, but Not

Securities Owned/Sold, but Not Yet Purchased	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Securities Owned/Sold, but Not Yet Purchased	5. Securities Owned/Sold, but Not Yet Purchased These securities consist of the following: September 30, December 31, Securities Owned Trading securities $ 32,574 $ 17,319 Securities Sold, but not yet Purchased Trading securities $ — $ 582 The Company had no AFS debt securities at September 30, 2020 and December 31, 2019.

Securities Held-to-Maturity

Securities Held-to-Maturity	9 Months Ended
	Sep. 30, 2020
Text Block [Abstract]
Securities Held-to-Maturity	6. Securities Held-to-Maturity The following table is a summary of the Company’s securities held-to-maturity: September 30, December 31, Debt instruments: Pass-through GSEs (amortized cost) $ 501 $ 16,863 During the nine months ended September 30, 2020 and 2019, the Company received proceeds of $16,441 held-to-maturity The following table summarizes unrealized gains, losses, and fair value (classified as Level 2 within the fair value hierarchy) of securities held-to-maturity: September 30, December 31, Cost/amortized cost $ 501 $ 16,863 Gross unrealized gains 37 38 Gross unrealized losses (17 ) (297 ) Fair value $ 521 $ 16,604 An allowance for credit losses was not provided on the Company’s held-to-maturity The following table sets forth the maturity profile of the securities held-to-maturity; September 30, December 31, Due within one year $ — $ — Due one year through five years — 2,000 Due five years through ten years — 7,494 Due over ten years 501 7,369 Total $ 501 $ 16,863

AdvisorEngine Inc. - Sale of Fi

AdvisorEngine Inc. - Sale of Financial Interests	9 Months Ended
	Sep. 30, 2020
Advisor Engine [Member]
AdvisorEngine Inc. – Sale of Financial Interests	7. AdvisorEngine Inc. – Sale of Financial Interests On May 4, 2020, the Company closed a transaction to exit its investment in AdvisorEngine Inc. (“AdvisorEngine”). The fair value of upfront consideration paid to the Company was $9,592. Consideration also includes contingent payments totaling up to $10,408 which will be payable only upon AdvisorEngine achieving certain revenue milestones during the first through fourth anniversaries of such exit. The fair value of the contingent payments was determined to be insignificant at closing and was measured using a Monte-Carlo simulation whereby forecasted revenue assumed during the first, second, third and fourth years was simulated forward in a risk-neutral framework to determine whether the revenues would exceed the pre-defined The table below presents the range and weighted averages of significant unobservable inputs utilized in the Monte-Carlo simulation (classified as Level 3 in the fair value hierarchy): Unobservable Inputs (Initial Recognition – May 4, 2020 Forecasted revenue simulated forward as a percentage of the pre-defined 34% - 71% (47% weighted average) Revenue volatility 25% The weighted-average forecasted revenue simulated forward as a percentage of the pre-defined The contingent payments are subsequently remeasured when the contingency is resolved and the gain is realized. Summarized below are the financial interests previously held: September 30, 2020 December 31, 2019 Amortized Net Carrying Amortized Net Carrying Unsecured convertible note $ — $ — $ 2,126 $ 2,126 Unsecured non-convertible — — 31,184 26,046 Subtotal—Notes receivable — — 33,310 28,172 Preferred stock — — 25,000 — Total $ — $ — (1) $ 58,310 $ 28,172 (1) (1) Net of an impairment of $30,138 at December 31, 2019. During the nine months ended September 30, 2020, the Company recorded an impairment of $19,672 on the carrying value of the notes receivable. During the three and nine months ended September 30, 2020, the Company recognized a gain of $225 and $1,093, respectively, arising from an adjustment to the estimated fair value of consideration received from the sale of its

Notes Receivable

Notes Receivable	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Notes Receivable	8. Notes Receivable On May 4, 2020, the Company closed a transaction to exit its investment in AdvisorEngine. See Note 7 for additional information. Accrued Interest Effective January 1, 2020, notes receivable were placed on non-accrual

Investments

Investments	9 Months Ended
	Sep. 30, 2020
Schedule of Investments [Abstract]
Investments	9. Investments The following table sets forth the Company’s investments: September 30, December 31, Securrency – Preferred stock $ 8,112 $ 8,112 Thesys Group, Inc. (“Thesys”) — 3,080 Total $ 8,112 $ 11,192 Securrency, Inc. – Preferred Stock On December 27, 2019, the Company made a $8,112 strategic investment in Securrency, Inc. (“Securrency”), a leading developer of institutional-grade blockchain-based financial and regulatory technology. In consideration of its investment, the Company received 5,178,488 shares of Series A convertible preferred stock representing approximately 25% ownership of Securrency (or approximately 20% on a fully diluted basis). The shares of Series A preferred stock are convertible into common stock at the option of the Company and contain various rights and protections including a non-cumulative The investment is accounted for under the measurement alternative prescribed within ASU 2016-01, in-substance Thesys On June 20, 2017, the Company was issued 7,797,533 newly authorized shares of Series Y preferred stock (“Series Y Preferred”) of Thesys in connection with the resolution of a dispute related to the Company’s ownership stake in Thesys. The Series Y Preferred represents current ownership of approximately 19% of Thesys on a fully diluted basis. The Series Y Preferred is accounted for under the measurement alternative prescribed within ASU 2016-01 in-substance During the three and nine months ended September 30, 2020, the Company recognized an impairment of $3,080 on its Series Y Preferred as Thesys has underperformed financially when assessed against prior expectations. The carrying value of the Series Y Preferred was $0 and $3,080 at September 30, 2020 and December 31, 2019, respectively.

Fixed Assets, net

Fixed Assets, net	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Fixed Assets, net	10. Fixed Assets, net The following table summarizes fixed assets: September 30, December 31, Equipment $ 2,576 $ 2,330 Furniture and fixtures 2,225 2,218 Leasehold improvements 10,976 10,989 Less: accumulated depreciation and amortization (8,123 ) (7,410 ) Total $ 7,654 $ 8,127

Deferred Consideration

Deferred Consideration	9 Months Ended
	Sep. 30, 2020
Text Block [Abstract]
Deferred Consideration	11. Deferred Consideration Deferred consideration represents an obligation the Company assumed in connection with its acquisition of the European exchange-traded commodity, currency and leveraged-and-inverse The Contractual Gold Payments are paid from advisory fee income generated by any Company-sponsored financial product backed by physical gold and are subject to adjustment and reduction for declines in advisory fee income generated by such products, with any reduction remaining due and payable until paid in full. ETFS Capital’s recourse is limited to such advisory fee income and it has no recourse back to the Company for any unpaid amounts that exceed advisory fees earned. ETFS Capital ultimately has the right to claw back Gold Bullion Securities Ltd. (a physically backed gold ETP issuer) if the Company fails to remit any amounts due. The Company determined the present value of the deferred consideration of $207,748 and $173,024 at September 30, 2020 and December 31, 2019 using the following assumptions: September 30, December 31, Forward-looking gold price (low) – per ounce $ 1,889 $ 1,535 Forward-looking gold price (high) – per ounce $ 2,678 $ 2,328 Forward-looking gold price (weighted average) – per ounce $ 2,104 $ 1,757 Discount rate 10.0 % 10.0 % Perpetual growth rate 0.9 % 1.5 % The forward-looking gold prices at September 30, 2020 were extrapolated from the last observable price (beyond 2026) and the weighted-average price per ounce was derived from the relative present values of the annual payment obligations. This obligation is classified as Level 3 as the discount rate, perpetual growth rate and extrapolated forward-looking gold prices are significant unobservable inputs. An increase in forward-looking gold prices and the perpetual growth rate would result in an increase in deferred consideration, whereas an increase in the discount rate would reduce the fair value. Current amounts payable were $17,202 and $13,953 and long-term amounts payable were $190,546 and $159,071, respectively, at September 30, 2020 and December 31, 2019, respectively. During the three and nine months ended September 30, 2020 and 2019, the Company recognized the following in respect of deferred consideration: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Contractual gold payments $ 4,539 $ 3,502 $ 12,362 $ 9,710 Contractual gold payments – gold ounces paid 2,375 2,375 7,125 7,125 Loss on revaluation of deferred consideration – gold payments (1) $ (8,870 ) $ (6,306 ) $ (34,436 ) $ (5,939 ) (1) Losses arise due to increases in the forward-looking price of gold

Credit Facility

Credit Facility	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Credit Facility	12. Credit Facility The following table provides a summary of the Company’s outstanding borrowings under its credit facility: September 30, 2020 December 31, 2019 Term Loan Revolver Term Loan Revolver Amount borrowed $ 179,000 $ — $ 200,000 $ — Amounts repaid (179,000 ) (1) — (21,000 ) — Amounts outstanding — — 179,000 — Unamortized issuance costs — — (3,044 ) 671 Carrying amount $ — $ — $ 175,956 $ 671 Effective interest rate 4.15 % n 5.32 % n (1) Includes $5,000 and $174,000 repaid on March 31, 2020 and June 16, 2020, respectively. On June 16, 2020, the Company terminated its credit facility by repaying $174,000 that was outstanding under its term loan and terminating the revolver. A loss on extinguishment of debt of $2,387 was recognized during the nine months ended September 30, 2020, which represented the write-off Interest expense recognized on the credit facility during the three months ended September 30, 2019 was $2,832 and during the nine months ended September 30, 2020 and 2019 was $4,086 and $8,634, respectively.

Convertible Notes

Convertible Notes	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Convertible Notes	13. Convertible Notes On August 13, 2020, the Company issued and sold $25,000 in aggregate principal amount of 4.25% Convertible Senior Notes due 2023 (the “Additional Notes”) pursuant to an Indenture (the “Indenture”), dated June 16, 2020, between the Company and U.S. Bank National Association, as trustee (the “Trustee”), in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The Additional Notes were issued at a price equal to 101% of the principal amount thereof, plus interest deemed to have accrued since June 16, 2020, and constitute a further issuance of, and form a single series with, the Company’s outstanding 4.25% Convertible Senior Notes due 2023 issued on June 16, 2020 in the aggregate principal amount of $150,000 (the “Existing Notes” and together with the Additional Notes, the “Convertible Notes”). Immediately after giving effect to the issuance of the Additional Notes, the Company had Key terms of the Convertible Notes are as follows: • Maturity date • Interest rate of 4.25% • Conversion price of $5.92 • Conversion • Cash settlement of principal amount • Redemption price of $7 70 th • Limited investor put rights • Conversion rate increase in certain customary circumstances • Seniority and Security Non-Voting The Indenture contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Convertible Notes outstanding may declare the entire principal amount of all the Convertible Notes to be repurchased, plus any accrued special interest, if any, to be immediately due and payable. The following table provides a summary of the carrying value of the Convertible Notes at September 30, 2020: Total Additional Notes Existing Notes Principal amount $ 175,000 $ 25,000 $ 150,000 Plus: premium 250 250 — Gross proceeds 175,250 25,250 150,000 Less: Unamortized debt discount and issuance costs (1) (9,431 ) (1,613 ) (7,818 ) Carrying amount $ 165,819 $ 23,637 $ 142,182 Effective interest rate (2) 6.29 % 6.37 % 6.28 % (1) The debt discount arose from the bifurcation of the conversion option. The unamortized debt discount and issuance costs is reported net of the unamortized premium on the Additional Notes. (2) Includes amortization of the discount arising from the bifurcation of the conversion option, amortization of the issuance costs allocated to the Convertible Notes and amortization of the premium associated with the Additional Notes. Convertible instruments are required to be separated into their liability and equity components by allocating the issuance proceeds to each of those components. The liability component for convertible instruments that qualify for a derivative scope exception (applicable to the Convertible Notes) is allocated proceeds equal to the estimated fair value of similar debt without the conversion option. The difference between the gross proceeds received from the issuance of the Convertible Notes and the proceeds allocated to the liability component represents the residual amount that is recorded in additional paid-in The Company estimated the fair value of the liability component of the Convertible Notes to be $170,191, which represents the present value of the future contractual payments, discounted using the Company’s estimated nonconvertible debt borrowing rate of 5.33% (classified as level 2 in the fair value hierarchy) on the pricing date. The excess of the gross proceeds received over the estimated fair value of the liability component totaling $5,059 ($906 and $4,153 for the Additional Notes and Existing Notes, respectively) was allocated to the conversion option (along with a proportional share of issuance costs totaling $157 ) paid-in Interest expense recognized during the three and nine months ended September 30, 2020 was $2,511 and $2,888, respectively. Interest payable of $2,173 at September 30, 2020 is included in accounts payable and other liabilities on the Consolidated Balance Sheets. The fair value of the Convertible Notes (classified as Level 2 in the fair value hierarchy) was $167,153 at September 30, 2020. The if-converted

Preferred Shares

Preferred Shares	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Preferred Shares	14. Preferred Shares On April 10, 2018, the Company filed a Certificate of Designations of Series A Non-Voting as-converted As described in the Certificate of Designations, the Company will not issue, and ETFS Capital does not have the right to require the Company to issue, any shares of common stock upon conversion of the Preferred Shares, if, as a result of such conversion, ETFS Capital (together with certain attribution parties) would beneficially own more than 9.99% of the Company’s outstanding common stock immediately after giving effect to such conversion. In connection with the completion of the ETFS Acquisition, the Company issued 14,750 shares of Series A Non-Voting The following is a summary of the Preferred Share balance: September 30, 2020 December 31, Issuance of Preferred Shares $ 132,750 $ 132,750 Less: Issuance costs (181 ) (181 ) Preferred Shares – carrying value $ 132,569 $ 132,569 Temporary equity classification is required for redeemable instruments for which redemption triggers are outside of the issuer’s control. ETFS Capital has the right to redeem all the Preferred Shares specified to be converted during the period of time specified in the Certificate of Designations in the event that: (a) the number of shares of the Company’s common stock authorized by its certificate of incorporation is insufficient to permit the Company to convert all of the Preferred Shares requested by ETFS Capital to be converted; or (b) ETFS Capital does not, upon completion of a change of control of the Company, receive the same amount per Preferred Share as it would have received had each outstanding Preferred Share been converted into common stock immediately prior to the change of control. However, the Company will not be obligated to make any such redemption payments to the extent such payments would be a breach of any covenant or obligation the Company owes to any of its secured creditors or is otherwise prohibited by applicable law. Any such redemption will be at a price per Preferred Share equal to the dollar volume-weighted average price for a share of common stock for the 30-trading The carrying amount of the Preferred Shares was not adjusted

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Lessee Disclosure [Abstract]
Leases	15. Leases The Company has entered into operating leases for its corporate headquarters and other office facilities, financial data terminals and equipment. The Company has no finance leases. The following table provides additional information regarding the Company’s leases: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Lease cost: Operating lease cost $ 796 $ 789 $ 2,384 $ 2,379 Short-term lease cost 299 322 941 1,094 Total lease cost $ 1,095 $ 1,111 $ 3,325 $ 3,473 Other information: Cash paid for amounts included in the measurement of operating liabilities (operating leases) $ 933 $ 902 $ 2,778 $ 2,662 Right-of-use n/a n/a n/a n/a Weighted-average remaining lease term (in years) – operating leases 8.9 9.6 8.9 9.6 Weighted-average discount rate – operating leases 6.3 % 6.3 % 6.3 % 6.3 % None of the Company’s leases include variable payments, residual value guarantees or any restrictions or covenants relating to the Company’s ability to pay dividends or incur additional financing obligations. The Company’s lease of its headquarters, which expires on August 20, 2029, includes an option to extend for an additional five years. Rent payable under the option is equal to the fair market rent of the premises right-of-use Other leases also include extension, automatic renewal and termination provisions. These provisions were also not reasonably certain of being exercised and were therefore not recognized as part of the right-of-use The following table discloses future minimum lease payments at September 30, 2020 with respect to the Company’s operating lease liabilities: Remainder of 2020 $ 907 2021 2,958 2022 2,958 2023 2,958 2024 3,037 2025 and thereafter 14,604 Total future minimum lease payments (undiscounted) $ 27,422 The following table reconciles the future minimum lease payments (disclosed above) at September 30, 2020 to the operating lease liabilities recognized in the Company’s Consolidated Balance Sheet: Amounts recognized in the Company’s Consolidated Balance Sheet Lease liability – short term $ 3,124 Lease liability – long term 17,849 Subtotal 20,973 Difference between undiscounted and discounted cash flows 6,449 Total future minimum lease payments (undiscounted) $ 27,422

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	16. Contingencies The Company may be subject to reviews, inspections and investigations by regulatory authorities as well as legal proceedings arising in the ordinary course of business. The Company is not currently party to any litigation that is expected to have a material adverse impact on its business, financial position, results of operations or cash flows.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2020
Variable Interest Entities	17. Variable Interest Entities VIEs are entities with any of the following characteristics: (i) the entity does not have enough equity to finance its activities without additional financial support; (ii) the equity holders, as a group, lack the characteristics of a controlling financial interest; or (iii) the entity is structured with non-substantive Consolidation of a VIE is required for the party deemed to be the primary beneficiary, if any. The primary beneficiary is the party who has both (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity. The Company is not the primary beneficiary of any entities in which it has a variable interest as it does not have the power to direct the activities that most significantly impact the entities’ economic performance. Such power is conveyed through the entities’ boards of directors and the Company does not have control over the boards. The following table presents information about the Company’s variable interests in non-consolidated September 30, 2020 December 31, 2019 Carrying Amount – Assets (Securrency) Preferred stock (Note 9) $ 8,112 $ 8,112 Carrying Amount – Assets (AdvisorEngine) Unsecured convertible notes receivable $ — $ 2,126 Unsecured non-convertible — 26,046 Preferred stock — — Total carrying amount (Note 7) $ — $ 28,172 Total carrying amount – Assets $ 8,112 $ 36,284 Maximum exposure to loss $ 8,112 $ 36,284

Revenues from Contracts with Cu

Revenues from Contracts with Customers	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	18. Revenues from Contracts with Customers The following table presents the Company’s total revenues from contracts with customers: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Revenues from contracts with customers: Advisory fees $ 63,919 $ 67,006 $ 184,077 $ 197,473 Other 721 712 2,563 2,023 Total operating revenues $ 64,640 $ 67,718 $ 186,640 $ 199,496 The Company recognizes revenues from contracts with customers when the performance obligation is satisfied, which is when the promised goods or services are transferred to the customer. A good or service is considered to be transferred when the customer obtains control, which is represented by the transfer of rights with regard to the good or service. Transfer of control happens either over time or at a point in time. When a performance obligation is satisfied over time, an entity is required to select a single method of measuring progress for each performance obligation that depicts the entity’s performance in transferring control of goods or services to the customer. Substantially all the Company’s revenues from contracts with customers are derived primarily from investment advisory agreements with related parties (Note 19). These advisory fees are recognized over time, are earned from the Company’s ETPs and are calculated based on a percentage of the ETPs’ average daily net assets. There is no significant judgment in calculating amounts due which are invoiced monthly in arrears and are not subject to any potential reversal. Progress is measured using the practical expedient under the output method resulting in the recognition of revenue in the amount for which the Company has a right to invoice. There are no contract assets or liabilities that arise in connection with the recognition of advisory fee revenue. In addition, there are no costs incurred to obtain or fulfill the contracts with customers, all of which are investment advisory agreements with related parties. Geographic Distribution of Revenue The following table presents the Company’s total revenues geographically as determined by where the respective management companies reside: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Revenues from contracts with customers: United States $ 34,018 $ 42,030 $ 105,517 $ 127,799 Jersey 29,527 23,896 77,693 66,425 Ireland 1,095 1,164 3,065 3,491 Canada (Note 25) — 628 365 1,781 Total operating revenues $ 64,640 $ 67,718 $ 186,640 $ 199,496

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	19. Related Party Transactions The Company’s revenues are derived primarily from investment advisory agreements with related parties. Under these agreements, the Company has licensed to related parties the use of certain of its own indexes for the U.S. and WisdomTree UCITS ETFs. The Board of Trustees and Board of Directors (including certain officers of the Company) of the related parties are primarily responsible for overseeing the management and affairs of the entities for the benefit of their stakeholders and have contracted with the Company to provide for general management and administration services. The Company is also responsible for certain expenses of the related parties, including the cost of transfer agency, custody, fund administration and accounting, legal, audit, and other non-distribution The following table summarizes accounts receivable from related parties which are included as a component of accounts receivable on the Company’s Consolidated Balance Sheets: September 30, December 31, Receivable from WTT $ 11,191 $ 14,765 Receivable from ManJer Issuers 10,678 9,036 Receivable from WMAI and WTI 1,497 1,559 Receivable from WTAMC (Note 25) — 227 Receivable from WTCS 54 80 Total $ 23,420 $ 25,667 The allowance for credit losses on accounts receivable from related parties is insignificant when applying historical loss rates, adjusted for current conditions and supportable forecasts, to the amounts outstanding in the table above. Amounts outstanding are all invoiced in arrears, are less than 30 days aged and are collected shortly after the applicable reporting period. The following table summarizes revenues from advisory services provided to related parties: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Advisory services provided to WTT $ 33,767 $ 41,721 $ 104,757 $ 126,761 Advisory services provided to ManJer Issuers 27,397 21,758 71,325 60,398 Advisory services provided to WMAI and WTI 2,603 2,670 7,145 7,757 Advisory services provided to WTAMC (Note 25) — 628 365 1,781 Advisory services provided to WTCS 152 229 485 776 Total $ 63,919 $ 67,006 $ 184,077 $ 197,473 The Company also has investments in certain WisdomTree ETFs of approximately $23,906 and $16,886 at September 30, 2020 and December 31, 2019, respectively. Gains related to trading WisdomTree

Stock-Based Awards

Stock-Based Awards	9 Months Ended
	Sep. 30, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Awards	20. Stock-Based Awards On June 20, 2016, the Company’s stockholders approved a new equity award plan under which the Company can issue up to 10,000,000 shares of common stock (less one share for every share granted under prior plans since March 31, 2016 and inclusive of shares available under the prior plans as of March 31, 2016) in the form of stock options and other stock-based awards. The Company grants equity awards to employees and directors which include restricted stock awards (“RSAs”), restricted stock units (“RSUs”), performance-based restricted stock units (“PRSUs”) and stock options. Certain awards described below are subject to acceleration under certain conditions. Stock options: Generally issued for terms of ten years and may vest after at least one year of service and have an exercise price equal to the Company’s stock price on the grant date. The Company estimates the fair value of stock options (when granted) using the Black-Scholes option pricing model. RSAs/RSUs: Awards are valued based on the Company’s stock price on grant date and generally vest ratably over three years. PRSUs: These awards cliff vest three years from the grant date and contain a market condition whereby the number of PRSUs ultimately vesting is tied to how the Company’s total shareholder return (“TSR”) compares to a peer group of other publicly traded asset managers over the three-year period. A Monte Carlo simulation is used to value these awards. The number of PRSUs vesting ranges from 0% to 200% of the target number of PRSUs granted, as follows: • If the relative TSR is below the 25 th • If the relative TSR is at the 25 th • If the relative TSR is above the 25 th th th Stock-based compensation during the three months ended September 30, 2020 and 2019 was $2,844 and $2,374, respectively, and during the nine months ended September 30, 2020 and 2019 was $9,003 and $8,581, respectively. A summary of unrecognized stock-based compensation expense and average remaining vesting period is as follows: September 30, 2020 Unrecognized Stock- Average Employees and directors $ 12,669 1.49 A summary of stock-based compensation award activity during the three months ended September 30, 2020 Stock RSAs RSUs PRSUs Balance at July 1, 2020 315,000 3,696,879 43,056 349,623 Granted — 80,862 — — Exercised/vested — (53,955 ) — — Forfeitures — (28,863 ) — (8,311 ) Balance at September 30, 2020 315,000 3,694,923 43,056 341,312

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	21. Earnings Per Share The following tables set forth reconciliations of the basic and diluted earnings per share computations for the periods presented: Three Months Nine Months Ended Basic (Loss)/Earnings per Share 2020 2019 2020 2019 Net (loss)/income $ (270 ) $ 4,152 $ (22,158 ) $ 15,455 Less: Income distributed to participating securities (556 ) (539 ) (1,663 ) (1,622 ) Less: Undistributed income allocable to participating securities — — — (18 ) Net (loss)/income available to common stockholders – Basic EPS $ (826 ) $ 3,613 $ (23,821 ) $ 13,815 Weighted average common shares (in thousands) 145,564 151,897 149,886 151,782 Basic (loss)/earnings per share $ (0.01 ) $ 0.02 $ (0.16 ) $ 0.09 Three Months Ended Nine Months Ended Diluted (Loss)/Earnings per Share 2020 2019 2020 2019 Net (loss)/income available to common stockholders $ (826 ) $ 3,613 $ (23,821 ) $ 13,815 Add back: Undistributed income allocable to participating securities — — — 18 Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive — — — (18 ) Net (loss)/income available to common stockholders – Diluted EPS $ (826 ) $ 3,613 $ (23,821 ) $ 13,815 Weighted Average Diluted Shares (in thousands) Weighted average common shares 145,564 151,897 149,886 151,782 Dilutive effect of common stock equivalents, excluding participating securities — 135 — 172 Weighted average diluted shares, excluding participating securities (in thousands) 145,564 152,032 149,886 151,954 Diluted (loss)/earnings per share $ (0.01 ) $ 0.02 $ (0.16 ) $ 0.09 Diluted (loss)/earnings per share presented above is calculated using the two-class non-participating , 2020 and , respectively . Potential common shares associated with the conversion option embedded in the Convertible Notes were excluded from the computation for the three and nine months ended September 30, 2020 as the Company’s average stock price during those respective periods was lower than the conversion price of $5.92 per share. The following table reconciles weighted average diluted shares as reported on the Company’s consolidated statements of operations for the three and nine months ended September 30, 2020 and 2019 to the weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above: Three Months Ended Nine Months Ended Reconciliation of Weighted Average Diluted Shares (in thousands) 2020 2019 2020 2019 Weighted average diluted shares as disclosed on the consolidated statements of operations 145,564 (1) 167,163 149,886 (1) 166,944 Less: Participating securities Weighted average shares of common stock issuable upon conversion of the Preferred Shares (Note 14) — (14,750 ) — (14,750 ) Potentially dilutive restricted stock awards — (381 ) — (240 ) Weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above 145,564 152,032 149,886 151,954 (1) Excludes 15,307,153 and 14,997,269 participating securities and 4,669 and 5,437 potentially dilutive non-participating

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	22. Income Taxes Effective Income Tax Rate – Three and Nine Months Ended September 30, 2020 The Company’s effective income tax rate during the three months ended September 30, 2020 of 123.7% resulted in income tax expense of $1,408. The tax rate differs from the federal statutory tax rate of 21% primarily due to a non-deductible The Company’s effective income tax rate for the nine months ended September 30, 2020 of 7.4% resulted in an income tax benefit of $1,767. The tax rate differs from the federal statutory rate of 21% primarily due to a valuation allowance on capital losses, a non-deductible non-taxable gain recognized upon sale of the Canadian ETF business in the first quarter, a tax benefit of $ recognized in connection with the release of a deferred tax asset valuation arising from our debt previously held in the United Kingdom and a lower tax rate on foreign earnings. Effective Income Tax Rate – Three and Nine Months Ended September 30, 2019 The Company’s effective income tax rate during the three months ended September 30, 2019 of 51.9% resulted in income tax expense of $4,483. The tax rate differs from the federal statutory tax rate of 21% primarily due to a valuation allowance on foreign net operating losses, a non-deductible non-deductible The Company’s effective income tax rate during the nine months ended September 30, 2019 of 31.2% resulted in income tax expense of $7,021. The tax rate differs from the federal statutory tax rate of 21% primarily due to a valuation allowance on foreign net operating losses, a non-deductible Deferred Tax Assets A summary of the components of the Company’s deferred tax assets at September 30, 2020 and December 31, 2019 are as follows: September 30, 2020 December 31, 2019 Deferred tax assets: Capital losses $ 16,734 $ 8,226 Operating lease liabilities 5,096 5,529 Interest carryforwards 2,582 2,615 NOLs – International 2,069 6,721 Accrued expenses 1,992 4,054 Stock-based compensation 1,793 1,754 Goodwill and intangible assets 1,526 1,671 NOLs – U.S. 514 642 Outside basis differences 123 123 Other 110 218 Deferred tax assets 32,539 31,553 Deferred tax liabilities: Right of use assets – operating leases 4,038 4,400 Fixed assets and prepaid assets 1,328 1,326 Allocated equity component of convertible note 1,132 — Unrealized gains — 744 Deferred tax liabilities 6,498 6,470 Total deferred tax assets less deferred tax liabilities 26,041 25,083 Less: valuation allowance (18,926 ) (17,685 ) Deferred tax assets, net $ 7,115 $ 7,398 Net Operating and Capital Losses – U.S . The Company’s tax effected net operating losses (“NOLs”) at September 30, 2020 were $514 which expire in 2024. The net operating loss carryforwards have been reduced by the impact of annual limitations described in the Internal Revenue Code Section 382 that arose as a result of an ownership change. The Company’s tax effected capital losses at September 30, 2020 and December 31, 2019 were $16,734 and $8,226, respectively. The change in capital losses is due to the impairment recognized on the Company’s financial interests in AdvisorEngine (Note 7) and a capital loss recognized upon sale of the Canadian ETF business. Net Operating Losses and Interest Carryforwards – International Certain of the Company’s European subsidiaries generated NOLs and interest carryforwards outside the U.S. These tax effected NOLs and interest carryforwards were $4,651 and $9,336 at September 30, 2020 and December 31, 2019, respectively. All of these amounts are carried forward indefinitely. The reduction in NOLs was due to the sale of the Company’s Canadian ETF business, which occurred on February 19, 2020 (Note 25). Valuation Allowance During the nine months ended September 30, 2020, the Company reduced the valuation allowance on its deferred tax assets by $2,842 associated with interest carryforwards in the United Kingdom. The Company has determined that it is more likely than not that these interest carryforwards will be utilized as the Company extinguished its term loan on June 16, 2020 and is therefore no longer accumulating non-deductible T The Company’s remaining valuation allowance has been established on its capital losses, international net operating losses and outside basis differences as it is more-likely-than-not Coronavirus Aid, Relief, and Economic Security Act of 2020 (the “CARES Act”) On March 27, 2020, the CARES Act was enacted in response to the COVID-19 non-income Uncertain Tax Positions Tax positions are evaluated utilizing a two-step more-likely-than-not In connection with the ETFS Acquisition, the Company accrued a liability for uncertain tax positions and interest and penalties at the acquisition date. The table below sets forth the aggregate changes in the balance of these gross unrecognized tax benefits during the three and nine months ended September 30, 2020: Total Unrecognized Interest and Balance on January 1, 2020 $ 32,101 $ 25,998 $ 6,103 Decrease—Lapse (1) (5,981 ) (4,620 ) (1,361 ) Increases 76 — 76 Foreign currency translation (2) (1,767 ) (1,432 ) (335 ) Balance at March 31, 2020 $ 24,429 $ 19,946 $ 4,483 Increases 76 — 76 Foreign currency translation (2) (141 ) (115 ) (26 ) Balance at June 30, 2020 $ 24,364 $ 19,831 $ 4,533 Increases 81 — 81 Foreign currency translation (2) 1,057 860 197 Balance at September 30, 2020 $ 25,502 $ 20,691 $ 4,811 (1) Recorded as an income tax benefit of $5,981 during the nine months ended September 30, 2020, along with an equal and offsetting amount recorded in other gains and losses, net, to recognize a reduction in the indemnification asset. During the nine months ended September (2) The gross unrecognized tax benefits were accrued in British pounds. The Company also recorded an offsetting indemnification asset provided by ETFS Capital as part of its agreement to indemnify the Company for any potential claims, for which an amount is being held in escrow. ETFS Capital has also agreed to provide additional collateral by maintaining a minimum working capital balance up to a stipulated amount. The gross unrecognized tax benefits and interest and penalties totaling $25,502 and $32,101 at September 30, 2020 and December 31, 2019, respectively, are included in other non-current At September 30, 2020, there were $25,502 of unrecognized tax benefits (including interest and penalties) that, if recognized, would impact the effective tax rate. The recognition of any unrecognized tax benefits would result in an equal and offsetting adjustment to the indemnification asset which would be recorded in income before taxes due to the indemnity for any potential claims. Income Tax Examinations The Company is subject to U.S. federal income tax as well as income tax of multiple state, local and certain foreign jurisdictions. The Company’s federal tax return and ManJer’s tax return (a Jersey-based subsidiary) for the year ended December 31, 2016 is currently under review by the relevant tax authorities. The Company is indemnified by ETFS Capital for any potential exposure associated with ManJer’s tax return under audit. The Company is not currently under audit in any other income tax jurisdictions. As of September 30, 2020, with few exceptions, the Company was no longer subject to income tax examinations by any taxing authority for years before 2016. Undistributed Earnings of Foreign Subsidiaries Due to the imposition of the Global Intangible Low-Taxed

Shares Repurchased

Shares Repurchased	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Shares Repurchased	23. Shares Repurchased On April 24, 2019, the Company’s Board of Directors extended the term of the Company’s share repurchase program for three years through April 27, 2022. Included under this program are purchases to offset future equity grants made under the Company’s equity plans and purchases made in open market or privately negotiated transactions. This authority may be exercised from time to time, subject to the terms of the credit agreement described below and regulatory considerations. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, market conditions and other corporate liquidity requirements and priorities. The repurchase program may be suspended or terminated at any time without prior notice. Shares repurchased under this program are returned to the status of authorized and unissued on the Company’s books and records. During the three and nine months ended September 30, 2020, the Company repurchased 1,066,261 shares and 8,189,973 shares of its common stock, respectively, under this program for an aggregate cost of $4,535 and $30,979, respectively. During the three and nine months ended September 30, 2019, the Company repurchased 13,300 shares and 338,578 shares of its common stock, respectively, under this program for an aggregate cost of $80 and $2,187, respectively. Shares repurchased under this program were returned to the status of authorized and unissued on the Company’s books and records. As of September 30, 2020, $52,410 remained under this program for future purchases.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	24. Goodwill and Intangible Assets Goodwill The table below sets forth goodwill which is tested annually for impairment on November 30 th Total Balance at January 1, 2020 $ 85,856 Changes — Balance at September 30, 2020 $ 85,856 Goodwill arising from the ETFS Acquisition of $84,057 is not deductible for tax purposes as the acquisition was structured as a stock acquisition occurring in the United Kingdom. The remainder of the goodwill is deductible for U.S. tax purposes. Intangible Assets (Indefinite-Lived) The table below sets forth the Company’s intangible assets which are tested annually for impairment on November 30 th Advisory (ETFS) Advisory Total Balance at January 1, 2020 $ 601,247 $ 2,047 $ 603,294 Decreases (1) — (1,992 ) (1,992 ) Foreign currency translation — (55 ) (55 ) Balance at September 30, 2020 $ 601,247 $ — $ 601,247 (1) Derecognized upon the sale of the Company’s Canadian ETF business (Note 25). ETFS In connection with the ETFS Acquisition, which was completed on April 11, 2018, the Company identified intangible assets valued at $601,247 related to the right to manage AUM through customary advisory agreements. The intangible assets were determined to have indefinite useful lives and are not deductible for tax purposes.

Exit Activities

Exit Activities	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Exit Activities	25. Exit Activities The following table summarizes operating losses recognized by the Company’s wholly-owned subsidiaries that have either been sold or liquidated during reporting periods covered by its consolidated financial statements: Three Months Ended Nine Months Ended 2020 2019 2020 2019 WTAMC $ — $ 502 $ 428 $ 1,886 WisdomTree Japan Inc. (“WTJ”) (1) — 85 — 550 Total $ — $ 587 $ 428 $ 2,436 (1) WTJ also recognized an impairment expense of $572 in connection with the termination of its office lease on March 31, 2019. Sale of Canadian ETF Business On February 19, 2020, the Company completed the sale of all the outstanding shares of WTAMC to CI Financial Corp. The Company received CDN $3,720 (USD $2,774) in cash at closing and will receive additional cash consideration of CDN $2,000 to $8,000, depending on the achievement of certain AUM growth targets over the next three years. During the nine months ended September 30, 2020, the Company recognized a $2,877 gain on sale which was recorded in other gains and losses, net on the Consolidated Statements of Operations and represents the difference between the minimum cash consideration payable to the Company and the carrying value of WTAMC’s net assets upon disposition. Contingent payments, if any, are recognized by the Company when the contingency is resolved and the gain is realized. Restructuring of Distribution Strategy in Japan In July 2018, the Company determined to restructure its distribution strategy in Japan .

Impairments

Impairments	9 Months Ended
	Sep. 30, 2020
Disclosure Text Block Supplement [Abstract]
Impairments	26. Impairments The following table summarizes impairments recognized by the Company: Three Months Ended Nine Months Ended 2020 2019 2020 2019 AdvisorEngine – Financial Interests (Note 7) $ — $ — $ 19,672 $ — Thesys – Series Y Preferred (Note 9) 3,080 — 3,080 — WTJ (Note 25) — — — 572 Total $ 3,080 $ — $ 22,752 $ 572

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	27. Subsequent Events The Company evaluated subsequent events through the date of issuance of the accompanying consolidated financial statements. There were no events requiring disclosure.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) and in the opinion of management reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of financial condition, results of operations, and cash flows for the periods presented. The consolidated financial statements include the accounts of the Company’s wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Consolidation	Consolidation The Company consolidates entities in which it has a controlling financial interest. The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity (“VOE”) or a variable interest entity (“VIE”). The usual condition for a controlling financial interest in a VOE is ownership of a majority voting interest. If the Company has a majority voting interest in a VOE, the entity is consolidated. The Company has a controlling financial interest in a VIE when the Company has a variable interest that provides it with (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE.
Segment and Geographic Information	Segment and Geographic Information Effective January 1, 2020, the Company, through its subsidiaries in the U.S. and Europe, conducts business as a single operating segment as an ETP sponsor and asset manager which is based upon the Company’s current organizational and management structure, as well as information used by the chief operating decision maker to allocate resources and other factors. Previously, the Company’s financial results were reported in its U.S. Business and International Business reportable segments.
Foreign Currency Translation	Foreign Currency Translation Assets and liabilities of subsidiaries whose functional currency is not the U.S. dollar are translated based on the end of period exchange rates from local currency to U.S. dollars. Results of operations are translated at the average exchange rates in effect during the period. The impact of the foreign currency translation adjustment is included in the Consolidated Statements of Comprehensive Income/(Loss) as a component of other comprehensive income/(loss).
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet dates and the reported amounts of revenues and expenses for the periods presented. Actual results could differ materially from those estimates.
Revenue Recognition	Revenue Recognition The Company earns substantially all of its revenue in the form of advisory fees from its ETPs and recognizes this revenue over time, as the performance obligation is satisfied. Advisory fees are based on a percentage of the ETPs’ average daily net assets. Progress is measured using the practical expedient under the output method resulting in the recognition of revenue in the amount for which the Company has a right to invoice.
Contractual Gold Payments	Contractual Gold Payments Contractual gold payments are measured and paid monthly based upon the average daily spot price of gold (Note 11).
Marketing and Advertising	Marketing and Advertising Advertising costs, including media advertising and production costs, are expensed when incurred.
Depreciation and Amortization	Depreciation and Amortization Depreciation is provided for using the straight-line method over the estimated useful lives of the related assets as follows: Equipment 5 years Furniture and fixtures 15 years Leasehold improvements are amortized over the term of their respective leases or service lives of the improvements, whichever is shorter. Fixed assets are recorded at cost less accumulated depreciation and amortization.
Stock-Based Awards	Stock-Based Awards Accounting for stock-based compensation requires the measurement and recognition of compensation expense for all equity awards based on estimated fair values. Stock-based compensation is measured based on the grant-date fair value of the award and is amortized over the relevant service period. Forfeitures are recognized when they occur.
Third-Party Distribution Fees	Third-Party Distribution Fees The Company pays a percentage of its advisory fee revenues based on incremental growth in assets under management (“AUM”), subject to caps or minimums, to marketing agents to sell WisdomTree ETFs and for including WisdomTree ETFs on third-party customer platforms.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of 90 days or less at the time of purchase to be classified as cash equivalents. The Company maintains deposits with financial institutions in an amount that is in excess of federally insured limits.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are customer and other obligations due under normal trade terms. The Company measures credit losses by applying historical loss rates, adjusted for current conditions and reasonable and supportable forecasts to amounts outstanding using the aging method.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company performs a review for the impairment of long-lived assets when events or changes in circumstances indicate that the estimated undiscounted future cash flows expected to be generated by the assets are less than their carrying amounts or when other events occur which may indicate that the carrying amount of an asset may not be recoverable.
Notes Receivable	Notes Receivable Notes receivable are accounted for on an amortized cost basis, including accrued interest and net of original issue discount and impairments, if any. Interest income is accrued over the term of the notes using the effective interest method. Notes receivable are placed on non-accrual non-accrual Effective January 1, 2020, the Company performs a review for the impairment of the notes receivable and accrued interest on a quarterly basis using the current expected credit loss model and provides for an allowance for credit losses by applying an estimated loss rate to amounts outstanding at the balance sheet date. Previously, credit losses were measured using an incurred loss approach.
Securities Owned and Securities Sold, but not yet Purchased (at fair value)	Securities Owned and Securities Sold, but not yet Purchased (at fair value) Securities owned and securities sold, but not yet purchased are securities classified as either trading or available-for-sale
Securities Held-to-Maturity	Securities Held-to-Maturity The Company accounts for certain of its securities as held-to-maturity held-to-maturity more-likely-than-not Held-to-maturity non-accrual held-to-maturity non-accrual Effective January 1, 2020, the Company reviews its portfolio of held-to-maturity Investments in pass-through government-sponsored enterprises (“GSEs”) are determined to have an estimated loss rate of zero due to an implicit U.S. government guarantee.
Investments	Investments The Company accounts for equity investments that do not have a readily determinable fair value under the measurement alternative prescribed within Accounting Standards Update (“ASU”) 2016-01, Financial Instruments – Recognition and Measurement of Financial Assets and Financial Liabilities
Goodwill	Goodwill Goodwill is the excess of the purchase price over the fair values of the identifiable net assets at the acquisition date. The Company tests goodwill for impairment at least annually and at the time of a triggering event requiring re-evaluation, Goodwill is allocated to the Company’s U.S. Business and European Business components. Effective January 1, 2020, for impairment testing purposes, these components are aggregated as a single reporting unit as they fall under the same operating segment and have similar economic characteristics. Previously, these components were tested separately for impairment when Company was operating as more than one operating segment. Goodwill is assessed for impairment annually on November 30 th When performing its goodwill impairment test, the Company considers a qualitative assessment, when appropriate, and a quantitative assessment using the market approach and its market capitalization when determining the fair value of the reporting units, in the aggregate.
Intangible Assets	Intangible Assets Indefinite-lived intangible assets are tested for impairment at least annually and are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Indefinite-lived intangible assets are impaired if their estimated fair values are less than their carrying values. Finite-lived intangible assets, if any, are amortized over their estimated useful life, which is the period over which the assets are expected to contribute directly or indirectly to the future cash flows of the Company. These intangible assets are tested for impairment at the time of a triggering event, if one were to occur. Finite-lived intangible assets may be impaired when the estimated undiscounted future cash flows generated from the assets are less than their carrying amounts. The Company may rely on a qualitative assessment when performing its intangible asset impairment test. Otherwise, the impairment evaluation is performed at the lowest level of reasonably identifiable cash flows independent of other assets. The annual impairment testing date for all of the Company’s intangible assets is November 30 th
Leases	Leases Effective January 1, 2019, the Company accounts for its lease obligations in accordance with Accounting Standards Codification (“ASC”) Topic 842, Leases right-of-use right-of-use ASC 842 also provides a practical expedient which allows for consideration in a contract to be accounted for as a single lease component rather than allocated between lease and non-lease Upon adoption of ASC 842 on January 1, 2019, the Company applied the transitional practical expedients to its outstanding leases and therefore the Company did not reassess (i) whether any expired or existing contracts are or contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. The Company also elected to apply the new lease requirements at the effective date, rather than the beginning of the earliest comparative period presented.
Deferred Consideration - Gold Payments	Deferred Consideration – Gold Payments Deferred consideration represents the present value of an obligation to pay gold to a third party into perpetuity and is measured using forward-looking gold prices and a selected discount rate (Note 11). Changes in the fair value of this obligation are reported as (loss)/gain on revaluation of deferred consideration – gold payments on the Company’s Consolidated Statements of Operations.
Convertible Notes and Debt	Convertible Notes and Debt Convertible notes and debt are carried at amortized cost, net of debt discounts and debt issuance costs. The convertible notes are required to be separated into their liability and equity components by allocating the issuance proceeds to each of these components. The liability component for convertible instruments that qualify for a derivative scope exception (applicable to the convertible notes) is allocated proceeds equal to the estimated fair value of similar debt instruments without the conversion option. The difference between the gross proceeds received from the issuance of the convertible notes and the proceeds allocated to the liability component represents the residual amount that is recorded in additional paid-in
Earnings per Share	Earnings per Share Basic earnings per share (“EPS”) is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Net income available to common stockholders represents net income of the Company reduced by an allocation of earnings to participating securities. The Series A non-voting non-forfeitable two-class Diluted EPS is calculated under the treasury stock method and the two-class non-voting non-voting if-converted
Income Taxes	Income Taxes The Company accounts for income taxes using the liability method, which requires the determination of deferred tax assets and liabilities based on the differences between the financial and tax bases of assets and liabilities using the enacted tax rates in effect for the year in which differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more-likely-than-not Tax positions are evaluated utilizing a two-step more-likely-than-not Non-income
Recently Issued Accounting Pronouncements	Recently Issued Accounting In August 2020, the Financial Accounting Standards Board (“FASB”) issued 2020-06, Debt – Debt with Conversion and Other Options 2020-06). earnings-per-share Early adoption is permitted for fiscal periods The adoption of this ASU will result in a reduction In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes 2019-12). interim period when a year-to-date loss exceeds the anticipated loss for the year. The standard also simplifies the accounting for income taxes by enacting the following: (a) requiring that an entity recognize a franchise tax (or similar tax) that is partially based on income as an income-based tax and account for any incremental amount as a non-income-based 2019-12 and has not early adopted this ASU
Recently Adopted Accounted Pronouncements	Recently Adopted Accounting Pronouncements On January 1, 2020, the Company adopted ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments 2016-13). off-balance off-balance held-to-maturity) 2016-13 held-to-maturity On January 1, 2020, the Company adopted ASU 2018-13, Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement 2018-13), 2018-13

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Related Assets	Depreciation is provided for using the straight-line method over the estimated useful lives of the related assets as follows: Equipment 5 years Furniture and fixtures 15 years

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Categorization of Assets and Liabilities Measured at Fair Value	The tables below summarize the categorization of the Company’s assets and liabilities measured at fair value. During the three and nine months ended September 30, 2020 and 2019 there were no transfers between Levels 2 and 3. September 30, 2020 Total Level 1 Level 2 Level 3 Assets: Recurring fair value measurements: Cash equivalents $ 2,577 $ 2,577 $ — $ — Securities owned, at fair value 32,574 24,101 8,473 — Total $ 35,151 $ 26,678 $ 8,473 $ — Liabilities: Recurring fair value measurements: Deferred consideration (Note 11) $ 207,748 $ — $ — $ 207,748 Non-recurring Convertible notes (1) $ 24,344 $ — $ 24,344 $ — (1) Fair value determined on August 13, 2020 (Note 13) December 31, 2019 Total Level 1 Level 2 Level 3 Assets: Recurring fair value measurements: Cash equivalents $ 317 $ 317 $ — $ — Securities owned, at fair value 17,319 17,319 — — Total $ 17,636 $ 17,636 $ — $ — Non-recurring AdvisorEngine Inc. – Financial interests (1) $ 28,172 — — $ 28,172 Liabilities: Recurring fair value measurements: Deferred consideration (Note 11) $ 173,024 $ — $ — $ 173,024 Securities sold, but not yet purchased 582 582 — — Total $ 173,606 $ 582 $ — $ 173,024 (1) Fair value determined on December 31, 2019 (Note 7).
Summary of Reconciliation of Recurring Fair Value Measurements	The following table presents a reconciliation of beginning and ending balances of recurring fair value measurements classified as Level 3: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Deferred consideration (Note 11) Beginning balance $ 198,784 $ 161,273 $ 173,024 $ 161,540 Net realized losses (1) 4,539 3,502 12,362 9,710 Net unrealized losses/(gains) (2) 8,870 6,306 34,436 5,939 Settlements (4,445 ) (3,441 ) (12,074 ) (9,549 ) Ending balance $ 207,748 $ 167,640 $ 207,748 $ 167,640 (1) Recorded as contractual gold payments expense on the Company’s Consolidated Statements of Operations. (2) Recorded as loss on revaluation of deferred consideration – gold payments on the Company’s Consolidated Statements of Operations.

Securities Owned_Sold, but No_2

Securities Owned/Sold, but Not Yet Purchased (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Securities Owned/Sold But Not Yet Purchased	These securities consist of the following: September 30, December 31, Securities Owned Trading securities $ 32,574 $ 17,319 Securities Sold, but not yet Purchased Trading securities $ — $ 582

Securities Held-to-Maturity (Ta

Securities Held-to-Maturity (Tables)	9 Months Ended
	Sep. 30, 2020
Text Block [Abstract]
Schedule of Securities Held-to-Maturity	The following table is a summary of the Company’s securities held-to-maturity: September 30, December 31, Debt instruments: Pass-through GSEs (amortized cost) $ 501 $ 16,863
Schedule of Unrealized Gains, Losses and Fair Value of Securities Held-to-Maturity	The following table summarizes unrealized gains, losses, and fair value (classified as Level 2 within the fair value hierarchy) of securities held-to-maturity: September 30, December 31, Cost/amortized cost $ 501 $ 16,863 Gross unrealized gains 37 38 Gross unrealized losses (17 ) (297 ) Fair value $ 521 $ 16,604
Schedule of Maturity Profile of Securities Held-to-Maturity	The following table sets forth the maturity profile of the securities held-to-maturity; September 30, December 31, Due within one year $ — $ — Due one year through five years — 2,000 Due five years through ten years — 7,494 Due over ten years 501 7,369 Total $ 501 $ 16,863

AdvisorEngine Inc. - Sale of _2

AdvisorEngine Inc. - Sale of Financial Interests (Tables)	9 Months Ended
	Sep. 30, 2020
Summary of Ranges and Weighted Averages of Significant Unobservable Inputs Used to Determine Fair Value of Contingent Payments	The table below presents the range and weighted averages of significant unobservable inputs utilized in the Monte-Carlo simulation (classified as Level 3 in the fair value hierarchy): Unobservable Inputs (Initial Recognition – May 4, 2020 Forecasted revenue simulated forward as a percentage of the pre-defined 34% - 71% (47% weighted average) Revenue volatility 25%
Summary of Carrying Value Information of AdvisorEngine Financial Interests	Summarized below are the financial interests previously held: September 30, 2020 December 31, 2019 Amortized Net Carrying Amortized Net Carrying Unsecured convertible note $ — $ — $ 2,126 $ 2,126 Unsecured non-convertible — — 31,184 26,046 Subtotal—Notes receivable — — 33,310 28,172 Preferred stock — — 25,000 — Total $ — $ — (1) $ 58,310 $ 28,172 (1) (1) Net of an impairment of $30,138 at December 31, 2019. During the nine months ended September 30, 2020, the Company recorded an impairment of $19,672 on the carrying value of the notes receivable. During the three and nine months ended September 30, 2020, the Company recognized a gain of $225 and $1,093, respectively, arising from an adjustment to the estimated fair value of consideration received from the sale of its

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Investment [Line Items]
Investments	The following table sets forth the Company’s investments: September 30, December 31, Securrency – Preferred stock $ 8,112 $ 8,112 Thesys Group, Inc. (“Thesys”) — 3,080 Total $ 8,112 $ 11,192

Fixed Assets, net (Tables)

Fixed Assets, net (Tables)	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of Fixed Assets	The following table summarizes fixed assets: September 30, December 31, Equipment $ 2,576 $ 2,330 Furniture and fixtures 2,225 2,218 Leasehold improvements 10,976 10,989 Less: accumulated depreciation and amortization (8,123 ) (7,410 ) Total $ 7,654 $ 8,127

Deferred Consideration (Tables)

Deferred Consideration (Tables)	9 Months Ended
	Sep. 30, 2020
Text Block [Abstract]
Summary of valuation of deferred consideration	The Company determined the present value of the deferred consideration of $207,748 and $173,024 at September 30, 2020 and December 31, 2019 using the following assumptions: September 30, December 31, Forward-looking gold price (low) – per ounce $ 1,889 $ 1,535 Forward-looking gold price (high) – per ounce $ 2,678 $ 2,328 Forward-looking gold price (weighted average) – per ounce $ 2,104 $ 1,757 Discount rate 10.0 % 10.0 % Perpetual growth rate 0.9 % 1.5 %
Schedule of Deferred Consideration	During the three and nine months ended September 30, 2020 and 2019, the Company recognized the following in respect of deferred consideration: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Contractual gold payments $ 4,539 $ 3,502 $ 12,362 $ 9,710 Contractual gold payments – gold ounces paid 2,375 2,375 7,125 7,125 Loss on revaluation of deferred consideration – gold payments (1) $ (8,870 ) $ (6,306 ) $ (34,436 ) $ (5,939 ) (1) Losses arise due to increases in the forward-looking price of gold

Credit Facility (Tables)

Credit Facility (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of Outstanding Borrowings under Credit Facility	The following table provides a summary of the Company’s outstanding borrowings under its credit facility: September 30, 2020 December 31, 2019 Term Loan Revolver Term Loan Revolver Amount borrowed $ 179,000 $ — $ 200,000 $ — Amounts repaid (179,000 ) (1) — (21,000 ) — Amounts outstanding — — 179,000 — Unamortized issuance costs — — (3,044 ) 671 Carrying amount $ — $ — $ 175,956 $ 671 Effective interest rate 4.15 % n 5.32 % n (1) Includes $5,000 and $174,000 repaid on March 31, 2020 and June 16, 2020, respectively.

Convertible Notes (Table)

Convertible Notes (Table)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of the carrying value of the convertible notes	The following table provides a summary of the carrying value of the Convertible Notes at September 30, 2020: Total Additional Notes Existing Notes Principal amount $ 175,000 $ 25,000 $ 150,000 Plus: premium 250 250 — Gross proceeds 175,250 25,250 150,000 Less: Unamortized debt discount and issuance costs (1) (9,431 ) (1,613 ) (7,818 ) Carrying amount $ 165,819 $ 23,637 $ 142,182 Effective interest rate (2) 6.29 % 6.37 % 6.28 % (1) The debt discount arose from the bifurcation of the conversion option. The unamortized debt discount and issuance costs is reported net of the unamortized premium on the Additional Notes. (2) Includes amortization of the discount arising from the bifurcation of the conversion option, amortization of the issuance costs allocated to the Convertible Notes and amortization of the premium associated with the Additional Notes.

Preferred Shares (Tables)

Preferred Shares (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Summary of Preferred Share Balance	The following is a summary of the Preferred Share balance: September 30, 2020 December 31, Issuance of Preferred Shares $ 132,750 $ 132,750 Less: Issuance costs (181 ) (181 ) Preferred Shares – carrying value $ 132,569 $ 132,569

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Lessee Disclosure [Abstract]
Schedule for Summary of Additional Information Related to Operating Lease	The following table provides additional information regarding the Company’s leases: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Lease cost: Operating lease cost $ 796 $ 789 $ 2,384 $ 2,379 Short-term lease cost 299 322 941 1,094 Total lease cost $ 1,095 $ 1,111 $ 3,325 $ 3,473 Other information: Cash paid for amounts included in the measurement of operating liabilities (operating leases) $ 933 $ 902 $ 2,778 $ 2,662 Right-of-use n/a n/a n/a n/a Weighted-average remaining lease term (in years) – operating leases 8.9 9.6 8.9 9.6 Weighted-average discount rate – operating leases 6.3 % 6.3 % 6.3 % 6.3 %
Schedule of Future Minimum Lease Payments	The following table discloses future minimum lease payments at September 30, 2020 with respect to the Company’s operating lease liabilities: Remainder of 2020 $ 907 2021 2,958 2022 2,958 2023 2,958 2024 3,037 2025 and thereafter 14,604 Total future minimum lease payments (undiscounted) $ 27,422
Schedule for Supplemental Balance Sheet Information Related to Operating Lease	The following table reconciles the future minimum lease payments (disclosed above) at September 30, 2020 to the operating lease liabilities recognized in the Company’s Consolidated Balance Sheet: Amounts recognized in the Company’s Consolidated Balance Sheet Lease liability – short term $ 3,124 Lease liability – long term 17,849 Subtotal 20,973 Difference between undiscounted and discounted cash flows 6,449 Total future minimum lease payments (undiscounted) $ 27,422

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2020
Summary of Information about Variable Interests	The following table presents information about the Company’s variable interests in non-consolidated September 30, 2020 December 31, 2019 Carrying Amount – Assets (Securrency) Preferred stock (Note 9) $ 8,112 $ 8,112 Carrying Amount – Assets (AdvisorEngine) Unsecured convertible notes receivable $ — $ 2,126 Unsecured non-convertible — 26,046 Preferred stock — — Total carrying amount (Note 7) $ — $ 28,172 Total carrying amount – Assets $ 8,112 $ 36,284 Maximum exposure to loss $ 8,112 $ 36,284

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Summary of Revenues from Contracts with Customers	The following table presents the Company’s total revenues from contracts with customers: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Revenues from contracts with customers: Advisory fees $ 63,919 $ 67,006 $ 184,077 $ 197,473 Other 721 712 2,563 2,023 Total operating revenues $ 64,640 $ 67,718 $ 186,640 $ 199,496
Summary of Geographic Distribution of Revenue	The following table presents the Company’s total revenues geographically as determined by where the respective management companies reside: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Revenues from contracts with customers: United States $ 34,018 $ 42,030 $ 105,517 $ 127,799 Jersey 29,527 23,896 77,693 66,425 Ireland 1,095 1,164 3,065 3,491 Canada (Note 25) — 628 365 1,781 Total operating revenues $ 64,640 $ 67,718 $ 186,640 $ 199,496

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Summary of Accounts Receivable from Related Parties	The following table summarizes accounts receivable from related parties which are included as a component of accounts receivable on the Company’s Consolidated Balance Sheets: September 30, December 31, Receivable from WTT $ 11,191 $ 14,765 Receivable from ManJer Issuers 10,678 9,036 Receivable from WMAI and WTI 1,497 1,559 Receivable from WTAMC (Note 25) — 227 Receivable from WTCS 54 80 Total $ 23,420 $ 25,667
Summary of Revenues from Advisory Services Provided to Related Parties	The following table summarizes revenues from advisory services provided to related parties: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Advisory services provided to WTT $ 33,767 $ 41,721 $ 104,757 $ 126,761 Advisory services provided to ManJer Issuers 27,397 21,758 71,325 60,398 Advisory services provided to WMAI and WTI 2,603 2,670 7,145 7,757 Advisory services provided to WTAMC (Note 25) — 628 365 1,781 Advisory services provided to WTCS 152 229 485 776 Total $ 63,919 $ 67,006 $ 184,077 $ 197,473

Stock-Based Awards (Tables)

Stock-Based Awards (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Unrecognized Stock-Based Compensation Expense and Average Remaining Vesting Period	A summary of unrecognized stock-based compensation expense and average remaining vesting period is as follows: September 30, 2020 Unrecognized Stock- Average Employees and directors $ 12,669 1.49
Summary of Stock-Based Compensation Activity	A summary of stock-based compensation award activity during the three months ended September 30, 2020 Stock RSAs RSUs PRSUs Balance at July 1, 2020 315,000 3,696,879 43,056 349,623 Granted — 80,862 — — Exercised/vested — (53,955 ) — — Forfeitures — (28,863 ) — (8,311 ) Balance at September 30, 2020 315,000 3,694,923 43,056 341,312

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Earnings Per Share	The following tables set forth reconciliations of the basic and diluted earnings per share computations for the periods presented: Three Months Nine Months Ended Basic (Loss)/Earnings per Share 2020 2019 2020 2019 Net (loss)/income $ (270 ) $ 4,152 $ (22,158 ) $ 15,455 Less: Income distributed to participating securities (556 ) (539 ) (1,663 ) (1,622 ) Less: Undistributed income allocable to participating securities — — — (18 ) Net (loss)/income available to common stockholders – Basic EPS $ (826 ) $ 3,613 $ (23,821 ) $ 13,815 Weighted average common shares (in thousands) 145,564 151,897 149,886 151,782 Basic (loss)/earnings per share $ (0.01 ) $ 0.02 $ (0.16 ) $ 0.09 Three Months Ended Nine Months Ended Diluted (Loss)/Earnings per Share 2020 2019 2020 2019 Net (loss)/income available to common stockholders $ (826 ) $ 3,613 $ (23,821 ) $ 13,815 Add back: Undistributed income allocable to participating securities — — — 18 Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive — — — (18 ) Net (loss)/income available to common stockholders – Diluted EPS $ (826 ) $ 3,613 $ (23,821 ) $ 13,815 Weighted Average Diluted Shares (in thousands) Weighted average common shares 145,564 151,897 149,886 151,782 Dilutive effect of common stock equivalents, excluding participating securities — 135 — 172 Weighted average diluted shares, excluding participating securities (in thousands) 145,564 152,032 149,886 151,954 Diluted (loss)/earnings per share $ (0.01 ) $ 0.02 $ (0.16 ) $ 0.09
Schedule of Weighted Average Number of Shares	The following table reconciles weighted average diluted shares as reported on the Company’s consolidated statements of operations for the three and nine months ended September 30, 2020 and 2019 to the weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above: Three Months Ended Nine Months Ended Reconciliation of Weighted Average Diluted Shares (in thousands) 2020 2019 2020 2019 Weighted average diluted shares as disclosed on the consolidated statements of operations 145,564 (1) 167,163 149,886 (1) 166,944 Less: Participating securities Weighted average shares of common stock issuable upon conversion of the Preferred Shares (Note 14) — (14,750 ) — (14,750 ) Potentially dilutive restricted stock awards — (381 ) — (240 ) Weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above 145,564 152,032 149,886 151,954 (1) Excludes 15,307,153 and 14,997,269 participating securities and 4,669 and 5,437 potentially dilutive non-participating

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Summary of Deferred Tax Asset Recorded	A summary of the components of the Company’s deferred tax assets at September 30, 2020 and December 31, 2019 are as follows: September 30, 2020 December 31, 2019 Deferred tax assets: Capital losses $ 16,734 $ 8,226 Operating lease liabilities 5,096 5,529 Interest carryforwards 2,582 2,615 NOLs – International 2,069 6,721 Accrued expenses 1,992 4,054 Stock-based compensation 1,793 1,754 Goodwill and intangible assets 1,526 1,671 NOLs – U.S. 514 642 Outside basis differences 123 123 Other 110 218 Deferred tax assets 32,539 31,553 Deferred tax liabilities: Right of use assets – operating leases 4,038 4,400 Fixed assets and prepaid assets 1,328 1,326 Allocated equity component of convertible note 1,132 — Unrealized gains — 744 Deferred tax liabilities 6,498 6,470 Total deferred tax assets less deferred tax liabilities 26,041 25,083 Less: valuation allowance (18,926 ) (17,685 ) Deferred tax assets, net $ 7,115 $ 7,398
Schedule of Changes in Balance of Gross Unrecognized Tax Benefits	The table below sets forth the aggregate changes in the balance of these gross unrecognized tax benefits during the three and nine months ended September 30, 2020: Total Unrecognized Interest and Balance on January 1, 2020 $ 32,101 $ 25,998 $ 6,103 Decrease—Lapse (1) (5,981 ) (4,620 ) (1,361 ) Increases 76 — 76 Foreign currency translation (2) (1,767 ) (1,432 ) (335 ) Balance at March 31, 2020 $ 24,429 $ 19,946 $ 4,483 Increases 76 — 76 Foreign currency translation (2) (141 ) (115 ) (26 ) Balance at June 30, 2020 $ 24,364 $ 19,831 $ 4,533 Increases 81 — 81 Foreign currency translation (2) 1,057 860 197 Balance at September 30, 2020 $ 25,502 $ 20,691 $ 4,811 (1) Recorded as an income tax benefit of $5,981 during the nine months ended September 30, 2020, along with an equal and offsetting amount recorded in other gains and losses, net, to recognize a reduction in the indemnification asset. During the nine months ended September (2) The gross unrecognized tax benefits were accrued in British pounds.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill	The table below sets forth goodwill which is tested annually for impairment on November 30 th Total Balance at January 1, 2020 $ 85,856 Changes — Balance at September 30, 2020 $ 85,856
Summary of Indefinite-lived Intangible Assets	The table below sets forth the Company’s intangible assets which are tested annually for impairment on November 30 th Advisory (ETFS) Advisory Total Balance at January 1, 2020 $ 601,247 $ 2,047 $ 603,294 Decreases (1) — (1,992 ) (1,992 ) Foreign currency translation — (55 ) (55 ) Balance at September 30, 2020 $ 601,247 $ — $ 601,247 (1) Derecognized upon the sale of the Company’s Canadian ETF business (Note 25).

Exit Activities (Tables)

Exit Activities (Tables)	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Operating Losses	The following table summarizes operating losses recognized by the Company’s wholly-owned subsidiaries that have either been sold or liquidated during reporting periods covered by its consolidated financial statements: Three Months Ended Nine Months Ended 2020 2019 2020 2019 WTAMC $ — $ 502 $ 428 $ 1,886 WisdomTree Japan Inc. (“WTJ”) (1) — 85 — 550 Total $ — $ 587 $ 428 $ 2,436 (1) WTJ also recognized an impairment expense of $572 in connection with the termination of its office lease on March 31, 2019.

Impairments (Tables)

Impairments (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure Text Block Supplement [Abstract]
Details of Impairment of Long-Lived Assets Held and Used by Asset	The following table summarizes impairments recognized by the Company: Three Months Ended Nine Months Ended 2020 2019 2020 2019 AdvisorEngine – Financial Interests (Note 7) $ — $ — $ 19,672 $ — Thesys – Series Y Preferred (Note 9) 3,080 — 3,080 — WTJ (Note 25) — — — 572 Total $ 3,080 $ — $ 22,752 $ 572

Significant Accounting Polici_4

Significant Accounting Policies - Schedule of Estimated Useful Lives of Related Assets (Detail)	9 Months Ended
	Sep. 30, 2020
Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years

Significant Accounting Polici_5

Significant Accounting Policies - Additional Information (Detail) $ in Thousands	Sep. 30, 2020USD ($)	Sep. 30, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash and cash equivalents maturity period, maximum		90 days
Short-term lease exception - Lease term	12 months	12 months
Accounting Standards Update 470-20 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reduction of interest expense per quarter	$ 420

Cash and Cash Equivalents - Add

Cash and Cash Equivalents - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Cash equivalents	$ 2,577	$ 317
Total cash and cash equivalents	63,561	74,972
US Office [Member]
Operating lease, standby letter of credit	1,384	1,384
Two Financial Institutions [Member]
Cash and cash equivalents	59,038	72,120
International Business Segment [Member]
Minimum level of regulatory net capital	$ 10,644	$ 12,312

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liquid investments, original maturities	90 days

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Categorization of Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets:
Securities owned, at fair value	$ 32,574	$ 17,319
Liabilities:
Deferred consideration (Note 11)	207,748	173,024
Fair Value, Measurements, Recurring [Member]
Assets:
Cash equivalents	2,577	317
Securities owned, at fair value	32,574	17,319
Total	35,151	17,636
Liabilities:
Deferred consideration (Note 11)	207,748	173,024
Securities sold, but not yet purchased		582
Total		173,606
Fair Value, Measurements, Nonrecurring [Member]
Assets:
AdvisorEngine Inc. – Financial interests		28,172
Liabilities:
Convertible notes	24,344
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets:
Cash equivalents	2,577	317
Securities owned, at fair value	24,101	17,319
Total	26,678	17,636
Liabilities:
Securities sold, but not yet purchased		582
Total		582
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets:
Securities owned, at fair value	8,473
Total	8,473
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Liabilities:
Convertible notes	24,344
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Liabilities:
Deferred consideration (Note 11)	$ 207,748	173,024
Total		173,024
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Assets:
AdvisorEngine Inc. – Financial interests		$ 28,172

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Reconciliation of Recurring Fair Value Measurements (Detail) - Deferred Consideration Obligation [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 198,784	$ 161,273	$ 173,024	$ 161,540
Net realized losses	4,539	3,502	12,362	9,710
Net unrealized losses/(gains)	8,870	6,306	34,436	5,939
Settlements	(4,445)	(3,441)	(12,074)	(9,549)
Ending balance	$ 207,748	$ 167,640	$ 207,748	$ 167,640

Securities Owned_Sold but Not Y

Securities Owned/Sold but Not Yet Purchased - Schedule of Securities Owned/Sold But Not Yet Purchased (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned Total	$ 32,574	$ 17,319
Securities Sold, but not yet Purchased Total		582
Trading Securities [Member]
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned Total	$ 32,574	17,319
Securities Sold, but not yet Purchased Total		$ 582

Securities Held-to-Maturity - S

Securities Held-to-Maturity - Schedule of Securities Held-to-Maturity (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Federal agency debt instruments (amortized cost)	$ 501	$ 16,863
Federal Agency [Member]
Schedule of Held-to-maturity Securities [Line Items]
Federal agency debt instruments (amortized cost)	$ 501	$ 16,863

Securities Held-to-Maturity -_2

Securities Held-to-Maturity - Schedule of Unrealized Gains, Losses and Fair Value of Securities Held-to-Maturity (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Held-to-maturity cost or amortized cost	$ 501	$ 16,863
Held-to-maturity gross unrealized gains	37	38
Held-to-maturity gross unrealized losses	(17)	(297)
Held-to-maturity fair value	$ 521	$ 16,604

Securities Held-to-Maturity - A

Securities Held-to-Maturity - Additional Information (Detail) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019Securities
Investments, Debt and Equity Securities [Abstract]
Number of securities determined to be other than temporarily impaired | Securities			0
Proceeds from Sale and Maturity of Held-to-maturity Securities | $	$ 16,441	$ 2,313

Securities Held-to-Maturity -_3

Securities Held-to-Maturity - Schedule of Maturity Profile of Securities Held-to-Maturity (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Held-to-maturity due one year through five years		$ 2,000
Held-to-maturity due five years through ten years		7,494
Held-to-maturity due over ten years	$ 501	7,369
Held-to-maturity cost or amortized cost	$ 501	$ 16,863

AdvisorEngine - Financial Inter

AdvisorEngine - Financial Interests - Summary of Ranges and Weighted Averages of Significant Unobservable Inputs Used to Determine Enterprise Value (Details)	Sep. 30, 2020
Measurement Input Forecasted Revenue as a Percentage of the Pre-Defined Revenue Targets [Member] | Maximum [Member]
Forecasted revenue as a percentage of pre-defined revenue target to measure contingent payments	0.71
Measurement Input Forecasted Revenue as a Percentage of the Pre-Defined Revenue Targets [Member] | Minimum [Member]
Forecasted revenue as a percentage of pre-defined revenue target to measure contingent payments	0.34
Measurement Input Forecasted Revenue as a Percentage of the Pre-Defined Revenue Targets [Member] | Weighted Average [Member]
Forecasted revenue as a percentage of pre-defined revenue target to measure contingent payments	0.47
Measurement Input Revenue Volatility [Member]
Revenue Volatility used to measure contingent payment	0.25

AdvisorEngine - Financial Int_2

AdvisorEngine - Financial Interests carrying value of the Company's financial interests (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Total net carrying value		$ 28,172
Advisor Engine [Member]
Unsecured convertible note, Amortized Cost plus Accrued Interest		2,126
Unsecured non-convertible note, Amortized Cost, plus Accrued Interest		31,184
Subtotal - notes receivable: Amortized Cost, plus Accured Interest		33,310
Preferred stock, Amortized Cost, plus Accrued Interest		25,000
Total amortized cost, plus accrued interest		58,310
Unsecured convertible note, Net Carrying Value		2,126
Unsecured non-convertible note, Net Carrying Value		26,046
Subtotal - Notes receivable:, Net Carrying Value		28,172
Preferred stock, Net Carrying Value
Total net carrying value		$ 28,172

AdvisorEngine - Financial Int_3

AdvisorEngine - Financial Interests carrying value of the Company's financial interests (Parenthetical) (Detail) - Advisor Engine [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity Nonconsolidated Carrying Amount Assets Impairment		$ 19,672
Variable interest entity, net of an impairment			$ 30,138
Gain on Sale of Investments	$ 225	$ 1,093

AdvisorEngine - Financial Int_4

AdvisorEngine - Financial Interests - Additional Information (Detail) - Advisor Engine [Member] $ in Thousands	Sep. 30, 2020USD ($)
Maximum Amount of Contingent Payments That May be Received	$ 10,408
Upfront consideration paid to the Company	$ 9,592

Notes Receivables - Additional

Notes Receivables - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income recognized				$ 1,856
Notes Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income recognized	$ 0	$ 633	$ 0	$ 1,856
Notes Receivable on Nonaccrual Status			Effective January 1, 2020, notes receivable were placed on non-accrual status.

Investments - Details of Invest

Investments - Details of Investments Carried at Cost (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Dec. 27, 2019
Investment [Line Items]
Investments	$ 8,112	$ 11,192
Thesys Group, Inc [Member]
Investment [Line Items]
Investments	0	3,080
Securrency Inc [Member] | Convertible Preferred Stock [Member]
Investment [Line Items]
Investments	$ 8,112	$ 8,112	$ 8,112

Investment - Additional Informa

Investment - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 27, 2019	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Jun. 20, 2017
Investment [Line Items]
Carrying value of investments		$ 8,112		$ 8,112	$ 11,192
Series Y Preferred Stock [Member]
Investment [Line Items]
Impairment on Thesys preferred stock		3,080		3,080
Thesys Group, Inc [Member]
Investment [Line Items]
Carrying value of investments		0		0	3,080
Thesys Group, Inc [Member] | Convertible Preferred Stock [Member] | Series Y Preferred Stock [Member]
Investment [Line Items]
Number of shares issued						7,797,533
Current fully diluted ownership percentage						19.00%
Securrency Inc [Member]
Investment [Line Items]
Ownership interest percentage			25.00%
Original fully diluted ownership interest percentage			20.00%
Percentage of voting approval required to redeem all of the outstanding Series A preferred			60.00%
Securrency Inc [Member] | Convertible Preferred Stock [Member]
Investment [Line Items]
Carrying value of investments	$ 8,112	$ 8,112		$ 8,112	$ 8,112
Number of shares purchased	5,178,488
Non-cumulative dividend	6.00%

Fixed Assets, net - Schedule of

Fixed Assets, net - Schedule of Fixed Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization	$ (8,123)	$ (7,410)
Total	7,654	8,127
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	2,576	2,330
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	2,225	2,218
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	$ 10,976	$ 10,989

Deferred Consideration - Additi

Deferred Consideration - Additional Information (Detail) $ in Thousands	Sep. 30, 2020USD ($)oz	Dec. 31, 2019USD ($)oz
Business Acquisition [Line Items]
Deferred consideration	$ 207,748	$ 173,024
Deferred consideration, current	17,202	13,953
Deferred consideration, non-current	$ 190,546	$ 159,071
April 1, 2018 through March 31, 2058 [Member]
Business Acquisition [Line Items]
Fixed payment ounces of gold | oz	9,500	9,500
April 1, 2058 and Thereafter [Member]
Business Acquisition [Line Items]
Fixed payment ounces of gold | oz	6,333	6,333

Deferred Consideration - Summar

Deferred Consideration - Summary of valuation of deferred consideration (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Disclosure Of Valuation Of Deferred Consideration [Line Item]
Discount rate	10.00%	10.00%
Perpetual growth rate	0.90%	1.50%
Minimum [Member]
Disclosure Of Valuation Of Deferred Consideration [Line Item]
Forward-looking gold price	$ 1,889	$ 1,535
Maximum [Member]
Disclosure Of Valuation Of Deferred Consideration [Line Item]
Forward-looking gold price	2,678	2,328
Weighted Average [Member]
Disclosure Of Valuation Of Deferred Consideration [Line Item]
Forward-looking gold price	$ 2,104	$ 1,757

Deferred Consideration - Schedu

Deferred Consideration - Schedule of Deferred Consideration (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Contractual gold payments	$ 4,539	$ 3,502	$ 12,362	$ 9,710
Contractual gold payments – gold ounces paid	2,375	2,375	7,125	7,125
Loss on revaluation of deferred consideration – gold payments	$ (8,870)	$ (6,306)	$ (34,436)	$ (5,939)

Credit Facility - Additional In

Credit Facility - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 16, 2020	Mar. 31, 2020
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 2,387
Term Loan and Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amount repaid				$ 174,000	$ 5,000
Loss on extinguishment of debt		2,387
Interest expense	$ 2,832	$ 4,086	$ 8,634

Credit Facility - Summary of Ou

Credit Facility - Summary of Outstanding Borrowings under Credit Facility (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Term Loan Facility [Member]
Debt Instrument [Line Items]
Amount borrowed	$ 179,000	$ 200,000
Amounts repaid	$ (179,000)	(21,000)
Amounts outstanding		179,000
Unamortized issuance costs		(3,044)
Carrying amount		$ 175,956
Effective interest rate	4.15%	5.32%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unamortized issuance costs		$ 671
Carrying amount		$ 671
Effective interest rate	0.00%	0.00%

Credit Facility - Summary of _2

Credit Facility - Summary of Outstanding Borrowings under Credit Facility (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 16, 2020	Mar. 31, 2020
Term Loan and Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amount repaid	$ 174,000	$ 5,000

Convertible Notes - Additional

Convertible Notes - Additional Information (Detail)	Aug. 13, 2020USD ($)shares$ / shares	Jun. 16, 2020USD ($)shares$ / shares	May 20, 2023	Jun. 30, 2020USD ($)	Sep. 30, 2020USD ($)$ / shares	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)	May 21, 2023Day
Convertible Senior Notes [Line Items]
Payments for stock repurchase						$ 30,979,000	$ 2,187,000
Debt instrument convertible threshold percentage of stock price trigger			130.00%
Interest expense					$ 2,511,000	2,888,000
Conversion Rate Increase [Member]
Convertible Senior Notes [Line Items]
Principal amount of the convertible notes				$ 1,000
Accounts Payable and Accrued Liabilities [Member]
Convertible Senior Notes [Line Items]
Interest payable					2,173,000	2,173,000
Convertible Senior Notes Due Two Thousand And Twenty Three [Member]
Convertible Senior Notes [Line Items]
Convertible senior notes face value					$ 175,000,000	175,000,000
Convertible debt equity component						5,059,000
Issuance costs allocated to equity component of convertible debt						$ 157,000
Convertible Senior Notes Due Two Thousand And Twenty Three [Member] | Fair Value, Inputs, Level 2 [Member]
Convertible Senior Notes [Line Items]
Fair value of debt component at issuance date	$ 170,191,000	$ 170,191,000
Convertible notes discount rate					5.33	5.33
Fair value of debt component of convertible senior notes					$ 167,153,000	$ 167,153,000
Convertible Senior Notes Due Two Thousand And Twenty Three [Member] | Private Placement [Member]
Convertible Senior Notes [Line Items]
Convertible senior notes face value	$ 25,000,000	$ 150,000,000
Convertible senior notes stated rate of interest	4.25%	4.25%
Covertible senior notes year of maturity	2023	2023
Payments for stock repurchase						$ 28,297,000
Repurchased common stock, shares | shares						7,487,335
Repurchase price per share | $ / shares					$ 3.78	$ 3.78
Convertible senior notes maturity date					Jun. 15, 2023	Jun. 15, 2023
Redemption provisions - Convertible notes redemption price as a percentage of principal amount accrued interest and unpaid interest	100.00%	100.00%
Debt instrument percentage of principal amount due to lenders entitled to declare repurchase	25.00%	25.00%
Convertible Senior Notes Due Two Thousand And Twenty Three [Member] | Private Placement [Member] | Conversion Price [Member]
Convertible Senior Notes [Line Items]
Convertible debt instrument conversion price | $ / shares	$ 5.92	$ 5.92
Convertible debt instrument terms of conversion	Convertible at an initial conversion rate of 168.9189 shares of the Company’s common stock, per $1,000 principal amount of notes	Convertible at an initial conversion rate of 168.9189 shares of the Company’s common stock, per $1,000 principal amount of notes
Convertible Senior Notes Due Two Thousand And Twenty Three [Member] | Private Placement [Member] | Redemption Provisions [Member]
Convertible Senior Notes [Line Items]
Redemption provisions - Convertible notes	Redemption price of $7.70: The Company may redeem for cash all or any portion of the notes, at its option, on or after June 20, 2021 and on or prior to the 55th scheduled trading day immediately preceding the maturity date, if the last reported sale price of the Company's common stock has been at least 130% of the conversion price then in effect for at least 20 trading days, including the trading day immediately preceding the date on which the Company provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding the redemption date. No sinking fund is provided for the Convertible Notes.	Redemption price of $7.70: The Company may redeem for cash all or any portion of the notes, at its option, on or after June 20, 2021 and on or prior to the 55th scheduled trading day immediately preceding the maturity date, if the last reported sale price of the Company's common stock has been at least 130% of the conversion price then in effect for at least 20 trading days, including the trading day immediately preceding the date on which the Company provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding the redemption date. No sinking fund is provided for the Convertible Notes.
Convertible Senior Notes Due Two Thousand And Twenty Three [Member] | Private Placement [Member] | Conversion Rate Increase [Member]
Convertible Senior Notes [Line Items]
Maximum Conversion Rate	270.2702	270.2702
Maximum number of shares issuable upon conversion | shares	47,297,285	47,297,285
Convertible Senior Notes Due Two Thousand And Twenty Three [Member] | Private Placement [Member] | Scenario, Forecast [Member]
Convertible Senior Notes [Line Items]
Redemption provisions - Convertible notes, threshold trading days | Day								20
Redemption provisions - Convertible notes, threshold consecutive trading days | Day								30
US National Bank Association [Member] | Convertible Senior Notes Due Two Thousand And Twenty Three [Member] | Private Placement [Member] | Redemption Provisions [Member]
Convertible Senior Notes [Line Items]
Redemption provisions - Convertible notes redemption price as a percentage of principal amount accrued interest and unpaid interest		100.00%

Convertible Notes - Summary of

Convertible Notes - Summary of the carrying value of the convertible notes (Detail) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Carrying amount			$ 175,956
Convertible Senior Notes Due Two Thousand And Twenty Three [Member]
Debt Instrument [Line Items]
Principal amount		$ 175,000
Plus: premium on Additional Notes		250
Carrying amount		175,250
Less: Unamortized debt discount and issuance costs	[1]	(9,431)
Carrying amount		$ 165,819
Effective interest rate	[2]	6.29%
Convertible Senior Notes Due Two Thousand And Twenty Three [Member] | Additional Notes [Member]
Debt Instrument [Line Items]
Principal amount		$ 25,000
Plus: premium on Additional Notes		250
Carrying amount		25,250
Less: Unamortized debt discount and issuance costs	[1]	(1,613)
Carrying amount		$ 23,637
Effective interest rate	[2]	6.37%
Convertible Senior Notes Due Two Thousand And Twenty Three [Member] | Existing Notes [Member]
Debt Instrument [Line Items]
Principal amount		$ 150,000
Carrying amount		150,000
Less: Unamortized debt discount and issuance costs	[1]	(7,818)
Carrying amount		$ 142,182
Effective interest rate	[2]	6.28%
[1]	The debt discount arose from the bifurcation of the conversion option. The unamortized debt discount and issuance costs is reported net of the unamortized premium on the Additional Notes.
[2]	Includes amortization of the discount arising from the bifurcation of the conversion option, amortization of the issuance costs allocated to the Convertible Notes and amortization of the premium associated with the Additional Notes.

Preferred Shares - Additional I

Preferred Shares - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Apr. 11, 2018	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Fair value of preferred stock consideration	$ 132,750
Acquisition price per share	$ 9
Redeemable preference shares		$ 50,690	$ 71,630
Preferred Stock [Member]
Class of Stock [Line Items]
Other redemption rights unrelated to stockholder approval		Temporary equity classification is required for redeemable instruments for which redemption triggers are outside of the issuer’s control. ETFS Capital has the right to redeem all the Preferred Shares specified to be converted during the period of time specified in the Certificate of Designations in the event that: (a) the number of shares of the Company’s common stock authorized by its certificate of incorporation is insufficient to permit the Company to convert all of the Preferred Shares requested by ETFS Capital to be converted; or (b) ETFS Capital does not, upon completion of a change of control of the Company, receive the same amount per Preferred Share as it would have received had each outstanding Preferred Share been converted into common stock immediately prior to the change of control. However, the Company will not be obligated to make any such redemption payments to the extent such payments would be a breach of any covenant or obligation the Company owes to any of its secured creditors or is otherwise prohibited by applicable law.
Acquisition of ETFS Business [Member] | Preferred Stock [Member]
Class of Stock [Line Items]
Shares issued in business acquisition	14,750
Acquisition of ETFS Business [Member] | Common Stock [Member]
Class of Stock [Line Items]
Common stock equivalents	14,750,000

Preferred Shares - Summary of P

Preferred Shares - Summary of Preferred Share Balance (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Preferred Units [Line Items]
Preferred Shares – carrying value	$ 132,569	$ 132,569
Series A Preferred Stock [Member]
Preferred Units [Line Items]
Issuance of Preferred Shares	132,750	132,750
Less: Issuance costs	(181)	(181)
Preferred Shares – carrying value	$ 132,569	$ 132,569

Leases - Summary of additional

Leases - Summary of additional information regarding Company's Leases (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Lease cost:
Operating lease cost	$ 796	$ 789	$ 2,384	$ 2,379
Short-term lease cost	299	322	941	1,094
Total lease cost	1,095	1,111	3,325	3,473
Other information:
Cash paid for amounts included in the measurement of operating liabilities (operating leases)	$ 933	$ 902	$ 2,778	$ 2,662
Weighted-average remaining lease term (in years) – operating leases	8 years 10 months 24 days	9 years 7 months 6 days	8 years 10 months 24 days	9 years 7 months 6 days
Weighted-average discount rate – operating leases	6.30%	6.30%	6.30%	6.30%

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	Aug. 21, 2024	Aug. 21, 2023
Operating lease notice to landlord before cancellation		12 months
Scenario, Forecast [Member]
Operating lease cancellation cost	$ 4,236

Leases - Summary of future mini

Leases - Summary of future minimum lease payments (Detail) $ in Thousands	Sep. 30, 2020USD ($)
Lessee Disclosure [Abstract]
Remainder of 2020	$ 907
2021	2,958
2022	2,958
2023	2,958
2024	3,037
2025 and thereafter	14,604
Total future minimum lease payments (undiscounted)	$ 27,422

Leases - Summary of Reconciles

Leases - Summary of Reconciles future minimum lease payments (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Amounts recognized in the Company's Consolidated Balance Sheet
Lease liability – short term	$ 3,124	$ 3,682
Lease liability – long term	17,849	$ 19,057
Subtotal	20,973
Difference between undiscounted and discounted cash flows	6,449
Total future minimum lease payments (undiscounted)	$ 27,422

Variable Interest Entities - Su

Variable Interest Entities - Summary of Information about Variable Interests (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Carrying Amount - Assets
Total net carrying value		$ 28,172,000
Total net carrying value	$ 880,971,000	935,207,000
Maximum exposure to loss	8,112,000	36,284,000
Advisor Engine [Member]
Carrying Amount - Assets
Unsecured convertible notes receivable		2,126,000
Unsecured non-convertible note receivable		26,046,000
Preferred stock
Total net carrying value		28,172,000
Securrency Inc [Member]
Carrying Amount - Assets
Preferred stock	8,112,000	8,112,000
Variable Interest Entity, Not Primary Beneficiary [Member]
Carrying Amount - Assets
Total net carrying value	$ 8,112,000	$ 36,284,000

Revenues from Contracts with _3

Revenues from Contracts with Customers - Additional Information (Detail) - Advisory Fees [Member]	Sep. 30, 2020USD ($)
Revenue from Contracts with Customers [Line Items]
Contract assets	$ 0
Contract liabilities	0
Costs incurred to obtain or fulfill contracts with customers	$ 0

Revenues from Contracts with _4

Revenues from Contracts with Customers - Summary of Revenues from Contracts with Customers (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues Categorized as Revenues from Contracts with Customers and Other Sources of Revenues [Line Items]
Total operating revenues	$ 64,640	$ 67,718	$ 186,640	$ 199,496
Advisory Fees [Member]
Revenues Categorized as Revenues from Contracts with Customers and Other Sources of Revenues [Line Items]
Total operating revenues	63,919	67,006	184,077	197,473
Other Income [Member]
Revenues Categorized as Revenues from Contracts with Customers and Other Sources of Revenues [Line Items]
Total operating revenues	$ 721	$ 712	$ 2,563	$ 2,023

Revenues from Contracts with _5

Revenues from Contracts with Customers - Summary of Geographic Distribution of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues	$ 64,640	$ 67,718	$ 186,640	$ 199,496
UNITED STATES
Revenues	34,018	42,030	105,517	127,799
JERSEY
Revenues	29,527	23,896	77,693	66,425
IRELAND
Revenues	$ 1,095	1,164	3,065	3,491
CANADA
Revenues		$ 628	$ 365	$ 1,781

Related Party Transactions - Su

Related Party Transactions - Summary of Accounts Receivable from Related Parties (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Accounts receivable from related parties	$ 23,420	$ 25,667
WisdomTree Trust [Member]
Related Party Transaction [Line Items]
Accounts receivable from related parties	11,191	14,765
Manjer Issuers [Member]
Related Party Transaction [Line Items]
Accounts receivable from related parties	10,678	9,036
WisdomTree Multi Asset Issuer PLC And WisdomTree Issuer PLC [Member]
Related Party Transaction [Line Items]
Accounts receivable from related parties	1,497	1,559
WisdomTree Asset Management Canada, Inc [Member]
Related Party Transaction [Line Items]
Accounts receivable from related parties		227
WisdomTree Commodity Services LLC [Member]
Related Party Transaction [Line Items]
Accounts receivable from related parties	$ 54	$ 80

Related Party Transactions - _2

Related Party Transactions - Summary of Revenues from Advisory Services Provided to Related Parties (Detail) - Advisory Services [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Related Party Transaction [Line Items]
Revenues from advisory services	$ 63,919	$ 67,006	$ 184,077	$ 197,473
WisdomTree Trust [Member]
Related Party Transaction [Line Items]
Revenues from advisory services	33,767	41,721	104,757	126,761
Manjer Issuers [Member]
Related Party Transaction [Line Items]
Revenues from advisory services	27,397	21,758	71,325	60,398
WisdomTree Multi Asset Issuer PLC And WisdomTree Issuer PLC [Member]
Related Party Transaction [Line Items]
Revenues from advisory services	2,603	2,670	7,145	7,757
WisdomTree Asset Management Canada, Inc [Member]
Related Party Transaction [Line Items]
Revenues from advisory services		628	365	1,781
WisdomTree Commodity Services LLC [Member]
Related Party Transaction [Line Items]
Revenues from advisory services	$ 152	$ 229	$ 485	$ 776

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Securities owned, at fair value	$ 32,574		$ 32,574		$ 17,319
Gains and losses related to certain WisdomTree ETFs	86	$ 64	94	$ 212
WisdomTree ETF [Member]
Related Party Transaction [Line Items]
Securities owned, at fair value	$ 23,906		$ 23,906		$ 16,886

Stock-Based Awards - Additional

Stock-Based Awards - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 20, 2016	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Award
Stock option issuance period				10 years
Option vested period				1 year
Shares of common stock authorized to issue under equity award plan	10,000,000
Stock-based compensation expense		$ 2,844	$ 2,374	$ 9,003	$ 8,581
Below 25th Percentile [Member]
Share-based Payment Award
Shares granted and outstanding, Vesting percentage				0.00%
At 25th Percentile [Member]
Share-based Payment Award
Shares granted and outstanding, Vesting percentage				50.00%
At 50th Percentile [Member]
Share-based Payment Award
Shares granted and outstanding, Vesting percentage				100.00%
At 100th Percentile [Member]
Share-based Payment Award
Shares granted and outstanding, Vesting percentage				200.00%
Performance Based Restricted Stock Unit [Member] | Maximum [Member]
Share-based Payment Award
Shares granted and outstanding, Vesting percentage				200.00%
Performance Based Restricted Stock Unit [Member] | Minimum [Member]
Share-based Payment Award
Shares granted and outstanding, Vesting percentage				0.00%

Stock-Based Awards - Summary of

Stock-Based Awards - Summary of Unrecognized Stock-Based Compensation Expense and Average Remaining Vesting Period (Detail) - Employees and Directors [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average Remaining Vesting Period	1 year 5 months 26 days
Unrecognized Stock-Based Compensation	$ 12,669

Stock-Based Awards - Stock-Bas

Stock-Based Awards - Stock-Based Awards - Summary of Stock Options, Restricted Stock and Restricted Stock Unit Activity (Detail)	3 Months Ended
	Sep. 30, 2020shares
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, beginning balance	315,000
Options, ending balance	315,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Beginning Balance, Shares	3,696,879
Granted, Shares	80,862
Vested, Shares	(53,955)
Forfeited, Shares	(28,863)
Unvested Ending Balance, Shares	3,694,923
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Beginning Balance, Shares	43,056
Unvested Ending Balance, Shares	43,056
Performance Based Restricted Stock Unites (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Beginning Balance, Shares	349,623
Forfeited, Shares	(8,311)
Unvested Ending Balance, Shares	341,312

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net (loss)/income	$ (270)	$ 4,152	$ (22,158)	$ 15,455
Less: Income distributed to participating securities	(556)	(539)	(1,663)	(1,622)
Less: Undistributed income allocable to participating securities				(18)
Net (loss)/income available to common stockholders – Basic EPS	$ (826)	$ 3,613	$ (23,821)	$ 13,815
Weighted average common shares (in thousands)	145,564,000	151,897,000	149,886,000	151,782,000
Basic (loss)/earnings per share	$ (0.01)	$ 0.02	$ (0.16)	$ 0.09
Net (loss)/income available to common stockholders	$ (826)	$ 3,613	$ (23,821)	$ 13,815
Add back: Undistributed income allocable to participating securities				18
Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive				(18)
Net (loss)/income available to common stockholders – Diluted EPS	$ (826)	$ 3,613	$ (23,821)	$ 13,815
Weighted average common shares	145,564,000	151,897,000	149,886,000	151,782,000
Dilutive effect of common stock equivalents, excluding participating securities	0	135,000	0	172,000
Weighted average diluted shares	145,564,000	152,032,000	149,886,000	151,954,000
Diluted earnings per share	$ (0.01)	$ 0.02	$ (0.16)	$ 0.09

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents excluded from calculation of diluted earnings per share	324,383	126,824	441,331	64,866
Dilutive common stock equivalents	0	135,000	0	172,000
Convertible Common Stock [Member]
Earnings Per Share [Line Items]
Convertible debt instrument conversion price	$ 5.92		$ 5.92

Earnings Per Shares - Schedule

Earnings Per Shares - Schedule of Weighted Average Number of Shares (Detail) - shares shares in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020		Sep. 30, 2019	Sep. 30, 2020		Sep. 30, 2019
Earnings Per Share [Abstract]
Weighted average diluted shares as disclosed on the consolidated statements of operations	145,564	[1]	167,163	149,886	[1]	166,944
Weighted average shares of common stock issuable upon conversion of the Preferred Shares (Note 14)			(14,750)			(14,750)
Potentially dilutive restricted stock awards			(381)			(240)
Weighted average diluted shares	145,564		152,032	149,886		151,954
[1]	Excludes 15,307,153 and 14,997,269 participating securities and 4,669 and 5,437 potentially dilutive non-participating common stock equivalents for the three and nine months ended September 30, 2020 as the Company reported a net loss for the period.

Earnings Per Shares - Schedul_2

Earnings Per Shares - Schedule of Weighted Average Number of Shares (Parenthetical) (Detail) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Earnings Per Share [Abstract]
Participating Securities	15,307,153	14,997,269
Potentially Dilutive common stock equivalents	4,669	5,437

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Sep. 30, 2020	Mar. 31, 2020		Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Jun. 30, 2020
Schedule Of Income Tax [Line Items]
Tax effected NOLs - US		$ 514				$ 514
NOL expiration date						2024
Tax effected NOLs - International						$ 4,651		$ 9,336
Federal statutory rate		21.00%			21.00%	21.00%	21.00%
Accrued for unrecognized tax benefits and interest/penalties related to a tax position claimed or expected to be claimed on a tax return		$ 25,502	$ 24,429			$ 25,502		32,101	$ 24,364
Tax effected capital loss		$ 16,734				$ 16,734		8,226
Estimated effective rate		123.70%			51.90%	7.40%	31.20%
Income tax expense/(benefit)		$ 1,408			$ 4,483	$ (1,767)	$ 7,021
Reduction in unrecognized tax benefits			$ 5,981	[1]		5,981	$ 4,309
Non-taxable gain recognized upon sale of our Canadian ETF business						2,877
Decrease in unrecognized tax benefits in the next 12 months		4,756				4,756
Decrease in accrued interest and penalties over the next 12 months						1,427
UNITED KINGDOM | Release of Valuation Allowance on Account of Interest Carry Forwards [Member]
Schedule Of Income Tax [Line Items]
Decrease in valuation allowance on deferred tax assets						2,842
Coronavirus Aid, Relief, and Economic Security Act of 2020 (the "CARES Act") [Member]
Schedule Of Income Tax [Line Items]
Taxable income exemption percentage	80.00%
Net operating losses carryforwards term	5 years
Adjusted interest expense deduction limit percent	50.00%
Original interest expense deduction limit percentage	30.00%
Other Noncurrent Liabilities [Member]
Schedule Of Income Tax [Line Items]
Accrued for unrecognized tax benefits and interest/penalties related to a tax position claimed or expected to be claimed on a tax return		$ 25,502				$ 25,502		$ 32,101
[1]	Recorded as an income tax benefit of $5,981 during the nine months ended September 30, 2020, along with an equal and offsetting amount recorded in other gains and losses, net, to recognize a reduction in the indemnification asset. During the nine months ended September 30, 2019, an income tax benefit of $4,309 was recorded along with an equal and offsetting amount in other gains and losses, net.

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Deferred tax assets:
Capital losses	$ 16,734	$ 8,226
Operating lease liabilities	5,096	5,529
Interest carryforwards	2,582	2,615
NOLs – International	2,069	6,721
Accrued expenses	1,992	4,054
Stock-based compensation	1,793	1,754
Goodwill and intangible assets	1,526	1,671
NOLs – U.S.	514	642
Outside basis difference	123	123
Other	110	218
Deferred tax assets	32,539	31,553
Deferred tax liabilities:
Right of use assets – operating leases	4,038	4,400
Fixed assets and prepaid assets	1,328	1,326
Allocated equity component of convertible note	1,132
Unrealized gains		744
Deferred tax liabilities	6,498	6,470
Total deferred tax assets less deferred tax liabilities	26,041	25,083
Less: valuation allowance	(18,926)	(17,685)
Deferred tax assets, net	$ 7,115	$ 7,398

Income Taxes - Schedule of Chan

Income Taxes - Schedule of Changes in Balance of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020		Sep. 30, 2020	Sep. 30, 2019
Income Tax Contingency [Line Items]
Beginning balance		$ 24,364	$ 24,429	$ 32,101		$ 32,101
Decrease -Lapse of statute of limitations				(5,981)	[1]	(5,981)	$ (4,309)
Increases		81	76	76
Foreign currency translation	[2]	1,057	(141)	(1,767)
Ending balance		25,502	24,364	24,429		25,502
Unrecognized Tax Benefits [Member]
Income Tax Contingency [Line Items]
Beginning balance		19,831	19,946	25,998		25,998
Decrease -Lapse of statute of limitations	[1]			(4,620)
Foreign currency translation	[2]	860	(115)	(1,432)
Ending balance		20,691	19,831	19,946		20,691
Interest And Penalties [Member]
Income Tax Contingency [Line Items]
Beginning balance		4,533	4,483	6,103		6,103
Decrease -Lapse of statute of limitations	[1]			(1,361)
Increases		81	76	76
Foreign currency translation	[2]	197	(26)	(335)
Ending balance		$ 4,811	$ 4,533	$ 4,483		$ 4,811
[1]	Recorded as an income tax benefit of $5,981 during the nine months ended September 30, 2020, along with an equal and offsetting amount recorded in other gains and losses, net, to recognize a reduction in the indemnification asset. During the nine months ended September 30, 2019, an income tax benefit of $4,309 was recorded along with an equal and offsetting amount in other gains and losses, net.
[2]	The gross unrecognized tax benefits were accrued in British pounds.

Income Taxes - Schedule of Ch_2

Income Taxes - Schedule of Changes in Balance of Gross Unrecognized Tax Benefits (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020		Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Reduction in unrecognized tax benefits	$ 5,981	[1]	$ 5,981	$ 4,309
[1]	Recorded as an income tax benefit of $5,981 during the nine months ended September 30, 2020, along with an equal and offsetting amount recorded in other gains and losses, net, to recognize a reduction in the indemnification asset. During the nine months ended September 30, 2019, an income tax benefit of $4,309 was recorded along with an equal and offsetting amount in other gains and losses, net.

Shares Repurchased - Additional

Shares Repurchased - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 24, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Class of Stock [Line Items]
Repurchased common stock, value		$ 4,535	$ 80	$ 30,979	$ 2,187
Three-Year Share Repurchase Program [Member]
Class of Stock [Line Items]
Repurchased common stock, shares		1,066,261	13,300	8,189,973	338,578
Repurchased common stock, value		$ 4,535	$ 80	$ 30,979	$ 2,187
Dollar amount remaining available for future share repurchases		$ 52,410		$ 52,410
Share repurchase program, extended term date	Apr. 27, 2022

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Summary of Goodwill by Reporting Unit (Detail) $ in Thousands	Sep. 30, 2020USD ($)
Goodwill [Line Items]
Beginning balance	$ 85,856
Ending balance	85,856
Reportable Subsegments [Member]
Goodwill [Line Items]
Beginning balance	85,856
Ending balance	$ 85,856

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Apr. 11, 2018
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 85,856	$ 85,856
Intangible asset related to its customary advisory agreement	601,247	603,294
Acquisition of ETFS Business [Member]
Indefinite-lived Intangible Assets [Line Items]
Goodwill			$ 84,057
Intangible asset related to its customary advisory agreement	$ 601,247	$ 601,247

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Indefinite-lived Intangible Assets (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Indefinite-lived Intangible Assets [Line Items]
Beginning balance	$ 603,294
Decreases	(1,992)	[1]
Foreign currency translation	(55)
Ending balance	601,247
Acquisition Of Etfs Business [Member]
Indefinite-lived Intangible Assets [Line Items]
Beginning balance	601,247
Ending balance	601,247
Questrade ETFs [Member]
Indefinite-lived Intangible Assets [Line Items]
Beginning balance	2,047
Decreases	(1,992)	[1]
Foreign currency translation	$ (55)
[1]	Derecognized upon the sale of the Company’s Canadian ETF business (Note 25).

Exit Activities - Schedule of O

Exit Activities - Schedule of Operating Losses (Detail) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating losses		$ 587	$ 428	$ 2,436
WTAMC [Member]
Operating losses		502	$ 428	1,886
WisdomTree Japan Inc. ("WTJ") [Member]
Operating losses	[1]	$ 85		$ 550
[1]	WTJ also recognized an impairment expense of $572 in connection with the termination of its office lease on March 31, 2019.

Exit Activities - Schedule of_2

Exit Activities - Schedule of Operating Losses (Parenthetical) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
WisdomTree Japan Inc. ("WTJ") [Member]
Lease Impairment Charges	$ 572

Exit Activities - Additional In

Exit Activities - Additional Information (Detail) $ in Thousands, $ in Thousands	Feb. 19, 2020USD ($)	Feb. 19, 2020CAD ($)	Sep. 30, 2020USD ($)
Recognized gain loss on sale of business			$ 2,877
WisdomTree Asset Management Canada, Inc [Member]
Proceeds from divestiture of businesses	$ 2,774	$ 3,720
Term of contingent payments	3 years	3 years
WisdomTree Asset Management Canada, Inc [Member] | Minimum [Member]
Additional consideration payable		$ 2,000
WisdomTree Asset Management Canada, Inc [Member] | Maximum [Member]
Additional consideration payable		$ 8,000

Impairments (Details)

Impairments (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Impairments	$ 3,080	$ 22,752	$ 572
Wisdom Tree Japan [Member]
Impairments			$ 572
AdvisorEngine – Financial Interests [Member] | Financial Interests [Member]
Impairments		19,672
Thesys – Series Y Preferred [Member]
Impairments	$ 3,080	$ 3,080