Virtus Investment Partners (VRTS) 10-Q 29 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 23, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'VRTS	'
Entity Registrant Name	'VIRTUS INVESTMENT PARTNERS, INC.	'
Entity Central Index Key	'0000883237	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	9,120,254

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets:	'	'
Cash and cash equivalents	$170,367	$271,014
Cash of consolidated sponsored investment products	361	531
Cash pledged or on deposit of consolidated sponsored investment products	11,958	'
Investments	65,099	37,258
Investments of consolidated sponsored investment products	207,279	139,054
Accounts receivable, net	54,194	50,166
Furniture, equipment, and leasehold improvements, net	7,646	7,219
Intangible assets, net	42,582	44,633
Goodwill	5,260	5,260
Deferred taxes, net	57,064	64,500
Other assets	15,584	15,724
Other assets of consolidated sponsored investment products	3,285	9,595
Total assets	640,679	644,954
Liabilities:	'	'
Accrued compensation and benefits	29,784	53,140
Accounts payable and accrued liabilities	33,131	29,912
Dividends payable	4,179	'
Other liabilities	32,750	18,413
Other liabilities of consolidated sponsored investment products	16,011	8,435
Total liabilities	115,855	109,900
Commitments and Contingencies (Note 10)	'	'
Redeemable noncontrolling interests	10,397	42,186
Equity attributable to stockholders:	'	'
Common stock, $0.01 par value, 1,000,000,000 shares authorized; 9,535,913 shares issued and 9,119,000 shares outstanding at June 30, 2014 and 9,455,521 shares issued and 9,105,521 shares outstanding at December 31, 2013	95	95
Additional paid-in capital	1,128,064	1,135,644
Accumulated deficit	-563,740	-605,221
Accumulated other comprehensive income (loss)	48	-150
Treasury stock, at cost, 416,913 shares at June 30, 2014 and 350,000 shares at December 31, 2013	-49,938	-37,438
Total equity attributable to stockholders	514,529	492,930
Noncontrolling interests	-102	-62
Total equity	514,427	492,868
Total liabilities and equity	$640,679	$644,954

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Statement Of Financial Position [Abstract]	'	'
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	9,535,913	9,455,521
Common stock, shares outstanding	9,119,000	9,105,521
Treasury stock, shares	416,913	350,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues	'	'	'	'
Investment management fees	$74,537	$64,475	$146,329	$122,252
Distribution and service fees	23,940	19,324	46,378	36,685
Administration and transfer agent fees	13,942	12,061	27,015	22,756
Other income and fees	330	280	898	615
Total revenues	112,749	96,140	220,620	182,308
Operating Expenses	'	'	'	'
Employment expenses	35,481	32,878	70,510	65,289
Distribution and administration expenses	39,222	24,252	66,959	45,880
Other operating expenses	13,130	10,283	23,664	19,240
Other operating expenses of consolidated sponsored investment products	797	132	1,128	316
Restructuring and severance	'	'	'	203
Depreciation and other amortization	670	597	1,327	1,172
Amortization expense	947	1,116	1,904	2,226
Total operating expenses	90,247	69,258	165,492	134,326
Operating Income	22,502	26,882	55,128	47,982
Other Income (Expense)	'	'	'	'
Realized and unrealized gain (loss) on investments, net	905	-223	2,751	602
Realized and unrealized gain (loss) on investments of consolidated sponsored investment products, net	6,444	-3,156	6,480	-2,784
Other income (expense), net	189	-11	340	-29
Total other income (expense), net	7,538	-3,390	9,571	-2,211
Interest Income (Expense)	'	'	'	'
Interest expense	-125	-206	-263	-427
Interest and dividend income	344	203	727	300
Interest and dividend income of investments of consolidated sponsored investment products	1,639	612	2,512	1,092
Total interest income, net	1,858	609	2,976	965
Income Before Income Taxes	31,898	24,101	67,675	46,736
Income tax expense	12,106	9,318	26,116	17,768
Net Income	19,792	14,783	41,559	28,968
Noncontrolling interests	-249	602	-78	377
Net Income Attributable to Common Stockholders	$19,543	$15,385	$41,481	$29,345
Earnings per share-Basic	$2.14	$1.97	$4.55	$3.75
Earnings per share-Diluted	$2.10	$1.91	$4.44	$3.64
Cash dividends declared per share	$0.45	$0	$0.45	$0
Weighted Average Shares Outstanding-Basic (in thousands)	9,133	7,821	9,125	7,821
Weighted Average Shares Outstanding-Diluted (in thousands)	9,325	8,058	9,343	8,073

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]	'	'	'	'
Net Income	$19,792	$14,783	$41,559	$28,968
Other comprehensive income (loss), net of tax:	'	'	'	'
Foreign currency translation adjustment, net of tax of $8 and $11 for the three months ended June 30, 2014 and 2013, respectively and $(7) and $11 for the six months ended June 30, 2014 and 2013, respectively	-11	-18	13	-18
Unrealized gain (loss) on available-for-sale securities, net of tax of $(75) and $57 for the three months ended June 30, 2014 and 2013, respectively and $(115) and $178 for the six months ended June 30, 2014 and 2013, respectively	122	-94	185	139
Other comprehensive income (loss)	111	-112	198	121
Comprehensive income	19,903	14,671	41,757	29,089
Comprehensive (income) loss attributable to noncontrolling interests	-249	602	-78	377
Comprehensive income attributable to common stockholders	$19,654	$15,273	$41,679	$29,466

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]	'	'	'	'
Foreign currency translation adjustment, tax	$8	$11	($7)	$11
Unrealized gain (loss) on available-for-sale securities, tax	($75)	$57	($115)	$178

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash Flows from Operating Activities:	'	'
Net Income	$41,559	$28,968
Adjustments to reconcile net income to net cash (used in) provided by operating activities:	'	'
Depreciation expense, intangible asset and other amortization	3,340	3,503
Stock-based compensation	4,510	4,044
Excess tax benefits from stock-based compensation	-583	0
Amortization of deferred commissions	9,578	6,165
Payments of deferred commissions	-8,490	-9,088
Equity in (earnings) losses of equity method investments	-61	18
Realized and unrealized gains on trading securities	-2,751	-602
Realized and unrealized (gains) losses on investments of consolidated sponsored investment products	-6,666	2,784
Sale of trading securities, net	20,576	736
Purchase of investments by consolidated sponsored investment products, net	-150,473	-13,798
Sale of securities sold short by consolidated sponsored investment products, net	10,501	0
Deferred income taxes	7,314	16,869
Changes in operating assets and liabilities:	'	'
Cash pledged or on deposit of consolidated sponsored investment products	-11,958	0
Accounts receivable, net and other assets	-5,022	-8,301
Other assets of consolidated sponsored investment products	4,455	-1,294
Accrued compensation and benefits, accounts payable, accrued liabilities and other liabilities	-5,306	-8,547
Other liabilities of consolidated sponsored investment products	-1,606	719
Net cash (used in) provided by operating activities	-91,083	22,176
Cash Flows from Investing Activities:	'	'
Capital expenditures	-1,459	-1,271
Acquisition of equity method investee	0	-3,364
Change in cash and cash equivalents of consolidated sponsored investment products due to deconsolidation	-366	-734
Purchase of available-for-sale securities	-204	-96
Net cash used in investing activities	-2,029	-5,465
Cash Flows from Financing Activities:	'	'
Contingent consideration paid for acquired investment management contracts	0	-285
Repurchase of common shares	-12,500	-14,966
Proceeds from exercise of stock options	391	361
Taxes paid related to settlement of employee share transactions	-9,271	-7,172
Excess tax benefits from stock-based compensation	583	0
Contributions of noncontrolling interests, net	13,092	12,790
Net cash used in financing activities	-7,705	-9,272
Net (decrease) increase in cash and cash equivalents	-100,817	7,439
Cash and cash equivalents, beginning of period	271,545	63,446
Cash and Cash Equivalents, end of period	170,728	70,885
Non-Cash Financing Activities:	'	'
Satisfaction of accrued compensation through the issuance of RSU's	849	209
Decrease to noncontrolling interest due to deconsolidation of sponsored investment products, net	-45,003	-6,187
Dividend payable	$4,179	$0

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Changes in Equity (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Total Attributed To Stockholders [Member]	Non-controlling Interests [Member]	Redeemable Non-controlling Interests [Member]
In Thousands, except Share data
Beginning Balance at Dec. 31, 2012	$244,471	$81	$942,825	($680,411)	($287)	($17,734)	$244,474	($3)	$3,163
Balance, shares at Dec. 31, 2012	'	7,826,674	'	'	'	245,000	'	'	'
Net income (loss)	29,313	'	'	29,345	'	'	29,345	-32	-345
Net unrealized gain on securities available-for-sale	139	'	'	'	139	'	139	'	'
Foreign currency translation adjustment	-18	'	'	'	-18	'	-18	'	'
Activity of noncontrolling interests, net	0	'	'	'	'	'	'	'	6,603
Repurchase of common shares	-14,966	'	'	'	'	-14,966	-14,966	'	'
Repurchase of common shares, shares	80,000	-80,000	'	'	'	80,000	'	'	'
Issuance of common stock related to employee stock transactions	864	'	864	'	'	'	864	'	'
Issuance of common stock related to employee stock transactions, shares	'	74,159	'	'	'	'	'	'	'
Taxes paid on stock-based compensation	-7,172	'	-7,172	'	'	'	-7,172	'	'
Stock-based compensation	3,750	'	3,750	'	'	'	3,750	'	'
Balance at Jun. 30, 2013	256,381	81	940,267	-651,066	-166	-32,700	256,416	-35	9,421
Balance, shares at Jun. 30, 2013	'	7,820,833	'	'	'	325,000	'	'	'
Beginning Balance at Dec. 31, 2013	492,868	95	1,135,644	-605,221	-150	-37,438	492,930	-62	42,186
Balance, shares at Dec. 31, 2013	9,105,521	9,105,521	'	'	'	350,000	'	'	'
Net income (loss)	41,441	'	'	41,481	'	'	41,481	-40	118
Net unrealized gain on securities available-for-sale	185	'	'	'	185	'	185	'	'
Foreign currency translation adjustment	13	'	'	'	13	'	13	'	'
Activity of noncontrolling interests, net	0	'	'	'	'	'	'	'	-31,907
Cash dividends declared	-4,179	'	-4,179	'	'	'	-4,179	'	'
Repurchase of common shares	-12,500	'	'	'	'	-12,500	-12,500	'	'
Repurchase of common shares, shares	66,913	-66,913	'	'	'	66,913	'	'	'
Issuance of common stock related to employee stock transactions	954	'	954	'	'	'	954	'	'
Issuance of common stock related to employee stock transactions, shares	'	80,392	'	'	'	'	'	'	'
Taxes paid on stock-based compensation	-9,271	'	-9,271	'	'	'	-9,271	'	'
Stock-based compensation	4,333	'	4,333	'	'	'	4,333	'	'
Excess tax benefits from stock-based compensation	583	'	583	'	'	'	583	'	'
Balance at Jun. 30, 2014	$514,427	$95	$1,128,064	($563,740)	$48	($49,938)	$514,529	($102)	$10,397
Balance, shares at Jun. 30, 2014	9,119,000	9,119,000	'	'	'	416,913	'	'	'

Organization_and_Business

Organization and Business	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Organization and Business	'
	1. Organization and Business
	Virtus Investment Partners, Inc. (the “Company,” “we,” “us,” “our” or “Virtus”), a Delaware corporation, operates in the investment management industry through its wholly-owned subsidiaries.
	The Company provides investment management and related services to individuals and institutions throughout the United States of America. The Company’s retail investment management services are provided to individuals through products consisting of open-end mutual funds, closed-end funds, variable insurance funds and separately managed accounts. Separately managed accounts are offered through intermediary programs that are sponsored and distributed by unaffiliated broker-dealers and individual direct managed account investment services that are provided by the Company. Institutional investment management services are provided primarily to corporations, multi-employer retirement funds, employee retirement systems, foundations and endowments.

Basis_of_Presentation_and_Sign

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation and Significant Accounting Policies	'
	2. Basis of Presentation and Significant Accounting Policies
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, these financial statements contain all adjustments, consisting only of normal recurring adjustments, necessary for fair statement of the Company’s financial condition and results of operations. Operating results for the six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.
	The condensed consolidated financial statements include the accounts of the Company, its subsidiaries and sponsored investment products in which it has a controlling financial interest. The Company is generally considered to have a controlling financial interest when it owns a majority of the voting interest in an entity or otherwise has the power to govern the financial and operating policies of the subsidiary. (See Note 11 for additional information related to the consolidation of sponsored investment products.) Intercompany accounts and transactions have been eliminated. The Company also evaluates any variable interest entities (“VIEs”) in which the Company has a variable interest for consolidation. A VIE is an entity in which either (a) the equity investment at risk is not sufficient to permit the entity to finance its own activities without additional financial support, or (b) where as a group, the holders of equity investment at risk do not possess: (i) the power to direct the activities that most significantly impact the entity’s performance; (ii) the obligation to absorb expected losses or the right to receive expected residual returns of the entity; or (iii) proportionate voting and economic interests and where substantially all of the entity’s activities either involve or are conducted on behalf the equity holders. If an entity has either of these characteristics, it is considered a VIE and required to be consolidated by its primary beneficiary. The primary beneficiary is the entity that has both the power to direct the activities that most significantly impact the VIE’s economic performance and has the obligation to absorb losses of, or the right to receive benefits from, the VIE that could potentially be significant to the VIE.
	These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 (the “2013 Annual Report on Form 10-K”) filed with the Securities and Exchange Commission (“SEC”). The Company’s significant accounting policies, which have been consistently applied, are summarized in the 2013 Annual Report on Form 10-K.
	Effective December 31, 2013, the Company changed the presentation of its Consolidated Balance Sheets from a classified basis, which distinguishes between current and long-term assets and liabilities, to an unclassified basis, which has no such distinction. There were no changes to the Condensed Consolidated Balance Sheets that impacted the Condensed Consolidated Statements of Operations. Amounts in the prior year’s Condensed Consolidated Statements of Cash Flows have been recast to conform to the current year’s presentation.

Intangible_Assets_Net

Intangible Assets, Net	6 Months Ended
	Jun. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Intangible Assets, Net	'
	3. Intangible Assets, Net
	Intangible assets, net are summarized as follows:
		June 30,			December 31,
		2014			2013
	($ in thousands)
	Definite-lived intangible assets:
	Investment contracts	$	157,672		$	157,882
	Accumulated amortization		(147,506	)		(145,665	)
	Definite-lived intangible assets, net		10,166			12,217
	Indefinite-lived intangible assets		32,416			32,416
	Total intangible assets, net	$	42,582		$	44,633
	Activity in intangible assets, net is as follows:
		Six Months Ended June 30,
		2014			2013
	($ in thousands)
	Intangible assets, net
	Balance, beginning of period	$	44,633		$	48,711
	Amortization		(2,051	)		(2,105	)
	Balance, end of period	$	42,582		$	46,606

Investments

Investments	6 Months Ended
	Jun. 30, 2014
Investments Schedule [Abstract]	'
Investments	'
	4. Investments
	Investments consist primarily of investments in our sponsored mutual funds. The Company’s investments, excluding the assets of consolidated sponsored investment products discussed in Note 11, at June 30, 2014 and December 31, 2013 are as follows:
		June 30,		December 31,
		2014		2013
	($ in thousands)
	Marketable securities	$	56,403	$	28,968
	Equity method investments		4,150		4,070
	Nonqualified retirement plan assets		4,546		4,220
	Total investments	$	65,099	$	37,258
	Marketable Securities
	The Company’s marketable securities consist of both trading and available-for-sale securities. The composition of the Company’s marketable securities is summarized as follows:
	June 30, 2014
		Cost		Unrealized			Unrealized		Fair
				Loss			Gain		Value
	($ in thousands)
	Trading:
	Sponsored funds	$	40,403	$	(453	)	$	4,031	$	43,981
	Equity securities		7,911		—			1,322		9,233
	Available-for-sale:
	Sponsored funds		3,019		(95	)		265		3,189
	Total marketable securities	$	51,333	$	(548	)	$	5,618	$	56,403
	December 31, 2013
		Cost		Unrealized			Unrealized		Fair
				Loss			Gain		Value
	($ in thousands)
	Trading:
	Sponsored funds	$	16,079	$	(704	)	$	2,529	$	17,904
	Equity securities		7,043		—			1,336		8,379
	Available-for-sale:
	Sponsored funds		2,815		(145	)		15		2,685
	Total marketable securities	$	25,937	$	(849	)	$	3,880	$	28,968
	For the three months ended June 30, 2014 and 2013, the Company recognized realized gains of $3.6 million and $0.2 million, respectively, and $4.5 million and $0.3 million for the six months ended June 30, 2014, respectively, on trading securities.

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	5. Fair Value Measurements
	The Company’s assets and liabilities measured at fair value, excluding the assets and liabilities of consolidated sponsored investment products discussed in Note 11, on a recurring basis as of June 30, 2014 and December 31, 2013 by fair value hierarchy level were as follows:
	June 30, 2014
		Level 1		Level 2		Level 3		Total
	($ in thousands)
	Assets
	Cash equivalents	$	167,586	$	—	$	—	$	167,586
	Marketable securities trading:
	Sponsored funds		43,981		—		—		43,981
	Equity securities		9,233		—		—		9,233
	Marketable securities available for sale:
	Sponsored funds		3,189		—		—		3,189
	Other investments:
	Nonqualified retirement plan assets		4,546		—		—		4,546
	Total assets measured at fair value	$	228,535	$	—	$	—	$	228,535
	December 31, 2013
		Level 1		Level 2		Level 3		Total
	($ in thousands)
	Assets
	Cash equivalents	$	270,262	$	—	$	—	$	270,262
	Marketable securities trading:
	Sponsored funds		17,904		—		—		17,904
	Equity securities		8,379		—		—		8,379
	Marketable securities available for sale:
	Sponsored funds		2,685		—		—		2,685
	Other investments:
	Nonqualified retirement plan assets		4,220		—		—		4,220
	Total assets measured at fair value	$	303,450	$	—	$	—	$	303,450
	The following is a discussion of the valuation methodologies used for the Company’s assets measured at fair value.
	Sponsored funds represent investments in open-end mutual funds, variable insurance funds and closed-end funds for which the Company acts as the investment manager. The fair value of open-end mutual funds and variable insurance funds is determined based on their published net asset values and are categorized as Level 1. The fair value of closed-end funds is determined based on the official closing price of the exchange they are traded on and are categorized as Level 1.
	Equity securities include securities traded on active markets and are valued at the official closing price (typically last sale or bid) on the exchange on which the securities are primarily traded and are categorized as Level 1.
	Nonqualified retirement plan assets represent mutual funds within a nonqualified retirement plan whose fair value is determined based on their published net asset value and are categorized as Level 1.
	Cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities equal or approximate fair value based on the short-term nature of these instruments. Marketable securities are reflected in the condensed consolidated financial statements at fair value based upon publicly quoted market prices.
	Transfers into and out of levels are reflected when significant inputs, including market inputs or performance attributes, used for the fair value measurement become observable or unobservable or when the Company determines it has the ability, or no longer has the ability, to redeem, in the near term, certain investments that the Company values using a net asset value, or if the book value of certain equity method investments no longer represents fair value. There were no transfers between Level 1 and Level 2 during the six months ended June 30, 2014 or 2013.

Treasury_Stock_and_Dividends

Treasury Stock and Dividends	6 Months Ended
	Jun. 30, 2014
Text Block [Abstract]	'
Treasury Stock and Dividends	'
	6. Treasury Stock and Dividends
	During the six months ended June 30, 2014 and 2013, the Company repurchased 66,913 and 80,000 common shares, respectively, at a weighted average price of $186.77 and $187.03 per share, respectively, plus transaction costs for a total cost of approximately $12.5 million and $15.0 million, respectively. The Company has repurchased a total of 416,913 shares of common stock at a weighted average price of $119.74 per share plus transaction costs for a total cost of $49.9 million under its share repurchase program. At June 30, 2014, there were 283,087 shares of common stock available to repurchase under the Company’s current authorization through the share repurchase program.
	On May 15, 2014, the Board of Directors approved a cash dividend on the Company’s common stock in the amount of $0.45 per share to stockholders of record as of July 31, 2014, to be paid on August 14, 2014. The total dividend to be paid is approximately $4.2 million and is included in liabilities in the condensed consolidated balance sheet at June 30, 2014.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Accumulated Other Comprehensive Income	'
	7. Accumulated Other Comprehensive Income
	The changes in accumulated other comprehensive income, by component, for the six months ended June 30, 2014 and 2013 were as follows:
		Unrealized Gains			Foreign Currency
		and (Losses)			Translation
		on Securities			Adjustments
		Available-for-
		Sale
	($ in thousands)
	Balance December 31, 2013	$	(231	)	$	81
	Unrealized net gains on investments, net of tax of ($115)		185			—
	Foreign currency translation adjustments, net of tax of $7		—			13
	Amounts reclassified from accumulated other comprehensive income		—			—
	Net current-period other comprehensive income		185			13
	Balance June 30, 2014	$	(46	)	$	94
	($ in thousands)	Unrealized Gains			Foreign Currency
		and (Losses)			Translation
		on Securities			Adjustments
		Available-for-
		Sale
	Balance December 31, 2012	$	(287	)	$	—
	Unrealized net gains on investments, net of tax of $178		139			—
	Foreign currency translation, net of tax of $11		—			(18	)
	Amounts reclassified from accumulated other comprehensive income		—			—
	Net current-period other comprehensive income		139			(18	)
	Balance June 30, 2013	$	(148	)	$	(18	)

Stockbased_Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Stock-based Compensation	'
	8. Stock-based Compensation
	The Company has an Omnibus Incentive and Equity Plan (the “Plan”) under which officers, employees and directors may be granted equity-based awards, including restricted stock units (“RSUs”), stock options and unrestricted shares of common stock. At June 30, 2014, 433,130 shares of common stock remain available for issuance of the 1,800,000 shares that were reserved for issuance under the Plan. Each RSU entitles the holder to one share of common stock when the restriction expires. RSUs generally have a term of one to three years and may be time-vested or performance-contingent. Stock options generally cliff vest after three years and have a contractual life of ten years. Stock options are granted with an exercise price equal to the fair market value of the shares at the date of grant. The fair value of each RSU is estimated using the intrinsic value method, which is based on the fair market value price on the date of grant unless it contains a performance metric that is considered a market condition. RSUs that contain a market condition are valued using a simulation valuation model. Shares that are issued upon exercise of stock options and vesting of RSUs are newly issued shares from the Plan and are not issued from treasury stock.
	Restricted Stock Units
	RSU activity for the six months ended June 30, 2014 are summarized as follows:
		Number			Weighted
		of Shares			Average
					Grant Date
					Fair Value
	Outstanding at December 31, 2013		233,763		$	87.97
	Granted		70,302		$	183.98
	Forfeited		(10,966	)	$	132.15
	Settled		(115,084	)	$	60.74
	Outstanding at June 30, 2014		178,015		$	140.77
	For the six months ended June 30, 2014 and 2013, a total of 49,819 and 36,427 RSUs, respectively, were withheld by the Company as a result of net share settlements to satisfy employee tax withholding obligations. During the six months ended June 30, 2014 and 2013, the Company paid $9.3 million and $7.2 million, respectively, in employee tax withholding obligations related to employee share transactions during each period. These net share settlements had the effect of share repurchases by the Company as they reduced the number of shares that would have been otherwise issued as a result of the vesting or exercise.
	Stock Options
	Stock option activity for the six months ended June 30, 2014 are summarized as follows:
		Number			Weighted
		of Shares			Average
					Exercise Price
	Outstanding at December 31, 2013		190,160		$	20.11
	Granted		—		$	—
	Exercised		(14,270	)	$	28.33
	Forfeited		—		$	—
	Outstanding at June 30, 2014		175,890		$	19.44
	The Company recognized total stock compensation expense of $2.9 million and $2.6 million, respectively, and $4.5 million and $4.0 million, respectively, for the three and six months ended June 30, 2014 and 2013. As of June 30, 2014 and 2013, unamortized stock-based compensation expense for unvested RSUs was $16.3 million and $13.3 million, with a weighted-average remaining amortization period of 1.6 years and 1.5 years, respectively. There was no unamortized stock-based compensation expense related to stock options as of June 30, 2014 as all outstanding options were fully vested and unamortized stock-based compensation expense related to stock options was $0.1 million with a weighted-average remaining amortization period of 0.6 years at June 30, 2013.

Earnings_per_Share

Earnings per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings per Share	'
	9. Earnings per Share
	Basic earnings per share (“EPS”) excludes dilution for potential common stock issuances and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted EPS, the basic weighted-average number of shares is increased by the dilutive effect of RSUs and common stock options using the treasury stock method.
	The computation of basic and diluted EPS is as follows:
		Three Months Ended June 30,					Six Months Ended June 30,
		2014			2013		2014			2013
	($ in thousands, except per share amounts)
	Net Income	$	19,792		$	14,783	$	41,559		$	28,968
	Noncontrolling interests		(249	)		602		(78	)		377
	Net Income Attributable to Common Stockholders	$	19,543		$	15,385	$	41,481			29,345
	Shares (in thousands):
	Basic: Weighted-average number of shares outstanding		9,133			7,821		9,125			7,821
	Plus: Incremental shares from assumed conversion of dilutive instruments		192			237		218			252
	Diluted: Weighted-average number of shares outstanding		9,325			8,058		9,343			8,073
	Earnings per share - basic	$	2.14		$	1.97	$	4.55		$	3.75
	Earnings per share - diluted	$	2.1		$	1.91	$	4.44		$	3.64
	Cash dividends declared per share	$	0.45		$	—	$	0.45		$	—
	For the three months ended June 30, 2014, there were 9,275 instruments excluded from the above computation of weighted-average shares for diluted EPS because the effect would be anti-dilutive. For the three and six months ended June 30, 2013, respectively, there were no instruments excluded from the above computation of weighted-average shares for diluted EPS.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments And Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	10. Commitments and Contingencies
	Legal Matters
	The Company is regularly involved in litigation and arbitration as well as examinations and investigations by various regulatory bodies, including the SEC, involving its compliance with, among other things, securities laws, client investment guidelines, laws governing the activities of broker-dealers and other laws and regulations affecting its products and other activities. Legal and regulatory matters of this nature may involve activities as an employer, issuer of securities, investor, investment adviser, broker-dealer or taxpayer. The Company cannot predict the ultimate outcome of such legal claims or matters or in certain instances provide reasonable ranges of potential losses. As of the date of this report, the Company believes that the outcomes of its legal or regulatory matters are not likely, either individually or in the aggregate, to have a material adverse effect on its consolidated financial condition. However, in the event of unexpected subsequent developments and given the inherent unpredictability of these legal and regulatory matters, there can be no assurance that the Company’s assessment of any claim, dispute, regulatory examination or investigation or other legal matter will reflect the ultimate outcome and an adverse outcome in certain matters could, from time to time, have a material adverse effect on the Company’s results of operations or cash flows in particular quarterly or annual periods.

Consolidated_Sponsored_Investm

Consolidated Sponsored Investment Products	6 Months Ended
	Jun. 30, 2014
Organization Consolidation And Presentation Of Financial Statements [Abstract]	'
Consolidated Sponsored Investment Products	'
	11. Consolidated Sponsored Investment Products
	In the normal course of its business, the Company sponsors various types of investment products. The Company consolidates an investment product when it owns a majority of the voting interest in the entity or it is the primary beneficiary of an investment product that is a variable interest entity. The consolidation and deconsolidation of these investment products has no impact on net income attributable to stockholders. The Company’s risk with respect to these investments is limited to its investment in these products. The Company has no right to the benefits from, and does not bear the risks associated with, these investment products, beyond the Company’s investments in, and fees generated from these products. If the Company were to liquidate, these investments would not be available to the general creditors of the Company. The Company does not consider cash and investments held by consolidated sponsored investment products to be assets of the Company other than its direct investment in these products.
	As of June 30, 2014 and December 31, 2013, the Company consolidated eleven and eight sponsored investment products, respectively. During the six months ended June 30, 2014, the Company consolidated four additional sponsored investment products and deconsolidated one sponsored investment product because it no longer had a majority voting interest.
	The following table presents the balances of the consolidated sponsored investment products that were reflected in the Condensed Consolidated Balance Sheets as of June 30, 2014 and December 31, 2013:
			As of
			June 30,			December 31,
			2014			2013
	($ in thousands)
	Total cash		$	12,319		$	531
	Total investments			207,279			139,054
	All other assets			3,285			9,595
	Total liabilities			(16,011	)		(8,435	)
	Redeemable noncontrolling interests			(10,397	)		(42,186	)
	The Company’s net interests in consolidated sponsored investment products		$	196,475		$	98,559
	Consolidation
	The following tables reflect the impact of the consolidated sponsored investment products in the Condensed Consolidated Balance Sheets as of June, 30, 2014 and December 31, 2013 and the Condensed Consolidated Statements of Income for the three and six months ended June 30, 2014 and 2013, respectively:
	As of June 30, 2014
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Consolidated
						Products						Balance Sheet
	($ in thousands)
	Total cash		$	170,367		$	12,319		$	—		$	182,686
	Total investments			261,414			207,279			(196,315	)		272,378
	All other assets			182,490			3,285			(160	)		185,615
	Total assets		$	614,271		$	222,883		$	(196,475	)	$	640,679
	Total liabilities		$	99,844		$	16,171		$	(160	)	$	115,855
	Redeemable noncontrolling interests			—			—			10,397			10,397
	Equity attributable to stockholders of the Company			514,529			206,712			(206,712	)		514,529
	Non-redeemable noncontrolling interests			(102	)		—			—			(102	)
	Total liabilities and equity		$	614,271		$	222,883		$	(196,475	)	$	640,679
	As of December 31, 2013
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Consolidated
						Products						Balance Sheet
	($ in thousands)
	Total cash		$	271,014		$	531		$	—		$	271,545
	Total investments			135,692			139,054			(98,434	)		176,312
	All other assets			187,627			9,595			(125	)		197,097
	Total assets		$	594,333		$	149,180		$	(98,559	)	$	644,954
	Total liabilities		$	101,465		$	8,560		$	(125	)	$	109,900
	Redeemable noncontrolling interests			—			—			42,186			42,186
	Equity attributable to stockholders of the Company			492,930			140,620			(140,620	)		492,930
	Non-redeemable noncontrolling interests			(62	)		—			—			(62	)
	Total liabilities and equity		$	594,333		$	149,180		$	(98,559	)	$	644,954
	(a)	Adjustments include the elimination of intercompany transactions between the Company and its consolidated sponsored investment products, primarily the elimination of the investments and equity and recording of any noncontrolling interest.
	The following table reflects the impact of the consolidated sponsored investment products in the Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2014 and 2013:
	For the Three Months Ended June 30, 2014
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Condensed
						Products						Consolidated
												Statement of
												Operations
	($ in thousands)
	Total operating revenues		$	112,871		$	—		$	(122	)	$	112,749
	Total operating expenses			89,450			919			(122	)		90,247
	Operating income (loss)			23,421			(919	)		—			22,502
	Total other non-operating income			8,198			8,082			(6,884	)		9,396
	Income before income tax expense			31,619			7,163			(6,884	)		31,898
	Income tax expense			12,106			—			—			12,106
	Net income			19,513			7,163			(6,884	)		19,792
Noncontrolling interests			30			—			(279	)		(249	)
Net income attributable to the Company		$	19,543		$	7,163		$	(7,163	)	$	19,543
For the Three Months Ended June 30, 2013
		Balance Before			Consolidated			Eliminations			Balances as
		Consolidation of			Investment			and			Reported in
		Investment			Products			Adjustments (a)			Condensed
		Products									Consolidated
											Statement of
											Operations
($ in thousands)
Total operating revenues		$	96,135		$	—		$	5		$	96,140
Total operating expenses			69,125			128			5			69,258
Operating income (loss)			27,010			(128	)		—			26,882
Total other non-operating (expense) income			(2,321	)		(2,543	)		2,083			(2,781	)
Income (loss) before income tax expense			24,689			(2,671	)		2,083			24,101
Income tax expense			9,318			—			—			9,318
Net income (loss)			15,371			(2,671	)		2,083			14,783
Noncontrolling interests			14			—			588			602
Net income (loss) attributable to the Company		$	15,385		$	(2,671	)	$	2,671		$	15,385
For the Six Months Ended June 30, 2014
		Balance Before			Consolidated			Eliminations			Balances as
		Consolidation of			Sponsored			and			Reported in
		Investment Products			Investment			Adjustments (a)			Condensed
					Products						Consolidated
											Statement of
											Operations
($ in thousands)
Total operating revenues		$	220,726		$	—		$	(106	)	$	220,620
Total operating expenses			164,364			1,234			(106	)		165,492
Operating income (loss)			56,362			(1,234	)		—			55,128
Total other non-operating income			11,195			8,992			(7,640	)		12,547
Income before income tax expense			67,557			7,758			(7,640	)		67,675
Income tax expense			26,116			—			—			26,116
Net income			41,441			7,758			(7,640	)		41,559
Noncontrolling interests			40			—			(118	)		(78	)
Net income attributable to the Company		$	41,481		$	7,758		$	(7,758	)	$	41,481
For the Six Months Ended June 30, 2013
		Balance Before			Consolidated			Eliminations			Balances as
		Consolidation of			Investment			and			Reported in
		Investment			Products			Adjustments (a)			Condensed
		Products									Consolidated
											Statement of
											Operations
($ in thousands)
Total operating revenues		$	182,256		$	—		$	52		$	182,308
Total operating expenses			134,010			264			52			134,326
Operating income (loss)			48,246			(264	)		—			47,982
Total other non-operating expense			(1,165	)		(1,691	)		1,610			(1,246	)
Income (loss) before income tax expense			47,081			(1,955	)		1,610			46,736
Income tax expense			17,768			—			—			17,768
Net income (loss)			29,313			(1,955	)		1,610			28,968
Noncontrolling interests			32			—			345			377
Net income (loss) attributable to the Company		$	29,345		$	(1,955	)	$	1,955		$	29,345
(a)	Adjustments include the elimination of intercompany transactions between the Company and its consolidated sponsored investment products, primarily the elimination of the investments and equity and recording of any noncontrolling interest.
Fair Value Measurements of Consolidated Sponsored Investment Products
The assets and liabilities of the consolidated sponsored investment products measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013 by fair value hierarchy level were as follows:
June 30, 2014
		Level 1			Level 2			Level 3			Total
($ in thousands)
Assets
Debt securities		$	—		$	112,333		$	450		$	112,783
Equity securities			93,332			1,164			—			94,496
Derivatives			15			31			—			46
Total Assets Measured at Fair Value		$	93,347		$	113,528		$	450		$	207,325
Liabilities
Short sales		$	9,024		$	2,020		$	—		$	11,044
December 31, 2013
		Level 1			Level 2			Level 3			Total
($ in thousands)
Assets
Debt securities		$	—		$	47,114		$	—		$	47,114
Equity securities			91,940			—			—			91,940
Total Assets Measured at Fair Value		$	91,940		$	47,114		$	—		$	139,054
The following is a discussion of the valuation methodologies used for the assets and liabilities of the Company’s consolidated sponsored investment products measured at fair value.
Investments of consolidated sponsored investment products represent the underlying debt and equity securities held in sponsored products which are consolidated by the Company. Equity securities are valued at the official closing price on the exchange on which the securities are traded and are categorized within Level 1. Level 2 investments include certain equity securities for which closing prices are not readily available or are deemed to not reflect readily available market prices and are valued using an independent pricing service as well as most debt securities, which are valued based on quotations received from independent pricing services or from dealers who make markets in such securities. Pricing services do not provide pricing for all securities and therefore indicative bids from dealers are utilized, which are based on pricing models used by market makers in the security and are also included within Level 2. Level 3 investments include debt securities that are not widely traded and are illiquid that are priced by dealers based on pricing models used by market makers in the security.
The following table is a reconciliation of assets of consolidated sponsored investment products for Level 3 investments for which significant unobservable inputs were used to determine fair value.
		Debt
		securities (a)
Balance at December 31, 2013		$	—
Purchases			450
Balance at June 30, 2014		$	450
(a)	None of the securities in the above table are internally fair valued at June 30, 2014.
The Company recognized no gain or loss in the three and six months ended June 30, 2014 related to changes in market value of these investments.
There were no transfers between Level 1, Level 2, and Level 3 during the six months ended June 30, 2014 and 2013, respectively.
Derivatives
Beginning in the second quarter of 2014, the Company consolidated investment products which include derivative instruments as part of their investment strategies. These derivatives may include futures contracts, options contracts, and forward contracts. The fair value of such derivatives at June 30, 2014 was immaterial. The change in fair value of such derivatives, which is recorded in realized and unrealized gain (loss) on investments of consolidated sponsored investment products, net, was immaterial for the three and six months ended June 30, 2014. In connection with entering into these derivative contracts these funds may be required to pledge to the broker an amount of cash equal to the “initial margin” requirements that varies based on the type of derivative. The cash pledged or on deposit is recorded in the Condensed Consolidated Balance Sheet of the Company as Cash pledged or on deposit of consolidated sponsored investment products.
Short Sales
Some of the Company’s consolidated sponsored investment products may engage in short sales, which are transactions in which a fund sells a security that it does not own (or that it owns but does not intend to deliver) in anticipation that the price of the security will decline. Short sales are recorded in the Condensed Consolidated Balance Sheet within Other liabilities of consolidated sponsored investment products.

New_Accounting_Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2014
Accounting Changes And Error Corrections [Abstract]	'
New Accounting Standards	'
	12. New Accounting Standards
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 provides a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. Companies may use either a full retrospective or a modified retrospective approach. ASU 2014-09 is effective for the first interim period within annual reporting periods beginning after December 15, 2016. Early adoption is prohibited. The Company is currently evaluating the impact ASU 2014-09 is expected to have on its consolidated financial statements.
	In July 2013, FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU 2013-11 provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 is effective for the Company on January 1, 2014. The Company has adopted this standard as of January 1, 2014. The adoption of this standard did not have a material impact on the Company’s financial results.
	In June, 2013, the FASB issued ASU No. 2013-08, Investment Companies: Amendments to the Scope, Measurement and Disclosure Requirements. The new standard clarifies the characteristics of an investment company and provides comprehensive guidance for assessing whether an entity is an investment company. The amendments apply to an entity’s interim and annual reporting periods in fiscal years that begin after December 15, 2013. The Company has adopted this standard as of January 1, 2014. The adoption of this standard did not have a material impact on the Company’s financial results.

New_Accounting_Standards_Polic

New Accounting Standards (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Changes And Error Corrections [Abstract]	'
New Accounting Standards	'
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 provides a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. Companies may use either a full retrospective or a modified retrospective approach. ASU 2014-09 is effective for the first interim period within annual reporting periods beginning after December 15, 2016. Early adoption is prohibited. The Company is currently evaluating the impact ASU 2014-09 is expected to have on its consolidated financial statements.
	In July 2013, FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU 2013-11 provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 is effective for the Company on January 1, 2014. The Company has adopted this standard as of January 1, 2014. The adoption of this standard did not have a material impact on the Company’s financial results.
	In June, 2013, the FASB issued ASU No. 2013-08, Investment Companies: Amendments to the Scope, Measurement and Disclosure Requirements. The new standard clarifies the characteristics of an investment company and provides comprehensive guidance for assessing whether an entity is an investment company. The amendments apply to an entity’s interim and annual reporting periods in fiscal years that begin after December 15, 2013. The Company has adopted this standard as of January 1, 2014. The adoption of this standard did not have a material impact on the Company’s financial results.

Intangible_Assets_Net_Tables

Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Summary of Intangible Assets, Net	'
	Intangible assets, net are summarized as follows:
		June 30,			December 31,
		2014			2013
	($ in thousands)
	Definite-lived intangible assets:
	Investment contracts	$	157,672		$	157,882
	Accumulated amortization		(147,506	)		(145,665	)
	Definite-lived intangible assets, net		10,166			12,217
	Indefinite-lived intangible assets		32,416			32,416
	Total intangible assets, net	$	42,582		$	44,633
Schedule of Activity in Intangible Assets, Net	'
	Activity in intangible assets, net is as follows:
		Six Months Ended June 30,
		2014			2013
	($ in thousands)
	Intangible assets, net
	Balance, beginning of period	$	44,633		$	48,711
	Amortization		(2,051	)		(2,105	)
	Balance, end of period	$	42,582		$	46,606

Investments_Tables

Investments (Tables)	6 Months Ended
	Jun. 30, 2014
Investments Schedule [Abstract]	'
Summary of Investments	'
	The Company’s investments, excluding the assets of consolidated sponsored investment products discussed in Note 11, at June 30, 2014 and December 31, 2013 are as follows:
		June 30,		December 31,
		2014		2013
	($ in thousands)
	Marketable securities	$	56,403	$	28,968
	Equity method investments		4,150		4,070
	Nonqualified retirement plan assets		4,546		4,220
	Total investments	$	65,099	$	37,258
Schedule of Marketable Securities	'
	The Company’s marketable securities consist of both trading and available-for-sale securities. The composition of the Company’s marketable securities is summarized as follows:
	June 30, 2014
		Cost		Unrealized			Unrealized		Fair
				Loss			Gain		Value
	($ in thousands)
	Trading:
	Sponsored funds	$	40,403	$	(453	)	$	4,031	$	43,981
	Equity securities		7,911		—			1,322		9,233
	Available-for-sale:
	Sponsored funds		3,019		(95	)		265		3,189
	Total marketable securities	$	51,333	$	(548	)	$	5,618	$	56,403
	December 31, 2013
		Cost		Unrealized			Unrealized		Fair
				Loss			Gain		Value
	($ in thousands)
	Trading:
	Sponsored funds	$	16,079	$	(704	)	$	2,529	$	17,904
	Equity securities		7,043		—			1,336		8,379
	Available-for-sale:
	Sponsored funds		2,815		(145	)		15		2,685
	Total marketable securities	$	25,937	$	(849	)	$	3,880	$	28,968

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Changes in Assets and Liabilities Measured at Fair Value on Recurring Basis	'
	The Company’s assets and liabilities measured at fair value, excluding the assets and liabilities of consolidated sponsored investment products discussed in Note 11, on a recurring basis as of June 30, 2014 and December 31, 2013 by fair value hierarchy level were as follows:
	June 30, 2014
		Level 1		Level 2		Level 3		Total
	($ in thousands)
	Assets
	Cash equivalents	$	167,586	$	—	$	—	$	167,586
	Marketable securities trading:
	Sponsored funds		43,981		—		—		43,981
	Equity securities		9,233		—		—		9,233
	Marketable securities available for sale:
	Sponsored funds		3,189		—		—		3,189
	Other investments:
	Nonqualified retirement plan assets		4,546		—		—		4,546
	Total assets measured at fair value	$	228,535	$	—	$	—	$	228,535
	December 31, 2013
		Level 1		Level 2		Level 3		Total
	($ in thousands)
	Assets
	Cash equivalents	$	270,262	$	—	$	—	$	270,262
	Marketable securities trading:
	Sponsored funds		17,904		—		—		17,904
	Equity securities		8,379		—		—		8,379
	Marketable securities available for sale:
	Sponsored funds		2,685		—		—		2,685
	Other investments:
	Nonqualified retirement plan assets		4,220		—		—		4,220
	Total assets measured at fair value	$	303,450	$	—	$	—	$	303,450

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Changes in Accumulated Other Comprehensive Income	'
	The changes in accumulated other comprehensive income, by component, for the six months ended June 30, 2014 and 2013 were as follows:
		Unrealized Gains			Foreign Currency
		and (Losses)			Translation
		on Securities			Adjustments
		Available-for-
		Sale
	($ in thousands)
	Balance December 31, 2013	$	(231	)	$	81
	Unrealized net gains on investments, net of tax of ($115)		185			—
	Foreign currency translation adjustments, net of tax of $7		—			13
	Amounts reclassified from accumulated other comprehensive income		—			—
	Net current-period other comprehensive income		185			13
	Balance June 30, 2014	$	(46	)	$	94
	($ in thousands)	Unrealized Gains			Foreign Currency
		and (Losses)			Translation
		on Securities			Adjustments
		Available-for-
		Sale
	Balance December 31, 2012	$	(287	)	$	—
	Unrealized net gains on investments, net of tax of $178		139			—
	Foreign currency translation, net of tax of $11		—			(18	)
	Amounts reclassified from accumulated other comprehensive income		—			—
	Net current-period other comprehensive income		139			(18	)
	Balance June 30, 2013	$	(148	)	$	(18	)

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Summary of Restricted Stock Units Activity	'
	RSU activity for the six months ended June 30, 2014 are summarized as follows:
		Number			Weighted
		of Shares			Average
					Grant Date
					Fair Value
	Outstanding at December 31, 2013		233,763		$	87.97
	Granted		70,302		$	183.98
	Forfeited		(10,966	)	$	132.15
	Settled		(115,084	)	$	60.74
	Outstanding at June 30, 2014		178,015		$	140.77
Summary of Stock Option Activity	'
	Stock option activity for the six months ended June 30, 2014 are summarized as follows:
		Number			Weighted
		of Shares			Average
					Exercise Price
	Outstanding at December 31, 2013		190,160		$	20.11
	Granted		—		$	—
	Exercised		(14,270	)	$	28.33
	Forfeited		—		$	—
	Outstanding at June 30, 2014		175,890		$	19.44

Earnings_per_Share_Tables

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of Computation of Basic and Diluted EPS	'
	The computation of basic and diluted EPS is as follows:
		Three Months Ended June 30,					Six Months Ended June 30,
		2014			2013		2014			2013
	($ in thousands, except per share amounts)
	Net Income	$	19,792		$	14,783	$	41,559		$	28,968
	Noncontrolling interests		(249	)		602		(78	)		377
	Net Income Attributable to Common Stockholders	$	19,543		$	15,385	$	41,481			29,345
	Shares (in thousands):
	Basic: Weighted-average number of shares outstanding		9,133			7,821		9,125			7,821
	Plus: Incremental shares from assumed conversion of dilutive instruments		192			237		218			252
	Diluted: Weighted-average number of shares outstanding		9,325			8,058		9,343			8,073
	Earnings per share - basic	$	2.14		$	1.97	$	4.55		$	3.75
	Earnings per share - diluted	$	2.1		$	1.91	$	4.44		$	3.64
	Cash dividends declared per share	$	0.45		$	—	$	0.45		$	—

Consolidated_Sponsored_Investm1

Consolidated Sponsored Investment Products (Tables)	6 Months Ended
	Jun. 30, 2014
Balances of Consolidated Sponsored Investment Products	'
	The following table presents the balances of the consolidated sponsored investment products that were reflected in the Condensed Consolidated Balance Sheets as of June 30, 2014 and December 31, 2013:
			As of
			June 30,			December 31,
			2014			2013
	($ in thousands)
	Total cash		$	12,319		$	531
	Total investments			207,279			139,054
	All other assets			3,285			9,595
	Total liabilities			(16,011	)		(8,435	)
	Redeemable noncontrolling interests			(10,397	)		(42,186	)
	The Company’s net interests in consolidated sponsored investment products		$	196,475		$	98,559
Condensed Consolidated Balance Sheets	'
	The following tables reflect the impact of the consolidated sponsored investment products in the Condensed Consolidated Balance Sheets as of June, 30, 2014 and December 31, 2013 and the Condensed Consolidated Statements of Income for the three and six months ended June 30, 2014 and 2013, respectively:
	As of June 30, 2014
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Consolidated
						Products						Balance Sheet
	($ in thousands)
	Total cash		$	170,367		$	12,319		$	—		$	182,686
	Total investments			261,414			207,279			(196,315	)		272,378
	All other assets			182,490			3,285			(160	)		185,615
	Total assets		$	614,271		$	222,883		$	(196,475	)	$	640,679
	Total liabilities		$	99,844		$	16,171		$	(160	)	$	115,855
	Redeemable noncontrolling interests			—			—			10,397			10,397
	Equity attributable to stockholders of the Company			514,529			206,712			(206,712	)		514,529
	Non-redeemable noncontrolling interests			(102	)		—			—			(102	)
	Total liabilities and equity		$	614,271		$	222,883		$	(196,475	)	$	640,679
	As of December 31, 2013
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Consolidated
						Products						Balance Sheet
	($ in thousands)
	Total cash		$	271,014		$	531		$	—		$	271,545
	Total investments			135,692			139,054			(98,434	)		176,312
	All other assets			187,627			9,595			(125	)		197,097
	Total assets		$	594,333		$	149,180		$	(98,559	)	$	644,954
	Total liabilities		$	101,465		$	8,560		$	(125	)	$	109,900
	Redeemable noncontrolling interests			—			—			42,186			42,186
	Equity attributable to stockholders of the Company			492,930			140,620			(140,620	)		492,930
	Non-redeemable noncontrolling interests			(62	)		—			—			(62	)
	Total liabilities and equity		$	594,333		$	149,180		$	(98,559	)	$	644,954
	(a)	Adjustments include the elimination of intercompany transactions between the Company and its consolidated sponsored investment products, primarily the elimination of the investments and equity and recording of any noncontrolling interest.
Condensed Consolidated Statement of Operations	'
	The following table reflects the impact of the consolidated sponsored investment products in the Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2014 and 2013:
	For the Three Months Ended June 30, 2014
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Condensed
						Products						Consolidated
												Statement of
												Operations
	($ in thousands)
	Total operating revenues		$	112,871		$	—		$	(122	)	$	112,749
	Total operating expenses			89,450			919			(122	)		90,247
	Operating income (loss)			23,421			(919	)		—			22,502
	Total other non-operating income			8,198			8,082			(6,884	)		9,396
	Income before income tax expense			31,619			7,163			(6,884	)		31,898
	Income tax expense			12,106			—			—			12,106
	Net income			19,513			7,163			(6,884	)		19,792
	Noncontrolling interests			30			—			(279	)		(249	)
	Net income attributable to the Company		$	19,543		$	7,163		$	(7,163	)	$	19,543
	For the Three Months Ended June 30, 2013
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Investment			and			Reported in
			Investment			Products			Adjustments (a)			Condensed
			Products									Consolidated
												Statement of
												Operations
	($ in thousands)
	Total operating revenues		$	96,135		$	—		$	5		$	96,140
	Total operating expenses			69,125			128			5			69,258
	Operating income (loss)			27,010			(128	)		—			26,882
	Total other non-operating (expense) income			(2,321	)		(2,543	)		2,083			(2,781	)
	Income (loss) before income tax expense			24,689			(2,671	)		2,083			24,101
	Income tax expense			9,318			—			—			9,318
	Net income (loss)			15,371			(2,671	)		2,083			14,783
	Noncontrolling interests			14			—			588			602
	Net income (loss) attributable to the Company		$	15,385		$	(2,671	)	$	2,671		$	15,385
	For the Six Months Ended June 30, 2014
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Condensed
						Products						Consolidated
												Statement of
												Operations
	($ in thousands)
	Total operating revenues		$	220,726		$	—		$	(106	)	$	220,620
	Total operating expenses			164,364			1,234			(106	)		165,492
	Operating income (loss)			56,362			(1,234	)		—			55,128
	Total other non-operating income			11,195			8,992			(7,640	)		12,547
	Income before income tax expense			67,557			7,758			(7,640	)		67,675
	Income tax expense			26,116			—			—			26,116
	Net income			41,441			7,758			(7,640	)		41,559
	Noncontrolling interests			40			—			(118	)		(78	)
	Net income attributable to the Company		$	41,481		$	7,758		$	(7,758	)	$	41,481
	For the Six Months Ended June 30, 2013
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Investment			and			Reported in
			Investment			Products			Adjustments (a)			Condensed
			Products									Consolidated
												Statement of
												Operations
	($ in thousands)
	Total operating revenues		$	182,256		$	—		$	52		$	182,308
	Total operating expenses			134,010			264			52			134,326
	Operating income (loss)			48,246			(264	)		—			47,982
Total other non-operating expense			(1,165	)		(1,691	)		1,610			(1,246	)
Income (loss) before income tax expense			47,081			(1,955	)		1,610			46,736
Income tax expense			17,768			—			—			17,768
Net income (loss)			29,313			(1,955	)		1,610			28,968
Noncontrolling interests			32			—			345			377
Net income (loss) attributable to the Company		$	29,345		$	(1,955	)	$	1,955		$	29,345
(a)	Adjustments include the elimination of intercompany transactions between the Company and its consolidated sponsored investment products, primarily the elimination of the investments and equity and recording of any noncontrolling interest.
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	'
	The assets and liabilities of the consolidated sponsored investment products measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013 by fair value hierarchy level were as follows:
	June 30, 2014
			Level 1			Level 2			Level 3			Total
	($ in thousands)
	Assets
	Debt securities		$	—		$	112,333		$	450		$	112,783
	Equity securities			93,332			1,164			—			94,496
	Derivatives			15			31			—			46
	Total Assets Measured at Fair Value		$	93,347		$	113,528		$	450		$	207,325
	Liabilities
	Short sales		$	9,024		$	2,020		$	—		$	11,044
	December 31, 2013
			Level 1			Level 2			Level 3			Total
	($ in thousands)
	Assets
	Debt securities		$	—		$	47,114		$	—		$	47,114
	Equity securities			91,940			—			—			91,940
	Total Assets Measured at Fair Value		$	91,940		$	47,114		$	—		$	139,054
Consolidated Sponsored Investment Products [Member]	'
Reconciliation of Assets Related to Consolidated Sponsored Investment Products	'
	The following table is a reconciliation of assets of consolidated sponsored investment products for Level 3 investments for which significant unobservable inputs were used to determine fair value.
			Debt
			securities (a)
	Balance at December 31, 2013		$	—
	Purchases			450
	Balance at June 30, 2014		$	450
	(a)	None of the securities in the above table are internally fair valued at June 30, 2014.

Intangible_Assets_Net_Summary_

Intangible Assets, Net - Summary of Intangible Assets, Net (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Definite-lived intangible assets:	'	'	'	'
Investment contracts	$157,672	$157,882	'	'
Accumulated amortization	-147,506	-145,665	'	'
Definite-lived intangible assets, net	10,166	12,217	'	'
Indefinite-lived intangible assets	32,416	32,416	'	'
Total intangible assets, net	$42,582	$44,633	$46,606	$48,711

Intangible_Assets_Net_Schedule

Intangible Assets, Net - Schedule of Activity in Intangible Assets, Net (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Goodwill And Intangible Assets Disclosure [Abstract]	'	'
Intangible assets, net, beginning of period	$44,633	$48,711
Amortization	-2,051	-2,105
Intangible assets, net, end of period	$42,582	$46,606

Investments_Summary_of_Investm

Investments - Summary of Investments (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investments Schedule [Abstract]	'	'
Marketable securities	$56,403	$28,968
Equity method investments	4,150	4,070
Nonqualified retirement plan assets	4,546	4,220
Total investments	$65,099	$37,258

Investments_Schedule_of_Market

Investments - Schedule of Marketable Securities (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Marketable Securities [Abstract]	'	'
Cost	$51,333	$25,937
Unrealized Loss	-548	-849
Unrealized Gain	5,618	3,880
Fair Value	56,403	28,968
Sponsored Funds [Member]	'	'
Marketable Securities [Abstract]	'	'
Cost	40,403	16,079
Unrealized Loss	-453	-704
Unrealized Gain	4,031	2,529
Fair Value	43,981	17,904
Cost	3,019	2,815
Unrealized Loss	-95	-145
Unrealized Gain	265	15
Fair Value	3,189	2,685
Equity Securities [Member]	'	'
Marketable Securities [Abstract]	'	'
Cost	7,911	7,043
Unrealized Loss	0	0
Unrealized Gain	1,322	1,336
Fair Value	$9,233	$8,379

Investments_Additional_Informa

Investments - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Investments Schedule [Abstract]	'	'	'	'
Realized gains on trading securities	$3.60	$0.20	$4.50	$0.30

Fair_Value_Measurements_Change

Fair Value Measurements - Changes in Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Cash equivalents	$167,586	$270,262
Other investments, nonqualified retirement plan assets	4,546	4,220
Total assets measured at fair value	228,535	303,450
Sponsored Funds [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Marketable securities trading	43,981	17,904
Marketable securities available for sale	3,189	2,685
Equity Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Marketable securities trading	9,233	8,379
Nonqualified Retirement Plan Assets [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Other investments, nonqualified retirement plan assets	4,546	4,220
Level 1 [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Cash equivalents	167,586	270,262
Total assets measured at fair value	228,535	303,450
Level 1 [Member] | Sponsored Funds [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Marketable securities trading	43,981	17,904
Marketable securities available for sale	3,189	2,685
Level 1 [Member] | Equity Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Marketable securities trading	9,233	8,379
Level 1 [Member] | Nonqualified Retirement Plan Assets [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Other investments, nonqualified retirement plan assets	4,546	4,220
Level 2 [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Cash equivalents	0	'
Total assets measured at fair value	0	'
Level 2 [Member] | Sponsored Funds [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Marketable securities trading	0	'
Marketable securities available for sale	0	'
Level 2 [Member] | Equity Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Marketable securities trading	0	'
Level 2 [Member] | Nonqualified Retirement Plan Assets [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Other investments, nonqualified retirement plan assets	0	'
Level 3 [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Cash equivalents	0	'
Total assets measured at fair value	0	'
Level 3 [Member] | Sponsored Funds [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Marketable securities trading	0	'
Marketable securities available for sale	0	'
Level 3 [Member] | Equity Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Marketable securities trading	0	'
Level 3 [Member] | Nonqualified Retirement Plan Assets [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Other investments, nonqualified retirement plan assets	$0	'

Treasury_Stock_and_Dividends_A

Treasury Stock and Dividends - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended		6 Months Ended		43 Months Ended
	15-May-14	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Equity [Abstract]	'	'	'	'	'	'
Treasury stock, shares acquired	'	'	'	66,913	80,000	416,913
Weighted average purchase price per share	'	'	'	$186.77	$187.03	$119.74
Total cost of treasury shares acquired	'	'	'	$12,500,000	$15,000,000	$49,900,000
Common stock remaining authorized for repurchase	'	283,087	'	283,087	'	283,087
Cash dividends declared per share	$0.45	$0.45	$0	$0.45	$0	'
Dividend, record date	'	'	'	31-Jul-14	'	'
Dividend, to be paid date	'	'	'	14-Aug-14	'	'
Dividends payable	'	$4,179,000	$0	$4,179,000	$0	$4,179,000

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Beginning Balance	'	'	($150)	'
Other comprehensive income (loss) before reclassifications, net of tax	122	-94	185	139
Other comprehensive income (loss) before reclassifications, foreign currency translation adjustments, net of tax	-11	-18	13	-18
Other comprehensive income (loss)	111	-112	198	121
Ending Balance	48	'	48	'
Unrealized Gains and (Losses) on Securities Available-for-Sale [Member]	'	'	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Beginning Balance	'	'	-231	-287
Other comprehensive income (loss) before reclassifications, net of tax	'	'	185	139
Other comprehensive income (loss) before reclassifications, foreign currency translation adjustments, net of tax	'	'	0	0
Amounts reclassified from accumulated other comprehensive income	'	'	0	0
Other comprehensive income (loss)	'	'	185	139
Ending Balance	-46	-148	-46	-148
Foreign Currency Translation Adjustments [Member]	'	'	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Beginning Balance	'	'	81	0
Other comprehensive income (loss) before reclassifications, net of tax	'	'	0	0
Other comprehensive income (loss) before reclassifications, foreign currency translation adjustments, net of tax	'	'	13	-18
Amounts reclassified from accumulated other comprehensive income	'	'	0	0
Other comprehensive income (loss)	'	'	13	-18
Ending Balance	$94	($18)	$94	($18)

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income (Parenthetical) (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Other comprehensive income (loss) before reclassifications, tax	($75)	$57	($115)	$178
Other comprehensive income (loss) before reclassifications, tax	8	11	-7	11
Unrealized Gains and (Losses) on Securities Available-for-Sale [Member]	'	'	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Other comprehensive income (loss) before reclassifications, tax	'	'	-115	178
Foreign Currency Translation Adjustments [Member]	'	'	'	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Other comprehensive income (loss) before reclassifications, tax	'	'	$7	$11

Stockbased_Compensation_Additi

Stock-based Compensation - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Shares of common stock available for issuance	433,130	'	433,130	'
Shares of common stock reserved for issuance	1,800,000	'	1,800,000	'
Vesting period of stock options in years	'	'	'3 years	'
Taxes paid related to net share settlement of restricted stock units	'	'	$9,271,000	$7,172,000
Restricted Stock Units (RSUs) [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
RSUs paid to settle tax withholding obligations	'	'	49,819	36,427
Taxes paid related to net share settlement of restricted stock units	'	'	9,300,000	7,200,000
Unamortized stock-based compensation expense	16,300,000	13,300,000	16,300,000	13,300,000
Weighted-average remaining amortization period	'	'	'1 year 7 months 6 days	'1 year 6 months
Restricted Stock Units (RSUs) [Member] | Minimum [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Contractual life in years	'	'	'1 year	'
Restricted Stock Units (RSUs) [Member] | Maximum [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Contractual life in years	'	'	'3 years	'
Stock Options [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Contractual life in years	'	'	'10 years	'
Recognized stock-based compensation expense	2,900,000	2,600,000	4,500,000	4,000,000
Unamortized stock-based compensation expense	$0	$100,000	$0	$100,000
Weighted-average remaining amortization period	'	'	'	'7 months 6 days

Stockbased_Compensation_Summar

Stock-based Compensation - Summary of Restricted Stock Units Activity (Detail) (Restricted Stock Units [Member], USD $)	6 Months Ended
	Jun. 30, 2014
Restricted Stock Units [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Number of Shares, Beginning Balance	233,763
Number of Shares, Granted	70,302
Number of Shares, Forfeited	-10,966
Number of Shares, Settled	-115,084
Number of Shares, Ending Balance	178,015
Weighted Average Grant Date Fair Value, Beginning Balance	$87.97
Weighted Average Grant Date Fair Value, Granted	$183.98
Weighted Average Grant Date Fair Value, Forfeited	$132.15
Weighted Average Grant Date Fair Value, Settled	$60.74
Weighted Average Grant Date Fair Value, Ending Balance	$140.77

Stockbased_Compensation_Summar1

Stock-based Compensation - Summary of Stock Option Activity (Detail) (USD $)	6 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Number of Shares, Beginning Balance	190,160
Number of Shares, Granted	0
Number of Shares, Exercised	-14,270
Number of Shares, Forfeited	0
Number of Shares, Ending Balance	175,890
Weighted Average Exercise Price, Beginning Balance	$20.11
Weighted Average Exercise Price, Granted	$0
Weighted Average Exercise Price, Exercised	$28.33
Weighted Average Exercise Price, Forfeited	$0
Weighted Average Exercise Price, Ending Balance	$19.44

Earnings_per_Share_Schedule_of

Earnings per Share - Schedule of Computation of Basic and Diluted EPS (Detail) (USD $)	0 Months Ended	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	15-May-14	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'	'
Net Income	'	$19,792	$14,783	$41,559	$28,968
Noncontrolling interests	'	-249	602	-78	377
Net Income Attributable to Common Stockholders	'	$19,543	$15,385	$41,481	$29,345
Shares:	'	'	'	'	'
Basic: Weighted-average number of shares outstanding	'	9,133	7,821	9,125	7,821
Plus: Incremental shares from assumed conversion of dilutive instruments	'	192	237	218	252
Diluted: Weighted-average number of shares outstanding	'	9,325	8,058	9,343	8,073
Earnings per share - basic	'	$2.14	$1.97	$4.55	$3.75
Earnings per share - diluted	'	$2.10	$1.91	$4.44	$3.64
Cash dividends declared per share	$0.45	$0.45	$0	$0.45	$0

Earnings_per_Share_Additional_

Earnings per Share - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013
Earnings Per Share [Abstract]	'	'	'
Number of anti-dilutive instruments excluded from computation of weighted-average shares for diluted earnings per share	9,275	0	0

Consolidated_Sponsored_Investm2

Consolidated Sponsored Investment Products - Additional Information (Detail) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013
	Funds	Funds	Funds
Investments [Abstract]	'	'	'	'
Number of consolidated sponsored investment products	11	11	8	'
Number of additional consolidated sponsored investment product	'	4	'	'
Number of deconsolidated sponsored investment product	'	1	'	'
Changes in market value of investments	$0	$0	'	'
Fair value, equity, Level 1 to Level 2 transfers, amount	$0	$0	'	$0

Consolidated_Sponsored_Investm3

Consolidated Sponsored Investment Products - Balances of Consolidated Sponsored Investment Products (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Total cash	$12,319	$531
Total investments	207,279	139,054
All other assets	3,285	9,595
Total liabilities	-16,011	-8,435
Redeemable noncontrolling interests	-10,397	-42,186
Company's net interests in consolidated sponsored investment products	$196,475	$98,559

Consolidated_Sponsored_Investm4

Consolidated Sponsored Investment Products - Condensed Consolidated Balance Sheets (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Condensed Financial Statements, Captions [Line Items]	'	'
Total cash	$170,367	$271,014
Total investments	65,099	37,258
All other assets	15,584	15,724
Total assets	640,679	644,954
Total liabilities	115,855	109,900
Redeemable noncontrolling interests	10,397	42,186
Equity attributable to stockholders of the Company	514,529	492,930
Non-redeemable noncontrolling interests	-102	-62
Total liabilities and equity	640,679	644,954
Balances as Reported in Consolidated Balance Sheet [Member]	'	'
Condensed Financial Statements, Captions [Line Items]	'	'
Total cash	182,686	271,545
Total investments	272,378	176,312
All other assets	185,615	197,097
Total assets	640,679	644,954
Total liabilities	115,855	109,900
Redeemable noncontrolling interests	10,397	42,186
Equity attributable to stockholders of the Company	514,529	492,930
Non-redeemable noncontrolling interests	-102	-62
Total liabilities and equity	640,679	644,954
Reportable Legal Entities [Member] | Balance Before Consolidation of Investment Products [Member]	'	'
Condensed Financial Statements, Captions [Line Items]	'	'
Total cash	170,367	271,014
Total investments	261,414	135,692
All other assets	182,490	187,627
Total assets	614,271	594,333
Total liabilities	99,844	101,465
Redeemable noncontrolling interests	0	'
Equity attributable to stockholders of the Company	514,529	492,930
Non-redeemable noncontrolling interests	-102	-62
Total liabilities and equity	614,271	594,333
Reportable Legal Entities [Member] | Consolidated Sponsored Investment Products [Member]	'	'
Condensed Financial Statements, Captions [Line Items]	'	'
Total cash	12,319	531
Total investments	207,279	139,054
All other assets	3,285	9,595
Total assets	222,883	149,180
Total liabilities	16,171	8,560
Redeemable noncontrolling interests	0	'
Equity attributable to stockholders of the Company	206,712	140,620
Non-redeemable noncontrolling interests	0	'
Total liabilities and equity	222,883	149,180
Eliminations and Adjustments [Member]	'	'
Condensed Financial Statements, Captions [Line Items]	'	'
Total cash	0	'
Total investments	-196,315	-98,434
All other assets	-160	-125
Total assets	-196,475	-98,559
Total liabilities	-160	-125
Redeemable noncontrolling interests	10,397	42,186
Equity attributable to stockholders of the Company	-206,712	-140,620
Non-redeemable noncontrolling interests	0	'
Total liabilities and equity	($196,475)	($98,559)

Consolidated_Sponsored_Investm5

Consolidated Sponsored Investment Products - Condensed Consolidated Statement of Operations (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Condensed Income Statements, Captions [Line Items]	'	'	'	'
Total operating revenues	$112,749	$96,140	$220,620	$182,308
Total operating expenses	90,247	69,258	165,492	134,326
Operating income (loss)	22,502	26,882	55,128	47,982
Total other non-operating income (expense)	9,396	-2,781	12,547	-1,246
Income Before Income Taxes	31,898	24,101	67,675	46,736
Income tax expense	12,106	9,318	26,116	17,768
Net income (loss)	19,792	14,783	41,559	28,968
Noncontrolling interests	-249	602	-78	377
Net income (loss) attributable to the Company	19,543	15,385	41,481	29,345
Reportable Legal Entities [Member] | Balance Before Consolidation of Investment Products [Member]	'	'	'	'
Condensed Income Statements, Captions [Line Items]	'	'	'	'
Total operating revenues	112,871	96,135	220,726	182,256
Total operating expenses	89,450	69,125	164,364	134,010
Operating income (loss)	23,421	27,010	56,362	48,246
Total other non-operating income (expense)	8,198	-2,321	11,195	-1,165
Income Before Income Taxes	31,619	24,689	67,557	47,081
Income tax expense	12,106	9,318	26,116	17,768
Net income (loss)	19,513	15,371	41,441	29,313
Noncontrolling interests	30	14	40	32
Net income (loss) attributable to the Company	19,543	15,385	41,481	29,345
Reportable Legal Entities [Member] | Consolidated Sponsored Investment Products [Member]	'	'	'	'
Condensed Income Statements, Captions [Line Items]	'	'	'	'
Total operating revenues	0	'	0	'
Total operating expenses	919	128	1,234	264
Operating income (loss)	-919	-128	-1,234	-264
Total other non-operating income (expense)	8,082	-2,543	8,992	-1,691
Income Before Income Taxes	7,163	-2,671	7,758	-1,955
Income tax expense	0	'	0	'
Net income (loss)	7,163	-2,671	7,758	-1,955
Noncontrolling interests	0	'	0	'
Net income (loss) attributable to the Company	7,163	-2,671	7,758	-1,955
Eliminations and Adjustments [Member]	'	'	'	'
Condensed Income Statements, Captions [Line Items]	'	'	'	'
Total operating revenues	-122	5	-106	52
Total operating expenses	-122	5	-106	52
Operating income (loss)	0	'	0	'
Total other non-operating income (expense)	-6,884	2,083	-7,640	1,610
Income Before Income Taxes	-6,884	2,083	-7,640	1,610
Income tax expense	0	'	0	'
Net income (loss)	-6,884	2,083	-7,640	1,610
Noncontrolling interests	-279	588	-118	345
Net income (loss) attributable to the Company	($7,163)	$2,671	($7,758)	$1,955

Consolidated_Sponsored_Investm6

Consolidated Sponsored Investment Products - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	$207,279	$139,054
Debt Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	112,783	47,114
Equity Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	94,496	91,940
Derivatives [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	46	'
Short Sales [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	11,044	'
Level 1 [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	93,347	91,940
Level 1 [Member] | Debt Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	0	'
Level 1 [Member] | Equity Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	93,332	91,940
Level 1 [Member] | Derivatives [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	15	'
Level 1 [Member] | Short Sales [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	9,024	'
Level 2 [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	113,528	47,114
Level 2 [Member] | Debt Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	112,333	47,114
Level 2 [Member] | Equity Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	1,164	'
Level 2 [Member] | Derivatives [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	31	'
Level 2 [Member] | Short Sales [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	2,020	'
Level 3 [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	450	'
Level 3 [Member] | Debt Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	450	'
Level 3 [Member] | Equity Securities [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	0	'
Level 3 [Member] | Derivatives [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	0	'
Level 3 [Member] | Short Sales [Member]	'	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'	'
Total Investments of Consolidated Sponsored Investment Products at Fair Value	$0	'

Consolidated_Sponsored_Investm7

Consolidated Sponsored Investment Products - Reconciliation of Assets Related to Consolidated Sponsored Investment Products (Detail) (Debt Securities [Member], USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Debt Securities [Member]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Beginning balance	$0
Purchases	450
Ending balance	$450