Virtus Investment Partners (VRTS) 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 21, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	VRTS
Entity Registrant Name	VIRTUS INVESTMENT PARTNERS, INC.
Entity Central Index Key	883237
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		8,911,866

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Assets:
Cash and cash equivalents	$166,031	$202,847
Cash of consolidated sponsored investment products	2,058	457
Cash pledged or on deposit of consolidated sponsored investment products	9,554	8,230
Investments	56,995	63,448
Investments of consolidated sponsored investment products	254,481	236,652
Accounts receivable, net	52,792	49,721
Furniture, equipment, and leasehold improvements, net	8,578	7,193
Intangible assets, net	40,946	41,783
Goodwill	5,260	5,260
Deferred taxes, net	57,958	60,162
Other assets	17,092	16,060
Other assets of consolidated sponsored investment products	8,629	6,960
Total assets	680,374	698,773
Liabilities:
Accrued compensation and benefits	17,343	54,815
Accounts payable and accrued liabilities	32,627	31,627
Dividends payable	4,236	4,270
Other liabilities	9,556	9,082
Liabilities of consolidated sponsored investment products	16,491	12,556
Total liabilities	80,253	112,350
Commitments and Contingencies (Note 11)
Redeemable noncontrolling interests	34,977	23,071
Equity attributable to stockholders:
Common stock, $0.01 par value, 1,000,000,000 shares authorized; 9,591,125 shares issued and 8,911,866 shares outstanding at March 31, 2015 and 9,551,274 shares issued and 8,975,833 shares outstanding at December 31, 2014	96	96
Additional paid-in capital	1,145,659	1,148,908
Accumulated deficit	-488,179	-507,521
Accumulated other comprehensive loss	-509	-242
Treasury stock, at cost, 679,259 and 575,441 shares at March 31, 2015 and December 31, 2014, respectively	-91,699	-77,699
Total equity attributable to stockholders	565,368	563,542
Noncontrolling interests	-224	-190
Total equity	565,144	563,352
Total liabilities and equity	$680,374	$698,773

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
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	9,591,125	9,551,274
Common stock, shares outstanding	8,911,866	8,975,833
Treasury stock, shares	679,259	575,441

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues
Investment management fees	$70,496	$71,792
Distribution and service fees	19,598	22,438
Administration and transfer agent fees	13,042	13,073
Other income and fees	695	568
Total revenues	103,831	107,871
Operating Expenses
Employment expenses	35,622	35,029
Distribution and administration expenses	24,507	27,737
Other operating expenses	16,726	10,534
Other operating expenses of consolidated sponsored investment products	818	331
Depreciation and other amortization	779	657
Amortization expense	837	957
Total operating expenses	79,289	75,245
Operating Income	24,542	32,626
Other Income (Expense)
Realized and unrealized gain on investments, net	545	1,846
Realized and unrealized gain on investments of consolidated sponsored investment products, net	2,590	36
Other income, net	435	151
Total other income, net	3,570	2,033
Interest Income (Expense)
Interest expense	-123	-138
Interest and dividend income	280	383
Interest and dividend income of investments of consolidated sponsored investment products	2,324	873
Total interest income, net	2,481	1,118
Income Before Income Taxes	30,593	35,777
Income tax expense	10,868	14,010
Net Income	19,725	21,767
Noncontrolling interests	-383	171
Net Income Attributable to Common Stockholders	$19,342	$21,938
Earnings per share-Basic	$2.16	$2.41
Earnings per share-Diluted	$2.11	$2.34
Cash dividends declared per share	$0.45
Weighted Average Shares Outstanding-Basic (in thousands)	8,964	9,116
Weighted Average Shares Outstanding-Diluted (in thousands)	9,151	9,361

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net Income	$19,725	$21,767
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax of $165 and ($15) for the three months ended March 31,2015 and 2014, respectively	-271	24
Unrealized gains on available-for-sale securities, net of tax of ($1) and $($40) for the three months ended March 31, 2015 and 2014, respectively	4	63
Other comprehensive (loss) income	-267	87
Comprehensive income	19,458	21,854
Comprehensive (income) loss attributable to noncontrolling interests	-383	171
Comprehensive income attributable to common stockholders	$19,075	$22,025

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$165	($15)
Unrealized gains on available-for-sale securities, tax	($1)	($40)

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities:
Net Income	$19,725	$21,767
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation expense, intangible asset and other amortization	1,671	1,675
Stock-based compensation	3,063	1,629
Excess tax benefits from stock-based compensation	-1,314	-263
Amortization of deferred commissions	3,064	4,794
Payments of deferred commissions	-1,168	-4,559
Equity in earnings of equity method investments	-425	-134
Realized and unrealized gains on trading securities, net	-545	-1,846
Realized and unrealized gains on investments of consolidated sponsored investment products, net	-1,659	-36
Sales (purchases) of trading securities, net	8,710	-18,223
Purchases of investments by consolidated sponsored investment products, net	-19,550	-12,481
Sales of securities sold short by consolidated sponsored investment products, net	1,533
Deferred taxes, net	2,368	7,925
Changes in operating assets and liabilities:
Cash pledged or on deposit of consolidated sponsored investment products	-2,245
Accounts receivable, net and other assets	-6,054	-4,833
Other assets of consolidated sponsored investment products	137	6,480
Accrued compensation and benefits, accounts payable, accrued liabilities and other liabilities	-35,020	-31,052
Liabilities of consolidated sponsored investment products	2,857	-4,074
Net cash used in operating activities	-24,852	-33,231
Cash Flows from Investing Activities:
Capital expenditures	-1,397	-439
Change in cash and cash equivalents of consolidated sponsored investment products due to deconsolidation		-366
Purchases of available-for-sale securities	-43	-53
Net cash used in investing activities	-1,440	-858
Cash Flows from Financing Activities:
Borrowings of proceeds from short sales by consolidated sponsored investment products	921
Dividends paid	-4,129
Repurchases of common shares	-14,000
Proceeds from exercise of stock options	54	105
Taxes paid related to net share settlement of restricted stock units	-4,122	-7,401
Excess tax benefits from stock-based compensation	1,314	263
Contributions of noncontrolling interests, net	11,039	6,915
Net cash used in financing activities	-8,923	-118
Net decrease in cash and cash equivalents	-35,215	-34,207
Cash and cash equivalents, beginning of period	203,304	271,545
Cash and Cash Equivalents, end of period	168,089	237,338
Non-Cash Investing Activities:
Accrual for capital expenditures	458	99
Non-Cash Financing Activities:
Increase (decrease) to noncontrolling interest due to consolidation (deconsolidation) of consolidated sponsored investment products, net	450	-45,075
Dividends payable	$4,095

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 Shareholders [Member]	Non-controlling Interests [Member]	Redeemable Non-controlling Interests [Member]
In Thousands, except Share data
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				350,000
Net income (loss)	21,928			21,938			21,938	-10	-161
Net unrealized gains on securities available-for-sale	63				63		63
Foreign currency translation adjustments	24				24		24
Activity of noncontrolling interests, net									-38,158
Issuance of common stock related to employee stock transactions	105		105				105
Issuance of common stock related to employee stock transactions, Shares		57,619
Taxes paid on stock-based compensation	-7,401		-7,401				-7,401
Stock-based compensation	2,246		2,246				2,246
Excess tax benefits from stock-based compensation	263		263				263
Ending Balance at Mar. 31, 2014	510,096	95	1,130,857	-583,283	-63	-37,438	510,168	-72	3,867
Balance, Shares at Mar. 31, 2014		9,163,140				350,000
Beginning Balance at Dec. 31, 2014	563,352	96	1,148,908	-507,521	-242	-77,699	563,542	-190	23,071
Balance, Shares at Dec. 31, 2014	8,975,833	8,975,833				575,441
Net income (loss)	19,308			19,342			19,342	-34	417
Net unrealized gains on securities available-for-sale	4				4		4
Foreign currency translation adjustments	-271				-271		-271
Activity of noncontrolling interests, net									11,489
Cash dividends declared ($0.45 per common share)	-4,095		-4,095				-4,095
Repurchases of common shares	-14,000					-14,000	-14,000
Repurchases of common shares, Shares	103,818	-103,818				103,818
Issuance of common stock related to employee stock transactions	54		54				54
Issuance of common stock related to employee stock transactions, Shares		39,851
Taxes paid on stock-based compensation	-4,122		-4,122				-4,122
Stock-based compensation	3,784		3,784				3,784
Excess tax benefits from stock-based compensation	1,130		1,130				1,130
Ending Balance at Mar. 31, 2015	$565,144	$96	$1,145,659	($488,179)	($509)	($91,699)	$565,368	($224)	$34,977
Balance, Shares at Mar. 31, 2015	8,911,866	8,911,866				679,259

Condensed_Consolidated_Stateme5

Condensed Consolidated Statements of Changes in Equity (Parenthetical) (USD $)	0 Months Ended	3 Months Ended
	Feb. 18, 2015	Mar. 31, 2015
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share	$0.45	$0.45

Organization_and_Business

Organization and Business	3 Months Ended
	Mar. 31, 2015
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 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, endowments and subadvisory accounts.

Basis_of_Presentation_and_Sign

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
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 a fair statement of the Company’s financial condition and results of operations. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
	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. Intercompany accounts and transactions have been eliminated. 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 12 for additional information related to the consolidation of sponsored investment products. 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 the 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 of the equity holders. If any entity has any of these characteristics, it is considered a VIE and is 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, 2014 filed with the Securities and Exchange Commission. The Company’s significant accounting policies, which have been consistently applied, are summarized in the 2014 Annual Report on Form 10-K.

Intangible_Assets_Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	3. Intangible Assets, Net
	Intangible assets, net are summarized as follows:
		March 31,			December 31,
		2015			2014
	($ in thousands)
	Definite-lived intangible assets:
	Investment contracts	$	158,747		$	158,747
	Accumulated amortization		(150,217	)		(149,380	)
	Definite-lived intangible assets, net		8,530			9,367
	Indefinite-lived intangible assets		32,416			32,416
	Total intangible assets, net	$	40,946		$	41,783
	Activity in intangible assets, net is as follows:
		Three Months Ended March 31,
		2015			2014
	($ in thousands)
	Intangible assets, net
	Balance, beginning of period	$	41,783		$	44,633
	Amortization		(837	)		(1,105	)
	Balance, end of period	$	40,946		$	43,528

Investments

Investments	3 Months Ended
	Mar. 31, 2015
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 12, at March 31, 2015 and December 31, 2014 were as follows:
		March 31,		December 31,
		2015		2014
	($ in thousands)
	Marketable securities	$	43,703	$	50,251
	Equity method investments		7,199		7,209
	Nonqualified retirement plan assets		5,168		5,063
	Other investments		925		925
	Total investments	$	56,995	$	63,448
	Marketable Securities
	The Company’s marketable securities consist of both trading (including securities held by a broker-dealer affiliate) and available-for-sale securities. The composition of the Company’s marketable securities is summarized as follows:
	March 31, 2015
		Cost		Unrealized			Unrealized		Fair
				Loss			Gain		Value
	($ in thousands)
	Trading:
	Sponsored funds	$	31,365	$	(844	)	$	690	$	31,211
	Equity securities		9,064		—			179		9,243
	Available-for-sale:
	Sponsored closed-end funds		3,173		(161	)		237		3,249
	Total marketable securities	$	43,602	$	(1,005	)	$	1,106	$	43,703
	December 31, 2014
		Cost		Unrealized			Unrealized		Fair
				Loss			Gain		Value
	($ in thousands)
	Trading:
	Sponsored funds	$	39,079	$	(1,190	)	$	423	$	38,312
	Equity securities		8,421		—			319		8,740
	Available-for-sale:
	Sponsored closed-end funds		3,129		(163	)		233		3,199
	Total marketable securities	$	50,629	$	(1,353	)	$	975	$	50,251
	For the three months ended March 31, 2015 and 2014, the Company recognized a realized gain of $0.4 million and $0.9 million, respectively, on trading securities.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements
	The Company’s assets and liabilities measured at fair value on a recurring basis, excluding the assets and liabilities of consolidated sponsored investment products discussed in Note 12, as of March 31, 2015 and December 31, 2014 by fair value hierarchy level were as follows:
	March 31, 2015
		Level 1		Level 2		Level 3		Total
	($ in thousands)
	Assets
	Cash equivalents	$	123,565	$	—	$	—	$	123,565
	Marketable securities trading:
	Sponsored funds		31,211		—		—		31,211
	Equity securities		9,243		—		—		9,243
	Marketable securities available for sale:
	Sponsored closed-end funds		3,249		—		—		3,249
	Other investments:
	Nonqualified retirement plan assets		5,168		—		—		5,168
	Total assets measured at fair value	$	172,436	$	—	$	—	$	172,436
	December 31, 2014
		Level 1		Level 2		Level 3		Total
	($ in thousands)
	Assets
	Cash equivalents	$	202,054	$	—	$	—	$	202,054
	Marketable securities trading:
	Sponsored funds		38,312		—		—		38,312
	Equity securities		8,740		—		—		8,740
	Marketable securities available for sale:
	Sponsored closed-end funds		3,199		—		—		3,199
	Other investments
	Nonqualified retirement plan assets		5,063		—		—		5,063
	Total assets measured at fair value	$	257,368	$	—	$	—	$	257,368
	The following is a discussion of the valuation methodologies used for the Company’s assets measured at fair value.
	Cash equivalents represent investments in money market funds. Cash investments in actively traded money market funds are valued using published net asset values and are classified as Level 1.
	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, 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 used for the fair value measurement, including market inputs or performance attributes, 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 no longer represents fair value. There were no transfers between Level 1 and Level 2 during the three months ended March 31, 2015 and 2014.

Equity_Transactions

Equity Transactions	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Equity Transactions	6. Equity Transactions
	During the three months ended March 31, 2015, the Company repurchased 103,818 common shares, at a weighted average price of $134.81 for a total cost of $14.0 million. The Company has repurchased a total of 679,259 shares of common stock at a weighted average price of $134.96 per share for a total cost of $91.7 million under its share repurchase program. At March 31, 2015, there were 520,741 shares of common stock available for repurchase under the Company’s share repurchase program.
	On February 18, 2015, the Company declared a quarterly cash dividend of $0.45 per common share to be paid on May 13, 2015 to shareholders of record at the close of business on April 30, 2015. The total dividend to be paid is approximately $4.1 million and is included in dividends payable in the condensed consolidated balance sheet at March 31, 2015.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	7. Accumulated Other Comprehensive Income (Loss)
	The changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2015 and 2014 were as follows:
		Unrealized Gains			Foreign Currency
		and (Losses)			Translation
		on Securities			Adjustments
		Available-for-
		Sale
	($ in thousands)
	Balance December 31, 2014	$	(107	)	$	(135	)
	Unrealized net gains on investments, net of tax of $(1)		4			—
	Foreign currency translation adjustments, net of tax of $165		—			(271	)
	Amounts reclassified from accumulated other comprehensive income		—			—
	Net current-period other comprehensive income		4			(271	)
	Balance March 31, 2015	$	(103	)	$	(406	)
		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 ($40)		63			—
	Foreign currency translation adjustments, net of tax of ($15)		—			24
	Amounts reclassified from accumulated other comprehensive income		—			—
	Net current-period other comprehensive income		63			24
	Balance March 31, 2014	$	(168	)	$	105

Stockbased_Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based 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 March 31, 2015, 356,836 shares of common stock remained 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 three months ended March 31, 2015 is summarized as follows:
		Number			Weighted
		of Shares			Average
					Grant Date
					Fair Value
	Outstanding at December 31, 2014		179,936		$	143.25
	Granted		70,961		$	141.7
	Forfeited		(16	)	$	77.08
	Settled		(65,831	)	$	100.54
	Outstanding at March 31, 2015		185,050		$	157.85
	For the three months ended March 31, 2015 and 2014, a total of 29,295 and 42,021 RSUs, respectively, were withheld by the Company as a result of net share settlements to settle minimum employee tax withholding obligations. The Company paid $4.1 million and $7.4 million for the three months ended March 31, 2015 and 2014, respectively, in minimum employee tax withholding obligations related to RSUs withheld. 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.
	During the three months ended March 31, 2015 and 2014, the Company granted 33,632 and 20,826 RSUs, respectively, each of which contain two performance based metrics in addition to a service condition. The two performance metrics are based on the Company’s growth in operating income, as adjusted, relative to peers, over a one-year period and total shareholder return (“TSR”) relative to peers over a three-year period. For the three months ended March 31, 2015 and 2014, total stock-based compensation expense included $0.6 and $0.1 million for these performance contingent RSUs, respectively.
	During the three months ended March 31, 2015 and 2014, the Company recognized $3.1 million and $1.6 million, respectively, in total stock-based compensation expense. As of March 31, 2015, unamortized stock-based compensation expense for unvested RSUs was $18.7 million, with a weighted-average remaining amortization period of 1.9 years.
	Stock Options
	Stock option activity for the three months ended March 31, 2015 is summarized as follows:
		Number			Weighted
		of Shares			Average
					Exercise Price
	Outstanding at December 31, 2014		162,824		$	18.79
	Granted		—		$	—
	Exercised		(3,315	)	$	16.47
	Forfeited		—		$	—
	Outstanding at March 31, 2015		159,509		$	18.84

Earnings_per_Share

Earnings per Share	3 Months Ended
	Mar. 31, 2015
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 March 31,
		2015			2014
	($ in thousands, except per share amounts)
	Net Income	$	19,725		$	21,767
	Noncontrolling interests		(383	)		171
	Net Income Attributable to Common Stockholders	$	19,342		$	21,938
	Shares (in thousands):
	Basic: Weighted-average number of shares outstanding		8,964			9,116
	Plus: Incremental shares from assumed conversion of dilutive instruments		187			245
	Diluted: Weighted-average number of shares outstanding		9,151			9,361
	Earnings per share - basic	$	2.16		$	2.41
	Earnings per share - diluted	$	2.11		$	2.34
	For the three months ended March 31, 2015, there were 6,085 instruments excluded from the above computations of weighted-average shares for diluted EPS and at March 31, 2014 there were no instruments excluded from the above computations of weighted- average shares for diluted EPS, because the effect would be anti-dilutive.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes
	In calculating the provision for income taxes, the Company uses an estimate of the annual effective tax rate based upon the facts and circumstances at each interim period. On a quarterly basis, the estimated annual effective tax rate is adjusted, as appropriate, based upon changes in facts and circumstances, if any, as compared to those forecasted at the beginning of the fiscal year and each interim period thereafter.
	The provision for income taxes reflects U.S. federal, state and local taxes at an estimated effective tax rate of 35.5% and 39.2% for the three months ended March 31, 2015 and 2014, respectively. The decrease in the estimated effective tax rate was primarily related to a release of valuation allowances related to market adjustments on the Company’s marketable securities.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies
	Legal Matters
	The Company is regularly involved in litigation and arbitration as well as examinations, inquiries 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 involve or may involve the Company’s activities as an employer, issuer of securities, investor, investment adviser, broker-dealer or taxpayer. In addition, in the normal course of business, the Company discusses matters with its regulators raised during regulatory examinations or is otherwise subject to their inquiry. These matters could result in censures, fines, penalties or other sanctions.
	The Company accrues for a liability when it is both probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. In addition, in the event the Company determines that a loss is not probable, but is reasonably possible, and it becomes possible to develop what the Company believes to be a reasonable range of possible loss, then the Company will include disclosures related to such matter as appropriate and in compliance with Accounting Standards Codification 450, Loss Contingencies. The disclosures, accruals or estimates, if any, resulting from the foregoing analysis are reviewed at least quarterly and adjusted to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other information and events pertaining to a particular matter. Other than as described herein, the Company believes, based on its current knowledge, that the outcomes of its legal and regulatory proceedings are not likely, either individually or in the aggregate, to have a material adverse effect on the Company’s results of operations, cash flows or its consolidated financial condition. However, in the event of unexpected subsequent developments and given the inherent unpredictability of these legal and regulatory matters, the Company can provide no assurance that its 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.
	Regulatory Matter
	As previously disclosed, in December 2014 the SEC announced a settlement with F-Squared Investments (“F-Squared”), an unaffiliated former subadviser (see Note 14), which settled charges that F-Squared had violated the federal securities laws as described in Investment Advisers Act Release No. 3988. The settlement related to F-Squared’s inaccurate performance information for the period of April 2001 through September 2008, including indices that certain Virtus mutual funds tracked beginning in September 2009 and January 2011. As part of the SEC’s non-public, confidential investigation of this matter, the SEC staff informed the Company that it was inquiring into whether the Company had violated securities laws or regulations with respect to F-Squared’s historical performance information. Although the Company has not received a Wells Notice in connection with the investigation, the Company is in active discussions with the SEC staff with the objective of promptly resolving this matter.
	Based upon these circumstances, the Company has recorded a loss contingency pursuant to ASC 450 – Contingencies, of approximately $5.2 million in the first quarter 2015, in other operating expenses along with a related potential income tax benefit as a component of the Company’s income tax expense. The Company believes that it is reasonably possible that a loss greater than the amount accrued may be incurred, but the Company is unable to estimate the amount at this time. The discussions are ongoing, and the Company cannot provide any assurance that a resolution will be reached.
	Tom Cummins v. Virtus Investment Partners Inc. et al
	On February 20, 2015, a putative class action complaint alleging violation of the federal securities laws was filed by an individual shareholder against the Company and certain of the Company’s current officers (the “the defendants”) in the United States District Court for the Southern District of New York. The complaint was purportedly filed on behalf of all purchasers of the Company’s common stock between May 28, 2013 and December 22, 2014, inclusive (the “Class Period”). The complaint alleges that, during the Class Period, the defendants disseminated materially false and misleading statements and concealed material adverse facts relating to certain funds subadvised by F-Squared Investments. The complaint alleges claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5. The plaintiff seeks to recover unspecified damages on behalf of the class members. The Company believes that the suit is without merit and intends to defend it vigorously. On April 21, 2015, three plaintiffs, including the original plaintiff, filed motions to be appointed lead plaintiff. One of the motions has been withdrawn and on May 7, 2015 the other applicant filed a statement of non-opposition to the motion of Arkansas Teachers Retirement System to be appointed lead plaintiff. The Company believes that there is not a material loss that is probable and reasonably estimable related to this claim.
	Mark Youngers v. Virtus Investment Partners, Inc. et al
	On May 8, 2015, a putative class action complaint alleging violations of certain provisions of the federal securities laws was filed in the United States District Court for the Central District of California by an individual who alleges he is a former shareholder of one of the Virtus mutual funds formerly subadvised by F-Squared Investments and formerly known as the AlphaSector Funds. The complaint purports to allege claims against the Company, certain of the Company’s officers and affiliates, and certain other parties (the “defendants”). The complaint was purportedly filed on behalf of purchasers of the AlphaSector Funds between May 8, 2010 and December 22, 2014, inclusive (the “Class Period’). The complaint alleges that during the Class Period the defendants disseminated materially false and misleading statements and concealed or omitted material facts necessary to make the statements made not misleading. The Company has not been served with the complaint. The Company believes the plaintiff’s claims asserted in the complaint are without merit and intends to defend it vigorously.

Consolidated_Sponsored_Investm

Consolidated Sponsored Investment Products	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated Sponsored Investment Products	12. Consolidated Sponsored Investment Products
	In the normal course of its business, the Company sponsors various 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 VIE. 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. 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 March 31, 2015 and December 31, 2014, the Company consolidated 12 sponsored investment products, respectively. During the three months ended March 31, 2015, the Company consolidated one additional sponsored investment product 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 March 31, 2015 and December 31, 2014:
			As of
			March 31,			December 31,
			2015			2014
	($ in thousands)
	Total cash		$	11,612		$	8,687
	Total investments			254,481			236,652
	All other assets			8,629			6,960
	Total liabilities			(16,491	)		(12,556	)
	Redeemable noncontrolling interests			(34,977	)		(23,071	)
	The Company’s net interests in consolidated sponsored investment products		$	223,254		$	216,672
	Consolidation
	The following tables reflect the impact of the consolidated sponsored investment products in the Condensed Consolidated Balance Sheets as of March 31, 2015 and December 31, 2014, respectively:
	As of March 31, 2015
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Condensed
						Products						Consolidated
												Balance Sheet
	($ in thousands)
	Total cash		$	166,031		$	11,612		$	—		$	177,643
	Total investments			277,471			254,481			(220,476	)		311,476
	All other assets			185,404			8,629			(2,778	)		191,255
	Total assets		$	628,906		$	274,722		$	(223,254	)	$	680,374
	Total liabilities		$	63,762		$	19,269		$	(2,778	)	$	80,253
	Redeemable noncontrolling interest			—			—			34,977			34,977
	Equity attributable to stockholders of the Company			565,368			255,453			(255,453	)		565,368
	Non-redeemable noncontrolling interest			(224	)		—			—			(224	)
	Total liabilities and equity		$	628,906		$	274,722		$	(223,254	)	$	680,374
	As of December 31, 2014
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Condensed
						Products						Consolidated
												Balance Sheet
	($ in thousands)
	Total cash		$	202,847		$	8,687		$	—		$	211,534
	Total investments			279,863			236,652			(216,415	)		300,100
	All other assets			180,436			6,960			(257	)		187,139
	Total assets		$	663,146		$	252,299		$	(216,672	)	$	698,773
	Total liabilities		$	99,794		$	12,813		$	(257	)	$	112,350
	Redeemable noncontrolling interest			—			—			23,071			23,071
	Equity attributable to stockholders of the Company			563,542			239,486			(239,486	)		563,542
	Non-redeemable noncontrolling interest			(190	)		—			—			(190	)
	Total liabilities and equity		$	663,146		$	252,299		$	(216,672	)	$	698,773
	(a)	Adjustments include the elimination of intercompany transactions between the Company and its consolidated sponsored investment products, primarily the elimination of the investments and consolidated sponsored investment product 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 months ended March 31, 2015 and 2014:
	For the Three Months Ended March 31, 2015
			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		$	104,232		$	—		$	(401	)	$	103,831
	Total operating expenses			78,471			1,219			(401	)		79,289
	Operating income (loss)			25,761			(1,219	)		—			24,542
	Total other non-operating income (expense)			4,415			4,914			(3,278	)		6,051
	Income (loss) before income tax expense			30,176			3,695			(3,278	)		30,593
	Income tax expense			10,868			—			—			10,868
Net income (loss)			19,308			3,695			(3,278	)		19,725
Noncontrolling interests			34			—			(417	)		(383	)
Net income (loss) attributable to the Company		$	19,342		$	3,695		$	(3,695	)	$	19,342
For the Three Months Ended March 31, 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		$	107,855		$	—		$	16		$	107,871
Total operating expenses			74,914			315			16			75,245
Operating income (loss)			32,941			(315	)		—			32,626
Total other non-operating income (expense)			2,997			910			(756	)		3,151
Income (loss) before income tax expense			35,938			595			(756	)		35,777
Income tax expense			14,010			—			—			14,010
Net income (loss)			21,928			595			(756	)		21,767
Noncontrolling interests			10			—			161			171
Net income (loss) attributable to the Company		$	21,938		$	595		$	(595	)	$	21,938
(a)	Adjustments include the elimination of intercompany transactions between the Company and its consolidated sponsored investment products, primarily the elimination of the investments and consolidated sponsored investment product equity and recording of any noncontrolling interest.
Fair Value Measurements of Consolidated Sponsored Investment Products
The assets of the consolidated sponsored investment products measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014 by fair value hierarchy level were as follows:
As of March 31, 2015
		Level 1			Level 2			Level 3			Total
($ in thousands)
Assets
Debt securities		$	—		$	144,391		$	913		$	145,304
Equity securities			108,408			769			—			109,177
Derivatives			88			179			—			267
Total Assets Measured at Fair Value		$	108,496		$	145,339		$	913		$	254,748
Liabilities
Derivatives		$	129		$	43		$	—		$	172
Short sales			8,975			538			—			9,513
Total Liabilities Measured at Fair Value		$	9,104		$	581		$	—		$	9,685
As of December 31, 2014
		Level 1			Level 2			Level 3			Total
($ in thousands)
Assets
Debt securities		$	—		$	135,050		$	1,065		$	136,115
Equity securities			82,417			18,120			—			100,537
Derivatives			154			227			—			381
Total Assets Measured at Fair Value		$	82,571		$	153,397		$	1,065		$	237,033
Liabilities
Derivatives		$	191		$	—		$	—		$	191
Short sales			7,491			674			—			8,165
Total Liabilities Measured at Fair Value		$	7,682		$	674		$	—		$	8,356
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, equity and other 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 most debt securities, which are valued based on quotations received from independent pricing services or from dealers who make markets in such securities and certain equity securities, including non-US 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. 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, are illiquid or 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.
		For the Three
		Months Ended
		March 31, 2015
Level 3 Debt securities (a)
Balance at beginning of period		$	1,065
Paydowns			(1	)
Transferred to Level 2			(152	)
Change in unrealized gain/loss			1
Balance at end of period		$	913
(a)	None of the securities in the above table were internally fair valued at March 31, 2015.
For the three months ended March 31, 2015, securities held by consolidated sponsored investment products with an end of period value of less than $0.1 million were transferred from Level 1 to Level 2 because certain non-US securities’ quoted market prices were adjusted based on third-party factors derived from model-based valuation techniques for which the significant assumptions were observable in the market. For the three months ended March 31, 2015, securities held by consolidated sponsored investment products with an end of period value of $15.3 million were transferred from Level 2 to Level 1 because certain non-US securities’ quoted market prices were no longer adjusted. There were no assets or liabilities with a Level 3 fair value at March 31, 2014. There were no transfers between Level 1, Level 2, or Level 3 during the three months ended March 31, 2014.
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 March 31, 2015 and December 31, 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, in the Condensed Consolidated Statement of Operations was immaterial for the three months ended March 31, 2015. There were no derivatives held by consolidated sponsored investment products at March 31, 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 security is sold which is not owned or is owned but there is no intention 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.
Borrowings
One of the Company’s consolidated sponsored investment products employs leverage in the form of using proceeds from short sales, which allows it to use its long positions as collateral in order to purchase additional securities. The use of these proceeds from short sales is secured by the assets of the consolidated sponsored investment product which are held with the custodian in a separate account. This consolidated sponsored investment product is permitted to borrow up to 33.33% of its total assets.

New_Accounting_Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	13. New Accounting Standards
	In February 2015, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”). This standard modifies existing consolidation guidance for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. ASU 2015-02 is effective for fiscal years and interim periods within those years beginning after December 15, 2015 and requires either a retrospective or a modified retrospective approach to adoption. Early adoption is permitted. The company is currently evaluating the potential impact of this standard on its financial statements, as well as the available transition methods.
	In August 2014, the FASB issued ASU No. 2014-13, Measuring the Financial Assets and Financial Liabilities of a Consolidated Collateralized Financing Entity (“CFE”) (“ASU 2014-13”). This new guidance requires reporting entities to use the more observable of the fair value of the financial assets or the financial liabilities to measure the financial assets and the financial liabilities of a CFE when a CFE is initially consolidated. It permits entities to make an accounting policy election to apply this same measurement approach after initial consolidation or to apply other GAAP to account for the consolidated CFE’s financial assets and financial liabilities. It also prohibits all entities from electing to use the fair value option in ASC 825, Financial Instruments, to measure either the financial assets or financial liabilities of a consolidated CFE that is within the scope of this issue. This guidance is effective for fiscal years beginning after December 15, 2015 and interim periods therein. Early adoption is permitted using a modified retrospective transition approach as described in the pronouncement. As of March 31, 2015, the Company has not yet adopted ASU 2014-13 but does not expect this standard to have a material effect on its financial statements.
	In May 2014, the FASB issued ASU No. 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. The Company is currently evaluating the impact ASU 2014-09 is expected to have on its consolidated financial statements.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events
	On April 10, 2015, the Company invested approximately $4.8 million to acquire a majority interest in ETF Issuer Solutions (“ETFis”), a New York City-based company that operates a platform for listing, operating, and distributing exchange-traded funds.
	On May 11, 2015, the Company gave the required contractual 30-day notice of termination to F-Squared Investments, an unaffiliated former subadviser to five Virtus open-end mutual funds previously known as the AlphaSector funds which have been renamed “Virtus Trend” funds.

New_Accounting_Standards_Polic

New Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	In February 2015, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”). This standard modifies existing consolidation guidance for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. ASU 2015-02 is effective for fiscal years and interim periods within those years beginning after December 15, 2015 and requires either a retrospective or a modified retrospective approach to adoption. Early adoption is permitted. The company is currently evaluating the potential impact of this standard on its financial statements, as well as the available transition methods.
	In August 2014, the FASB issued ASU No. 2014-13, Measuring the Financial Assets and Financial Liabilities of a Consolidated Collateralized Financing Entity (“CFE”) (“ASU 2014-13”). This new guidance requires reporting entities to use the more observable of the fair value of the financial assets or the financial liabilities to measure the financial assets and the financial liabilities of a CFE when a CFE is initially consolidated. It permits entities to make an accounting policy election to apply this same measurement approach after initial consolidation or to apply other GAAP to account for the consolidated CFE’s financial assets and financial liabilities. It also prohibits all entities from electing to use the fair value option in ASC 825, Financial Instruments, to measure either the financial assets or financial liabilities of a consolidated CFE that is within the scope of this issue. This guidance is effective for fiscal years beginning after December 15, 2015 and interim periods therein. Early adoption is permitted using a modified retrospective transition approach as described in the pronouncement. As of March 31, 2015, the Company has not yet adopted ASU 2014-13 but does not expect this standard to have a material effect on its financial statements.
	In May 2014, the FASB issued ASU No. 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. The Company is currently evaluating the impact ASU 2014-09 is expected to have on its consolidated financial statements.

Intangible_Assets_Net_Tables

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets, Net	Intangible assets, net are summarized as follows:
		March 31,			December 31,
		2015			2014
	($ in thousands)
	Definite-lived intangible assets:
	Investment contracts	$	158,747		$	158,747
	Accumulated amortization		(150,217	)		(149,380	)
	Definite-lived intangible assets, net		8,530			9,367
	Indefinite-lived intangible assets		32,416			32,416
	Total intangible assets, net	$	40,946		$	41,783
Schedule of Activity in Intangible Assets, Net	Activity in intangible assets, net is as follows:
		Three Months Ended March 31,
		2015			2014
	($ in thousands)
	Intangible assets, net
	Balance, beginning of period	$	41,783		$	44,633
	Amortization		(837	)		(1,105	)
	Balance, end of period	$	40,946		$	43,528

Investments_Tables

Investments (Tables)	3 Months Ended
	Mar. 31, 2015
Investments Schedule [Abstract]
Summary of Investments	The Company’s investments, excluding the assets of consolidated sponsored investment products discussed in Note 12, at March 31, 2015 and December 31, 2014 were as follows:
		March 31,		December 31,
		2015		2014
	($ in thousands)
	Marketable securities	$	43,703	$	50,251
	Equity method investments		7,199		7,209
	Nonqualified retirement plan assets		5,168		5,063
	Other investments		925		925
	Total investments	$	56,995	$	63,448
Schedule of Marketable Securities	The Company’s marketable securities consist of both trading (including securities held by a broker-dealer affiliate) and available-for-sale securities. The composition of the Company’s marketable securities is summarized as follows:
	March 31, 2015
		Cost		Unrealized			Unrealized		Fair
				Loss			Gain		Value
	($ in thousands)
	Trading:
	Sponsored funds	$	31,365	$	(844	)	$	690	$	31,211
	Equity securities		9,064		—			179		9,243
	Available-for-sale:
	Sponsored closed-end funds		3,173		(161	)		237		3,249
	Total marketable securities	$	43,602	$	(1,005	)	$	1,106	$	43,703
	December 31, 2014
		Cost		Unrealized			Unrealized		Fair
				Loss			Gain		Value
	($ in thousands)
	Trading:
	Sponsored funds	$	39,079	$	(1,190	)	$	423	$	38,312
	Equity securities		8,421		—			319		8,740
	Available-for-sale:
	Sponsored closed-end funds		3,129		(163	)		233		3,199
	Total marketable securities	$	50,629	$	(1,353	)	$	975	$	50,251

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
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 on a recurring basis, excluding the assets and liabilities of consolidated sponsored investment products discussed in Note 12, as of March 31, 2015 and December 31, 2014 by fair value hierarchy level were as follows:
	March 31, 2015
		Level 1		Level 2		Level 3		Total
	($ in thousands)
	Assets
	Cash equivalents	$	123,565	$	—	$	—	$	123,565
	Marketable securities trading:
	Sponsored funds		31,211		—		—		31,211
	Equity securities		9,243		—		—		9,243
	Marketable securities available for sale:
	Sponsored closed-end funds		3,249		—		—		3,249
	Other investments:
	Nonqualified retirement plan assets		5,168		—		—		5,168
	Total assets measured at fair value	$	172,436	$	—	$	—	$	172,436
	December 31, 2014
		Level 1		Level 2		Level 3		Total
	($ in thousands)
	Assets
	Cash equivalents	$	202,054	$	—	$	—	$	202,054
	Marketable securities trading:
	Sponsored funds		38,312		—		—		38,312
	Equity securities		8,740		—		—		8,740
	Marketable securities available for sale:
	Sponsored closed-end funds		3,199		—		—		3,199
	Other investments
	Nonqualified retirement plan assets		5,063		—		—		5,063
	Total assets measured at fair value	$	257,368	$	—	$	—	$	257,368

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)	The changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2015 and 2014 were as follows:
		Unrealized Gains			Foreign Currency
		and (Losses)			Translation
		on Securities			Adjustments
		Available-for-
		Sale
	($ in thousands)
	Balance December 31, 2014	$	(107	)	$	(135	)
	Unrealized net gains on investments, net of tax of $(1)		4			—
	Foreign currency translation adjustments, net of tax of $165		—			(271	)
	Amounts reclassified from accumulated other comprehensive income		—			—
	Net current-period other comprehensive income		4			(271	)
	Balance March 31, 2015	$	(103	)	$	(406	)
		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 ($40)		63			—
	Foreign currency translation adjustments, net of tax of ($15)		—			24
	Amounts reclassified from accumulated other comprehensive income		—			—
	Net current-period other comprehensive income		63			24
	Balance March 31, 2014	$	(168	)	$	105

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Restricted Stock Units Activity	RSU activity for the three months ended March 31, 2015 is summarized as follows:
		Number			Weighted
		of Shares			Average
					Grant Date
					Fair Value
	Outstanding at December 31, 2014		179,936		$	143.25
	Granted		70,961		$	141.7
	Forfeited		(16	)	$	77.08
	Settled		(65,831	)	$	100.54
	Outstanding at March 31, 2015		185,050		$	157.85
Summary of Stock Option Activity	Stock option activity for the three months ended March 31, 2015 is summarized as follows:
		Number			Weighted
		of Shares			Average
					Exercise Price
	Outstanding at December 31, 2014		162,824		$	18.79
	Granted		—		$	—
	Exercised		(3,315	)	$	16.47
	Forfeited		—		$	—
	Outstanding at March 31, 2015		159,509		$	18.84

Earnings_per_Share_Tables

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The computation of basic and diluted EPS is as follows:
		Three Months Ended March 31,
		2015			2014
	($ in thousands, except per share amounts)
	Net Income	$	19,725		$	21,767
	Noncontrolling interests		(383	)		171
	Net Income Attributable to Common Stockholders	$	19,342		$	21,938
	Shares (in thousands):
	Basic: Weighted-average number of shares outstanding		8,964			9,116
	Plus: Incremental shares from assumed conversion of dilutive instruments		187			245
	Diluted: Weighted-average number of shares outstanding		9,151			9,361
	Earnings per share - basic	$	2.16		$	2.41
	Earnings per share - diluted	$	2.11		$	2.34

Consolidated_Sponsored_Investm1

Consolidated Sponsored Investment Products (Tables)	3 Months Ended
	Mar. 31, 2015
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 March 31, 2015 and December 31, 2014:
			As of
			March 31,			December 31,
			2015			2014
	($ in thousands)
	Total cash		$	11,612		$	8,687
	Total investments			254,481			236,652
	All other assets			8,629			6,960
	Total liabilities			(16,491	)		(12,556	)
	Redeemable noncontrolling interests			(34,977	)		(23,071	)
	The Company’s net interests in consolidated sponsored investment products		$	223,254		$	216,672
Condensed Consolidated Balance Sheets	The following tables reflect the impact of the consolidated sponsored investment products in the Condensed Consolidated Balance Sheets as of March 31, 2015 and December 31, 2014, respectively:
	As of March 31, 2015
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Condensed
						Products						Consolidated
												Balance Sheet
	($ in thousands)
	Total cash		$	166,031		$	11,612		$	—		$	177,643
	Total investments			277,471			254,481			(220,476	)		311,476
	All other assets			185,404			8,629			(2,778	)		191,255
	Total assets		$	628,906		$	274,722		$	(223,254	)	$	680,374
	Total liabilities		$	63,762		$	19,269		$	(2,778	)	$	80,253
	Redeemable noncontrolling interest			—			—			34,977			34,977
	Equity attributable to stockholders of the Company			565,368			255,453			(255,453	)		565,368
	Non-redeemable noncontrolling interest			(224	)		—			—			(224	)
	Total liabilities and equity		$	628,906		$	274,722		$	(223,254	)	$	680,374
	As of December 31, 2014
			Balance Before			Consolidated			Eliminations			Balances as
			Consolidation of			Sponsored			and			Reported in
			Investment Products			Investment			Adjustments (a)			Condensed
						Products						Consolidated
												Balance Sheet
	($ in thousands)
	Total cash		$	202,847		$	8,687		$	—		$	211,534
	Total investments			279,863			236,652			(216,415	)		300,100
	All other assets			180,436			6,960			(257	)		187,139
	Total assets		$	663,146		$	252,299		$	(216,672	)	$	698,773
	Total liabilities		$	99,794		$	12,813		$	(257	)	$	112,350
	Redeemable noncontrolling interest			—			—			23,071			23,071
	Equity attributable to stockholders of the Company			563,542			239,486			(239,486	)		563,542
	Non-redeemable noncontrolling interest			(190	)		—			—			(190	)
	Total liabilities and equity		$	663,146		$	252,299		$	(216,672	)	$	698,773
	(a)	Adjustments include the elimination of intercompany transactions between the Company and its consolidated sponsored investment products, primarily the elimination of the investments and consolidated sponsored investment product 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 months ended March 31, 2015 and 2014:
	For the Three Months Ended March 31, 2015
			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		$	104,232		$	—		$	(401	)	$	103,831
	Total operating expenses			78,471			1,219			(401	)		79,289
	Operating income (loss)			25,761			(1,219	)		—			24,542
	Total other non-operating income (expense)			4,415			4,914			(3,278	)		6,051
	Income (loss) before income tax expense			30,176			3,695			(3,278	)		30,593
	Income tax expense			10,868			—			—			10,868
	Net income (loss)			19,308			3,695			(3,278	)		19,725
	Noncontrolling interests			34			—			(417	)		(383	)
	Net income (loss) attributable to the Company		$	19,342		$	3,695		$	(3,695	)	$	19,342
	For the Three Months Ended March 31, 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		$	107,855		$	—		$	16		$	107,871
	Total operating expenses			74,914			315			16			75,245
	Operating income (loss)			32,941			(315	)		—			32,626
	Total other non-operating income (expense)			2,997			910			(756	)		3,151
	Income (loss) before income tax expense			35,938			595			(756	)		35,777
	Income tax expense			14,010			—			—			14,010
	Net income (loss)			21,928			595			(756	)		21,767
	Noncontrolling interests			10			—			161			171
	Net income (loss) attributable to the Company		$	21,938		$	595		$	(595	)	$	21,938
	(a)	Adjustments include the elimination of intercompany transactions between the Company and its consolidated sponsored investment products, primarily the elimination of the investments and consolidated sponsored investment product equity and recording of any noncontrolling interest.
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	The assets of the consolidated sponsored investment products measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014 by fair value hierarchy level were as follows:
	As of March 31, 2015
			Level 1			Level 2			Level 3			Total
	($ in thousands)
	Assets
	Debt securities		$	—		$	144,391		$	913		$	145,304
	Equity securities			108,408			769			—			109,177
	Derivatives			88			179			—			267
	Total Assets Measured at Fair Value		$	108,496		$	145,339		$	913		$	254,748
	Liabilities
	Derivatives		$	129		$	43		$	—		$	172
	Short sales			8,975			538			—			9,513
	Total Liabilities Measured at Fair Value		$	9,104		$	581		$	—		$	9,685
	As of December 31, 2014
			Level 1			Level 2			Level 3			Total
	($ in thousands)
	Assets
	Debt securities		$	—		$	135,050		$	1,065		$	136,115
	Equity securities			82,417			18,120			—			100,537
	Derivatives			154			227			—			381
	Total Assets Measured at Fair Value		$	82,571		$	153,397		$	1,065		$	237,033
	Liabilities
	Derivatives		$	191		$	—		$	—		$	191
	Short sales			7,491			674			—			8,165
	Total Liabilities Measured at Fair Value		$	7,682		$	674		$	—		$	8,356
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.
			For the Three
			Months Ended
			March 31, 2015
	Level 3 Debt securities (a)
	Balance at beginning of period		$	1,065
	Paydowns			(1	)
	Transferred to Level 2			(152	)
	Change in unrealized gain/loss			1
	Balance at end of period		$	913
	(a)	None of the securities in the above table were internally fair valued at March 31, 2015.

Intangible_Assets_Net_Summary_

Intangible Assets, Net - Summary of Intangible Assets, Net (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Definite-lived intangible assets:
Investment contracts	$158,747	$158,747
Accumulated amortization	-150,217	-149,380
Definite-lived intangible assets, net	8,530	9,367
Indefinite-lived intangible assets	32,416	32,416
Total intangible assets, net	$40,946	$41,783	$43,528	$44,633

Intangible_Assets_Net_Schedule

Intangible Assets, Net - Schedule of Activity in Intangible Assets, Net (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, net, beginning of period	$41,783	$44,633
Amortization	-837	-1,105
Intangible assets, net, end of period	$40,946	$43,528

Investments_Summary_of_Investm

Investments - Summary of Investments (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Investments Schedule [Abstract]
Marketable securities	$43,703	$50,251
Equity method investments	7,199	7,209
Nonqualified retirement plan assets	5,168	5,063
Other investments	925	925
Total investments	$56,995	$63,448

Investments_Schedule_of_Market

Investments - Schedule of Marketable Securities (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Marketable Securities [Abstract]
Cost	$43,602	$50,629
Unrealized Loss	-1,005	-1,353
Unrealized Gain	1,106	975
Fair Value	43,703	50,251
Sponsored Funds [Member]
Marketable Securities [Abstract]
Cost	31,365	39,079
Unrealized Loss	-844	-1,190
Unrealized Gain	690	423
Fair Value	31,211	38,312
Equity Securities [Member]
Marketable Securities [Abstract]
Cost	9,064	8,421
Unrealized Gain	179	319
Fair Value	9,243	8,740
Sponsored Closed-End Funds [Member]
Marketable Securities [Abstract]
Cost	3,173	3,129
Unrealized Loss	-161	-163
Unrealized Gain	237	233
Fair Value	$3,249	$3,199

Investments_Additional_Informa

Investments - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Investments Schedule [Abstract]
Realized gain on trading securities	$0.40	$0.90

Fair_Value_Measurements_Change

Fair Value Measurements - Changes in Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Cash equivalents	$123,565	$202,054
Total assets measured at fair value	172,436	257,368
Other investments, nonqualified retirement plan assets	5,168	5,063
Sponsored Funds [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Marketable securities trading	31,211	38,312
Equity Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Marketable securities trading	9,243	8,740
Sponsored Closed-End Funds [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Marketable securities available for sale	3,249	3,199
Nonqualified Retirement Plan Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Other investments, nonqualified retirement plan assets	5,168	5,063
Level 1 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Cash equivalents	123,565	202,054
Total assets measured at fair value	172,436	257,368
Level 1 [Member] | Sponsored Funds [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Marketable securities trading	31,211	38,312
Level 1 [Member] | Equity Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Marketable securities trading	9,243	8,740
Level 1 [Member] | Sponsored Closed-End Funds [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Marketable securities available for sale	3,249	3,199
Level 1 [Member] | Nonqualified Retirement Plan Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Other investments, nonqualified retirement plan assets	$5,168	$5,063

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	Mar. 31, 2015	Mar. 31, 2014
Fair Value Disclosures [Abstract]
Fair value, equity, Level 1 to Level 2 transfers, amount	$0	$0

Equity_Transactions_Additional

Equity Transactions - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended	54 Months Ended
	Feb. 18, 2015	Mar. 31, 2015	Mar. 31, 2015
Equity [Abstract]
Treasury stock, shares acquired		103,818	679,259
Weighted average purchase price per share		$134.81	$134.96
Total cost of treasury shares acquired		$14,000,000	$91,700,000
Common stock available for repurchase		520,741	520,741
Cash dividends declared per share	$0.45	$0.45
Dividend, to be paid date	13-May-15
Dividend, record date	30-Apr-15
Dividends payable		$4,095,000	$4,095,000

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	($242)
Other comprehensive income (loss) before reclassifications, net of tax	4	63
Other comprehensive income (loss) before reclassifications, foreign currency translation adjustments, net of tax	-271	24
Other comprehensive (loss) income	-267	87
Ending Balance	-509
Unrealized Gains and (Losses) on Securities Available-for-Sale [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	-107	-231
Other comprehensive income (loss) before reclassifications, net of tax	4	63
Amounts reclassified from accumulated other comprehensive income	0	0
Other comprehensive (loss) income	4	63
Ending Balance	-103	-168
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	-135	81
Other comprehensive income (loss) before reclassifications, foreign currency translation adjustments, net of tax	-271	24
Amounts reclassified from accumulated other comprehensive income	0	0
Other comprehensive (loss) income	-271	24
Ending Balance	($406)	$105

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, tax	($1)	($40)
Other comprehensive income (loss) before reclassifications, tax	165	-15
Unrealized Gains and (Losses) on Securities Available-for-Sale [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, tax	-1	-40
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, tax	$165	($15)

Stockbased_Compensation_Additi

Stock-based Compensation - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock reserved for issuance	1,800,000
Shares of common stock available for issuance	356,836
Vesting period of stock options in years	3 years
Cash used for employee withholding tax payments	$4.10	$7.40
Share settlement under RSUs	29,295	42,021
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense	18.7
Weighted-average remaining amortization period	1 year 10 months 24 days
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual life in years	10 years
Stock-based compensation expense	3.1	1.6
RSU and Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company granted performance contingent RSU	33,632	20,826
Stock-based compensation expense	$0.60	$0.10
Minimum [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual life in years	1 year
Maximum [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual life in years	3 years

Stockbased_Compensation_Summar

Stock-based Compensation - Summary of Restricted Stock Units Activity (Detail) (Restricted Stock Units [Member], USD $)	3 Months Ended
	Mar. 31, 2015
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Beginning Balance	179,936
Number of shares, Granted	70,961
Number of shares, Forfeited	-16
Number of shares, Settled	-65,831
Number of shares, Ending Balance	185,050
Weighted Average Grant Date Fair Value, Beginning Balance	$143.25
Weighted Average Grant Date Fair Value, Granted	$141.70
Weighted Average Grant Date Fair Value, Forfeited	$77.08
Weighted Average Grant Date Fair Value, Settled	$100.54
Weighted Average Grant Date Fair Value, Ending Balance	$157.85

Stockbased_Compensation_Summar1

Stock-based Compensation - Summary of Stock Option Activity (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Shares, Beginning Balance	162,824
Number of Shares, Granted	0
Number of Shares, Exercised	-3,315
Number of Shares, Forfeited	0
Number of Shares, Ending Balance	159,509
Weighted Average Exercise Price, Beginning Balance	$18.79
Weighted Average Exercise Price, Granted	$0
Weighted Average Exercise Price, Exercised	$16.47
Weighted Average Exercise Price, Forfeited	$0
Weighted Average Exercise Price, Ending Balance	$18.84

Earnings_per_Share_Schedule_of

Earnings per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net Income	$19,725	$21,767
Noncontrolling interests	-383	171
Net Income Attributable to Common Stockholders	$19,342	$21,938
Shares:
Basic: Weighted-average number of shares outstanding	8,964	9,116
Plus: Incremental shares from assumed conversion of dilutive instruments	187	245
Diluted: Weighted-average number of shares outstanding	9,151	9,361
Earnings per share - basic	$2.16	$2.41
Earnings per share - diluted	$2.11	$2.34

Earnings_per_Share_Additional_

Earnings per Share - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Number of anti-dilutive instruments excluded from computation of weighted-average shares for diluted earnings per share	6,085	0

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Estimated effective income tax rate	35.50%	39.20%

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	3 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Apr. 21, 2015	8-May-15
			Plaintiff	Complaints
Loss Contingencies [Line Items]
Increase in accrued liabilities	($35,020)	($31,052)
Subsequent Event [Member]
Loss Contingencies [Line Items]
Number of plaintiffs			3
Central District of California [Member] | Subsequent Event [Member]
Loss Contingencies [Line Items]
Number of putative class action complaints filed				1
Other Operating Expenses [Member]
Loss Contingencies [Line Items]
Increase in accrued liabilities	$5,200

Consolidated_Sponsored_Investm2

Consolidated Sponsored Investment Products - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
	Product	Product
Condensed Financial Statements, Captions [Line Items]
Number of consolidated sponsored investment products	12	12
Number of additional consolidated sponsored investment product	1
Number of deconsolidated sponsored investment products	1
Fair value, securities, Level 1 to Level 2 transfers, amount	$0		$0
Fair value, securities, Level 2 to Level 1 transfers, amount	15,300,000		0
Maximum [Member]
Condensed Financial Statements, Captions [Line Items]
Fair value, securities, Level 1 to Level 2 transfers, amount	100,000		0
Percentage of permitted borrowings	33.33%
Level 3 [Member]
Condensed Financial Statements, Captions [Line Items]
Assets with level 3 fair value			0
Liabilities with level 3 fair value			$0

Consolidated_Sponsored_Investm3

Consolidated Sponsored Investment Products - Balances of Consolidated Sponsored Investment Products (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Statement of Financial Position [Abstract]
Total cash	$11,612	$8,687
Total investments	254,481	236,652
All other assets	8,629	6,960
Total liabilities	-16,491	-12,556
Redeemable noncontrolling interests	-34,977	-23,071
Company's net interests in consolidated sponsored investment products	$223,254	$216,672

Consolidated_Sponsored_Investm4

Consolidated Sponsored Investment Products - Condensed Consolidated Balance Sheets (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Condensed Financial Statements, Captions [Line Items]
Total cash	$166,031	$202,847
Total investments	56,995	63,448
All other assets	17,092	16,060
Total assets	680,374	698,773
Total liabilities	80,253	112,350
Redeemable noncontrolling interest	34,977	23,071
Equity attributable to stockholders of the Company	565,368	563,542
Non-redeemable noncontrolling interest	-224	-190
Total liabilities and equity	680,374	698,773
Balances as Reported in Consolidated Balance Sheet [Member]
Condensed Financial Statements, Captions [Line Items]
Total cash	177,643	211,534
Total investments	311,476	300,100
All other assets	191,255	187,139
Total assets	680,374	698,773
Total liabilities	80,253	112,350
Redeemable noncontrolling interest	34,977	23,071
Equity attributable to stockholders of the Company	565,368	563,542
Non-redeemable noncontrolling interest	-224	-190
Total liabilities and equity	680,374	698,773
Reportable Legal Entities [Member] | Balance Before Consolidation of Investment Products [Member]
Condensed Financial Statements, Captions [Line Items]
Total cash	166,031	202,847
Total investments	277,471	279,863
All other assets	185,404	180,436
Total assets	628,906	663,146
Total liabilities	63,762	99,794
Redeemable noncontrolling interest	0
Equity attributable to stockholders of the Company	565,368	563,542
Non-redeemable noncontrolling interest	-224	-190
Total liabilities and equity	628,906	663,146
Reportable Legal Entities [Member] | Consolidated Sponsored Investment Products [Member]
Condensed Financial Statements, Captions [Line Items]
Total cash	11,612	8,687
Total investments	254,481	236,652
All other assets	8,629	6,960
Total assets	274,722	252,299
Total liabilities	19,269	12,813
Redeemable noncontrolling interest	0
Equity attributable to stockholders of the Company	255,453	239,486
Non-redeemable noncontrolling interest	0
Total liabilities and equity	274,722	252,299
Eliminations and Adjustments [Member]
Condensed Financial Statements, Captions [Line Items]
Total cash	0
Total investments	-220,476	-216,415
All other assets	-2,778	-257
Total assets	-223,254	-216,672
Total liabilities	-2,778	-257
Redeemable noncontrolling interest	34,977	23,071
Equity attributable to stockholders of the Company	-255,453	-239,486
Non-redeemable noncontrolling interest	0
Total liabilities and equity	($223,254)	($216,672)

Consolidated_Sponsored_Investm5

Consolidated Sponsored Investment Products - Condensed Consolidated Statement of Operations (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Condensed Income Statements, Captions [Line Items]
Total operating revenues	$103,831	$107,871
Total operating expenses	79,289	75,245
Operating income (loss)	24,542	32,626
Total other non-operating income (expense)	6,051	3,151
Income Before Income Taxes	30,593	35,777
Income tax expense	10,868	14,010
Net income (loss)	19,725	21,767
Noncontrolling interests	-383	171
Net income (loss) attributable to the Company	19,342	21,938
Reportable Legal Entities [Member] | Balance Before Consolidation of Investment Products [Member]
Condensed Income Statements, Captions [Line Items]
Total operating revenues	104,232	107,855
Total operating expenses	78,471	74,914
Operating income (loss)	25,761	32,941
Total other non-operating income (expense)	4,415	2,997
Income Before Income Taxes	30,176	35,938
Income tax expense	10,868	14,010
Net income (loss)	19,308	21,928
Noncontrolling interests	34	10
Net income (loss) attributable to the Company	19,342	21,938
Reportable Legal Entities [Member] | Consolidated Sponsored Investment Products [Member]
Condensed Income Statements, Captions [Line Items]
Total operating revenues	0
Total operating expenses	1,219	315
Operating income (loss)	-1,219	-315
Total other non-operating income (expense)	4,914	910
Income Before Income Taxes	3,695	595
Income tax expense	0
Net income (loss)	3,695	595
Noncontrolling interests	0
Net income (loss) attributable to the Company	3,695	595
Eliminations and Adjustments [Member]
Condensed Income Statements, Captions [Line Items]
Total operating revenues	-401	16
Total operating expenses	-401	16
Operating income (loss)	0
Total other non-operating income (expense)	-3,278	-756
Income Before Income Taxes	-3,278	-756
Income tax expense	0
Net income (loss)	-3,278	-756
Noncontrolling interests	-417	161
Net income (loss) attributable to the Company	($3,695)	($595)

Consolidated_Sponsored_Investm6

Consolidated Sponsored Investment Products - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	$254,481	$236,652
Liabilities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	9,685	8,356
Liabilities [Member] | Derivatives Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	172	191
Liabilities [Member] | Short Sales [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	9,513	8,165
Level 1 [Member] | Liabilities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	9,104	7,682
Level 1 [Member] | Liabilities [Member] | Derivatives Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	129	191
Level 1 [Member] | Liabilities [Member] | Short Sales [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	8,975	7,491
Level 2 [Member] | Liabilities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	581	674
Level 2 [Member] | Liabilities [Member] | Derivatives Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	43
Level 2 [Member] | Liabilities [Member] | Short Sales [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	538	674
Level 3 [Member] | Liabilities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	0
Level 3 [Member] | Liabilities [Member] | Derivatives Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	0
Level 3 [Member] | Liabilities [Member] | Short Sales [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	0
Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	254,748	237,033
Assets [Member] | Debt Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	145,304	136,115
Assets [Member] | Equity Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	109,177	100,537
Assets [Member] | Derivatives Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	267	381
Assets [Member] | Level 1 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	108,496	82,571
Assets [Member] | 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
Assets [Member] | Level 1 [Member] | Equity Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	108,408	82,417
Assets [Member] | Level 1 [Member] | Derivatives Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	88	154
Assets [Member] | Level 2 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	145,339	153,397
Assets [Member] | Level 2 [Member] | Debt Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	144,391	135,050
Assets [Member] | Level 2 [Member] | Equity Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	769	18,120
Assets [Member] | Level 2 [Member] | Derivatives Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	179	227
Assets [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	913	1,065
Assets [Member] | Level 3 [Member] | Debt Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total Investments of Consolidated Sponsored Investment Products at Fair Value	913	1,065
Assets [Member] | 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
Assets [Member] | Level 3 [Member] | Derivatives Assets [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 $)	3 Months Ended
	Mar. 31, 2015
Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$1,065,000
Paydowns	-1,000
Transferred to Level 2	-152,000
Change in unrealized gain/loss	1,000
Ending balance	$913,000

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (Subsequent Event [Member], USD $)	0 Months Ended
In Millions, unless otherwise specified	11-May-15	Apr. 10, 2015
	MutualFund
Subsequent Event [Line Items]
Number of open-end mutual funds	5
ETF Issuer Solutions [Member]
Subsequent Event [Line Items]
Investment to acquire majority interest		$4.80