Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 33,536	$ 37,469
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,221	4,367
Write down of impaired assets	600
Amortization of deferred sales commissions	1,436	7,635
Share-based compensation	13,156	13,522
Excess tax benefits from share-based payment arrangements		(312)
Investments gain, net	(2,975)	(5,144)
Net purchases and sales or maturities of trading securities		(25,000)
Deferred income taxes	4,239	2,350
Net change in trading securities held by consolidated sponsored funds	12,434	(43,991)
Other	43	118
Changes in assets and liabilities:
Cash and cash equivalents - restricted	(14,396)	27,539
Customer and other receivables	17,070	30,484
Payable to investment companies for securities and payable to customers	(6,496)	(71,613)
Receivables from funds and separate accounts	3,233	5,890
Other assets	(5,307)	(4,565)
Accounts payable and payable to third party brokers	(6,876)	(22,483)
Other liabilities	(5,749)	(3,547)
Net cash provided by (used in) operating activities	49,169	(47,281)
Cash flows from investing activities:
Proceeds from sales of available for sale and equity method securities	12,105	100
Additions to property and equipment	(1,885)	(5,741)
Net cash of sponsored funds on consolidation		6,887
Other		(298)
Net cash provided by investing activities	10,220	948
Cash flows from financing activities:
Dividends paid	(38,771)	(38,115)
Repurchase of common stock	(7,976)	(25,598)
Net redemptions, distributions and deconsolidations of redeemable noncontrolling interests in sponsored funds	(2,617)	(1,692)
Excess tax benefits from share-based payment arrangements		312
Other	44	43
Net cash used in financing activities	(49,320)	(65,050)
Net increase (decrease) in cash and cash equivalents	10,069	(111,383)
Cash and cash equivalents at beginning of period	555,102	558,495
Cash and cash equivalents at end of period	$ 565,171	$ 447,112