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Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING:
We operate two segments: Advisory and Trust. These segments are managed separately based on the types of products and services offered and their related client bases. The Company’s segment information is prepared on the same basis that management uses to review the financial information for operational decision-making purposes.
The Company adopted ASU 2023-07 during the year ended December 31, 2024. The Company's Chief Operating Decision Maker ("CODM"), our Chief Executive Officer, evaluates the performance of our segments based primarily on fee revenues.
Westwood Holdings Group, Inc., the parent company of Advisory and Trust, does not have revenues and is the entity in which we record typical holding company expenses including employee compensation and benefits for holding company employees, directors’ fees and investor relations costs. All segment accounting policies are the same as those described in the summary of significant accounting policies. Intersegment balances that eliminate in consolidation have been applied to the appropriate segment.
Advisory
Our Advisory segment provides investment advisory services to (i) corporate pension and profit sharing plans, public employee retirement funds, Taft-Hartley plans, endowments, foundations and individuals, (ii) sub-advisory relationships where Westwood provides investment management services to the Westwood Funds®, funds offered by other financial institutions and funds offered by our Trust segment and (iii) pooled investment vehicles, including collective investment trusts. Westwood Management provides investment advisory services to similar clients, which are included in our Advisory segment.
Trust
Westwood Trust provides trust and custodial services and participation in common trust funds that it sponsors to institutions and high net worth individuals. Westwood Trust is included in our Trust segment.
(in thousands)AdvisoryTrustWestwood
Holdings		EliminationsConsolidated
Year Ended December 31, 2024     
Revenues:
Net fee revenues from external sources$71,148 $21,904 $— $— $93,052 
Net intersegment revenues5,959 186 — (6,145)— 
Other revenue1,669 — — — 1,669 
Total revenues78,776 22,090 — (6,145)94,721 
Interest income$1,146 $490 $— $— $1,636 
Net income (loss)$17,605 $2,751 $(18,124)$(21)$2,211 
Segment assets$309,418 $46,438 $14,516 $(220,383)$149,989 
Segment goodwill$23,100 $16,401 $— $— $39,501 
Segment equity method investments$4,250 $— $— $— $4,250 
Expenditures for long-lived assets$15 $75 $19 $— $109 
Year Ended December 31, 2023     
Revenues:
Net fee revenues from external sources$68,656 $20,591 $— $— $89,247 
Net intersegment revenues6,270 279 — (6,549)— 
Other revenue534 — — — 534 
Total revenues75,460 20,870 — (6,549)89,781 
Interest income$518 $342 $— $— $860 
Net income (loss)$14,636 $1,776 $(5,841)$— $10,571 
Segment assets$285,179 $46,754 $14,256 $(191,022)$155,167 
Segment goodwill$23,100 $16,401 $— $— $39,501 
Segment equity method investments$4,284 $— $— $— $4,284 
Expenditures for long-lived assets$135 $94 $(82)$— $147 
Year Ended December 31, 2022     
Revenues:
Net fee revenues from external sources$47,703 $21,686 $— $— $69,389 
Net intersegment revenues2,080 336 — (2,416)— 
Other revenue(708)— — — (708)
Total revenues49,075 22,022 — (2,416)68,681 
Interest income$301 $113 $— $— $414 
Net income (loss)$11,062 $1,005 $(16,695)$— $(4,628)
Segment assets$283,027 $53,644 $30,308 $(220,552)$146,427 
Segment goodwill$19,331 $16,401 $— $— $35,732 
Segment equity method investments$6,574 $— $— $— $6,574 
Expenditures for long-lived assets$137 $84 $99 $— $320 

Geographical information
Refer to Note 4, “Revenue” for our revenue disaggregated by our clients' geographical locations. As of December 31, 2024 and 2023, all of our property and equipment was in the United States.