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Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Advisory fees        
Asset based $ 17,956 $ 14,485 $ 49,989 $ 42,677
Performance based 26 69 2,561 1,251
Trust fees 4,672 3,715 13,463 10,943
Other, net 344 672 560 2,000
Total revenues 22,998 18,941 66,573 56,871
EXPENSES:        
Employee compensation and benefits 12,480 11,397 36,230 32,196
Sales and marketing 326 350 947 823
Westwood mutual funds 599 292 1,465 776
Information technology 690 649 2,024 1,874
Professional services 887 739 2,966 3,681
General and administrative 1,250 1,183 3,723 3,354
Total expenses 16,232 14,610 47,355 42,704
Income before income taxes 6,766 4,331 19,218 14,167
Provision for income taxes 2,447 1,827 7,187 5,680
Net income 4,319 2,504 12,031 8,487
Available-for-sale investments:        
Change in unrealized gain on investment securities       (401)
Less: reclassification adjustment for net gains included in earnings       (908)
Net change (net of income taxes of $0, $0, $0 and $(714), respectively)       (1,309)
Foreign currency translation adjustments 104 78 (131) 60
Total comprehensive income $ 4,423 $ 2,582 $ 11,900 $ 7,238
Earnings per share:        
Basic $ 0.59 $ 0.35 $ 1.64 $ 1.19
Diluted $ 0.57 $ 0.34 $ 1.59 $ 1.16
Weighted average shares outstanding:        
Basic 7,374,600 7,166,020 7,347,376 7,138,878
Diluted 7,558,136 7,323,245 7,586,488 7,301,014