Consolidated Statements of Financial Condition (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Assets
Cash and cash equivalents ($7.1 million and $7.3 million restricted from use at December 31, 2012 and 2011, respectively)	$ 50,324	$ 62,050
Advisory fees receivable, net of allowance for doubtful accounts of $0.0 million and $0.1 million at December 31, 2012 and 2011, respectively	54,444	53,274
Other receivables	1,554	1,130
Property and equipment, net of accumulated depreciation of $54.8 million and $50.2 million at December 31, 2012 and 2011, respectively	14,404	15,995
Other investments	34,215	71,219
Investments in merchant banking funds	16,772	41,642
Goodwill	164,890	161,664
Deferred tax asset	47,512	48,307
Other assets	2,855	5,462
Total assets	386,970	460,743
Liabilities and Equity
Compensation payable	21,419	34,913
Accounts payable and accrued expenses	23,669	15,506
Financing liability	0	14,302
Bank loan payable	29,125	28,100
Deferred tax liability	9,245	20,368
Total liabilities	83,458	113,189
Common stock, par value $0.01 per share; 100,000,000 shares authorized, 36,513,507 and 35,775,557 shares issued as of December 31, 2012 and 2011, respectively; 28,148,754 and 28,647,312 shares outstanding as of December 31, 2012 and 2011, respectively	365	358
Contingent convertible preferred stock, par value $0.01 per share; 10,000,000 shares authorized, 1,099,877 shares issued and outstanding as of December 31, 2012 and 2011	46,950	46,950
Restricted stock units	107,253	99,916
Additional paid-in capital	458,642	412,283
Exchangeable shares of subsidiary; 257,156 shares issued as of December 31, 2012 and 2011; 32,804 and 110,191 shares outstanding as of December 31, 2012 and 2011, respectively	1,958	6,578
Retained earnings	159,918	173,374
Accumulated other comprehensive income	6,624	3,128
Treasury stock, at cost, par value $0.01 per share; 9,024,679 and 7,128,245 shares as of December 31, 2012 and 2011, respectively	(479,551)	(396,386)
Stockholders' equity	302,159	346,201
Noncontrolling interests	1,353	1,353
Total equity	303,512	347,554
Total liabilities and equity	$ 386,970	$ 460,743