Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities:
Net income (loss) allocated to common stockholders	$ (413)	$ 37,095
Non-cash items included in net income allocated to common stockholders:
Depreciation and amortization	2,323	2,432
Net investment (gains) losses	265	106
Restricted stock units recognized	31,740	31,753
Deferred taxes	(2,816)	(3,068)
Loss (gain) on fair value of contingent obligation	(5,639)	1,422
Changes in operating assets and liabilities:
Advisory fees receivable	13,798	(12,200)
Other receivables and assets	(947)	(2,184)
Deferred tax asset, net	0	7,679
Compensation payable	(19,424)	(1,340)
Accounts payable and accrued expenses	191	924
Current income taxes payable	(13,482)	(3,220)
Net cash provided by operating activities	5,596	59,399
Investing activities:
Distributions from investments	222	0
Purchases of property and equipment	(1,674)	(1,332)
Net cash used in investing activities	(1,452)	(1,332)
Financing activities:
Proceeds from revolving bank loan	69,355	83,229
Repayment of revolving bank loan	(49,650)	(60,529)
Repayment of bank term loans	(16,875)	(16,875)
Dividends paid	(46,190)	(46,432)
Purchase of treasury stock	(13,040)	(20,676)
Net tax (cost) from the delivery of restricted stock units and payment of dividend equivalents	0	(5,408)
Net cash used in financing activities	(56,400)	(66,691)
Effect of exchange rate changes on cash and cash equivalents	4,818	(5,519)
Net decrease in cash and cash equivalents	(47,438)	(14,143)
Cash and cash equivalents, beginning of period	98,313	69,962
Cash and cash equivalents, end of period	50,875	55,819
Supplemental disclosure of cash flow information:
Cash paid for interest	2,469	2,278
Cash paid for taxes, net of refunds	$ 18,538	$ 19,814