Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Disaggregation of Revenue

Revenue from advisory fees is disaggregated into categories based on the composition of the Company's client base and advisory fee structure for the three and nine months ended September 30, 2018 and 2017:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
Revenue	2018			2017		2018			2017
	(in thousands)
Separately Managed Accounts
Asset-Based Fees	$	19,578		$	19,407	$	58,820		$	55,593
Performance-Based Fees		—			349		—			410
Total Separately Managed Fees		19,578			19,756		58,820			56,003
Sub-Advised Accounts
Asset-Based Fees	$	15,860		$	13,493	$	46,772		$	38,157
Decrease in Asset-Based Fees		—			—		—			—
Performance-Based Fees		756			580		2,551			1,280
Total Sub-Advised Fees		16,616			14,073		49,323			39,437
Pzena Funds
Asset-Based Fees	$	3,537		$	2,400	$	9,658		$	6,946
Expense Cap Reimbursements		(151	)		—		(633	)		—
Performance-Based Fees		—			—		12			—
Total Pzena Funds Fees		3,386			2,400		9,037			6,946
Total	$	39,580		$	36,229	$	117,180		$	102,386

Schedule of Cash and Cash Equivalents

The following table reconciles cash, cash equivalents, and restricted cash per the consolidated statements of cash flows to the consolidated statements of financial condition.

	September 30, 2018		June 30, 2018		December 31, 2017		September 30, 2017		June 30, 2017		December 31, 2016
	(in thousands)
Cash and Cash Equivalents	$	31,913	$	52,541	$	63,414	$	47,910	$	34,749	$	43,522
Restricted Cash		1,026		1,024		1,017		4,590		4,298		3,636
Total	$	32,939	$	53,565	$	64,431	$	52,500	$	39,047	$	47,158

Schedule of Restricted Cash

The following table reconciles cash, cash equivalents, and restricted cash per the consolidated statements of cash flows to the consolidated statements of financial condition.

	September 30, 2018		June 30, 2018		December 31, 2017		September 30, 2017		June 30, 2017		December 31, 2016
	(in thousands)
Cash and Cash Equivalents	$	31,913	$	52,541	$	63,414	$	47,910	$	34,749	$	43,522
Restricted Cash		1,026		1,024		1,017		4,590		4,298		3,636
Total	$	32,939	$	53,565	$	64,431	$	52,500	$	39,047	$	47,158