Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net income (loss)	$ 151,491	$ (27,516)	$ 168,682
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Bad debt expense (benefit)	1,646	1,099	2,630
Depreciation and amortization	10,444	8,317	7,975
Equity-based compensation	161,445	158,189	128,938
Deferred tax provision (benefit)	35,068	(4,292)	26,786
Other	(13,447)	(11,371)	9,197
Changes in assets and liabilities:
Accounts receivable	(1,835)	(4,014)	(20,320)
Accrued and other receivables	(2,754)	(3,900)	22,026
Prepaid expenses and other assets	(4,439)	5,317	(14,987)
Deferred compensation	(1,260)	(1,957)	(3,762)
Compensation payable	87,054	14,889	(255,291)
Accounts payable, accrued expenses and other liabilities	21	23,744	(45,043)
Deferred revenue	944	(3,125)	3,227
Dividends received	3,107	3,092	2,936
Net cash provided by (used in) operating activities	427,485	158,472	32,994
Cash flows from investing activities
Purchases of investments	(169,457)	(210,579)	(334,743)
Proceeds from sales of investments	188,284	275,848	332,517
Notes issued to employees	(6,580)	0	(3,000)
Proceeds from partial sale of equity method investment	16,957	0	0
Purchases of equipment and leasehold improvements	(12,092)	(16,695)	(5,957)
Net cash provided by (used in) investing activities	17,112	48,574	(11,183)
Cash flows from financing activities
Payments for dividends and tax distributions	(184,160)	(182,156)	(174,651)
Payments for treasury stock purchases	(10,842)	(47,002)	(147,537)
Payments under tax receivable agreement	(20,103)	0	(6,613)
Other proceeds (distributions)	(0)	(15)	1,900
Net cash provided by (used in) financing activities	(215,105)	(229,173)	(326,901)
Effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash	(3,528)	1,803	(8,385)
Net increase (decrease) in cash, cash equivalents, and restricted cash	225,964	(20,324)	(313,475)
Cash, cash equivalents, and restricted cash, beginning of period	187,215	207,539	521,014
Cash, cash equivalents, and restricted cash, end of period	413,179	187,215	207,539
Cash paid (received) during the period for:
Income taxes, net	2,616	(3,625)	76,422
Other non-cash activity
Class A Partnership Units or other equity converted into Class A Common Stock	1,720	704	7,478
Dividends in kind	20,187	21,857	20,804
Non-cash settlement of accounts receivable	261	0	10,802
Forfeiture of fully-vested Group LP units or other equity units	$ 876	$ 889	$ 0