Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities
Net income (loss)	$ 25,619	$ 19,961
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Bad debt expense	465	177
Depreciation and amortization	736	620
(Income) loss from equity method investments	(2,069)	(2,865)
Equity-based compensation	16,693	8,549
Deferred tax provision	221	931
Other	21	(1)
Changes in assets and liabilities:
Accounts receivable	6,766	4,230
Other receivables	1,026	(765)
Prepaid expenses and other assets	394	(880)
Deferred compensation	(4,019)	(2,245)
Compensation payable	(95,298)	(113,737)
Accounts payable and accrued expenses	(4,448)	(3,918)
Deferred revenue	2,194	1,473
Dividends received	803	130
Other liabilities	228	(219)
Net cash provided by (used in) operating activities	(50,668)	(88,559)
Cash flows from investing activities
Purchase of investments	(27,970)	(9,999)
Proceeds from sales of investments	18,000	39,999
Return of capital from equity method investments	9
Notes issued to employees	(352)
Purchase of equipment and leasehold improvements	(989)	(569)
Change in restricted cash	25	(46)
Net cash provided by (used in) investing activities	(11,277)	29,385
Cash flows from financing activities
Dividends and distributions	(92,844)	(35,453)
Purchase of treasury stock	(1,847)	(4,327)
Excess tax benefits from equity-based compensation	40	3
Net cash provided by (used in) financing activities	(94,651)	(39,777)
Effect of exchange rate fluctuations on cash and cash equivalents	(872)	(1,134)
Net increase (decrease) in cash and cash equivalents	(157,468)	(100,085)
Cash and cash equivalents, beginning of period	248,022	197,944
Cash and cash equivalents, end of period	90,554	97,859
Cash paid during the period for:
Income taxes	9,468	7,167
Other non-cash activity
Dividend equivalents issued	$ 5,351	$ 455