Business Combinations (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the identified acquired assets, liabilities assumed and redeemable noncontrolling interests as of the acquisition date:

	July 1, 2018
	(in thousands)
Assets:
Cash and cash equivalents	$	2,505
Investments	262
Accounts receivable	6,649
Furniture, equipment and leasehold improvements	70
Intangible assets	62,000
Goodwill	120,213
Other assets	659
Total Assets	192,358
Liabilities
Accrued compensation and benefits	824
Accounts payable and accrued liabilities	6,534
Total liabilities	7,358
Redeemable noncontrolling interests	55,500
Total Net Assets Acquired	$	129,500

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

In connection with the allocation of the purchase price, the Company identified the following intangible assets:

	July 1, 2018
	Approximate Fair Value		Weighted Average of Useful Life
	(in thousands)		(in years)
Definite-lived intangible assets:
Institutional and retail separate account investment contracts	$	49,000	6
Trade name	7,000		10
Non-competition agreements	6,000		5
Total definite-lived intangible assets	$	62,000

Pro Forma Information

The following unaudited proforma condensed consolidated results of operations are provided for illustrative purposes only and assume that the Acquisition, including adjustments for transaction and integration expenses, occurred on January 1, 2017. This unaudited information should not be relied upon as indicative of historical results that would have been obtained if the Acquisition had occurred on that date, nor of the results that may be obtained in the future.

	Years Ended December 31,
(in thousands)	2018		2017
Total Revenues	$	569,465	$	454,156
Net Income (Loss) Attributable to Common Stockholders	$	69,341	$	26,175