Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
Jun. 30, 2013	Jun. 30, 2012
Cash Flows from Operating Activities:
Net Income	$ 28,968	$ 13,817
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and other asset amortization	1,172	759
Intangible asset and other amortization	2,331	1,985
Stock-based compensation	4,044	3,750
Amortization of deferred commissions	6,165	5,561
Payments of deferred commissions	(9,088)	(5,336)
Realized and unrealized gains on trading securities	(602)	(1,010)
Realized and unrealized losses on investments of consolidated sponsored investment products	2,784
Sale of trading securities, net	736	862
Purchase of investments by consolidated sponsored investment products, net	(13,798)
Equity in earnings of affiliates	12
Deferred income taxes	16,869	9,055
Changes in operating assets and liabilities:
Accounts receivable	(7,491)	(5,601)
Prepaid expenses and other assets	(2,098)	(255)
Accounts payable and accrued liabilities	(9,915)	(9,426)
Other liabilities	2,087	2,005
Net cash provided by operating activities	22,176	16,166
Cash Flows from Investing Activities:
Capital expenditures	(1,271)	(2,337)
Change in cash and cash equivalents of consolidated sponsored investment products due to deconsolidation	(734)
Acquisition of equity method investee	(3,364)
Purchase of available-for-sale securities	(96)	(187)
Net cash used in investing activities	(5,465)	(2,524)
Cash Flows from Financing Activities:
Contingent consideration paid for acquired investment management contracts	(285)	(350)
Repurchase of common shares	(14,966)
Proceeds from exercise of stock options	361	1,334
Taxes paid related to net share settlement of restricted stock units	(7,172)	(11,208)
Contributions of noncontrolling interests, net	12,790
Net cash used in financing activities	(9,272)	(10,224)
Net increase in cash and cash equivalents	7,439	3,418
Cash and cash equivalents, beginning of period	63,446	45,267
Cash and Cash Equivalents, end of period	70,885	48,685
Non-Cash Financing Activities:
Preferred stock conversion		$ 35,217

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The amount of expense recognized in the current period for the periodic realization of capitalized fees that were paid to salespeople, distributors, brokers, and agents at the time of the conclusion of the sale. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.