CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Operating activities
Net income	$ 57,928	$ 46,129
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in net gains from partnerships	(4,445)	(268)
Depreciation and amortization	580	642
Stock based compensation expense	2,615	1,920
Deferred income taxes	1,708	(1,358)
Tax benefit from exercise of stock options	108	0
Foreign currency translation gain/(loss)	(29)	5
Other-than-temporary loss on available for sale securities	20	0
Fair value of donated securities	393	111
Gains on sales of available for sale securities	(1,503)	(584)
Accretion of zero coupon debentures	2,908	3,393
Loss on extinguishment of debt	6,307	0
(Increase) decrease in assets:
Investments in trading securities	(60)	5,417
Investments in partnerships:
Contributions to partnerships	(26,893)	(13,283)
Distributions from partnerships	29,627	3,312
Receivable from brokers	(34,246)	(26,130)
Investment advisory fees receivable	2,970	21,339
Income tax receivable and deferred tax assets	(979)	98
Other assets	6,045	(2,424)
Increase (decrease) in liabilities:
Payable to brokers	17,268	14,036
Income taxes payable and deferred tax liabilities	(2,802)	3,726
Compensation payable	16,301	7,787
Mandatorily redeemable noncontrolling interests	(30)	47
Accrued expenses and other liabilities	5,394	9,579
Total adjustments	21,257	27,365
Net cash provided by (used in) operating activities	79,185	73,494
Investing activities
Purchases of available for sale securities	(1,264)	(4,374)
Proceeds from sales of available for sale securities	3,068	5,685
Return of capital on available for sale securities	1,650	1,262
Net cash provided by investing activities	3,454	2,573
Financing activities
Contributions from redeemable noncontrolling interests	22,662	17,490
Redemptions of redeemable noncontrolling interests	(8,566)	(2,340)
Issuance of 5.875% Senior notes due June 1, 2021	0	100,000
Issuance costs on the 5.875% Senior notes due June 1, 2021	0	(934)
Proceeds from exercise of stock options	781	0
Repurchase of zero coupon subordinated debentures	(56,215)	0
Dividends paid	(16,558)	(2,966)
Purchase of treasury stock	(12,386)	(20,008)
Net cash provided by (used in) financing activities	(70,282)	91,242
Effect of exchange rates on cash and cash equivalents	(12)	(3)
Net increase (decrease) in cash and cash equivalents	12,345	167,306
Cash and cash equivalents at beginning of period	276,340	169,601
Decrease in cash from deconsolidation of partnership	0	(1,251)
Cash and cash equivalents at end of period	288,685	335,656
Supplemental disclosures of cash flow information:
Cash paid for interest	4,684	3,554
Cash paid for taxes	$ 31,639	$ 23,587