CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 58,693	$ 81,917
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	973	1,222
Accretion of discounts and amortization of premiums	53	34
Stock based compensation expense	4,186	2,841
Deferred income taxes	7,904	(4,777)
Foreign currency translation gain	39	35
Cost basis of donated securities	0	2,601
Unrealized loss on securities	6,154	4,717
Net realized loss on securities	1,555	74
Impairment charge on intangible asset	589	0
(Increase) decrease in assets:
Investments in securities	(12)	(3,154)
Receivable from brokers	(4,844)	2,434
Investment advisory fees receivable	7,297	(10,416)
Receivable from affiliates	(938)	257
Income taxes receivable	(977)	(1,388)
Other assets	(1,736)	(2,037)
Increase (decrease) in liabilities:
Payable to brokers	0	(112)
Income taxes payable	3,152	3,145
Compensation payable	(42,738)	3,869
Payable to affiliates	(139)	2,941
Accrued expenses and other liabilities	1,523	5,788
Total adjustments	(17,959)	8,074
Net cash provided by operating activities	40,734	89,991
Cash flows from investing activities:
Purchases of securities	(120,724)	(5,084)
Proceeds from sales of securities	57,189	314
Return of capital on securities	24	14
Net cash used in investing activities	(63,511)	(4,756)
Cash flows from financing activities:
Dividends paid	(25,906)	(2,756)
Purchase of treasury stock	(3,902)	(37,357)
Repayment of principal portion of lease liability	(218)	(180)
Net cash used in financing activities	(30,026)	(40,293)
Effect of exchange rates on cash and cash equivalents	(8)	(8)
Net increase (decrease) in cash and cash equivalents	(52,811)	44,934
Cash and cash equivalents, beginning of period	86,136	41,202
Cash and cash equivalents, end of period	33,325	86,136
Supplemental disclosures of cash flow information:
Cash paid for interest	2,581	2,539
Cash paid for taxes	$ 16,546	$ 26,874