Condensed Consolidated Statements of Financial Condition (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012
Assets
Cash and cash equivalents	$ 36,951	$ 83,538
Cash collateral pledged	10,905	9,160
Securities owned, at fair value	472,798	624,127
Securities borrowed	459,719	408,096
Other investments	80,452	84,930
Receivable from brokers	53,310	71,306
Fees receivable, net of allowance	36,581	34,707
Due from related parties	20,045	21,022
Fixed assets, net of accumulated depreciation and amortization of $31,443 and $30,003, respectively	31,525	32,202
Goodwill	36,207	28,545
Intangible assets, net of accumulated amortization of $23,790 and $22,945, respectively	14,915	12,984
Other assets	23,538	16,278
Consolidated Funds
Cash and cash equivalents	3,820	3,559
Securities owned, at fair value	0	3,525
Other investments, at fair value	193,497	204,205
Other assets	6,699	292
Total Assets	1,480,962	1,638,476
Liabilities
Securities sold, not yet purchased, at fair value	228,833	177,937
Securities sold under agreement to repurchase	29,241	165,945
Securities loaned	459,336	410,441
Payable to brokers	88,706	188,788
Compensation payable	14,898	45,752
Short-term borrowings and other debt	5,379	4,132
Fees payable	3,448	5,277
Due to related parties	618	662
Accounts payable, accrued expenses and other liabilities	60,239	55,425
Consolidated Funds
Capital withdrawals payable	5,782	2,891
Accounts payable, accrued expenses and other liabilities	302	414
Total Liabilities	896,782	1,057,664
Commitments and Contingencies (Note 13)
Redeemable non-controlling interests	81,031	85,703
Stockholders' equity
Preferred stock, par value $0.01 per share; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	724,235	713,211
(Accumulated deficit) retained earnings	(190,441)	(187,865)
Accumulated other comprehensive income (loss)	335	356
Total Stockholders' Equity	503,149	495,109
Total Liabilities and Stockholders' equity	1,480,962	1,638,476
Common Stock Class A
Stockholders' equity
Common stock	1,160	1,135
Less: Class A common stock held in treasury, at cost, 11,447,516 and 11,292,220 shares as of March 31, 2013 and December 31, 2012, respectively.	(32,140)	(31,728)
Common Stock Class B
Stockholders' equity
Common stock	$ 0	$ 0