Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2017	Feb. 15, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	WESTWOOD HOLDINGS GROUP INC
Entity Central Index Key	0001165002
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 455,655,342
Entity Common Stock, Shares Outstanding		8,897,995

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 54,249	$ 33,679
Accounts receivable	21,660	23,429
Investments, at fair value	51,324	56,485
Prepaid Taxes	4,269	0
Other current assets	6,612	2,364
Total current assets	138,114	115,957
Goodwill	27,144	27,144
Deferred income taxes	3,407	10,903
Intangible assets, net	19,804	21,394
Property and equipment, net of accumulated depreciation of $5,673 and $4,590	4,190	4,280
Assets	192,659	179,678
Current Liabilities:
Accounts payable and accrued liabilities	3,501	2,641
Dividends payable	7,357	6,679
Compensation and benefits payable	19,075	17,200
Income taxes payable	1,598	3,148
Total current liabilities	31,531	29,668
Accrued dividends	1,717	1,767
Accrued Income Taxes, Noncurrent	1,017	0
Deferred rent	1,998	2,174
Total long-term liabilities	4,732	3,941
Total liabilities	36,263	33,609
Commitments and contingencies
Stockholders’ Equity:
Common stock, $0.01 par value, authorized 25,000,000 shares, issued 9,980,827 and outstanding 8,899,587 shares at December 31, 2017; issued 9,801,938 and outstanding 8,810,375 shares at December 31, 2016	100	98
Additional paid-in capital	179,241	162,730
Treasury stock, at cost – 1,081,240 shares at December 31, 2017; 991,563 shares at December 31, 2016	(49,788)	(44,353)
Foreign currency translation adjustment, net of tax of $46 and $10	(1,764)	(4,287)
Accumulated other comprehensive loss	(1,764)	(4,287)
Retained earnings	28,607	31,881
Total stockholders’ equity	156,396	146,069
Total liabilities and stockholders’ equity	$ 192,659	$ 179,678

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation	$ 5,673	$ 4,590
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	9,980,827	9,801,938
Common stock, shares outstanding	8,899,587	8,810,375
Treasury stock, shares	1,081,240	991,563

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME $ in Thousands, CAD in Millions	12 Months Ended
	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2015 USD ($) $ / shares shares
Advisory fees:
Asset-based	$ 99,201	$ 91,492	$ 99,275
Performance-based	1,411	635	2,698
Trust fees	31,621	30,313	28,795
Other revenues, net	1,552	581	168
Total revenues	133,785	123,021	130,936
Expenses:
Employee compensation and benefits	64,955	61,509	63,562
Sales and marketing	2,042	1,919	1,839
Westwood mutual funds	3,938	3,155	3,435
Information technology	7,785	7,735	5,732
Professional services	5,916	5,622	5,617
Litigation Settlement, Expense	4,000	0	0
General and administrative	11,247	9,071	8,531
Total expenses	99,892	89,011	88,716
Income (loss) before income taxes	33,893	34,010	42,220
Provision for income taxes	13,904	11,363	15,115
Net income	19,989	22,647	27,105
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	2,523	401	(3,457)
Other comprehensive income (loss)	2,523	401	(3,457)
Total comprehensive income	$ 22,512	$ 23,048	$ 23,648
Earnings per share:
Basic (in dollars per share) \| $ / shares	$ 2.45	$ 2.84	$ 3.49
Diluted (in dollars per share) \| $ / shares	$ 2.38	$ 2.77	$ 3.33
Weighted average shares outstanding:
Basic (in shares) \| shares	8,147,742	7,961,891	7,756,647
Diluted (in shares) \| shares	8,400,022	8,165,475	8,149,399

CONSOLIDATED STATEMENTs OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Westwood Holdings Group, Inc. Common Stock, Par	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Woodway Financial Advisors Additional Paid-In Capital
BALANCE at Dec. 31, 2014	$ 110,007	$ 90	$ 119,859	$ (29,028)	$ (1,231)	$ 20,317
BALANCE, shares at Dec. 31, 2014		8,308,460
Net income	27,105					27,105
Other comprehensive loss	(3,457)				(3,457)
Stock Issued During Period, Value, New Issues		$ 1
Issuance of common stock for acquisition, shares		109,712
Issuance of common stock for acquisition	5,292
Issuance of restricted stock, net of forfeitures		$ 3	(3)
Issuance of restricted stock, net of forfeitures, shares		305,342
Stock-based compensation expense	17,574		17,574
Reclassification of compensation liability to be paid in shares	338		338				$ 5,291
Tax benefit related to stock-based compensation	1,831		1,831
Dividends declared ($2.07 in 2015, $1.82 per share in 2014, $1.64 per share in 2013)	(17,748)					(17,748)
Purchases of treasury stock	(1,327)			(1,327)
Purchases of treasury stock, shares		(21,818)
Issuance of treasury stock under employee stock plans, shares		20,375
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures			(1,093)	1,093
Restricted stock returned for payment of taxes	(5,648)			(5,648)
Restricted stock returned for payment of taxes, shares		(91,384)
BALANCE at Dec. 31, 2015	133,967	$ 94	143,797	(34,910)	(4,688)	29,674
BALANCE, shares at Dec. 31, 2015		8,630,687
Net income	22,647					22,647
Other comprehensive loss	401				401
Stock Issued During Period, Value, New Issues		$ 1
Issuance of common stock for acquisition, shares		80,253
Issuance of common stock for acquisition	3,734
Issuance of restricted stock, net of forfeitures		$ 3	(3)
Issuance of restricted stock, net of forfeitures, shares		296,376
Stock-based compensation expense	15,954		15,954
Reclassification of compensation liability to be paid in shares	167		167				$ 3,733
Adjustments to Additional Paid in Capital, Income Tax Deficiency from Share-based Compensation	(256)		(256)
Dividends declared ($2.07 in 2015, $1.82 per share in 2014, $1.64 per share in 2013)	(20,440)					(20,440)
Purchases of treasury stock	(6,248)			(6,248)
Purchases of treasury stock, shares		(128,026)
Issuance of treasury stock under employee stock plans, shares		12,048
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures			(662)	662
Restricted stock returned for payment of taxes	(3,857)			(3,857)
Restricted stock returned for payment of taxes, shares		(80,963)
BALANCE at Dec. 31, 2016	$ 146,069	$ 98	162,730	(44,353)	(4,287)	31,881
BALANCE, shares at Dec. 31, 2016	8,810,375	8,810,375
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			711			(711)
Net income	$ 19,989
Other comprehensive loss	2,523
Issuance of restricted stock, net of forfeitures		$ 2	(2)
Issuance of restricted stock, net of forfeitures, shares		178,889
Stock-based compensation expense	16,430		16,430
Reclassification of compensation liability to be paid in shares	591		591
Adjustments to Additional Paid in Capital, Income Tax Deficiency from Share-based Compensation	0
Dividends declared ($2.07 in 2015, $1.82 per share in 2014, $1.64 per share in 2013)	(22,552)					(22,552)
Purchases of treasury stock	(1,326)			(1,326)
Purchases of treasury stock, shares		(23,822)
Issuance of treasury stock under employee stock plans, shares		22,091
Issuance of treasury stock under employee stock plans			(1,219)	1,219
Restricted stock returned for payment of taxes	(5,328)			(5,328)
Restricted stock returned for payment of taxes, shares		(87,946)
BALANCE at Dec. 31, 2017	$ 156,396	$ 100	$ 179,241	$ (49,788)	$ (1,764)	$ 28,607
BALANCE, shares at Dec. 31, 2017	8,899,587	8,899,587

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Cash flows from operating activities:
Net income	$ 19,989	$ 22,647	$ 27,105
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,044	969	1,050
Amortization of intangible assets	1,872	1,960	1,546
Unrealized losses (gains) on trading investments	(617)	(510)	613
Stock-based compensation expense	16,430	15,954	17,574
Deferred income taxes	7,542	149	(3,285)
Excess tax benefits from stock-based compensation	0	(165)	(1,455)
Other	0	269	(58)
Changes in operating assets and liabilities:
Net sales of investments – trading securities	5,778	16,345	6,684
Accounts receivable	2,161	(3,493)	(5,192)
Other current assets	(4,234)	567	(375)
Accounts payable and accrued liabilities	763	(926)	1,174
Compensation and benefits payable	2,262	(2,848)	2,912
Income taxes payable	(4,816)	(3,655)	6,890
Other liabilities	(165)	129	25
Net cash provided by operating activities	48,009	47,392	55,208
Cash flows from investing activities:
Acquisition of Woodway, net of cash acquired	0	0	(24,133)
Purchases of property, equipment and other	(1,167)	(1,819)	(951)
Proceeds from Sale of Property, Plant, and Equipment	0	9	0
Net cash used in investing activities	(1,167)	(1,810)	(25,084)
Cash flows from financing activities:
Purchases of treasury stock	0	(5,634)	0
Payment for Repurchases of Stock for Benefit Plan	(1,326)	(614)	(1,327)
Restricted stock returned for payment of taxes	(5,328)	(3,857)	(5,648)
Excess tax benefits from stock-based compensation	0	165	1,455
Other Payments to Acquire Businesses	0	(5,562)	0
Cash dividends paid	(21,923)	(19,442)	(16,619)
Net cash used in financing activities	(28,577)	(34,944)	(22,139)
Effect of currency rate changes on cash	2,305	301	(3,376)
Net increase in cash and cash equivalents	20,570	10,939	4,609
Cash and cash equivalents, beginning of year	33,679	22,740	18,131
Cash and cash equivalents, end of year	54,249	33,679	22,740
Supplemental cash flow information:
Cash paid during the year for income taxes	10,770	14,860	11,639
Common stock issued for acquisition	0	3,734	5,292
Non-cash accrued contingent consideration	0	0	9,023
Accrued dividends	9,074	8,446	7,448
Noncash Tenant Improvements	0	1,236	0
Non Cash Accrued PP&E	$ 69	$ 0	$ 0

Description of the Business	12 Months Ended
Description of the Business	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS	DESCRIPTION OF THE BUSINESS: Westwood Holdings Group, Inc. (“Westwood”, “the Company”, we”, “us” or “our”) was incorporated under the laws of the State of Delaware on December 12, 2001. Westwood manages investment assets and provides services for its clients through its wholly-owned subsidiaries, Westwood Management Corp. and Westwood Advisors, L.L.C. (each of which is an SEC registered investment adviser and referred to hereinafter together as “Westwood Management”), Westwood Trust and Westwood International Advisors Inc. (“Westwood International Advisors”). Westwood Management and Westwood International Advisors provide investment advisory services to institutional clients, a family of mutual funds called the Westwood Funds®, other mutual funds, an Ireland-domiciled fund organized pursuant to the European Union’s Undertakings for Collective Investment in Transferable Securities (“the UCITS Fund”), individuals and clients of Westwood Trust. Westwood Trust provides trust and custodial services and participation in self-sponsored common trust funds ("CTFs") to institutions and high net worth individuals. Revenue is largely dependent on the total value and composition of assets under management (“AUM”). Accordingly, fluctuations in financial markets and in the composition of AUM impact our revenues and results of operations. Westwood Management is a registered investment adviser under the Investment Advisers Act of 1940. Westwood Trust is chartered and regulated by the Texas Department of Banking. Westwood International Advisors is registered as a portfolio manager and exempt market dealer with the Ontario Securities Commission and the Autorité des marchés financiers in Québec. Divestiture of our Omaha Operations On September 6, 2017, we entered into an agreement to sell the Omaha-based component of our Private Wealth business, subject to usual and customary closing conditions and the receipt of regulatory approval from the Nebraska Department of Banking. The sale was completed on January 12, 2018. The component is reported within both our Advisory and Trust segments. The sale does not represent a major strategic shift in our business and does not qualify for discontinued operations reporting. See Note 16 “Subsequent Events” for additional discussion of the sale.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation and Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of Westwood and its subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. We assess each legal entity that we manage to determine whether consolidation is appropriate at the onset of the relationship. We first determine whether the entity is a variable interest entity (“VIE”), or a voting interest entity (“VOE”), under U.S. generally accepted accounting principles (“GAAP”) and whether we have a controlling financial interest in the entity. Assessing whether or not an entity is a VOE or VIE and if it requires consolidation involves judgment and analysis. Factors considered in this assessment include, but are not limited to, the legal organization of the entity, our equity ownership and contractual involvement with the entity and any related party or de facto agent implications of our involvement with the entity. We reconsider whether entities are a VIE or VOE whenever contractual arrangements change, the entity receives additional equity or returns equity to its investors or changes in facts and circumstances occur that change the investors’ abilities to direct the activities of the entity. A VIE is an entity in which (i) the total equity investment at risk is not sufficient to enable the entity to finance its activities without subordinated financial support, (ii) the at-risk equity holders, as a group, lack the characteristics of a controlling financial interest or (iii) the entity is structured with disproportionate voting rights, and substantially all of the activities are conducted on behalf of an investor with disproportionately few voting rights. That is, the at-risk equity holders do not have the obligation to absorb significant losses, the right to receive residual returns and the right to direct the activities of the entity that most significantly impact the entity’s economic performance. An enterprise must consolidate all VIEs of which it is the primary beneficiary. We determine if a sponsored investment meets the definition of a VIE by considering whether the fund’s equity investment at risk is sufficient to finance its activities without additional subordinated financial support and whether the fund’s at-risk equity holders absorb any losses, have the right to receive residual returns and have the right to direct the activities of the entity most responsible for the entity’s economic performance. The primary beneficiary of a VIE is defined as the party that, considering the involvement of related parties and de facto agents, has (i) the power to direct the activities of the VIE that most significantly affect its economic performance and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. This evaluation is updated continuously. A VOE is an entity that is outside the scope of the guidance for VIEs. Consolidation of a VOE is required when a reporting entity owns a controlling financial interest in a VOE. Ownership of a majority of the voting interests is the usual condition for a controlling financial interest. We have evaluated all of our advisory relationships with Westwood Investment Funds PLC (the “UCITS Fund”), the Westwood Funds®, limited liability companies ("LLCs") and our relationship as sponsor of the Common Trust Funds ("CTFs") to determine whether each of these entities is a VIE or VOE. Based on our analysis, we determined that the LLCs and CTFs were VIEs, as the at-risk equity holders do not have the ability to direct the activities that most significantly impact the entity’s economic performance, and the Company and its representatives have a majority control of the entity's Board of Directors and can influence the entity's management and affairs. Although we have related parties on the UCITS Fund board of directors, the shareholders have rights to remove the current directors with a simple majority vote, so we determined the UCITS Fund is not a VIE. As the Company and its representatives do not have representation on the Westwood Funds'® independent board of directors, which direct the activities that most significantly impact the entity's economic performance, we determined that the Westwood Funds® were not VIEs. Therefore, the UCITS Fund and the Westwood Funds® should be analyzed under the VOE consolidation method. Based on our analysis of our seed investments in these entities for the year ended December 31, 2017, we have not consolidated the LLCs or CTFs under the VIE method or the UCITS Fund or the Westwood Funds® under the VOE method, and therefore the results of these entities are not included in the Company’s consolidated financial results. We have included the disclosures related to VIEs and VOEs in Note 11 "Variable Interest Entities." Use of Estimates The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents consist of money market accounts and other short-term, highly liquid investments with maturities of three months or less, other than pooled investment vehicles that are considered investments. We maintain some cash and cash equivalents balances with financial institutions that are in excess of Federal Deposit Insurance Corporation insurance limits. The Company has not experienced losses on uninsured cash accounts. Accounts Receivable Accounts receivable represents balances arising from services provided to customers and are recorded on an accrual basis, net of any allowance for doubtful accounts. Accounts receivable are written off when they are determined to be uncollectible. Any allowance for doubtful accounts is estimated based on the Company’s historical amounts written off, existing conditions in the industry, and the financial stability of the customer. The majority of our accounts receivable balances consist of advisory and trust fees receivable from customers that we believe and have experienced to be fully collectible. Accordingly, our Consolidated Financial Statements do not include an allowance for bad debt nor any bad debt expense. Investments Investments are classified as trading securities and are carried at quoted market values on the accompanying Consolidated Balance Sheets. Net unrealized holding gains or losses on investments classified as trading securities are reflected as a component of other revenues. We measure realized gains and losses on investments using the specific identification method. Fair Value of Financial Instruments We determined the estimated fair values of our financial instruments using available information. The fair value amounts discussed in Notes 3 "Investments" and 4 "Fair Value of Financial Instruments" are not necessarily indicative of either the amounts realizable upon disposition of these instruments or our intent or ability to dispose of these assets. The estimated fair value of cash and cash equivalents, accounts receivable, prepaid income taxes, other current assets, accounts payable and accrued liabilities, dividends payable, compensation and benefits payable and income taxes payable approximates their carrying value due to their short-term maturities. The carrying amount of investments designated as “trading” securities, primarily U.S. Government and Government agency obligations, money market funds, Westwood Funds® mutual funds, the UCITS Fund and Westwood Trust common trust fund shares, equals fair value based on prices quoted in active markets and, with respect to funds, the reported net asset value ("NAV") of the shares held. Market values of our money market holdings generally do not fluctuate. Goodwill and Other Intangible Assets Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Goodwill is not amortized but is tested at least annually for impairment. We test more frequently if indicators are present or changes in circumstances suggest that impairment may exist. These indicators include declines in revenues, earnings or cash flows, or the development of a material adverse change in the business climate. We assess goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a component. We have identified two reporting units, which are consistent with our reporting segments: Advisory and Trust. The Company is not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that its fair value is less than the carrying amount. We assess goodwill for impairment using either a qualitative or quantitative assessment. The qualitative assessment includes consideration of the current trends in the industry in which we operate, macroeconomic conditions, recent financial performance of our reporting units and a market multiple approach valuation. In performing the annual impairment test during the third quarter, or more frequently when impairment indicators exist, and after assessing the qualitative factors, we may be required to utilize the two-step approach prescribed by ASC 350, Goodwill and Other Intangible Assets. We may also elect to skip the qualitative assessment and proceed directly to the quantitative analysis. The quantitative analysis requires a comparison of each reporting unit’s carrying value to the fair value of the respective unit. If the carrying value exceeds the fair value, a second step is performed to measure the amount of impairment loss. The fair value of each reporting unit is estimated, entirely or predominantly, using a market multiple approach. During the third quarter of 2017 we completed our annual goodwill impairment assessment and determined that no impairment loss was required. No impairments were recorded during any of the periods presented. Our intangible assets represent the acquisition date fair value of the acquired client relationships, trade names and non-compete agreements, as well as the cost of internally-developed software, each of which is reflected net of amortization. In valuing these assets, we made significant estimates regarding their useful lives, growth rates and potential attrition. We periodically review our intangible assets for events or circumstances that would indicate impairment. See Note 5 "Acquisitions, Goodwill and Other Intangible Assets." Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation of furniture and equipment is provided over the estimated useful lives of the assets (from 3 to 7 years), and depreciation on leasehold improvements is provided over the lesser of the estimated useful life or lease term using the straight-line method. We capitalize leasehold improvements, furniture and fixtures, computer hardware and most office equipment purchases. Revenue Recognition Investment advisory and trust fees are recognized as services are provided. These fees are determined in accordance with contracts between our subsidiaries and their clients and are generally based on a percentage of assets under management. A limited number of our clients have contractual performance-based fee arrangements that pay us an additional fee if we outperform a specified index over a specific period of time. We record revenue for performance-based fees at the end of the measurement period. Most advisory and trust fees are payable in advance or in arrears on a calendar quarterly basis. Advance payments are deferred and recognized over the periods services are performed. Since billing periods for most of our advance paying clients coincide with the calendar quarter to which payment relates, revenue is fully recognized within the quarter. Consequently no significant amount of deferred revenue is contained in our Consolidated Financial Statements. Deferred revenue is shown on the Consolidated Balance Sheets under the heading of “Accounts payable and accrued liabilities.” Other revenues generally consist of interest and investment income, which are recognized as earned. Stock-Based Compensation We have issued restricted stock to our U.S. employees and Board of Directors in accordance with our Fourth Amended and Restated Westwood Holdings Group, Inc. Stock Incentive Plan (the “Plan”). We account for stock-based compensation in accordance with ASC 718, Compensation-Stock Compensation and adopted Accounting Standards Update ("ASU") 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting effective January 1, 2017. Under ASC 718, stock-based compensation expense reflects the fair value of stock-based awards measured at grant date and is recognized over the relevant service period. We expense the fair value of stock-based compensation awards granted to our employees and directors in our Consolidated Financial Statements on a straight-line basis over the period that services are required to be provided in exchange for the award (“requisite service period”), which is typically the period over which the award vests. Stock-based compensation is recognized only for awards that vest. We measure the fair value of compensation cost related to restricted stock awards based on the closing market price of our common stock on the grant date. For performance-based share awards, we assess actual performance versus the predetermined performance goals and record compensation expense once we conclude it is probable that we will meet the performance goals required to vest the applicable performance-based awards. The following summarizes the effects of the adoption of ASU 2016-09 on our Condensed Consolidated Financial Statements: Income Taxes - Upon adoption of this standard, all excess tax benefits and tax deficiencies, including tax benefits of dividends on share-based payment awards, are recognized as income tax expense or benefit in the Consolidated Statement of Comprehensive Income. The tax effects of exercised or vested awards are treated as discrete items in the reporting period in which they occur. As a result, the Company recognized discrete adjustments to income tax expense of $1.0 million in 2017 related to excess tax benefits, decreasing our effective tax rate for 2017 by 2.9%. Without the adjustment, our effective tax rate would have been 43.9%. The Company did not have any unrecognized excess tax benefits as of December 31, 2016 and therefore there was no cumulative-effect adjustment to retained earnings related to income taxes. The Company adopted the amendments related to the recognition of excess tax benefits and tax shortfalls prospectively, with no adjustments made to prior periods. Forfeitures - Prior to adoption, stock-based compensation expense was recognized on a straight-line basis, net of estimated forfeitures, such that expense was recognized for stock-based awards that were expected to vest. A forfeiture rate was estimated annually and revised, if necessary, in subsequent periods if actual forfeitures differed from initial estimates. Upon adoption of this standard, the Company no longer applies an estimated forfeiture rate and instead accounts for forfeitures as they occur. The Company applied the modified retrospective adoption approach, resulting in a $711,000 cumulative-effect reduction to “Retained earnings” with the offset to “Additional paid-in-capital” on January 1, 2017. Statements of Cash Flows - The Company historically accounted for excess tax benefits on the Consolidated Statements of Cash Flows as a financing activity. Upon adoption of this standard, excess tax benefits are classified along with other income tax cash flows as an operating activity. The change in cash flow classification associated with excess tax benefits was adopted prospectively, resulting in the classification of the $1.0 million excess tax benefit as an operating activity during the twelve months ended December 31, 2017. No change in classification was necessary for the presentation of restricted stock returned for payment of taxes, as the Company has historically presented such payments as a financing activity. The Company adopted this portion of the standard on a prospective basis, with no adjustments made to prior periods. Earnings Per Share - The Company uses the treasury stock method to compute diluted earnings per share, unless the effect would be anti-dilutive. Under the new standard, the Company is no longer required to estimate the tax effect of anticipated windfall benefits or shortfalls when projecting proceeds available for share repurchases in calculating dilutive shares. The Company utilized the modified retrospective adoption approach, with no adjustments made to prior periods. The Share Award Plan of Westwood Holdings Group, Inc. for Service Provided in Canada to its Subsidiaries (the “Canadian Plan”) provides compensation in the form of common stock for services performed by employees of Westwood International Advisors. We record compensation costs for these awards on a straight-line basis over the vesting period once we determine it is probable that the award will be earned. Awards expected to be settled in shares are funded into a trust pursuant to an established Canadian employee benefit plan. Generally, the Canadian trust subsequently acquires Westwood common shares in market transactions and holds such shares until the shares are vested and distributed, or forfeited. Shares held in the trust are shown on our Consolidated Balance Sheet as treasury shares. Until shares are acquired by the trust, we record compensation costs and measure the liability as a cash-based award, which is included in “Compensation and benefits payable” on our Consolidated Balance Sheets. For the years ended December 31, 2017, 2016 and 2015, the compensation expense recorded for these awards was $232,000, $524,000 and $145,000, respectively. When the number of shares related to an award is determinable, the award becomes an equity award accounted for in a manner similar to restricted stock, which is described in Note 9 "Employee Benefits." Currency Translation Assets and liabilities of Westwood International Advisors, our non-U.S. dollar functional currency subsidiary, are translated at exchange rates as of applicable reporting dates. The gains and losses resulting from translating non-U.S. dollar functional currency into U.S. dollars are recorded through other comprehensive income. Revenue and expense transactions are recorded at the rates of exchange prevailing on the dates of the transactions. Gains and losses resulting from transactions in foreign currencies are included in "General and administrative" expenses in our Consolidated Statements of Comprehensive Income. For the year ended December 31, 2017, we recorded a loss of $1.6 million. For the years ended December 31, 2016 and 2015, we recorded a gain of $362,000 and $544,000, respectively. Income Taxes We file a United States federal income tax return as a consolidated group for Westwood and its subsidiaries based in the United States. We file a Canadian income tax return for Westwood International Advisors. Deferred income tax assets and liabilities are determined based on temporary differences between the financial statements and income tax bases of assets and liabilities as measured at enacted income tax rates. On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Reform Act”) was signed into law. Further information on the tax impacts of the Tax Reform Act is included in Note 7 "Income Taxes." Deferred income tax expense is generally the result of changes in deferred tax assets and liabilities. Deferred taxes relate primarily to incentive compensation and stock-based compensation expense. We record net deferred tax assets to the extent we believe such assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event we were to determine that we would not be able to realize our deferred income tax assets in the future, we would record a valuation allowance. No such valuation allowance has been recorded in our Consolidated Financial Statements. We account for uncertain tax positions by recognizing the impact of a tax position in our Consolidated Financial Statements when we believe it is more likely than not that the tax position would not be sustained upon examination by the appropriate tax authority based on the merits of the position. We include penalties and interest on income-based taxes, if any, in the “General and administrative” line on our Consolidated Statements of Comprehensive Income. At December 31, 2017, we had $160,000 of unrecognized tax benefits accrued, net of $46,000 federal deferred tax assets, related to uncertain tax positions. At December 31, 2016, we had $2.5 million of unrecognized tax benefits accrued, net of $942,000 federal deferred tax assets, related to uncertain tax positions. See Note 7 "Income Taxes." Business Combinations In allocating the purchase price of a business combination, the Company records all assets acquired and liabilities assumed at fair value, with the excess of the purchase price over the aggregate fair values recorded as goodwill. ASC 820, Fair Value Measurements, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The purchase price of an acquisition is allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values as of the date of acquisition. To the extent the purchase price exceeds the fair value of the net identifiable tangible and intangible assets acquired and liabilities assumed, such excess is allocated to goodwill. The Company determines the estimated fair values after review and consideration of relevant information, including discounted cash flows, quoted market prices and estimates made by management. The fair value assigned to identifiable intangible assets acquired is based on estimates and assumptions made by management at the time of the acquisition. The Company adjusts the preliminary purchase price allocation, as necessary, during the measurement period of up to one year after the acquisition closing date as it obtains more information as to facts and circumstances existing as of the acquisition date. Acquisition-related costs are recognized separately from the acquisition and are expensed as incurred. The acquired customer accounts, trade names and non-compete agreements are subject to fair value measurements based primarily on significant inputs not observable in the market and thus represent level 3 measurements. The valuation of an acquired customer list utilizes an income approach, which provides an estimate of the fair value of an asset based on discounted cash flows and management estimates, including the estimated growth associated with existing clients, market growth and client attrition. The valuation of acquired trade names uses a relief-from-royalty method in which the fair value of the intangible asset is estimated to be the present value of royalties saved because the Company owns the intangible asset. Revenue projections and estimated useful lives are used in estimating the fair value of the trade names. The non-compete agreements are calculated using the with-or-without method, which utilizes the probability of these employees competing with the Company and revenue projections to calculate the valuation of non-compete agreements. When an acquisition includes future contingent consideration on achieving certain annualized revenue from the post-closing acquired business over a specified time period, the Company estimates the fair value of the earn-out using overall revenue growth projections combined with lost revenue projections from existing customer base, both discounted and probability-weighted. A liability is recorded for the estimated fair value of the contingent consideration on the acquisition date, and the fair value of the contingent consideration is remeasured at each subsequent reporting period, with any change in fair value recognized as income or expense within the Consolidated Statement of Comprehensive Income. Recent Accounting Pronouncements In May 2017, the Financial Accounting Standards Board ("FASB") issued ASU 2017-09, Compensation- Stock Compensation (Topic 718): Scope of Modification Accounting. The ASU provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modified accounting under ASC 718. The purpose of the amendment is to reduce diversity, cost and complexity in practice when analyzing and applying these modifications. The ASU is effective for periods beginning after December 15, 2017. We do not expect the amendment to have a material impact on our Consolidated Financial Statements and expect to adopt the standard within the required time frame. In January 2017, the FASB issued Accounting Standards Update (ASU) 2017-04, Intangibles- Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The amendment eliminates step two from the goodwill impairment test in order to simplify the subsequent measurement of goodwill. Under step two, an entity had to perform procedures to determine the fair value of its assets and liabilities at the impairment testing date following procedures required to determine the fair value of assets acquired and liabilities assumed in a business combination. Under ASU 2017-04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. The amendment is effective, on a prospective basis, for annual or interim periods beginning after December 15, 2019, with early adoption permitted. We do not expect the amendment to have a material impact on our Consolidated Financial Statements and expect to adopt the standard within the required time frame. In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments. The amendment addresses eight classification issues related to the statement of cash flows, including debt prepayment or debt extinguishment costs, settlement of zero-coupon bonds, contingent consideration payments made after a business combination, proceeds from settlements of insurance claims, proceeds from settlements of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and classification of separately identifiable cash flows. Adoption should be applied using the retrospective transition method. Early adoption is permitted. The amendment is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2017. We do not expect the adoption of ASU 2016-08 to have a material impact on our Consolidated Financial Statements and disclosures and expect to adopt the standard within the required time frame. In February 2016, the FASB issued ASU 2016-02, Leases. ASU 2016-02 requires lessees to recognize a lease liability and a right-of-use asset for all leases at the commencement date, excluding short-term leases. The amendment is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. We are currently evaluating the impact that the application of ASU 2016-02 will have on our Consolidated Financial Statements and disclosures and expect to adopt the standard within the required time frame. In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. The main objective of this update is to enhance the reporting model for financial instruments to provide users of financial statements with more useful information for making decisions. The amendment addresses various aspects of recognition, measurement, presentation and disclosure of financial instruments. The amendment is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. We do not expect the application of ASU 2016-01 to have a material impact on our Consolidated Financial Statements and disclosures and expect to adopt the new standard in the required time frame. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which resulted from a joint project by the FASB and the International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP and International Financial Reporting Standards ("IFRS"). The issuance of a comprehensive and converged standard on revenue recognition is expected to improve the ability of financial statement users to understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The standard will require additional disclosures to help financial statement users better understand the nature, amount, timing, and potential uncertainty of the revenue being recognized. In August 2015, in order to amend the effective date of ASU 2014-09, the FASB issued ASU 2015-14, Revenue from Contracts with Customers – Deferral of the Effective Date. Under the amendment, the effective date of ASU 2014-09 has been extended by one year for all entities. For public entities, the ASU will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing, which clarifies the guidance related to identifying performance obligations and the licensing guidance in ASU 2014-09. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Reporting Revenue Gross versus Net), which clarifies the implementation guidance on principal versus agent considerations in ASU 2014-09. The amendment is effective for fiscal years beginning after December 15, 2017, including interim reporting periods within that reporting year. Management completed a detailed review of the terms and conditions of our current contracts, including performance based fees, and we will not have a significant change in the timing of revenue recognized. As part of our review we analyzed our current business process and internal controls and did not need to implement new procedures to successfully adopt the standard. We adopted the standard effective January 1, 2018, and the adoption did not have a material impact on our Consolidated Financial Statements. Beginning with our Form 10-Q filed for the quarter ended March 31, 2018, we will enhance and add disclosures surrounding our revenue process including disaggregation of revenue and information about performance obligations that will help provide the financial statement users a better understanding of the nature, amount, timing and potential uncertainty of the revenue being recognized.

Investments

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

INVESTMENTS:

All investments are carried at fair value and are accounted for as trading securities. Investment balances are presented below (in thousands):



	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
December 31, 2017:
U.S. Government and Government agency obligations	$	29,367	$	21	$	(15	)	$	29,373
Money market funds	9,736		—		—			9,736
Equity funds	11,578		657		(20		)	12,215
Marketable securities	$	50,681	$	678	$	(35	)	$	51,324

December 31, 2016:
U.S. Government and Government agency obligations	$	30,275	$	—	$	(2	)	$	30,273
Money market funds	14,127		—		—			14,127
Equity funds	12,057		204		(176		)	12,085
Marketable securities	$	56,459	$	204	$	(178	)	$	56,485

The following amounts, except for income tax amounts, are included in our Consolidated Statements of Comprehensive Income under the heading “Other revenues” for the years indicated (in thousands):



	2017			2016			2015
Realized gains	$	395		$	113		$	283
Realized losses	(96		)	(220		)	(43		)
Net realized gains (losses)	$	299		$	(107	)	$	240
Income tax expense (benefit) from gains (losses)	$	105		$	(37	)	$	84
Interest income – trading	$	334		$	282		$	143
Dividend income	$	302		$	265		$	284
Unrealized gains/(losses)	$	617		$	510		$	(613	)

As of December 31, 2017 and 2016, $10.7 million and $11.0 million in corporate funds, respectively, were invested in the Westwood Funds®, Westwood Common Trust Funds and the UCITS fund, which are included in “Investments, at fair value” on our Consolidated Balance Sheets. See Note 11 "Variable Interest Entities."

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS:

ASC 820, Fair Value Measurements, defines fair value, establishes a framework for measuring fair value and requires additional disclosures regarding certain fair value measurements. ASC 820 establishes a three-tier hierarchy for measuring fair value, as follows:


•	Level 1 – quoted market prices in active markets for identical assets and liabilities


•	Level 2 – inputs other than quoted prices that are directly or indirectly observable


•	Level 3 – unobservable inputs where there is little or no market activity

The following table summarizes the values of our assets and liabilities as of the dates indicated within the fair value hierarchy (in thousands):



	Level 1		Level 2		Level 3		Investments Measured at NAV ⁽¹⁾		Total
As of December 31, 2017
Investments in trading securities	$	48,998	$	—	$	—	$	2,326	$	51,324
Total financial instruments	$	48,998	$	—	$	—	$	2,326	$	51,324

As of December 31, 2016
Investments in trading securities	$	53,319	$	—	$	—	$	3,166	$	56,485
Total financial instruments	$	53,319	$	—	$	—	$	3,166	$	56,485

(1) Comprised of certain investments measured at fair value using NAV as a practical expedient. These investments were recategorized and are no longer included within Level 2 of the valuation hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in our Consolidated Balance Sheets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Acquisitions, Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Acquisitions, Goodwill and Other Intangible Assets

ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS:

Acquisition of Woodway Financial Advisors

Westwood completed the acquisition of Woodway Financial Advisors Inc ("Woodway") on April 1, 2015, as part of our strategy to grow our private wealth business. The total Merger consideration consisted of (i) $30.6 million in cash and stock, as described below, and (ii) contingent consideration equal to the annualized revenue from the post-closing business of Woodway for the twelve-month period ending March 31, 2016 (the “Earn-Out Period”), adjusted for certain clients or accounts that have terminated, and capped at $15 million (the “Earn-Out Amount”). The final Earn-Out Amount of $9.3 million (discounted from $10.1 million due to certain required holding periods on the Westwood shares) was paid 54.84% in cash and 45.16% in shares of Westwood common stock, valued using the average closing price during the last 30 calendar days of the Earn-Out Period. In relation to the Merger, Westwood entered into employment agreements with certain Woodway employees that, among other things, provided for specified compensation and benefits for the related employees.

“Professional services” on our Consolidated Statements of Comprehensive Income includes $732,000 of transaction costs related to the Woodway acquisition for the year ended December 31, 2015.

Pro Forma Financial Information

The following unaudited pro forma results of operations for the twelve months ended December 31, 2015 assume that the Woodway acquisition had occurred on January 1, 2015, after giving effect to acquisition accounting adjustments relating to amortization of the valued intangible assets and to record additional compensation costs related to employment contracts entered into as a result of the acquisition. These unaudited pro forma results exclude one-time, non-recurring costs related to the acquisition, including $1.1 million of transaction costs. This unaudited pro forma information should not be relied upon as being necessarily indicative of the historical results that would have been obtained if the Merger had actually occurred on that date, nor of the results that may be obtained in the future.



Pro Forma Results (in thousands)	Year Ended December 31, 2015
Total revenues	$	133,628
Net income	$	28,080

Goodwill

Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Changes in goodwill are as follows (in thousands):



	As of December 31,
	2017		2016
Beginning balance	$	27,144	$	27,144
Acquired goodwill	—		—
Ending balance	$	27,144	$	27,144

Goodwill is not amortized but is tested for impairment at least annually. We completed our annual goodwill impairment assessment during the third quarter of 2017 and determined that no impairment loss was required. No impairments were recorded during the years ended December 31, 2017, 2016 or 2015.

Other Intangible Assets

Our intangible assets represent the acquisition date fair value of acquired client relationships, trade names, non-compete agreements and internally-developed software and are reflected net of amortization. In valuing these assets, we made significant estimates regarding their useful lives, growth rates and potential attrition. The following is a summary of intangible assets at December 31, 2017 and 2016 (in thousands, except years):



	Weighted Average Amortization Period (years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
2017
Client relationships	14.8	$	25,396	$	(6,302	)	$	19,094
Trade names	4.2	942		(633		)	309
Non-compete agreements	2.9	283		(262		)	21
Internally developed software	7.0	418		(38		)	380
		$	27,039	$	(7,235	)	$	19,804
2016
Client relationships	14.8	$	25,396	$	(4,672	)	$	20,724
Trade names	4.2	942		(496		)	446
Non-compete agreements	2.9	283		(176		)	107
Internally developed software	7.0	136		(19		)	117
		$	26,757	$	(5,363	)	$	21,394

Amortization expense, which is included in “General and administrative” expense on our Consolidated Statements of Comprehensive Income, was $1.9 million, $2.0 million and $1.5 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Estimated amortization expense for intangible assets over the next five years is as follows (in thousands):



	Estimated Amortization Expense
For the year ending December 31,
2018	$	1,672
2019	1,651
2020	1,530
2021	1,419
2022	1,419

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Balance Sheet Components

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BALANCE SHEET COMPONENTS

BALANCE SHEET COMPONENTS:

Property and Equipment

The following table reflects information about our property and equipment as of December 31, 2017 and 2016 (in thousands):



	As of December 31,
	2017			2016
Leasehold improvements	$	4,170		$	3,908
Furniture and fixtures	2,243			2,362
Computer hardware and office equipment	2,745			2,306
Construction in progress	705			294
Accumulated depreciation	(5,673		)	(4,590		)
Property and equipment, net	$	4,190		$	4,280

Stockholders' Equity

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss were as follows (in thousands):



	As of December 31,
	2017			2016
Foreign currency translation adjustment, net of tax of $46 and $10	$	(1,764	)	$	(4,287	)
Accumulated other comprehensive loss	$	(1,764	)	$	(4,287	)

Income Taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES:

Tax Reform Act

On December 22, 2017, the Tax Reform Act was signed into law. The legislation significantly changes U.S. tax law by, among other things, lowering corporate income tax rates and creating a territorial tax system with a one-time mandatory deemed repatriation tax on previously deferred earnings of foreign subsidiaries. The Tax Reform Act reduces the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. As a result of the decrease in the corporate income tax rate, we revalued our ending net deferred tax assets at December 31, 2017 and recognized an incremental $1.6 million income tax expense in 2017.

We have an estimated $33 million of undistributed earnings and profits (“E&P”) in our foreign subsidiary, Westwood International Advisors, subject to the one-time mandatory deemed repatriation, for which we recognized an incremental $1.8 million income tax expense in 2017. After the utilization of existing tax credits, the Company expects to pay additional U.S. federal cash taxes of approximately $1.8 million on the mandatory deemed repatriation. Of this amount, $1.1 million is payable over eight years, of which $1.0 million is included in "Noncurrent income taxes payable" on our Consolidated Balance Sheets for the year ended December 31, 2017. The remaining$88,000 is netted in our "Prepaid income taxes" on our Consolidated Balance Sheets for the year ended December 31, 2017, as our U.S. federal tax balance is in a receivable position at year-end.

While the Tax Reform Act provides for a territorial tax system, beginning in 2018, it includes two new U.S. tax base erosion provisions, the global intangible low-taxed income (“GILTI”) provisions and the base-erosion and anti-abuse tax (“BEAT”) provisions. The GILTI provisions require the Company to include in its U.S. income tax return any foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. We expect to be subject to minimal U.S. tax liability on GILTI income beginning in 2018. We have elected to account for GILTI tax expense in the period in which it is incurred, and therefore have not provided any deferred tax impacts of GILTI in our Consolidated Financial Statements for the year ended December 31, 2017.

The BEAT provisions in the Tax Reform Act eliminates the deduction of certain base-erosion payments made to related foreign corporations and impose a minimum tax if the re-calculated taxable income under BEAT is greater than regular taxable income. We do not expect to be subject to this tax and therefore have not included any tax impacts of BEAT in our Consolidated Financial Statements for the year ended December 31, 2017.

On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Reform Act. We have provisionally recognized the incremental tax impacts related to deemed repatriated earnings and the revaluation of deferred tax assets and liabilities and included these amounts in our Consolidated Financial Statements for the year ended December 31, 2017. The ultimate impact may differ from these provisional amounts, possibly materially, due to, among other things, additional analysis, changes in interpretations and assumptions we have made, additional regulatory guidance that may be issued and actions we may take as a result of the Tax Reform Act. The accounting is expected to be complete when our 2017 U.S. corporate income tax return is filed in the third quarter of 2018.

Income Tax Provision

Income before income taxes by jurisdiction is as follows (in thousands):



	Years ended December 31,
	2017		2016		2015
United States	$	17,531	$	21,539	$	27,324
Canada	16,362		12,471		14,896
Total	$	33,893	$	34,010	$	42,220

Income tax expense differs from the amount that would otherwise have been calculated by applying the U.S. Federal corporate tax rate of 35% to income before income taxes.

The difference between the Federal corporate tax rate and the effective tax rate is comprised of the following (in thousands):



	Years ended December 31,
	2017					2016					2015
Income tax provision computed at US federal statutory rate	$	11,859		35.0	%	$	11,893		35.0	%	$	14,777		35.0	%
Canadian rate differential	(1,398		)	(4.1	)	(1,050		)	(3.1	)	(1,287		)	(3.0	)
Change in uncertain tax positions, net of federal benefit	(3		)	—		542			1.6		1,059			2.5
State and local income taxes, net of federal benefit	626			1.9		230			0.6		465			1.1
Rate changes	1,578			4.6		—			—		—			—
Tax on deemed repatriation	1,767			5.2		—			—		—			—
Other, net	(525		)	(1.6	)	(252		)	(0.7	)	101			0.2
Total income tax expense	$	13,904		41.0	%	$	11,363		33.4	%	$	15,115		35.8	%
Effective income tax rate	41.0		%			33.4		%			35.8		%

We include penalties and interest on income-based taxes in the “General and administrative” line on our Consolidated Statements of Comprehensive Income. We recorded $181,000, $101,000 and $119,000 of penalties and interest in 2017, 2016 and 2015, respectively.

Income tax provision (benefit) as set forth in the Consolidated Statements of Comprehensive Income consisted of the following components (in thousands):



	Years ended December 31,
	2017			2016			2015
Current taxes:
US Federal	$	1,122		$	6,765		$	12,015
State and local	662			1,136			2,564
Foreign	4,578			3,313			3,821
Total current taxes	6,362			11,214			18,400
Deferred taxes:
US Federal	7,569			314			(3,331		)
State and local	22			36			(156		)
Foreign	(49		)	(201		)	202
Total deferred taxes	7,542			149			(3,285		)
Total income tax expense	$	13,904		$	11,363		$	15,115

Deferred Income Taxes

The tax effects of temporary differences that give rise to the deferred tax assets and deferred tax liabilities are presented below (in thousands):



	As of December 31,
	2017			2016
Deferred tax assets:
Share-based compensation expense	$	3,851		$	6,325
Deferred rent	441			762
Compensation and benefits payable	719			4,907
Federal unrecognized tax benefit	46			942
Other	140			74
Total deferred tax assets	5,197			13,010
Deferred tax liabilities:
Property and equipment	(586		)	(1,013		)
Intangibles	(1,029		)	(1,023		)
Unrealized gains on investments	(175		)	(71		)
Total deferred tax liabilities	(1,790		)	(2,107		)
Net deferred tax assets	$	3,407		$	10,903

The Company is subject to taxation in the United States and various state and foreign jurisdictions. As of December 31, 2017, the Company’s 2014, 2015 and 2016 tax years are open for examination by the Internal Revenue Service, and various state and foreign jurisdiction tax years remain open to examination. We are not currently under audit by any taxing jurisdiction.

We have not provided foreign withholding taxes on the undistributed earnings of our foreign subsidiary, Westwood International Advisors. If these funds were needed for our U.S. operations, we would be required to accrue and pay incremental foreign withholding taxes to repatriate a portion of these funds. Our current intent is to permanently reinvest the funds subject to withholding taxes outside of the U.S., and our current plans do not demonstrate a need to repatriate them to fund our U.S. operations. As of December 31, 2017, the cumulative amount of earnings upon which foreign withholding taxes have not been provided is approximately $20 million, and the unrecognized deferred tax liability related to these earnings is approximately $1.0 million.

As of December 31, 2017 and 2016, the Company's gross liability related to uncertain tax positions was $160,000 and $2.5 million, respectively. A number of years may elapse before an uncertain tax position is finally resolved. To the extent that the Company has favorable tax settlements, or determines that accrued amounts are no longer needed due to a lapse in the applicable statute of limitations or other changes in circumstances, such liabilities, as well as the related interest and penalties, would be reversed as a reduction of income tax expense, net of federal tax effects, in the period such determination is made. A reconciliation of the change in recorded uncertain tax positions during the years ended December 31, 2017 and 2016 is as follows (in thousands):



Balance at January 1, 2016	$	1,629
Additions for tax positions related to the current year	354
Additions for tax positions related to prior years	580
Reductions for tax positions related to prior years	(101		)
Balance at December 31, 2016	$	2,462
Additions for tax positions related to the current year	67
Reductions for tax positions related to prior years	(776		)
Payments for tax positions related to prior years	(1,593		)
Balance at December 31, 2017	$	160

It is reasonably possible within the next twelve months that the liability for uncertain tax positions could decrease by as much as $160,000 as a result of settlements with certain taxing authorities that, if recognized, would decrease our provision for income taxes by $127,000.

Regulatory Capital Requirements	12 Months Ended
Regulatory Capital Requirements	Dec. 31, 2017
Banking and Thrift [Abstract]
REGULATORY CAPITAL REQUIREMENTS	REGULATORY CAPITAL REQUIREMENTS: Westwood Trust must maintain cash and investments in an amount equal to the required minimum restricted capital of $4.0 million as required by the Texas Finance Code. Restricted capital is included in Investments in the accompanying Consolidated Balance Sheets. At December 31, 2017, Westwood Trust had approximately $16.8 million in excess of its minimum capital requirement. Westwood Trust is limited under applicable Texas law in the payment of dividends of undivided profits, which is that part of equity capital equal to the balance of net profits, income, gains and losses since formation minus subsequent distributions to stockholders and transfers to surplus or capital under share dividends or appropriate Board resolutions. At the discretion of its Board of Directors, Westwood Trust may make quarterly and special dividend payments to us out of its undivided profits. No dividend payments were made to us in 2017, 2016 or 2015. Westwood International Advisors is subject to the working capital requirements of the Ontario Securities Commission, which requires that combined cash and receivables exceed current liabilities by at least $100,000 CDN. At December 31, 2017 Westwood International Advisors had combined cash and receivables that were $46.8 million CDN (or $37.2 million in U.S. dollars using the exchange rate on December 31, 2017) in excess of its current liabilities, which satisfies this requirement.

- Definition

The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1G
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958577-112826

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1C
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958572-112826

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1E
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958574-112826

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1H
-URI http://asc.fasb.org/extlink&oid=84167132&loc=d3e65071-112826

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958569-112826

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958570-112826

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1F
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958575-112826

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958568-112826

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1D
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958573-112826

+ Details

Employee Benefits

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS:

Restricted Stock Awards

We have issued restricted shares to our employees and non-employee directors. The Plan reserves shares of Westwood common stock for issuance to eligible employees, directors and consultants of Westwood or its subsidiaries in the form of restricted stock and stock options. In April 2017, stockholders approved an additional 250,000 shares to be authorized under the Plan, increasing the total number of shares issuable under the Plan (including predecessor plans to the Plan) to 4,648,100 shares. In the event of a change in control of Westwood, the Plan contains provisions providing for the acceleration of the vesting of restricted stock. At December 31, 2017, approximately 454,000 shares remain available for issuance under the Plan.

The following table presents the total stock-based compensation expense recorded and the total income tax benefit recognized for stock-based compensation arrangements for the years indicated (in thousands):



	For the years ended December 31,
	2017		2016		2015
Service condition restricted stock expense	$	10,334	$	10,377	$	9,439
Performance-based restricted stock expense	5,387		4,927		7,403
Restricted stock expense under the Plan	15,721		15,304		16,842
Canadian Plan restricted stock expense	709		650		732
Total stock-based compensation expense	$	16,430	$	15,954	$	17,574
Total income tax benefit recognized related to stock-based compensation	$	6,168	$	4,749	$	6,217

Restricted Stock

Under the Plan, we have granted to employees and non-employee directors restricted stock subject to service conditions and to certain key employees restricted stock subject to both service and performance conditions. We accrue dividends on unvested restricted stock, which are due and payable upon vesting of restricted stock. Accrued dividends coming due within the next twelve months are included in "Dividends payable" on the Consolidated Balance Sheets, with the remaining noncurrent portion of accrued dividends included in "Accrued dividends" on the Consolidated Balance Sheets. At December 31, 2017, we had recorded $7.4 million and $1.7 million in Dividends payable and Accrued dividends, respectively. At December 31, 2016, we had recorded $6.7 million and $1.8 million in Dividends payable and Accrued dividends, respectively.

As of December 31, 2017, there was approximately $22.1 million of unrecognized compensation cost for restricted stock grants under the Plan, which we expect to recognize over a weighted-average period of 1.9 years. In order to satisfy tax liabilities that employees will owe on their shares that vest, we may withhold a sufficient number of vested shares from employees on the date vesting occurs to cover minimum tax withholding requirements. We withheld 87,946 shares in 2017 for this purpose. Our two types of restricted stock grants under the Plan are discussed below.

Restricted Stock Subject Only to a Service Condition

For the years ended December 31, 2017, 2016 and 2015, we granted restricted stock to employees and non-employee directors. Employee shares generally vest over four years and Director shares vest over one year. We calculate compensation cost for restricted stock grants using the fair market value of our common stock at the date of grant, the number of shares issued and an adjustment for restrictions on dividends. This compensation cost is amortized on a straight-line basis over the applicable vesting period.

The following table details the status and changes in our restricted stock grants that are subject only to a service condition for the year ended December 31, 2017:



	Number of Shares		Weighted Average Grant Date Fair Value
Non-vested, January 1, 2017	607,501		$	54.67
Granted	143,460		61.20
Vested	(187,295	)	57.47
Forfeited	(44,291	)	54.99
Non-vested, December 31, 2017	519,375		$	55.44

The following table shows the weighted-average grant date fair value for shares granted and the total fair value of shares vested during the years indicated:



	Years ended December 31,
	2017		2016		2015
Weighted-average grant date fair value	$	61.20	$	47.97	$	61.42
Fair value of shares vested (in thousands)	$	10,764	$	9,497	$	7,797

Restricted Stock Subject to Service and Performance Conditions

Under the Plan, certain key employees were provided agreements for grants of restricted shares that vest over multiple year periods subject to achieving annual performance goals established by the Compensation Committee of Westwood’s Board of Directors. Each year the Compensation Committee establishes a specific goal for that year’s vesting of the restricted shares. For 2017, the goal is based on Income before income tax from our audited Consolidated Statement of Comprehensive Income for 2017. The date that the Compensation Committee establishes the annual goal is considered to be the grant date and the fair value measurement date to determine expense on the shares that are likely to vest. The final shares earned are determined when the Compensation Committee formally approves the performance-based restricted stock vesting based on the Income before income tax from the Company’s audited financial statements, and the service vesting period ranges from one to three years. If a portion of the performance-based restricted shares is not earned or does not vest, no compensation expense is recognized for that portion and any previously recognized compensation expense related to shares that are not earned or do not vest is reversed. In March 2017, the Compensation Committee established the 2017 goal for our Chief Executive Officer and Chief Information Officer as Income before income taxes of $24.0 million for 50% of their respective awards and an Income before income taxes target of $34.0 million (ranging from 25% of target for threshold performance of $30.3 million to 185% of target for maximum performance of $42.5 million) for the remaining 50% of their respective awards. For all other restricted stock grants subject to performance conditions, the Compensation Committee established the fiscal 2017 goal as Income before income taxes of at least $24.0 million. These performance grants allow the Compensation Committee to exclude certain items, including legal settlements, from the Income before income taxes target. At the Committee's discretion, we excluded the $4.0 million legal settlement expense recorded during the third quarter of 2017 from our Income before income taxes target. Throughout 2017, we concluded that it was probable that we would exceed the target performance goals required to vest the applicable percentage of the performance-based restricted shares this year and recorded expense related to the shares expected to be earned and vested.

The following table details the status and changes in our restricted stock grants subject to service and performance conditions for the year ended December 31, 2017:



	Number of Shares		Weighted Average Grant Date Fair Value
Non-vested, January 1, 2017	153,620		$	55.90
Granted	160,340		54.86
Vested	(102,367	)	56.58
Forfeited	(45,675	)	55.86
Non-vested, December 31, 2017	165,918		$	55.85

The following table shows the weighted-average grant date fair value for shares granted and the total fair value of shares vested during the years indicated:



	Years ended December 31,
	2017		2016		2015
Weighted-average grant date fair value	$	54.86	$	55.90	$	61.29
Fair value of shares vested (in thousands)	$	5,792	$	6,209	$	5,936

The above amounts as of December 31, 2017 do not include 16,300 non-vested restricted shares that potentially vest over performance years subsequent to 2017, inasmuch as the Compensation Committee has not set annual performance goals for later years and therefore no grant date has been established.

Canadian Plan

As discussed in Note 2, the Canadian Plan provides compensation in the form of common stock for services performed by employees of Westwood International Advisors. Under the Canadian Plan, no more than $10 million CDN (or $8.0 million in U.S. Dollars using the exchange rate on December 31, 2017) may be funded to the Plan Trustee to fund purchases of common stock with respect to awards granted under the Canadian Plan. At December 31, 2017, approximately $3.4 million remains available for issuance under the Canadian Plan, or approximately 52,000 shares based on the closing share price of our stock of $66.21 as of the last business day of 2017. During 2017, the trust formed pursuant to the Canadian Plan purchased in the open market 23,822 Westwood common shares for approximately $1.3 million. On December 1, 2017, 22,091 shares vested at a total fair value of approximately $1.2 million. As of December 31, 2017, the trust holds 33,327 shares of Westwood common stock. As of December 31, 2017, unrecognized compensation cost related to restricted stock grants under the Canadian Plan totaled $676,000, which we expect to recognize over a weighted-average period of 1.8 years.

Mutual Fund Share Incentive Awards

We grant annually to certain employees mutual fund incentive awards, which are bonus awards based on our mutual funds achieving specific performance goals. Awards granted are notionally credited to a participant account maintained by us that contains a number of mutual fund shares equal to the award amount divided by the net closing value of a fund share on the date the amount is credited to the account.

For awards earned prior to 2017, the award vested after approximately one year of service following the year in which the participant earned the award. Beginning in 2017, the award vests after approximately two years of service following the year in which the participant earned the award. We begin accruing a liability for mutual fund incentive awards when we believe it is probable that the award will be earned and record expense for these awards over the service period of the award, which is either two or three years. During the year in which the amount of the award is determined, we record expense based on the expected value of the award. After the award is earned, we record expense based on the value of the shares awarded and the percentage of the vesting period that has elapsed. Our liability under these awards may increase or decrease based on changes in the value of the mutual fund shares awarded, including reinvested income from the mutual funds during the vesting period. Upon vesting, participants receive the value of the mutual fund share awards adjusted for earnings or losses attributable to the underlying mutual funds. For the years ended December 31, 2017, 2016, and 2015, we recorded expense of $1.2 million, $1.3 million and $1.2 million, respectively, related to mutual fund share incentive awards. As of December 31, 2017 and 2016, we had an accrued liability of $1.8 million and $1.7 million, respectively, related to mutual fund incentive awards.

Deferred Share Units

We have a deferred share unit (“DSU”) plan for employees of Westwood International Advisors. A DSU is an award linked to the value of Westwood’s common stock and is represented by a notional credit to a participant account. The value of a DSU is initially equal to the value of a share of our common stock. DSUs vest 20%, 40%, 60%, and 80% after two, three, four and five years of service, respectively. DSUs become fully vested after six years of service and the liability for these units is settled in cash upon termination of the participant’s service. We record expense for DSUs based on the number of units vested on a straight line basis, which may increase or decrease based on changes in the price of our common shares, and will increase for additional units received from dividends declared on our shares. As of December 31, 2017, we had an accrued liability of $632,000 for 10,796 deferred share units related to the 2012, 2013, 2014, 2015 and 2016 awards issued in 2013, 2014, 2015, 2016 and 2017, respectively, which is based on the $66.21 per share closing price of our common stock on the last trading day of the year ended December 31, 2017.

Benefit Plans

Westwood has a defined contribution and profit-sharing plan that was adopted in July 2002 and covers substantially all of our employees. Beginning with the 2017 contribution, discretionary employer profit-sharing contributions become fully vested after four years of service by the participant. Contributions prior to 2017 vest after six years of service by the participant. For U.S. employees, Westwood provides a 401(k) match of up to 6% of eligible compensation. For Westwood International Advisors employees, Westwood provides a Registered Retirement Savings Plan match of up to 6% of eligible compensation. These retirement plan matching contributions vest immediately.

The following table displays our profit-sharing and retirement plan contributions for the periods presented (in thousands):



	Years ended December 31,
	2017		2016		2015
Profit-sharing contributions	$	1,613	$	1,001	$	965
Retirement plan matching contributions	1,602		1,518		1,319

Earnings Per Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE:

Basic earnings per common share (“EPS”) is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding. Diluted EPS is computed based on the weighted average shares of common stock outstanding plus the effect of any dilutive shares of restricted stock granted to employees and non-employee directors. There were 6,614, 984 and 5,993 anti-dilutive restricted shares as of December 31, 2017, 2016 and 2015, respectively.

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share and share amounts):



	Years ended December 31,
	2017		2016		2015
Net income	$	19,989	$	22,647	$	27,105

Weighted average shares outstanding – basic	8,147,742		7,961,891		7,756,647
Dilutive potential shares from unvested restricted shares	252,280		182,979		350,755
Dilutive potential shares from contingent consideration	—		20,605		41,997
Weighted average shares outstanding – diluted	8,400,022		8,165,475		8,149,399
Earnings per share:
Basic	$	2.45	$	2.84	$	3.49
Diluted	$	2.38	$	2.77	$	3.33

Variable Interest Entities

12 Months Ended

Dec. 31, 2017

Variable Interest Entities [Abstract]

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES:

As discussed in Note 2 "Summary of Significant Accounting Policies", the CTFs and LLCs (together the “Westwood VIEs”) are considered VIEs, and the Westwood Funds® and UCITS Fund are considered VOEs (together the "Westwood VOEs"). We receive fees for managing assets in these entities commensurate with market rates. As of December 31, 2017 and 2016, we evaluated all of the Westwood VIEs and Westwood VOEs to determine whether or not we should consolidate the entities into our Consolidated Financial Statements. For the Westwood VIEs, we evaluated whether or not we qualify as the primary beneficiary based on whether we have the obligation to absorb significant losses, the right to receive residual returns and the right to direct the activities of the entity that most significantly impact the entity’s economic performance. For the Westwood VOEs, we evaluated whether or not we own a controlling financial interest in the entities. Based on our analysis, we have not consolidated the Westwood VIEs or Westwood VOEs into our Consolidated Financial Statements for the years ended December 31, 2017 or 2016.

As of December 31, 2017 and 2016, the Company had seed investments totaling $10.7 million and $11.0 million, respectively, in the CTFs, the Westwood Funds® and UCITS Fund. These seed investments were provided for the sole purpose of showing economic substance needed to establish the funds or sub-funds. The Company's seed investments in these funds are included in “Investments, at fair value” on our Consolidated Balance Sheet at December 31, 2017.

We have not otherwise provided any financial support that we were not previously contractually obligated to provide and there are no arrangements that would require us to provide additional financial support to any of these entities. Our seed investments in the above-mentioned CTFs, Westwood Funds® and UCITS Fund are accounted for as investments in accordance with our other investments described in Note 3 "Investments." We recognized fee revenue from the Westwood VIEs and Westwood VOEs of approximately $51.9 million, $52.2 million and $56.4 million for the twelve months ended December 31, 2017, 2016 and 2015, respectively.

The following table displays the assets under management, the amount of our seed investments that are included in “Investments, at fair value” on the Consolidated Balance Sheets, and the financial risk of loss in each vehicle (in millions):



	As of December 31, 2017
	Assets Under Management		Corporate Investment		Amount at Risk
VIEs/VOEs:
Westwood Funds®	$	4,242	$	6	$	6
Common Trust Funds	2,564		2		2
LLCs	116		—		—
UCITS Fund	412		2		2
All other assets:
Private Wealth	2,886
Institutional	14,009
Total AUM	$	24,229

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS: Some of our directors, executive officers and their affiliates invest personal funds directly in trust accounts that we manage. There was approximately $98,000 and $97,000 in fees due from these accounts as of December 31, 2017 and 2016, respectively. For the years ended December 31, 2017, 2016 and 2015, we recorded trust fees from these accounts of $375,000, $409,000, and $454,000, respectively. The Company engages in transactions with its affiliates as part of our operations. Westwood International Advisors and Westwood Management provide investment advisory services to the UCITS Fund and the Westwood Funds®. Certain members of our management serve on the board of directors of the UCITS Fund, and we have capital invested in three of the Westwood Funds®. Under the terms of the investment advisory agreements, the Company earns fees paid by either clients of the fund or directly by the funds. The fees are based on negotiated fee schedules applied to AUM. These fees are commensurate with market rates. For the years ended December 31, 2017, 2016 and 2015, we recorded fees from the affiliated Funds of $4.0 million, $3.1 million and $1.3 million, respectively, which are included in “Asset-based advisory fees” on our Consolidated Statement of Comprehensive Income. As of December 31, 2017 and 2016, $423,000 and $270,000 of these fees were unpaid and included in “Accounts receivable” on our Consolidated Balance Sheets, respectively.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES:

Leases

We lease our offices under non-cancelable operating lease agreements with expiration dates that run through 2026. Rental expense for facilities and equipment leases for years ended December 31, 2017, 2016 and 2015 aggregated approximately $2.4 million, $2.4 million and $2.0 million, respectively, and is included in general and administrative and information technology expenses in the accompanying Consolidated Statements of Comprehensive Income.

At December 31, 2017, the future contractual rental payments for noncancelable operating leases for each of the following five years and thereafter are as follows (in thousands):



Year ending:
2018	$	2,309
2019	1,947
2020	1,963
2021	1,920
2022	1,530
Thereafter	4,533
Total payments due	$	14,202

Litigation

On August 3, 2012, AGF Management Limited and AGF Investments Inc. (together “AGF”) filed a lawsuit in the Ontario Superior Court of Justice against Westwood, certain Westwood employees and the executive recruiting firm of Warren International, LLC ("Warren"). The action relates to the hiring of certain members of Westwood’s global and emerging markets investment team previously employed by AGF. AGF alleged that the former employees breached certain obligations when they resigned from AGF and that Westwood and Warren induced such breaches. AGF sought an unspecified amount of damages and punitive damages of $10 million CDN in the lawsuit. On November 5, 2012, Westwood responded to AGF’s lawsuit with a counterclaim against AGF for defamation. Westwood sought $1 million CDN in general damages, $10 million CDN in special damages, $1 million CDN in punitive damages, and costs. On November 6, 2012, AGF filed a second lawsuit against Westwood, Westwood Management and an employee of a Westwood subsidiary, alleging that the employee made defamatory statements about AGF. In this second lawsuit, AGF sought $5 million CDN in general damages, $1 million CDN per defendant in punitive damages, unspecified special damages, interest and costs.

On October 13, 2017, we reached a settlement with AGF that provides for the dismissal of all claims, with prejudice and without any admission of liability. We have agreed to pay AGF a one-time payment of $10 million CDN, half of which is expected to be covered by our insurance. We recorded a net $4.0 million ($5 million CDN) charge related to the settlement and associated insurance coverage, with a $4.0 million ($5 million CDN) receivable from our insurance provider included in “Other current assets” on our Condensed Consolidated Balance Sheets at December 31, 2017.

Our policy is to not accrue legal fees and directly related costs as part of potential loss contingencies. We have agreed with our Directors & Officers insurance provider that 50% of the defense costs related to both AGF claims, excluding Westwood’s counterclaim against AGF, are covered by insurance. We expense legal fees and directly-related costs as incurred. We received insurance proceeds of $276,000, $430,000 and $335,000 during 2017, 2016 and 2015, respectively, and had recorded a receivable of $212,000 and $186,000 as of December 31, 2017 and 2016, respectively, which represents our current minimum estimate of expenses that we expect to recover under our insurance policies. This receivable is part of “Other current assets” on our Consolidated Balance Sheets.

Segment Reporting

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING:

We operate two segments: Advisory and Trust. These segments are managed separately based on the types of products and services offered and their related client bases. The Company’s segment information is prepared on the same basis that management uses to review the financial information for operational decision-making purposes. The Company's chief operating decision maker, our Chief Executive Officer, evaluates the performance of our segments based primarily on fee revenues and Economic Earnings. Westwood Holdings Group, Inc., the parent company of Advisory and Trust, does not have revenues and is the entity in which we record typical holding company expenses including employee compensation and benefits for holding company employees, directors’ fees and investor relations costs. All segment accounting policies are the same as those described in the summary of significant accounting policies. Intersegment balances that eliminate in consolidation have been applied to the appropriate segment.

Advisory

Our Advisory segment provides investment advisory services to corporate retirement plans, public retirement plans, endowments, foundations, individuals, the Westwood Funds®, and the UCITS Fund, as well as investment subadvisory services to mutual funds and our Trust segment. Westwood Management Corp. and Westwood International Advisors, which provide investment advisory services to clients of similar type, are included in our Advisory segment, along with Westwood Advisors, L.L.C.

Trust

Westwood Trust provides trust and custodial services and participation in common trust funds that it sponsors to institutions and high net worth individuals. Westwood Trust is included in our Trust segment.



(in thousands)	Advisory		Trust			Westwood Holdings			Eliminations			Consolidated
Year Ended December 31, 2017
Revenues:
Net fee revenues from external sources	$	100,612	$	31,621		$	—		$	—		$	132,233
Net intersegment revenues	8,120		218			—			(8,338		)	—
Net interest and dividend revenue	546		90			—			—			636
Other revenue	911		5			—			—			916
Total revenues	110,189		31,934			—			(8,338		)	133,785
Expenses:
Depreciation and amortization	548		1,900			468			—			2,916
Other operating expenses	58,950		28,580			17,784			(8,338		)	96,976
Total expenses	59,498		30,480			18,252			(8,338		)	99,892
Income (loss) before income taxes	50,691		1,454			(18,252		)	—			33,893
Income tax expense (benefit)	17,120		(47		)	(3,169		)	—			13,904
Net income (loss)	$	33,571	$	1,501		$	(15,083	)	$	—		$	19,989
Add: Restricted stock expense	$	9,140	$	2,641		$	4,649		$	—		$	16,430
Intangible amortization	138		1,734			—			—			1,872
Deferred taxes on goodwill	38		588			—			—			626
Economic Earnings (Loss)	$	42,887	$	6,464		$	(10,434	)	$	—		$	38,917

Segment assets	$	207,792	$	69,174		$	18,437		$	(102,744	)	$	192,659
Segment goodwill	$	5,219	$	21,925		$	—		$	—		$	27,144
Expenditures for long-lived assets	$	151	$	530		$	203		$	—		$	884

Year Ended December 31, 2016
Revenues:
Net fee revenues from external sources	$	92,127	$	30,313		$	—		$	—		$	122,440
Net intersegment revenues	7,533		130			—			(7,663		)	—
Net interest and dividend revenue	534		13			—			—			547
Other revenue	294		(260		)	—			—			34
Total revenues	100,488		30,196			—			(7,663		)	123,021
Expenses:
Depreciation and amortization	575		1,975			379			—			2,929
Other operating expenses	50,824		27,348			15,573			(7,663		)	86,082
Total expenses	51,399		29,323			15,952			(7,663		)	89,011
Income (loss) before income taxes	49,089		873			(15,952		)	—			34,010
Income tax expense (benefit)	16,331		426			(5,394		)	—			11,363
Net income	$	32,758	$	447		$	(10,558	)	$	—		$	22,647
Add: Restricted stock expense	$	9,632	$	3,026		$	3,296		$	—		$	15,954
Intangible amortization	160		1,800			—			—			1,960
Deferred taxes on goodwill	38		509			—			—			547
Economic Earnings	$	42,588	$	5,782		$	(7,262	)	$	—		$	41,108

Segment assets	$	174,951	$	67,330		$	13,985		$	(76,588	)	$	179,678
Segment goodwill	$	5,219	$	21,925		$	—		$	—		$	27,144
Expenditures for long-lived assets	$	705	$	530		$	584		$	—		$	1,819



(in thousands)	Advisory			Trust		Westwood Holdings			Eliminations			Consolidated
Year Ended December 31, 2015
Revenues:
Net fee revenues from external sources	$	101,973		$	28,795	$	—		$	—		$	130,768
Net intersegment revenues	19,001			—		—			(19,001		)	—
Net interest and dividend revenue	425			1		—			—			426
Other revenue	(341		)	83		—			—			(258		)
Total revenues	121,058			28,879		—			(19,001		)	130,936
Expenses:
Depreciation and amortization	773			1,724		99			—			2,596
Other operating expenses	63,658			25,882		15,581			(19,001		)	86,120
Total expenses	64,431			27,606		15,680			(19,001		)	88,716
Income (loss) before income taxes	56,627			1,273		(15,680		)	—			42,220
Income tax expense (benefit)	19,330			517		(4,732		)	—			15,115
Net income (loss)	$	37,297		$	756	$	(10,948	)	$	—		$	27,105
Add: Restricted stock expense	$	11,877		$	2,613	$	3,084		$	—		$	17,574
Intangible amortization	161			1,385		—			—			1,546
Deferred taxes on goodwill	38			233		—			—			271
Economic Earnings (Loss)	$	49,373		$	4,987	$	(7,864	)	$	—		$	46,496

Segment assets	$	183,004		$	60,459	$	8,816		$	(70,943	)	$	181,336
Segment goodwill	$	5,219		$	21,925	$	—		$	—		$	27,144
Expenditures for long-lived assets	$	369		$	180	$	267		$	—		$	816

We provide a performance measure that we refer to as Economic Earnings. Our management and Board of Directors review Economic Earnings to evaluate our ongoing performance, allocate resources and determine our dividend policy. We believe that this performance measure is useful for management and investors when evaluating our underlying operating and financial performance and our available resources.

In calculating Economic Earnings, we add to Net income the non-cash expense associated with equity-based compensation awards of restricted stock, amortization of intangible assets and the deferred taxes related to the tax-basis amortization of goodwill. Although depreciation on property and equipment is a non-cash expense, we do not add it back when calculating Economic Earnings because depreciation charges represent a decline in the value of the related assets that will ultimately require replacement.

The following table provides a reconciliation of Net income to Economic Earnings (in thousands):



	For the years ended December 31,
	2017		2016		2015
Net Income	$	19,989	$	22,647	$	27,105
Add: Restricted stock expense	16,430		15,954		17,574
Add: Intangible amortization	1,872		1,960		1,546
Add: Tax benefit from goodwill amortization	626		547		271
Economic Earnings	$	38,917	$	41,108	$	46,496

Geographical information



	Years ended December 31,
(in thousands)	2017		2016		2015
Revenues by geographic location of client:
U.S.	$	111,097	$	103,261	$	109,816
Canada	9,169		7,714		9,238
Europe	3,873		5,416		6,019
Asia	6,312		4,872		4,538
Australia	3,334		1,758		1,325
Total Revenues	$	133,785	$	123,021	$	130,936



	As of December 31,
(in thousands)	2017		2016
Property and equipment, net, by geographic area:
U.S.	$	4,107	$	4,002
Canada	83		278
Total Property and equipment, net	$	4,190	$	4,280

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS: Divestiture of our Omaha Operations As discussed in Note 1 "Description of Business," we completed the sale of the Omaha-based component of our Private Wealth business on January 12, 2018. We received proceeds of $10.6 million and have calculated a preliminary gain on the sale of approximately $520,000, which will be recorded in the first quarter of 2018. The sale reduced our Total assets by $9.7 million, including Goodwill of $7.3 million and Intangible assets, net of $2.2 million. Dividends Declared On February 8, 2018, the Board of Directors declared a quarterly cash dividend of $0.68 per share on common stock payable on April 2, 2018 to stockholders of record on March 9, 2018. Restricted Stock Grants On February 23, 2018, we expect to issue approximately $9.7 million of restricted stock to employees, or approximately 169,000 shares based on the closing price of our stock on February 21, 2018. The shares are subject to vesting conditions described in Note 9 "Employee Benefits" of our Consolidated Financial Statements in this Report.

Quarterly Financial Data

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (Unaudited)

QUARTERLY FINANCIAL DATA (Unaudited):

The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2017 and 2016 (in thousands, except per share amounts):



	Quarter
	First		Second		Third		Fourth
2017
Revenues	$	32,623	$	33,756	$	33,492	$	33,914
Income before income taxes	7,770		10,583		5,752		9,788
Net income	6,064		6,896		4,132		2,897
Basic earnings per common share	0.75		0.84		0.51		0.35
Diluted earnings per common share	0.73		0.83		0.49		0.34

2016
Revenues	$	29,129	$	31,023	$	31,777	$	31,092
Income before income taxes	5,646		8,512		9,053		10,799
Net income	3,522		5,661		5,887		7,577
Basic earnings per common share	0.45		0.71		0.74		0.95
Diluted earnings per common share	0.44		0.69		0.72		0.92

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2017
Accounting Policies [Abstract]
Earnings Per Share, Policy [Policy Text Block]	Basic earnings per common share (“EPS”) is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding. Diluted EPS is computed based on the weighted average shares of common stock outstanding plus the effect of any dilutive shares of restricted stock granted to employees and non-employee directors.
Principles of consolidation	Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of Westwood and its subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. We assess each legal entity that we manage to determine whether consolidation is appropriate at the onset of the relationship. We first determine whether the entity is a variable interest entity (“VIE”), or a voting interest entity (“VOE”), under U.S. generally accepted accounting principles (“GAAP”) and whether we have a controlling financial interest in the entity. Assessing whether or not an entity is a VOE or VIE and if it requires consolidation involves judgment and analysis. Factors considered in this assessment include, but are not limited to, the legal organization of the entity, our equity ownership and contractual involvement with the entity and any related party or de facto agent implications of our involvement with the entity. We reconsider whether entities are a VIE or VOE whenever contractual arrangements change, the entity receives additional equity or returns equity to its investors or changes in facts and circumstances occur that change the investors’ abilities to direct the activities of the entity. A VIE is an entity in which (i) the total equity investment at risk is not sufficient to enable the entity to finance its activities without subordinated financial support, (ii) the at-risk equity holders, as a group, lack the characteristics of a controlling financial interest or (iii) the entity is structured with disproportionate voting rights, and substantially all of the activities are conducted on behalf of an investor with disproportionately few voting rights. That is, the at-risk equity holders do not have the obligation to absorb significant losses, the right to receive residual returns and the right to direct the activities of the entity that most significantly impact the entity’s economic performance. An enterprise must consolidate all VIEs of which it is the primary beneficiary. We determine if a sponsored investment meets the definition of a VIE by considering whether the fund’s equity investment at risk is sufficient to finance its activities without additional subordinated financial support and whether the fund’s at-risk equity holders absorb any losses, have the right to receive residual returns and have the right to direct the activities of the entity most responsible for the entity’s economic performance. The primary beneficiary of a VIE is defined as the party that, considering the involvement of related parties and de facto agents, has (i) the power to direct the activities of the VIE that most significantly affect its economic performance and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. This evaluation is updated continuously. A VOE is an entity that is outside the scope of the guidance for VIEs. Consolidation of a VOE is required when a reporting entity owns a controlling financial interest in a VOE. Ownership of a majority of the voting interests is the usual condition for a controlling financial interest. We have evaluated all of our advisory relationships with Westwood Investment Funds PLC (the “UCITS Fund”), the Westwood Funds®, limited liability companies ("LLCs") and our relationship as sponsor of the Common Trust Funds ("CTFs") to determine whether each of these entities is a VIE or VOE. Based on our analysis, we determined that the LLCs and CTFs were VIEs, as the at-risk equity holders do not have the ability to direct the activities that most significantly impact the entity’s economic performance, and the Company and its representatives have a majority control of the entity's Board of Directors and can influence the entity's management and affairs. Although we have related parties on the UCITS Fund board of directors, the shareholders have rights to remove the current directors with a simple majority vote, so we determined the UCITS Fund is not a VIE. As the Company and its representatives do not have representation on the Westwood Funds'® independent board of directors, which direct the activities that most significantly impact the entity's economic performance, we determined that the Westwood Funds® were not VIEs. Therefore, the UCITS Fund and the Westwood Funds® should be analyzed under the VOE consolidation method. Based on our analysis of our seed investments in these entities for the year ended December 31, 2017, we have not consolidated the LLCs or CTFs under the VIE method or the UCITS Fund or the Westwood Funds® under the VOE method, and therefore the results of these entities are not included in the Company’s consolidated financial results. We have included the disclosures related to VIEs and VOEs in Note 11 "Variable Interest Entities."
Use of Estimates	Use of Estimates The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of money market accounts and other short-term, highly liquid investments with maturities of three months or less, other than pooled investment vehicles that are considered investments. We maintain some cash and cash equivalents balances with financial institutions that are in excess of Federal Deposit Insurance Corporation insurance limits. The Company has not experienced losses on uninsured cash accounts.
Accounts Receivable	Accounts Receivable Accounts receivable represents balances arising from services provided to customers and are recorded on an accrual basis, net of any allowance for doubtful accounts. Accounts receivable are written off when they are determined to be uncollectible. Any allowance for doubtful accounts is estimated based on the Company’s historical amounts written off, existing conditions in the industry, and the financial stability of the customer. The majority of our accounts receivable balances consist of advisory and trust fees receivable from customers that we believe and have experienced to be fully collectible. Accordingly, our Consolidated Financial Statements do not include an allowance for bad debt nor any bad debt expense.
Investments	Investments Investments are classified as trading securities and are carried at quoted market values on the accompanying Consolidated Balance Sheets. Net unrealized holding gains or losses on investments classified as trading securities are reflected as a component of other revenues. We measure realized gains and losses on investments using the specific identification method.
Fair Value of Financial Instruments	Fair Value of Financial Instruments We determined the estimated fair values of our financial instruments using available information. The fair value amounts discussed in Notes 3 "Investments" and 4 "Fair Value of Financial Instruments" are not necessarily indicative of either the amounts realizable upon disposition of these instruments or our intent or ability to dispose of these assets. The estimated fair value of cash and cash equivalents, accounts receivable, prepaid income taxes, other current assets, accounts payable and accrued liabilities, dividends payable, compensation and benefits payable and income taxes payable approximates their carrying value due to their short-term maturities. The carrying amount of investments designated as “trading” securities, primarily U.S. Government and Government agency obligations, money market funds, Westwood Funds® mutual funds, the UCITS Fund and Westwood Trust common trust fund shares, equals fair value based on prices quoted in active markets and, with respect to funds, the reported net asset value ("NAV") of the shares held. Market values of our money market holdings generally do not fluctuate.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Goodwill is not amortized but is tested at least annually for impairment. We test more frequently if indicators are present or changes in circumstances suggest that impairment may exist. These indicators include declines in revenues, earnings or cash flows, or the development of a material adverse change in the business climate. We assess goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a component. We have identified two reporting units, which are consistent with our reporting segments: Advisory and Trust. The Company is not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that its fair value is less than the carrying amount. We assess goodwill for impairment using either a qualitative or quantitative assessment. The qualitative assessment includes consideration of the current trends in the industry in which we operate, macroeconomic conditions, recent financial performance of our reporting units and a market multiple approach valuation. In performing the annual impairment test during the third quarter, or more frequently when impairment indicators exist, and after assessing the qualitative factors, we may be required to utilize the two-step approach prescribed by ASC 350, Goodwill and Other Intangible Assets. We may also elect to skip the qualitative assessment and proceed directly to the quantitative analysis. The quantitative analysis requires a comparison of each reporting unit’s carrying value to the fair value of the respective unit. If the carrying value exceeds the fair value, a second step is performed to measure the amount of impairment loss. The fair value of each reporting unit is estimated, entirely or predominantly, using a market multiple approach. During the third quarter of 2017 we completed our annual goodwill impairment assessment and determined that no impairment loss was required. No impairments were recorded during any of the periods presented. Our intangible assets represent the acquisition date fair value of the acquired client relationships, trade names and non-compete agreements, as well as the cost of internally-developed software, each of which is reflected net of amortization. In valuing these assets, we made significant estimates regarding their useful lives, growth rates and potential attrition. We periodically review our intangible assets for events or circumstances that would indicate impairment. See Note 5 "Acquisitions, Goodwill and Other Intangible Assets."
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation of furniture and equipment is provided over the estimated useful lives of the assets (from 3 to 7 years), and depreciation on leasehold improvements is provided over the lesser of the estimated useful life or lease term using the straight-line method. We capitalize leasehold improvements, furniture and fixtures, computer hardware and most office equipment purchases.
Revenue Recognition	Revenue Recognition Investment advisory and trust fees are recognized as services are provided. These fees are determined in accordance with contracts between our subsidiaries and their clients and are generally based on a percentage of assets under management. A limited number of our clients have contractual performance-based fee arrangements that pay us an additional fee if we outperform a specified index over a specific period of time. We record revenue for performance-based fees at the end of the measurement period. Most advisory and trust fees are payable in advance or in arrears on a calendar quarterly basis. Advance payments are deferred and recognized over the periods services are performed. Since billing periods for most of our advance paying clients coincide with the calendar quarter to which payment relates, revenue is fully recognized within the quarter. Consequently no significant amount of deferred revenue is contained in our Consolidated Financial Statements. Deferred revenue is shown on the Consolidated Balance Sheets under the heading of “Accounts payable and accrued liabilities.” Other revenues generally consist of interest and investment income, which are recognized as earned.
Stock Based Compensation	Stock-Based Compensation We have issued restricted stock to our U.S. employees and Board of Directors in accordance with our Fourth Amended and Restated Westwood Holdings Group, Inc. Stock Incentive Plan (the “Plan”). We account for stock-based compensation in accordance with ASC 718, Compensation-Stock Compensation and adopted Accounting Standards Update ("ASU") 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting effective January 1, 2017. Under ASC 718, stock-based compensation expense reflects the fair value of stock-based awards measured at grant date and is recognized over the relevant service period. We expense the fair value of stock-based compensation awards granted to our employees and directors in our Consolidated Financial Statements on a straight-line basis over the period that services are required to be provided in exchange for the award (“requisite service period”), which is typically the period over which the award vests. Stock-based compensation is recognized only for awards that vest. We measure the fair value of compensation cost related to restricted stock awards based on the closing market price of our common stock on the grant date. For performance-based share awards, we assess actual performance versus the predetermined performance goals and record compensation expense once we conclude it is probable that we will meet the performance goals required to vest the applicable performance-based awards. The following summarizes the effects of the adoption of ASU 2016-09 on our Condensed Consolidated Financial Statements: Income Taxes - Upon adoption of this standard, all excess tax benefits and tax deficiencies, including tax benefits of dividends on share-based payment awards, are recognized as income tax expense or benefit in the Consolidated Statement of Comprehensive Income. The tax effects of exercised or vested awards are treated as discrete items in the reporting period in which they occur. As a result, the Company recognized discrete adjustments to income tax expense of $1.0 million in 2017 related to excess tax benefits, decreasing our effective tax rate for 2017 by 2.9%. Without the adjustment, our effective tax rate would have been 43.9%. The Company did not have any unrecognized excess tax benefits as of December 31, 2016 and therefore there was no cumulative-effect adjustment to retained earnings related to income taxes. The Company adopted the amendments related to the recognition of excess tax benefits and tax shortfalls prospectively, with no adjustments made to prior periods. Forfeitures - Prior to adoption, stock-based compensation expense was recognized on a straight-line basis, net of estimated forfeitures, such that expense was recognized for stock-based awards that were expected to vest. A forfeiture rate was estimated annually and revised, if necessary, in subsequent periods if actual forfeitures differed from initial estimates. Upon adoption of this standard, the Company no longer applies an estimated forfeiture rate and instead accounts for forfeitures as they occur. The Company applied the modified retrospective adoption approach, resulting in a $711,000 cumulative-effect reduction to “Retained earnings” with the offset to “Additional paid-in-capital” on January 1, 2017. Statements of Cash Flows - The Company historically accounted for excess tax benefits on the Consolidated Statements of Cash Flows as a financing activity. Upon adoption of this standard, excess tax benefits are classified along with other income tax cash flows as an operating activity. The change in cash flow classification associated with excess tax benefits was adopted prospectively, resulting in the classification of the $1.0 million excess tax benefit as an operating activity during the twelve months ended December 31, 2017. No change in classification was necessary for the presentation of restricted stock returned for payment of taxes, as the Company has historically presented such payments as a financing activity. The Company adopted this portion of the standard on a prospective basis, with no adjustments made to prior periods. Earnings Per Share - The Company uses the treasury stock method to compute diluted earnings per share, unless the effect would be anti-dilutive. Under the new standard, the Company is no longer required to estimate the tax effect of anticipated windfall benefits or shortfalls when projecting proceeds available for share repurchases in calculating dilutive shares. The Company utilized the modified retrospective adoption approach, with no adjustments made to prior periods. The Share Award Plan of Westwood Holdings Group, Inc. for Service Provided in Canada to its Subsidiaries (the “Canadian Plan”) provides compensation in the form of common stock for services performed by employees of Westwood International Advisors. We record compensation costs for these awards on a straight-line basis over the vesting period once we determine it is probable that the award will be earned. Awards expected to be settled in shares are funded into a trust pursuant to an established Canadian employee benefit plan. Generally, the Canadian trust subsequently acquires Westwood common shares in market transactions and holds such shares until the shares are vested and distributed, or forfeited. Shares held in the trust are shown on our Consolidated Balance Sheet as treasury shares. Until shares are acquired by the trust, we record compensation costs and measure the liability as a cash-based award, which is included in “Compensation and benefits payable” on our Consolidated Balance Sheets. For the years ended December 31, 2017, 2016 and 2015, the compensation expense recorded for these awards was $232,000, $524,000 and $145,000, respectively. When the number of shares related to an award is determinable, the award becomes an equity award accounted for in a manner similar to restricted stock, which is described in Note 9 "Employee Benefits."
Currency Translation	Currency Translation Assets and liabilities of Westwood International Advisors, our non-U.S. dollar functional currency subsidiary, are translated at exchange rates as of applicable reporting dates. The gains and losses resulting from translating non-U.S. dollar functional currency into U.S. dollars are recorded through other comprehensive income. Revenue and expense transactions are recorded at the rates of exchange prevailing on the dates of the transactions. Gains and losses resulting from transactions in foreign currencies are included in "General and administrative" expenses in our Consolidated Statements of Comprehensive Income. For the year ended December 31, 2017, we recorded a loss of $1.6 million. For the years ended December 31, 2016 and 2015, we recorded a gain of $362,000 and $544,000, respectively.
Income Taxes	Income Taxes We file a United States federal income tax return as a consolidated group for Westwood and its subsidiaries based in the United States. We file a Canadian income tax return for Westwood International Advisors. Deferred income tax assets and liabilities are determined based on temporary differences between the financial statements and income tax bases of assets and liabilities as measured at enacted income tax rates. On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Reform Act”) was signed into law. Further information on the tax impacts of the Tax Reform Act is included in Note 7 "Income Taxes." Deferred income tax expense is generally the result of changes in deferred tax assets and liabilities. Deferred taxes relate primarily to incentive compensation and stock-based compensation expense. We record net deferred tax assets to the extent we believe such assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event we were to determine that we would not be able to realize our deferred income tax assets in the future, we would record a valuation allowance. No such valuation allowance has been recorded in our Consolidated Financial Statements. We account for uncertain tax positions by recognizing the impact of a tax position in our Consolidated Financial Statements when we believe it is more likely than not that the tax position would not be sustained upon examination by the appropriate tax authority based on the merits of the position. We include penalties and interest on income-based taxes, if any, in the “General and administrative” line on our Consolidated Statements of Comprehensive Income. At December 31, 2017, we had $160,000 of unrecognized tax benefits accrued, net of $46,000 federal deferred tax assets, related to uncertain tax positions. At December 31, 2016, we had $2.5 million of unrecognized tax benefits accrued, net of $942,000 federal deferred tax assets, related to uncertain tax positions. See Note 7 "Income Taxes."
Business Combinations	Business Combinations In allocating the purchase price of a business combination, the Company records all assets acquired and liabilities assumed at fair value, with the excess of the purchase price over the aggregate fair values recorded as goodwill. ASC 820, Fair Value Measurements, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The purchase price of an acquisition is allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values as of the date of acquisition. To the extent the purchase price exceeds the fair value of the net identifiable tangible and intangible assets acquired and liabilities assumed, such excess is allocated to goodwill. The Company determines the estimated fair values after review and consideration of relevant information, including discounted cash flows, quoted market prices and estimates made by management. The fair value assigned to identifiable intangible assets acquired is based on estimates and assumptions made by management at the time of the acquisition. The Company adjusts the preliminary purchase price allocation, as necessary, during the measurement period of up to one year after the acquisition closing date as it obtains more information as to facts and circumstances existing as of the acquisition date. Acquisition-related costs are recognized separately from the acquisition and are expensed as incurred. The acquired customer accounts, trade names and non-compete agreements are subject to fair value measurements based primarily on significant inputs not observable in the market and thus represent level 3 measurements. The valuation of an acquired customer list utilizes an income approach, which provides an estimate of the fair value of an asset based on discounted cash flows and management estimates, including the estimated growth associated with existing clients, market growth and client attrition. The valuation of acquired trade names uses a relief-from-royalty method in which the fair value of the intangible asset is estimated to be the present value of royalties saved because the Company owns the intangible asset. Revenue projections and estimated useful lives are used in estimating the fair value of the trade names. The non-compete agreements are calculated using the with-or-without method, which utilizes the probability of these employees competing with the Company and revenue projections to calculate the valuation of non-compete agreements. When an acquisition includes future contingent consideration on achieving certain annualized revenue from the post-closing acquired business over a specified time period, the Company estimates the fair value of the earn-out using overall revenue growth projections combined with lost revenue projections from existing customer base, both discounted and probability-weighted. A liability is recorded for the estimated fair value of the contingent consideration on the acquisition date, and the fair value of the contingent consideration is remeasured at each subsequent reporting period, with any change in fair value recognized as income or expense within the Consolidated Statement of Comprehensive Income.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2017, the Financial Accounting Standards Board ("FASB") issued ASU 2017-09, Compensation- Stock Compensation (Topic 718): Scope of Modification Accounting. The ASU provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modified accounting under ASC 718. The purpose of the amendment is to reduce diversity, cost and complexity in practice when analyzing and applying these modifications. The ASU is effective for periods beginning after December 15, 2017. We do not expect the amendment to have a material impact on our Consolidated Financial Statements and expect to adopt the standard within the required time frame. In January 2017, the FASB issued Accounting Standards Update (ASU) 2017-04, Intangibles- Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The amendment eliminates step two from the goodwill impairment test in order to simplify the subsequent measurement of goodwill. Under step two, an entity had to perform procedures to determine the fair value of its assets and liabilities at the impairment testing date following procedures required to determine the fair value of assets acquired and liabilities assumed in a business combination. Under ASU 2017-04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. The amendment is effective, on a prospective basis, for annual or interim periods beginning after December 15, 2019, with early adoption permitted. We do not expect the amendment to have a material impact on our Consolidated Financial Statements and expect to adopt the standard within the required time frame. In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments. The amendment addresses eight classification issues related to the statement of cash flows, including debt prepayment or debt extinguishment costs, settlement of zero-coupon bonds, contingent consideration payments made after a business combination, proceeds from settlements of insurance claims, proceeds from settlements of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and classification of separately identifiable cash flows. Adoption should be applied using the retrospective transition method. Early adoption is permitted. The amendment is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2017. We do not expect the adoption of ASU 2016-08 to have a material impact on our Consolidated Financial Statements and disclosures and expect to adopt the standard within the required time frame. In February 2016, the FASB issued ASU 2016-02, Leases. ASU 2016-02 requires lessees to recognize a lease liability and a right-of-use asset for all leases at the commencement date, excluding short-term leases. The amendment is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. We are currently evaluating the impact that the application of ASU 2016-02 will have on our Consolidated Financial Statements and disclosures and expect to adopt the standard within the required time frame. In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. The main objective of this update is to enhance the reporting model for financial instruments to provide users of financial statements with more useful information for making decisions. The amendment addresses various aspects of recognition, measurement, presentation and disclosure of financial instruments. The amendment is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. We do not expect the application of ASU 2016-01 to have a material impact on our Consolidated Financial Statements and disclosures and expect to adopt the new standard in the required time frame. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which resulted from a joint project by the FASB and the International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP and International Financial Reporting Standards ("IFRS"). The issuance of a comprehensive and converged standard on revenue recognition is expected to improve the ability of financial statement users to understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The standard will require additional disclosures to help financial statement users better understand the nature, amount, timing, and potential uncertainty of the revenue being recognized. In August 2015, in order to amend the effective date of ASU 2014-09, the FASB issued ASU 2015-14, Revenue from Contracts with Customers – Deferral of the Effective Date. Under the amendment, the effective date of ASU 2014-09 has been extended by one year for all entities. For public entities, the ASU will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing, which clarifies the guidance related to identifying performance obligations and the licensing guidance in ASU 2014-09. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Reporting Revenue Gross versus Net), which clarifies the implementation guidance on principal versus agent considerations in ASU 2014-09. The amendment is effective for fiscal years beginning after December 15, 2017, including interim reporting periods within that reporting year. Management completed a detailed review of the terms and conditions of our current contracts, including performance based fees, and we will not have a significant change in the timing of revenue recognized. As part of our review we analyzed our current business process and internal controls and did not need to implement new procedures to successfully adopt the standard. We adopted the standard effective January 1, 2018, and the adoption did not have a material impact on our Consolidated Financial Statements. Beginning with our Form 10-Q filed for the quarter ended March 31, 2018, we will enhance and add disclosures surrounding our revenue process including disaggregation of revenue and information about performance obligations that will help provide the financial statement users a better understanding of the nature, amount, timing and potential uncertainty of the revenue being recognized.

Investments (Tables)

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Investment Balances

All investments are carried at fair value and are accounted for as trading securities. Investment balances are presented below (in thousands):



	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
December 31, 2017:
U.S. Government and Government agency obligations	$	29,367	$	21	$	(15	)	$	29,373
Money market funds	9,736		—		—			9,736
Equity funds	11,578		657		(20		)	12,215
Marketable securities	$	50,681	$	678	$	(35	)	$	51,324

December 31, 2016:
U.S. Government and Government agency obligations	$	30,275	$	—	$	(2	)	$	30,273
Money market funds	14,127		—		—			14,127
Equity funds	12,057		204		(176		)	12,085
Marketable securities	$	56,459	$	204	$	(178	)	$	56,485

Other Revenue



	2017			2016			2015
Realized gains	$	395		$	113		$	283
Realized losses	(96		)	(220		)	(43		)
Net realized gains (losses)	$	299		$	(107	)	$	240
Income tax expense (benefit) from gains (losses)	$	105		$	(37	)	$	84
Interest income – trading	$	334		$	282		$	143
Dividend income	$	302		$	265		$	284
Unrealized gains/(losses)	$	617		$	510		$	(613	)

- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

+ References + Details

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Values of Assets Within Fair Value Hierarchy

The following table summarizes the values of our assets and liabilities as of the dates indicated within the fair value hierarchy (in thousands):



	Level 1		Level 2		Level 3		Investments Measured at NAV ⁽¹⁾		Total
As of December 31, 2017
Investments in trading securities	$	48,998	$	—	$	—	$	2,326	$	51,324
Total financial instruments	$	48,998	$	—	$	—	$	2,326	$	51,324

As of December 31, 2016
Investments in trading securities	$	53,319	$	—	$	—	$	3,166	$	56,485
Total financial instruments	$	53,319	$	—	$	—	$	3,166	$	56,485

(1) Comprised of certain investments measured at fair value using NAV as a practical expedient. These investments were recategorized and are no longer included within Level 2 of the valuation hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in our Consolidated Balance Sheets.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Acquisitions, Goodwill and Other Intangible Assets (Tables) - USD ($)

12 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Business Acquisition, Pro Forma Information

This unaudited pro forma information should not be relied upon as being necessarily indicative of the historical results that would have been obtained if the Merger had actually occurred on that date, nor of the results that may be obtained in the future.



Pro Forma Results (in thousands)	Year Ended December 31, 2015
Total revenues	$	133,628
Net income	$	28,080

Changes in Goodwill

Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying identifiable assets at the date of acquisition. Changes in goodwill are as follows (in thousands):



	As of December 31,
	2017		2016
Beginning balance	$	27,144	$	27,144
Acquired goodwill	—		—
Ending balance	$	27,144	$	27,144

Summary of Intangible Assets

The following is a summary of intangible assets at December 31, 2017 and 2016 (in thousands, except years):



	Weighted Average Amortization Period (years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
2017
Client relationships	14.8	$	25,396	$	(6,302	)	$	19,094
Trade names	4.2	942		(633		)	309
Non-compete agreements	2.9	283		(262		)	21
Internally developed software	7.0	418		(38		)	380
		$	27,039	$	(7,235	)	$	19,804
2016
Client relationships	14.8	$	25,396	$	(4,672	)	$	20,724
Trade names	4.2	942		(496		)	446
Non-compete agreements	2.9	283		(176		)	107
Internally developed software	7.0	136		(19		)	117
		$	26,757	$	(5,363	)	$	21,394

Goodwill impairment loss

$ 0

Amortization expense

$ 1,872,000

$ 1,960,000

$ 1,546,000

Estimated Amortization Expense for Intangible Assets over the Next Five Years

Estimated amortization expense for intangible assets over the next five years is as follows (in thousands):



	Estimated Amortization Expense
For the year ending December 31,
2018	$	1,672
2019	1,651
2020	1,530
2021	1,419
2022	1,419

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Property and Equipment

The following table reflects information about our property and equipment as of December 31, 2017 and 2016 (in thousands):



	As of December 31,
	2017			2016
Leasehold improvements	$	4,170		$	3,908
Furniture and fixtures	2,243			2,362
Computer hardware and office equipment	2,745			2,306
Construction in progress	705			294
Accumulated depreciation	(5,673		)	(4,590		)
Property and equipment, net	$	4,190		$	4,280

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss were as follows (in thousands):



	As of December 31,
	2017			2016
Foreign currency translation adjustment, net of tax of $46 and $10	$	(1,764	)	$	(4,287	)
Accumulated other comprehensive loss	$	(1,764	)	$	(4,287	)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income (Loss) Before Income Taxes by Jurisdiction

Income before income taxes by jurisdiction is as follows (in thousands):



	Years ended December 31,
	2017		2016		2015
United States	$	17,531	$	21,539	$	27,324
Canada	16,362		12,471		14,896
Total	$	33,893	$	34,010	$	42,220

Difference between the Federal Corporate Tax Rate and the Effective Tax Rate

The difference between the Federal corporate tax rate and the effective tax rate is comprised of the following (in thousands):



	Years ended December 31,
	2017					2016					2015
Income tax provision computed at US federal statutory rate	$	11,859		35.0	%	$	11,893		35.0	%	$	14,777		35.0	%
Canadian rate differential	(1,398		)	(4.1	)	(1,050		)	(3.1	)	(1,287		)	(3.0	)
Change in uncertain tax positions, net of federal benefit	(3		)	—		542			1.6		1,059			2.5
State and local income taxes, net of federal benefit	626			1.9		230			0.6		465			1.1
Rate changes	1,578			4.6		—			—		—			—
Tax on deemed repatriation	1,767			5.2		—			—		—			—
Other, net	(525		)	(1.6	)	(252		)	(0.7	)	101			0.2
Total income tax expense	$	13,904		41.0	%	$	11,363		33.4	%	$	15,115		35.8	%
Effective income tax rate	41.0		%			33.4		%			35.8		%

Income Tax Provision (Benefit) as Set Forth in the Consolidated Statements of Income

Income tax provision (benefit) as set forth in the Consolidated Statements of Comprehensive Income consisted of the following components (in thousands):



	Years ended December 31,
	2017			2016			2015
Current taxes:
US Federal	$	1,122		$	6,765		$	12,015
State and local	662			1,136			2,564
Foreign	4,578			3,313			3,821
Total current taxes	6,362			11,214			18,400
Deferred taxes:
US Federal	7,569			314			(3,331		)
State and local	22			36			(156		)
Foreign	(49		)	(201		)	202
Total deferred taxes	7,542			149			(3,285		)
Total income tax expense	$	13,904		$	11,363		$	15,115

Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that give rise to the deferred tax assets and deferred tax liabilities are presented below (in thousands):



	As of December 31,
	2017			2016
Deferred tax assets:
Share-based compensation expense	$	3,851		$	6,325
Deferred rent	441			762
Compensation and benefits payable	719			4,907
Federal unrecognized tax benefit	46			942
Other	140			74
Total deferred tax assets	5,197			13,010
Deferred tax liabilities:
Property and equipment	(586		)	(1,013		)
Intangibles	(1,029		)	(1,023		)
Unrealized gains on investments	(175		)	(71		)
Total deferred tax liabilities	(1,790		)	(2,107		)
Net deferred tax assets	$	3,407		$	10,903

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in recorded uncertain tax positions during the years ended December 31, 2017 and 2016 is as follows (in thousands):



Balance at January 1, 2016	$	1,629
Additions for tax positions related to the current year	354
Additions for tax positions related to prior years	580
Reductions for tax positions related to prior years	(101		)
Balance at December 31, 2016	$	2,462
Additions for tax positions related to the current year	67
Reductions for tax positions related to prior years	(776		)
Payments for tax positions related to prior years	(1,593		)
Balance at December 31, 2017	$	160

Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2017

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Total Expense Recorded for Stock Based Compensation



	For the years ended December 31,
	2017		2016		2015
Service condition restricted stock expense	$	10,334	$	10,377	$	9,439
Performance-based restricted stock expense	5,387		4,927		7,403
Restricted stock expense under the Plan	15,721		15,304		16,842
Canadian Plan restricted stock expense	709		650		732
Total stock-based compensation expense	$	16,430	$	15,954	$	17,574
Total income tax benefit recognized related to stock-based compensation	$	6,168	$	4,749	$	6,217

Profit Sharing and 401(k) Contributions for the Periods

The following table displays our profit-sharing and retirement plan contributions for the periods presented (in thousands):



	Years ended December 31,
	2017		2016		2015
Profit-sharing contributions	$	1,613	$	1,001	$	965
Retirement plan matching contributions	1,602		1,518		1,319

Restricted Stock Subject Only to a Service Condition

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Status and Changes in Restricted Stock Grants that Subject to Service Condition

The following table details the status and changes in our restricted stock grants that are subject only to a service condition for the year ended December 31, 2017:



	Number of Shares		Weighted Average Grant Date Fair Value
Non-vested, January 1, 2017	607,501		$	54.67
Granted	143,460		61.20
Vested	(187,295	)	57.47
Forfeited	(44,291	)	54.99
Non-vested, December 31, 2017	519,375		$	55.44

Weighted-Average Grant Date Fair Value for Shares Granted and the Total Fair Value of Shares Vested

The following table shows the weighted-average grant date fair value for shares granted and the total fair value of shares vested during the years indicated:



	Years ended December 31,
	2017		2016		2015
Weighted-average grant date fair value	$	61.20	$	47.97	$	61.42
Fair value of shares vested (in thousands)	$	10,764	$	9,497	$	7,797

Restricted Shares Subject to Service and Performance Conditions

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Status and Changes in Restricted Stock Grants that Subject to Service Condition

The following table details the status and changes in our restricted stock grants subject to service and performance conditions for the year ended December 31, 2017:



	Number of Shares		Weighted Average Grant Date Fair Value
Non-vested, January 1, 2017	153,620		$	55.90
Granted	160,340		54.86
Vested	(102,367	)	56.58
Forfeited	(45,675	)	55.86
Non-vested, December 31, 2017	165,918		$	55.85

Weighted-Average Grant Date Fair Value for Shares Granted and the Total Fair Value of Shares Vested

The following table shows the weighted-average grant date fair value for shares granted and the total fair value of shares vested during the years indicated:



	Years ended December 31,
	2017		2016		2015
Weighted-average grant date fair value	$	54.86	$	55.90	$	61.29
Fair value of shares vested (in thousands)	$	5,792	$	6,209	$	5,936

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Computation of Basic and Diluted Shares

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share and share amounts):



	Years ended December 31,
	2017		2016		2015
Net income	$	19,989	$	22,647	$	27,105

Weighted average shares outstanding – basic	8,147,742		7,961,891		7,756,647
Dilutive potential shares from unvested restricted shares	252,280		182,979		350,755
Dilutive potential shares from contingent consideration	—		20,605		41,997
Weighted average shares outstanding – diluted	8,400,022		8,165,475		8,149,399
Earnings per share:
Basic	$	2.45	$	2.84	$	3.49
Diluted	$	2.38	$	2.77	$	3.33

Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2017

Variable Interest Entities [Abstract]

Variable Interest Entities



	As of December 31, 2017
	Assets Under Management		Corporate Investment		Amount at Risk
VIEs/VOEs:
Westwood Funds®	$	4,242	$	6	$	6
Common Trust Funds	2,564		2		2
LLCs	116		—		—
UCITS Fund	412		2		2
All other assets:
Private Wealth	2,886
Institutional	14,009
Total AUM	$	24,229

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Intersegment Balances



(in thousands)	Advisory		Trust			Westwood Holdings			Eliminations			Consolidated
Year Ended December 31, 2017
Revenues:
Net fee revenues from external sources	$	100,612	$	31,621		$	—		$	—		$	132,233
Net intersegment revenues	8,120		218			—			(8,338		)	—
Net interest and dividend revenue	546		90			—			—			636
Other revenue	911		5			—			—			916
Total revenues	110,189		31,934			—			(8,338		)	133,785
Expenses:
Depreciation and amortization	548		1,900			468			—			2,916
Other operating expenses	58,950		28,580			17,784			(8,338		)	96,976
Total expenses	59,498		30,480			18,252			(8,338		)	99,892
Income (loss) before income taxes	50,691		1,454			(18,252		)	—			33,893
Income tax expense (benefit)	17,120		(47		)	(3,169		)	—			13,904
Net income (loss)	$	33,571	$	1,501		$	(15,083	)	$	—		$	19,989
Add: Restricted stock expense	$	9,140	$	2,641		$	4,649		$	—		$	16,430
Intangible amortization	138		1,734			—			—			1,872
Deferred taxes on goodwill	38		588			—			—			626
Economic Earnings (Loss)	$	42,887	$	6,464		$	(10,434	)	$	—		$	38,917

Segment assets	$	207,792	$	69,174		$	18,437		$	(102,744	)	$	192,659
Segment goodwill	$	5,219	$	21,925		$	—		$	—		$	27,144
Expenditures for long-lived assets	$	151	$	530		$	203		$	—		$	884

Year Ended December 31, 2016
Revenues:
Net fee revenues from external sources	$	92,127	$	30,313		$	—		$	—		$	122,440
Net intersegment revenues	7,533		130			—			(7,663		)	—
Net interest and dividend revenue	534		13			—			—			547
Other revenue	294		(260		)	—			—			34
Total revenues	100,488		30,196			—			(7,663		)	123,021
Expenses:
Depreciation and amortization	575		1,975			379			—			2,929
Other operating expenses	50,824		27,348			15,573			(7,663		)	86,082
Total expenses	51,399		29,323			15,952			(7,663		)	89,011
Income (loss) before income taxes	49,089		873			(15,952		)	—			34,010
Income tax expense (benefit)	16,331		426			(5,394		)	—			11,363
Net income	$	32,758	$	447		$	(10,558	)	$	—		$	22,647
Add: Restricted stock expense	$	9,632	$	3,026		$	3,296		$	—		$	15,954
Intangible amortization	160		1,800			—			—			1,960
Deferred taxes on goodwill	38		509			—			—			547
Economic Earnings	$	42,588	$	5,782		$	(7,262	)	$	—		$	41,108

Segment assets	$	174,951	$	67,330		$	13,985		$	(76,588	)	$	179,678
Segment goodwill	$	5,219	$	21,925		$	—		$	—		$	27,144
Expenditures for long-lived assets	$	705	$	530		$	584		$	—		$	1,819



(in thousands)	Advisory			Trust		Westwood Holdings			Eliminations			Consolidated
Year Ended December 31, 2015
Revenues:
Net fee revenues from external sources	$	101,973		$	28,795	$	—		$	—		$	130,768
Net intersegment revenues	19,001			—		—			(19,001		)	—
Net interest and dividend revenue	425			1		—			—			426
Other revenue	(341		)	83		—			—			(258		)
Total revenues	121,058			28,879		—			(19,001		)	130,936
Expenses:
Depreciation and amortization	773			1,724		99			—			2,596
Other operating expenses	63,658			25,882		15,581			(19,001		)	86,120
Total expenses	64,431			27,606		15,680			(19,001		)	88,716
Income (loss) before income taxes	56,627			1,273		(15,680		)	—			42,220
Income tax expense (benefit)	19,330			517		(4,732		)	—			15,115
Net income (loss)	$	37,297		$	756	$	(10,948	)	$	—		$	27,105
Add: Restricted stock expense	$	11,877		$	2,613	$	3,084		$	—		$	17,574
Intangible amortization	161			1,385		—			—			1,546
Deferred taxes on goodwill	38			233		—			—			271
Economic Earnings (Loss)	$	49,373		$	4,987	$	(7,864	)	$	—		$	46,496

Segment assets	$	183,004		$	60,459	$	8,816		$	(70,943	)	$	181,336
Segment goodwill	$	5,219		$	21,925	$	—		$	—		$	27,144
Expenditures for long-lived assets	$	369		$	180	$	267		$	—		$	816

Schedule of Economic Earnings

The following table provides a reconciliation of Net income to Economic Earnings (in thousands):



	For the years ended December 31,
	2017		2016		2015
Net Income	$	19,989	$	22,647	$	27,105
Add: Restricted stock expense	16,430		15,954		17,574
Add: Intangible amortization	1,872		1,960		1,546
Add: Tax benefit from goodwill amortization	626		547		271
Economic Earnings	$	38,917	$	41,108	$	46,496

Revenues by Geographic Location



	Years ended December 31,
(in thousands)	2017		2016		2015
Revenues by geographic location of client:
U.S.	$	111,097	$	103,261	$	109,816
Canada	9,169		7,714		9,238
Europe	3,873		5,416		6,019
Asia	6,312		4,872		4,538
Australia	3,334		1,758		1,325
Total Revenues	$	133,785	$	123,021	$	130,936

Property and Equipment, Net by Geographic Area



	As of December 31,
(in thousands)	2017		2016
Property and equipment, net, by geographic area:
U.S.	$	4,107	$	4,002
Canada	83		278
Total Property and equipment, net	$	4,190	$	4,280

Concentration (Tables)

12 Months Ended

Dec. 31, 2017

Risks and Uncertainties [Abstract]

Concentration



	Years ended December 31,
(in thousands)	2017			2016			2015
Advisory fees from our largest client:
Asset-based fees	$	6,312		$	4,872		$	2,109
Performance-based fees	—			—			2,206
Percent of fee revenue	4.8		%	4.0		%	3.3		%

Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results of Operations

The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2017 and 2016 (in thousands, except per share amounts):



	Quarter
	First		Second		Third		Fourth
2017
Revenues	$	32,623	$	33,756	$	33,492	$	33,914
Income before income taxes	7,770		10,583		5,752		9,788
Net income	6,064		6,896		4,132		2,897
Basic earnings per common share	0.75		0.84		0.51		0.35
Diluted earnings per common share	0.73		0.83		0.49		0.34

2016
Revenues	$	29,129	$	31,023	$	31,777	$	31,092
Income before income taxes	5,646		8,512		9,053		10,799
Net income	3,522		5,661		5,887		7,577
Basic earnings per common share	0.45		0.71		0.74		0.95
Diluted earnings per common share	0.44		0.69		0.72		0.92

Description of the Business (Details Textual) - USD ($) $ in Thousands		12 Months Ended
	Apr. 01, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016
Business Acquisition [Line Items]
Date of incorporation		Dec. 12, 2001
Common stock issued for acquisition		$ 0	$ 3,734	$ 5,292
Woodway Financial Advisors
Business Acquisition [Line Items]
Cash and stock	$ 30,600
Maximum earn-out amount	$ 15,000
Contingent consideration					$ 9,300

Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2017 USD ($) reporting_units	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Schedule Of Significant Accounting Policies [Line Items]
Provision for income taxes	$ 13,904,000	$ 11,363,000	$ 15,115,000
Foreign Currency Transaction Gain (Loss), before Tax	$ 1,600,000	(362,000)	(544,000)
Number of reporting units \| reporting_units	2
Goodwill impairment loss	$ 0	0	0
Valuation allowance	0
Uncertain tax position	160,000	2,462,000	$ 1,629,000
Unrecognized tax benefits	$ 46,000	$ 942,000
Effective Income Tax Rate Reconciliation, Percent	41.00%	33.40%	35.80%
Furniture and fixtures \| Minimum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	3 years
Furniture and fixtures \| Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	7 years
Leasehold improvements
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	lesser of the estimated useful life or lease term
Westwood International Advisors Inc \| Canadian Plan
Schedule Of Significant Accounting Policies [Line Items]
Compensation expense recorded	$ 232,000	$ 524,000	$ 145,000
Retained Earnings
Schedule Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(711,000)
Adoption of ASU 2016-09 [Member]
Schedule Of Significant Accounting Policies [Line Items]
Provision for income taxes	$ 1,000,000
Effective Income Tax Rate Reconciliation, Percent	2.90%
Tax rate excluding ASU 2016-09 adoption	43.90%

Summary of Significant Accounting Policies New Accounting Pronouncements or Change in Accounting Principle (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for income taxes	$ 13,904	$ 11,363	$ 15,115
Effective Income Tax Rate Reconciliation, Percent	41.00%	33.40%	35.80%

Investments (Details) - USD ($) $ in Thousands	12 Months Ended
Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investment balances
Cost	$ 50,681	$ 56,459
Gross Unrealized Gains	678	204
Gross Unrealized Losses	(35)	(178)
Investments in trading securities	51,324	56,485
U.S. Government and Government agency obligations
Investment balances
Cost	29,367	30,275
Gross Unrealized Gains	21	0
Gross Unrealized Losses	(15)	(2)
Investments in trading securities	29,373	30,273
Money market funds
Investment balances
Cost	9,736	14,127
Investments in trading securities	9,736	14,127
Equity funds
Investment balances
Cost	11,578	12,057
Gross Unrealized Gains	657	204
Gross Unrealized Losses	(20)	(176)
Investments in trading securities	$ 12,215	$ 12,085

Investments (Details 1) - USD ($) $ in Thousands	12 Months Ended
Investments (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Realized gains	$ 395	$ 113	$ 283
Realized losses	(96)	(220)	(43)
Net realized gains (losses)	299	(107)	240
Income tax expense (benefit) from gains (losses)	105	(37)	84
Interest income – trading	334	282	143
Dividend income	302	265	284
Unrealized gains/(losses)	$ 617	$ 510	$ (613)

Investments (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Investments [Line Items]
Corporate Investment	$ 51,324	$ 56,485
UCITS Fund
Schedule Of Investments [Line Items]
Corporate Investment	$ 2,000

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investments in securities:
Investments in trading securities	$ 51,324	$ 56,485
Total financial instruments	51,324	56,485
Level 1
Investments in securities:
Investments in trading securities	48,998	53,319
Total financial instruments	48,998	53,319
Level 2
Investments in securities:
Investments in trading securities	0	0
Total financial instruments	0	0
Level 3
Investments in securities:
Investments in trading securities	0	0
Total financial instruments	0	0
Inputs, Net Asset Value [Member]
Investments in securities:
Investments in trading securities	2,326	3,166
Total financial instruments	$ 2,326	$ 3,166

Fair Value of Financial Instruments (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016
Business Acquisition [Line Items]
Other revenue	$ 916	$ 34	$ (258)
Woodway Financial Advisors
Business Acquisition [Line Items]
Contingent consideration				$ 9,300

Fair Value of Financial Instruments (Details 4) $ in Millions	Mar. 31, 2016 USD ($)
Woodway Financial Advisors
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	$ 9.3

Acquisitions, Goodwill and Other Intangible Assets (Details Textual) - USD ($)		3 Months Ended	12 Months Ended
	Apr. 01, 2015	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Amortization of intangible assets			$ 1,872,000	$ 1,960,000	$ 1,546,000
FinalContingentConsideration		$ 10,100,000
Professional services			$ 5,916,000	5,622,000	5,617,000
General and Administrative Expense
Business Acquisition [Line Items]
Amortization of intangible assets				$ 2,000,000	1,500,000
Woodway Financial Advisors
Business Acquisition [Line Items]
Cash and stock	$ 30,600,000
Maximum earn-out amount	$ 15,000,000
Percent of earn-out amount paid in cash		54.84%
Percent of earn-out amount paid in shares		45.16%
Contingent consideration		$ 9,300,000
Professional services					732,000
Pro Forma [Member] \| Woodway Financial Advisors
Business Acquisition [Line Items]
Transaction costs					$ 1,100,000

Acquisitions, Goodwill and Other Intangible Assets (Details 1) - Pro Forma [Member] - Woodway Financial Advisors $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($)
Business Acquisition [Line Items]
Total revenues	$ 133,628
Net income	$ 28,080

Acquisitions, Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Changes in goodwill
Beginning balance	$ 27,144	$ 27,144
Goodwill Acquired	0	0
Ending balance	$ 27,144	$ 27,144

Acquisitions, Goodwill and Other Intangible Assets (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Summary of intangible assets
Gross Carrying Amount	$ 27,039	$ 26,757
Accumulated Amortization	(7,235)	(5,363)
Net Carrying Amount	$ 19,804	$ 21,394
Client relationships
Summary of intangible assets
Weighted Average Amortization Period (years)	14 years 9 months 18 days	14 years 9 months 18 days
Gross Carrying Amount	$ 25,396	$ 25,396
Accumulated Amortization	(6,302)	(4,672)
Net Carrying Amount	$ 19,094	$ 20,724
Trade names
Summary of intangible assets
Weighted Average Amortization Period (years)	4 years 2 months 12 days	4 years 2 months 12 days
Gross Carrying Amount	$ 942	$ 942
Accumulated Amortization	(633)	(496)
Net Carrying Amount	$ 309	$ 446
Non-compete agreements
Summary of intangible assets
Weighted Average Amortization Period (years)	2 years 10 months 24 days	2 years 10 months 24 days
Gross Carrying Amount	$ 283	$ 283
Accumulated Amortization	(262)	(176)
Net Carrying Amount	$ 21	$ 107
Internally developed software
Summary of intangible assets
Weighted Average Amortization Period (years)	7 years	7 years
Gross Carrying Amount	$ 418	$ 136
Accumulated Amortization	(38)	(19)
Net Carrying Amount	$ 380	$ 117

Acquisitions, Goodwill and Other Intangible Assets (Details 4) $ in Thousands	Dec. 31, 2017 USD ($)
Estimated amortization expense for intangible assets for the next five years
2018	$ 1,672
2019	1,651
2020	1,530
2021	1,419
2022	$ 1,419

Balance Sheet Components (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Property and equipment
Accumulated depreciation	$ (5,673)	$ (4,590)
Net property and equipment	4,190	4,280
Leasehold improvements
Property and equipment
Property and equipment cost	4,170	3,908
Furniture and fixtures
Property and equipment
Property and equipment cost	2,243	2,362
Computer hardware and office equipment
Property and equipment
Property and equipment cost	2,745	2,306
Construction in progress
Property and equipment
Property and equipment cost	$ 705	$ 294

Balance Sheet Components (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Components of accumulated other comprehensive loss
Foreign currency translation adjustment, net of tax of $46 and $10	$ (1,764)	$ (4,287)
Accumulated other comprehensive loss	(1,764)	(4,287)
Foreign currency translation adjustment, tax	$ 46	$ 10

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income (loss) before income taxes by jurisdiction
United States									$ 17,531	$ 21,539	$ 27,324
Canada									16,362	12,471	14,896
Income (loss) before income taxes	$ 9,788	$ 5,752	$ 10,583	$ 7,770	$ 10,799	$ 9,053	$ 8,512	$ 5,646	$ 33,893	$ 34,010	$ 42,220

Income Taxes (Details Textual) - USD ($)	12 Months Ended
Income Taxes (Details Textual) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Tax Reform [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ 1,578,000
Prepaid Taxes	4,269,000	$ 0
Repatriation Earnings and Profits	$ 33,000,000
U.S. Federal corporate tax rate	35.00%	35.00%	35.00%
Penalties and interest	$ 181,000	$ 101,000	$ 119,000
Foreign Earnings Repatriated	20,000,000
Unrecognized deferred tax liability	1,000,000
Uncertain tax position	160,000	2,462,000	$ 1,629,000
Reasonably possible maximum decrease in uncertain tax position	160,000
Decrease in income tax provision	127,000
Additions for tax positions related to the current year	67,000	354,000
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	1,767,000
Taxes Payable	1,100,000
Accrued Income Taxes, Noncurrent	1,017,000	$ 0
Tax Year 2017 [Member]
Tax Reform [Line Items]
Prepaid Taxes	$ 88,000

Income Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Difference between the Federal corporate tax rate and the effective tax rate
Income tax provision computed at US federal statutory rate	$ 11,859	$ 11,893	$ 14,777
Canadian rate differential	(1,398)	(1,050)	(1,287)
Change in uncertain tax positions, net of federal benefit	(3)	542	1,059
State and local income taxes, net of federal benefit	626	230	465
Other, net	(525)	(252)	101
Income tax expense (benefit)	$ 13,904	$ 11,363	$ 15,115
Income tax provision computed at US federal statutory rate, effective tax rate	35.00%	35.00%	35.00%
Canadian rate differential, effective tax rate	(4.10%)	(3.10%)	(3.00%)
Change in uncertain tax positions, net of federal income taxes, effective tax rate	0.00%	1.60%	2.50%
State and local income taxes, net of federal income taxes, effective tax rate	1.90%	0.60%	1.10%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ 1,578
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	4.60%
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	$ 1,767
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Percent	5.20%
Other, net, effective tax rate	(1.60%)	(0.70%)	0.20%
Effective income tax rate	41.00%	33.40%	35.80%

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current taxes:
US Federal	$ 1,122	$ 6,765	$ 12,015
State and local	662	1,136	2,564
Foreign	4,578	3,313	3,821
Total current taxes	6,362	11,214	18,400
Deferred taxes:
US Federal	7,569	314	(3,331)
State and local	22	36	(156)
Foreign	(49)	(201)	202
Total deferred taxes	7,542	149	(3,285)
Income tax expense (benefit)	$ 13,904	$ 11,363	$ 15,115

Income Taxes (Details 3) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Share-based compensation expense	$ 3,851,000	$ 6,325,000
Deferred rent	441,000	762,000
Compensation and benefits payable	719,000	4,907,000
Federal unrecognized tax benefit	46,000	942,000
Other	140,000	74,000
Total deferred tax assets	5,197,000	13,010,000
Deferred tax liabilities:
Property and equipment	(586,000)	(1,013,000)
Intangibles	(1,029,000)	(1,023,000)
Unrealized gains on investments	(175,000)	(71,000)
Total deferred tax liabilities	(1,790,000)	(2,107,000)
Net deferred tax assets	$ 3,407,000	$ 10,903,000

Income Taxes Income Taxes (Details 5) - USD ($)	12 Months Ended
Income Taxes Income Taxes (Details 5) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1, 2016	$ 2,462,000	$ 1,629,000
Additions for tax positions related to the current year	67,000	354,000
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	1,593,000
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(776,000)	(101,000)
Additions for tax positions related to prior years		580,000
Balance at December 31, 2016	$ 160,000	$ 2,462,000

Regulatory Capital Requirements (Details) - Dec. 31, 2017 $ in Millions	USD ($)	CAD
Banking and Thrift [Abstract]
Minimum capital requirement	$ 4.0
Excess from Minimum capital requirement	16.8
Required combined cash and receivables \| CAD		CAD 100,000
Combined cash and receivables	$ 37.2	CAD 46,800,000

Employee Benefits (Details Textual) $ / shares in Units, CAD in Millions		1 Months Ended	12 Months Ended
	Apr. 26, 2017 shares	Mar. 31, 2015 USD ($)	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2017 CAD shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($)	Dec. 31, 2017 CAD shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount of shares purchased in the open market			$ 0		$ 5,634,000	$ 0
Dividends payable			7,357,000		6,679,000
Accrued dividends			1,717,000		1,767,000
Accrued liability			1,800,000		$ 1,700,000
Vesting period					6 years
Litigation Settlement, Expense			$ 4,000,000	CAD 5.0	$ 0	0
Deferred Compensation Share Based Payments \| Share-based Compensation Award, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of deferred share units vesting			20.00%	20.00%
Deferred Compensation Share Based Payments \| Share-based Compensation Award, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of deferred share units vesting			40.00%	40.00%
Deferred Compensation Share Based Payments \| Share-based Compensation Award, Tranche Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of deferred share units vesting			60.00%	60.00%
Deferred Compensation Share Based Payments \| Share Based Compensation Award Tranche Four
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of deferred share units vesting			80.00%	80.00%
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total number of shares that may be issued under the stock based compensation Plan (including predecessor plans to the Plan) \| shares			4,648,100				4,648,100
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized \| shares	250,000
Shares remain available for issuance \| shares			454,000				454,000
Vested, shares \| shares			187,295	187,295
Remaining unrecognized compensation cost			$ 22,100,000
Remaining unrecognized compensation cost recognized over a remaining weighted average period			1 year 11 months	1 year 11 months
Number of vested shares from employees on the date vesting \| shares			87,946	87,946
Nonvested restricted shares (in shares) \| shares			519,375		607,501		519,375
Compensation expense recorded					$ 15,954,000	17,574,000
Restricted Stock \| Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares granted to employees vesting period			4 years	4 years
Restricted Stock \| Director
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares granted to employees vesting period			1 year	1 year
Canadian Plan \| Westwood International Advisors Inc
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares remain available for issuance \| shares			52,000				52,000
Fund purchases of common stock			$ 8,000,000				CAD 10.0
Purchases of common stock with respect to awards granted			$ 3,400,000
Share price \| $ / shares			$ 66.21
Number of shares purchased in the open market \| shares			23,822	23,822
Vested, shares \| shares			22,091	22,091
Fair value of vested shares			$ 1,200,000
Treasury Stock, Common, Shares \| shares			33,327				33,327
Purchase of treasury stock, shares \| shares			1,325,625	1,325,625
Remaining unrecognized compensation cost			$ 676,000
Remaining unrecognized compensation cost recognized over a remaining weighted average period			1 year 9 months	1 year 9 months
Compensation expense recorded			$ 232,000		$ 524,000	145,000
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Adjusted pre-tax income		$ 24,000,000.0
Share Pretax Income Goal Sliding Scale Award			$ 34,000,000
Performance Based Restricted Shares For Future Performance Years
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested restricted shares (in shares) \| shares			16,300				16,300
Deferred Compensation Share Based Payments
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares granted to employees vesting period			6 years	6 years
Accrued liability			$ 632,000
Deferred share units, issued and outstanding \| shares			10,796	10,796
Minimum [Member] \| Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Adjusted pre-tax income			$ 24,000,000
Share Pretax Income Goal Sliding Scale Award			$ 30,300,000
Percentage of Pretax income Goal Earned			25.00%	25.00%
Maximum [Member] \| Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Pretax Income Goal Sliding Scale Award			$ 42,500,000
Percentage of Pretax income Goal Earned			0.00%	0.00%
Mutual Fund [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Mutual fund vesting period			2 years	2 years	1 year
Service period of mutual fund share incentive award			3 years	3 years
Compensation expense recorded			$ 1,200,000		$ 1,300,000	$ 1,200,000
Mutual Fund [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service period of mutual fund share incentive award			2 years	2 years
Benefit Plans [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years	4 years
Percentage of compensation			6.00%	6.00%

Employee Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
Employee Benefits (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 16,430	$ 15,954	$ 17,574
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense		15,954	17,574
Total income tax benefit recognized related to stock-based compensation	6,168	4,749	6,217
Restricted Stock \| Service condition restricted stock expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense	10,334	10,377	9,439
Restricted Stock \| Performance-based restricted stock expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense	5,387	4,927	7,403
Restricted Stock \| Restricted stock expense under the Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense	15,721	15,304	16,842
Restricted Stock \| Canadian Plan restricted stock expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense	$ 709	$ 650	$ 732

Employee Benefits (Details 1) - Restricted Shares Subject Only to a Service Condition	12 Months Ended
	Dec. 31, 2017 $ / shares shares
Restricted shares subject only to a service condition:
Non-vested, January 1, 2015 (in shares) \| shares	607,501
Granted (in shares) \| shares	143,460
Vested (in shares) \| shares	(187,295)
Forfeited (in shares) \| shares	(44,291)
Non-vested, December 31, 2015 (in shares) \| shares	519,375
Non-vested, January 1, 2015 (in dollars per share) \| $ / shares	$ 54.67
Granted (in dollars per share) \| $ / shares	61.20
Vested (in dollars per share) \| $ / shares	57.47
Forfeited (in dollars per share) \| $ / shares	54.99
Non-vested, December 31, 2015 (in dollars per share) \| $ / shares	$ 55.44

Employee Benefits (Details 2) - Service condition restricted stock expense - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Weighted-average grant date fair value for shares granted and the total fair value of shares vested
Weighted-average grant date fair value (in dollars per share)	$ 61.20	$ 47.97	$ 61.42
Fair value of shares vested (in thousands)	$ 10,764	$ 9,497	$ 7,797

Employee Benefits (Details 3) - Restricted Shares Subject to Service and Performance Conditions - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted shares subject only to a service condition:
Non-vested, January 1, 2015 (in shares)	153,620
Granted (in shares)	160,340
Vested (in shares)	(102,367)
Forfeited (in shares)	(45,675)
Non-vested, December 31, 2015 (in shares)	165,918	153,620
Non-vested, January 1, 2015 (in dollars per share)	$ 55.90
Granted (in dollars per share)	54.86	$ 55.90	$ 61.29
Vested (in dollars per share)	56.58
Forfeited (in dollars per share)	55.86
Non-vested, December 31, 2015 (in dollars per share)	$ 55.85	$ 55.90

Employee Benefits (Details 4) - Restricted Shares Subject to Service and Performance Conditions - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Weighted-average grant date fair value for shares granted and the total fair value of shares vested
Weighted-average grant date fair value (in dollars per share)	$ 54.86	$ 55.90	$ 61.29
Fair value of shares vested (in thousands)	$ 5,792	$ 6,209	$ 5,936

Earnings Per Share (Details Textual) - shares	12 Months Ended
Earnings Per Share (Details Textual) - shares	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive restricted shares or options	6,614	984	5,993

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Computation of Basic and Diluted Shares
Net income	$ 2,897	$ 4,132	$ 6,896	$ 6,064	$ 7,577	$ 5,887	$ 5,661	$ 3,522	$ 19,989	$ 22,647	$ 27,105
Weighted average shares outstanding – basic (in shares)									8,147,742	7,961,891	7,756,647
Dilutive potential shares from unvested restricted shares (in shares)									252,280	182,979	350,755
Dilutive potential shares from contingent consideration (in shares)									0	20,605	41,997
Weighted average shares outstanding – diluted (in shares)									8,400,022	8,165,475	8,149,399
Earnings per share:
Basic (in dollars per share)	$ 0.35	$ 0.51	$ 0.84	$ 0.75	$ 0.95	$ 0.74	$ 0.71	$ 0.45	$ 2.45	$ 2.84	$ 3.49
Diluted (in dollars per share)	$ 0.34	$ 0.49	$ 0.83	$ 0.73	$ 0.92	$ 0.72	$ 0.69	$ 0.44	$ 2.38	$ 2.77	$ 3.33

Variable Interest Entities (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Investments in trading securities	$ 51,324	$ 56,485
Fee revenues from Westwood VIEs	51,900	52,200	$ 56,400
Variable Interest Entity [Member]
Variable Interest Entity [Line Items]
Investments in trading securities	10,700	$ 11,000
Common Trust Funds
Variable Interest Entity [Line Items]
Investments in trading securities	2,000
UCITS Fund
Variable Interest Entity [Line Items]
Investments in trading securities	$ 2,000

Variable Interest Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Variable Interest Entities
Assets Under Management	$ 24,229,000
Corporate Investment	51,324	$ 56,485
Westwood Funds
Variable Interest Entities
Assets Under Management	4,242,000
Corporate Investment	6,000
Amount at Risk	6,000
Common Trust Funds
Variable Interest Entities
Assets Under Management	2,564,000
Corporate Investment	2,000
Amount at Risk	2,000
Limited Liability Company [Member]
Variable Interest Entities
Assets Under Management	116,000
Corporate Investment	0
Amount at Risk	0
UCITS Fund
Variable Interest Entities
Assets Under Management	412,000
Corporate Investment	2,000
Amount at Risk	2,000
Private Wealth
Variable Interest Entities
Assets Under Management	2,886,000
Institutional
Variable Interest Entities
Assets Under Management	$ 14,009,000

Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
Related Party Transactions (Details Textual) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
UCITS Fund
Related Party Transaction [Line Items]
Fees earned from related party	$ 4,000,000	$ 3,100,000	$ 1,300,000
Fees unpaid from related party	423,000	270,000
Trust
Related Party Transaction [Line Items]
Due from related party	98,000	97,000
Fees earned from related party	$ 375,000	$ 409,000	$ 454,000

Commitments and Contingencies (Details Textual)				12 Months Ended
Commitments and Contingencies (Details Textual)	Nov. 06, 2012 CAD	Nov. 05, 2012 CAD	Aug. 03, 2012 CAD	Dec. 31, 2017 USD ($)	Dec. 31, 2017 CAD	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2017 CAD
Loss Contingencies [Line Items]
Rental expense for facilities and equipment leases \| $				$ 2,400,000		$ 2,400,000	$ 2,000,000
Litigation Settlement, Amount Awarded to Other Party					CAD 10,000,000
Litigation Settlement, Expense				$ 4,000,000	CAD 5,000,000	0	0
Percentage of defense costs which will be covered by insurance				50.00%	50.00%
Insurance proceeds \| $				$ 276,000		430,000	$ 335,000
Loss contingency, receivable \| $				$ 212,000		$ 186,000
First Lawsuit By A G F
Loss Contingencies [Line Items]
Lawsuit filing date				On August 3, 2012, AGF Management Limited and AGF Investments Inc. (together “AGF”) filed a lawsuit in the Ontario Superior Court of Justice against Westwood, certain Westwood employees and the executive recruiting firm of Warren International, LLC ("Warren").	On August 3, 2012, AGF Management Limited and AGF Investments Inc. (together “AGF”) filed a lawsuit in the Ontario Superior Court of Justice against Westwood, certain Westwood employees and the executive recruiting firm of Warren International, LLC ("Warren").
Litigation claim for damages			CAD 10,000,000
Second Lawsuit by AGF
Loss Contingencies [Line Items]
Lawsuit filing date				On November 6, 2012, AGF filed a second lawsuit against Westwood, Westwood Management and an employee of a Westwood subsidiary	On November 6, 2012, AGF filed a second lawsuit against Westwood, Westwood Management and an employee of a Westwood subsidiary
General Damage
Loss Contingencies [Line Items]
Litigation claim for damages		CAD 1,000,000
General Damage \| Second Lawsuit by AGF
Loss Contingencies [Line Items]
Litigation claim for damages	CAD 5,000,000
Special Damage
Loss Contingencies [Line Items]
Litigation claim for damages		10,000,000
Punitive Damage
Loss Contingencies [Line Items]
Litigation claim for damages		CAD 1,000,000
Punitive Damage \| Second Lawsuit by AGF
Loss Contingencies [Line Items]
Litigation claim for damages	CAD 1,000,000
Insurance Settlement [Member]
Loss Contingencies [Line Items]
Loss contingency, receivable				$ 4,000,000				CAD 5,000,000

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Future contractual rental payments for non-cancelable operating leases
2016	$ 2,309
2017	1,947
2018	1,963
2019	1,920
2020	1,530
Thereafter	4,533
Total payments due	$ 14,202

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Segment Reporting (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net fee revenues from external sources									$ 132,233	$ 122,440	$ 130,768
Net intersegment revenues									0	0	0
Net interest and dividend revenue									636	547	426
Other revenue									916	34	(258)
Total revenues	$ 33,914	$ 33,492	$ 33,756	$ 32,623	$ 31,092	$ 31,777	$ 31,023	$ 29,129	133,785	123,021	130,936
Expenses:
Depreciation and amortization									2,916	2,929	2,596
Other operating expenses									96,976	86,082	86,120
Total expenses									99,892	89,011	88,716
Income (loss) before income taxes	9,788	5,752	10,583	7,770	10,799	9,053	8,512	5,646	33,893	34,010	42,220
Income tax expense (benefit)									13,904	11,363	15,115
Net income	2,897	$ 4,132	$ 6,896	$ 6,064	7,577	$ 5,887	$ 5,661	$ 3,522	19,989	22,647	27,105
Restricted stock expense									16,430	15,954	17,574
Amortization of intangible assets									1,872	1,960	1,546
Deferred taxes on goodwill									626	547	271
Economic Earnings (Loss)									38,917	41,108	46,496
Assets	192,659				179,678				192,659	179,678	181,336
Segment goodwill	27,144				27,144				27,144	27,144	27,144
Expenditures for long-lived assets									884	1,819	816
Operating Segments \| Advisory
Segment Reporting Information [Line Items]
Net fee revenues from external sources									100,612	92,127	101,973
Net intersegment revenues									8,120	7,533	19,001
Net interest and dividend revenue									546	534	425
Other revenue									911	294	(341)
Total revenues									110,189	100,488	121,058
Expenses:
Depreciation and amortization									548	575	773
Other operating expenses									58,950	50,824	63,658
Total expenses									59,498	51,399	64,431
Income (loss) before income taxes									50,691	49,089	56,627
Income tax expense (benefit)									17,120	16,331	19,330
Net income									33,571	32,758	37,297
Restricted stock expense									9,140	9,632	11,877
Amortization of intangible assets									138	160	161
Deferred taxes on goodwill									38	38	38
Economic Earnings (Loss)									42,887	42,588	49,373
Assets	207,792				174,951				207,792	174,951	183,004
Segment goodwill	5,219				5,219				5,219	5,219	5,219
Expenditures for long-lived assets									151	705	369
Operating Segments \| Trust
Segment Reporting Information [Line Items]
Net fee revenues from external sources									31,621	30,313	28,795
Net intersegment revenues									218	130	0
Net interest and dividend revenue									90	13	1
Other revenue									5	(260)	83
Total revenues									31,934	30,196	28,879
Expenses:
Depreciation and amortization									1,900	1,975	1,724
Other operating expenses									28,580	27,348	25,882
Total expenses									30,480	29,323	27,606
Income (loss) before income taxes									1,454	873	1,273
Income tax expense (benefit)									(47)	426	517
Net income									1,501	447	756
Restricted stock expense									2,641	3,026	2,613
Amortization of intangible assets									1,734	1,800	1,385
Deferred taxes on goodwill									588	509	233
Economic Earnings (Loss)									6,464	5,782	4,987
Assets	69,174				67,330				69,174	67,330	60,459
Segment goodwill	21,925				21,925				21,925	21,925	21,925
Expenditures for long-lived assets									530	530	180
Westwood Holdings
Segment Reporting Information [Line Items]
Net fee revenues from external sources									0	0	0
Net intersegment revenues									0	0	0
Net interest and dividend revenue									0	0	0
Other revenue									0	0	0
Total revenues									0	0	0
Expenses:
Depreciation and amortization									468	379	99
Other operating expenses									17,784	15,573	15,581
Total expenses									18,252	15,952	15,680
Income (loss) before income taxes									(18,252)	(15,952)	(15,680)
Income tax expense (benefit)									(3,169)	(5,394)	(4,732)
Net income									(15,083)	(10,558)	(10,948)
Restricted stock expense									4,649	3,296	3,084
Amortization of intangible assets									0	0	0
Deferred taxes on goodwill									0	0	0
Economic Earnings (Loss)									(10,434)	(7,262)	(7,864)
Assets	18,437				13,985				18,437	13,985	8,816
Segment goodwill	0				0				0	0	0
Expenditures for long-lived assets									203	584	267
Eliminations
Segment Reporting Information [Line Items]
Net fee revenues from external sources									0	0	0
Net intersegment revenues									(8,338)	(7,663)	(19,001)
Net interest and dividend revenue									0	0	0
Other revenue									0	0	0
Total revenues									(8,338)	(7,663)	(19,001)
Expenses:
Depreciation and amortization									0	0	0
Other operating expenses									(8,338)	(7,663)	(19,001)
Total expenses									(8,338)	(7,663)	(19,001)
Income (loss) before income taxes									0	0	0
Income tax expense (benefit)									0	0	0
Net income									0	0	0
Restricted stock expense									0	0	0
Amortization of intangible assets									0	0	0
Deferred taxes on goodwill									0	0	0
Economic Earnings (Loss)									0	0	0
Assets	(102,744)				(76,588)				(102,744)	(76,588)	(70,943)
Segment goodwill	$ 0				$ 0				0	0	0
Expenditures for long-lived assets									$ 0	$ 0	$ 0

Segment Reporting - Reconciliation of Net Income to Economic Earnings (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting [Abstract]
Net income	$ 2,897	$ 4,132	$ 6,896	$ 6,064	$ 7,577	$ 5,887	$ 5,661	$ 3,522	$ 19,989	$ 22,647	$ 27,105
Restricted stock expense									16,430	15,954	17,574
Amortization of intangible assets									1,872	1,960	1,546
Add: Tax benefit from goodwill amortization									626	547	271
Economic Earnings (Loss)									$ 38,917	$ 41,108	$ 46,496

Segment Reporting - Revenues by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 33,914	$ 33,492	$ 33,756	$ 32,623	$ 31,092	$ 31,777	$ 31,023	$ 29,129	$ 133,785	$ 123,021	$ 130,936
U.S.
Segment Reporting Information [Line Items]
Total revenues									111,097	103,261	109,816
Canada
Segment Reporting Information [Line Items]
Total revenues									9,169	7,714	9,238
Europe
Segment Reporting Information [Line Items]
Total revenues									3,873	5,416	6,019
Asia
Segment Reporting Information [Line Items]
Total revenues									6,312	4,872	4,538
Australia
Segment Reporting Information [Line Items]
Total revenues									$ 3,334	$ 1,758	$ 1,325

Segment Reporting - Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net property and equipment	$ 4,190	$ 4,280
U.S.
Segment Reporting Information [Line Items]
Net property and equipment	4,107	4,002
Canada
Segment Reporting Information [Line Items]
Net property and equipment	$ 83	$ 278

Concentration (Details Textual) - Sales Revenue, Net - Customer Concentration Risk - Customers	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Concentration Risk [Line Items]
Number of largest clients	10	10	10
Revenue accounted by major clients	20.00%	20.00%	20.00%

Concentration (Details) - USD ($) $ in Thousands	12 Months Ended
Concentration (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Concentration Risk [Line Items]
Advisory fees from major client	$ 99,201	$ 91,492	$ 99,275
Advisory fees from major client	1,411	635	2,698
Sales Revenue, Net \| Customer Concentration Risk
Concentration Risk [Line Items]
Advisory fees from major client	6,312	4,872	2,109
Advisory fees from major client	$ 0	$ 0	$ 2,206
Revenue accounted by major clients	20.00%	20.00%	20.00%
Westwood Management \| Sales Revenue, Net \| Customer Concentration Risk
Concentration Risk [Line Items]
Revenue accounted by major clients	4.80%	4.00%	3.30%

Subsequent Event (Details) - USD ($)	Feb. 23, 2018	Feb. 08, 2018	Jan. 12, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Assets				$ 192,659,000	$ 179,678,000	$ 181,336,000
Goodwill				27,144,000	27,144,000	$ 27,144,000
Intangible assets, net				$ 19,804,000	$ 21,394,000
Subsequent Event
Subsequent Event [Line Items]
Proceeds from Divestiture of Businesses			$ 10,600,000
Gain (Loss) on Disposition of Assets			520,000
Dividends declared per share		$ 0.68
Restricted Stock \| Subsequent Event
Subsequent Event [Line Items]
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 9,700,000
Restricted stock issued	169,000
Assets, Total [Member] \| Subsequent Event
Subsequent Event [Line Items]
Assets			9,700,000
Goodwill [Member] \| Subsequent Event
Subsequent Event [Line Items]
Goodwill			7,300,000
Finite-Lived Intangible Assets [Member] \| Subsequent Event
Subsequent Event [Line Items]
Intangible assets, net			$ 2,200,000

Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 33,914	$ 33,492	$ 33,756	$ 32,623	$ 31,092	$ 31,777	$ 31,023	$ 29,129	$ 133,785	$ 123,021	$ 130,936
Income (loss) before income taxes	9,788	5,752	10,583	7,770	10,799	9,053	8,512	5,646	33,893	34,010	42,220
Net income	$ 2,897	$ 4,132	$ 6,896	$ 6,064	$ 7,577	$ 5,887	$ 5,661	$ 3,522	$ 19,989	$ 22,647	$ 27,105
Basic earnings per common share (in dollars per share)	$ 0.35	$ 0.51	$ 0.84	$ 0.75	$ 0.95	$ 0.74	$ 0.71	$ 0.45	$ 2.45	$ 2.84	$ 3.49
Diluted earnings per common share (in dollars per share)	$ 0.34	$ 0.49	$ 0.83	$ 0.73	$ 0.92	$ 0.72	$ 0.69	$ 0.44	$ 2.38	$ 2.77	$ 3.33

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Dividends declared, per share	$ 2.54	$ 2.33	$ 2.07

Income Taxes (Details 4) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Net deferred tax assets and liabilities are reflected on our balance sheet
Net deferred tax assets	$ 3,407	$ 10,903

Employee Benefits (Details 5) - USD ($) $ in Thousands	12 Months Ended
Employee Benefits (Details 5) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Profit sharing and 401(k) contributions for the periods
Profit-sharing contributions	$ 1,613	$ 1,001	$ 965
Retirement plan matching contributions	$ 1,602	$ 1,518	$ 1,319

Segment Reporting (Details Textual)	12 Months Ended
Segment Reporting (Details Textual)	Dec. 31, 2017 Segment
Segment Reporting [Abstract]
Number of operating segments	2