Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2018	Oct. 19, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	WESTWOOD HOLDINGS GROUP INC
Entity Central Index Key	0001165002
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		9,018,436

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 48,086	$ 54,249
Accounts receivable	19,832	21,660
Investments, at fair value	71,003	51,324
Income Taxes Receivable, Current	589	4,269
Other current assets	2,308	6,612
Total current assets	141,818	138,114
Long-term Investments	5,425	0
Goodwill	19,804	27,144
Deferred income taxes	5,081	3,407
Intangible assets, net	16,379	19,804
Property and equipment, net of accumulated depreciation of $6,287 and $5,673	4,120	4,190
Total assets	192,627	192,659
Current liabilities:
Accounts payable and accrued liabilities	2,521	3,501
Dividends payable	7,295	7,357
Compensation and benefits payable	12,726	19,075
Income taxes payable	2,198	1,598
Total current liabilities	24,740	31,531
Accrued dividends	1,349	1,717
Accrued Income Taxes, Noncurrent	0	1,017
Deferred rent	1,866	1,998
Total liabilities	27,955	36,263
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.01 par value, authorized 25,000,000 shares, issued 10,196,635 and outstanding 9,018,436 shares at September 30, 2018; issued 9,980,827 and outstanding 8,899,587 shares at December 31, 2017	102	100
Additional paid-in capital	191,062	179,241
Treasury stock, at cost - 1,178,199 shares at September 30, 2018; 1,081,240 shares at December 31, 2017	(55,215)	(49,788)
Foreign currency translation adjustment	(2,826)	(1,764)
Retained earnings	31,549	28,607
Total stockholders' equity	164,672	156,396
Total liabilities and stockholders' equity	$ 192,627	$ 192,659

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation	$ 6,287	$ 5,673
Common stock, par value (dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	10,196,635	9,980,827
Common stock, shares outstanding	9,018,436	8,899,587
Treasury stock, shares	1,178,199	1,081,240

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Advisory fees:
Asset-based	$ 22,023,000	$ 25,334,000	$ 69,979,000	$ 73,619,000
Performance-based	0	0	2,984,000	1,417,000
Trust fees	7,191,000	7,858,000	22,265,000	23,570,000
Other, net	640,000	300,000	953,000	1,265,000
Total revenues	29,854,000	33,492,000	96,181,000	99,871,000
EXPENSES:
Employee compensation and benefits	14,444,000	15,601,000	46,857,000	48,875,000
Sales and marketing	549,000	457,000	1,401,000	1,447,000
Westwood mutual funds	979,000	977,000	2,966,000	2,749,000
Information technology	2,332,000	1,855,000	6,753,000	5,494,000
Professional services	1,372,000	1,681,000	3,677,000	4,495,000
Legal settlement expense	0	4,009,000	0	4,009,000
General and administrative	3,027,000	3,160,000	6,477,000	8,697,000
Total expenses	22,703,000	27,740,000	68,131,000	75,766,000
Operating Income (Loss)	7,151,000	5,752,000	28,050,000	24,105,000
Gain on sale of operations	0	0	524,000	0
Income before income taxes	7,151,000	5,752,000	28,574,000	24,105,000
Provision for income taxes	1,783,000	1,620,000	7,236,000	7,013,000
Net income	5,368,000	4,132,000	21,338,000	17,092,000
Other comprehensive income (loss):
Foreign currency translation adjustments	616,000	1,297,000	(1,062,000)	2,438,000
Total comprehensive income	$ 5,984,000	$ 5,429,000	$ 20,276,000	$ 19,530,000
Earnings per share:
Basic (dollars per share)	$ 0.64	$ 0.51	$ 2.55	$ 2.10
Diluted (dollars per share)	$ 0.62	$ 0.49	$ 2.49	$ 2.05
Weighted average shares outstanding:
Basic (shares)	8,402,697	8,171,809	8,359,088	8,136,350
Diluted (shares)	8,598,230	8,420,749	8,561,918	8,350,926
Cash dividends declared per share (dollars per share)	$ 0.68	$ 0.62	$ 2.04	$ 1.86

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 9 months ended Sep. 30, 2018 - USD ($) $ in Thousands	Total	Common Stock, Par	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings
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
Net income	$ 21,338
Other comprehensive loss	(1,062)				(1,062)
Issuance of restricted stock, net of forfeitures	0	$ 2	(2)
Issuance of restricted stock, net of forfeitures, shares		215,808
Dividends declared	(18,396)					(18,396)
Stock based compensation expense	11,658		11,658
Reclassification of compensation liability to be paid in shares	165		165
Purchases of treasury stock	(726)			(726)
Purchases of treasury stock, shares		(13,031)
Restricted stock returned for payment of taxes	(4,701)			(4,701)
Restricted stock returned for payment of taxes, shares		(83,928)
BALANCE at Sep. 30, 2018	$ 164,672	$ 102	$ 191,062	$ (55,215)	$ (2,826)	$ 31,549
BALANCE, shares at Sep. 30, 2018	9,018,436	9,018,436

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 21,338	$ 17,092
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	653	722
Amortization of intangible assets	1,255	1,449
Unrealized (gains) losses on trading investments	145	(539)
Stock based compensation expense	11,658	12,298
Deferred income taxes	(1,693)	1,481
Gain on sale of operations	(524)	0
Change in operating assets and liabilities:
Net sales (purchases) of investments - trading securities	(19,824)	8,931
Accounts receivable	1,537	1,686
Other current assets	4,185	(3,881)
Accounts payable and accrued liabilities	(650)	178
Increase (decrease) in accrued litigation liability	0	8,018
Compensation and benefits payable	(6,157)	(2,696)
Income taxes payable	3,265	(5,181)
Other liabilities	(118)	(111)
Net cash provided by operating activities	15,070	39,447
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(676)	(537)
Proceeds from sale of operations	10,013	0
Payments to Acquire Investments	(5,425)
Payments to Acquire Businesses, Net of Cash Acquired		0
Net cash provided by (used in) investing activities	3,912	(537)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment for Repurchases of Stock for Benefit Plan	(726)	(1,326)
Restricted stock returned for payment of taxes	(4,701)	(5,231)
Cash dividends paid	(18,825)	(16,787)
Net cash used in financing activities	(24,252)	(23,344)
Effect of currency rate changes on cash	(893)	2,191
Net Change in Cash and Cash Equivalents	(6,163)	17,757
Cash and cash equivalents, beginning of period	54,249	33,679
Cash and cash equivalents, end of period	48,086
Supplemental cash flow information:
Cash paid during the period for income taxes	5,634	10,245
DividendsAccrued	$ 8,644	$ 8,161

DESCRIPTION OF THE BUSINESS

3 Months Ended

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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 provides investment management services to institutional investors, private wealth clients and financial intermediaries through its subsidiaries, Westwood Management Corp. and Westwood Advisors, L.L.C. (together “Westwood Management”), Westwood Trust, and Westwood International Advisors Inc. (“Westwood International”). 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 revenues and results of operations.

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. The sale closed on January 12, 2018. We received proceeds of $10.0 million, net of working capital requirements, and recorded a $524,000 gain on the sale, which is included as “Gain on sale of operations” on our Consolidated Statements of Comprehensive Income. The sale reduced goodwill and intangible assets but did not have a material impact on our Condensed Consolidated Balance Sheet. The following table presents cash proceeds received and net assets sold (in thousands):



Cash Proceeds	$	10,013
Net assets sold:
Accounts receivable	99
Other current assets	112
Goodwill	7,340
Intangible assets, net	2,170
Property and equipment, net	18
Accounts payable and accrued liabilities	(241		)
Other liabilities	(9		)
Gain on sale of operations	$	524

The component is reported within both our Advisory and Trust segments. The sale did not represent a major strategic shift in our business and did not qualify for discontinued operations reporting.

Date of incorporation

Dec. 12, 2001

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2018
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying Condensed Consolidated Financial Statements are unaudited and are presented in accordance with the requirements for quarterly reports on Form 10-Q and consequently do not include all of the information and footnote disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The Company’s Condensed Consolidated Financial Statements reflect all adjustments (consisting only of normal recurring adjustments) necessary in the opinion of management to present fairly our interim financial position and results of operations and cash flows for the periods presented. The accompanying Condensed Consolidated Financial Statements are presented in accordance with GAAP and the rules and regulations of the Securities and Exchange Commission (“SEC”). The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements, and notes thereto, included in our Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC. Operating results for the periods in these Condensed Consolidated Financial Statements are not necessarily indicative of results for any future period. The accompanying Condensed Consolidated Financial Statements include the accounts of Westwood and its subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. Recent Accounting Pronouncements Recently Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 ASU is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Retrospective application is required, with the entity either applying the change to each prior reporting period presented or applying the cumulative effect of each prior reporting period presented at the date of initial application. We adopted ASU 2014-09 effective January 1, 2018. See further discussion in Note 9 “Revenue.” In March 2018, the FASB issued ASU 2018-05, Income Taxes: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 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 Cuts and Jobs Act (“Tax Reform Act”). See further discussion in Note 11 “Income Taxes.” Not Yet Adopted 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. Leases will be classified as either financing or operating, with classification impacting the pattern of expense recognition in the income statement. The amendment is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We will adopt the standard as of January 1, 2019 under the modified retrospective approach, which allows for recording the cumulative effect of the adoption of the standard as an adjustment to beginning retained earnings. We will elect the package of practical expedients permitted under the transition guidance, which among other things, allows us to carry forward the historical lease classification and elect hindsight to determine certain lease terms for existing leases. We have evaluated our population of contracts subject to balance sheet recognition and estimate adoption will result in recognition of additional lease assets and net lease liabilities of approximately $8 million as of January 1, 2019 primarily related to the future minimum payments required under operating leases as disclosed in Note 13 “Commitments and Contingencies” to our Consolidated Financial Statements included in our Annual Report Form 10-K for the fiscal year ended December 31, 2017. The insignificant difference in the additional lease assets and net lease liabilities will be recorded as an adjustment to beginning retained earnings. We do not believe the standard will materially impact our Consolidated Statements of Comprehensive Income or Consolidated Statements of Cash Flows. Beginning with our Quarterly Report on Form 10-Q for the quarter ended March 31, 2019, we will add disclosures surrounding our leases, including lease cost disaggregation, weighted average remaining lease terms and weighted average discount rate used to determine our lease assets and liabilities. We have also analyzed our current business process and internal controls and anticipate implementing new procedures to successfully adopt the standard, particularly for identification of leases and evaluation of the discount rate. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. The purpose of this amendment is to simplify the accounting for share-based payments granted to nonemployees for goods and services by aligning it with the accounting used for arrangements with employees. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt the standard within the required time frame. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurement. The purpose of this amendment is to modify, remove and add certain disclosure requirements for fair value measurements. Under ASU 2018-13, entities are required to disclose the amount of total gains or losses recognized in other comprehensive income attributable to assets and liabilities categorized within Level 3 of the fair value hierarchy. The ASU also adds an incremental requirement about significant unobservable inputs for Level 3 fair value measurements. The requirement to disclose reasons for transfers between Level 1 and Level 2 was removed. Various requirements for Level 3 disclosure were also modified. The amendments in this ASU are effective for all entities for fiscal years and interim periods beginning after December 15, 2019. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt this amendment within the required time frame. In August 2018, the FASB issued ASU 2018-15, Intangibles- Goodwill and Other - Internal-Use Software (Topic 350): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The purpose of this amendment is to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The amendments in this update are effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt the standard within the required time frame.

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding for the applicable period. Diluted earnings per share is computed based on the weighted average number of shares outstanding plus the effect of any dilutive shares of restricted stock granted to employees and non-employee directors. There were no anti-dilutive restricted shares outstanding for the three months ended September 30, 2018 and 2017. There were approximately 3,251 and 8,800 anti-dilutive restricted shares outstanding for the nine months ended September 30, 2018 and 2017, respectively.

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Net income	$	5,368	$	4,132	$	21,338	$	17,092

Weighted average shares outstanding - basic	8,402,697		8,171,809		8,359,088		8,136,350
Dilutive potential shares from unvested restricted shares	195,533		248,940		202,830		214,576
Weighted average shares outstanding - diluted	8,598,230		8,420,749		8,561,918		8,350,926

Earnings per share:
Basic	$	0.64	$	0.51	$	2.55	$	2.10
Diluted	$	0.62	$	0.49	$	2.49	$	2.05

INVESTMENTS

9 Months Ended

Sep. 30, 2018

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

In May 2018, we entered into a $5.0 million strategic investment in an equity position of a private company. As part of the agreement, we committed to an additional $5.0 million purchase of equity securities to be invested no later than August 31, 2018. Our intent was to offer this investment opportunity to our current and prospective clients, members of our Board of Directors and employees, but to the extent these parties did not invest the full $5.0 million, we were obligated to make an additional investment to cover any shortfall. Based on investments made by these parties during the third quarter of 2018, we were required to purchase an additional $425,000 of equity securities in the private company in August 2018. Our $5.4 million investment is included in “Investments” on our Condensed Consolidated Balance Sheets.

As this investment represents a private company without a readily determinable fair value, the Company has elected to apply the measurement alternative of cost minus impairment, if any, plus or minus changes resulting from observable price changes. The Company will reassess whether our investment qualifies for the measurement alternative at each reporting period. In evaluating the investment for impairment or observable price changes, we will use inputs including recent financing events, as well as other available information regarding the private company's historical and forecasted performance. As of September 30, 2018, there were no observable price changes or indicators of impairment for this investment.

All other investments are carried at fair value on a recurring basis and are accounted for as trading securities. Trading securities are presented in the table below (in thousands):



	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Market Value
September 30, 2018:
U.S. Government and Government agency obligations	$	51,194	$	117	$	—		$	51,311
Money market funds	9,978		—		—			9,978
Equity funds	9,333		545		(164		)	9,714
Total trading securities	$	70,505	$	662	$	(164	)	$	71,003
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
Total trading securities	$	50,681	$	678	$	(35	)	$	51,324

As of September 30, 2018 and December 31, 2017, approximately $8.7 million and $10.7 million, respectively, in corporate funds were invested in Westwood Funds®, Westwood Common Trust Funds and Westwood Investment Funds Plc (the “UCITS Fund”). See Note 8 “Variable Interest Entities.”

FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

We determine estimated fair values for our financial instruments using available information. The fair value amounts discussed in our Condensed Consolidated Financial Statements are not necessarily indicative of either 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 their fair value based on prices quoted in active markets and, with respect to common trust funds, the net asset value of the shares held as reported by each fund. Market values of our money market holdings generally do not fluctuate. Our strategic investment in a private company discussed in Note 4 “Investments” is excluded from the recurring fair value table shown below, as we have elected to apply the measurement alternative for this investment.

ASC 820, Fair Value Measurements, defines fair value, establishes a framework for measuring fair value and requires 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


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


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

The following table summarizes the values of our investments measured at fair value on a recurring basis within the fair value hierarchy as of the dates indicated (in thousands):



	Level 1		Level 2		Level 3		Investments Measured at NAV ⁽¹⁾		Total
As of September 30, 2018:
Investments in trading securities	$	68,567	$	—	$	—	$	2,436	$	71,003
Total assets measured at fair value	$	68,567	$	—	$	—	$	2,436	$	71,003

As of December 31, 2017:
Investments in trading securities	$	48,998	$	—	$	—	$	2,326	$	51,324
Total assets measured at fair value	$	48,998	$	—	$	—	$	2,326	$	51,324

(1) Comprised of certain investments measured at fair value using net asset value (“NAV”) as a practical expedient. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on our Condensed 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

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

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. Goodwill is not amortized but is tested for impairment at least annually. We completed our annual goodwill impairment assessment during the third quarter of 2018 and determined that no impairment loss was required. No impairments on goodwill were recorded during the three or nine months ended September 30, 2018 or 2017.

Changes in the balance of Goodwill for the periods presented are as follows (in thousands):



	Goodwill
Balance as of December 31, 2017	$	27,144
Omaha divestiture	(7,340		)
Balance as of September 30, 2018	$	19,804

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. We periodically review intangible assets for events or circumstances that would indicate impairment. No impairments on intangible assets were recorded during the three or nine months ended September 30, 2018 or 2017.

Changes in the balance of Intangible assets, net for the periods presented are as follows (in thousands):



	Intangible assets, net
Balance as of December 31, 2017	$	19,804
Amortization	(1,255		)
Omaha divestiture ⁽¹⁾	(2,170		)
Balance as of September 30, 2018	$	16,379

_____________________

(1) Related to client relationships

- 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

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BALANCE SHEET COMPONENTS

STOCKHOLDERS' EQUITY

Accumulated Other Comprehensive Loss

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



	As of September 30, 2018			As of December 31, 2017
Foreign currency translation adjustment	$	(2,826	)	$	(1,764	)
Accumulated other comprehensive loss	$	(2,826	)	$	(1,764	)

VARIABLE INTEREST ENTITIES

9 Months Ended

Sep. 30, 2018

Variable Interest Entities [Abstract]

VARIABLE INTEREST ENTITIES

We have evaluated (i) our advisory relationships with the UCITS Fund and the Westwood Funds®, (ii) our relationship as sponsor of the Common Trust Funds (“CTFs”) and managing member of the private equity funds Westwood Hospitality Fund I, LLC and Westwood Technology Fund LP (collectively the “Private Equity Funds”) and (iii) the private company discussed in Note 4 “Investments” (“Private Equity”) to determine whether each of these entities is a variable interest entity (“VIE”) or voting ownership entity (“VOE”). Based on our analysis, we determined that the CTFs and Private Equity Funds 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 entities' respective boards of directors and can influence the respective entities' management and affairs. Prior to the sale of our Omaha-based operations, we also considered our advisory relationship with ten limited liability companies (“LLCs”) as VIEs, but as of September 30, 2018, we no longer serve as the managing member of the funds and do not control the activities that most significantly impact the entities' economic performance. Therefore these LLCs are no longer considered VIEs. Although we have related parties on the UCITS Fund board of directors, the shareholders have rights to remove the current directors by a simple majority vote and so we determined that the UCITS Fund is not a VIE. As the Company and its representatives do not have representation on the Westwood Funds® or the Private Equity independent boards of directors, which direct the activities that most significantly impact the entities' economic performance, we determined that the Westwood Funds® and the Private Equity were not VIEs. Therefore, the UCITS Fund, Westwood Funds® and Private Equity should be analyzed under the VOE consolidation method. Based on our analysis of our investments in these entities for the periods ending September 30, 2018 and December 31, 2017, we have not consolidated the CTFs, Private Equity Funds or LLCs under the VIE method or the UCITS Fund, Westwood Funds® or Private Equity under the VOE method, and therefore the financial results of these entities are not included in the Company’s consolidated financial results.

As of September 30, 2018 and December 31, 2017, our seed investments aggregated approximately $8.7 million and $10.7 million, respectively, in the CTFs, the Westwood Funds and the UCITS Fund. The seed investments were provided for the sole purpose of showing the 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 Condensed Consolidated Balance Sheets.

We have not otherwise provided any financial support 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 Westwood Funds®, the UCITS Fund and the CTFs are accounted for as investments in accordance with our other investments described in Note 4 “Investments.” We recognized fee revenue from the Westwood VIEs and Westwood VOEs of approximately $11.7 million and $13.2 million for the three months ended September 30, 2018 and 2017, respectively. We recognized fee revenue from the Westwood VIEs and Westwood VOEs of approximately $36.3 million and $39.1 million for the nine months ended September 30, 2018 and 2017, respectively.

The following table displays the assets under management, the amounts of our seed investments included in “Investments” on our consolidated balance sheets, and the risk of loss in each vehicle (in millions):



	As of September 30, 2018
	Assets Under Management		Corporate Investment		Amount at Risk
VIEs/VOEs:
Westwood Funds®	$	4,031	$	6	$	6
Common Trust Funds	2,079		3		3
UCITS Fund	388		—		—
Private Equity Funds	8		—		—
Private Equity	—		5		5
All other assets:
Private Wealth	2,703
Institutional	11,591
Total Assets Under Management	$	20,800

REVENUE (Notes)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer, Excluding Assessed Tax

REVENUE

Adoption of ASC 2014-09 Revenue from Contracts with Customers (Topic 606)

On January 1, 2018, we adopted ASU 2016-10 using the modified retrospective method applied to those contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606 while prior period amounts continue to be reported in accordance with our historic accounting under Topic 605.

We analyzed the revenue from prior periods and determined no material adjustments to opening retained earnings were necessary as the updated guidance is consistent with our historical revenue recognition methodology.

Revenue Recognition

Revenues are recognized when the performance obligation (the investment management and advisory or trust services provided to the client) defined by the investment advisory or sub-advisory agreement is satisfied. For each performance obligation, we determine at contract inception whether the revenue satisfies over time or at a point in time. We derive our revenues from investment advisory fees, trust fees and other sources of revenues. Advisory and Trust fees are calculated based on a percentage of assets under management and the performance obligation is realized over the current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment.

Advisory Fee Revenues

Our advisory fees are generated by Westwood Management and Westwood International, which manage client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of assets under management and are paid in accordance with the terms of the agreements. Advisory fees are paid quarterly in advance based on assets under management on the last day of the preceding quarter, quarterly in arrears based on assets under management on the last day of the quarter just ended or are based on a daily or monthly analysis of assets under management for the stated period. We recognize advisory fee revenues as services are rendered. Since our advance paying clients' billing periods coincide with the calendar quarter to which such payments relate, revenue is recognized within the quarter and our condensed consolidated financial statements contain no deferred advisory fee revenues. Advisory clients typically consist of institutional and mutual fund accounts.

Institutional investors include separate accounts of (i) corporate pension and profit sharing plans, public employee retirement funds, Taft Hartley plans, endowments, foundations and individuals; (ii) subadvisory relationships where Westwood provides investment management services for funds offered by other financial institutions; (iii) pooled investment vehicles, including the UCITS Fund and collective investment trusts; and (iv) managed account relationships with brokerage firms and other registered investment advisors that offer Westwood products to their customers.

Mutual funds include the Westwood Funds®, a family of mutual funds for which Westwood Management serves as advisor. These funds are available to individual investors, as well as offered as part of our investment strategies for institutional investors and private wealth accounts.

Arrangements with Performance Based Obligations

A limited number of our advisory clients have a contractual performance-based fee component in their contracts, which generates additional revenues if we outperform a specified index over a specific period of time. The revenue is based on future market performance and is susceptible to factors outside our control. We cannot conclude that a significant reversal in the cumulative amount of revenue recognized will not occur during the measurement period, and therefore the revenue is recorded at the end of the measurement period when the performance obligation has been satisfied.

Trust Fee Revenues

Our trust fees are generated by Westwood Trust pursuant to trust or custodial agreements. Trust fees are separately negotiated with each client and are generally based on a percentage of assets under management. Westwood Trust also provides trust services to a small number of clients on a fixed fee basis. The fees for most of our trust clients are calculated quarterly in arrears, based on a daily average of assets under management for the quarter. Since billing periods for most of Westwood Trust’s clients coincide with the calendar quarter, revenue is fully recognized within the quarter and our Condensed Consolidated Financial Statements do not contain a significant amount of deferred trust fee revenues.

Revenue Disaggregated

Sales taxes are excluded from revenues. The following table presents our revenue disaggregated by account type (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Advisory Fees:
Institutional	$	14,426	$	17,610	$	46,815	$	51,263
Mutual Funds	7,527		7,724		23,030		22,356
Private Wealth	70		—		134		—
Performance-based	—		—		2,984		1,417
Trust Fees	7,191		7,858		22,265		23,570
Other	640		300		953		1,265
Total revenues	$	29,854	$	33,492	$	96,181	$	99,871

We have clients in various locations around the world. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands):



Three Months Ended September 30, 2018	Advisory		Trust		Performance-based		Other		Total
Asia	$	853	$	—	$	—	$	—	$	853
Australia	927		—		—		—		927
Canada	1,707		—		—		38		1,745
Europe	1,249		—		—		—		1,249
United States	17,287		7,191		—		602		25,080
Total	$	22,023	$	7,191	$	—	$	640	$	29,854

Nine Months Ended September 30, 2018
Asia	$	3,520	$	—	$	—	$	—	$	3,520
Australia	2,923		—		—		—		2,923
Canada	5,177		—		—		124		5,301
Europe	3,839		—		—		—		3,839
United States	54,520		22,265		2,984		829		80,598
Total	$	69,979	$	22,265	$	2,984	$	953	$	96,181



Three Months Ended September 30, 2017	Advisory		Trust		Performance-based		Other			Total
Asia	$	1,649	$	—	$	—	$	—		$	1,649
Australia	944		—		—		—			944
Canada	2,219		—		—		516			2,735
Europe	946		—		—		—			946
United States	19,576		7,858		—		(216		)	27,218
Total	$	25,334	$	7,858	$	—	$	300		$	33,492

Nine Months Ended September 30, 2017
Asia	$	4,696	$	—	$	—	$	—		$	4,696
Australia	2,371		—		—		—			2,371
Canada	6,351		—		—		738			7,089
Europe	3,065		—		—		—			3,065
United States	57,136		23,570		1,417		527			82,650
Total	$	73,619	$	23,570	$	1,417	$	1,265		$	99,871

LONG-TERM INCENTIVE COMPENSATION

9 Months Ended

Sep. 30, 2018

Employee Benefits and Share-based Compensation, Noncash [Abstract]

LONG-TERM INCENTIVE COMPENSATION

Restricted Stock Awards

We have issued restricted shares to our employees and non-employee directors. The Fifth Amended and Restated Westwood Holdings Group, Inc. Stock Incentive Plan (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. In April 2018, stockholders approved an additional 200,000 shares to be authorized under the Plan, increasing the total number of shares issuable under the Plan (including predecessor plans to the Plan) to 4,848,100 shares. At September 30, 2018, approximately 409,000 shares remain available for issuance under the Plan.

The following table presents the total stock-based compensation expense recorded for stock-based compensation arrangements for the periods indicated (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Service condition stock-based compensation expense	$	2,434	$	2,591	$	7,759	$	7,828
Performance condition stock-based compensation expense	1,107		1,454		3,471		3,949
Stock-based compensation expense under the Plan	3,541		4,045		11,230		11,777
Canadian Plan stock-based compensation expense	154		188		428		521
Total stock-based compensation expense	$	3,695	$	4,233	$	11,658	$	12,298

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.

As of September 30, 2018, there was approximately $23.8 million of unrecognized compensation cost for restricted stock grants under the Plan, which we expect to recognize over a weighted-average period of 2.2 years. Our two types of restricted stock grants under the Plan are discussed below.

Restricted Stock Subject Only to a Service Condition

We calculate compensation cost for restricted stock grants by 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, with adjustments for forfeitures recorded as they occur.

The following table details the status and changes in our restricted stock grants subject only to a service condition for the nine months ended September 30, 2018:



	Shares		Weighted Average Grant Date Fair Value
Non-vested, January 1, 2018	519,375		$	55.44
Granted	172,366		55.92
Vested	(203,504	)	53.49
Forfeited	(29,229	)	56.55
Non-vested, September 30, 2018	459,008		$	56.42

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 specific goals for that year’s vesting of the restricted shares. The date that the Compensation Committee establishes annual goals 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 vesting period ends when the Compensation Committee formally approves the performance-based restricted stock vesting based on the specific performance goals from the Company’s audited consolidated financial statements. If a portion of the performance-based restricted shares does not vest, no compensation expense is recognized for that portion and any previously recognized compensation expense related to shares that do not vest is reversed.

In March 2018, the Compensation Committee established the fiscal 2018 goal for our Chief Executive Officer and Chief Investment Officer as Income before income taxes of $20.0 million for 50% of their respective awards and an Income before income taxes target of $36.0 million (ranging from 25% of target for threshold performance of $32.0 million to 185% of target for maximum performance of $44.5 million) for the remaining 50% of their respective awards. For certain other key employees, the Compensation Committee established fiscal 2018 goals based on various departmental and company-wide performance goals, including Income before income taxes of at least $20.0 million. During the first nine months of 2018, we recorded expense related to the applicable percentage of the performance-based restricted shares expected to meet or exceed the performance goals needed to earn the shares.

The following table details the status and changes in our restricted stock grants subject to service and performance conditions for the nine months ended September 30, 2018:



	Shares		Weighted Average Grant Date Fair Value
Non-vested, January 1, 2018	165,918		$	55.85
Granted	84,829		55.46
Vested	(98,281	)	55.81
Forfeited	—		—
Non-vested, September 30, 2018	152,466		$	55.66

Canadian Plan

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. Under the Canadian Plan, no more than $10 million CDN ($7.7 million in U.S. Dollars using the exchange rate on September 30, 2018) may be funded to the plan trustee for purchases of common stock with respect to awards granted under the Canadian Plan. At September 30, 2018, approximately $3.5 million CDN ($2.7 million in U.S. Dollars using the exchange rate on September 30, 2018) remains available for issuance under the Canadian Plan, or approximately 52,064 shares based on the closing share price of our stock of $51.74 as of September 30, 2018. During the first nine months of 2018, the trust formed pursuant to the Canadian Plan purchased in the open market 13,031 Westwood common shares for approximately $726,000. As of September 30, 2018, the trust holds 46,358 shares of Westwood common stock. As of September 30, 2018, unrecognized compensation cost related to restricted stock grants under the Canadian Plan totaled $0.8 million, 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. We maintain the award in a corporate investment account until vesting. The investment 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. Unvested mutual fund awards are included under “Investments, at fair value” on our Condensed Consolidated Balance Sheets.

Awards vest over 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 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 three months ended September 30, 2018 and 2017, we recorded expense of approximately $89,000 and $281,000, respectively, related to mutual fund share incentive awards. For the nine months ended September 30, 2018 and 2017, we recorded expense of approximately $274,000 and $819,000, respectively, related to mutual fund share incentive awards. As of September 30, 2018 and December 31, 2017, we had an accrued liability of approximately $606,000 and $1.8 million, respectively, related to mutual fund share incentive awards.

INCOME TAXES (Notes)	9 Months Ended
INCOME TAXES (Notes)	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	INCOME TAXES Our effective income tax rate was 24.9% for the third quarter of 2018, compared with 28.2% for the third quarter of 2017. The current quarter rate benefited from the decrease in the U.S. corporate income tax rate under the Tax Cuts and Jobs Act signed into law in December 2017, partially offset by tax expense of $251,000 related to completion of a state tax audit, while the prior year quarter benefited from the tax impact of our legal settlement with AGF. Our effective income tax rate was 25.3% for the nine months ended September 30, 2018, compared with 29.1% for the nine months ended September 30, 2017. The current year-to-date rate benefited from the decrease in the U.S. corporate income tax rate under the Tax Cuts and Jobs Act signed into law in December 2017, partially offset by tax expense related to completion of a state tax audit, while the first nine months of 2017 benefited from the tax impact of our legal settlement with AGF and included a $1.0 million tax benefit related to the adoption of ASU 2016-09 Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting. Excluding this discrete tax benefit, our effective tax rate would have been 33.0% for the nine months ended September 30, 2017. Tax Reform Act 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. During 2017, we 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. We completed the accounting for our 2017 U.S. corporate income tax return in the third quarter of 2018 and made no significant changes to the amounts provisionally recognized. Tax Audit The Company is subject to taxation in the United States and various state and foreign jurisdictions, and during the first nine months of 2018, our 2014 tax return was audited in a state jurisdiction in which we operate. The audit was completed in September 2018, and we recorded and paid income taxes and interest expense of $251,000 and $81,000, respectively, during the third quarter of 2018, which are included within “Provision for income taxes” and “General and administrative expenses,” respectively, in our Condensed Consolidated Statements of Comprehensive Income. No penalties were assessed by the state.

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2018
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. For the three months ended September 30, 2018 and 2017, we recorded trust fees from these accounts of $89,000 and $92,000, respectively. For the nine months ended September 30, 2018 and 2017, we recorded trust fees from these accounts of $276,000 and $277,000, respectively. There was $89,000 and $98,000 due from these accounts as of September 30, 2018 and December 31, 2017, respectively. The Company engages in transactions with its affiliates in the ordinary course of business. Westwood International 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 quarterly fees paid by clients of the fund or by the funds directly. The fees are based on negotiated fee schedules applied to assets under management. These fees are commensurate with market rates. For the three months ended September 30, 2018 and 2017, the Company earned approximately $1.0 million and $1.1 million, respectively, in fees from the affiliated funds. For the nine months ended September 30, 2018 and 2017, the Company earned approximately $3.3 million and $2.8 million, respectively, in fees from the affiliated funds. These fees do not include fees paid directly to Westwood International by certain clients invested in the UCITS Fund that have an investment management agreement with Westwood International. As of September 30, 2018 and December 31, 2017, $329,000 and $423,000, respectively, of these fees were outstanding and included in “Accounts receivable” on our Condensed Consolidated Balance Sheets. As discussed in Note 4 “Investments,” the Company made a strategic investment in an equity position of a private company during the second and third quarters of 2018. We previously entered into a separate agreement with this private company to implement a portfolio management product. For the three and nine months ended September 30, 2018, we incurred approximately $162,000 and $767,000, respectively, in expenses to this company, which are included in “Information technology expenses” on our Condensed Consolidated Statements of Comprehensive Income. The Company did not incur any similar expenses during the three or nine months ended September 30, 2017.

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation On August 3, 2012, AGF Management Limited and AGF Investments Inc. (collectively, “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 related to the hiring of certain members of Westwood’s global and emerging markets investment team previously employed by AGF. On November 5, 2012, Westwood responded to AGF’s lawsuit with a counterclaim, and on November 6, 2012, AGF filed a second lawsuit against Westwood, Westwood Management and an employee of Westwood International. On October 13, 2017, we reached a settlement with AGF that provided for the dismissal of all claims, with prejudice and without any admission of liability. We agreed to pay AGF a one-time payment of $10.0 million CDN, half of which was covered by our insurance. During 2017, we recorded a net $4.0 million ($5.0 million CDN) charge related to the settlement and associated insurance coverage, with a $4.0 million ($5.0 million CDN) receivable from our insurance provider included in “Other current assets” on our Condensed Consolidated Balance Sheets at December 31, 2017. We received the insurance proceeds of $4.0 million during the nine months ended September 30, 2018 and had no receivable related to the settlement at September 30, 2018. 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 the remaining insurance proceeds related to AGF legal expenses during the nine months ended September 30, 2018 and had no receivable at quarter-end. We had a receivable of approximately $212,000 as of December 31, 2017, which represented our then current minimum estimate of expenses that we expected to recover under our insurance policy. This receivable is included in “Other current assets” on our Condensed Consolidated Balance Sheets.

SEGMENT REPORTING

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

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 reviews 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, which provide investment advisory services to clients of similar type, are included in our Advisory segment along with Westwood Advisors, L.L.C.

Trust

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
Three Months Ended September 30, 2018
Net fee revenues from external sources	$	22,023	$	7,191		$	—		$	—		$	29,214
Net intersegment revenues	1,756		58			—			(1,814		)	—
Net interest and dividend revenue	187		52			—			—			239
Other, net	389		12			—			—			401
Total revenues	$	24,355	$	7,313		$	—		$	(1,814	)	$	29,854
Economic Earnings	$	10,553	$	1,357		$	(2,369	)	$	—		$	9,541
Less: Restricted stock expense												3,695
Intangible amortization												419
Deferred taxes on goodwill												59
Net income												$	5,368

Segment assets	$	220,138	$	60,658		$	16,839		$	(105,008	)	$	192,627
Segment goodwill	$	3,403	$	16,401		$	—		$	—		$	19,804

Three Months Ended September 30, 2017
Net fee revenues from external sources	$	25,334	$	7,858		$	—		$	—		$	33,192
Net intersegment revenues	2,026		57			—			(2,083		)	—
Net interest and dividend revenue	111		43			—			—			154
Other, net	157		(11		)	—			—			146
Total revenues	$	27,628	$	7,947		$	—		$	(2,083	)	$	33,492
Economic Earnings	$	8,786	$	1,560		$	(1,356	)	$	—		$	8,990
Less: Restricted stock expense												4,233
Intangible amortization												469
Deferred taxes on goodwill												156
Net income												$	4,132

Segment assets	$	208,444	$	73,170		$	18,388		$	(108,640	)	$	191,362
Segment goodwill	$	5,219	$	21,925		$	—		$	—		$	27,144



(in thousands)	Advisory		Trust			Westwood Holdings			Eliminations			Consolidated
Nine Months Ended September 30, 2018
Net fee revenues from external sources	$	72,963	$	22,265		$	—		$	—		$	95,228
Net intersegment revenues	5,639		171			—			(5,810		)	—
Net interest and dividend revenue	464		152			—			—			616
Other	331		6			—			—			337
Total revenues	$	79,397	$	22,594		$	—		$	(5,810	)	$	96,181
Economic Earnings	$	37,463	$	4,034		$	(7,069	)	$	—		$	34,428
Less: Restricted stock expense												11,658
Intangible amortization												1,255
Deferred taxes on goodwill												177
Net income												$	21,338

Nine Months Ended September 30, 2017
Net fee revenues from external sources	$	75,036	$	23,570		$	—		$	—		$	98,606
Net intersegment revenues	6,050		160			—			(6,210		)	—
Net interest and dividend revenue	391		67			—			—			458
Other	811		(4		)	—			—			807
Total revenues	$	82,288	$	23,793		$	—		$	(6,210	)	$	99,871
Economic Earnings	$	31,372	$	4,528		$	(4,592	)	$	—		$	31,308
Less: Restricted stock expense												12,298
Intangible amortization												1,449
Deferred taxes on goodwill												469
Net income												$	17,092

We are providing a performance measure that we refer to as Economic Earnings. Our management and the Board of Directors review Economic Earnings to evaluate our ongoing performance, allocate resources and determine our dividend policy. We also 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 tables provide a reconciliation of Net income to Economic Earnings (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Net income	$	5,368	$	4,132	$	21,338	$	17,092
Add: Stock-based compensation expense	3,695		4,233		11,658		12,298
Add: Intangible amortization	419		469		1,255		1,449
Add: Tax benefit from goodwill amortization	59		156		177		469
Economic Earnings	$	9,541	$	8,990	$	34,428	$	31,308

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2018
Subsequent Event [Line Items]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Dividend Declared In October 2018, Westwood’s Board of Directors declared a quarterly cash dividend of $0.72 per common share, an increase of 6% from the previous quarterly dividend rate, payable on January 2, 2019, to stockholders of record on December 7, 2018.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2018
Accounting Policies [Abstract]
Restricted Stock Subject Only To A Service Condition Policy [Text Block]	Restricted Stock Subject Only to a Service Condition We calculate compensation cost for restricted stock grants by 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, with adjustments for forfeitures recorded as they occur.
Restricted Stock Subject To Service And Performance Conditions Policy [Text Block]	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 specific goals for that year’s vesting of the restricted shares. The date that the Compensation Committee establishes annual goals 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 vesting period ends when the Compensation Committee formally approves the performance-based restricted stock vesting based on the specific performance goals from the Company’s audited consolidated financial statements. If a portion of the performance-based restricted shares does not vest, no compensation expense is recognized for that portion and any previously recognized compensation expense related to shares that do not vest is reversed. In March 2018, the Compensation Committee established the fiscal 2018 goal for our Chief Executive Officer and Chief Investment Officer as Income before income taxes of $20.0 million for 50% of their respective awards and an Income before income taxes target of $36.0 million (ranging from 25% of target for threshold performance of $32.0 million to 185% of target for maximum performance of $44.5 million) for the remaining 50% of their respective awards. For certain other key employees, the Compensation Committee established fiscal 2018 goals based on various departmental and company-wide performance goals, including Income before income taxes of at least $20.0 million. During the first nine months of 2018, we recorded expense related to the applicable percentage of the performance-based restricted shares expected to meet or exceed the performance goals needed to earn the shares.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Revenues are recognized when the performance obligation (the investment management and advisory or trust services provided to the client) defined by the investment advisory or sub-advisory agreement is satisfied. For each performance obligation, we determine at contract inception whether the revenue satisfies over time or at a point in time. We derive our revenues from investment advisory fees, trust fees and other sources of revenues. Advisory and Trust fees are calculated based on a percentage of assets under management and the performance obligation is realized over the current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment. Advisory Fee Revenues Our advisory fees are generated by Westwood Management and Westwood International, which manage client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of assets under management and are paid in accordance with the terms of the agreements. Advisory fees are paid quarterly in advance based on assets under management on the last day of the preceding quarter, quarterly in arrears based on assets under management on the last day of the quarter just ended or are based on a daily or monthly analysis of assets under management for the stated period. We recognize advisory fee revenues as services are rendered. Since our advance paying clients' billing periods coincide with the calendar quarter to which such payments relate, revenue is recognized within the quarter and our condensed consolidated financial statements contain no deferred advisory fee revenues. Advisory clients typically consist of institutional and mutual fund accounts. Institutional investors include separate accounts of (i) corporate pension and profit sharing plans, public employee retirement funds, Taft Hartley plans, endowments, foundations and individuals; (ii) subadvisory relationships where Westwood provides investment management services for funds offered by other financial institutions; (iii) pooled investment vehicles, including the UCITS Fund and collective investment trusts; and (iv) managed account relationships with brokerage firms and other registered investment advisors that offer Westwood products to their customers. Mutual funds include the Westwood Funds®, a family of mutual funds for which Westwood Management serves as advisor. These funds are available to individual investors, as well as offered as part of our investment strategies for institutional investors and private wealth accounts. Arrangements with Performance Based Obligations A limited number of our advisory clients have a contractual performance-based fee component in their contracts, which generates additional revenues if we outperform a specified index over a specific period of time. The revenue is based on future market performance and is susceptible to factors outside our control. We cannot conclude that a significant reversal in the cumulative amount of revenue recognized will not occur during the measurement period, and therefore the revenue is recorded at the end of the measurement period when the performance obligation has been satisfied. Trust Fee Revenues Our trust fees are generated by Westwood Trust pursuant to trust or custodial agreements. Trust fees are separately negotiated with each client and are generally based on a percentage of assets under management. Westwood Trust also provides trust services to a small number of clients on a fixed fee basis. The fees for most of our trust clients are calculated quarterly in arrears, based on a daily average of assets under management for the quarter. Since billing periods for most of Westwood Trust’s clients coincide with the calendar quarter, revenue is fully recognized within the quarter and our Condensed Consolidated Financial Statements do not contain a significant amount of deferred trust fee revenues.
Basis of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements are unaudited and are presented in accordance with the requirements for quarterly reports on Form 10-Q and consequently do not include all of the information and footnote disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The Company’s Condensed Consolidated Financial Statements reflect all adjustments (consisting only of normal recurring adjustments) necessary in the opinion of management to present fairly our interim financial position and results of operations and cash flows for the periods presented. The accompanying Condensed Consolidated Financial Statements are presented in accordance with GAAP and the rules and regulations of the Securities and Exchange Commission (“SEC”). The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements, and notes thereto, included in our Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC. Operating results for the periods in these Condensed Consolidated Financial Statements are not necessarily indicative of results for any future period. The accompanying Condensed Consolidated Financial Statements include the accounts of Westwood and its subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 ASU is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Retrospective application is required, with the entity either applying the change to each prior reporting period presented or applying the cumulative effect of each prior reporting period presented at the date of initial application. We adopted ASU 2014-09 effective January 1, 2018. See further discussion in Note 9 “Revenue.” In March 2018, the FASB issued ASU 2018-05, Income Taxes: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 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 Cuts and Jobs Act (“Tax Reform Act”). See further discussion in Note 11 “Income Taxes.” Not Yet Adopted 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. Leases will be classified as either financing or operating, with classification impacting the pattern of expense recognition in the income statement. The amendment is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We will adopt the standard as of January 1, 2019 under the modified retrospective approach, which allows for recording the cumulative effect of the adoption of the standard as an adjustment to beginning retained earnings. We will elect the package of practical expedients permitted under the transition guidance, which among other things, allows us to carry forward the historical lease classification and elect hindsight to determine certain lease terms for existing leases. We have evaluated our population of contracts subject to balance sheet recognition and estimate adoption will result in recognition of additional lease assets and net lease liabilities of approximately $8 million as of January 1, 2019 primarily related to the future minimum payments required under operating leases as disclosed in Note 13 “Commitments and Contingencies” to our Consolidated Financial Statements included in our Annual Report Form 10-K for the fiscal year ended December 31, 2017. The insignificant difference in the additional lease assets and net lease liabilities will be recorded as an adjustment to beginning retained earnings. We do not believe the standard will materially impact our Consolidated Statements of Comprehensive Income or Consolidated Statements of Cash Flows. Beginning with our Quarterly Report on Form 10-Q for the quarter ended March 31, 2019, we will add disclosures surrounding our leases, including lease cost disaggregation, weighted average remaining lease terms and weighted average discount rate used to determine our lease assets and liabilities. We have also analyzed our current business process and internal controls and anticipate implementing new procedures to successfully adopt the standard, particularly for identification of leases and evaluation of the discount rate. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. The purpose of this amendment is to simplify the accounting for share-based payments granted to nonemployees for goods and services by aligning it with the accounting used for arrangements with employees. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt the standard within the required time frame. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurement. The purpose of this amendment is to modify, remove and add certain disclosure requirements for fair value measurements. Under ASU 2018-13, entities are required to disclose the amount of total gains or losses recognized in other comprehensive income attributable to assets and liabilities categorized within Level 3 of the fair value hierarchy. The ASU also adds an incremental requirement about significant unobservable inputs for Level 3 fair value measurements. The requirement to disclose reasons for transfers between Level 1 and Level 2 was removed. Various requirements for Level 3 disclosure were also modified. The amendments in this ASU are effective for all entities for fiscal years and interim periods beginning after December 15, 2019. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt this amendment within the required time frame. In August 2018, the FASB issued ASU 2018-15, Intangibles- Goodwill and Other - Internal-Use Software (Topic 350): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The purpose of this amendment is to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The amendments in this update are effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. We do not expect the amendment to have a material impact on our Consolidated Financial Statements, and we plan to adopt the standard within the required time frame.

EARNINGS PER SHARE Policies (Policies)	9 Months Ended
EARNINGS PER SHARE Policies (Policies)	Sep. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share, Policy [Policy Text Block]	Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding for the applicable period. Diluted earnings per share is computed based on the weighted average number of shares outstanding plus the effect of any dilutive shares of restricted stock granted to employees and non-employee directors.

VARIABLE INTEREST ENTITIES Policies (Policies)	9 Months Ended
VARIABLE INTEREST ENTITIES Policies (Policies)	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	We have evaluated (i) our advisory relationships with the UCITS Fund and the Westwood Funds®, (ii) our relationship as sponsor of the Common Trust Funds (“CTFs”) and managing member of the private equity funds Westwood Hospitality Fund I, LLC and Westwood Technology Fund LP (collectively the “Private Equity Funds”) and (iii) the private company discussed in Note 4 “Investments” (“Private Equity”) to determine whether each of these entities is a variable interest entity (“VIE”) or voting ownership entity (“VOE”). Based on our analysis, we determined that the CTFs and Private Equity Funds 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 entities' respective boards of directors and can influence the respective entities' management and affairs. Prior to the sale of our Omaha-based operations, we also considered our advisory relationship with ten limited liability companies (“LLCs”) as VIEs, but as of September 30, 2018, we no longer serve as the managing member of the funds and do not control the activities that most significantly impact the entities' economic performance. Therefore these LLCs are no longer considered VIEs. Although we have related parties on the UCITS Fund board of directors, the shareholders have rights to remove the current directors by a simple majority vote and so we determined that the UCITS Fund is not a VIE. As the Company and its representatives do not have representation on the Westwood Funds® or the Private Equity independent boards of directors, which direct the activities that most significantly impact the entities' economic performance, we determined that the Westwood Funds® and the Private Equity were not VIEs. Therefore, the UCITS Fund, Westwood Funds® and Private Equity should be analyzed under the VOE consolidation method. Based on our analysis of our investments in these entities for the periods ending September 30, 2018 and December 31, 2017, we have not consolidated the CTFs, Private Equity Funds or LLCs under the VIE method or the UCITS Fund, Westwood Funds® or Private Equity under the VOE method, and therefore the financial results of these entities are not included in the Company’s consolidated financial results.

REVENUE Policies (Policies)	9 Months Ended
REVENUE Policies (Policies)	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Revenues are recognized when the performance obligation (the investment management and advisory or trust services provided to the client) defined by the investment advisory or sub-advisory agreement is satisfied. For each performance obligation, we determine at contract inception whether the revenue satisfies over time or at a point in time. We derive our revenues from investment advisory fees, trust fees and other sources of revenues. Advisory and Trust fees are calculated based on a percentage of assets under management and the performance obligation is realized over the current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment. Advisory Fee Revenues Our advisory fees are generated by Westwood Management and Westwood International, which manage client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of assets under management and are paid in accordance with the terms of the agreements. Advisory fees are paid quarterly in advance based on assets under management on the last day of the preceding quarter, quarterly in arrears based on assets under management on the last day of the quarter just ended or are based on a daily or monthly analysis of assets under management for the stated period. We recognize advisory fee revenues as services are rendered. Since our advance paying clients' billing periods coincide with the calendar quarter to which such payments relate, revenue is recognized within the quarter and our condensed consolidated financial statements contain no deferred advisory fee revenues. Advisory clients typically consist of institutional and mutual fund accounts. Institutional investors include separate accounts of (i) corporate pension and profit sharing plans, public employee retirement funds, Taft Hartley plans, endowments, foundations and individuals; (ii) subadvisory relationships where Westwood provides investment management services for funds offered by other financial institutions; (iii) pooled investment vehicles, including the UCITS Fund and collective investment trusts; and (iv) managed account relationships with brokerage firms and other registered investment advisors that offer Westwood products to their customers. Mutual funds include the Westwood Funds®, a family of mutual funds for which Westwood Management serves as advisor. These funds are available to individual investors, as well as offered as part of our investment strategies for institutional investors and private wealth accounts. Arrangements with Performance Based Obligations A limited number of our advisory clients have a contractual performance-based fee component in their contracts, which generates additional revenues if we outperform a specified index over a specific period of time. The revenue is based on future market performance and is susceptible to factors outside our control. We cannot conclude that a significant reversal in the cumulative amount of revenue recognized will not occur during the measurement period, and therefore the revenue is recorded at the end of the measurement period when the performance obligation has been satisfied. Trust Fee Revenues Our trust fees are generated by Westwood Trust pursuant to trust or custodial agreements. Trust fees are separately negotiated with each client and are generally based on a percentage of assets under management. Westwood Trust also provides trust services to a small number of clients on a fixed fee basis. The fees for most of our trust clients are calculated quarterly in arrears, based on a daily average of assets under management for the quarter. Since billing periods for most of Westwood Trust’s clients coincide with the calendar quarter, revenue is fully recognized within the quarter and our Condensed Consolidated Financial Statements do not contain a significant amount of deferred trust fee revenues.

DESCRIPTION OF THE BUSINESS Table (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The following table presents cash proceeds received and net assets sold (in thousands):



Cash Proceeds	$	10,013
Net assets sold:
Accounts receivable	99
Other current assets	112
Goodwill	7,340
Intangible assets, net	2,170
Property and equipment, net	18
Accounts payable and accrued liabilities	(241		)
Other liabilities	(9		)
Gain on sale of operations	$	524

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Net income	$	5,368	$	4,132	$	21,338	$	17,092

Weighted average shares outstanding - basic	8,402,697		8,171,809		8,359,088		8,136,350
Dilutive potential shares from unvested restricted shares	195,533		248,940		202,830		214,576
Weighted average shares outstanding - diluted	8,598,230		8,420,749		8,561,918		8,350,926

Earnings per share:
Basic	$	0.64	$	0.51	$	2.55	$	2.10
Diluted	$	0.62	$	0.49	$	2.49	$	2.05

INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Investments, Debt and Equity Securities [Abstract]

Investment Balances

Trading securities are presented in the table below (in thousands):



	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Market Value
September 30, 2018:
U.S. Government and Government agency obligations	$	51,194	$	117	$	—		$	51,311
Money market funds	9,978		—		—			9,978
Equity funds	9,333		545		(164		)	9,714
Total trading securities	$	70,505	$	662	$	(164	)	$	71,003
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
Total trading securities	$	50,681	$	678	$	(35	)	$	51,324

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]

The following table summarizes the values of our investments measured at fair value on a recurring basis within the fair value hierarchy as of the dates indicated (in thousands):



	Level 1		Level 2		Level 3		Investments Measured at NAV ⁽¹⁾		Total
As of September 30, 2018:
Investments in trading securities	$	68,567	$	—	$	—	$	2,436	$	71,003
Total assets measured at fair value	$	68,567	$	—	$	—	$	2,436	$	71,003

As of December 31, 2017:
Investments in trading securities	$	48,998	$	—	$	—	$	2,326	$	51,324
Total assets measured at fair value	$	48,998	$	—	$	—	$	2,326	$	51,324

(1) Comprised of certain investments measured at fair value using net asset value (“NAV”) as a practical expedient. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on our Condensed Consolidated Balance Sheets.

ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS Table (Tables)

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

Changes in the balance of Intangible assets, net for the periods presented are as follows (in thousands):



	Intangible assets, net
Balance as of December 31, 2017	$	19,804
Amortization	(1,255		)
Omaha divestiture ⁽¹⁾	(2,170		)
Balance as of September 30, 2018	$	16,379

_____________________

(1) Related to client relationships

Schedule of Goodwill [Table Text Block]

Changes in the balance of Goodwill for the periods presented are as follows (in thousands):



	Goodwill
Balance as of December 31, 2017	$	27,144
Omaha divestiture	(7,340		)
Balance as of September 30, 2018	$	19,804

BALANCE SHEET COMPONENTS (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Components of Accumulated Other Comprehensive Loss

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



	As of September 30, 2018			As of December 31, 2017
Foreign currency translation adjustment	$	(2,826	)	$	(1,764	)
Accumulated other comprehensive loss	$	(2,826	)	$	(1,764	)

VARIABLE INTEREST ENTITIES (Tables)

9 Months Ended

Sep. 30, 2018

Variable Interest Entities [Abstract]

Variable Interest Entities



	As of September 30, 2018
	Assets Under Management		Corporate Investment		Amount at Risk
VIEs/VOEs:
Westwood Funds®	$	4,031	$	6	$	6
Common Trust Funds	2,079		3		3
UCITS Fund	388		—		—
Private Equity Funds	8		—		—
Private Equity	—		5		5
All other assets:
Private Wealth	2,703
Institutional	11,591
Total Assets Under Management	$	20,800

- 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

REVENUE Table (Tables)

9 Months Ended

Sep. 30, 2018

Disaggregation of Revenue [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table presents our revenue disaggregated by account type (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Advisory Fees:
Institutional	$	14,426	$	17,610	$	46,815	$	51,263
Mutual Funds	7,527		7,724		23,030		22,356
Private Wealth	70		—		134		—
Performance-based	—		—		2,984		1,417
Trust Fees	7,191		7,858		22,265		23,570
Other	640		300		953		1,265
Total revenues	$	29,854	$	33,492	$	96,181	$	99,871

Revenue Disaggregation by Geographic Location [Table Text Block]

The following table presents our revenue disaggregated by our clients' geographical locations (in thousands):



Three Months Ended September 30, 2018	Advisory		Trust		Performance-based		Other		Total
Asia	$	853	$	—	$	—	$	—	$	853
Australia	927		—		—		—		927
Canada	1,707		—		—		38		1,745
Europe	1,249		—		—		—		1,249
United States	17,287		7,191		—		602		25,080
Total	$	22,023	$	7,191	$	—	$	640	$	29,854

Nine Months Ended September 30, 2018
Asia	$	3,520	$	—	$	—	$	—	$	3,520
Australia	2,923		—		—		—		2,923
Canada	5,177		—		—		124		5,301
Europe	3,839		—		—		—		3,839
United States	54,520		22,265		2,984		829		80,598
Total	$	69,979	$	22,265	$	2,984	$	953	$	96,181



Three Months Ended September 30, 2017	Advisory		Trust		Performance-based		Other			Total
Asia	$	1,649	$	—	$	—	$	—		$	1,649
Australia	944		—		—		—			944
Canada	2,219		—		—		516			2,735
Europe	946		—		—		—			946
United States	19,576		7,858		—		(216		)	27,218
Total	$	25,334	$	7,858	$	—	$	300		$	33,492

Nine Months Ended September 30, 2017
Asia	$	4,696	$	—	$	—	$	—		$	4,696
Australia	2,371		—		—		—			2,371
Canada	6,351		—		—		738			7,089
Europe	3,065		—		—		—			3,065
United States	57,136		23,570		1,417		527			82,650
Total	$	73,619	$	23,570	$	1,417	$	1,265		$	99,871

LONG-TERM INCENTIVE COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2018

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

Total Expense Recorded for Stock Based Compensation

The following table presents the total stock-based compensation expense recorded for stock-based compensation arrangements for the periods indicated (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Service condition stock-based compensation expense	$	2,434	$	2,591	$	7,759	$	7,828
Performance condition stock-based compensation expense	1,107		1,454		3,471		3,949
Stock-based compensation expense under the Plan	3,541		4,045		11,230		11,777
Canadian Plan stock-based compensation expense	154		188		428		521
Total stock-based compensation expense	$	3,695	$	4,233	$	11,658	$	12,298

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 subject only to a service condition for the nine months ended September 30, 2018:



	Shares		Weighted Average Grant Date Fair Value
Non-vested, January 1, 2018	519,375		$	55.44
Granted	172,366		55.92
Vested	(203,504	)	53.49
Forfeited	(29,229	)	56.55
Non-vested, September 30, 2018	459,008		$	56.42

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 nine months ended September 30, 2018:



	Shares		Weighted Average Grant Date Fair Value
Non-vested, January 1, 2018	165,918		$	55.85
Granted	84,829		55.46
Vested	(98,281	)	55.81
Forfeited	—		—
Non-vested, September 30, 2018	152,466		$	55.66

SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information, by Segment [Table Text Block]



(in thousands)	Advisory		Trust			Westwood Holdings			Eliminations			Consolidated
Nine Months Ended September 30, 2018
Net fee revenues from external sources	$	72,963	$	22,265		$	—		$	—		$	95,228
Net intersegment revenues	5,639		171			—			(5,810		)	—
Net interest and dividend revenue	464		152			—			—			616
Other	331		6			—			—			337
Total revenues	$	79,397	$	22,594		$	—		$	(5,810	)	$	96,181
Economic Earnings	$	37,463	$	4,034		$	(7,069	)	$	—		$	34,428
Less: Restricted stock expense												11,658
Intangible amortization												1,255
Deferred taxes on goodwill												177
Net income												$	21,338

Nine Months Ended September 30, 2017
Net fee revenues from external sources	$	75,036	$	23,570		$	—		$	—		$	98,606
Net intersegment revenues	6,050		160			—			(6,210		)	—
Net interest and dividend revenue	391		67			—			—			458
Other	811		(4		)	—			—			807
Total revenues	$	82,288	$	23,793		$	—		$	(6,210	)	$	99,871
Economic Earnings	$	31,372	$	4,528		$	(4,592	)	$	—		$	31,308
Less: Restricted stock expense												12,298
Intangible amortization												1,449
Deferred taxes on goodwill												469
Net income												$	17,092



(in thousands)	Advisory		Trust			Westwood Holdings			Eliminations			Consolidated
Three Months Ended September 30, 2018
Net fee revenues from external sources	$	22,023	$	7,191		$	—		$	—		$	29,214
Net intersegment revenues	1,756		58			—			(1,814		)	—
Net interest and dividend revenue	187		52			—			—			239
Other, net	389		12			—			—			401
Total revenues	$	24,355	$	7,313		$	—		$	(1,814	)	$	29,854
Economic Earnings	$	10,553	$	1,357		$	(2,369	)	$	—		$	9,541
Less: Restricted stock expense												3,695
Intangible amortization												419
Deferred taxes on goodwill												59
Net income												$	5,368

Segment assets	$	220,138	$	60,658		$	16,839		$	(105,008	)	$	192,627
Segment goodwill	$	3,403	$	16,401		$	—		$	—		$	19,804

Three Months Ended September 30, 2017
Net fee revenues from external sources	$	25,334	$	7,858		$	—		$	—		$	33,192
Net intersegment revenues	2,026		57			—			(2,083		)	—
Net interest and dividend revenue	111		43			—			—			154
Other, net	157		(11		)	—			—			146
Total revenues	$	27,628	$	7,947		$	—		$	(2,083	)	$	33,492
Economic Earnings	$	8,786	$	1,560		$	(1,356	)	$	—		$	8,990
Less: Restricted stock expense												4,233
Intangible amortization												469
Deferred taxes on goodwill												156
Net income												$	4,132

Segment assets	$	208,444	$	73,170		$	18,388		$	(108,640	)	$	191,362
Segment goodwill	$	5,219	$	21,925		$	—		$	—		$	27,144

ReconciliationFromNetIncomeToNonGaapMeasure [Table Text Block]

The following tables provide a reconciliation of Net income to Economic Earnings (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Net income	$	5,368	$	4,132	$	21,338	$	17,092
Add: Stock-based compensation expense	3,695		4,233		11,658		12,298
Add: Intangible amortization	419		469		1,255		1,449
Add: Tax benefit from goodwill amortization	59		156		177		469
Economic Earnings	$	9,541	$	8,990	$	34,428	$	31,308

DESCRIPTION OF THE BUSINESS Omaha Operations Divestiture (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Cash Proceeds From Divestiture [Line Items]
Proceeds from sale of operations			$ 10,013,000	$ 0
Accounts receivable	$ 19,832,000		19,832,000		$ 21,660,000
Other current assets	2,308,000		2,308,000		6,612,000
Goodwill	19,804,000	$ 27,144,000	19,804,000	27,144,000	27,144,000
Intangible assets, net	16,379,000		16,379,000		19,804,000
Property and equipment, net of accumulated depreciation of $6,287 and $5,673	4,120,000		4,120,000		4,190,000
Accounts payable and accrued liabilities	(2,521,000)		(2,521,000)		$ (3,501,000)
Gain on sale of operations	0	$ 0	524,000	$ 0
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Cash Proceeds From Divestiture [Line Items]
Proceeds from sale of operations			10,013,000
Accounts receivable	99,000		99,000
Other current assets	112,000		112,000
Goodwill	7,340,000		7,340,000
Intangible assets, net	2,170,000		2,170,000
Property and equipment, net of accumulated depreciation of $6,287 and $5,673	18,000		18,000
Accounts payable and accrued liabilities	(241,000)		(241,000)
Other liabilities	$ (9,000)		(9,000)
Gain on sale of operations			$ 524,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Changes and Error Corrections (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018 USD ($)
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 8

EARNINGS PER SHARE (Details Textual) - shares	3 Months Ended		9 Months Ended
EARNINGS PER SHARE (Details Textual) - shares	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive restricted shares	0	0	3,251	8,800

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Computation of Basic and Diluted Shares
Net income	$ 5,368	$ 4,132	$ 21,338	$ 17,092
Weighted average shares outstanding - basic (shares)	8,402,697	8,171,809	8,359,088	8,136,350
Dilutive potential shares from unvested restricted shares (shares)	195,533	248,940	202,830	214,576
Weighted average shares outstanding - diluted (shares)	8,598,230	8,420,749	8,561,918	8,350,926
Earnings per share:
Basic (dollars per share)	$ 0.64	$ 0.51	$ 2.55	$ 2.10
Diluted (dollars per share)	$ 0.62	$ 0.49	$ 2.49	$ 2.05

INVESTMENTS (Details) - USD ($) $ in Thousands	9 Months Ended
INVESTMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Investment balances
Cost			$ 50,681
Gross Unrealized Gains		$ 678
Gross Unrealized Losses		(35)
Estimated Market Value	$ 71,003		51,324
Money market funds
Investment balances
Cost	9,978		9,736
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Market Value	9,978		9,736
Equity funds
Investment balances
Cost	9,333		11,578
Gross Unrealized Gains	545	657
Gross Unrealized Losses	(164)	$ (20)
Estimated Market Value	$ 9,714		$ 12,215

INVESTMENTS (Details Textual) - USD ($)	9 Months Ended
INVESTMENTS (Details Textual) - USD ($)	Sep. 30, 2018	Sep. 30, 2017	Aug. 31, 2018	May 31, 2018	Dec. 31, 2017
Schedule Of Investments [Line Items]
Long-term Investments	$ 5,425,000			$ 5,000,000	$ 0
Private Equity Investment Commitment			$ 5,000,000
Private Equity Investment Purchase	425,000
Cost					50,681,000
Trading Securities, Unrealized Holding Gain		$ 678,000
Trading Securities, Unrealized Holding Loss		(35,000)
Estimated Market Value	71,003,000				51,324,000
VIE
Schedule Of Investments [Line Items]
Estimated Market Value	8,700,000				10,700,000
U.S. Government and Government agency obligations
Schedule Of Investments [Line Items]
Cost	51,194,000				29,367,000
Trading Securities, Unrealized Holding Gain	117,000	21,000
Trading Securities, Unrealized Holding Loss	0	(15,000)
Estimated Market Value	51,311,000				29,373,000
Money market funds
Schedule Of Investments [Line Items]
Cost	9,978,000				9,736,000
Trading Securities, Unrealized Holding Gain	0	0
Trading Securities, Unrealized Holding Loss	0	0
Estimated Market Value	9,978,000				9,736,000
Equity funds
Schedule Of Investments [Line Items]
Cost	9,333,000				11,578,000
Trading Securities, Unrealized Holding Gain	545,000	657,000
Trading Securities, Unrealized Holding Loss	(164,000)	$ (20,000)
Estimated Market Value	9,714,000				$ 12,215,000
Private Equity Funds [Member]
Schedule Of Investments [Line Items]
Cost	70,505,000
Trading Securities, Unrealized Holding Gain	662,000
Trading Securities, Unrealized Holding Loss	(164,000)
Estimated Market Value	$ 71,003,000

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Investments in securities:
Investments in trading securities	$ 71,003	$ 51,324
Fair Value, Net Asset (Liability)	71,003	51,324
Inputs, Net Asset Value [Member]
Investments in securities:
Investments in trading securities	2,436	2,326
Level 1
Investments in securities:
Investments in trading securities	68,567	48,998
Fair Value, Net Asset (Liability)	68,567	48,998
Level 2
Investments in securities:
Investments in trading securities	0	0
Fair Value, Net Asset (Liability)	0	0
Level 3
Investments in securities:
Investments in trading securities	0	0
Fair Value, Net Asset (Liability)	$ 0	$ 0

ACQUISITIONS, GOODWILL AND OTHER INTANGIBLE ASSETS (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Impairment Loss	$ 0	$ 0	$ 0	$ 0
Impairment of Intangible Assets (Excluding Goodwill)	0	0	0	0
Intangible assets, net	16,379,000		16,379,000		$ 19,804,000
Amortization of Intangible Assets	(419,000)	(469,000)	(1,255,000)	(1,449,000)
Intangible Assets reduction from divestiture			(2,170,000)
Goodwill	$ 19,804,000	$ 27,144,000	19,804,000	$ 27,144,000	$ 27,144,000
Goodwill reduction from divestiture			$ (7,340,000)

BALANCE SHEET COMPONENTS (Details 1) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Components of accumulated other comprehensive loss
Foreign currency translation adjustment	$ (2,826)	$ (1,764)
Accumulated other comprehensive loss	$ (2,826)	$ (1,764)

VARIABLE INTEREST ENTITIES (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Variable Interest Entity [Line Items]
Trading Securities	$ 71,003		$ 71,003		$ 51,324
Fee revenues from Westwood VIEs	11,700	$ 13,200	36,300	$ 39,100
VIE
Variable Interest Entity [Line Items]
Trading Securities	8,700		8,700		$ 10,700
Common Trust Funds
Variable Interest Entity [Line Items]
Trading Securities	3,000		3,000
UCITS Fund
Variable Interest Entity [Line Items]
Trading Securities	$ 0		$ 0

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Variable Interest Entities
Assets Under Management	$ 20,800,000
Estimated Market Value	71,003	$ 51,324
Westwood Funds®
Variable Interest Entities
Assets Under Management	4,031,000
Estimated Market Value	6,000
Amount at Risk	6,000
Common Trust Funds
Variable Interest Entities
Assets Under Management	2,079,000
Estimated Market Value	3,000
Amount at Risk	3,000
UCITS Fund
Variable Interest Entities
Assets Under Management	388,000
Estimated Market Value	0
Amount at Risk	0
Westwood Hospitality Fund I LLC [Member]
Variable Interest Entities
Assets Under Management	8,000
Estimated Market Value	0
Amount at Risk	0
Private Equity Investments [Member]
Variable Interest Entities
Assets Under Management	0
Estimated Market Value	5,000
Amount at Risk	5,000
Private Wealth
Variable Interest Entities
Assets Under Management	2,703,000
Institutional
Variable Interest Entities
Assets Under Management	$ 11,591,000

REVENUE Disaggregation of Revenue (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer, Excluding Assessed Tax

REVENUE

Adoption of ASC 2014-09 Revenue from Contracts with Customers (Topic 606)

Revenue Recognition

Advisory Fee Revenues

Arrangements with Performance Based Obligations

Trust Fee Revenues

Revenue Disaggregated

Sales taxes are excluded from revenues. The following table presents our revenue disaggregated by account type (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Advisory Fees:
Institutional	$	14,426	$	17,610	$	46,815	$	51,263
Mutual Funds	7,527		7,724		23,030		22,356
Private Wealth	70		—		134		—
Performance-based	—		—		2,984		1,417
Trust Fees	7,191		7,858		22,265		23,570
Other	640		300		953		1,265
Total revenues	$	29,854	$	33,492	$	96,181	$	99,871

We have clients in various locations around the world. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands):



Three Months Ended September 30, 2018	Advisory		Trust		Performance-based		Other		Total
Asia	$	853	$	—	$	—	$	—	$	853
Australia	927		—		—		—		927
Canada	1,707		—		—		38		1,745
Europe	1,249		—		—		—		1,249
United States	17,287		7,191		—		602		25,080
Total	$	22,023	$	7,191	$	—	$	640	$	29,854

Nine Months Ended September 30, 2018
Asia	$	3,520	$	—	$	—	$	—	$	3,520
Australia	2,923		—		—		—		2,923
Canada	5,177		—		—		124		5,301
Europe	3,839		—		—		—		3,839
United States	54,520		22,265		2,984		829		80,598
Total	$	69,979	$	22,265	$	2,984	$	953	$	96,181



Three Months Ended September 30, 2017	Advisory		Trust		Performance-based		Other			Total
Asia	$	1,649	$	—	$	—	$	—		$	1,649
Australia	944		—		—		—			944
Canada	2,219		—		—		516			2,735
Europe	946		—		—		—			946
United States	19,576		7,858		—		(216		)	27,218
Total	$	25,334	$	7,858	$	—	$	300		$	33,492

Nine Months Ended September 30, 2017
Asia	$	4,696	$	—	$	—	$	—		$	4,696
Australia	2,371		—		—		—			2,371
Canada	6,351		—		—		738			7,089
Europe	3,065		—		—		—			3,065
United States	57,136		23,570		1,417		527			82,650
Total	$	73,619	$	23,570	$	1,417	$	1,265		$	99,871

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ (29,854)

$ (33,492)

$ (96,181)

$ (99,871)

Asia [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(853)

(1,649)

(3,520)

(4,696)

Australia

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(927)

(944)

(2,923)

(2,371)

Canada

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(1,745)

(2,735)

(5,301)

(7,089)

Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(1,249)

(946)

(3,839)

(3,065)

United States [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(25,080)

(27,218)

(80,598)

(82,650)

Investment Advisory Services [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(22,023)

(25,334)

(69,979)

(73,619)

Investment Advisory Services [Member] | Asia [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(853)

(1,649)

(3,520)

(4,696)

Investment Advisory Services [Member] | Australia

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(927)

(944)

(2,923)

(2,371)

Investment Advisory Services [Member] | Canada

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(1,707)

(2,219)

(5,177)

(6,351)

Investment Advisory Services [Member] | Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(1,249)

(946)

(3,839)

(3,065)

Investment Advisory Services [Member] | United States [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(17,287)

(19,576)

(54,520)

(57,136)

Investment Advisory Services [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(14,426)

(17,610)

(46,815)

(51,263)

Mutual Fund Advisory [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(7,527)

(7,724)

(23,030)

(22,356)

Private Wealth Advisory [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(70)

(134)

Performance-based fees [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(2,984)

(1,417)

Performance-based fees [Member] | Asia [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Performance-based fees [Member] | Australia

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Performance-based fees [Member] | Canada

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Performance-based fees [Member] | Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Performance-based fees [Member] | United States [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(2,984)

(1,417)

Performance-based fees [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(2,984)

(1,417)

Trust Fees [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(7,191)

(7,858)

(22,265)

(23,570)

Trust Fees [Member] | Asia [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Trust Fees [Member] | Australia

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Trust Fees [Member] | Canada

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Trust Fees [Member] | Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Trust Fees [Member] | United States [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(7,191)

(7,858)

(22,265)

(23,570)

Trust Fees [Member] | Trust

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(7,191)

(7,858)

(22,265)

(23,570)

Other Revenue Misc Services [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(640)

(300)

(953)

(1,265)

Other Revenue Misc Services [Member] | Asia [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Other Revenue Misc Services [Member] | Australia

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Other Revenue Misc Services [Member] | Canada

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(38)

(516)

(124)

(738)

Other Revenue Misc Services [Member] | Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Other Revenue Misc Services [Member] | United States [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(602)

(216)

(829)

(527)

Other Revenue Misc Services [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ (640)

$ (300)

$ (953)

$ (1,265)

LONG-TERM INCENTIVE COMPENSATION (Details Textual) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018 USD ($) $ / shares shares	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) $ / shares shares	Sep. 30, 2018 CAD ($) shares	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($) shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Provision for income taxes	$ 1,783,000	$ 1,620,000	$ 7,236,000		$ 7,013,000
Remaining unrecognized compensation cost recognized over a remaining weighted average period			2 years 2 months	2 years 2 months
Accrued liability	606,000		$ 606,000			$ 1,800,000
Mutual Fund [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service period of mutual fund share incentive award			3 years	3 years
Expense related to mutual fund share incentive awards	$ 89,000	281,000	$ 274,000		819,000
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	4,848,100		4,848,100
Shares remain available for issuance \| shares	409,000		409,000
Remaining unrecognized compensation cost	$ 23,800,000		$ 23,800,000
Nonvested restricted shares \| shares	459,008		459,008			519,375
Expense related to mutual fund share incentive awards	$ 3,695,000	$ 4,233,000	$ 11,658,000		$ 12,298,000
Canadian Plan \| Westwood International Advisors Inc
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares remain available for issuance \| shares	52,064		52,064
Share Based Compensation Arrangement By Share Based Payment Award Available For Grant, Original			$ 7,700,000	$ 10.0
Fund purchases of common stock	$ 46,358		46,358
Purchases of common stock with respect to awards granted			$ 2,700,000	$ 3.5
Share price \| $ / shares	$ 51.74		$ 51.74
Amount of shares purchased in the open market	$ 726,000
Purchases of treasury stock, shares \| shares			13,031	13,031
Remaining unrecognized compensation cost	$ 800,000		$ 800,000
Remaining unrecognized compensation cost recognized over a remaining weighted average period			1 year 9 months	1 year 9 months
Share-based Compensation Award, First 50% of CEO and CIO Award \| Target [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Pretax Income Goal			$ 20,000,000
Share-based Compensation Award, Second 50% of CEO and CIO Award \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Pretax Income Goal			$ 32,000,000
Percentage of Pretax income Goal Earned			25.00%	25.00%
Share-based Compensation Award, Second 50% of CEO and CIO Award \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Pretax Income Goal			$ 44,500,000
Percentage of Pretax income Goal Earned			185.00%	185.00%
Share-based Compensation Award, Second 50% of CEO and CIO Award \| Target [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Pretax Income Goal			$ 36,000,000
Share-based Compensation Award, All Other Performance Grants \| Target [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Pretax Income Goal			$ 20,000,000

LONG-TERM INCENTIVE COMPENSATION (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

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

Schedule of Segment Reporting Information, by Segment [Table Text Block]



(in thousands)	Advisory		Trust			Westwood Holdings			Eliminations			Consolidated
Nine Months Ended September 30, 2018
Net fee revenues from external sources	$	72,963	$	22,265		$	—		$	—		$	95,228
Net intersegment revenues	5,639		171			—			(5,810		)	—
Net interest and dividend revenue	464		152			—			—			616
Other	331		6			—			—			337
Total revenues	$	79,397	$	22,594		$	—		$	(5,810	)	$	96,181
Economic Earnings	$	37,463	$	4,034		$	(7,069	)	$	—		$	34,428
Less: Restricted stock expense												11,658
Intangible amortization												1,255
Deferred taxes on goodwill												177
Net income												$	21,338

Nine Months Ended September 30, 2017
Net fee revenues from external sources	$	75,036	$	23,570		$	—		$	—		$	98,606
Net intersegment revenues	6,050		160			—			(6,210		)	—
Net interest and dividend revenue	391		67			—			—			458
Other	811		(4		)	—			—			807
Total revenues	$	82,288	$	23,793		$	—		$	(6,210	)	$	99,871
Economic Earnings	$	31,372	$	4,528		$	(4,592	)	$	—		$	31,308
Less: Restricted stock expense												12,298
Intangible amortization												1,449
Deferred taxes on goodwill												469
Net income												$	17,092



(in thousands)	Advisory		Trust			Westwood Holdings			Eliminations			Consolidated
Three Months Ended September 30, 2018
Net fee revenues from external sources	$	22,023	$	7,191		$	—		$	—		$	29,214
Net intersegment revenues	1,756		58			—			(1,814		)	—
Net interest and dividend revenue	187		52			—			—			239
Other, net	389		12			—			—			401
Total revenues	$	24,355	$	7,313		$	—		$	(1,814	)	$	29,854
Economic Earnings	$	10,553	$	1,357		$	(2,369	)	$	—		$	9,541
Less: Restricted stock expense												3,695
Intangible amortization												419
Deferred taxes on goodwill												59
Net income												$	5,368

Segment assets	$	220,138	$	60,658		$	16,839		$	(105,008	)	$	192,627
Segment goodwill	$	3,403	$	16,401		$	—		$	—		$	19,804

Three Months Ended September 30, 2017
Net fee revenues from external sources	$	25,334	$	7,858		$	—		$	—		$	33,192
Net intersegment revenues	2,026		57			—			(2,083		)	—
Net interest and dividend revenue	111		43			—			—			154
Other, net	157		(11		)	—			—			146
Total revenues	$	27,628	$	7,947		$	—		$	(2,083	)	$	33,492
Economic Earnings	$	8,786	$	1,560		$	(1,356	)	$	—		$	8,990
Less: Restricted stock expense												4,233
Intangible amortization												469
Deferred taxes on goodwill												156
Net income												$	4,132

Segment assets	$	208,444	$	73,170		$	18,388		$	(108,640	)	$	191,362
Segment goodwill	$	5,219	$	21,925		$	—		$	—		$	27,144

DomesticEmployeeServiceAward [Member]

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

Allocated Share-based Compensation Expense

$ 2,434

$ 2,591

$ 7,759

$ 7,828

Performance Shares [Member]

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

Allocated Share-based Compensation Expense

1,107

1,454

3,471

3,949

DomesticServiceAndPerformanceAward [Member]

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

Allocated Share-based Compensation Expense

3,541

4,045

11,230

11,777

CanadianEmployeeServiceAward [Member]

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

Allocated Share-based Compensation Expense

154

188

428

521

Restricted Stock

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

Allocated Share-based Compensation Expense

$ 3,695

$ 4,233

$ 11,658

$ 12,298

LONG-TERM INCENTIVE COMPENSATION (Details 1) - Restricted Shares Subject Only to a Service Condition	9 Months Ended
	Sep. 30, 2018 $ / shares shares
Restricted shares subject only to a service condition:
Non-vested, beginning balance, shares \| shares	519,375
Granted (shares) \| shares	172,366
Vested (shares) \| shares	(203,504)
Forfeited (shares) \| shares	(29,229)
Non-vested, ending balance, shares \| shares	459,008
Non-vested, beginning balance, (dollars per share) \| $ / shares	$ 55.44
Granted (dollars per share) \| $ / shares	55.92
Vested (dollars per share) \| $ / shares	53.49
Forfeited (dollars per share) \| $ / shares	56.55
Non-vested, ending balance, (dollars per share) \| $ / shares	$ 56.42

LONG-TERM INCENTIVE COMPENSATION (Details 2) - Restricted Shares Subject to Service and Performance Conditions	9 Months Ended
	Sep. 30, 2018 $ / shares shares
Restricted shares subject only to a service condition:
Non-vested, beginning balance, shares \| shares	165,918
Granted (shares) \| shares	84,829
Vested (shares) \| shares	(98,281)
Forfeited (shares) \| shares	0
Non-vested, ending balance, shares \| shares	152,466
Non-vested, beginning balance, (dollars per share) \| $ / shares	$ 55.85
Granted (dollars per share) \| $ / shares	55.46
Vested (dollars per share) \| $ / shares	55.81
Forfeited (dollars per share) \| $ / shares	0.00
Non-vested, ending balance, (dollars per share) \| $ / shares	$ 55.66

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective Income Tax Rate Reconciliation, Percent	24.90%	28.20%	25.30%	29.10%
Provision for income taxes	$ 1,783	$ 1,620	$ 7,236	$ 7,013
Adoption of ASU 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for income taxes				$ 1,000
Tax rate excluding ASU 2016-09 adoption				33.00%

INCOME TAXES Tax Audit (Details) - USD ($)	3 Months Ended		9 Months Ended
INCOME TAXES Tax Audit (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Examination [Line Items]
Additional Income Tax From Audit	$ 251,000
Provision for income taxes	1,783,000	$ 1,620,000	$ 7,236,000	$ 7,013,000
Income Tax Examination, Interest Expense	$ 81,000

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
UCITS Fund
Related Party Transaction [Line Items]
Fees earned from related party	$ 1,000,000	$ 1,100,000	$ 3,300,000	$ 2,800,000
Fees unpaid from related party	329,000		329,000		$ 423,000
Private Equity Investments [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	162,000		767,000
Trust
Related Party Transaction [Line Items]
Due from related party	89,000		89,000		$ 98,000
Fees earned from related party	$ 89,000	$ 92,000	$ 276,000	$ 277,000

COMMITMENTS AND CONTINGENCIES (Details Textual) $ in Millions			3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 06, 2012	Aug. 03, 2012	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 CAD ($)	Dec. 31, 2017 CAD ($)
Loss Contingencies [Line Items]
Legal settlement expense			$ 0	$ 4,009,000	$ 0	$ 4,009,000
Percentage of defense costs which will be covered by insurance					50.00%
Receivable			0		$ 0		$ 212,000
First Lawsuit by AGF
Loss Contingencies [Line Items]
Lawsuit filing date		On August 3, 2012, AGF Management Limited and AGF Investments Inc. (collectively, “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”).
One-time litigation payment								$ 10.0
Legal settlement expense							4,000,000	$ 5.0
Insurance proceeds					4,000,000
Receivable			$ 0		$ 0		$ 4,000,000		$ 5.0
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 Westwood International.

SEGMENT REPORTING (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Dec. 31, 2017

Segment Reporting Information [Line Items]

ReconciliationFromNetIncomeToNonGaapMeasure [Table Text Block]

The following tables provide a reconciliation of Net income to Economic Earnings (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Net income	$	5,368	$	4,132	$	21,338	$	17,092
Add: Stock-based compensation expense	3,695		4,233		11,658		12,298
Add: Intangible amortization	419		469		1,255		1,449
Add: Tax benefit from goodwill amortization	59		156		177		469
Economic Earnings	$	9,541	$	8,990	$	34,428	$	31,308

Net fee revenues from external sources

$ 29,214

$ 33,192

$ 95,228

$ 98,606

Net intersegment revenues

Net interest and dividend revenue

239

154

616

458

Other, net

401

146

337

807

Total revenues

29,854

33,492

96,181

99,871

Economic Earnings

9,541

8,990

34,428

31,308

Intangible amortization

419

469

1,255

1,449

Deferred taxes on goodwill

156

177

469

Net income

5,368

4,132

21,338

17,092

Segment assets

192,627

191,362

192,627

191,362

$ 192,659

Segment goodwill

19,804

27,144

19,804

27,144

$ 27,144

Operating Segments | Advisory

Segment Reporting Information [Line Items]

Net fee revenues from external sources

22,023

25,334

72,963

75,036

Net intersegment revenues

1,756

2,026

5,639

6,050

Net interest and dividend revenue

187

111

464

391

Other, net

389

157

331

811

Total revenues

24,355

27,628

79,397

82,288

Economic Earnings

10,553

8,786

37,463

31,372

Segment assets

220,138

208,444

220,138

208,444

Segment goodwill

3,403

5,219

3,403

5,219

Operating Segments | Trust

Segment Reporting Information [Line Items]

Net fee revenues from external sources

7,191

7,858

22,265

23,570

Net intersegment revenues

171

160

Net interest and dividend revenue

152

Other, net

(11)

(4)

Total revenues

7,313

7,947

22,594

23,793

Economic Earnings

1,357

1,560

4,034

4,528

Segment assets

60,658

73,170

60,658

73,170

Segment goodwill

16,401

21,925

16,401

21,925

Westwood Holdings

Segment Reporting Information [Line Items]

Net fee revenues from external sources

Net intersegment revenues

Net interest and dividend revenue

Other, net

Total revenues

Economic Earnings

(2,369)

(1,356)

(7,069)

(4,592)

Segment assets

16,839

18,388

16,839

18,388

Segment goodwill

Eliminations

Segment Reporting Information [Line Items]

Net fee revenues from external sources

Net intersegment revenues

(1,814)

(2,083)

(5,810)

(6,210)

Net interest and dividend revenue

Other, net

Total revenues

(1,814)

(2,083)

(5,810)

(6,210)

Economic Earnings

Segment assets

(105,008)

(108,640)

(105,008)

(108,640)

Segment goodwill

Restricted Stock

Segment Reporting Information [Line Items]

Allocated Share-based Compensation Expense

$ 3,695

$ 4,233

$ 11,658

$ 12,298

SUBSEQUENT EVENTS (Details Textual) - $ / shares				3 Months Ended		9 Months Ended
SUBSEQUENT EVENTS (Details Textual) - $ / shares	Jan. 02, 2019	Dec. 07, 2018	Oct. 24, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Subsequent Event [Line Items]
Dividends declared per share (dollars per share)				$ 0.68	$ 0.62	$ 2.04	$ 1.86
Quarterly Dividend Rate Increase				0.00%		0.00%
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared per share (dollars per share)			$ 0.72
Dividends payable, date to be paid	Jan. 02, 2019
Dividends payable, date of record		Dec. 07, 2018

SEGMENT REPORTING (Details Textual)	9 Months Ended
SEGMENT REPORTING (Details Textual)	Sep. 30, 2018 Segment
Segment Reporting [Abstract]
Number of operating segments	2