0001165002-21-000044 | 10-Q | XBRL Viewer | Westwood Holdings Group INC

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	Apr. 23, 2021
Document And Entity Information [Abstract]
Document Transition Report	false
Document Quarterly Report	true
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2969997
Entity Address, Address Line One	200 CRESCENT COURT, SUITE 1200
Title of 12(b) Security	Common stock, par value $0.01 per share
Entity Registrant Name	WESTWOOD HOLDINGS GROUP, INC.
City Area Code	214
Local Phone Number	756-6900
Entity Central Index Key	0001165002
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Entity File Number	1-31234
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		8,296,956
Entity Emerging Growth Company	false
Trading Symbol	WHG
Security Exchange Name	NYSE
Entity Address, City or Town	DALLAS,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75201
Entity Small Business	true
Entity Filer Category	Non-accelerated Filer

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Operating Lease, Liability, Current		$ 1,420,000	$ 1,718,000
Current Assets:
Cash and cash equivalents		12,989,000	13,016,000
Accounts receivable		11,744,000	9,450,000
Investments, at fair value		73,880,000	69,542,000
Income Taxes Receivable, Current		336,000	1,700,000
Other current assets		2,588,000	2,606,000
Total current assets		101,537,000	96,314,000
Long-term Investments		4,455,000	8,154,000
Long-term Investments Carried at Fair Value		3,981,000	3,527,000
Goodwill		16,401,000	16,401,000
Deferred income taxes		1,418,000	1,468,000
Operating lease right-of-use assets		5,796,000	6,103,000
Intangible assets, net		13,129,000	13,535,000
Property and equipment, net of accumulated depreciation of $8,099 and $8,056		2,488,000	3,186,000
Other long-term assets		459,000	464,000
Total assets		149,664,000	149,152,000
Current liabilities:
Accounts payable and accrued liabilities		2,431,000	1,627,000
Dividends payable		1,109,000	810,000
Compensation and benefits payable		2,426,000	7,448,000
Accrued stock repurchases		359,000	0
Income taxes payable		2,450,000	191,000
Total current liabilities		10,195,000	11,794,000
Accrued dividends		230,000	526,000
Operating Lease, Liability, Noncurrent		5,794,000	6,121,000
Liabilities, Noncurrent	$ 6,024,000		6,647,000
Total liabilities		16,219,000	18,441,000
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.01 par value, authorized 25,000,000 shares, issued 10,630,452 and outstanding 8,313,003 shares at March 31, 2021; issued 10,500,549 and outstanding 8,326,948 shares at December 31, 2020		107,000	105,000
Additional paid-in capital		211,988,000	210,268,000
Treasury stock, at cost - 2,317,449 shares at March 31, 2021; 2,173,559 shares at December 31, 2020		(80,255,000)	(77,967,000)
Retained earnings (accumulated deficit)		1,605,000	(1,695,000)
Total stockholders' equity		133,445,000	130,711,000
Total liabilities and stockholders' equity		$ 149,664,000	$ 149,152,000

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation	$ 7,144	$ 6,462
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	10,314,305	10,182,583
Common stock, shares outstanding	8,906,152	8,904,902
Treasury stock, shares	1,408,152	1,277,681
Long-term Investments Carried at Fair Value	$ 3,981	$ 3,527

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Realized Investment Gains (Losses)	$ 8,325	$ 0
REVENUES:
Other Revenue, Net	(155)	(384)
Total revenues	18,319	16,669
EXPENSES:
Employee compensation and benefits	11,548	12,668
Sales and marketing	230	478
Westwood mutual funds	391	515
Information technology	1,992	2,031
Professional services	1,317	1,193
General and administrative	2,072	2,306
Foreign Currency Transaction Gain (Loss), before Tax	0	(2,938)
Total expenses	17,550	16,253
Operating Income (Loss)	769	416
Net change in unrealized appreciation (depreciation) on private investments	(2,326)	(995)
Other Income	50	34
Income (loss) before income taxes	7,014	(1)
Income tax expense (benefit)	2,913	(1,103)
Net income	4,101	1,102
Other comprehensive income (loss):
Foreign currency translation adjustments	0	(3,242)
Total comprehensive income (loss)	$ 4,101	$ (2,140)
Earnings per share:
Basic (dollars per share)	$ 0.52	$ 0.13
Diluted (dollars per share)	$ 0.52	$ 0.13
Weighted average shares outstanding:
Basic (shares)	7,887,044	8,414,393
Diluted (shares)	7,917,390	8,458,473
Investment Income, Investment Expense	$ 196	$ 544
Asset Management [Member]
Revenue from Contract with Customer, Including Assessed Tax	10,450	11,102
Investment Performance [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,959	0
Fiduciary and Trust [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 6,065	$ 5,951

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]
BALANCE at Dec. 31, 2019	$ 130,711,000	$ 103	$ 203,441	$ (63,281)	$ (2,943)	$ 10,967
BALANCE, shares at Dec. 31, 2019		8,881,086
Net Income (Loss) Attributable to Parent	1,102,000
Foreign currency translation adjustments	(3,242,000)
Other Comprehensive Income (Loss), Net of Tax	(3,242)				(3,242)
Issuance of restricted stock, net of forfeitures, shares		241,533
Dividends declared	(3,903)					(3,903)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,616		2,616
Adjustments to Additional Paid in Capital, Other	213		213
Purchases of treasury stock, shares		(272,059)
Restricted stock returned for payment of taxes, shares		(43,045)
BALANCE at Mar. 31, 2020	138,389	$ 106	206,267	(69,965)	$ (6,185)	8,166
BALANCE, shares at Mar. 31, 2020		8,780,041
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	1,120			1,120
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 3	(3)
Treasury Stock, Value, Acquired, Cost Method	4,867			4,867
BALANCE at Dec. 31, 2020	$ 130,711,000	$ 105,000	210,268,000	(77,967,000)		(1,695,000)
BALANCE, shares at Dec. 31, 2020	8,904,902	8,326,948
Net Income (Loss) Attributable to Parent	$ 4,101,000
Foreign currency translation adjustments	0
Issuance of restricted stock, net of forfeitures, shares		129,905
Dividends declared	(801,000)					(801,000)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,722,000		1,722,000
Purchases of treasury stock, shares		(92,491)
Restricted stock returned for payment of taxes, shares		(51,359)
BALANCE at Mar. 31, 2021	$ 133,445,000	$ 107,000	211,988,000	(80,255,000)		$ 1,605,000
BALANCE, shares at Mar. 31, 2021	8,906,152	8,313,003
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	$ 884,000			884,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 2,000	$ (2,000)
Treasury Stock, Value, Acquired, Cost Method	$ 1,404,000			$ 1,404,000

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (dollars per share)	$ 0.1	$ 0.43

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) Attributable to Parent	$ 4,101	$ 1,102
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation	207	233
Amortization of intangible assets	406	423
Net change in unrealized (appreciation) depreciation on investments	2,432	1,133
Realized Investment Gains (Losses)	8,325	0
Stock based compensation expense	1,722	2,616
Deferred income taxes	40	(1,643)
Non-cash lease expense	307	305
Gain (Loss) on Disposition of Assets	(148)	0
Change in operating assets and liabilities:
Net (purchases) sales of trading securities	(4,444)	12,916
Accounts receivable	(2,295)	1,844
Other current assets	23	326
Accounts payable and accrued liabilities	803	(469)
Compensation and benefits payable	(5,026)	(7,356)
Income taxes payable	3,630	475
Other liabilities	(478)	(383)
Net Cash Provided by (Used in) Operating Activities	(7,045)	11,522
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment	9,258	0
Proceeds from Sale of Productive Assets	501	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(9)	(16)
Payments to Acquire Intangible Assets	(15)	0
Net Cash Provided by (Used in) Investing Activities	9,735	(16)
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchases of treasury stock	(1,045)	(3,947)
Payment for Repurchases of Stock for Benefit Plan	0	(697)
Restricted stock returned for payment of taxes	(884)	(1,120)
Cash dividends paid	(801)	(7,324)
Net Cash Provided by (Used in) Financing Activities	(2,730)	(13,088)
Effect of currency rate changes on cash	13	(3,068)
Net Change in Cash and Cash Equivalents	(27)	(4,650)
Cash and cash equivalents, beginning of period	13,016	49,766
Cash and cash equivalents, end of period	12,989	45,116
Supplemental cash flow information:
Cash paid during the period for income taxes	769	64
Accrued dividends	1,339	5,245
359000	359	$ 920
Long-term Investments	$ 4,455

DESCRIPTION OF THE BUSINESS	3 Months Ended
DESCRIPTION OF THE BUSINESS	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS	DESCRIPTION OF THE BUSINESS Westwood Holdings Group, Inc. (“Westwood”, “the Company”, “we”, “us” or “our”) was incorporated under the laws of the State of Delaware on December 12, 2001. Westwood manages investment assets and provides services for its clients through its wholly-owned subsidiaries, Westwood Management Corp. and Westwood Advisors, L.L.C. (referred to hereinafter together as “Westwood Management”), Westwood Trust and Westwood International Advisors Inc. (“Westwood International Advisors”). On July 27, 2020, Westwood’s Board of Directors approved the liquidation of Westwood International Advisors, which occurred effective September 30, 2020. Westwood Management provides investment advisory services to institutional clients, a family of mutual funds called the Westwood Funds®, other mutual funds, individual investors and clients of Westwood Trust. Prior to its liquidation, our wholly owned subsidiary, Westwood International Advisors, provided investment advisory services to institutional clients, the Westwood Funds®, other mutual funds, the UCITS Fund (which was liquidated in June 2020), individual investors and clients of Westwood Trust. Westwood Trust provides trust and custodial services and participation in self-sponsored common trust funds (“CTFs”) to institutions and high net worth individuals. Revenue is largely dependent on the total value and composition of assets under management ("AUM"). Accordingly, fluctuations in financial markets and in the composition of AUM impact our revenues and results of operations. Westwood Management is registered with the Securities and Exchange Commission ("SEC") as an investment advisor ("RIA") under the Investment Advisers Act of 1940. Westwood Trust is chartered and regulated by the Texas Department of Banking.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	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 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, 2020, 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 December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects of the income tax accounting guidance, including interim-period accounting for enacted changes in tax law. ASU 2019-12 is effective for public business entities for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years, and early adoption is permitted. We adopted this ASU as of January 1, 2021 and it did not have a significant effect on our Condensed Consolidated Financial Statements.

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

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

Our strategic investment in InvestCloud, discussed in Note 5 “Investments,” is excluded from the recurring fair value table shown below because we have elected to apply the measurement alternative for this investment.

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 March 31, 2021:
Investments in trading securities	$	73,880	$	—	$	—	$	—	$	73,880
Private investment fund	—		—		—		109		109
Private equity	—		—		3,872		—		3,872
Total assets measured at fair value	$	73,880	$	—	$	3,872	$	109	$	77,861

As of December 31, 2020:
Investments in trading securities	$	69,542	$	—	$	—	$	—	$	69,542
Private investment fund	—		—		—		96		96
Private equity	—		—		3,431		—		3,431
Total assets measured at fair value	$	69,542	$	—	$	3,431	$	96	$	73,069

(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.

Our investment in Charis is included within Level 3 of the fair value hierarchy as we value that investment utilizing inputs not observable in the market. Our investment is measured at fair value on a recurring basis using a market approach based on a price to tangible book value multiple range that is determined to be reasonable in the current environment, or market transactions. Management believes this valuation methodology is consistent with the banking industry and we will reevaluate our methodology and inputs on a quarterly basis.

The following table summarizes the changes in Level 3 investments measured at fair value on a recurring basis for the periods presented (in thousands):


	Fair Value using Significant Unobservable Inputs (Level 3)
	Three Months Ended March 31,
	2021		2020
Beginning balance	$	3,431	$	3,975



Unrealized gains (losses) on private investments	441		(995)
Ending balance	$	3,872	$	2,980

- 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

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
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 most recent annual goodwill impairment assessment during the third quarter of 2020, and recorded $3.4 million of impairment expense related to our Advisory segment. No impairments on goodwill were recorded during the three months ended March 31, 2021 or 2020. 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 intangible asset impairments were recorded during the three months ended March 31, 2021 or 2020.

REVENUE (Notes)

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer, Excluding Assessed Tax

REVENUE

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 AUM 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 Advisors (prior to its closure, effective September 30, 2020), which manage client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and are paid in accordance with the terms of the agreements. Advisory fees are paid quarterly in advance based on AUM on the last day of the preceding quarter, quarterly in arrears based on AUM on the last day of the quarter just ended or are based on a daily or monthly analysis of AUM 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. The UCITS Fund was liquidated in June 2020.

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 wealth management 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, and a limited number of our mutual fund offerings have fees that generate additional revenues if we outperform specified indices over specific periods of time.

The revenue is based on future market performance and is subject 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 AUM. 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 AUM for the quarter, or monthly, based on the month-end value of AUM. 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 contain no deferred advisory 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 March 31,
	2021		2020
Advisory Fees:
Institutional	$	8,858	$	7,900
Mutual Funds	3,414		3,071
Wealth Management	137		131

Trust Fees	6,065		5,951

Other, net	(155)		(384)
Total revenues	$	18,319	$	16,669

We serve clients primarily in the United States, but also in various locations around the world. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands):


Three Months Ended March 31, 2021	Advisory		Trust		Performance-based		Other		Total


Canada	$	276	$	—	$	—	$	—	$	276
Europe	638		—		262		—		900
United States	9,546		6,065		1,687		(155)		17,143
Total	$	10,460	$	6,065	$	1,949	$	(155)	$	18,319


Three Months Ended March 31, 2020	Advisory		Trust		Performance-based		Other		Total
Asia	$	417	$	—	$	—	$	—	$	417

Canada	490		—		—		—		490
Europe	1,009		—		—		—		1,009
United States	9,186		5,951		—		(384)		14,753
Total	$	11,102	$	5,951	$	—	$	(384)	$	16,669

INCOME TAXES (Notes)	3 Months Ended
INCOME TAXES (Notes)	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	INCOME TAXESOur effective income tax rate differed from the 21% statutory rate for the first quarter of 2021 and 2020 due to permanent differences between book and tax restricted stock expense based on a decrease in our stock price between the restricted stock grant and vesting dates. In addition, in

RELATED PARTY TRANSACTIONS	3 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2021
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 both the three months ended March 31, 2021 and March 31, 2020, we recorded trust fees from these accounts of $0.1 million. There were no amounts due from these accounts as of March 31, 2021, and there was $0.1 million due from these accounts as of December 31, 2020. The Company engages in transactions with its affiliates in the ordinary course of business. Westwood International Advisors (prior to its closure, effective September 30, 2020) and Westwood Management provide investment advisory services to the UCITS Fund and the Westwood Funds®. Certain members of our management served on the board of directors of the UCITS Fund (liquidated as of June 2020). 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 AUM. The Company earned no fees from the affiliated funds for the three months ended March 31, 2021, and earned $0.5 million for the three months ended March 31, 2020.

SEGMENT REPORTING

3 Months Ended

Mar. 31, 2021

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 (Loss). Refer to the "Supplemental Financial Information" section in Item 2. "Management Discussion and Analysis of Financial Conditions and Results" for the Economic Earnings (Loss) calculation. 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 (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 to the Westwood Funds®, funds offered by other financial institutions and funds offered by our Trust segment and (iii) pooled investment vehicles, including the UCITS Fund (liquidated in June 2020) and collective investment trusts. Westwood Management and Westwood International Advisors (prior to its closure, effective September 30, 2020), which provide investment advisory services to similar clients, are included in our Advisory segment.

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 March 31, 2021
Net fee revenues from external sources	$	12,409	$	6,065	$	—	$	—	$	18,474
Net intersegment revenues	676		81		—		(757)		—

Other, net	(155)		—		—		—		(155)
Total revenues	$	12,930	$	6,146	$	—	$	(757)	$	18,319

Segment assets	$	207,193	$	54,143	$	12,603	$	(124,275)	$	149,664
Segment goodwill	$	—	$	16,401	$	—	$	—	$	16,401

Three Months Ended March 31, 2020
Net fee revenues from external sources	$	11,102	$	5,951	$	—	$	—	$	17,053
Net intersegment revenues	624		50		—		(674)		—
Net interest and dividend revenue	20		—		—		—		20
Other, net	(404)		—		—		—		(404)
Total revenues	$	11,342	$	6,001	$	—	$	(674)	$	16,669

Segment assets	$	236,817	$	49,606	$	21,962	$	(150,583)	$	157,802
Segment goodwill	$	3,403	$	16,401	$	—	$	—	$	19,804

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2021
Subsequent Event [Line Items]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2021
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.
Revenue [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 AUM 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 Advisors (prior to its closure, effective September 30, 2020), which manage client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and are paid in accordance with the terms of the agreements. Advisory fees are paid quarterly in advance based on AUM on the last day of the preceding quarter, quarterly in arrears based on AUM on the last day of the quarter just ended or are based on a daily or monthly analysis of AUM 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. The UCITS Fund was liquidated in June 2020. 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 wealth management 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, and a limited number of our mutual fund offerings have fees that generate additional revenues if we outperform specified indices over specific periods of time. The revenue is based on future market performance and is subject 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 AUM. 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 AUM for the quarter, or monthly, based on the month-end value of AUM. 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 contain no deferred advisory 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 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, 2020, 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 December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects of the income tax accounting guidance, including interim-period accounting for enacted changes in tax law. ASU 2019-12 is effective for public business entities for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years, and early adoption is permitted. We adopted this ASU as of January 1, 2021 and it did not have a significant effect on our Condensed Consolidated Financial Statements.

EARNINGS PER SHARE Policies (Policies)	3 Months Ended
EARNINGS PER SHARE Policies (Policies)	Mar. 31, 2021
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)	3 Months Ended
VARIABLE INTEREST ENTITIES Policies (Policies)	Mar. 31, 2021
Variable Interest Entities [Abstract]
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Based on our analyses of our investments in these entities for the periods ended March 31, 2021 and December 31, 2020, we have not consolidated the CTFs or Private Funds under the VIE method or the Westwood Funds® or Private Equity under the VOE method.

REVENUE Policies (Policies)	3 Months Ended
REVENUE Policies (Policies)	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue [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 AUM 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 Advisors (prior to its closure, effective September 30, 2020), which manage client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and are paid in accordance with the terms of the agreements. Advisory fees are paid quarterly in advance based on AUM on the last day of the preceding quarter, quarterly in arrears based on AUM on the last day of the quarter just ended or are based on a daily or monthly analysis of AUM 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. The UCITS Fund was liquidated in June 2020. 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 wealth management 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, and a limited number of our mutual fund offerings have fees that generate additional revenues if we outperform specified indices over specific periods of time. The revenue is based on future market performance and is subject 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 AUM. 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 AUM for the quarter, or monthly, based on the month-end value of AUM. 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 contain no deferred advisory fee revenues.

EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31,
	2021		2020
Net income	$	4,101	$	1,102

Weighted average shares outstanding - basic	7,887,044		8,414,393
Dilutive potential shares from unvested restricted shares	30,346		44,080

Weighted average shares outstanding - diluted	7,917,390		8,458,473

Earnings per share:
Basic	$	0.52	$	0.13
Diluted	$	0.52	$	0.13

INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Investment Balances

Investments carried at fair value are presented in the table below (in thousands):


	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
March 31, 2021:
U.S. Government and Government agency obligations	$	59,722	$	—	$	(298)	$	59,424
Money market funds	12,552		—		—		12,552
Equity funds	95		—		—		95
Equities	307		114		—		421
Exchange-traded bond funds	1,394		—		(6)		1,388
Total trading securities	74,070		114		(304)		73,880
Private investment fund	265		—		(156)		109
Private equity	3,420		452		—		3,872
Total investments carried at fair value	$	77,755	$	566	$	(460)	$	77,861

December 31, 2020:
U.S. Government and Government agency obligations	$	65,132	$	2	$	(180)	$	64,954
Money market funds	4,003		—		—		4,003
Equity funds	90		—		(5)		85
Equities	288		94		—		382
Exchange-traded bond funds	115		3		—		118
Total trading securities	69,628		99		(185)		69,542
Private investment fund	250		—		(154)		96
Private equity	3,420		11		—		3,431
Total investments carried at fair value	$	73,298	$	110	$	(339)	$	73,069

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

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 March 31, 2021:
Investments in trading securities	$	73,880	$	—	$	—	$	—	$	73,880
Private investment fund	—		—		—		109		109
Private equity	—		—		3,872		—		3,872
Total assets measured at fair value	$	73,880	$	—	$	3,872	$	109	$	77,861

As of December 31, 2020:
Investments in trading securities	$	69,542	$	—	$	—	$	—	$	69,542
Private investment fund	—		—		—		96		96
Private equity	—		—		3,431		—		3,431
Total assets measured at fair value	$	69,542	$	—	$	3,431	$	96	$	73,069

(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.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table summarizes the changes in Level 3 investments measured at fair value on a recurring basis for the periods presented (in thousands):


	Fair Value using Significant Unobservable Inputs (Level 3)
	Three Months Ended March 31,
	2021		2020
Beginning balance	$	3,431	$	3,975



Unrealized gains (losses) on private investments	441		(995)
Ending balance	$	3,872	$	2,980

VARIABLE INTEREST ENTITIES (Tables)

3 Months Ended

Mar. 31, 2021

Variable Interest Entities [Abstract]

Variable Interest Entities

The following table displays the AUM and the risk of loss in each vehicle (in millions):


	As of March 31, 2021
	Assets Under Management		Corporate Investment		Amount at Risk
VIEs/VOEs:
Westwood Funds®	$	2,564	$	—	$	—
Common Trust Funds	1,014		—		—

Private Funds	4		0.1		0.1
Private Equity	—		8.3		8.3
All other assets:
Wealth Management	3,342
Institutional	7,569
Total Assets Under Management	$	14,493

- 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)

3 Months Ended

Mar. 31, 2021

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 March 31,
	2021		2020
Advisory Fees:
Institutional	$	8,858	$	7,900
Mutual Funds	3,414		3,071
Wealth Management	137		131

Trust Fees	6,065		5,951

Other, net	(155)		(384)
Total revenues	$	18,319	$	16,669

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 March 31, 2021	Advisory		Trust		Performance-based		Other		Total


Canada	$	276	$	—	$	—	$	—	$	276
Europe	638		—		262		—		900
United States	9,546		6,065		1,687		(155)		17,143
Total	$	10,460	$	6,065	$	1,949	$	(155)	$	18,319


Three Months Ended March 31, 2020	Advisory		Trust		Performance-based		Other		Total
Asia	$	417	$	—	$	—	$	—	$	417

Canada	490		—		—		—		490
Europe	1,009		—		—		—		1,009
United States	9,186		5,951		—		(384)		14,753
Total	$	11,102	$	5,951	$	—	$	(384)	$	16,669

LONG-TERM INCENTIVE COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2021

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

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.

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 March 31,
	2021		2020
Service condition stock-based compensation expense	$	1,491	$	2,067
Performance condition stock-based compensation expense	231		419
Stock-based compensation expense under the Plan	1,722		2,486
Canadian Plan stock-based compensation expense	—		130
Total stock-based compensation expense	$	1,722	$	2,616

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.

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 three months ended March 31, 2021:


	Shares	Weighted Average Grant Date Fair Value
Non-vested, January 1, 2020	396,598	$	48.31
Granted	262,373	$	27.39
Vested	(140,974)	$	53.06
Forfeited	(26,372)	$	39.72
Non-vested, March 31, 2021	491,625	$	36.25

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 three months ended March 31, 2021:


	Shares	Weighted Average Grant Date Fair Value
Non-vested, January 1, 2020	80,975	$	49.73

Vested	(35,275)	$	55.11
Non-vested, March 31, 2021	45,700	$	45.58

SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

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


(in thousands)	Advisory		Trust		Westwood Holdings		Eliminations		Consolidated
Three Months Ended March 31, 2021
Net fee revenues from external sources	$	12,409	$	6,065	$	—	$	—	$	18,474
Net intersegment revenues	676		81		—		(757)		—

Other, net	(155)		—		—		—		(155)
Total revenues	$	12,930	$	6,146	$	—	$	(757)	$	18,319

Segment assets	$	207,193	$	54,143	$	12,603	$	(124,275)	$	149,664
Segment goodwill	$	—	$	16,401	$	—	$	—	$	16,401

Three Months Ended March 31, 2020
Net fee revenues from external sources	$	11,102	$	5,951	$	—	$	—	$	17,053
Net intersegment revenues	624		50		—		(674)		—
Net interest and dividend revenue	20		—		—		—		20
Other, net	(404)		—		—		—		(404)
Total revenues	$	11,342	$	6,001	$	—	$	(674)	$	16,669

Segment assets	$	236,817	$	49,606	$	21,962	$	(150,583)	$	157,802
Segment goodwill	$	3,403	$	16,401	$	—	$	—	$	19,804

DESCRIPTION OF THE BUSINESS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Gain (Loss) on Disposition of Assets	$ (148)	$ 0

EARNINGS PER SHARE (Details Textual) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive restricted shares	234	131

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Computation of Basic and Diluted Shares
Net Income (Loss) Attributable to Parent	$ 4,101	$ 1,102
Weighted average shares outstanding - basic (shares)	7,887,044	8,414,393
Dilutive potential shares from unvested restricted shares (shares)	30,346	44,080
Weighted average shares outstanding - diluted (shares)	7,917,390	8,458,473
Earnings per share:
Basic (dollars per share)	$ 0.52	$ 0.13
Diluted (dollars per share)	$ 0.52	$ 0.13

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

INVESTMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
INVESTMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	$ 74,070		$ 69,628
Gross Unrealized Gains	114		99
Gross Unrealized Losses	(304)		(185)
Debt Securities, Trading	73,880		69,542
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	77,755		73,298
Gross Unrealized Gains	566		110
Gross Unrealized Losses	(460)		(339)
Estimated Fair Value	77,861		73,069
Net change in unrealized appreciation (depreciation) on private investments	(2,326)	$ (995)	2,800
Unrealized Gain on Securities			400
Investments carried at fair value, unrealized loss	(1,000)
U.S. Government and Government agency obligations
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	59,722		65,132
Gross Unrealized Gains	0		2
Gross Unrealized Losses	(298)		(180)
Debt Securities, Trading	59,424		64,954
Money market funds
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	12,552		4,003
Gross Unrealized Gains	0		0
Gross Unrealized Losses	0		0
Debt Securities, Trading	12,552		4,003
Equity funds
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	95		90
Gross Unrealized Gains	0		0
Gross Unrealized Losses	0		(5)
Debt Securities, Trading	95		85
Private investment fund
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	265		250
Gross Unrealized Gains	0		0
Gross Unrealized Losses	(156)		(154)
Estimated Fair Value	109		96
Private equity
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	3,420		3,420
Gross Unrealized Gains	452		11
Gross Unrealized Losses	0		0
Estimated Fair Value	3,872		3,431
Equity Securities
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	307		288
Gross Unrealized Gains	114		94
Gross Unrealized Losses	0		0
Debt Securities, Trading	421		382
us-gaap_EquitySecuritiesMember [Member]
Debt Securities, Trading, Gain (Loss) [Abstract]
Cost	1,394		115
Gross Unrealized Gains	0		3
Gross Unrealized Losses	(6)		0
Debt Securities, Trading	$ 1,388		$ 118

INVESTMENTS (Details Textual) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
INVESTMENTS (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2020	Feb. 28, 2019	May 31, 2018
Schedule of Investments [Line Items]
Long-term Investments	$ 4,455			$ 8,154	$ 300	$ 5,400
Estimated Fair Value	77,861			73,069
Unrealized Gain on Securities				400
Cost	74,070			69,628
Realized Investment Gains (Losses)	8,325	$ 0	$ 0
us-gaap_EquitySecuritiesMember [Member]
Schedule of Investments [Line Items]
Cost	$ 1,394			$ 115

FAIR VALUE MEASUREMENTS (Details)	3 Months Ended
FAIR VALUE MEASUREMENTS (Details)	Mar. 31, 2021 USD ($) $ / shares	Mar. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Feb. 28, 2019 USD ($)	May 31, 2018 USD ($)
Investments in securities:
Investments in trading securities	$ 73,880,000		$ 69,542,000
Total assets measured at fair value	77,861,000		73,069,000
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	3,431,000	$ 3,975,000
Unrealized gains (losses) on private investments	441,000	(995,000)
Ending balance	$ 3,872,000	$ 2,980,000
Fair Value Inputs [Abstract] (Deprecated 2018-01-31)
Unobservable input -book value multiple - minimum \| $ / shares	1.26
Unobservable input -book value multiple - maximum	2.29
Unobservable input -book value multiple - weighted average	1.45
Long-term Investments	$ 4,455,000		8,154,000	$ 300,000	$ 5,400,000
Level 1
Investments in securities:
Investments in trading securities	73,880,000		69,542,000
Total assets measured at fair value	73,880,000		69,542,000
Level 2
Investments in securities:
Investments in trading securities	0		0
Total assets measured at fair value	0		0
Level 3
Investments in securities:
Investments in trading securities	0		0
Total assets measured at fair value	3,872,000		3,431,000
Investments Measured at NAV
Investments in securities:
Investments in trading securities	0		0
Total assets measured at fair value	109,000		96,000
Private investment fund
Investments in securities:
Private	109,000		96,000
Private investment fund \| Level 1
Investments in securities:
Private	0		0
Private investment fund \| Level 2
Investments in securities:
Private	0		0
Private investment fund \| Level 3
Investments in securities:
Private	0		0
Private investment fund \| Investments Measured at NAV
Investments in securities:
Private	109,000		96,000
Private equity
Investments in securities:
Private	3,872,000		3,431,000
Private equity \| Level 1
Investments in securities:
Private	0		0
Private equity \| Level 2
Investments in securities:
Private	0		0
Private equity \| Level 3
Investments in securities:
Private	3,872,000		3,431,000
Private equity \| Investments Measured at NAV
Investments in securities:
Private	$ 0		$ 0

GOODWILL AND OTHER INTANGIBLE ASSETS (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Impairment Loss		$ 3,400,000
Impairment of Intangible Assets (Excluding Goodwill)	$ 0		$ 0

STOCKHOLDERS' EQUITY Share Repurchase Program (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Apr. 27, 2020	Dec. 31, 2017
Equity [Abstract]
Stock Repurchase Program, Authorized Amount			$ 10.0	$ 10,000,000.0
Treasury Stock Acquired, Average Cost Per Share	$ 15.19	$ 17.89
Foreign currency translation adjustments	$ 0	$ (3,242,000)
Stock Repurchased and Retired During Period, Shares	92,491	272,059
Treasury Stock, Value, Acquired, Par Value Method	$ 1,400,000	$ 4,900,000

VARIABLE INTEREST ENTITIES (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Variable Interest Entity [Line Items]
Estimated Fair Value	$ 77,861		$ 73,069
Fee revenues from Westwood VIEs	4,900	$ 5,700
Common Trust Funds
Variable Interest Entity [Line Items]
Estimated Fair Value	$ 0

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Variable Interest Entities
Assets Under Management	$ 14,493,000
Estimated Fair Value	77,861	$ 73,069
Westwood Funds®
Variable Interest Entities
Assets Under Management	2,564,000
Estimated Fair Value	0
Amount at Risk	0
Common Trust Funds
Variable Interest Entities
Assets Under Management	1,014,000
Estimated Fair Value	0
Amount at Risk	0
Westwood Hospitality Fund I LLC [Member]
Variable Interest Entities
Assets Under Management	4,000
Estimated Fair Value	100
Amount at Risk	100
Private equity
Variable Interest Entities
Assets Under Management	0
Estimated Fair Value	8,300
Amount at Risk	8,300
Wealth Management
Variable Interest Entities
Assets Under Management	3,342,000
Institutional
Variable Interest Entities
Assets Under Management	$ 7,569,000

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

3 Months Ended

Mar. 31, 2021

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer, Excluding Assessed Tax

REVENUE

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 March 31,
	2021		2020
Advisory Fees:
Institutional	$	8,858	$	7,900
Mutual Funds	3,414		3,071
Wealth Management	137		131

Trust Fees	6,065		5,951

Other, net	(155)		(384)
Total revenues	$	18,319	$	16,669


Three Months Ended March 31, 2021	Advisory		Trust		Performance-based		Other		Total


Canada	$	276	$	—	$	—	$	—	$	276
Europe	638		—		262		—		900
United States	9,546		6,065		1,687		(155)		17,143
Total	$	10,460	$	6,065	$	1,949	$	(155)	$	18,319


Three Months Ended March 31, 2020	Advisory		Trust		Performance-based		Other		Total
Asia	$	417	$	—	$	—	$	—	$	417

Canada	490		—		—		—		490
Europe	1,009		—		—		—		1,009
United States	9,186		5,951		—		(384)		14,753
Total	$	11,102	$	5,951	$	—	$	(384)	$	16,669

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ 18,319

$ 16,669

Asia [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

417

Canada

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

276

490

Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

900

1,009

United States [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

17,143

14,753

Investment Advisory Services [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

10,460

11,102

Investment Advisory Services [Member] | Asia [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

417

Investment Advisory Services [Member] | Canada

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

276

490

Investment Advisory Services [Member] | Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

638

1,009

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

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

9,546

9,186

Investment Advisory Services [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

8,858

7,900

Mutual Fund Advisory [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

3,414

3,071

Private Wealth Advisory [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

137

131

Performance-based fees [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

1,949

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

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

262

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

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

1,687

Trust Fees [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

6,065

5,951

Trust Fees [Member] | Asia [Member]

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

6,065

5,951

Trust Fees [Member] | Trust

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

6,065

5,951

Other Revenue Misc Services [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(155)

(384)

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] | Canada

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

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

(155)

(384)

Other Revenue Misc Services [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ (155)

$ (384)

LONG-TERM INCENTIVE COMPENSATION (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount of shares purchased in the open market	$ 1,045,000	$ 3,947,000
Remaining unrecognized compensation cost recognized over a remaining weighted average period	2 years 6 months
Accrued liability	$ 50,000		$ 79,000
Shares Issued, Shares, Share-based Payment Arrangement, Forfeited	56,625
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures	$ 1,300,000
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Anti-dilutive restricted shares	234,000	131,000
Mutual Fund [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expense related to mutual fund share incentive awards	$ 27,000	$ (100,000)
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)	5,398,100
Shares remain available for issuance	642,000
Remaining unrecognized compensation cost	$ 13,200,000
Nonvested restricted shares	491,625		396,598
Expense related to mutual fund share incentive awards	$ 1,722,000	2,616,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	350,000
Canadian Plan \| Westwood International Advisors Inc
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount of shares purchased in the open market	$ 700,000
Purchases of treasury stock, shares	27,474
Mutual Fund Share Incentive Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service period of mutual fund share incentive award	3 years
Expense related to mutual fund share incentive awards	$ 9,000	$ 12,000

LONG-TERM INCENTIVE COMPENSATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
DomesticEmployeeServiceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 1,491	$ 2,067
Performance Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	231	419
DomesticServiceAndPerformanceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	1,722	2,486
CanadianEmployeeServiceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	0	130
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 1,722	$ 2,616

LONG-TERM INCENTIVE COMPENSATION (Details 1) - Restricted Shares Subject Only to a Service Condition	3 Months Ended
	Mar. 31, 2021 $ / shares shares
Restricted shares subject only to a service condition:
Non-vested, beginning balance, shares \| shares	396,598
Granted (shares) \| shares	262,373
Vested (shares) \| shares	(140,974)
Forfeited (shares) \| shares	(26,372)
Non-vested, ending balance, shares \| shares	491,625
Non-vested, beginning balance, (dollars per share) \| $ / shares	$ 48.31
Granted (dollars per share) \| $ / shares	27.39
Vested (dollars per share) \| $ / shares	53.06
Forfeited (dollars per share) \| $ / shares	39.72
Non-vested, ending balance, (dollars per share) \| $ / shares	$ 36.25

LONG-TERM INCENTIVE COMPENSATION (Details 2) - Restricted Shares Subject to Service and Performance Conditions	3 Months Ended
	Mar. 31, 2021 $ / shares shares
Restricted shares subject only to a service condition:
Non-vested, beginning balance, shares \| shares	80,975
Vested (shares) \| shares	(35,275)
Non-vested, ending balance, shares \| shares	45,700
Non-vested, beginning balance, (dollars per share) \| $ / shares	$ 49.73
Vested (dollars per share) \| $ / shares	55.11
Non-vested, ending balance, (dollars per share) \| $ / shares	$ 45.58

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2021
UCITS Fund
Related Party Transaction [Line Items]
Fees earned from related party	$ 500
Trust
Related Party Transaction [Line Items]
Due from related party		$ 100
Fees earned from related party	$ 100

SEGMENT REPORTING (Details Textual)	3 Months Ended
SEGMENT REPORTING (Details Textual)	Mar. 31, 2021 Segment
Segment Reporting [Abstract]
Number of operating segments	2

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	3 Months Ended
SEGMENT REPORTING (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net fee revenues from external sources	$ 18,474	$ 17,053
Net intersegment revenues	0	0
Net interest and dividend revenue		20
Other, net	(155)	(404)
Total revenues	18,319	16,669
Segment assets	149,664	157,802	$ 149,152
Goodwill	16,401	19,804	$ 16,401
Operating Segments \| Advisory
Segment Reporting Information [Line Items]
Net fee revenues from external sources	12,409	11,102
Net intersegment revenues	676	624
Net interest and dividend revenue		20
Other, net	(155)	(404)
Total revenues	12,930	11,342
Segment assets	207,193	236,817
Goodwill	0	3,403
Operating Segments \| Trust
Segment Reporting Information [Line Items]
Net fee revenues from external sources	6,065	5,951
Net intersegment revenues	81	50
Net interest and dividend revenue		0
Other, net	0	0
Total revenues	6,146	6,001
Segment assets	54,143	49,606
Goodwill	16,401	16,401
Westwood Holdings
Segment Reporting Information [Line Items]
Net fee revenues from external sources	0	0
Net intersegment revenues	0	0
Net interest and dividend revenue		0
Other, net	0	0
Total revenues	0	0
Segment assets	12,603	21,962
Goodwill	0	0
Eliminations
Segment Reporting Information [Line Items]
Net fee revenues from external sources	0	0
Net intersegment revenues	(757)	(674)
Net interest and dividend revenue		0
Other, net	0	0
Total revenues	(757)	(674)
Segment assets	(124,275)	(150,583)
Goodwill	$ 0	$ 0

SUBSEQUENT EVENTS (Details Textual) - USD ($)	3 Months Ended
SUBSEQUENT EVENTS (Details Textual) - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Apr. 27, 2020	Dec. 31, 2017
Subsequent Event [Line Items]
Dividends declared per share (dollars per share)	$ 0.1	$ 0.43
Stock Repurchase Program, Authorized Amount			$ 10.0	$ 10,000,000.0