0001165002-23-000057 | 10-Q | XBRL Viewer | Westwood Holdings Group INC

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Operating Lease, Liability, Current		$ 1,519,000	$ 1,502,000
Current Assets:
Cash and cash equivalents		16,751,000	23,859,000
Accounts receivable		15,185,000	13,900,000
Investments, at fair value		15,594,000	15,342,000
Income Taxes Receivable, Current		0	446,000
Other current assets		5,272,000	4,645,000
Total current assets		52,802,000	58,192,000
Long-term Investments		4,455,000	4,455,000
Long-term Investments Carried at Fair Value		3,044,000	3,027,000
Goodwill		39,929,000	35,732,000
Deferred income taxes		1,898,000	1,762,000
Operating lease right-of-use assets		4,679,000	4,976,000
Intangible assets, net		27,931,000	28,952,000
Property and equipment, net of accumulated depreciation of $9,578 and $9,277		1,876,000	1,828,000
Other long-term assets		957,000	929,000
Total assets		141,799,000	146,427,000
Current liabilities:
Accounts payable and accrued liabilities		6,715,000	5,678,000
Dividends payable		1,457,000	1,745,000
Compensation and benefits payable		3,073,000	8,689,000
Income taxes payable		435,000	0
Total current liabilities		13,199,000	17,614,000
Accrued dividends		515,000	701,000
Operating Lease, Liability, Noncurrent		4,374,000	4,563,000
Liabilities, Noncurrent	$ 16,730,000		18,165,000
Total liabilities		29,929,000	35,779,000
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.01 par value, authorized 25,000,000 shares, issued 11,925,846 and outstanding 9,212,390 shares at March 31, 2023; issued 11,527,544 and outstanding 8,881,811 shares at December 31, 2022		119,000	115,000
Additional paid-in capital		200,453,000	199,914,000
Treasury stock, at cost - 2,713,456 shares at March 31, 2023; 2,645,713 shares at December 31, 2022		(85,965,000)	(85,128,000)
Retained earnings (accumulated deficit)		(3,752,000)	(4,253,000)
Total Westwood Holdings Group, Inc. stockholders’ equity		110,855,000	110,648,000
Stockholders' Equity, Total		111,870,000	110,648,000
Total liabilities and stockholders' equity		141,799,000	146,427,000
Equity Method Investments		4,228,000	6,574,000
Total long-term assets		88,997,000	88,235,000
Asset Acquisition, Contingent Consideration, Liability		11,841,000	12,901,000
Members' Equity Attributable to Noncontrolling Interest		$ 1,015,000	$ 0

EARNINGS PER SHARE (Details Textual) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive restricted shares	109	85

VARIABLE INTEREST ENTITIES (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Variable Interest Entity [Line Items]
Estimated Fair Value	$ 18,638		$ 18,369
Fee revenues from Westwood VIEs	8,000	$ 5,700
Investment Owned, at Fair Value			$ 2,417
Common Trust Funds
Variable Interest Entity [Line Items]
Estimated Fair Value	$ 0

LEASES (Textual) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 4,679	$ 4,976

LONG-TERM INCENTIVE COMPENSATION (Details 2) - Restricted Shares Subject to Service and Performance Conditions	3 Months Ended
	Mar. 31, 2023 $ / 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

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	Apr. 28, 2023
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
Entity Address, State or Province	TX
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
Entity File Number	1-31234
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
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		9,144,197
Entity Emerging Growth Company	false
Trading Symbol	WHG
Security Exchange Name	NYSE
Entity Address, Postal Zip Code	75201
Entity Small Business	true
Entity Filer Category	Non-accelerated Filer
Entity Address, City or Town	DALLAS,
Document Period End Date	Mar. 31, 2023

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 714	$ 50
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Nonredeemable	21
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized	209
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	693	50
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	714	50
REVENUES:
Other Revenue, Net	108	(289)
Total revenues	22,727	17,216
EXPENSES:
Employee compensation and benefits	14,202	10,334
Sales and marketing	740	482
Westwood mutual funds	732	596
Information technology	2,383	1,829
Professional services	1,529	1,520
General and administrative	1,986	2,040
Total expenses	21,781	16,801
Operating Income (Loss)	946	415
Net change in unrealized appreciation (depreciation) on private investments	0	37
Other Income	372	158
Income before income taxes	1,490	594
Income tax provision	776	544
Net income	693	50
Other comprehensive income (loss):
Total comprehensive income	$ 693	$ 50
Earnings per share:
Basic (dollars per share)	$ 0.09	$ 0.01
Diluted (dollars per share)	$ 0.09	$ 0.01
Weighted average shares outstanding:
Basic (shares)	7,853,921	7,865,174
Diluted (shares)	7,968,504	7,931,453
Investment Income, Investment Expense	$ 172	$ (16)
Asset Management [Member]
Revenue from Contract with Customer, Including Assessed Tax	17,033	11,790
Investment Performance [Member]
Revenue from Contract with Customer, Including Assessed Tax	555	0
Fiduciary and Trust [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 5,031	$ 5,715

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Computation of Basic and Diluted Shares
Net Income (Loss) Attributable to Parent	$ 693	$ 50
Weighted average shares outstanding - basic (shares)	7,853,921	7,865,174
Dilutive potential shares from unvested restricted shares (shares)	114,583	66,279
Weighted average shares outstanding - diluted (shares)	7,968,504	7,931,453
Earnings per share:
Basic (dollars per share)	$ 0.09	$ 0.01
Diluted (dollars per share)	$ 0.09	$ 0.01
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 693	$ 50

- 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

LONG-TERM INCENTIVE COMPENSATION (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount of shares purchased in the open market	$ 0	$ 200,000
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	109,000	85,000
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	$ 0	1,380,000
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

SEGMENT REPORTING

3 Months Ended

Mar. 31, 2023

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, a non-GAAP measurement. We define Economic Earnings as net income (loss) plus non-cash equity-based compensation expense, amortization of intangible assets and deferred taxes related to goodwill. Although depreciation on fixed assets is a non-cash expense, we do not add it back when calculating Economic Earnings because depreciation charges represent an allocation of the decline in the value of the related assets that will ultimately require replacement. In addition, we do not adjust Economic Earnings for tax deductions related to restricted stock expense or amortization of intangible assets.

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) sub-advisory 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 collective investment trusts. Westwood Management, Salient and Broadmark provide investment advisory services to similar clients and 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, 2023
Net fee revenues from external sources	$	17,588	$	5,031	$	—	$	—	$	22,619
Net intersegment revenues	1,662		77		—		(1,739)		—

Other, net	108		—		—		—		108
Total revenues	$	19,358	$	5,108	$	—	$	(1,739)	$	22,727

March 31, 2023 segment assets	$	256,946	$	51,502	$	16,616	$	(183,265)	$	141,799
March 31, 2023 segment goodwill	$	23,528	$	16,401	$	—	$	—	$	39,929

Three Months Ended March 31, 2022
Net fee revenues from external sources	$	11,790	$	5,715	$	—	$	—	$	17,505
Net intersegment revenues	577		90		—		(667)		—

Other, net	(289)		—		—		—		(289)
Total revenues	$	12,078	$	5,805	$	—	$	(667)	$	17,216

March 31, 2022 segment assets	$	222,545	$	57,913	$	12,876	$	(162,318)	$	131,016
March 31, 2022 segment goodwill	$	—	$	16,401	$	—	$	—	$	16,401

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

REVENUE Table (Tables)

3 Months Ended

Mar. 31, 2023

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,
	2023		2022
Advisory Fees:
Institutional	$	9,603	$	7,048
Mutual Funds	7,186		4,549
Wealth Management	244		193
Performance-based	555		—
Trust Fees	5,031		5,715

Other, net	108		(289)
Total revenues	$	22,727	$	17,216

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, 2023	Advisory		Trust		Other		Total


Canada	$	292	$	—	$	—	$	292

United States	17,296		5,031		108		22,435
Total	$	17,588	$	5,031	$	108	$	22,727


Three Months Ended March 31, 2022	Advisory		Trust		Other		Total


Canada	$	291	$	—	$	—	$	291

United States	11,499		5,715		(289)		16,925
Total	$	11,790	$	5,715	$	(289)	$	17,216

VARIABLE INTEREST ENTITIES (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023
	Assets Under Management		Corporate Investment		Amount at Risk
VIEs/VOEs:
Westwood Funds®	$	4,147	$	—	$	—
Common Trust Funds	628		—		—

Private Funds	14		11.5		0.2
Private Equity	—		0.2		8.2
All other assets:
Wealth Management	3,123
Institutional	7,039
Total Assets Under Management	$	14,951

- 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

LONG-TERM INCENTIVE COMPENSATION (Details 1) - Restricted Shares Subject Only to a Service Condition	3 Months Ended
	Mar. 31, 2023 $ / 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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2023
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 such as gains and losses from our seed money investments into new investment strategies. The "Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income are the unrealized gains and losses on our seed money investments, and our seed money investments are included in "Investments, at fair value" on our Condensed Consolidated Balance Sheets. Advisory and trust fees are calculated based on a percentage of AUM or AUA, as applicable, 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 which manages client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and AUA 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) sub-advisory relationships where Westwood provides investment management services for funds offered by other financial institutions; (iii) pooled investment vehicles, including collective investment trusts; and (iv) managed account relationships with brokerage firms and other RIAs 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 suite of 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 many 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 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, 2022. 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.

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2023
Subsequent Event [Line Items]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) Attributable to Parent	$ 693	$ 50
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation	176	177
Amortization of intangible assets	1,021	405
Net change in unrealized (appreciation) depreciation on investments	(369)	239
Stock-based compensation expense	1,748	1,380
Deferred income taxes	(136)	21
Non-cash lease expense	320	185
Gain (Loss) on Disposition of Assets	69	0
Change in operating assets and liabilities:
Net sales of trading securities	47	12,406
Accounts receivable	(657)	1,414
Other current assets	(17)	(283)
Accounts payable and accrued liabilities	141	(301)
Compensation and benefits payable	(5,612)	(7,221)
Income taxes payable	881	524
Other liabilities	(445)	(226)
Net Cash Provided by (Used in) Operating Activities	(3,179)	8,770
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(84)	(30)
Net Cash Provided by (Used in) Investing Activities	(1,252)	(30)
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchases of treasury stock	0	(200)
Restricted stock returned for payment of taxes	(837)	(626)
Cash dividends paid	(1,840)	(1,972)
Net Cash Provided by (Used in) Financing Activities	(2,677)	(2,798)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(7,108)	5,942
Cash and cash equivalents, beginning of period	23,859	15,206
Cash and cash equivalents, end of period	16,751	21,148
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for income taxes	32	0
Accrued dividends	1,972	2,216
Long-term Investments	4,455
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	693	50
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(1,060)
Payments to Acquire Businesses, Net of Cash Acquired	(1,168)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 714	$ 50

INVESTMENTS (Details) - USD ($) $ in Thousands	3 Months Ended
INVESTMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Net change in unrealized appreciation (depreciation) on private investments	$ 0	$ 37
Cost Method Investments	4,400
Cost	16,088		$ 16,121
Gross Unrealized Gains	206	143
Debt Securities, Trading, Unrealized Loss	(700)	(922)
Investments in trading securities	15,594		15,342
Cost	19,828		19,861
Gross Unrealized Gains	206	143
Debt Securities, Trading, and Equity Securities, Unrealized Loss	(1,396)	(1,635)
Estimated Fair Value	18,638		18,369
Long-term Investments	4,455		$ 4,455
Equity Method Investment, Ownership Percentage			47.50%
Long-term Investments Carried at Fair Value	3,044		$ 3,027
Long-term Investments Carried at Fair Value using NAV	300
Equity Method Investments	$ 4,228		$ 6,574
Zarvona Energy Fund GP , L.P .
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investment, Ownership Percentage	50.00%		50.00%
Equity Method Investments	$ 3,509		$ 3,438
Zarvona Energy Fund II-A, L.P .
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investment, Ownership Percentage	0.50%		0.50%
Equity Method Investments	$ 700		$ 700
Broadmark Asset Management LLC
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investment, Ownership Percentage	0.00%		47.50%
Equity Method Investments	$ 0		$ 2,417
Salient MLP Total Return Fund, L.P. [Domain]
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investment, Ownership Percentage	0.00%		0.00%
Equity Method Investments	$ 11		$ 11
Salient MLP Total Return TE Fund, L.P.
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investment, Ownership Percentage	0.20%		0.20%
Equity Method Investments	$ 8		$ 8
Total
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Equity Method Investments	4,228		6,574
U.S. Government and Government agency obligations
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	7,727		5,728
Gross Unrealized Gains	0	0
Debt Securities, Trading, Unrealized Loss	(316)	(389)
Investments in trading securities	7,411		5,339
Money market funds
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	4,087		4,093
Gross Unrealized Gains	153	111
Debt Securities, Trading, Unrealized Loss	0	0
Investments in trading securities	4,240		4,204
Equity funds
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	3,629		4,863
Gross Unrealized Gains	53	32
Debt Securities, Trading, Unrealized Loss	(329)	(446)
Investments in trading securities	3,353		4,449
Equity Securities
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	483		1,278
Gross Unrealized Gains	0	0
Debt Securities, Trading, Unrealized Loss	(41)	(65)
Investments in trading securities	442		1,213
us-gaap_EquitySecuritiesMember [Member]
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	162		159
Gross Unrealized Gains	0	0
Debt Securities, Trading, Unrealized Loss	(14)	(22)
Investments in trading securities	148		137
Private investment fund
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	265		265
Gross Unrealized Gains	0	0
Equity Securities, FV-NI, Unrealized Loss	(13)	(30)
Estimated Fair Value	252		235
Private equity
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Cost	3,475		3,475
Gross Unrealized Gains	0	0
Equity Securities, FV-NI, Unrealized Loss	(683)	$ (683)
Estimated Fair Value	$ 2,792		$ 2,792

GOODWILL AND OTHER INTANGIBLE ASSETS (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of Intangible Assets (Excluding Goodwill)	$ 0	$ 0
Goodwill	39,929,000	$ 16,401,000	$ 35,732,000	$ 16,401,000
Goodwill, Period Increase (Decrease)	$ 4,197,000

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 1.9
Treasury Stock Acquired, Average Cost Per Share	$ 16.39

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2023

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 6 “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, 2023:
Investments in trading securities	$	15,594	$	—	$	—	$	—	$	15,594
Private investment fund	—		—		—		252		252
Private equity	—		—		2,792		—		2,792
Total assets measured at fair value	$	15,594	$	—	$	2,792	$	252	$	18,638
Salient Acquisition contingent consideration	—		—		$	11,841	$	—	$	11,841
Total liabilities measured at fair value	$	—	$	—	$	11,841	$	—	$	11,841

As of December 31, 2022:
Investments in trading securities	$	15,342	$	—	$	—	$	—	$	15,342
Private investment fund	—		—		—		235		235
Private equity	—		—		2,792		—		2,792
Total assets measured at fair value	$	15,342	$	—	$	2,792	$	235	$	18,369
Salient Acquisition contingent consideration	—		—		12,901		—		12,901
Total liabilities measured at fair value	$	—	$	—	$	12,901	$	—	$	12,901
(1) Comprised of certain investments measured at fair value using 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 it utilizing inputs not observable in the market. Historically, our investment was measured at fair value on a recurring basis using a market approach based on either a price to tangible book value multiple range determined to be reasonable in the current environment, or on market transactions. On April 3, 2023, Charis was acquired by Vista Bank ("Vista") in a transaction in which the Company traded its shares in Charis for shares in Vista. The carrying value of Charis was adjusted to reflect its fair value based on that pending transaction in the fourth quarter of 2022.

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,
	2023		2022
Beginning balance	$	2,792	$	4,369



Unrealized gains (losses) on private investments	—		(43)
Ending balance	$	2,792	$	4,326

The March 31, 2023 private investment fair value of $2.8 million was valued based upon the 2023 sale of Charis to Vista.

The following table summarizes the changes in Level 3 liabilities 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,
	2023		2022
Beginning balance	$	12,901	$	—



Total (gains) losses included in earnings	(1,060)		—
Ending balance	$	11,841	$	—

- 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

SUBSEQUENT EVENTS (Details Textual) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended	3 Months Ended
	Jan. 03, 2022	Dec. 03, 2021	Apr. 30, 2020	Mar. 31, 2023	Mar. 31, 2022
Subsequent Event [Line Items]
Dividends declared per share (dollars per share)				$ 0.15	$ 0.15
Stock Repurchase Program, Remaining Authorized Repurchase Amount				$ 1.9
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared per share (dollars per share)			$ 0.15
Dividends payable, date to be paid	Jul. 03, 2023
Dividends payable, date of record		Jun. 02, 2023

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]
BALANCE at Dec. 31, 2021		$ 107,000	$ 195,187,000	$ (81,750,000)	$ 4,362,000
BALANCE, shares at Dec. 31, 2021		8,253,491,000
Net Income (Loss) Attributable to Parent	$ 50,000
Issuance of restricted stock, net of forfeitures, shares		371,765,000
Dividends declared	(1,250,000)		(1,205,000)		(1,250,000)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,380,000		1,380,000
Purchases of treasury stock, shares		(12,202,000)
Restricted stock returned for payment of taxes, shares		(37,603,000)
BALANCE at Mar. 31, 2022	117,260,000	$ 110,000	196,564,000	(82,576,000)	3,162,000
BALANCE, shares at Mar. 31, 2022		8,575,451,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	50,000
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	626,000			626,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 3,000	(3,000)
Treasury Stock, Value, Acquired, Cost Method	200,000			200,000
BALANCE at Dec. 31, 2022	$ 110,648,000	$ 115,000	199,914,000	(85,128,000)	(4,253,000)
BALANCE, shares at Dec. 31, 2022	8,904,902	8,881,831
Net Income (Loss) Attributable to Parent	$ 693,000
Issuance of restricted stock, net of forfeitures, shares		398,302
Dividends declared	(1,397,000)				(192,000)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,748,000		1,748,000
Restricted stock returned for payment of taxes, shares		(67,743)
BALANCE at Mar. 31, 2023	$ 110,855,000	$ 119,000	200,453,000	(85,965,000)	(3,752,000)
BALANCE, shares at Mar. 31, 2023	8,906,152	9,212,390
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 714,000
Net Income (Loss) Attributable to Noncontrolling Interest	21,000				$ 1,015,000
Noncontrolling Interest, Increase from Business Combination	994,000
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	837,000			$ 837,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 4,000	$ (4,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 111,870,000

INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023:
U.S. Government and Government agency obligations	$	7,727	$	—	$	(316)	$	7,411
Money market funds	4,087		153		—		4,240
Equity funds	3,629		53		(329)		3,353
Equities	483		—		(41)		442
Exchange-traded bond funds	162		—		(14)		148
Total trading securities	16,088		206		(700)		15,594
Private investment fund	265		—		(13)		252
Private equity	3,475		—		(683)		2,792
Total investments carried at fair value	$	19,828	$	206	$	(1,396)	$	18,638

December 31, 2022:
U.S. Government and Government agency obligations	$	5,728	$	—	$	(389)	$	5,339
Money market funds	4,093		111		—		4,204
Equity funds	4,863		32		(446)		4,449
Equities	1,278		—		(65)		1,213
Exchange-traded bond funds	159		—		(22)		137
Total trading securities	16,121		143		(922)		15,342
Private investment fund	265		—		(30)		235
Private equity	3,475		—		(683)		2,792
Total investments carried at fair value	$	19,861	$	143	$	(1,635)	$	18,369

INCOME TAXES (Notes)	3 Months Ended
INCOME TAXES (Notes)	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	INCOME TAXESOur effective income tax rate differed from the 21% statutory rate for the three months ended 2023 and 2022 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.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

LONG-TERM INCENTIVE COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2023

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,
	2023		2022
Service condition stock-based compensation expense			$	1,283
Performance condition stock-based compensation expense			97
Stock-based compensation expense under the Plan	—		1,380
Canadian Plan stock-based compensation expense	—		—
Total stock-based compensation expense	$	—	$	1,380

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, 2023:


	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, 2023	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, 2023:


	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, 2023	45,700	$	45.58

Business Combinations and Asset Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combination, Consideration Transferred	$ 1,168
Cash Acquired in Excess of Payments to Acquire Business	(402)
Payments to Acquire Businesses, Gross	1,570
Investment Owned, at Fair Value			$ 2,417
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value			1,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			919
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			919
Business Acquisition, Pro Forma Revenue	22,727	$ 18,394
Business Acquisition, Pro Forma Net Income (Loss)	$ 714	$ 56
Business Combination, Step Acquisition, Equity Interest in Acquiree, Description	2.4 million
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	$ 1,200
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	100
Business Combination, Acquisition of Less than 100 Percent of Broadmark, Noncontontrolling Interest	994
Business combination, consideration transferred for Broadmark	1,200
Payments to acquire Broadmark, gross	1,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			382
Goodwill, Acquired During Period	$ 4,197
Other Current Assets
Business Combination and Asset Acquisition [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			150
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			150
Accounts Receivable
Business Combination and Asset Acquisition [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			629
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			629
Property, Plant and Equipment
Business Combination and Asset Acquisition [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			11
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			11
Other Assets
Business Combination and Asset Acquisition [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			511
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			$ 511

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (dollars per share)	$ 0.15	$ 0.15

DESCRIPTION OF THE BUSINESS	3 Months Ended
DESCRIPTION OF THE BUSINESS	Mar. 31, 2023
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., Westwood Advisors, L.L.C. Salient Advisors, LP ("Salient") and its majority-owned subsidiary Broadmark Asset Management LLC ("Broadmark"), (referred to hereinafter together as “Westwood Management”), and Westwood Trust. 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. 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") and assets under advisement ("AUA"), and fluctuations in financial markets and in the composition of AUM and AUA impact our revenues and results of operations. Westwood Management is registered with the Securities and Exchange Commission ("SEC") as an investment adviser ("RIA") under the Investment Advisers Act of 1940. Westwood Trust is chartered and regulated by the Texas Department of Banking.

RELATED PARTY TRANSACTIONS	3 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSThe Company engages in transactions with its affiliates in the ordinary course of business. Westwood Management provides investment advisory services to 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 AUM. For the three months ended March 31, 2023 and March 31, 2022, the Company earned immaterial fees from the affiliated funds.

EARNINGS PER SHARE Policies (Policies)	3 Months Ended
EARNINGS PER SHARE Policies (Policies)	Mar. 31, 2023
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.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
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	$ 3,044	$ 3,027

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	3 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Investments in securities:
Investments in trading securities	$ 15,594		$ 15,342
Total assets measured at fair value	18,638		18,369
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2,792	$ 4,369
Unrealized gains (losses) on private investments	0	(43)
Ending balance	2,792	$ 4,326
Fair Value Inputs [Abstract] (Deprecated 2018-01-31)
Long-term Investments	4,455		4,455
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	11,841		12,901
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	$ (1,060)
Unobservable input - revenue retention discount rate - maximum	true
Unobservable input - revenue retention discount rate - weighted average	true
Unobservable input - revenue retention discount rate - minimum	true
Unobservable input - revenue retention volatility - weighted average	true
Unobservable input - revenue retention volatility - maximum	true
Unobservable input - revenue retention volatility - minimum	true
Unobservable input - growth discount rate - weighted average	true
Unobservable input - growth discount rate - maximum	true
Unobservable input - growth discount rate - minimum	true
Unobservable input - growth volatility - weighted average	true
Unobservable input - growth volatility - maximum	true
Unobservable input - growth volatility - minimum	true
Level 1
Investments in securities:
Investments in trading securities	$ 15,594		15,342
Total assets measured at fair value	15,594		15,342
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	$ 2,792		$ 2,792
Asset Acquisition, Consideration Transferred, Contingent Consideration	Level 3		Level 3
Other Liabilities, Fair Value Disclosure	$ 11,841		$ 12,901
Investments Measured at NAV
Investments in securities:
Investments in trading securities	0		0
Total assets measured at fair value	$ 252		$ 235
Fair Value, Recurring
Investments in securities:
Asset Acquisition, Consideration Transferred, Contingent Consideration	Fair Value, Inputs, Level 1, 2 and 3 [Member]		Fair Value, Inputs, Level 1, 2 and 3 [Member]
Private investment fund
Investments in securities:
Private	$ 252		$ 235
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	252		235
Private equity
Investments in securities:
Private	2,792		2,792
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	2,792		2,792
Private equity \| Investments Measured at NAV
Investments in securities:
Private	$ 0		$ 0

LONG-TERM INCENTIVE COMPENSATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
DomesticEmployeeServiceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ 1,283
Performance Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		97
DomesticServiceAndPerformanceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	0	1,380
CanadianEmployeeServiceAward [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	0	0
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 0	$ 1,380

SEGMENT REPORTING (Details Textual)	3 Months Ended
SEGMENT REPORTING (Details Textual)	Mar. 31, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	2

SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023
Net fee revenues from external sources	$	17,588	$	5,031	$	—	$	—	$	22,619
Net intersegment revenues	1,662		77		—		(1,739)		—

Other, net	108		—		—		—		108
Total revenues	$	19,358	$	5,108	$	—	$	(1,739)	$	22,727

March 31, 2023 segment assets	$	256,946	$	51,502	$	16,616	$	(183,265)	$	141,799
March 31, 2023 segment goodwill	$	23,528	$	16,401	$	—	$	—	$	39,929

Three Months Ended March 31, 2022
Net fee revenues from external sources	$	11,790	$	5,715	$	—	$	—	$	17,505
Net intersegment revenues	577		90		—		(667)		—

Other, net	(289)		—		—		—		(289)
Total revenues	$	12,078	$	5,805	$	—	$	(667)	$	17,216

March 31, 2022 segment assets	$	222,545	$	57,913	$	12,876	$	(162,318)	$	131,016
March 31, 2022 segment goodwill	$	—	$	16,401	$	—	$	—	$	16,401

REVENUE Policies (Policies)	3 Months Ended
REVENUE Policies (Policies)	Mar. 31, 2023
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 such as gains and losses from our seed money investments into new investment strategies. The "Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income are the unrealized gains and losses on our seed money investments, and our seed money investments are included in "Investments, at fair value" on our Condensed Consolidated Balance Sheets. Advisory and trust fees are calculated based on a percentage of AUM or AUA, as applicable, 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 which manages client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and AUA 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) sub-advisory relationships where Westwood provides investment management services for funds offered by other financial institutions; (iii) pooled investment vehicles, including collective investment trusts; and (iv) managed account relationships with brokerage firms and other RIAs 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 suite of 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 many 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 fee revenues.

GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

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 2022 and determined that no goodwill impairment related to the Trust segment was required. There was no goodwill impairment in the Trust segment during the three months ended March 31, 2023 or March 31, 2022.

Changes in goodwill were as follows (in thousands):


	March 31,
	2023		2022
Beginning balance	$	35,732	$	16,401
Broadmark Acquisition1	4,197		—
Ending balance	$	39,929	$	16,401

1 The $4.2 million of goodwill acquired is attributable to the Advisory segment.

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, 2023 or March 31, 2022.

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023:
Investments in trading securities	$	15,594	$	—	$	—	$	—	$	15,594
Private investment fund	—		—		—		252		252
Private equity	—		—		2,792		—		2,792
Total assets measured at fair value	$	15,594	$	—	$	2,792	$	252	$	18,638
Salient Acquisition contingent consideration	—		—		$	11,841	$	—	$	11,841
Total liabilities measured at fair value	$	—	$	—	$	11,841	$	—	$	11,841

As of December 31, 2022:
Investments in trading securities	$	15,342	$	—	$	—	$	—	$	15,342
Private investment fund	—		—		—		235		235
Private equity	—		—		2,792		—		2,792
Total assets measured at fair value	$	15,342	$	—	$	2,792	$	235	$	18,369
Salient Acquisition contingent consideration	—		—		12,901		—		12,901
Total liabilities measured at fair value	$	—	$	—	$	12,901	$	—	$	12,901
(1) Comprised of certain investments measured at fair value using 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]


	Fair Value using Significant Unobservable Inputs (Level 3)
	Three Months Ended March 31,
	2023		2022
Beginning balance	$	2,792	$	4,369



Unrealized gains (losses) on private investments	—		(43)
Ending balance	$	2,792	$	4,326

The March 31, 2023 private investment fair value of $2.8 million was valued based upon the 2023 sale of Charis to Vista.The following table summarizes the changes in Level 3 liabilities 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,
	2023		2022
Beginning balance	$	12,901	$	—



Total (gains) losses included in earnings	(1,060)		—
Ending balance	$	11,841	$	—

INVESTMENTS (Details Textual) - USD ($) $ in Thousands	3 Months Ended
INVESTMENTS (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Schedule of Investments [Line Items]
Long-term Investments	$ 4,455		$ 4,455
Estimated Fair Value	18,638		18,369
Cost	16,088		16,121
Net change in unrealized appreciation (depreciation) on private investments	0	$ 37
us-gaap_EquitySecuritiesMember [Member]
Schedule of Investments [Line Items]
Cost	$ 162		$ 159

STOCKHOLDERS' EQUITY Share Repurchase Program (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 1,900,000
Treasury Stock Acquired, Average Cost Per Share	$ 16.39
Stock Repurchased and Retired During Period, Shares	12,202
Treasury Stock, Value, Acquired, Par Value Method	$ 200,000
Treasury Stock, Value		$ 85,965,000	$ 85,128,000
Treasury Stock, Value, Acquired, Cost Method	$ 200,000

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Variable Interest Entities
Assets Under Management	$ 14,951,000
Estimated Fair Value	18,638	$ 18,369
Westwood Funds®
Variable Interest Entities
Assets Under Management	4,147,000
Estimated Fair Value	0
Amount at Risk	0
Common Trust Funds
Variable Interest Entities
Assets Under Management	628,000
Estimated Fair Value	0
Amount at Risk	0
Westwood Hospitality Fund I LLC [Member]
Variable Interest Entities
Assets Under Management	14,000
Estimated Fair Value	11,500
Amount at Risk	200
Private equity
Variable Interest Entities
Assets Under Management	0
Estimated Fair Value	200
Amount at Risk	8,200
Wealth Management
Variable Interest Entities
Assets Under Management	3,123,000
Institutional
Variable Interest Entities
Assets Under Management	$ 7,039,000

REVENUE (Notes)

3 Months Ended

Mar. 31, 2023

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 such as gains and losses from our seed

money investments into new investment strategies. The "Other, net” revenues on our Condensed Consolidated Statements of Comprehensive Income are the unrealized gains and losses on our seed money investments, and our seed money investments are included in "Investments, at fair value" on our Condensed Consolidated Balance Sheets. Advisory and trust fees are calculated based on a percentage of AUM or AUA, as applicable, 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 which manages client accounts under investment advisory and sub-advisory agreements. Advisory fees are typically calculated based on a percentage of AUM and AUA 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) sub-advisory relationships where Westwood provides investment management services for funds offered by other financial institutions; (iii) pooled investment vehicles, including collective investment trusts; and (iv) managed account relationships with brokerage firms and other RIAs 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 suite of 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 many 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 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,
	2023		2022
Advisory Fees:
Institutional	$	9,603	$	7,048
Mutual Funds	7,186		4,549
Wealth Management	244		193
Performance-based	555		—
Trust Fees	5,031		5,715

Other, net	108		(289)
Total revenues	$	22,727	$	17,216

We serve clients primarily in the United States, as well as in certain international locations. The following table presents our revenue disaggregated by our clients' geographical locations (in thousands):


Three Months Ended March 31, 2023	Advisory		Trust		Other		Total


Canada	$	292	$	—	$	—	$	292

United States	17,296		5,031		108		22,435
Total	$	17,588	$	5,031	$	108	$	22,727


Three Months Ended March 31, 2022	Advisory		Trust		Other		Total


Canada	$	291	$	—	$	—	$	291

United States	11,499		5,715		(289)		16,925
Total	$	11,790	$	5,715	$	(289)	$	17,216

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

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

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

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,
	2023		2022
Advisory Fees:
Institutional	$	9,603	$	7,048
Mutual Funds	7,186		4,549
Wealth Management	244		193
Performance-based	555		—
Trust Fees	5,031		5,715

Other, net	108		(289)
Total revenues	$	22,727	$	17,216


Three Months Ended March 31, 2023	Advisory		Trust		Other		Total


Canada	$	292	$	—	$	—	$	292

United States	17,296		5,031		108		22,435
Total	$	17,588	$	5,031	$	108	$	22,727


Three Months Ended March 31, 2022	Advisory		Trust		Other		Total


Canada	$	291	$	—	$	—	$	291

United States	11,499		5,715		(289)		16,925
Total	$	11,790	$	5,715	$	(289)	$	17,216

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ 22,727

$ 17,216

Canada

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

292

291

United States [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

22,435

16,925

Investment Advisory Services [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

17,588

11,790

Investment Advisory Services [Member] | Canada

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

292

291

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

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

17,296

11,499

Investment Advisory Services [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

9,603

7,048

Mutual Fund Advisory [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

7,186

4,549

Private Wealth Advisory [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

244

193

Performance-based fees [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

555

Trust Fees [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

5,031

5,715

Trust Fees [Member] | Canada

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

5,031

5,715

Trust Fees [Member] | Trust

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

5,031

5,715

Other Revenue Misc Services [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

108

(289)

Other Revenue Misc Services [Member] | Canada

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

108

(289)

Other Revenue Misc Services [Member] | Advisory

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ 108

$ (289)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2023
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, 2022. 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.

DESCRIPTION OF THE BUSINESS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Gain (Loss) on Disposition of Assets	$ 69	$ 0
Payments to Acquire Businesses, Net of Cash Acquired	(1,168)
Business Combination, Consideration Transferred	$ 1,168
Noncontrolling Interest, Ownership Percentage by Parent	80.00%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage	32.00%
Business combination, consideration transferred for Broadmark	$ 1,200

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	3 Months Ended
SEGMENT REPORTING (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net fee revenues from external sources	$ 22,619	$ 17,505
Net intersegment revenues	0	0
Other, net	108	(289)
Total revenues	22,727	17,216
Segment Assets	(141,799)	(131,016)	$ (146,427)
Goodwill	39,929	16,401	$ 35,732	$ 16,401
Operating Segments \| Advisory
Segment Reporting Information [Line Items]
Net fee revenues from external sources	17,588	11,790
Net intersegment revenues	1,662	577
Other, net	108	(289)
Total revenues	19,358	12,078
Segment Assets	(256,946)	(222,545)
Goodwill	23,528	0
Operating Segments \| Trust
Segment Reporting Information [Line Items]
Net fee revenues from external sources	5,031	5,715
Net intersegment revenues	77	90
Other, net	0	0
Total revenues	5,108	5,805
Segment Assets	(51,502)	(57,913)
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
Other, net	0	0
Total revenues	0	0
Segment Assets	(16,616)	(12,876)
Goodwill	0	0
Eliminations
Segment Reporting Information [Line Items]
Net fee revenues from external sources	0	0
Net intersegment revenues	(1,739)	(667)
Other, net	0	0
Total revenues	(1,739)	(667)
Segment Assets	183,265	162,318
Goodwill	$ 0	$ 0

EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2023

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,
	2023		2022
Comprehensive income attributable to Westwood Holdings Group, Inc.	$	693	$	50
Weighted average shares outstanding - basic	7,853,921		7,865,174
Dilutive potential shares from unvested restricted shares	114,583		66,279

Weighted average shares outstanding - diluted	7,968,504		7,931,453
Earnings per share:
Basic	$	0.09	$	0.01
Diluted	$	0.09	$	0.01