0001165002-24-000022 | 10-K | XBRL Viewer | Westwood Holdings Group INC

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Description of the Business (Details Textual) - USD ($)	12 Months Ended
Description of the Business (Details Textual) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Noncontrolling Interest, Increase from Business Combination	$ 994,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value	$ 0.48
Subsidiary, Ownership Percentage, Noncontrolling Owner	80.00%
Other Noncontrolling Interests	$ 0.32
Asset Acquisition, Consideration Transferred	$ 1,200,000	$ 46,320,000

Variable Interest Entities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entities
Assets Under Management	$ 15,459,000
Corporate Investment	32,674	$ 15,342
Fee revenues from Westwood VIEs	32,400	$ 23,200	$ 22,800
Westwood Funds
Variable Interest Entities
Assets Under Management	4,103,000
Corporate Investment	0
Amount at Risk	0
Common Trust Funds
Variable Interest Entities
Assets Under Management	668,000
Corporate Investment	0
Amount at Risk	0
Westwood Hospitality Fund I LLC [Member]
Variable Interest Entities
Assets Under Management	56,000
Corporate Investment	300
Amount at Risk	300
Private Equity Investments [Member]
Variable Interest Entities
Assets Under Management	0
Corporate Investment	7,200
Amount at Risk	7,200
Wealth Management
Variable Interest Entities
Assets Under Management	3,417,000
Institutional
Variable Interest Entities
Assets Under Management	$ 7,215,000

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation	$ 10,078	$ 9,196
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued		10,182,583
Common stock, shares outstanding		8,904,902
Treasury stock, shares		1,277,681

Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS (LOSS) PER SHARE:

Basic earnings (loss) per common share is computed by dividing comprehensive income (loss) attributable to Westwood Holdings Group, Inc. by the weighted average number of shares outstanding for the applicable period. Diluted earnings (loss) 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 using the treasury stock method. There were approximately 63,000, 120,000 and 116,000 anti-dilutive restricted shares as of December 31, 2023, 2022 and 2021, respectively, which were excluded from weighted average shares outstanding.

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


	Years ended December 31,
	2023		2022		2021
Comprehensive income (loss) attributable to Westwood Holdings Group, Inc.	$	9,520	$	(4,628)	$	9,763

Weighted average shares outstanding – basic	7,964,423		7,844,363		7,875,395
Dilutive potential shares from unvested restricted shares	147,716		—		52,577

Weighted average shares outstanding – diluted	8,112,139		7,844,363		7,927,972
Earnings (loss) per share:
Basic	$	1.20	$	(0.59)	$	1.24
Diluted	$	1.17	$	(0.59)	$	1.23

Business Combinations and Asset Acquisitions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Estimated merger consideration	$ 1,168	$ 33,400
Asset Acquisition, Consideration Transferred, Contingent Consideration	10,100	12,900
Asset Acquisition [Line Items]
Asset Acquisition, Consideration Transferred	1,200	46,320
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		28,785
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets		3,285
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		6,519
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		81
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		18,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	919	1,796
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	382	26,989
Goodwill Acquired	4,197	19,331
Asset Acquisition, Consideration Transferred, Contingent Consideration	10,100	12,900
Cash Acquired in Excess of Payments to Acquire Business	(402)	(534)
Estimated merger consideration	$ 1,168	33,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	18,900
Non-compete agreements		1,100
business combinations, recognized intangible		14,000
Trade name		3,800
Closing sate consideration paid in cash	$ 1,570	$ 46,300
Finite-Lived Intangible Assets, Remaining Amortization Period		11 years 10 months 24 days
Business Acquisition, Goodwill, Expected Tax Deductible Amount	5,900
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	3,100
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	(100)
Business Acquisition, Pro Forma Revenue	89,781	$ 73,058
Business Acquisition, Pro Forma Net Income (Loss)	10,571	(100)
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed	7,100
Goodwill, Purchase Accounting Adjustments	$ (400)
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage	80.00%
Subsidiary, Ownership Percentage, Noncontrolling Owner	80.00%
Payments to Acquire Businesses, Net of Cash Acquired	$ (741)	(33,419)
Investment Owned, at Fair Value	2,417	2,400
Business Combination, Acquisition of Less than 100 Percent of Broadmark, Noncontontrolling Interest	$ 994
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage	3200.00%
Business Acquisitions - Salient, Pro Forma Revenue		95,094	$ 99,467
Business Acquisitions - Salient, Net Income (Loss0		(2,310)	$ (1,664)
Business Combination Consideration Transferred - Broadmark	$ 1,200
Business Combination Consideration Transferred Gross- Broadmark	1,600
Business Combination - Broadmark Revenues includedin Earnings	4,400
Business Combinations - Broadmark net income included in earnings	4,100
Nonredeemable Noncontrolling Interest	1,000
Contingent Consideration Type [Domain]
Business Combination and Asset Acquisition [Abstract]
Asset Acquisition, Consideration Transferred, Contingent Consideration		12,901
Asset Acquisition [Line Items]
Asset Acquisition, Consideration Transferred, Contingent Consideration		12,901
Cash and Cash Equivalents
Asset Acquisition [Line Items]
Closing sate consideration paid in cash		33,953
Other Current Assets
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets		850
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	150
Accounts Receivable
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	629
Property, Plant and Equipment
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	11
Other Assets
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	511
Accounts Receivable
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		$ 2,435
Revenue retention earn-out
Asset Acquisition [Line Items]
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High	15,000
Growth earn-out
Asset Acquisition [Line Items]
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High	$ 10,000
Contractual Rights
Asset Acquisition [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period		11 years 1 month 6 days
Trade Names [Member]
Asset Acquisition [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period		7 months 6 days
Other Intangible Assets
Asset Acquisition [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period		2 months 12 days

Quarterly Financial Data (Details) - USD ($)	3 Months Ended								12 Months Ended
Quarterly Financial Data (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 20,456,000	$ 15,406,000	$ 15,603,000	$ 17,216,000	$ 19,391,000	$ 17,860,000	$ 17,484,000	$ 18,319,000	$ 89,781,000	$ 68,681,000	$ 73,054,000
Income (loss) before income taxes	(4,313,000)	(1,021,000)	(458,000)	594,000	3,213,000	2,360,000	1,416,000	7,014,000	13,443,000	(5,195,000)	14,003,000
Net income	$ (3,125,000)	$ (1,175,000)	$ (378,000)	$ 50,000	$ 2,813,000	$ 1,879,000	$ 970,000	$ 4,101,000	$ 10,571,000	$ (4,628,000)	$ 9,763,000
Basic earnings per common share (in dollars per share)	$ (0.40)	$ (0.15)	$ (0.05)	$ 0.01	$ 0.36	$ 0.24	$ 0.12	$ 0.52	$ 1.20	$ (0.59)	$ 1.24
Diluted earnings per common share (in dollars per share)	$ (0.40)	$ (0.15)	$ (0.05)	$ 0.01	$ 0.36	$ 0.24	$ 0.12	$ 0.52	$ 1.17	$ (0.59)	$ 1.23
Dividends, Cash									$ 0.15

- 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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Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2023

Variable Interest Entities [Abstract]

Variable Interest Entities

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


	As of December 31, 2023
	Assets Under Management		Corporate Investment		Amount at Risk
VIEs/VOEs:
Westwood Funds®	$	4,103	$	—	$	—
Common Trust Funds	668		$	—	$	—

Private Funds	56		$	0.3	$	0.3
Private Equity	—		$	7.2	$	7.2

All other assets:
Wealth Management	3,417
Institutional	7,215
Total AUM	$	15,459

- 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

Income Taxes Income Taxes (Uncertain Tax Positions) (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1, 2017	$ 25
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(21)	$ (4)
Balance at December 31, 2020	$ 21	$ 25

Investments (Details Textual) - USD ($) $ in Thousands	12 Months Ended
Investments (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Investments [Line Items]
Corporate Investment	$ 32,674	$ 15,342
Unrealized Gain on Securities	327	143
Investments, All Other Investments [Abstract]
Realized Investment Gains (Losses)	0	0	$ 8,371
Unrealized Gain (Loss) on Investments	$ 6	(1,495)	(1,797)
Equity Method Investment, Ownership Percentage	47.50%
Long Term Investments, Cost, in a private company.	$ 4,400
Carrying value - private investment	4,400
Investment carrying value - Vista	2,800
Long Term Investment, at Cost, in Private Equity	300
Unrealized Gain (Loss) on Investments	6	(1,495)	$ (1,797)
Long-term Investments	7,247	4,455
Unrealized Gain on Securities	327	$ 143
Long Term Investments, Cost, in a private company.	4,400
Long Term Investment, at Cost, in Private Equity	$ 300

Goodwill and Other Intangible Assets (Estimated Amortization) (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Estimated amortization expense for intangible assets for the next five years
2019	$ 4,095
2020	3,939
2021	2,293
2022	2,293
2023	2,293
Finite-lived intangibles, expected amortization, thereafter	9,890
Intangible assets, net	$ 24,803	$ 28,952

Income Taxes (Provision Components) (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current taxes:
U.S. Federal	$ 1,370	$ 14	$ 3,482
State and local	466	237	356
Foreign	0	98	(218)
Total current taxes	1,836	349	3,620
Deferred taxes:
U.S. Federal	1,014	(888)	446
State and local	22	(44)	30
Foreign	0	16	144
Total deferred taxes	1,036	(916)	620
Income tax provision	$ 2,872	$ (567)	$ 4,240

Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
Related Party Transactions (Details Textual) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Sublease Income	$ 862,000	$ 771,000	$ 602,000
Increase (Decrease) in Accounts Receivable, Related Parties	100,000
Related Party Transaction, Amounts of Transaction	300,000		400,000
Costs and Expenses, Related Party	100,000
Sublease Income	$ 862,000	$ 771,000	$ 602,000

Leases, Codification Topic 842 (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

The maturities of lease liabilities are as follows (in thousands):


Year ending December 31,	Operating Leases
2024	$	1,842
2025	1,930
2026	707
2027	383
2028	389
Thereafter	288
Total undiscounted lease payments	$	5,539
Less: discount	(987)
Total lease liabilities	$	4,552

Lease, Cost

The following table presents the components of lease costs related to our leases (amounts in thousands):


	Years Ended December 31,
	2023		2022		2021
Operating lease costs	$	1,512	$	1,682	$	1,655
Sublease income	862		771		602

Sublease income relates to subleasing a portion of our corporate offices.

The following table presents supplemental cash flow information related to our leases (amounts in thousands):


	Years Ended December 31,
	2023		2022		2021
Operating cash flows from operating leases	$	1,774	$	1,762	$	1,990
Right-of-use assets obtained in exchange for lease obligations	$	173	$	1,217	$	—

Lessee, Operating Lease, Disclosure

The following table presents information regarding our operating leases (in thousands, except years and rates):


	December 31,
	2023			2022
Operating lease right-of-use assets	$	3,673		$	4,976

Operating lease liabilities	$	1,286		$	1,502
Non-current lease liabilities	3,266			4,563
Total lease liabilities	$	4,552		$	6,065

Weighted-average remaining lease term (in years)	3.3			4.1
Weighted-average discount rate	5.7		%	5.6		%

Revenue Revenue Disaggregated (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Advisory Fee Revenues

Our advisory fees are generated by Westwood Management for managing 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 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 registered investment advisors that offer Westwood products to their customers.

Mutual funds include the Westwood Funds®, a family of mutual funds for which Westwood Management serves as advisor. These funds are available to individual investors, as well as offered as part of our 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. Performance-based fees are paid after the performance obligation has been satisfied.

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, and are paid monthly and quarterly in arrears. Since billing periods for most of Westwood Trust’s clients coincide with the calendar quarter, revenue is fully recognized within the quarter and our 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).


	Year Ended December 31,
	2023		2022		2021
Advisory Fees:
Institutional	$	37,738	$	26,653	$	31,069
Mutual Funds	29,745		20,245		17,507
Wealth Management	1,172		805		686

Trust Fees	20,592		21,686		24,131

Other	534		(708)		(339)
Total revenues	$	89,781	$	68,681	$	73,054

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


Year Ended December 31, 2023	Advisory		Trust		Performance-based		Other		Total


Canada	$	1,105	$	—	$	—	$	—	$	1,105

U.S.	66,286		20,242		1,614		534		88,676
Total	$	67,391	$	20,242	$	1,614	$	534	$	89,781

Year Ended December 31, 2022	Advisory		Trust		Performance-based		Other		Total


Canada	1,171		—		—		—		1,171

U.S.	45,514		21,686		1,018		(708)		67,510
Total	$	46,685	$	21,686	$	1,018	$	(708)	$	68,681


Year Ended December 31, 2021	Advisory		Trust		Performance-based		Other		Total


Canada	1,163		—		—		—		1,163
Europe	638		—		262		—		900
U.S.	45,512		24,131		1,687		(339)		70,991
Total	$	47,313	$	24,131	$	1,949	$	(339)	$	73,054

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ (89,781)

$ (68,681)

$ (73,054)

UNITED STATES

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(88,676)

(67,510)

(70,991)

Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(900)

CANADA

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(1,105)

(1,171)

(1,163)

Other Revenue Misc Services [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(534)

708

339

Other Revenue Misc Services [Member] | UNITED STATES

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(534)

708

339

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] | CANADA

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

performance fee [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(1,614)

(1,018)

(1,949)

performance fee [Member] | UNITED STATES

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(1,614)

(1,018)

(1,687)

performance fee [Member] | Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(262)

performance fee [Member] | CANADA

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Trust Fee [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(20,242)

(21,686)

(24,131)

Trust Fee [Member] | UNITED STATES

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(20,242)

(21,686)

(24,131)

Trust Fee [Member] | Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Trust Fee [Member] | CANADA

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

Investment Advisory Services [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(67,391)

(46,685)

(47,313)

Investment Advisory Services [Member] | UNITED STATES

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(66,286)

(45,514)

(45,512)

Investment Advisory Services [Member] | Europe [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(638)

Investment Advisory Services [Member] | CANADA

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(1,105)

(1,171)

(1,163)

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

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(534)

708

339

Advisory [Member] | Investment Advisory Services [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(37,738)

(26,653)

(31,069)

Advisory [Member] | Mutual Fund Advisory [Member] [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(29,745)

(20,245)

(17,507)

Advisory [Member] | Private Wealth Advisory [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

(1,172)

(805)

(686)

Trust [Member] | Trust Fee [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ (20,592)

$ (21,686)

$ (24,131)

Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Net deferred tax assets and liabilities are reflected on our balance sheet
Net deferred tax assets	$ 726	$ 1,762

Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax Reform [Line Items]
Prepaid Taxes	$ 205	$ 446
U.S. Federal corporate tax rate	21.00%	21.00%	21.00%
Uncertain tax position	$ 21	$ 25

Variable Interest Entities

12 Months Ended

Dec. 31, 2023

Variable Interest Entities [Abstract]

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES:

As discussed in Note 2 “Summary of Significant Accounting Policies,” the CTFs and Private Funds (together the “Westwood VIEs”) are considered VIEs, and the Westwood Funds® and Private Equity are considered VOEs (together the “Westwood VOEs”). We receive fees for managing assets in these entities commensurate with market rates. As of December 31, 2023 and 2022, we evaluated all of the Westwood VIEs and Westwood VOEs to determine whether or not we should consolidate the entities into our Consolidated Financial Statements. For the Westwood VIEs, we evaluated whether or not we qualify as the primary beneficiary based on whether we have the obligation to absorb significant losses, the right to receive residual returns and the right to direct the activities of the entity that most significantly impact the entity’s economic performance, and concluded that we do not qualify as a primary beneficiary for those entities. For the Westwood VOEs, we evaluated whether or not we own a controlling financial interest in the entities, and we concluded that we do not. Based on our analyses, we have not consolidated the Westwood VIEs or Westwood VOEs into our Consolidated Financial Statements for the years ended December 31, 2023 or 2022.

We have not otherwise provided any financial support that we were not previously contractually obligated to provide and there are no arrangements that would require us to provide additional financial support to any of these entities. Our seed investments in the Westwood Funds® are accounted for as investments in accordance with our other investments described in Note 6 “Investments.”

We recognized fee revenue from the Westwood VIEs and Westwood VOEs of approximately $32.4 million, $23.2 million and $22.8 million for the years ended December 31, 2023, 2022 and 2021, respectively.


	As of December 31, 2023
	Assets Under Management		Corporate Investment		Amount at Risk
VIEs/VOEs:
Westwood Funds®	$	4,103	$	—	$	—
Common Trust Funds	668		$	—	$	—

Private Funds	56		$	0.3	$	0.3
Private Equity	—		$	7.2	$	7.2

All other assets:
Wealth Management	3,417
Institutional	7,215
Total AUM	$	15,459

Investments (Other Revenue) (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Realized gains	$ 73	$ 1	$ 41
Realized losses	(190)	(363)	(212)
Net realized gains (losses)	(117)	(362)	(171)
Income tax expense from gains (losses)	(25)	(76)	(36)
Interest income – trading	640	414	716
Dividend income	61	90	35
Gain (Loss) on Investments	1,425	(2,131)	923
Unrealized gains/(losses)	$ 839	$ (2,136)	$ (1,845)

Revenue (Policies)	12 Months Ended
Revenue (Policies)	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Revenues are recognized when the performance obligation (the investment management and advisory or trust services provided to the client) defined by the investment advisory or sub-advisory agreement is satisfied. For each performance obligation, we determine at contract inception whether the revenue satisfies over time or at a point in time. We derive our revenues from investment advisory fees, trust fees and other sources of revenues such as gains and losses from our seed money investments into net investment strategies. The "Other, net” revenues on our Consolidated Statements of Comprehensive Income (Loss) 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 Consolidated Balance Sheets. Our seed money investments were $3.0 million and $7.3 million at December 31, 2023 and 2022, respectively. Advisory and Trust fees are calculated based on a percentage of AUM and AUA, and the performance obligation is realized over the then-current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment. Incremental costs to obtain a contract are eligible to be capitalized if the costs are expected to be recovered over the service period. We incur certain incremental costs in obtaining new business and continually evaluate whether costs should be capitalized and amortized over the expected period of benefit of the asset. Certain costs used to fulfill a contract such as the distribution services utilized to sell our Westwood Funds® are expensed as incurred. We recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared, per share	$ 2.88	$ 2.76	$ 2.54

Balance Sheet Components (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property and equipment
Accumulated depreciation	$ (10,078)	$ (9,196)
Net property and equipment	1,444	1,828
Leasehold improvements
Property and equipment
Property and equipment cost	5,173	4,921
Furniture and fixtures
Property and equipment
Property and equipment cost	2,792	2,786
Computer hardware and office equipment
Property and equipment
Property and equipment cost	$ 3,557	$ 3,317

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Intersegment Balances


(in thousands)	Advisory		Trust		Westwood Holdings		Eliminations		Consolidated
Year Ended December 31, 2023
Revenues:
Net fee revenues from external sources	$	68,656	$	20,591	$	—	$	—	$	89,247
Net intersegment revenues	6,270		279		—		(6,549)		—

Other revenue	534		—		—		—		534
Total revenues	75,460		20,870		—		(6,549)		89,781












Net income (loss)	$	14,636	$	1,776	$	(5,841)	$	—	$	10,571






Segment assets	$	285,179	$	46,754	$	14,256	$	(191,022)	$	155,167
Segment goodwill	$	23,100	$	16,401	$	—	$	—	$	39,501
Segment equity method investments	$	4,284	$	—	$	—	$	—	$	4,284
Expenditures for long-lived assets	$	135	$	94	$	(82)	$	—	$	147

Year Ended December 31, 2022
Revenues:
Net fee revenues from external sources	$	47,703	$	21,686	$	—	$	—	$	69,389
Net intersegment revenues	2,080		336		—		(2,416)		—

Other revenue	(708)		—		—		—		(708)
Total revenues	49,075		22,022		—		(2,416)		68,681












Net income (loss)	$	11,062	$	1,005	$	(16,695)	$	—	$	(4,628)






Segment assets	$	283,027	$	53,644	$	30,308	$	(220,552)	$	146,427
Segment goodwill	$	19,331	$	16,401	$	—	$	—	$	35,732
Segment equity method investments	$	6,574	$	—	$	—	$	—	$	6,574
Expenditures for long-lived assets	$	137	$	84	$	99	$	—	$	320

Year Ended December 31, 2021
Revenues:
Net fee revenues from external sources	$	49,262	$	24,131	$	—	$	—	$	73,393
Net intersegment revenues	2,415		356		—		(2,771)		—

Other revenue	(339)		—		—		—		(339)
Total revenues	51,338		24,487		—		(2,771)		73,054











Net income (loss)	$	16,780	$	5,656	$	(12,673)	$	—	$	9,763






Segment assets	$	222,335	$	56,965	$	12,784	$	(152,479)	$	139,605
Segment goodwill	$	—	$	16,401	$	—	$	—	$	16,401
Expenditures for long-lived assets	$	66	$	61	$	51	$	—	$	178

Commitments and Contingencies (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Insurance proceeds	$ (5,000)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 10,571	$ (4,628)	$ 9,763
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	670	687	750
Amortization of intangible assets	4,149	1,889	1,624
Net change in unrealized (appreciation) depreciation on investments	(839)	2,136	1,845
Realized gains on private investments		0	(8,371)
Realized Investment Gains (Losses)	0	0	8,371
Stock-based compensation expense	6,518	6,001	5,835
Deferred income taxes	1,036	(916)	620
Gain (Loss) on Sale of Assets and Asset Impairment Charges	69	0	0
Gain (Loss) on Sale of Leased Assets, Net, Operating Leases	(119)
Fair Value, Option, Changes in Fair Value, Gain (Loss)	(2,768)
Insurance proceeds	(5,000)
Gain on sale of operations	0	0	(148)
Gain on asset disposition	1,103	1,110	1,235
Changes in operating assets and liabilities:
Net (purchases) sales of investments – trading securities	(16,609)	48,977	4,513
Accounts receivable	135	(313)	(1,702)
Other current assets	660	(1,842)	189
Accounts payable and accrued liabilities	(447)	1,251	1,009
Compensation and benefits payable	851	(861)	2,042
Income taxes payable	241	(687)	1,750
Other liabilities	(1,406)	(1,314)	(1,569)
Cash flows from investing activities:
Sale of investments	741	33,419
Proceeds from Insurance Settlement, Investing Activities	5,000
Purchases of investments	0	0	(15)
Payments to Acquire Investments	(147)	320	178
Proceeds from Sale of Property, Plant, and Equipment	0	0	501
Cash flows from financing activities:
Purchases of treasury stock	0	(2,851)	(2,990)
Restricted stock returned for payment of taxes	(862)	(627)	(884)
Cash dividends	(5,502)	(5,625)	(22,932)
Effect of currency rate changes on cash	0	5	45
Net increase (decrease) in cash and cash equivalents	(3,437)	8,653	2,190
Cash and cash equivalents, beginning of year	23,859	15,206	13,016
Cash and cash equivalents, end of year	20,422	23,859	15,206
Supplemental cash flow information:
Cash paid during the year for income taxes	1,594	1,858	1,858
Right-of-use assets obtained in exchange for operating lease liabilities	173	1,217	0
Accrued dividends	2,368	2,446	2,933
Supplemental Deferred Purchase Price	0	12,901
Net Cash Provided by (Used in) Operating Activities	(1,185)	51,490	19,385
Proceeds from Sale of Other Investments	0	0	9,258
Net Cash Provided by (Used in) Investing Activities	4,112	(33,739)	9,566
Net Cash Provided by (Used in) Financing Activities	$ (6,364)	$ (9,103)	$ (26,806)

Balance Sheet Components

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BALANCE SHEET COMPONENTS

BALANCE SHEET COMPONENTS:

Property and Equipment

The following table reflects information about our property and equipment as of December 31, 2023 and 2022 (in thousands):


	As of December 31,
	2023		2022
Leasehold improvements	$	5,173	$	4,921
Furniture and fixtures	2,792		2,786
Computer hardware and office equipment	3,557		3,317

Accumulated depreciation	(10,078)		(9,196)
Property and equipment, net	$	1,444	$	1,828

Goodwill and Other Intangible Assets (Tables) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Goodwill

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


	Trust Segment		Advisory Segment		Total
Balance at December 31, 2021	$	16,401	$	—	$	16,401
Salient Acquisition	—		19,331		19,331
Balance at December 31, 2022	16,401		19,331		35,732
Salient Acquisition adjustment1	—		(428)		(428)
Broadmark Acquisition	—		4,197		4,197
Balance at December 31, 2023	$	16,401	$	23,100	$	39,501

Summary of Intangible Assets

The following is a summary of intangible assets at December 31, 2023 and 2022 (in thousands, except years):


	Weighted Average Amortization Period (years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
2023
Client relationships	15.0	$	34,397	$	(12,906)	$	21,491
Internally developed software	5.8	1,439		(1,258)		181
Trade name	3.0	3,800		(1,372)		2,428
Non-compete agreements	3.0	1,100		(397)		703
		$	40,736	$	(15,933)	$	24,803
2022
Client relationships	15.0	$	34,397	$	(10,636)	$	23,761
Internally developed software	5.8	1,439		(1,012)		427
Trade name	3.0	3,800		(105)		3,695
Non-compete agreements	3.0	1,100		(31)		1,069
		$	40,736	$	(11,784)	$	28,952

Amortization expense

$ 4,149

$ 1,889

$ 1,624

Estimated Amortization Expense for Intangible Assets over the Next Five Years

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


For the year ending December 31,	Estimated Amortization Expense
2024	$	4,095
2025	3,939
2026	2,293
2027	2,293
2028	2,293
Thereafter	9,890
Total	$	24,803

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Unrecorded Unconditional Purchase Obligations Disclosure


	Payments due in:
	Total		Less than 1 year		1-3 years		4-5 years		Thereafter
Purchase obligations	$	14,637	$	6,519	$	5,674	$	2,444	$	—

Segment Reporting - Reconciliation of Net Income to Economic Earnings (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting [Abstract]
Net income	$ (3,125)	$ (1,175)	$ (378)	$ 50	$ 2,813	$ 1,879	$ 970	$ 4,101	$ 10,571	$ (4,628)	$ 9,763
Restricted stock expense									6,518	6,001	5,835
Amortization of intangible assets									$ 4,149	$ 1,889	$ 1,624

- Definition

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

+ References

+ Details

Investments (Trading Securities FV) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investment balances
Cost	$ 32,717	$ 16,121
Gross Unrealized Gains	320	143
Gross Unrealized Losses	(363)	(922)
Investments in trading securities	32,674	15,342
Trading Securities, Unrealized Holding Gain	320	143
Trading Securities, Unrealized Holding Loss	363	922
Trading Securities, Cost	32,717	16,121
Investment Owned, at Cost	32,982	19,861
Investments in trading securities	32,674	15,342
Unrealized Gain on Securities	327	143
Unrealized Loss on Securities	(394)	(1,635)
Investment Owned, at Fair Value	32,915	18,369
Unrealized Gain (Loss) on Investments	6	(1,495)	$ (1,797)
U.S. Government securities
Investment balances
Cost	22,522	5,728
Gross Unrealized Gains	14	0
Gross Unrealized Losses	(75)	(389)
Investments in trading securities	22,461	5,339
Trading Securities, Unrealized Holding Gain	14	0
Trading Securities, Unrealized Holding Loss	75	389
Trading Securities, Cost	22,522	5,728
Investments in trading securities	22,461	5,339
Money market funds
Investment balances
Cost	5,367	4,093
Gross Unrealized Gains	111	111
Gross Unrealized Losses	0	0
Investments in trading securities	5,478	4,204
Trading Securities, Unrealized Holding Gain	111	111
Trading Securities, Unrealized Holding Loss	0	0
Trading Securities, Cost	5,367	4,093
Investments in trading securities	5,478	4,204
Equity funds
Investment balances
Cost	4,295	4,863
Gross Unrealized Gains	195	32
Gross Unrealized Losses	(260)	(446)
Investments in trading securities	4,230	4,449
Trading Securities, Unrealized Holding Gain	195	32
Trading Securities, Unrealized Holding Loss	260	446
Trading Securities, Cost	4,295	4,863
Investments in trading securities	4,230	4,449
Private investment fund
Investment balances
Investment Owned, at Cost	265	265
Unrealized Gain on Securities	7	0
Unrealized Loss on Securities	(31)	(30)
Investment Owned, at Fair Value	241	235
Private equity
Investment balances
Gross Unrealized Losses		(683)
Trading Securities, Unrealized Holding Loss		683
Investment Owned, at Cost		3,475
Unrealized Gain on Securities		0
Investment Owned, at Fair Value		2,792
Equity Securities
Investment balances
Cost		1,278
Gross Unrealized Gains		0
Gross Unrealized Losses		(65)
Investments in trading securities		1,213
Trading Securities, Unrealized Holding Gain		0
Trading Securities, Unrealized Holding Loss		65
Trading Securities, Cost		1,278
Investments in trading securities		1,213
Debt Securities, Trading, Amortized Cost	381
Debt Securities, Trading, Unrealized Gain	0
Debt Securities, Trading, Unrealized Loss	(24)
Debt Securities, Trading	357
us-gaap_EquitySecuritiesMember
Investment balances
Debt Securities, Trading, Amortized Cost	152	159
Debt Securities, Trading, Unrealized Gain	0	0
Debt Securities, Trading, Unrealized Loss	(4)	(22)
Debt Securities, Trading	$ 148	$ 137

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES:

Purchase commitments

Our purchase commitments primarily consist of outsourced information technology services, software licenses and commitments for financial research tools. As of December 31, 2023, our purchase commitments for the next five years and thereafter were as follows (in thousands):


	Payments due in:
	Total		Less than 1 year		1-3 years		4-5 years		Thereafter
Purchase obligations	$	14,637	$	6,519	$	5,674	$	2,444	$	—

Summary of Significant Accounting Policies New Accounting Pronouncements or Change in Accounting Principle (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for income taxes	$ 2,872,000	$ (567,000)	$ 4,240,000
Effective Income Tax Rate Reconciliation, Percent	23.20%	10.90%	30.30%
Operating Lease, Right-of-Use Asset	$ 3,673,000	$ 4,976,000
Operating Lease, Payments	1,774,000	1,762,000	$ 1,990,000
Operating Lease, Liability, Noncurrent	3,266,000	4,563,000
Operating Lease, Liability, Current	$ 1,286,000	$ 1,502,000

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 50
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147477123/405-50-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
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Reference 88: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Regulatory Capital Requirements (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Banking and Thrift [Abstract] (Deprecated 2020)
Banking Regulation, Tangible Capital, Minimum	$ 4,000,000
Banking Regulation, Tangible Capital, Excess, Actual	11,100,000
SCLP net capital	558,000	$ 320,000
SCLP net capital excess	526,000	315,000
SCLP minimum net capital	$ 32,000	$ 5,000

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Future contractual rental payments for non-cancelable operating leases
Purchase Obligation	$ 14,637
Purchase Obligation, to be Paid, Year One	6,519
Purchase Obligation, to be Paid, Year Two	5,674
Purchase Obligation, to be Paid, Year Four	$ 2,444

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor [Line Items]
Auditor Location	Dallas, Texas
Auditor Name	BDO USA, P.C.
Auditor Firm ID	243

Segment Reporting

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING:

We operate two segments: Advisory and Trust. These segments are managed separately based on the types of products and services offered and their related client bases. The Company’s segment information is prepared on the same basis that management uses to review the financial information for operational decision-making purposes.

The Company's Chief Operating Decision Maker, our Chief Executive Officer, evaluates the performance of our segments based primarily on fee revenues.

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. Salient and Westwood Management, which provide investment advisory services to similar clients, are included in our Advisory segment.

Trust

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


(in thousands)	Advisory		Trust		Westwood Holdings		Eliminations		Consolidated
Year Ended December 31, 2023
Revenues:
Net fee revenues from external sources	$	68,656	$	20,591	$	—	$	—	$	89,247
Net intersegment revenues	6,270		279		—		(6,549)		—

Other revenue	534		—		—		—		534
Total revenues	75,460		20,870		—		(6,549)		89,781












Net income (loss)	$	14,636	$	1,776	$	(5,841)	$	—	$	10,571






Segment assets	$	285,179	$	46,754	$	14,256	$	(191,022)	$	155,167
Segment goodwill	$	23,100	$	16,401	$	—	$	—	$	39,501
Segment equity method investments	$	4,284	$	—	$	—	$	—	$	4,284
Expenditures for long-lived assets	$	135	$	94	$	(82)	$	—	$	147

Year Ended December 31, 2022
Revenues:
Net fee revenues from external sources	$	47,703	$	21,686	$	—	$	—	$	69,389
Net intersegment revenues	2,080		336		—		(2,416)		—

Other revenue	(708)		—		—		—		(708)
Total revenues	49,075		22,022		—		(2,416)		68,681












Net income (loss)	$	11,062	$	1,005	$	(16,695)	$	—	$	(4,628)






Segment assets	$	283,027	$	53,644	$	30,308	$	(220,552)	$	146,427
Segment goodwill	$	19,331	$	16,401	$	—	$	—	$	35,732
Segment equity method investments	$	6,574	$	—	$	—	$	—	$	6,574
Expenditures for long-lived assets	$	137	$	84	$	99	$	—	$	320

Year Ended December 31, 2021
Revenues:
Net fee revenues from external sources	$	49,262	$	24,131	$	—	$	—	$	73,393
Net intersegment revenues	2,415		356		—		(2,771)		—

Other revenue	(339)		—		—		—		(339)
Total revenues	51,338		24,487		—		(2,771)		73,054











Net income (loss)	$	16,780	$	5,656	$	(12,673)	$	—	$	9,763






Segment assets	$	222,335	$	56,965	$	12,784	$	(152,479)	$	139,605
Segment goodwill	$	—	$	16,401	$	—	$	—	$	16,401
Expenditures for long-lived assets	$	66	$	61	$	51	$	—	$	178

Geographical information

Refer to Note 4, “Revenue” for our revenue disaggregated by our clients' geographical location. As of December 31, 2023 and 2022, all of our property and equipment was in the United States.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Concentration (Details Textual) - Customers	12 Months Ended
Concentration (Details Textual) - Customers	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Customer Concentration Risk
Concentration Risk [Line Items]
Revenue accounted by major clients	21.00%	22.00%
Customer Relationships [Member]
Concentration Risk [Line Items]
Revenue accounted by major clients	10.00%
Sales Revenue, Net \| Customer Concentration Risk
Concentration Risk [Line Items]
Number of largest clients		10	10

Employee Benefits (Performance Grants and Vests) (Details) - Restricted Shares Subject to Service and Performance Conditions - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	0	6,243
Vested (in dollars per share)	$ 6.24
Weighted-average grant date fair value for shares granted and the total fair value of shares vested
Fair value of shares vested (in thousands)	$ 39	$ 235	$ 913
Vested, shares	6,243
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 0	$ 37.42

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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+ Details

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Values of Assets Within Fair Value Hierarchy

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


	Level 1		Level 2		Level 3		Measured at NAV (1)		Total
As of December 31, 2023
Investments in trading securities	$	32,674	$	—	$	—	$	—	$	32,674
Private investment fund	—		—		—		241		241

Total assets measured at fair value	$	32,674	$	—	$	—	$	241	$	32,915
Salient Acquisition contingent consideration	$	—	$	—	$	10,133	$	—	$	10,133
Total liabilities measured at fair value	$	—	$	—	$	10,133	$	—	$	10,133

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 allow reconciliation of the fair value hierarchy to the amounts presented on our Consolidated Balance Sheets.

Prior to our exchange of Charis shares for shares in Vista, our investment in Charis was included within Level 3 of the fair value hierarchy as we valued 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 in a transaction in which the Company exchanged its shares in Charis for shares in Vista.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

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


	Years ended December 31,
	2023		2022
Beginning balance	$	2,792	$	4,369

Exchange of shares	(2,792)		—
Net change in unrealized appreciation (depreciation) on private investments	—		(1,577)
Ending balance	$	—	$	2,792

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


	Years ended December 31,
	2023		2022
Beginning balance	$	12,901	$	—
Acquisition	—		12,901
Total (gains) losses included in earnings	(2,768)		—
Ending balance	$	10,133	$	12,901

The December 31, 2023 contingent consideration fair value of $10.1 million was valued based upon updated revenue growth projections and financial inputs. The fair value of contingent consideration related to both the revenue retention earn-out and the growth earn-out is measured using the Monte Carlo simulation model, which considered assumptions including revenue

growth projections, revenue volatility, risk free rates and discount rates. The projected contingent payment is discounted to the current period using a discounted cash flow model. Increases or decreases in projected revenues, probabilities of payment, discount rates, projected payment dates and other inputs may result in significantly higher or lower fair value measurements.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Revenue, Net	$ 534,000	$ (708,000)	$ (339,000)
Total revenues	89,781,000	68,681,000	73,054,000
Employee compensation and benefits	52,918,000	40,124,000	42,532,000
Amortization of intangible assets	4,149,000	1,889,000	1,624,000
Unrealized Gain (Loss) on Investments	6,000	(1,495,000)	(1,797,000)
Net interest and dividend revenue	1,191,000	266,000	868,000
Other Income	6,241,000	907,000	602,000
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	13,443,000	(5,195,000)	14,003,000
Provision for income taxes	2,872,000	(567,000)	4,240,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 10,571,000	$ (4,628,000)	$ 9,763,000
Basic (in dollars per share)	$ 1.20	$ (0.59)	$ 1.24
Diluted (in dollars per share)	$ 1.17	$ (0.59)	$ 1.23
Sales and marketing	$ 2,990,000	$ 2,003,000	$ 1,280,000
Westwood mutual funds	3,133,000	2,201,000	2,657,000
Information technology	9,650,000	7,719,000	8,161,000
Professional services	5,132,000	5,357,000	4,391,000
General and administrative	12,512,000	9,057,000	8,074,000
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized	209,000	7,093,000
Operating Expenses	83,776,000	73,554,000	67,095,000
Operating Income (Loss)	6,005,000	(4,873,000)	5,959,000
Realized Investment Gains (Losses)	0	0	8,371,000
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest	1,051,000
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	9,520,000	(4,628,000)	9,763,000
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	10,571,000	(4,628,000)	9,763,000
Expenses:
Employee compensation and benefits	52,918,000	40,124,000	42,532,000
Sales and marketing	2,990,000	2,003,000	1,280,000
Westwood mutual funds	3,133,000	2,201,000	2,657,000
Information technology	9,650,000	7,719,000	8,161,000
Professional services	5,132,000	5,357,000	4,391,000
General and administrative	12,512,000	9,057,000	8,074,000
Foreign Currency Transaction Gain (Loss), before Tax	2,768,000	0	0
Operating Income (Loss)	6,005,000	(4,873,000)	5,959,000
Income (loss) before income taxes	13,443,000	(5,195,000)	14,003,000
Provision for income taxes	2,872,000	(567,000)	4,240,000
Net income (loss)	10,571,000	(4,628,000)	9,763,000
Other comprehensive income (loss), net of tax:
Total comprehensive income (loss)	$ 9,520,000	$ (4,628,000)	$ 9,763,000
Earnings (loss) per share:
Basic (in dollars per share)	$ 1.20	$ (0.59)	$ 1.24
Diluted (in dollars per share)	$ 1.17	$ (0.59)	$ 1.23
Weighted average shares outstanding:
Basic (in shares)	7,964,423	7,844,363	7,875,395
Diluted (in shares)	8,112,139	7,844,363	7,927,972
Unrealized Gain (Loss) on Investments	$ 6,000	$ (1,495,000)	$ (1,797,000)
Other Income	6,241,000	907,000	602,000
General and Administrative Expense [Member]
Amortization of intangible assets	4,100,000	1,900,000	1,600,000
Asset Management [Member]
Revenue from Contract with Customer, Including Assessed Tax	67,391,000	46,685,000	45,927,000
Investment Performance [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,265,000	1,018,000	3,335,000
Fiduciary and Trust [Member]
Revenue from Contract with Customer, Including Assessed Tax	20,242,000	21,686,000	24,030,000
Trust performance-based fees [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 349,000	$ 0	$ 101,000

Employee Benefits (Profit Sharing and 401k) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit sharing and 401(k) contributions for the periods
Profit-sharing contributions, net	$ 0	$ 0	$ 13
Retirement plan matching contributions	$ 1,616	$ 1,295	$ 1,256

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 20,422,000	$ 23,859,000
Accounts Receivable, after Allowance for Credit Loss	14,394,000	13,900,000
Investments, at fair value	32,674,000	15,342,000
Prepaid Taxes	205,000	446,000
Other current assets	4,543,000	4,645,000
Total current assets	72,238,000	58,192,000
Long-term Investments	7,247,000	4,455,000
Equity Method Investments	4,284,000	6,574,000
Goodwill	39,501,000	35,732,000
Deferred income taxes	726,000	1,762,000
Intangible assets, net	24,803,000	28,952,000
Property and equipment, net of accumulated depreciation of $10,078 and $9,277	1,444,000	1,828,000
Assets	155,167,000	146,427,000
Current Liabilities:
Accounts payable and accrued liabilities	6,130,000	5,678,000
Dividends payable	1,692,000	1,745,000
Compensation and benefits payable	9,539,000	8,689,000
Total current liabilities	18,647,000	17,614,000
Accrued dividends	675,000	701,000
Asset Acquisition, Contingent Consideration, Liability	10,133,000	12,901,000
Total long-term liabilities	14,074,000	18,165,000
Total liabilities	32,721,000	35,779,000
Commitments and contingencies
Stockholders’ Equity:
Common stock, $0.01 par value, authorized 25,000,000 shares, issued 11,856,737 and 11,527,544, respectively and outstanding 9,140,760 and 8,881,831, respectively	119,000	115,000
Additional paid-in capital	201,622,000	199,914,000
Treasury stock, at cost – 2,715,977 and 2,645,713, respectively	(85,990,000)	(85,128,000)
Retained earnings (accumulated deficit)	4,650,000	(4,253,000)
Total Westwood Holdings Group, Inc. stockholders’ equity	120,401,000	110,648,000
Noncontrolling Interest	2,045,000
Stockholders' Equity, Total	122,446,000	110,648,000
Total liabilities and stockholders’ equity	155,167,000	146,427,000
Operating Lease, Right-of-Use Asset	3,673,000	4,976,000
Other Assets, Noncurrent	1,010,000	929,000
Assets, Noncurrent [Abstract]	82,929,000	88,235,000
Operating Lease, Liability	4,552,000	6,065,000
Operating Lease, Liability, Current	1,286,000	1,502,000
Operating Lease, Liability, Noncurrent	3,266,000	4,563,000
Other Long-term Investments	$ 241,000	$ 3,027,000

Concentration (Tables)

12 Months Ended

Dec. 31, 2023

Risks and Uncertainties [Abstract]

Concentration


	Years ended December 31,
	2023			2022			2021
Advisory fees from our largest client:
Asset-based fees	$	3,892		$	2,582		$	2,682

Percent of fee revenue	4.4		%	3.7		%	3.7		%

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Earnings Per Share, Policy [Policy Text Block]

There were approximately 63,000, 120,000 and 116,000 anti-dilutive restricted shares as of December 31, 2023, 2022 and 2021, respectively, which were excluded from weighted average shares outstanding.

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


	Years ended December 31,
	2023		2022		2021
Comprehensive income (loss) attributable to Westwood Holdings Group, Inc.	$	9,520	$	(4,628)	$	9,763

Weighted average shares outstanding – basic	7,964,423		7,844,363		7,875,395
Dilutive potential shares from unvested restricted shares	147,716		—		52,577

Weighted average shares outstanding – diluted	8,112,139		7,844,363		7,927,972
Earnings (loss) per share:
Basic	$	1.20	$	(0.59)	$	1.24
Diluted	$	1.17	$	(0.59)	$	1.23

Principles of consolidation

Principles of Consolidation

The accompanying Consolidated Financial Statements include the accounts of Westwood and its subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation.

We assess each legal entity that we manage to determine whether consolidation is appropriate at the onset of the relationship. We first determine whether the entity is a variable interest entity (“VIE”), or a voting interest entity (“VOE”), under GAAP and whether we have a controlling financial interest in the entity. Assessing whether or not an entity is a VOE or VIE and if it requires consolidation involves judgment and analysis. Factors considered in this assessment include, but are not limited to, the legal organization of the entity, our equity ownership and contractual involvement with the entity and any related party or de facto agent implications of our involvement with the entity. We reconsider whether entities are a VIE or VOE whenever contractual arrangements change, the entity receives additional equity or returns equity to its investors or changes in facts and circumstances occur that change investors’ abilities to direct the activities of the entity.

A VIE is an entity in which (i) the total equity investment at risk is not sufficient to enable the entity to finance its activities without subordinated financial support, (ii) the at-risk equity holders, as a group, lack the characteristics of a controlling financial interest or (iii) the entity is structured with disproportionate voting rights, and substantially all of the activities are conducted on behalf of an investor with disproportionately few voting rights. That is, the at-risk equity holders do

not have the obligation to absorb significant losses, the right to receive residual returns and the right to direct the activities of the entity that most significantly impact the entity’s economic performance. An enterprise must consolidate all VIEs of which it is the primary beneficiary. We determine if a sponsored investment meets the definition of a VIE by considering whether the fund’s equity investment at risk is sufficient to finance its activities without additional subordinated financial support and whether the fund’s at-risk equity holders absorb any losses, have the right to receive residual returns and have the right to direct the activities of the entity most responsible for the entity’s economic performance. The primary beneficiary of a VIE is defined as the party that, considering the involvement of related parties and de facto agents, has (i) the power to direct the activities of the VIE that most significantly affect its economic performance and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. This evaluation is updated on a continuing basis.

A VOE is an entity that is outside the scope of the guidance for VIEs. Consolidation of a VOE is required when a reporting entity owns a controlling financial interest in a VOE. Ownership of a majority of the voting interests is the usual condition for a controlling financial interest.

We evaluated (i) our relationship as sponsor of the Common Trust Funds (“CTFs”) and managing member of the private equity funds Westwood Hospitality, Westwood Technology Opportunities Fund I, LP and Westwood Energy Secondaries (collectively the “Private Funds”), (ii) our advisory relationships with the Westwood Funds® and (iii) our investments in InvestCloud, Vista, Zarvona Energy Fund GP and Zarvona Energy Fund II-A as discussed in Note 6 “Investments” (“Private Equity”) to determine whether each of these entities is a variable interest entity (“VIE”) or voting ownership entity (“VOE”).

Based on our analyses, we determined that the CTFs, Private Funds and Zarvona Energy Fund II-A were VIEs, as the at-risk equity holders do not have the ability to direct the activities that most significantly impact the entities' economic performance, and, while the Company and its representatives have a majority control of the entities' respective boards of directors and can influence the respective entities' management and affairs, the Company is not exposed to a majority of the economics of those entities and does not qualify as primary beneficiaries for those entities. We have not consolidated our investments in those entities for the periods ending December 31, 2023 and 2022.

Based on our analyses, we determined the Westwood Funds®, InvestCloud, Vista, and Zarvona Energy Fund GP (i) have sufficient equity at risk to finance the entities' activities independently, (ii) have the obligation to absorb losses, the right to receive residual returns and the right to direct the activities of the entities that most significantly impact the entities' economic performance and (iii) are not structured with disproportionate voting rights and are VOEs. As we do not own controlling financial interests in those entities, we have not consolidated our investments in those entities for the periods ending December 31, 2023 and 2022.

Use of Estimates

The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses in the financial statements. Such estimates include, but are not limited to, the Company's estimates in connection with values of long lived assets, provision for income tax, goodwill, intangible assets, contingent consideration and accrued expenses. Actual results could differ significantly from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents consist of money market accounts and other short-term, highly liquid investments with maturities of three months or less, other than pooled investment vehicles that are considered investments. We maintain some cash and cash equivalents balances with financial institutions that are in excess of Federal Deposit Insurance Corporation insurance limits. The Company has not experienced losses on uninsured cash accounts, which are held at large, well-capitalized financial institutions.

Accounts Receivable

Accounts receivable represents balances arising from services provided to customers and are recorded on an accrual basis, net of any allowance for credit losses. Accounts receivable are written off when they are determined to be uncollectible. Any allowance for doubtful accounts is estimated based on the Company’s historical amounts written off, existing conditions in the industry, and the financial stability of the customer. The majority of our accounts receivable balances consist of advisory and trust fees receivable from customers that we believe are, and have experienced to be, fully collectible. Accordingly, our Consolidated Financial Statements include neither an allowance for credit losses, nor provision for credit losses.

Investments

Investments that are measured at fair market value are classified as trading securities and are carried at quoted market values on the accompanying Consolidated Balance Sheets. Net unrealized holding gains or losses on investments classified as

trading securities are reflected as a component of other revenues. We measure realized gains and losses on investments using the specific identification method.

For an investment without a readily determinable fair value, the Company has elected to apply the measurement alternative of cost minus impairment, if any, plus or minus changes resulting from observable price changes. The Company will reassess whether such an investment qualifies for the measurement alternative at each reporting period. In evaluating an investment for impairment or observable price changes, we will use inputs including recent financing events, as well as other available information regarding the investee's historical and forecasted performance.

Fair Value of Financial Instruments

ASC 820, Fair Value Measurements ("ASC 820") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We determined the estimated fair values of our financial instruments using available information. The fair value amounts discussed in Notes 6 “Investments” and 7 “Fair Value Measurements” are not necessarily indicative of either the amounts realizable upon disposition of these instruments or of our intent or ability to dispose of these assets. The estimated fair value of cash and cash equivalents, included in Level 1 of the fair value hierarchy as discussed in Note 7 "Fair Value Measurements", approximates their carrying value due to their short-term maturities. The carrying amount of investments designated as “trading” securities, primarily U.S. Government securities, money market funds, equity funds, equities and exchange-traded bond funds, equals fair value based on prices quoted in active markets and, with respect to funds, the reported net asset value (“NAV”) of the shares held. Market values of our money market holdings generally do not fluctuate.

Our investments in InvestCloud and Vista are measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes.

Our investment in Westwood Hospitality is measured at fair value using NAV as a practical expedient.

Goodwill and Other Intangible Assets

Goodwill represents the excess of the cost of acquired assets over the fair value of the underlying liabilities assumed at the date of acquisition. Goodwill is tested at least annually for impairment.

We test more frequently if indicators are present or changes in circumstances suggest that impairment may exist. These indicators include declines in revenues, earnings or cash flows, or the development of a material adverse change in the business climate. We assess goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, which is referred to as a component. We have identified two reporting units, which are consistent with our reporting segments: Advisory and Trust. The Company is not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that its fair value is less than the carrying amount. We assess goodwill for impairment using either a qualitative or quantitative assessment. The qualitative assessment includes consideration of the current trends in the industry in which we operate, macroeconomic conditions and recent financial performance of our reporting units. The quantitative analysis requires a comparison of each reporting unit’s carrying value to the fair value of the respective unit. An impairment charge would be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The fair value of each reporting unit is estimated using a market multiple approach and an income approach.

We completed our most recent annual goodwill impairment assessment during the third quarter of 2023, and determined that no goodwill impairment related to the Advisory and Trust segments was required. There was no goodwill impairment in either segment during the years ended December 31, 2023, 2022 or 2021.

Our intangible assets represent the acquisition date fair value of the acquired client relationships, trade names, non-compete agreements and the cost of internally-developed software, each of which is reflected net of amortization. In valuing these assets, we made significant estimates regarding their useful lives, growth rates and potential attrition. We periodically review our intangible assets for events or circumstances that would indicate impairment. See Note 11 “Goodwill and Other Intangible Assets.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. Depreciation of furniture and equipment is provided over the estimated useful lives of the assets (from 3 to 7 years), and depreciation on leasehold improvements is provided over the lesser of the estimated useful life or lease term using the straight-line method. We capitalize leasehold improvements, furniture and fixtures, computer hardware and most office equipment purchases. We include depreciation in the “General and administrative” line on our Consolidated Statements of Comprehensive Income (Loss).

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

Revenues are recognized when the performance obligation (the investment management and advisory or trust services provided to the client) defined by the investment advisory or sub-advisory agreement is satisfied. For each performance obligation, we determine at contract inception whether the revenue satisfies over time or at a point in time. We derive our revenues from investment advisory fees, trust fees and other sources of revenues such as gains and losses from our seed money investments into net investment strategies. The "Other, net” revenues on our Consolidated Statements of Comprehensive Income (Loss) 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 Consolidated Balance Sheets. Our seed money investments were $3.0 million and $7.3 million at December 31, 2023 and 2022, respectively. Advisory and Trust fees are calculated based on a percentage of AUM and AUA, and the performance obligation is realized over the then-current calendar quarter. Once clients receive our investment advisory services we have an enforceable right to payment.

Incremental costs to obtain a contract are eligible to be capitalized if the costs are expected to be recovered over the service period. We incur certain incremental costs in obtaining new business and continually evaluate whether costs should be capitalized and amortized over the expected period of benefit of the asset. Certain costs used to fulfill a contract such as the distribution services utilized to sell our Westwood Funds® are expensed as incurred. We recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less.

Stock Based Compensation

Stock-Based Compensation

We have issued restricted stock to certain U.S. employees and Board of Directors (the "Board") in accordance with our Ninth Amended and Restated Westwood Holdings Group, Inc. Stock Incentive Plan (the “Plan”).

Stock-based compensation expense reflects the fair value of stock-based awards measured at grant date and is recognized over the relevant service period. We expense the fair value of stock-based compensation awards granted to our employees and directors in our Consolidated Financial Statements on a straight-line basis over the period that services are required to be provided in exchange for the award (“requisite service period”), which is typically the period over which the award vests. Stock-based compensation is recognized only for awards that vest. We measure the fair value of compensation cost related to restricted stock awards based on the closing market price of our common stock on the grant date. For performance-based share awards, we assess actual performance versus the predetermined performance goals and record compensation expense once we conclude it is probable that we will meet the performance goals required to vest the applicable performance-based awards. We account for restricted stock forfeitures as they occur.

Income Taxes

We file a U. S. federal income tax return as a consolidated group for Westwood and its U.S.-based subsidiaries. Deferred income tax assets and liabilities are determined based on temporary differences between the financial statements and income tax bases of assets and liabilities as measured at enacted income tax rates.

Deferred income tax expense is generally the result of changes in deferred tax assets and liabilities. Deferred taxes relate primarily to incentive compensation and stock-based compensation expense. We record net deferred tax assets to the extent we believe such assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event we were to determine that we would not be able to realize our deferred income tax assets in the future, we would record a valuation allowance. No such valuation allowance has been recorded in our Consolidated Financial Statements.

We account for uncertain tax positions by recognizing the impact of a tax position in our Consolidated Financial Statements when we believe it is more likely than not that the tax position would not be sustained upon examination by the appropriate tax authority based on the merits of the position. We include penalties and interest on income-based taxes, if any, in the “General and administrative” line on our Consolidated Statements of Comprehensive Income (Loss). See Note 9 “Income Taxes.”

Leases

We determine if an arrangement contains a lease at inception, and leases are classified as either operating or finance leases at the lease commencement date. An arrangement contains a lease if it implicitly or explicitly identifies an asset to be used and conveys the right to control the use of the identified asset in exchange for consideration.

Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized upon commencement of the lease based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we generally use our estimated incremental borrowing rate at commencement date to determine the present value of lease payments. When readily determinable, we use the rate implicit in the lease.

Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.

Lease expense for operating leases and short-term leases is recognized on a straight-line basis over the lease term. Expenses associated with operating leases are recorded in “General and administrative” expenses on our Consolidated Statements of Comprehensive Income (Loss). Short-term leases with a term of 12 months or less are not capitalized.

Business Combinations

In allocating the purchase price of a business combination, the Company records all assets acquired and liabilities assumed at fair value, with the excess of the purchase price over the aggregate fair values recorded as goodwill. The purchase price of an acquisition is allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values as of the date of acquisition. To the extent the purchase price exceeds the fair value of the net identifiable tangible and intangible assets acquired and liabilities assumed, such excess is allocated to goodwill. The Company determines the estimated fair values after review and consideration of relevant information, including discounted cash flows, quoted market prices and estimates made by management. The fair value assigned to identifiable intangible assets acquired is based on estimates and assumptions made by management at the time of the acquisition. The Company adjusts the preliminary purchase price allocation, as necessary, during the measurement period of up to one year after the acquisition closing date as it obtains more information as to facts and circumstances existing as of the acquisition date. Acquisition-related costs are recognized separately from the acquisition and are expensed as incurred.

The acquired client relationships, trade names and non-compete agreements are subject to fair value measurements based primarily on significant inputs not observable in the market and thus represent level 3 measurements. The valuation of an acquired client relationship utilizes an income approach, which provides an estimate of the fair value of an asset based on discounted cash flows and management estimates, including the estimated growth associated with existing clients, market growth and client attrition. The valuation of acquired trade names uses a relief from royalty method in which the fair value of the intangible asset is estimated to be the present value of royalties saved because the Company owns the intangible asset. Revenue projections and estimated useful lives are used in estimating the fair value of the trade names. The non-compete agreements are calculated using the differential cash flow method (with-or-without method), which utilizes the probability of certain employees competing with the Company and revenue projections to calculate the valuation of non-competition agreements.

When an acquisition includes future contingent consideration on achieving certain milestones, the Company estimates the earn-out fair value using Monte Carlo simulation models. The Monte Carlo simulations considered assumptions including revenue volatility, risk free rates, discount rates and payment discount rates. The projected contingent payment is discounted back to the current period using a discounted cash flow model. Increases or decreases in projected revenues, probabilities of payment, discount rates or projected payment dates may result in higher or lower fair value measurements. Fluctuations in any of the inputs may result in a significantly lower or higher fair value measurement. A liability is recorded for the estimated fair value of the contingent consideration on the acquisition date, and the fair value of the contingent consideration is remeasured at each subsequent reporting period with any change in fair value recognized as income or expense within the Consolidated Statements of Comprehensive Income (Loss).

Equity Method Investments

Recent Accounting Pronouncements

Segment Reporting

In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires an entity to disclose significant segment expenses and other segment items on an annual and interim basis, and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, it requires an entity to disclose the title and position of the Chief Operating Decision Maker. This ASU does not change how an entity identifies its operating

segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. An entity should apply the amendments in this ASU retrospectively to all prior periods presented in the financial statements. We expect this ASU to impact our disclosures, with no impact to our results of operations, cash flows or financial condition.

Income Taxes

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the income tax rate reconciliation and income taxes paid. ASU 2023-09 requires an entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories, with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign, and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. The new standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. An entity may apply the amendments in this ASU prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU disclosures for the prior periods, or may apply the amendments retrospectively by providing the revised disclosures for all period presented. We expect this ASU to impact our disclosures, with no impact to our results of operations, cash flows, or financial condition.

Equity Method Investments

Investments in entities where we have the ability to exercise significant influence, but do not control, are accounted for under the equity method of accounting and are included in "Equity method investments" on our Consolidated Balance Sheets. Significant influence typically exists if we have a 20% to 50% ownership interest in the investee. We evaluate our equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may be impaired. If a decline in the value of an equity method investment is determined to be other than temporary, a loss is recorded in earnings in the current period.

The Company’s proportionate share of the net income or loss of equity method investments is included in "Other income" on the Consolidated Statements of Comprehensive Income (Loss), and any dividends received reduce the carrying value of the investment.

Earnings Per Share (Anti-dilutive Shares) (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive restricted shares or options	63,000	120,000	116,000

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE MEASUREMENTS:

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

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

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

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

Our strategic investments in InvestCloud and Vista, discussed in Note 6 "Investments" are excluded from the recurring fair value table shown below, as we have elected to apply the measurement alternative for those investments.

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


	Level 1		Level 2		Level 3		Measured at NAV (1)		Total
As of December 31, 2023
Investments in trading securities	$	32,674	$	—	$	—	$	—	$	32,674
Private investment fund	—		—		—		241		241

Total assets measured at fair value	$	32,674	$	—	$	—	$	241	$	32,915
Salient Acquisition contingent consideration	$	—	$	—	$	10,133	$	—	$	10,133
Total liabilities measured at fair value	$	—	$	—	$	10,133	$	—	$	10,133

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 allow reconciliation of the fair value hierarchy to the amounts presented on our Consolidated Balance Sheets.

- Definition

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

+ References + Details

Concentration (Details) - USD ($) $ in Thousands	12 Months Ended
Concentration (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 89,781	$ 68,681	$ 73,054
Customer Concentration Risk
Concentration Risk [Line Items]
Revenue accounted by major clients	21.00%	22.00%
Westwood Management \| Sales Revenue, Net \| Customer Concentration Risk
Concentration Risk [Line Items]
Revenue accounted by major clients	4.40%	3.70%	3.70%
Asset Management [Member] \| Sales Revenue, Net \| Customer Concentration Risk
Concentration Risk [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 3,892	$ 2,582	$ 2,682

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Employee Benefits (Details 1) - Restricted Shares Subject Only to a Service Condition	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Restricted shares subject only to a service condition:
Non-vested, January 1, 2015 (in shares) \| shares	1,098,008
Granted (in shares) \| shares	507,244
Vested (in shares) \| shares	(294,340)
Forfeited (in shares) \| shares	(178,051)
Non-vested, December 31, 2015 (in shares) \| shares	1,132,861
Non-vested, January 1, 2015 (in dollars per share) \| $ / shares	$ 15.49
Granted (in dollars per share) \| $ / shares	12.26
Vested (in dollars per share) \| $ / shares	20.66
Forfeited (in dollars per share) \| $ / shares	13.99
Non-vested, December 31, 2015 (in dollars per share) \| $ / shares	$ 12.94

Concentration

12 Months Ended

Dec. 31, 2023

Risks and Uncertainties [Abstract]

CONCENTRATION

CONCENTRATION:

For the years ended December 31, 2023, our ten largest clients accounted for approximately 21% of our fee revenue. For the years ended December 31, 2022 and 2021, our ten largest clients accounted for approximately 22% of our fee revenue. No single customer accounted for 10% or more of our fee revenues in any of these years. The following table presents advisory fee revenue received from our single largest client in each year (in thousands):


	Years ended December 31,
	2023			2022			2021
Advisory fees from our largest client:
Asset-based fees	$	3,892		$	2,582		$	2,682

Percent of fee revenue	4.4		%	3.7		%	3.7		%

Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investment Balances

All other investments are carried at fair value on a recurring basis and are accounted for as trading securities.

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


	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
December 31, 2023:
U.S. Government securities	$	22,522	$	14	$	(75)	$	22,461
Money market funds	5,367		111		—		5,478
Equity funds	4,295		195		(260)		4,230
Equities	381		—		(24)		357
Exchange-traded bond funds	152		—		(4)		148
Total trading securities	$	32,717	$	320	$	(363)	$	32,674
Private investment fund	265		7		(31)		241

Total investments carried at fair value	$	32,982	$	327	$	(394)	$	32,915

December 31, 2022:
U.S. Government securities	$	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

Other Revenue

The following amounts represent income from all investments, except for income tax amounts, are included in our Consolidated Statements of Comprehensive Income (Loss) under the headings “Other revenues, net," "Net change in unrealized appreciation (depreciation) on private investments," or "Investment Income" (in thousands):


	For the Years Ended December 31,
	2023		2022		2021
Realized gains	$	73	$	1	$	41
Realized losses	(190)		(363)		(212)
Net realized gains (losses)	$	(117)	$	(362)	$	(171)
Income tax expense from gains (losses)	$	(25)	$	(76)	$	(36)
Interest income – trading	$	640	$	414	$	716
Dividend income	$	61	$	90	$	35
Unrealized gains/(losses)	$	1,425	$	(2,131)	$	923

Investments Private Equity Investment (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments, All Other Investments [Abstract]
Long-term Investments	$ 7,247	$ 4,455

Employee Benefits (Details Textual) - USD ($)	12 Months Ended
Employee Benefits (Details Textual) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	350,000
Amount of shares purchased in the open market	$ 0	$ 2,851,000	$ 2,990,000
Dividends payable	1,692,000	1,745,000
Accrued dividends	675,000	701,000
Stock-based compensation expense	6,518,000	6,001,000	5,835,000
Amortization of intangible assets	4,149,000	1,889,000	1,624,000
Mutual fund incentive award expense	700,000	600,000
Unvested mutual fund awards	2,000,000
Mutual fund award liability	1,500,000	1,000,000
General and Administrative Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amortization of intangible assets	$ 4,100,000	$ 1,900,000	$ 1,600,000
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)	6,248,100
Shares remain available for issuance	646,000
Vested, shares	294,340
Remaining unrecognized compensation cost	$ 9,400,000
Remaining unrecognized compensation cost recognized over a remaining weighted average period	2 years 4 months 24 days
Number of vested shares from employees on the date vesting	67,743
Nonvested restricted shares (in shares)	1,132,861	1,098,008
Restricted Stock \| Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares granted to employees vesting period	3 years
Restricted Stock \| Director
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares granted to employees vesting period	1 year
Mutual Fund [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Mutual fund vesting period	2 years
Benefit Plans [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	4 years
Percentage of compensation	6.00%

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2023
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. At both December 31, 2023 and at December 31, 2022, there was approximately $0.1 million in fees due from these accounts. For the years ended December 31, 2023 and 2022 we recorded trust fees from these accounts of $0.3 million. For the year ended December 31, 2021 we recorded trust fees from these accounts of $0.4 million. One director serves as a consultant to the Company under a consulting agreement for which we recorded expenses of $0.1 million for each of the years ended December 31, 2023, 2022 and 2021.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Segment Reporting (Details) - USD ($)	3 Months Ended								12 Months Ended
Segment Reporting (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenue From External Sources									$ 89,247,000	$ 69,389,000	$ 73,393,000
Net intersegment revenues									0	0	0
Net interest and dividend revenue									1,191,000	266,000	868,000
Other revenue									534,000	(708,000)	(339,000)
Total revenues	$ 20,456,000	$ 15,406,000	$ 15,603,000	$ 17,216,000	$ 19,391,000	$ 17,860,000	$ 17,484,000	$ 18,319,000	89,781,000	68,681,000	73,054,000
Expenses:
Total expenses									83,776,000	73,554,000	67,095,000
Realized Investment Gains (Losses)									0	0	8,371,000
Income (loss) before income taxes	(4,313,000)	(1,021,000)	(458,000)	594,000	3,213,000	2,360,000	1,416,000	7,014,000	13,443,000	(5,195,000)	14,003,000
Income tax provision									2,872,000	(567,000)	4,240,000
Net income	(3,125,000)	$ (1,175,000)	$ (378,000)	$ 50,000	2,813,000	$ 1,879,000	$ 970,000	$ 4,101,000	10,571,000	(4,628,000)	9,763,000
Restricted stock expense									6,518,000	6,001,000	5,835,000
Amortization of intangible assets									4,149,000	1,889,000	1,624,000
Deferred taxes on goodwill									(876,000)	(841,000)
Assets	155,167,000				146,427,000				155,167,000	146,427,000	139,605,000
Segment goodwill	39,501,000				35,732,000				39,501,000	35,732,000	16,401,000
Equity Method Investments	4,284,000				6,574,000				4,284,000	6,574,000
Expenditures for long-lived assets									147,000	320,000	178,000
Unrealized Gain (Loss) on Investments									6,000	(1,495,000)	(1,797,000)
Other Income									6,241,000	907,000	602,000
General and Administrative Expense [Member]
Expenses:
Amortization of intangible assets									4,100,000	1,900,000	1,600,000
Operating Segments \| Advisory [Member]
Segment Reporting Information [Line Items]
Revenue From External Sources									68,656,000	47,703,000	49,262,000
Net intersegment revenues									6,270,000	2,080,000	2,415,000
Other revenue									534,000	(708,000)	(339,000)
Total revenues									75,460,000	49,075,000	51,338,000
Expenses:
Net income									14,636,000	11,062,000	16,780,000
Assets	285,179,000				283,027,000				285,179,000	283,027,000	222,335,000
Segment goodwill	23,100,000				19,331,000				23,100,000	19,331,000	0
Equity Method Investments	4,284,000				6,574,000				4,284,000	6,574,000
Expenditures for long-lived assets									135,000	137,000	66,000
Operating Segments \| Trust [Member]
Segment Reporting Information [Line Items]
Revenue From External Sources									20,591,000	21,686,000	24,131,000
Net intersegment revenues									279,000	336,000	356,000
Other revenue									0	0	0
Total revenues									20,870,000	22,022,000	24,487,000
Expenses:
Net income									1,776,000	1,005,000	5,656,000
Assets	46,754,000				53,644,000				46,754,000	53,644,000	56,965,000
Segment goodwill	16,401,000				16,401,000				16,401,000	16,401,000	16,401,000
Equity Method Investments	0				0				0	0
Expenditures for long-lived assets									94,000	84,000	61,000
Westwood Holdings
Segment Reporting Information [Line Items]
Revenue From External Sources									0	0	0
Net intersegment revenues									0	0	0
Other revenue									0	0	0
Total revenues									0	0	0
Expenses:
Net income									(5,841,000)	(16,695,000)	(12,673,000)
Assets	14,256,000				30,308,000				14,256,000	30,308,000	12,784,000
Segment goodwill	0				0				0	0	0
Equity Method Investments	0				0				0	0
Expenditures for long-lived assets									(82,000)	99,000	51,000
Eliminations
Segment Reporting Information [Line Items]
Revenue From External Sources									0	0	0
Net intersegment revenues									(6,549,000)	(2,416,000)	(2,771,000)
Other revenue									0	0	0
Total revenues									(6,549,000)	(2,416,000)	(2,771,000)
Expenses:
Net income									0	0	0
Assets	(191,022,000)				(220,552,000)				(191,022,000)	(220,552,000)	(152,479,000)
Segment goodwill	0				0				0	0	0
Equity Method Investments	$ 0				$ 0				0	0
Expenditures for long-lived assets									$ 0	$ 0	$ 0

Income Taxes (Deferred Taxes) (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Stock-based compensation expense	$ 1,160	$ 1,138
Deferred rent	1,039	1,330
Compensation and benefits payable	1,465	1,328
Federal unrecognized tax benefit	0	4
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits	464	446
Deferred Other Tax Expense (Benefit)	876	841
Other	0	9
Total deferred tax assets	5,004	5,096
Deferred tax liabilities:
Property and equipment	(160)	(186)
Intangibles	(1,917)	(1,593)
Unrealized gains on investments	(614)	(318)
Total deferred tax liabilities	(4,278)	(3,334)
Net deferred tax assets	726	1,762
Deferred Tax Liabilities, Leasing Arrangements	(915)	(1,214)
Deferred Tax Liabilities, Financing Arrangements	(636)
Deferred Tax Liabilities, Other	$ (36)	$ (23)

Earnings Per Share (Computaton of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Computation of Basic and Diluted Shares
Net income (loss)	$ (3,125)	$ (1,175)	$ (378)	$ 50	$ 2,813	$ 1,879	$ 970	$ 4,101	$ 10,571	$ (4,628)	$ 9,763
Weighted average shares outstanding – basic (in shares)									7,964,423	7,844,363	7,875,395
Dilutive potential shares from unvested restricted shares (in shares)									147,716	0	52,577
Weighted average shares outstanding – diluted (in shares)									8,112,139	7,844,363	7,927,972
Earnings per share:
Basic (in dollars per share)	$ (0.40)	$ (0.15)	$ (0.05)	$ 0.01	$ 0.36	$ 0.24	$ 0.12	$ 0.52	$ 1.20	$ (0.59)	$ 1.24
Diluted (in dollars per share)	$ (0.40)	$ (0.15)	$ (0.05)	$ 0.01	$ 0.36	$ 0.24	$ 0.12	$ 0.52	$ 1.17	$ (0.59)	$ 1.23
Comprehensive Income (Loss), Net of Tax, Attributable to Parent									$ 9,520	$ (4,628)	$ 9,763

- Definition

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

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

+ References

+ Details

Segment Reporting - Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net property and equipment	$ 1,444	$ 1,828

Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2023

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results of Operations

The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2023 and 2022 (in thousands, except per share amounts):


	Quarter
	First		Second		Third		Fourth
2023
Revenues	$	17,216	$	15,603	$	15,406	$	20,456
Income (loss) before income taxes	594		(458)		(1,021)		(4,313)
Net income (loss)	50		(378)		(1,175)		(3,125)
Basic earnings (loss) per common share	0.01		(0.05)		(0.15)		(0.40)
Diluted earnings (loss) per common share	0.01		(0.05)		(0.15)		(0.40)

2022
Revenues	$	18,319	$	17,484	$	17,860	$	19,391
Income (loss) before income taxes	7,014		1,416		2,360		3,213
Net income (loss)	4,101		970		1,879		2,813
Basic earnings (loss) per common share	0.52		0.12		0.24		0.36
Diluted earnings (loss) per common share	0.52		0.12		0.24		0.36

Income Taxes (Effective tax rate reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Difference between the Federal corporate tax rate and the effective tax rate
Income tax provision computed at US federal statutory rate	$ 2,603	$ (1,091)	$ 2,935
Canadian rate differential	0	87	0
Other, net	(532)	(10)	(106)
Income tax provision	$ 2,872	$ (567)	$ 4,240
Income tax provision computed at US federal statutory rate, effective tax rate	21.00%	21.00%	21.00%
Canadian rate differential, effective tax rate	0.00%	(1.70%)	0.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	$ 349	$ 128	$ 372
State and local income taxes, net of federal income taxes, effective tax rate	2.80%	(2.50%)	2.70%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent	0.00%	0.00%	1.30%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount	$ 0	$ 0	$ 180
Other, net, effective tax rate	(4.20%)	0.20%	(0.80%)
Effective income tax rate	23.20%	10.90%	30.30%
State and local income taxes, net of federal income taxes, effective tax rate	2.80%	(2.50%)	2.70%
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 0	$ 2,792	$ 4,369
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Amount	$ 452	$ 319	$ 859
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Percent	3.60%	(6.10%)	6.10%
Effective Income Tax Rate Reconciliation, Tax Contingency, Amount [Abstract]
Income tax provision computed at US federal statutory rate, effective tax rate	21.00%	21.00%	21.00%
Canadian rate differential, effective tax rate	0.00%	(1.70%)	0.00%
Other, net, effective tax rate	(4.20%)	0.20%	(0.80%)
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	$ 349	$ 128	$ 372

Earnings Per Share (Policies)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share, Policy [Policy Text Block]

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


	Years ended December 31,
	2023		2022		2021
Comprehensive income (loss) attributable to Westwood Holdings Group, Inc.	$	9,520	$	(4,628)	$	9,763

Weighted average shares outstanding – basic	7,964,423		7,844,363		7,875,395
Dilutive potential shares from unvested restricted shares	147,716		—		52,577

Weighted average shares outstanding – diluted	8,112,139		7,844,363		7,927,972
Earnings (loss) per share:
Basic	$	1.20	$	(0.59)	$	1.24
Diluted	$	1.17	$	(0.59)	$	1.23

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2023	Jun. 30, 2023	Feb. 15, 2019
Document And Entity Information [Abstract]
Entity Central Index Key	0001165002
Document Type	10-K
Document Period End Date	Dec. 31, 2023
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float		$ 101,997,608
Entity Common Stock, Shares Outstanding			9,062,458
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Document Transition Report	false

Cover	12 Months Ended
Cover	Dec. 31, 2023
Cover [Abstract]
Document Type	10-K
Entity Incorporation, State or Country Code	DE
City Area Code	(214)
Local Phone Number	756-6900
Entity File Number	1-31234
Entity Address, City or Town	Dallas,
Entity Address, Postal Zip Code	75201
Entity Tax Identification Number	75-2969997
Entity Address, Address Line One	200 Crescent Court, Suite 1200
Trading Symbol	WHG
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Entity Address, State or Province	TX
Document Annual Report	true
Entity Information [Line Items]
Entity Filer Category	Non-accelerated Filer
Entity Registrant Name	WESTWOOD HOLDINGS GROUP, INC.
Entity Shell Company	false

Business Combinations and Asset Acquisitions (Tables)	12 Months Ended
Business Combinations and Asset Acquisitions (Tables)	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	18,900

Leases, Codification Topic 842 (Details) - USD ($)	12 Months Ended
Leases, Codification Topic 842 (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Other Long-term Investments	$ 241,000	$ 3,027,000
Lessee, Operating Lease, Liability, Payments, Due	1,842,000
Lessee, Operating Lease, Liability, Payments, Due Year Two	1,930,000
Lessee, Operating Lease, Liability, Payments, Due Year Three	707,000
Lessee, Operating Lease, Liability, Payments, Due Year Four	383,000
Lessee, Operating Lease, Liability, Payments, Due Year Five	389,000
Lessee, Operating Lease, Liability, Payments, Due after Year Five	288,000
Operating Lease, Payments	1,774,000	1,762,000	$ 1,990,000
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(987,000)
Operating Lease, Liability	4,552,000	6,065,000
Operating Lease, Cost	1,512,000	1,682,000	1,655,000
Sublease Income	862,000	771,000	602,000
Operating Lease, Right-of-Use Asset	3,673,000	4,976,000
Operating Lease, Liability, Current	1,286,000	1,502,000
Operating Lease, Liability, Noncurrent	$ 3,266,000	$ 4,563,000
Operating Lease, Weighted Average Remaining Lease Term	3 years 3 months 18 days	4 years 1 month 6 days
Operating Lease, Weighted Average Discount Rate, Percent	5.70%	5.60%
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 173,000	$ 1,217,000	$ 0
Operating Lease, Lease Income, Lease Payments	$ 5,539,000
Lessee, Operating Lease, Discount Rate	7.00%

Revenue (Notes)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

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).


	Year Ended December 31,
	2023		2022		2021
Advisory Fees:
Institutional	$	37,738	$	26,653	$	31,069
Mutual Funds	29,745		20,245		17,507
Wealth Management	1,172		805		686

Trust Fees	20,592		21,686		24,131

Other	534		(708)		(339)
Total revenues	$	89,781	$	68,681	$	73,054

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


Year Ended December 31, 2023	Advisory		Trust		Performance-based		Other		Total


Canada	$	1,105	$	—	$	—	$	—	$	1,105

U.S.	66,286		20,242		1,614		534		88,676
Total	$	67,391	$	20,242	$	1,614	$	534	$	89,781

Year Ended December 31, 2022	Advisory		Trust		Performance-based		Other		Total


Canada	1,171		—		—		—		1,171

U.S.	45,514		21,686		1,018		(708)		67,510
Total	$	46,685	$	21,686	$	1,018	$	(708)	$	68,681


Year Ended December 31, 2021	Advisory		Trust		Performance-based		Other		Total


Canada	1,163		—		—		—		1,163
Europe	638		—		262		—		900
U.S.	45,512		24,131		1,687		(339)		70,991
Total	$	47,313	$	24,131	$	1,949	$	(339)	$	73,054

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 13
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Income Taxes (by jurisdiction) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income (loss) before income taxes by jurisdiction
U.S.									$ 12,419	$ (5,112)	$ 13,989
Canada									(27)	(83)	14
Income (Loss) from Continuing Operations before Interest Expense, Interest Income, Income Taxes, Noncontrolling Interests, Net									12,392	(5,195)	14,003
Income (loss) before income taxes	$ (4,313)	$ (1,021)	$ (458)	$ 594	$ 3,213	$ 2,360	$ 1,416	$ 7,014	$ 13,443	$ (5,195)	$ 14,003

- Definition

+ References

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income (Loss) Before Income Taxes by Jurisdiction

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


	Years ended December 31,
	2023		2022		2021
U.S.	$	12,419	$	(5,112)	$	13,989
Canada	(27)		(83)		14
Total	$	12,392	$	(5,195)	$	14,003

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

The difference between the Federal corporate tax rate and the

effective tax rate is comprised of the following (in thousands).


	Years ended December 31,
	2023					2022					2021
Income tax provision computed at US federal statutory rate	$	2,603		21.0	%	$	(1,091)		21.0	%	$	2,935		21.0	%
Canadian rate differential	—			—		87			(1.7)		—			—
State and local income taxes, net of federal income taxes	349			2.8		128			(2.5)		372			2.7



Stock-based compensation	452			3.6		319			(6.1)		859			6.1




Compensation subject to Section 162(m)	—			—		—			—		180			1.3
Other, net	(532)			(4.2)		(10)			0.2		(106)			(0.8)
Total income tax expense	$	2,872		23.2	%	$	(567)		10.9	%	$	4,240		30.3	%
Effective income tax rate	23.2		%			10.9		%			30.3		%

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

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


	Years ended December 31,
	2023		2022		2021
Current taxes:
U.S. Federal	$	1,370	$	14	$	3,482
State and local	466		237		356
Foreign	—		98		(218)
Total current taxes	1,836		349		3,620
Deferred taxes:
U.S. Federal	1,014		(888)		446
State and local	22		(44)		30
Foreign	—		16		144
Total deferred taxes	1,036		(916)		620
Total income tax provision	$	2,872	$	(567)	$	4,240

Deferred Tax Assets and Deferred Tax Liabilities

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


	As of December 31,
	2023		2022
Deferred tax assets:
Stock-based compensation expense	$	1,160	$	1,138
Deferred rent	1,039		1,330
Compensation and benefits payable	1,465		1,328
Federal unrecognized tax benefit	—		4
Deferred compensation	464		446
Acquisition expenses	876		841
Other	—		9
Total deferred tax assets	5,004		5,096
Deferred tax liabilities:
Property and equipment	(160)		(186)
Intangibles	(1,917)		(1,593)
Unrealized gains on investments	(614)		(318)
Leases	(915)		(1,214)
Contingent consideration	(636)		—
Other	(36)		(23)
Total deferred tax liabilities	(4,278)		(3,334)
Net deferred tax assets	$	726	$	1,762

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in recorded uncertain tax positions during the years ended December 31, 2023 and 2022 follows (in thousands):










Balance at December 31, 2021	$	25

Reductions for tax positions related to prior years	(4)

Balance at December 31, 2022	21
Reductions for tax positions related to prior years	(21)
Balance at December 31, 2023	$	—

Subsequent Event (Details) - USD ($)		12 Months Ended
Subsequent Event (Details) - USD ($)	Feb. 20, 2020	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Dividends, Cash		$ 0.15
Equity Method Investment, Ownership Percentage		47.50%
Unrealized Gain on Securities		$ 327,000	$ 143,000
Restricted Stock \| Subsequent Event
Subsequent Event [Line Items]
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 3,200,000
Restricted stock issued	268,000

CONSOLIDATED STATEMENTs OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Westwood Holdings Group, Inc. Common Stock, Par	Additional Paid-In Capital	Treasury Stock	Noncontrolling Interest	Retained Earnings (Accumulated Deficit)
BALANCE at Dec. 31, 2020	$ 130,711	$ 105	$ 210,268	$ (77,967)	$ 0	$ (1,695)
BALANCE, shares at Dec. 31, 2020		8,326,948
Net income	9,763					9,763
Issuance of restricted stock, net of forfeitures		$ 2	(2)
Issuance of restricted stock, net of forfeitures, shares		158,098
Stock-based compensation expense	5,835		5,835
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share-based Liabilities Paid	(20,823)		(20,823)
Dividends declared ($2.07 in 2015, $1.82 per share in 2014, $1.64 per share in 2013)	(3,706)					(3,706)
Issuance of treasury stock under employee stock plans, shares		2,353
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures			(91)	91
Restricted stock returned for payment of taxes	(884)			(884)
Restricted stock returned for payment of taxes, shares		(51,359)
BALANCE at Dec. 31, 2021	117,906	$ 107	195,187	(81,750)	0	4,362
BALANCE, shares at Dec. 31, 2021		8,253,491
Treasury Stock, Shares, Acquired, Employee Stock Plan		(182,549)
Treasury Stock, Acquired, Employee Stock Plan	(2,990)			(2,990)
Net income	(4,628)					(4,628)
Issuance of restricted stock, net of forfeitures		$ 8	(8)
Issuance of restricted stock, net of forfeitures, shares		868,900
Stock-based compensation expense	6,001		6,001
Distributed Earnings	(1,166)		(1,166)
Dividends declared ($2.07 in 2015, $1.82 per share in 2014, $1.64 per share in 2013)	(3,987)					(3,987)
Purchases of treasury stock	(2,851)			(2,851)
Purchases of treasury stock, shares		(205,521)
Issuance of treasury stock under employee stock plans, shares		2,564
Issuance of treasury stock under employee stock plans			(100)	100
Restricted stock returned for payment of taxes	(627)			(627)
Restricted stock returned for payment of taxes, shares		(37,603)
BALANCE at Dec. 31, 2022	$ 110,648	$ 115	199,914	(85,128)	0	(4,253)
BALANCE, shares at Dec. 31, 2022	8,904,902	8,881,831
Accumulated Other Comprehensive Income (Loss), Tax	$ (46)
Net income	10,571
Issuance of restricted stock, net of forfeitures		$ 4	(4)
Issuance of restricted stock, net of forfeitures, shares		329,194
Stock-based compensation expense	6,518		6,518
Distributed Earnings	(4,806)		(4,806)
Dividends declared ($2.07 in 2015, $1.82 per share in 2014, $1.64 per share in 2013)	(617)					(617)
Restricted stock returned for payment of taxes	(862)			(862)
Restricted stock returned for payment of taxes, shares		(70,265)
BALANCE at Dec. 31, 2023	$ 120,401	$ 119	$ 201,622	$ (85,990)	$ 2,045	$ 4,650
BALANCE, shares at Dec. 31, 2023		9,140,760
Net Income (Loss) Attributable to Noncontrolling Interest	$ 1,051
Noncontrolling Interest, Increase from Business Combination	994
Accumulated Other Comprehensive Income (Loss), Tax	$ 43

Regulatory Capital Requirements	12 Months Ended
Regulatory Capital Requirements	Dec. 31, 2023
Banking and Thrift [Abstract] (Deprecated 2020)
REGULATORY CAPITAL REQUIREMENTS	REGULATORY CAPITAL REQUIREMENTS: Westwood Trust must maintain cash and investments in an amount equal to the required minimum restricted capital of $4.0 million as required by the Texas Finance Code. Restricted capital is included in Investments in the accompanying Consolidated Balance Sheets. At December 31, 2023, Westwood Trust had approximately $11.1 million in excess of its minimum capital requirement. Westwood Trust is limited under applicable Texas law in the payment of dividends of undivided profits, which is that part of equity capital equal to the balance of net profits, income, gains and losses since formation minus subsequent distributions to stockholders and transfers to surplus or capital under share dividends or appropriate Board resolutions. At the discretion of its Board, Westwood Trust may make quarterly and special dividend payments, or other distributions, to Westwood out of its undivided profits. No dividend payments were made in 2023, 2022 or 2021.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Property and Equipment

The following table reflects information about our property and equipment as of December 31, 2023 and 2022 (in thousands):


	As of December 31,
	2023		2022
Leasehold improvements	$	5,173	$	4,921
Furniture and fixtures	2,792		2,786
Computer hardware and office equipment	3,557		3,317

Accumulated depreciation	(10,078)		(9,196)
Property and equipment, net	$	1,444	$	1,828

Variable Interest Entities (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Investments in trading securities	$ 32,674	$ 15,342
Fee revenues from Westwood VIEs	32,400	$ 23,200	$ 22,800
Common Trust Funds
Variable Interest Entity [Line Items]
Investments in trading securities	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Employee Benefits (Stock Comp Expense Summary table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employee Benefits and Share-based Compensation		$ 6,001	$ 5,834
Stock-based compensation expense	$ 6,518	6,001	5,835
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total income tax benefit recognized related to stock-based compensation	714	672	804
Restricted Stock \| Service condition restricted stock expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense	6,479	5,729	5,253
Restricted Stock \| Performance-based restricted stock expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Add: Restricted stock expense	$ 39	$ 272	$ 581

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investment Owned, at Cost	$ 32,982	$ 19,861
Schedule Of Investments [Line Items]
Trading Securities, Cost	32,717	16,121
Equity Method Investments	$ 4,284	6,574
Equity Method Investment, Ownership Percentage	47.50%
Zarvona Energy Fund II-A, L.P. [Domain]
Schedule Of Investments [Line Items]
Equity Method Investments	$ 700	$ 700
Equity Method Investment, Ownership Percentage	0.50%	0.50%
Broadmark Asset Management LLC [Domain]
Schedule Of Investments [Line Items]
Equity Method Investments	$ 0	$ 2,417
Equity Method Investment, Ownership Percentage	0.00%	47.50%
Salient MLP Total Return Fund, L.P. [Domain]
Schedule Of Investments [Line Items]
Equity Method Investments	$ 11	$ 11
Equity Method Investment, Ownership Percentage	0.00%	0.00%
Salient MLP Total Return TE Fund, L.P. [Domain]
Schedule Of Investments [Line Items]
Equity Method Investments	$ 8	$ 8
Equity Method Investment, Ownership Percentage	0.20%	0.20%
Total [Domain]
Schedule Of Investments [Line Items]
Equity Method Investments	$ 4,284	$ 6,574
Zarvona Energy Fund GP, L.P. [Domain]
Schedule Of Investments [Line Items]
Equity Method Investments	$ 3,565	$ 3,438
Equity Method Investment, Ownership Percentage	50.00%	50.00%

Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

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


	Year Ended December 31,
	2023		2022		2021
Advisory Fees:
Institutional	$	37,738	$	26,653	$	31,069
Mutual Funds	29,745		20,245		17,507
Wealth Management	1,172		805		686

Trust Fees	20,592		21,686		24,131

Other	534		(708)		(339)
Total revenues	$	89,781	$	68,681	$	73,054

Revenue Disaggregation by Geographic Location [Table Text Block]

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


Year Ended December 31, 2023	Advisory		Trust		Performance-based		Other		Total


Canada	$	1,105	$	—	$	—	$	—	$	1,105

U.S.	66,286		20,242		1,614		534		88,676
Total	$	67,391	$	20,242	$	1,614	$	534	$	89,781

Year Ended December 31, 2022	Advisory		Trust		Performance-based		Other		Total


Canada	1,171		—		—		—		1,171

U.S.	45,514		21,686		1,018		(708)		67,510
Total	$	46,685	$	21,686	$	1,018	$	(708)	$	68,681


Year Ended December 31, 2021	Advisory		Trust		Performance-based		Other		Total


Canada	1,163		—		—		—		1,163
Europe	638		—		262		—		900
U.S.	45,512		24,131		1,687		(339)		70,991
Total	$	47,313	$	24,131	$	1,949	$	(339)	$	73,054

Quarterly Financial Data

12 Months Ended

Dec. 31, 2023

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (Unaudited)

QUARTERLY FINANCIAL DATA (Unaudited):

The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2023 and 2022 (in thousands, except per share amounts):


	Quarter
	First		Second		Third		Fourth
2023
Revenues	$	17,216	$	15,603	$	15,406	$	20,456
Income (loss) before income taxes	594		(458)		(1,021)		(4,313)
Net income (loss)	50		(378)		(1,175)		(3,125)
Basic earnings (loss) per common share	0.01		(0.05)		(0.15)		(0.40)
Diluted earnings (loss) per common share	0.01		(0.05)		(0.15)		(0.40)

2022
Revenues	$	18,319	$	17,484	$	17,860	$	19,391
Income (loss) before income taxes	7,014		1,416		2,360		3,213
Net income (loss)	4,101		970		1,879		2,813
Basic earnings (loss) per common share	0.52		0.12		0.24		0.36
Diluted earnings (loss) per common share	0.52		0.12		0.24		0.36

Fair Value of Financial Instruments (Levels) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments in securities:
Investments in trading securities	$ 32,674	$ 15,342
Total assets measured at fair value	32,915	18,369
Asset Acquisition, Consideration Transferred, Contingent Consideration	$ 10,100	12,900
Unobservable input - revenue retention discount rate - minimum	11.50%
Unobservable input - revenue retention discount rate - maximum	12.00%
Unobservable input - revenue retention volatility - maximum	16.30%
Unobservable input - revenue retention volatility - minimum	8.30%
Unobservable input - revenue retention discount rate - weighted average	11.75%
Unobservable input - revenue retention volatility - weighted average	11.30%
Unobservable input - growth discount rate - weighted average	13.00%
Unobservable input - growth discount rate - maximum	13.30%
Unobservable input - growth discount rate - minimum	12.80%
Unobservable input - growth volatility - weighted average	19.90%
Unobservable input - growth volatility - maximum	24.90%
Unobservable input - growth volatility - minimum	14.90%
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	$ 10,133	12,901	$ 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	0	12,901
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings	(2,768)	0
Asset Acquisition, Contingent Consideration, Liability	10,133	12,901
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	(2,792)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	0	(1,577)
Private Equity Investments [Member]
Investments in securities:
Equity Securities, FV-NI		2,792
Private equity
Investments in securities:
Equity Securities, FV-NI	241	235
Contingent Consideration Type [Domain]
Investments in securities:
Asset Acquisition, Consideration Transferred, Contingent Consideration	10,133	12,901
Other Liabilities, Fair Value Disclosure	10,133	12,901
Level 1
Investments in securities:
Investments in trading securities	32,674	15,342
Total assets measured at fair value	32,674	15,342
Level 1 \| Private Equity Investments [Member]
Investments in securities:
Equity Securities, FV-NI		0
Level 1 \| Private equity
Investments in securities:
Equity Securities, FV-NI	0	0
Level 2
Investments in securities:
Investments in trading securities	0	0
Total assets measured at fair value	0	0
Level 2 \| Private Equity Investments [Member]
Investments in securities:
Equity Securities, FV-NI		0
Level 2 \| Private equity
Investments in securities:
Equity Securities, FV-NI	0	0
Level 3
Investments in securities:
Investments in trading securities	0	0
Total assets measured at fair value	0	2,792
Level 3 \| Private Equity Investments [Member]
Investments in securities:
Equity Securities, FV-NI		2,792
Level 3 \| Private equity
Investments in securities:
Equity Securities, FV-NI	0	0
Level 3 \| Contingent Consideration Type [Domain]
Investments in securities:
Asset Acquisition, Consideration Transferred, Contingent Consideration	10,133	12,901
Other Liabilities, Fair Value Disclosure	10,133
Fair Value Measured at Net Asset Value Per Share \| Private Equity Investments [Member]
Investments in securities:
Equity Securities, FV-NI		0
Fair Value Measured at Net Asset Value Per Share \| Private equity
Investments in securities:
Equity Securities, FV-NI	241	235
Inputs, Net Asset Value [Member]
Investments in securities:
Investments in trading securities	0	0
Total assets measured at fair value	$ 241	$ 235

Intangible Assets (Details 1) - USD ($)	12 Months Ended
Intangible Assets (Details 1) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 4,149,000	$ 1,889,000	$ 1,624,000
Summary of intangible assets
Gross Carrying Amount	40,736,000	40,736,000
Accumulated Amortization	(15,933,000)	(11,784,000)
Net Carrying Amount	$ 24,803,000	$ 28,952,000
Customer Relationships [Member]
Summary of intangible assets
Weighted Average Amortization Period (years)	15 years	15 years
Gross Carrying Amount	$ 34,397,000	$ 34,397,000
Accumulated Amortization	(12,906,000)	(10,636,000)
Net Carrying Amount	$ 21,491,000	$ 23,761,000
Trade Names [Member]
Summary of intangible assets
Weighted Average Amortization Period (years)	3 years	3 years
Gross Carrying Amount	$ 3,800,000	$ 3,800,000
Accumulated Amortization	(1,372,000)	(105,000)
Net Carrying Amount	$ 2,428,000	$ 3,695,000
Noncompete Agreements [Member]
Summary of intangible assets
Weighted Average Amortization Period (years)	3 years	3 years
Gross Carrying Amount	$ 1,100,000	$ 1,100,000
Accumulated Amortization	(397,000)	(31,000)
Net Carrying Amount	$ 703,000	$ 1,069,000
Internally developed software
Summary of intangible assets
Weighted Average Amortization Period (years)	5 years 9 months 18 days	5 years 9 months 18 days
Gross Carrying Amount	$ 1,439,000	$ 1,439,000
Accumulated Amortization	(1,258,000)	(1,012,000)
Net Carrying Amount	181,000	427,000
General and Administrative Expense [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 4,100,000	$ 1,900,000	$ 1,600,000

Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2023

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

Total Expense Recorded for Stock Based Compensation

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


	For the years ended December 31,
	2023		2022		2021
Service condition restricted stock expense	$	6,479	$	5,729	$	5,253
Performance-based restricted stock expense	39		272		581


Total stock-based compensation expense	$	6,518	$	6,001	$	5,834
Total income tax benefit recognized related to stock-based compensation	$	714	$	672	$	804

Profit Sharing and 401(k) Contributions for the Periods

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


	Years ended December 31,
	2023		2022		2021
Profit-sharing contributions, net	$	—	$	—	$	13
Retirement plan matching contributions	1,616		1,295		1,256

Restricted Stock Subject Only to a Service Condition

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

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

The following table details the status and changes in our restricted stock grants that are subject only to a service condition for the year ended December 31, 2023:


	Number of Shares	Weighted Average Grant Date Fair Value
Non-vested, January 1, 2023	1,098,008	$	15.49
Granted	507,244	12.26
Vested	(294,340)	20.66
Forfeited	(178,051)	13.99
Non-vested, December 31, 2023	1,132,861	$	12.94

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

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


	Years ended December 31,
	2023		2022		2021
Weighted-average grant date fair value	$	12.26	$	13.26	$	17.10
Fair value of shares vested (in thousands)	$	6,081	$	5,278	$	7,630

Restricted Shares Subject to Service and Performance Conditions

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

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

The following table details the status and changes in our restricted stock grants subject to service and performance conditions for the year ended December 31, 2023:


	Number of Shares	Weighted Average Grant Date Fair Value
Non-vested, January 1, 2023	6,243	$	37.42

Vested	(6,243)	6.24

Non-vested, December 31, 2023	—	$	—

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

The following table shows the total fair value of shares vested during the years indicated:


	Years ended December 31,
	2023		2022		2021

Fair value of shares vested (in thousands)	$	39	$	235	$	913

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2023 USD ($) reporting_units	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Schedule Of Significant Accounting Policies [Line Items]
Provision for income taxes	$ 2,872,000	$ (567,000)	$ 4,240,000
Foreign Currency Transaction Gain (Loss), before Tax	$ 2,768,000	0	$ 0
Number of reporting units \| reporting_units	2
Valuation allowance	$ 0
Uncertain tax position	21,000	25,000
Unrecognized tax benefits	$ 0	$ 4,000
Effective Income Tax Rate Reconciliation, Percent	23.20%	10.90%	30.30%
seed money investment	$ 3,000,000	$ 7,300,000
Furniture and fixtures \| Minimum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	3 years
Furniture and fixtures \| Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	7 years
Leasehold improvements
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	lesser of the estimated useful life or lease term

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Computation of Basic and Diluted Shares

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


	Years ended December 31,
	2023		2022		2021
Comprehensive income (loss) attributable to Westwood Holdings Group, Inc.	$	9,520	$	(4,628)	$	9,763

Weighted average shares outstanding – basic	7,964,423		7,844,363		7,875,395
Dilutive potential shares from unvested restricted shares	147,716		—		52,577

Weighted average shares outstanding – diluted	8,112,139		7,844,363		7,927,972
Earnings (loss) per share:
Basic	$	1.20	$	(0.59)	$	1.24
Diluted	$	1.17	$	(0.59)	$	1.23

Goodwill and Other Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes in goodwill
Beginning balance	$ 16,401,000	$ 16,401,000
Goodwill Acquired	4,197,000	19,331,000
Ending balance	16,401,000	16,401,000	$ 16,401,000
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	40,736,000	40,736,000
Amortization of intangible assets	4,149,000	1,889,000	1,624,000
Goodwill	16,401,000	16,401,000	16,401,000
Goodwill Acquired	4,197,000	19,331,000
Goodwill, Purchase Accounting Adjustments	(400,000)
Advisory Segment Goodwill	23,100,000	19,331,000	0
Balance at December 31, 2021	39,501,000	35,732,000	16,401,000
Adjusted goodwill - Advisory segment	(428,000)
Adjusted Goodwill - Total	(428,000)
Acquired Goodwill - Total	4,197,000	19,331,000
General and Administrative Expense [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 4,100,000	$ 1,900,000	$ 1,600,000
Trade Names [Member]
Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (years)	3 years	3 years
Gross Carrying Amount	$ 3,800,000	$ 3,800,000
Internally developed software
Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (years)	5 years 9 months 18 days	5 years 9 months 18 days
Gross Carrying Amount	$ 1,439,000	$ 1,439,000

Description of the Business (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property and equipment, net of accumulated depreciation of $10,078 and $9,277	$ 1,444	$ 1,828
Accounts Payable and Accrued Liabilities, Current	(6,130)	(5,678)
Goodwill	39,501	35,732	$ 16,401
Intangible assets, net	24,803	28,952
Other current assets	$ 4,543	$ 4,645

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Employee Benefits (Service Grants and Vests) (Details) - Service condition restricted stock expense - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Weighted-average grant date fair value for shares granted and the total fair value of shares vested
Weighted-average grant date fair value (in dollars per share)	$ 12.26	$ 13.26	$ 17.10
Fair value of shares vested (in thousands)	$ 6,081	$ 5,278	$ 7,630

Segment Reporting (Details Textual)	12 Months Ended
Segment Reporting (Details Textual)	Dec. 31, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	2