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Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Reclassifications to Conform to the Current Year's Consolidated Financial Statement Presentation

The following table summarizes these reclassifications for the years ended December 31, 2020 and 2019:

		Year Ended December 31, 2020				Year Ended December 31, 2019
Consolidated Statements of Cash Flows:
Cash Flows from Operating Activities
Net cash provided by operating activities (previously reported)		$	29,395			$	46,832
Reclassification of net cash flows from securities purchases and sales			17,741				10,656
Net cash provided by operating activities (currently reported)		$	47,136			$	57,488
Cash Flows from Investing Activities
Net cash provided by/(used in) investing activities (previously reported)		$	28,382			$	(7,005	)
Purchases of securities owned, at fair value			(36,444	)			(22,536	)
Proceeds from the sale of securities owned, at fair value			18,703				11,880
Net cash provided by/(used in) investing activities (currently reported)		$	10,641			$	(17,661	)

Schedule of Estimated Useful Lives of Related Assets

Depreciation is provided for using the straight-line method over the estimated useful lives of the related assets as follows:

Equipment			5 years
Furniture and fixtures			15 years

Summary of Revisions to Consolidated Statements of Operations Due to Immaterial Correction of Error

The following table summarizes these revisions, which had no effect on previously reported net income:

		Year Ended December 31, 2020				Year Ended December 31, 2019
Operating Revenues:
Advisory fees (previously reported)		$	250,182			$	265,652
Amounts collected on behalf of third parties			(3,787	)			(1,875	)
Advisory fees (as corrected)		$	246,395			$	263,777
Total revenues (previously reported)		$	253,699			$	268,403
Amounts collected on behalf of third parties			(3,787	)			(1,875	)
Total revenues (as corrected)		$	249,912			$	266,528
Operating Expenses:
Fund management and administration (previously reported)		$	60,515			$	61,502
Amounts collected on behalf of third parties			(3,787	)			(1,875	)
Fund management and administration (as corrected)		$	56,728			$	59,627
Total operating expenses (previously reported)		$	198,617			$	214,869
Amounts collected on behalf of third parties			(3,787	)			(1,875	)
Total operating expenses (as corrected)		$	194,830			$	212,994

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Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
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Tabular disclosure of information about items reclassified to conform to current year presentation.

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Schedule of estimated useful lives of related assets.

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