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Consolidated Statements of Income (unaudited) (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
REVENUES:    
Investment advisory $ 14,375,094 $ 14,437,868
Mutual fund administration, net 2,239,126 2,011,880
Total revenue 16,614,220 16,449,748
OPERATING EXPENSES:    
Compensation and related costs 8,487,509 9,164,771
General and administrative 1,136,391 1,014,569
Sales and marketing 310,626 232,264
Third party distribution 213,408 250,669
Mutual fund administration 445,746 338,937
Total operating expenses 10,593,680 11,001,210
NET OPERATING INCOME 6,020,540 5,448,538
Investment return 1,271,731 370,781
INCOME BEFORE TAXES 7,292,271 5,819,319
Provision for income taxes (2,680,918) (2,187,585)
NET INCOME $ 4,611,353 $ 3,631,734
Earnings per share $ 1.52 $ 1.28
Weighted average shares outstanding 3,030,834 2,837,860