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Consolidated Statements of Income (Unaudited) (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
REVENUES:        
Investment advisory $ 14,101,053 $ 14,801,457 $ 28,476,147 $ 29,239,325
Mutual fund administration, net 2,059,802 2,026,066 4,298,928 4,037,946
Total revenue 16,160,855 16,827,523 32,775,075 33,277,271
OPERATING EXPENSES:        
Compensation and related costs 8,378,703 8,949,286 16,866,212 18,114,057
General and administrative 1,099,053 1,067,883 2,235,444 2,082,452
Sales and marketing 332,324 267,903 642,950 500,167
Third party distribution 138,298 230,312 351,706 480,981
Mutual fund administration 381,949 461,093 827,695 800,029
Total operating expenses 10,330,327 10,976,477 20,924,007 21,977,686
NET OPERATING INCOME 5,830,528 5,851,046 11,851,068 11,299,585
Investment return (468,432) 90,362 803,299 461,143
INCOME BEFORE TAXES 5,362,096 5,941,408 12,654,367 11,760,728
Income tax provision (2,033,999) (2,212,519) (4,714,917) (4,400,104)
NET INCOME $ 3,328,097 $ 3,728,889 $ 7,939,450 $ 7,360,624
Earnings per share $ 1.07 $ 1.26 $ 2.59 $ 2.54
Weighted average shares outstanding 3,101,170 2,967,002 3,066,002 2,902,788