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Consolidated Statements of Income (unaudited) (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
REVENUES:    
Investment advisory $ 15,853,994 $ 14,375,094
Mutual fund administration, net 2,502,180 2,239,126
Total revenue 18,356,174 16,614,220
OPERATING EXPENSES:    
Compensation and related costs 9,513,412 8,487,509
General and administrative 1,278,068 1,136,391
Sales and marketing 382,043 310,626
Third party distribution 147,443 213,408
Mutual fund administration 407,593 445,746
Total operating expenses 11,728,559 10,593,680
NET OPERATING INCOME 6,627,615 6,020,540
Investment income 1,824,659 1,271,731
INCOME BEFORE TAXES 8,452,274 7,292,271
Income tax provision (3,121,541) (2,680,918)
NET INCOME $ 5,330,733 $ 4,611,353
Earnings per share $ 1.67 $ 1.52
Weighted average shares outstanding 3,197,476 3,030,834