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Consolidated Statements of Income (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
REVENUES:        
Investment advisory $ 17,090,321 $ 14,101,053 $ 32,944,314 $ 28,476,147
Mutual fund administration, net 2,802,775 2,059,802 5,304,956 4,298,928
Total revenue 19,893,096 16,160,855 38,249,270 32,775,075
OPERATING EXPENSES:        
Compensation and related costs 10,357,680 8,378,703 19,871,092 16,866,212
General and administrative 1,421,116 1,184,453 2,813,584 2,402,544
Sales and marketing 384,548 246,924 652,192 475,850
Third party distribution 157,963 138,298 305,406 351,706
Mutual fund administration 420,098 381,949 827,691 827,695
Total operating expenses 12,741,405 10,330,327 24,469,965 20,924,007
NET OPERATING INCOME 7,151,691 5,830,528 13,779,305 11,851,068
Investment income (loss) 728,725 (468,432) 2,553,384 803,299
INCOME BEFORE TAXES 7,880,416 5,362,096 16,332,689 12,654,367
Income tax provision (3,168,871) (2,033,999) (6,290,412) (4,714,917)
NET INCOME $ 4,711,545 $ 3,328,097 $ 10,042,277 $ 7,939,450
Earnings per share $ 1.45 $ 1.07 $ 3.12 $ 2.59
Weighted average shares outstanding 3,248,197 3,101,170 3,222,977 3,066,002