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Consolidated Statements of Income (USD $)
 3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES:        
Investment advisory $ 23,541,029 $ 17,843,271 $ 65,391,932 $ 50,787,585
Mutual fund administration, net 3,917,464 2,976,221 10,695,870 8,321,383
Total revenue 27,458,493 20,819,492 76,087,802 59,108,968
OPERATING EXPENSES:        
Compensation and related costs 13,370,572 10,817,675 37,967,815 30,688,766
General and administrative 1,801,668 1,552,592 5,098,856 4,366,176
Sales and marketing 564,969 505,238 1,648,007 1,503,042
Mutual fund administration 737,784 474,386 2,144,234 1,302,077
Total operating expenses 16,474,993 13,349,891 46,858,912 37,860,061
NET OPERATING INCOME 10,983,500 7,469,601 29,228,890 21,248,907
Investment income (loss) (1,005,915) 913,551 832,527 3,466,935
INCOME BEFORE TAXES 9,977,585 8,383,152 30,061,417 24,715,842
Income tax provision (3,627,005) (3,021,416) (11,033,204) (9,311,828)
NET INCOME $ 6,350,580 $ 5,361,736 $ 19,028,213 $ 15,404,014
Earnings per share        
Basic (USD per share) $ 1.98 $ 1.70 $ 5.96 $ 4.91
Diluted (USD per share) $ 1.94 $ 1.67 $ 5.84 $ 4.84
Weighted average shares outstanding        
Basic (in shares) 3,205,904 3,160,039 3,190,171 3,135,466
Diluted (in shares) 3,280,762 3,211,793 3,260,264 3,180,971