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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES:        
Investment advisory $ 28,553,082 $ 27,018,876 $ 55,239,867 $ 52,419,412
Mutual fund administration, net 4,116,353 4,363,311 7,887,057 8,281,182
Total revenue 32,669,435 31,382,187 63,126,924 60,700,594
OPERATING EXPENSES:        
Compensation and related costs 13,381,347 12,667,426 25,780,056 25,452,206
General and administrative 2,575,941 2,583,567 5,061,100 4,577,113
Sales and marketing 1,061,046 1,160,451 2,054,168 1,770,152
Mutual fund administration 951,852 848,657 1,827,918 1,585,030
Total operating expenses 17,970,186 17,260,101 34,723,242 33,384,501
NET OPERATING INCOME 14,699,249 14,122,086 28,403,682 27,316,093
Investment income 692,666 457,340 1,439,888 1,802,023
INCOME BEFORE TAXES 15,391,915 14,579,426 29,843,570 29,118,116
Income tax expense (5,624,808) (5,401,304) (10,796,584) (10,427,372)
NET INCOME 9,767,107 9,178,122 19,046,986 18,690,744
Less: Net income attributable to redeemable noncontrolling interest (52,555) 0 (66,771) 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 9,714,552 $ 9,178,122 $ 18,980,215 $ 18,690,744
Earnings per share attributable to common shareholders        
Basic (USD per share) $ 2.85 $ 2.79 $ 5.58 $ 5.75
Diluted (USD per share) $ 2.84 $ 2.73 $ 5.58 $ 5.61
Weighted average shares outstanding        
Basic (in shares) 3,410,751 3,287,751 3,399,740 3,253,144
Diluted (in shares) 3,415,192 3,367,280 3,403,198 3,331,521