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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES:        
Investment advisory $ 29,512,076 $ 27,475,552 $ 84,751,943 $ 79,894,964
Mutual fund administration, net 3,425,165 3,948,373 11,312,222 12,229,555
Total revenue 32,937,241 31,423,925 96,064,165 92,124,519
OPERATING EXPENSES:        
Compensation and related costs 12,714,404 12,941,017 38,494,459 38,393,223
General and administrative 2,994,186 2,389,339 8,055,287 6,966,452
Sales and marketing 1,052,101 1,107,989 3,106,269 2,878,141
Mutual fund administration 1,037,987 844,563 2,865,905 2,429,593
Total operating expenses 17,798,678 17,282,908 52,521,920 50,667,409
NET OPERATING INCOME 15,138,563 14,141,017 43,542,245 41,457,110
Investment income (loss) 3,555,368 (3,512,134) 4,995,255 (1,710,111)
Gain on sale of subsidiary 2,675,766 0 2,675,766 0
INCOME BEFORE TAXES 21,369,697 10,628,883 51,213,266 39,746,999
Income tax expense (7,700,732) (3,900,423) (18,497,315) (14,327,795)
NET INCOME 13,668,965 6,728,460 32,715,951 25,419,204
Less: Net income attributable to redeemable noncontrolling interest (242,401) 0 (309,172) 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 13,426,564 $ 6,728,460 $ 32,406,779 $ 25,419,204
Earnings per share attributable to common shareholders        
Basic (USD per share) $ 3.93 $ 2.04 $ 9.52 $ 7.78
Diluted (USD per share) $ 3.93 $ 1.99 $ 9.50 $ 7.59
Weighted average shares outstanding        
Basic (in shares) 3,413,164 3,297,337 3,405,460 3,268,037
Diluted (in shares) 3,420,123 3,379,200 3,410,208 3,348,196