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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES:        
Investment advisory $ 33,782,603 $ 29,512,076 $ 98,105,905 $ 84,751,943
Mutual fund administration, net 2,989,026 3,425,165 9,247,339 11,312,222
Total revenue 36,771,629 32,937,241 107,353,244 96,064,165
OPERATING EXPENSES:        
Compensation and related costs 14,446,102 12,714,404 42,438,985 38,494,459
General and administrative 3,088,000 2,994,186 9,556,585 8,055,287
Sales and marketing 1,230,306 1,052,101 3,612,877 3,106,269
Mutual fund administration 1,119,889 1,037,987 3,149,242 2,865,905
Total operating expenses 19,884,297 17,798,678 58,757,689 52,521,920
NET OPERATING INCOME 16,887,332 15,138,563 48,595,555 43,542,245
Investment income, net 2,767,747 3,555,368 9,673,720 4,995,255
Gain on sale of subsidiary 0 2,675,766 0 2,675,766
INCOME BEFORE TAXES 19,655,079 21,369,697 58,269,275 51,213,266
Income tax expense (6,496,980) (7,700,732) (19,018,708) (18,497,315)
NET INCOME 13,158,099 13,668,965 39,250,567 32,715,951
Less: Net income attributable to redeemable noncontrolling interest (459,252) (242,401) (1,156,385) (309,172)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 12,698,847 $ 13,426,564 $ 38,094,182 $ 32,406,779
Earnings per share attributable to common shareholders        
Basic (USD per share) $ 3.68 $ 3.93 $ 11.07 $ 9.52
Diluted (USD per share) $ 3.67 $ 3.93 $ 11.05 $ 9.50
Weighted average shares outstanding        
Basic (in shares) 3,454,178 3,413,164 3,442,402 3,405,460
Diluted (in shares) 3,461,418 3,420,123 3,447,976 3,410,208