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Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUES:      
Investment advisory $ 132,688,462 $ 121,645,149 $ 107,915,557
Mutual fund administration, net 12,513,267 14,457,926 16,510,429
Total revenue 145,201,729 136,103,075 124,425,986
OPERATING EXPENSES:      
Compensation and related costs 54,855,972 52,264,843 47,951,039
General and administrative 14,036,681 12,621,831 10,245,866
Sales and marketing 4,994,525 4,263,143 4,179,064
Mutual fund administration 4,313,185 3,884,655 3,330,265
Total operating expenses 78,200,363 73,034,472 65,706,234
NET OPERATING INCOME 67,001,366 63,068,603 58,719,752
Investment income (loss), net 14,017,593 7,517,398 (736,590)
Gain on sale of subsidiary 0 2,675,766 0
INCOME BEFORE TAXES 81,018,959 73,261,767 57,983,162
Income tax expense (29,417,290) (26,667,635) (20,908,665)
NET INCOME 51,601,669 46,594,132 37,074,497
Less: Net income attributable to redeemable noncontrolling interest (1,612,712) (542,209) 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 49,988,957 $ 46,051,923 $ 37,074,497
Earnings per share attributable to common shareholders      
Basic (per share) $ 14.49 $ 13.52 $ 11.31
Diluted (per share) $ 14.48 $ 13.49 $ 11.03
Weighted average shares outstanding      
Basic (in shares) 3,448,824 3,407,408 3,277,920
Diluted (in shares) 3,451,838 3,413,391 3,359,786