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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
REVENUES:    
Investment advisory $ 34,631,290 $ 31,833,471
Mutual fund administration, net 3,150,712 3,300,658
Total revenue 37,782,002 35,134,129
OPERATING EXPENSES:    
Compensation and related costs 14,387,473 13,679,149
General and administrative 2,963,671 3,488,115
Sales and marketing 1,209,487 1,129,719
Mutual fund administration 1,017,419 1,000,616
Total operating expenses 19,578,050 19,297,599
NET OPERATING INCOME 18,203,952 15,836,530
Investment income (loss), net (1,559,723) 3,786,188
INCOME BEFORE TAXES 16,644,229 19,622,718
Income tax expense (3,702,100) (6,497,270)
NET INCOME 12,942,129 13,125,448
Less: Net loss (income) attributable to redeemable noncontrolling interest 47,332 (368,553)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 12,989,461 $ 12,756,895
Earnings per share attributable to common shareholders    
Basic (USD per share) $ 3.72 $ 3.72
Diluted (USD per share) $ 3.72 $ 3.71
Weighted average shares outstanding    
Basic (in shares) 3,487,923 3,428,888
Diluted (in shares) 3,491,938 3,435,329