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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES:        
Investment advisory $ 33,526,273 $ 32,558,324 $ 68,157,563 $ 64,323,301
Mutual fund administration, net 2,401,442 2,984,217 5,552,154 6,258,313
Total revenue 35,927,715 35,542,541 73,709,717 70,581,614
OPERATING EXPENSES:        
Compensation and related costs 14,572,121 14,313,734 28,959,595 27,992,883
General and administrative 2,822,528 2,980,469 5,786,200 6,468,585
Sales and marketing 1,302,040 1,252,852 2,511,526 2,382,570
Mutual fund administration 881,487 1,028,738 1,898,906 2,029,354
Total operating expenses 19,578,176 19,575,793 39,156,227 38,873,392
NET OPERATING INCOME 16,349,539 15,966,748 34,553,490 31,708,222
Investment income, net 3,565,669 3,024,729 2,005,946 6,905,973
INCOME BEFORE TAXES 19,915,208 18,991,477 36,559,436 38,614,195
Income tax expense (5,017,185) (6,024,458) (8,719,285) (12,521,728)
NET INCOME 14,898,023 12,967,019 27,840,151 26,092,467
Less: Net income attributable to redeemable noncontrolling interest (527,655) (328,580) (480,323) (697,133)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 14,370,368 $ 12,638,439 $ 27,359,828 $ 25,395,334
Earnings per share attributable to common shareholders        
Basic (USD per share) $ 4.08 $ 3.67 $ 7.81 $ 7.39
Diluted (USD per share) $ 4.08 $ 3.66 $ 7.81 $ 7.38
Weighted average shares outstanding        
Basic (in shares) 3,518,665 3,443,783 3,503,379 3,436,391
Diluted (in shares) 3,519,816 3,449,128 3,505,136 3,441,022