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Consolidated Statements of Cash Flows (unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 27,840,151 $ 26,092,467
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 574,457 432,705
Share-based compensation 4,083,360 4,082,127
(Increase) decrease in accounts receivable (1,608,910) 327,183
Change in current income taxes 4,554,773 1,185,389
Change in deferred income taxes (1,253,988) (1,197,061)
Net losses (gains) on investments 644,680 (5,774,968)
Net change in securities held by Consolidated Funds (46,416,866) (3,725,638)
Decrease in accrued incentive compensation (6,853,303) (5,035,076)
Increase in deferred compensation 3,968,960 4,937,302
Other changes in assets and liabilities 7,129,382 380,641
Net cash (used in) provided by operating activities (7,337,304) 21,705,071
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (593,989) (129,669)
Purchase of Company sponsored investments (3,286,872) (11,358,395)
Proceeds from sale of Company sponsored investments 1,508,543 1,685,088
Net cash used in investing activities (2,372,318) (9,802,976)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Value of shares withheld related to employee tax withholding (917,163) (1,883,676)
Net subscriptions received from redeemable noncontrolling interest holders 12,251,682 3,296,134
Net cash provided by financing activities 11,334,519 1,412,458
CASH AND CASH EQUIVALENTS    
Net change during the period 1,624,897 13,314,553
At beginning of period 76,602,108 57,189,876
At end of period 78,227,005 70,504,429
Supplemental cash flow information:    
Income taxes paid 5,418,500 12,533,400
Supplemental disclosure of non-cash transactions:    
Common stock issued as incentive compensation 4,109,197 3,892,424
Charitable donation of corporate investments and property and equipment 1,989,803 1,748,841
Net subscriptions (redemptions) of ETF shares for marketable securities $ 1,524,350 $ (99,060)