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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES:        
Investment advisory $ 34,928,205 $ 33,782,603 $ 103,085,767 $ 98,105,905
Mutual fund administration, net 2,543,442 2,989,026 8,095,596 9,247,339
Total revenue 37,471,647 36,771,629 111,181,363 107,353,244
OPERATING EXPENSES:        
Compensation and related costs 15,441,623 14,446,102 44,401,217 42,438,985
General and administrative 2,962,220 3,088,000 8,748,419 9,556,585
Sales and marketing 1,281,856 1,230,306 3,793,382 3,612,877
Mutual fund administration 870,103 1,119,889 2,769,009 3,149,242
Total operating expenses 20,555,802 19,884,297 59,712,027 58,757,689
NET OPERATING INCOME 16,915,845 16,887,332 51,469,336 48,595,555
Investment income, net 5,210,332 2,767,747 7,216,278 9,673,720
INCOME BEFORE TAXES 22,126,177 19,655,079 58,685,614 58,269,275
Income tax expense (5,726,807) (6,496,980) (14,446,092) (19,018,708)
NET INCOME 16,399,370 13,158,099 44,239,522 39,250,567
Less: Net income attributable to redeemable noncontrolling interest (1,191,317) (459,252) (1,671,640) (1,156,385)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 15,208,053 $ 12,698,847 $ 42,567,882 $ 38,094,182
Earnings per share attributable to common shareholders        
Basic (USD per share) $ 4.31 $ 3.68 $ 12.12 $ 11.07
Diluted (USD per share) $ 4.31 $ 3.67 $ 12.11 $ 11.05
Weighted average shares outstanding        
Basic (in shares) 3,530,586 3,454,178 3,512,547 3,442,402
Diluted (in shares) 3,532,346 3,461,418 3,514,517 3,447,976