XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
REVENUES:    
Revenue $ 32,579,373 $ 37,782,002
OPERATING EXPENSES:    
Compensation and related costs 15,969,382 14,387,473
General and administrative 3,244,532 2,963,671
Sales and marketing 1,370,716 1,209,487
Mutual fund administration 861,040 1,017,419
Total operating expenses 21,445,670 19,578,050
NET OPERATING INCOME 11,133,703 18,203,952
Investment income (loss), net 14,284,877 (1,559,723)
INCOME BEFORE TAXES 25,418,580 16,644,229
Income tax expense 5,862,733 3,702,100
NET INCOME 19,555,847 12,942,129
Net (income) loss attributable to redeemable noncontrolling interest 2,623,205 (47,332)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 16,932,642 $ 12,989,461
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS    
Basic (USD per share) $ 4.85 $ 3.72
Diluted (USD per share) $ 4.84 $ 3.72
Weighted average shares outstanding    
Basic (in shares) 3,493,843 3,487,923
Diluted (in shares) 3,496,534 3,491,938
Investment advisory    
REVENUES:    
Revenue $ 30,512,718 $ 34,631,290
Mutual fund administration, net    
REVENUES:    
Revenue $ 2,066,655 $ 3,150,712