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Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES:      
Total revenue $ 136,624,380 $ 145,627,748 $ 145,201,729
OPERATING EXPENSES:      
Compensation and related costs, excluding deferred compensation expense 60,264,117 55,975,361 52,474,403
Deferred compensation expense (benefit) 5,976,938 (2,121,691) 2,381,569
General and administrative 13,277,843 11,648,925 14,036,681
Sales and marketing 5,867,297 5,242,848 4,994,525
Mutual fund administration 3,302,767 3,625,898 4,313,185
Total operating expenses 88,688,962 74,371,341 78,200,363
NET OPERATING INCOME 47,935,418 71,256,407 67,001,366
Investment income (loss), net 30,507,375 (6,272,678) 14,017,593
INCOME BEFORE TAXES 78,442,793 64,983,729 81,018,959
Income tax expense (18,688,474) (18,669,341) (29,417,290)
NET INCOME 59,754,319 46,314,388 51,601,669
Net (income) loss attributable to redeemable noncontrolling interest (4,795,295) 1,061,441 (1,612,712)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 54,959,024 $ 47,375,829 $ 49,988,957
Earnings per share attributable to common shareholders      
Basic (in dollars per share) $ 15.99 $ 13.49 $ 14.49
Diluted (in dollars per share) $ 15.99 $ 13.48 $ 14.48
Weighted average shares outstanding      
Basic (in shares) 3,436,574 3,512,470 3,448,824
Diluted (in shares) 3,436,641 3,514,528 3,451,838
Investment advisory      
REVENUES:      
Total revenue $ 128,009,409 $ 135,317,805 $ 132,688,462
Mutual fund administration, net      
REVENUES:      
Total revenue $ 8,614,971 $ 10,309,943 $ 12,513,267