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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
REVENUES:    
Revenue $ 31,925,745 $ 32,579,373
OPERATING EXPENSES:    
Compensation and related costs, excluding deferred compensation (benefit) expense 15,417,176 13,557,122
Deferred compensation expense (benefit) (8,155,881) 2,412,260
General and administrative 1,928,656 3,244,532
Sales and marketing 1,455,682 1,370,716
Mutual fund administration 814,953 861,040
Total operating expenses 11,460,586 21,445,670
NET OPERATING INCOME 20,465,159 11,133,703
Investment income (loss), net (22,398,092) 14,284,877
NET INCOME (LOSS) BEFORE TAXES (1,932,933) 25,418,580
Income tax expense 595,435 5,862,733
NET INCOME (LOSS) (2,528,368) 19,555,847
Net loss (income) attributable to redeemable noncontrolling interest (4,058,476) 2,623,205
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 1,530,108 $ 16,932,642
Earnings per share attributable to common shareholders    
Basic (USD per share) $ 0.47 $ 4.85
Diluted (USD per share) $ 0.47 $ 4.84
Weighted average shares outstanding    
Basic (in shares) 3,272,761 3,493,843
Diluted (in shares) 3,272,761 3,496,534
Investment advisory    
REVENUES:    
Revenue $ 30,157,680 $ 30,512,718
Mutual fund administration revenue, net    
REVENUES:    
Revenue $ 1,768,065 $ 2,066,655