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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES:        
Revenue $ 28,248,929 $ 33,545,016 $ 60,174,674 $ 66,124,389
OPERATING EXPENSES:        
Compensation and related costs, excluding deferred compensation expense (benefit) 12,557,769 14,341,924 27,974,945 27,899,046
Deferred compensation expense (benefit) 3,825,540 1,282,627 (4,330,341) 3,694,886
General and administrative 2,899,853 3,543,527 4,828,509 6,788,059
Sales and marketing 1,148,782 1,447,266 2,604,464 2,817,982
Mutual fund administration 789,316 849,676 1,604,269 1,710,717
Total operating expenses 21,221,260 21,465,020 32,681,846 42,910,690
NET OPERATING INCOME 7,027,669 12,079,996 27,492,828 23,213,699
Investment income (loss), net 11,562,624 6,519,596 (10,835,468) 20,804,473
NET INCOME BEFORE TAXES 18,590,293 18,599,592 16,657,360 44,018,172
Income tax expense 4,951,814 4,442,023 5,547,249 10,304,756
NET INCOME 13,638,479 14,157,569 11,110,111 33,713,416
Net loss (income) attributable to redeemable noncontrolling interest 1,437,789 962,417 (2,620,687) 3,585,622
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 12,200,690 $ 13,195,152 $ 13,730,798 $ 30,127,794
Earnings per share attributable to common shareholders        
Basic (USD per share) $ 3.79 $ 3.79 $ 4.23 $ 8.64
Diluted (USD per share) $ 3.79 $ 3.79 $ 4.23 $ 8.64
Weighted average shares outstanding        
Basic (in shares) 3,220,973 3,478,307 3,246,867 3,486,032
Diluted (in shares) 3,220,973 3,478,307 3,246,867 3,486,504
Investment advisory        
REVENUES:        
Revenue $ 26,698,993 $ 31,510,672 $ 56,856,673 $ 62,023,389
Mutual fund administration revenue, net        
REVENUES:        
Revenue $ 1,549,936 $ 2,034,344 $ 3,318,001 $ 4,101,000