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Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
REVENUES:      
Total revenue $ 126,387,718 $ 136,624,380 $ 145,627,748
OPERATING EXPENSES:      
Compensation and related costs, excluding deferred compensation expense 58,291,670 60,264,117 55,975,361
Deferred compensation expense (benefit) 2,218,898 5,976,938 (2,121,691)
General and administrative 11,002,572 13,277,843 11,648,925
Sales and marketing 5,999,846 5,867,297 5,242,848
Mutual fund administration 3,336,575 3,302,767 3,625,898
Total operating expenses 80,849,561 88,688,962 74,371,341
NET OPERATING INCOME 45,538,157 47,935,418 71,256,407
Investment income (loss), net 6,584,849 30,507,375 (6,272,678)
INCOME BEFORE TAXES 52,123,006 78,442,793 64,983,729
Income tax expense (13,957,868) (18,688,474) (18,669,341)
NET INCOME 38,165,138 59,754,319 46,314,388
Net loss (income) attributable to redeemable noncontrolling interest 495,407 (4,795,295) 1,061,441
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 38,660,545 $ 54,959,024 $ 47,375,829
Earnings per share attributable to common shareholders      
Basic (in dollars per share) $ 12.03 $ 15.99 $ 13.49
Diluted (in dollars per share) $ 12.03 $ 15.99 $ 13.48
Weighted average shares outstanding      
Basic (in shares) 3,214,564 3,436,574 3,512,470
Diluted (in shares) 3,214,564 3,436,641 3,514,528
Investment advisory      
REVENUES:      
Total revenue $ 119,125,230 $ 128,009,409 $ 135,317,805
Mutual fund administration, net      
REVENUES:      
Total revenue $ 7,262,488 $ 8,614,971 $ 10,309,943