XML 19 R7.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
REVENUES:    
Revenue $ 39,014,433 $ 31,925,745
OPERATING EXPENSES:    
Compensation and related costs, excluding deferred compensation expense (benefit) 16,814,941 15,417,176
Deferred compensation expense (benefit) 3,102,946 (8,155,881)
General and administrative 2,815,678 1,928,656
Sales and marketing 1,868,026 1,455,682
Mutual fund administration 880,721 814,953
Total operating expenses 25,482,312 11,460,586
NET OPERATING INCOME 13,532,121 20,465,159
Investment income (loss), net 5,663,454 (22,398,092)
NET INCOME (LOSS) BEFORE TAXES 19,195,575 (1,932,933)
Income tax expense 4,932,962 595,435
NET INCOME (LOSS) 14,262,613 (2,528,368)
Net loss (income) attributable to redeemable noncontrolling interest 554,102 (4,058,476)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 13,708,511 $ 1,530,108
Earnings per share attributable to common shareholders    
Basic (USD per share) $ 4.34 $ 0.47
Diluted (USD per share) $ 4.34 $ 0.47
Weighted average shares outstanding    
Basic (in shares) 3,156,768 3,272,761
Diluted (in shares) 3,156,768 3,272,761
Investment advisory    
REVENUES:    
Revenue $ 36,569,103 $ 30,157,680
Mutual fund administration revenue, net    
REVENUES:    
Revenue $ 2,445,330 $ 1,768,065