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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES:        
Revenue $ 55,054,554 $ 31,175,755 $ 139,138,640 $ 91,350,429
OPERATING EXPENSES:        
Compensation and related costs, excluding deferred compensation expense (benefit) 20,432,734 13,704,075 56,187,709 41,679,020
Deferred compensation expense (benefit) 3,305 1,961,361 4,617,505 (2,368,980)
General and administrative 3,637,166 3,096,115 10,323,809 7,924,624
Sales and marketing 1,766,943 1,581,142 5,671,825 4,185,606
Mutual fund administration 893,417 863,463 2,717,807 2,467,732
Total operating expenses 26,733,565 21,206,156 79,518,655 53,888,002
NET OPERATING INCOME 28,320,989 9,969,599 59,619,985 37,462,427
Investment income (loss), net (2,629,589) 5,052,794 8,910,951 (5,782,674)
Gain on sale of high yield-focused advisory contracts 9,000,000 0 9,000,000 0
NET INCOME BEFORE TAXES 34,691,400 15,022,393 77,530,936 31,679,753
Income tax expense 9,815,605 3,881,810 20,765,990 9,429,059
NET INCOME 24,875,795 11,140,583 56,764,946 22,250,694
Net loss (income) attributable to redeemable noncontrolling interest (751,850) 575,068 563,960 (2,045,619)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 25,627,645 $ 10,565,515 $ 56,200,986 $ 24,296,313
Earnings per share attributable to common shareholders        
Basic (USD per share) $ 8.03 $ 3.30 $ 17.66 $ 7.52
Diluted (USD per share) $ 8.03 $ 3.30 $ 17.66 $ 7.52
Weighted average shares outstanding        
Basic (in shares) 3,192,535 3,200,957 3,182,065 3,231,452
Diluted (in shares) 3,192,535 3,200,957 3,182,065 3,231,452
Investment advisory        
REVENUES:        
Revenue $ 51,848,379 $ 29,362,652 $ 130,133,909 $ 86,219,325
Mutual fund administration revenue, net        
REVENUES:        
Revenue $ 3,206,175 $ 1,813,103 $ 9,004,731 $ 5,131,104