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Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
REVENUES:      
Total revenue $ 182,193,837 $ 126,387,718 $ 136,624,380
OPERATING EXPENSES:      
Compensation and related costs, excluding deferred compensation expense 73,591,327 58,291,670 60,264,117
Deferred compensation expense 7,082,153 2,218,898 5,976,938
General and administrative 14,020,836 11,002,572 13,277,843
Sales and marketing 7,659,423 5,999,846 5,867,297
Mutual fund administration 3,581,960 3,336,575 3,302,767
Total operating expenses 105,935,699 80,849,561 88,688,962
NET OPERATING INCOME 76,258,138 45,538,157 47,935,418
Investment income, net 16,381,216 6,584,849 30,507,375
Gain on sale of high yield-focused advisory contracts 9,000,000 0 0
NET INCOME BEFORE TAXES 101,639,354 52,123,006 78,442,793
Income tax expense (26,049,815) (13,957,868) (18,688,474)
NET INCOME 75,589,539 38,165,138 59,754,319
Net loss (income) attributable to redeemable noncontrolling interest (1,388,930) 495,407 (4,795,295)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 74,200,609 $ 38,660,545 $ 54,959,024
Earnings per share attributable to common shareholders      
Basic (in dollars per share) $ 23.34 $ 12.03 $ 15.99
Diluted (in dollars per share) $ 23.34 $ 12.03 $ 15.99
Weighted average shares outstanding      
Basic (in shares) 3,179,497 3,214,564 3,436,574
Diluted (in shares) 3,179,497 3,214,564 3,436,641
Investment advisory      
REVENUES:      
Total revenue $ 170,137,609 $ 119,125,230 $ 128,009,409
Mutual fund administration, net      
REVENUES:      
Total revenue $ 12,056,228 $ 7,262,488 $ 8,614,971