XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
REVENUES:    
Revenue $ 42,256,386 $ 39,014,433
OPERATING EXPENSES:    
Compensation and related costs, excluding deferred compensation expense (benefit) 18,646,894 16,814,941
Deferred compensation expense (benefit) (1,178,556) 3,102,946
General and administrative 3,185,971 2,815,678
Sales and marketing 1,711,160 1,868,026
Mutual fund administration 817,878 880,721
Total operating expenses 23,183,347 25,482,312
NET OPERATING INCOME 19,073,039 13,532,121
Investment income (loss), net (7,592,257) 5,663,454
NET INCOME BEFORE TAXES 11,480,782 19,195,575
Income tax expense 3,205,766 4,932,962
NET INCOME 8,275,016 14,262,613
Net loss (income) attributable to redeemable noncontrolling interest (854,936) 554,102
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 9,129,952 $ 13,708,511
Earnings per share attributable to common shareholders    
Basic (USD per share) $ 2.87 $ 4.34
Diluted (USD per share) $ 2.87 $ 4.34
Weighted average shares outstanding    
Basic (in shares) 3,185,930 3,156,768
Diluted (in shares) 3,185,930 3,156,768
Investment advisory    
REVENUES:    
Revenue $ 39,278,886 $ 36,569,103
Mutual fund administration, net    
REVENUES:    
Revenue $ 2,977,500 $ 2,445,330