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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES:        
Revenue $ 38,264,674 $ 55,054,554 $ 119,542,174 $ 139,138,640
OPERATING EXPENSES:        
Compensation and related costs, excluding deferred compensation expense (benefit) 17,259,543 20,432,734 53,128,680 56,187,709
Deferred compensation expense (benefit) (1,051,637) 3,305 (6,920,586) 4,617,505
General and administrative 3,475,423 3,637,166 10,174,719 10,323,809
Sales and marketing 1,728,827 1,766,943 5,326,890 5,671,825
Mutual fund administration 819,921 893,417 2,475,323 2,717,807
Total operating expenses 22,232,077 26,733,565 64,185,026 79,518,655
NET OPERATING INCOME 16,032,597 28,320,989 55,357,148 59,619,985
Investment income (loss), net (8,031,706) (2,629,589) (33,301,836) 8,910,951
Gain on sale of high yield-focused advisory contracts 6,813,579 9,000,000 6,813,579 9,000,000
NET INCOME BEFORE TAXES 14,814,470 34,691,400 28,868,891 77,530,936
Income tax expense 4,442,070 9,815,605 9,005,711 20,765,990
NET INCOME 10,372,400 24,875,795 19,863,180 56,764,946
Net loss (income) attributable to redeemable noncontrolling interest (1,642,040) (751,850) (5,694,098) 563,960
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 12,014,440 $ 25,627,645 $ 25,557,278 $ 56,200,986
Earnings per share attributable to common shareholders        
Basic (USD per share) $ 3.90 $ 8.03 $ 8.14 $ 17.66
Diluted (USD per share) $ 3.90 $ 8.03 $ 8.14 $ 17.66
Weighted average shares outstanding        
Basic (in shares) 3,078,666 3,192,535 3,138,834 3,182,065
Diluted (in shares) 3,078,666 3,192,535 3,138,834 3,182,065
Investment advisory        
REVENUES:        
Revenue $ 35,842,083 $ 51,848,379 $ 111,529,134 $ 130,133,909
Mutual fund administration, net        
REVENUES:        
Revenue $ 2,422,591 $ 3,206,175 $ 8,013,040 $ 9,004,731