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Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES:      
Total revenue $ 154,496,019 $ 182,193,837 $ 126,387,718
OPERATING EXPENSES:      
Compensation and related costs, excluding deferred compensation expense (benefit) 70,505,216 73,591,327 58,291,670
Deferred compensation expense (benefit) (4,402,265) 7,082,153 2,218,898
General and administrative 13,606,922 14,020,836 11,002,572
Sales and marketing 7,159,686 7,659,423 5,999,846
Mutual fund administration 3,294,983 3,581,960 3,336,575
Total operating expenses 90,164,542 105,935,699 80,849,561
NET OPERATING INCOME 64,331,477 76,258,138 45,538,157
Investment income (loss), net (20,186,511) 16,381,216 6,584,849
Gain on sale of High Yield-Focused Advisory Contracts 6,813,579 9,000,000 0
Total non-operating income (loss) (13,372,932) 25,381,216 6,584,849
NET INCOME BEFORE TAXES 50,958,545 101,639,354 52,123,006
Income tax expense (14,087,783) (26,049,815) (13,957,868)
NET INCOME 36,870,762 75,589,539 38,165,138
Net loss (income) attributable to redeemable noncontrolling interest 3,563,345 (1,388,930) 495,407
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 40,434,107 $ 74,200,609 $ 38,660,545
Earnings per share attributable to common shareholders      
Basic (in dollars per share) $ 13.01 $ 23.34 $ 12.03
Diluted (in dollars per share) $ 13.01 $ 23.34 $ 12.03
Weighted average shares outstanding      
Basic (in shares) 3,107,604 3,179,497 3,214,564
Diluted (in shares) 3,107,604 3,179,497 3,214,564
Investment advisory      
REVENUES:      
Total revenue $ 144,325,517 $ 170,137,609 $ 119,125,230
Mutual fund administration, net      
REVENUES:      
Total revenue $ 10,170,502 $ 12,056,228 $ 7,262,488