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Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUES:        
Revenue $ 35,554,280 $ 38,264,674 $ 102,895,420 $ 119,542,174
OPERATING EXPENSES:        
Compensation and related costs, excluding deferred compensation expense (benefit) 17,837,787 17,259,543 51,600,045 53,128,680
Deferred compensation expense (benefit) (859,252) (1,051,637) 1,867,983 (6,920,586)
General and administrative 3,819,667 3,475,423 10,963,453 10,174,719
Sales and marketing 1,566,997 1,728,827 4,941,079 5,326,890
Mutual fund administration 827,887 819,921 2,433,916 2,475,323
Total operating expenses 23,193,086 22,232,077 71,806,476 64,185,026
NET OPERATING INCOME 12,361,194 16,032,597 31,088,944 55,357,148
Investment income (loss), net (4,636,952) (8,031,706) 9,722,494 (33,301,836)
Gain on sale of high yield-focused advisory contracts 0 6,813,579 0 6,813,579
Nonoperating Income (Expense) (4,636,952) (1,218,127) 9,722,494 (26,488,257)
NET INCOME BEFORE TAXES 7,724,242 14,814,470 40,811,438 28,868,891
Income tax expense 2,523,649 4,442,070 11,338,849 9,005,711
NET INCOME 5,200,593 10,372,400 29,472,589 19,863,180
Net (income) loss attributable to redeemable noncontrolling interest (1,272,839) (1,642,040) 859,126 (5,694,098)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 6,473,432 $ 12,014,440 $ 28,613,463 $ 25,557,278
Earnings per share attributable to common shareholders        
Basic (USD per share) $ 2.20 $ 3.90 $ 9.61 $ 8.14
Diluted (USD per share) $ 2.20 $ 3.90 $ 9.61 $ 8.14
Weighted average shares outstanding        
Basic (in shares) 2,939,055 3,078,666 2,977,853 3,138,834
Diluted (in shares) 2,939,055 3,078,666 2,977,853 3,138,834
Investment advisory        
REVENUES:        
Revenue $ 33,668,351 $ 35,842,083 $ 97,211,253 $ 111,529,134
Mutual fund administration, net        
REVENUES:        
Revenue $ 1,885,929 $ 2,422,591 $ 5,684,167 $ 8,013,040