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Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Property, plant and equipment

Property, plant and equipment consist of the following as of December 31, 2024 and December 31, 2023:

			As of December 31,
			2024						2023
Furniture and Fixtures			$	7,033,635					$	7,033,635
Software and Hardware			5,228,929						5,095,529
Construction in Progress			4,067,215						—
Right of Use Lease Asset			3,443,019						630,169
Total			19,772,798						12,759,333
Less: Accumulated Depreciation			(11,392,204)						(10,167,729)
Net Property, Plant and Equipment			$	8,380,594					$	2,591,604

Revenue under contracts with clients

Revenue from contracts with clients that was earned during the years ended December 31, 2024, 2023 and 2022 include:

			Year Ended December 31, 2024
			Investment advisory						Fund administration, net						Total revenue
Proprietary Funds			$	92,531,710					$	7,753,188					$	100,284,898
SMAs			27,382,582						—						27,382,582
Other pooled vehicles			11,465,794						—						11,465,794
CITs			6,671,696						—						6,671,696
Model delivery			5,290,161						—						5,290,161
			$	143,341,943					$	7,753,188					$	151,095,131

			Year Ended December 31, 2023
			Investment advisory						Fund administration, net						Total revenue
Proprietary Funds			$	84,810,452					$	7,536,871					$	92,347,323
SMAs			26,075,046						—						26,075,046
Other pooled vehicles			9,261,533						—						9,261,533
Model delivery			5,211,113						—						5,211,113
CITs			3,821,356						—						3,821,356
			$	129,179,500					$	7,536,871					$	136,716,371

			Year Ended December 31, 2022
			Investment advisory						Fund administration, net						Total revenue
Proprietary Funds			$	98,873,571					$	10,170,502					$	109,044,073
SMAs			27,700,949						—						27,700,949
Other pooled vehicles			9,410,541						—						9,410,541
Model delivery			5,910,061						—						5,910,061
CITs			2,430,395						—						2,430,395
			$	144,325,517					$	10,170,502					$	154,496,019

Mutual fund administration gross and net revenue

und administration gross and net revenue are summarized below:

			Year Ended December 31,
			2024						2023						2022
Fund administration:
Administration revenue, gross			$	24,719,844					$	21,597,721					$	25,188,386
Fund related expense			(16,966,656)						(14,060,850)						(15,017,884)
Fund administration revenue, net			$	7,753,188					$	7,536,871					$	10,170,502

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

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-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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