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Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUES:      
Total revenue $ 151,095,131 $ 136,716,371 $ 154,496,019
OPERATING EXPENSES:      
Compensation and related costs, excluding deferred compensation expense (benefit) 74,588,900 70,730,640 70,505,216
Deferred compensation expense (benefit) 4,775,627 5,599,880 (4,402,265)
General and administrative 16,784,783 14,935,033 13,606,922
Sales and marketing 7,510,182 6,684,410 7,159,686
Fund administration 3,543,848 3,262,421 3,294,983
Total operating expenses 107,203,340 101,212,384 90,164,542
NET OPERATING INCOME 43,891,791 35,503,987 64,331,477
Investment income (loss), net 15,119,200 23,071,441 (20,186,511)
Gain on sale of High Yield-Focused Advisory Contracts 0 0 6,813,579
Total non-operating income (loss) 15,119,200 23,071,441 (13,372,932)
NET INCOME BEFORE TAXES 59,010,991 58,575,428 50,958,545
Income tax expense (15,833,073) (15,489,880) (14,087,783)
NET INCOME 43,177,918 43,085,548 36,870,762
Net (income) loss attributable to redeemable noncontrolling interest (189) (859,126) 3,563,345
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 43,177,729 $ 42,226,422 $ 40,434,107
Earnings per share attributable to common shareholders      
Basic (in dollars per share) $ 15.66 $ 14.32 $ 13.01
Diluted (in dollars per share) $ 15.66 $ 14.32 $ 13.01
Weighted average shares outstanding      
Basic (in shares) 2,757,860 2,948,625 3,107,604
Diluted (in shares) 2,757,860 2,948,625 3,107,604
Investment advisory      
REVENUES:      
Total revenue $ 143,341,943 $ 129,179,500 $ 144,325,517
Fund administration, net      
REVENUES:      
Total revenue $ 7,753,188 $ 7,536,871 $ 10,170,502