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Consolidated Statements of Cash Flows (unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 40,096,711 $ 35,786,366
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 822,908 934,742
Share-based compensation 9,871,786 9,026,666
Decrease (increase) in accounts receivable 1,837,920 (2,759,125)
Change in current income taxes 1,699,936 (1,000,345)
Change in deferred income taxes 3,726,804 2,944,390
Net gain on investments (21,495,574) (15,658,032)
Net change in securities held by Consolidated Funds (53,078,436) 0
Decrease in accrued incentive compensation (10,961,314) (6,835,102)
Increase in deferred compensation 1,414,960 2,837,692
Other changes in assets and liabilities 2,672,374 162,487
Net cash (used in) provided by operating activities (23,391,925) 25,439,739
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,891,892) (406,400)
Purchase of Company sponsored investments (6,374,945) (10,451,525)
Proceeds from sale of Company sponsored investments 41,071,083 10,584,536
Net cash provided by (used in) investing activities 32,804,246 (273,389)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Value of shares withheld related to employee tax withholding obligations (4,126,593) (4,583,042)
Payment of dividends (12,306,569) (12,473,236)
Redemptions of redeemable noncontrolling interest holders (55,009) 0
Subscriptions received from redeemable noncontrolling interest holders 22,742,349 0
Repurchases of common shares (14,499,660) (21,701,201)
Proceeds received under employee stock purchase plan 227,890 315,022
Net cash used in financing activities (8,017,592) (38,442,457)
CASH AND CASH EQUIVALENTS    
Net change during the period 1,394,729 (13,276,107)
At beginning of period 41,624,604 46,991,879
At end of period 43,019,333 33,715,772
Supplemental information related to cash activities:    
Income taxes paid 9,202,401 11,302,545
Supplemental information related to non-cash activities    
Operating lease right-of-use asset addition, net of lease incentive 207,227 3,173,981
Lease incentives included in property and equipment $ 174,675 $ 2,837,175