Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Apr. 15, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K/A
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Entity File Number	001-13913
Entity Registrant Name	WADDELL & REED FINANCIAL, INC.
Entity Central Index Key	0001052100
Entity Tax Identification Number	51-0261715
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	6300 Lamar Avenue
Entity Address, City or Town	Overland Park
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66202
City Area Code	913
Local Phone Number	236-2000
Title of 12(b) Security	Class A Common Stock, $.01 par value
Trading Symbol	WDR
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 973.6
Entity Common Stock, Shares Outstanding		62,024,785
ICFR Auditor Attestation Flag	true