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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 DXaka01FbtxODxsZkM4Bow==

<SEC-DOCUMENT>0001190808-04-000001.txt : 20040406
<SEC-HEADER>0001190808-04-000001.hdr.sgml : 20040406
<ACCEPTANCE-DATETIME>20040406174846
ACCESSION NUMBER:		0001190808-04-000001
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040402
FILED AS OF DATE:		20040406

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHIEBER MARK A
		CENTRAL INDEX KEY:			0001190808

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-43687
		FILM NUMBER:		04721059

	BUSINESS ADDRESS:	
		STREET 1:		6300 LAMAR AVE
		CITY:			OVERLAND PARK
		STATE:			KS
		ZIP:			66202
		BUSINESS PHONE:		9132362000

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WADDELL & REED FINANCIAL INC
		CENTRAL INDEX KEY:			0001052100
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				510261715
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		6300 LAMAR AVE
		CITY:			OVERLAND PARK
		STATE:			KS
		ZIP:			66202-4200
		BUSINESS PHONE:		9132362000

	MAIL ADDRESS:	
		STREET 1:		PO BOX 29217
		CITY:			SHAWNEE MISSION
		STATE:			KS
		ZIP:			66201-9217
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-04-02</periodOfReport>

    <issuer>
        <issuerCik>0001052100</issuerCik>
        <issuerName>WADDELL &amp; REED FINANCIAL INC</issuerName>
        <issuerTradingSymbol>WDR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001190808</rptOwnerCik>
            <rptOwnerName>SCHIEBER MARK A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6300 LAMAR AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>OVERLAND PARK</rptOwnerCity>
            <rptOwnerState>KS</rptOwnerState>
            <rptOwnerZipCode>66202</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VP, PAO, Controller</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common</value>
            </securityTitle>
            <transactionDate>
                <value>2004-04-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5732</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2650.3</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>401(k) Units</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Includes 2, 1, 1, 1 and 1 shares of Class A common stock acquired through dividend re-investments on 2/3/03, 5/1/03, 8/1/03, 11/3/03 and 2/2/04.  Additionally, Mr. Schieber previously reported ownership of 2,505 shares of Class A common stock held in the Company's 401(k) and Thrift Plan (the &quot;401(k) Plan&quot;) on a Form 4 dated December 31, 2002.  These shares are held in the Company 401(k) Plan unitized stock fund and the total number of shares held will fluctuate with the market price of the Class A common stock.  To avoid confusion, these 2,505 shares have been withdrawn from the total number of shares of Class A common stock owned and are now more accurately being reported as units in the Company's 401(k) Plan unitized stock fund.</footnote>
        <footnote id="F2">Units (which include Class A common stock and cash reserves) representing Mr. Schieber's interest in the Company's 401(k) Plan unitized stock fund as of December 31, 2003.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Mark A. Schieber</signatureName>
        <signatureDate>2004-04-05</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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