CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Total Revenues	$ 1,070,315	$ 1,160,301	$ 1,157,144
Operating expenses:
Distribution	460,921	456,832	432,264
Compensation and benefits (including share-based compensation of $46,613, $51,565 and $57,716, respectively)	254,534	263,329	271,276
General and administrative	77,482	73,643	88,951
Technology	63,719	65,275	66,078
Occupancy	24,243	27,197	30,721
Marketing and advertising	8,964	10,323	12,425
Depreciation	19,829	25,649	20,983
Subadvisory fees	14,931	14,805	13,174
Intangible asset impairment		1,200	1,500
Total	924,623	938,253	937,372
Operating income	145,692	222,048	219,772
Investment and other income	18,886	22,705	37,084
Interest expense	(6,195)	(6,461)	(11,279)
Income before provision for income taxes	158,383	238,292	245,577
Provision for income taxes	41,418	55,480	101,368
Net income	116,965	182,812	144,209
Net income (loss) attributable to redeemable noncontrolling interests	1,973	(776)	2,930
Net income attributable to Waddell & Reed Financial, Inc.	$ 114,992	$ 183,588	$ 141,279
Net income per share attributable to Waddell and Reed Financial, Inc. common shareholders, basic and diluted:	$ 1.57	$ 2.28	$ 1.69
Weighted average shares outstanding, basic and diluted:	73,299	80,468	83,573
Investment management fees
Revenues:
Total Revenues	$ 445,144	$ 507,906	$ 531,850
Underwriting and distribution fees
Revenues:
Total Revenues	531,836	550,010	518,699
Shareholder service fees
Revenues:
Total Revenues	$ 93,335	$ 102,385	$ 106,595