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Segment Information (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Channel
Segment
Dec. 31, 2011
Dec. 31, 2010
Segment Information                      
Number of operating segments                 3    
Number of principal distribution channels                 3    
Revenue attributable to clients domiciled outside the United States (as a percent)                 41.00% 39.00% 33.00%
Statements of Income                      
Revenue $ 491.0 $ 467.3 $ 429.6 $ 417.6 $ 402.4 $ 413.8 $ 462.3 $ 426.3 $ 1,805.5 $ 1,704.8 $ 1,358.2
Operating expenses:                      
Depreciation, intangible amortization and impairments                 214.1 112.7 74.1
Other operating expenses                 1,191.0 1,106.0 910.1
Total operating expenses                 1,405.1 1,218.7 984.2
Operating income 126.9 139.7 25.0 108.8 95.2 126.0 140.0 124.9 400.4 486.1 374.0
Income from equity method investments                 (129.7) (72.7) (77.5)
Other non-operating (income) and expenses:                      
Investment and other (income) loss                 (22.0) 5.0 (18.4)
Interest expense                 83.0 73.8 66.2
Imputed interest and contingent payment arrangements                 (26.1) 27.3 24.9
Total non-operating (income) and expenses                 34.9 106.1 72.7
Income before income taxes 177.1 137.5 62.9 117.7 109.0 99.9 127.7 116.1 495.2 452.7 378.8
Income taxes                 83.8 93.1 91.5
Net income                 411.4 359.6 287.3
Net income (non-controlling interests)                 (237.4) (194.7) (148.7)
Net income (controlling interest) 75.0 54.9 6.6 37.5 40.3 40.1 45.4 39.1 174.0 164.9 138.6
Balance Sheet Information                      
Total assets 6,187.1       5,218.9       6,187.1 5,218.9 5,279.8
Goodwill 2,355.2       2,117.3       2,355.2 2,117.3 2,121.9
Institutional
                      
Statements of Income                      
Revenue                 861.3 841.4 649.2
Operating expenses:                      
Depreciation, intangible amortization and impairments                 75.4 76.9 49.6
Other operating expenses                 554.2 524.9 424.9
Total operating expenses                 629.6 601.8 474.5
Operating income                 231.7 239.6 174.7
Income from equity method investments                 (103.9) (57.2) (70.4)
Other non-operating (income) and expenses:                      
Investment and other (income) loss                 (13.6) (6.9) (10.8)
Interest expense                 50.7 39.7 36.1
Imputed interest and contingent payment arrangements                 (8.1) 15.1 13.5
Total non-operating (income) and expenses                 29.0 47.9 38.8
Income before income taxes                 306.6 248.9 206.3
Income taxes                 63.7 53.4 47.1
Net income                 242.9 195.5 159.2
Net income (non-controlling interests)                 (116.9) (105.3) (81.4)
Net income (controlling interest)                 126.0 90.2 77.8
Balance Sheet Information                      
Total assets 3,176.5       2,836.2       3,176.5 2,836.2 2,997.4
Goodwill 1,078.5       1,071.4       1,078.5 1,071.4 1,073.6
Equity method investments included in total assets 879.6       490.6       879.6 490.6 630.1
Mutual Fund
                      
Statements of Income                      
Revenue                 774.4 723.7 578.8
Operating expenses:                      
Depreciation, intangible amortization and impairments                 128.9 28.0 15.3
Other operating expenses                 526.5 492.4 401.2
Total operating expenses                 655.4 520.4 416.5
Operating income                 119.0 203.3 162.3
Income from equity method investments                 (12.7) (7.9) 0.4
Other non-operating (income) and expenses:                      
Investment and other (income) loss                 (6.6) 0.6 (7.6)
Interest expense                 24.0 27.7 23.5
Imputed interest and contingent payment arrangements                 (19.5) 9.9 8.9
Total non-operating (income) and expenses                 (2.1) 38.2 24.8
Income before income taxes                 133.8 173.0 137.1
Income taxes                 10.7 34.4 36.2
Net income                 123.1 138.6 100.9
Net income (non-controlling interests)                 (95.8) (73.1) (54.6)
Net income (controlling interest)                 27.3 65.5 46.3
Balance Sheet Information                      
Total assets 2,354.8       1,920.6       2,354.8 1,920.6 1,848.4
Goodwill 939.5       785.0       939.5 785.0 786.7
Equity method investments included in total assets 81.2       75.6       81.2 75.6 9.1
High Net Worth
                      
Statements of Income                      
Revenue                 169.8 139.7 130.2
Operating expenses:                      
Depreciation, intangible amortization and impairments                 9.8 7.8 9.2
Other operating expenses                 110.3 88.7 84.0
Total operating expenses                 120.1 96.5 93.2
Operating income                 49.7 43.2 37.0
Income from equity method investments                 (13.1) (7.6) (7.5)
Other non-operating (income) and expenses:                      
Investment and other (income) loss                 (1.8) 11.3  
Interest expense                 8.3 6.4 6.6
Imputed interest and contingent payment arrangements                 1.5 2.3 2.5
Total non-operating (income) and expenses                 8.0 20.0 9.1
Income before income taxes                 54.8 30.8 35.4
Income taxes                 9.4 5.3 8.2
Net income                 45.4 25.5 27.2
Net income (non-controlling interests)                 (24.7) (16.3) (12.7)
Net income (controlling interest)                 20.7 9.2 14.5
Balance Sheet Information                      
Total assets 655.8       462.1       655.8 462.1 434.0
Goodwill 337.2       260.9       337.2 260.9 261.6
Equity method investments included in total assets $ 70.5       $ 49.6       $ 70.5 $ 49.6 $ 39.7