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Segment Information (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Channel
Segment
Mar. 31, 2012
Dec. 31, 2012
Segment Information      
Number of operating segments 3    
Number of principal distribution channels 3    
Statements of Income      
Revenue $ 502.2 $ 417.7  
Operating expenses:      
Depreciation, intangible amortization and impairments 36.4 33.8  
Other operating expenses 315.3 275.1  
Total operating expenses 351.7 308.9  
Operating income 150.5 108.8  
Income from equity method investments 50.6 14.5  
Other non-operating (income) and expenses:      
Investment and other income (4.5) (10.4)  
Interest expense 24.2 18.6  
Imputed interest and contingent payment arrangements 14.2 (2.5)  
Total non-operating (income) and expenses 33.9 5.7  
Income before income taxes 167.2 117.6  
Income taxes 37.5 24.6  
Net income 129.7 93.0  
Net income (non-controlling interests) (67.3) (55.6)  
Net income (controlling interest) 62.4 37.4  
Balance Sheet Information      
Total assets 6,225.1   6,187.1
Institutional
      
Statements of Income      
Revenue 223.8 206.8  
Operating expenses:      
Depreciation, intangible amortization and impairments 19.6 19.9  
Other operating expenses 140.6 129.7  
Total operating expenses 160.2 149.6  
Operating income 63.6 57.2  
Income from equity method investments 44.4 10.5  
Other non-operating (income) and expenses:      
Investment and other income (2.4) (5.1)  
Interest expense 14.4 10.9  
Imputed interest and contingent payment arrangements 4.4 2.3  
Total non-operating (income) and expenses 16.4 8.1  
Income before income taxes 91.6 59.6  
Income taxes 22.1 11.8  
Net income 69.5 47.8  
Net income (non-controlling interests) (30.8) (28.9)  
Net income (controlling interest) 38.7 18.9  
Balance Sheet Information      
Total assets 2,953.3   3,176.5
Mutual Fund
      
Statements of Income      
Revenue 227.6 175.7  
Operating expenses:      
Depreciation, intangible amortization and impairments 13.6 12.0  
Other operating expenses 145.3 123.0  
Total operating expenses 158.9 135.0  
Operating income 68.7 40.7  
Income from equity method investments 3.8 2.6  
Other non-operating (income) and expenses:      
Investment and other income (1.9) (4.0)  
Interest expense 7.6 6.0  
Imputed interest and contingent payment arrangements 9.2 (5.1)  
Total non-operating (income) and expenses 14.9 (3.1)  
Income before income taxes 57.6 46.4  
Income taxes 11.7 10.6  
Net income 45.9 35.8  
Net income (non-controlling interests) (28.7) (21.1)  
Net income (controlling interest) 17.2 14.7  
Balance Sheet Information      
Total assets 2,644.7   2,354.8
High Net Worth
      
Statements of Income      
Revenue 50.8 35.2  
Operating expenses:      
Depreciation, intangible amortization and impairments 3.2 1.9  
Other operating expenses 29.4 22.4  
Total operating expenses 32.6 24.3  
Operating income 18.2 10.9  
Income from equity method investments 2.4 1.4  
Other non-operating (income) and expenses:      
Investment and other income (0.2) (1.3)  
Interest expense 2.2 1.7  
Imputed interest and contingent payment arrangements 0.6 0.3  
Total non-operating (income) and expenses 2.6 0.7  
Income before income taxes 18.0 11.6  
Income taxes 3.7 2.2  
Net income 14.3 9.4  
Net income (non-controlling interests) (7.8) (5.6)  
Net income (controlling interest) 6.5 3.8  
Balance Sheet Information      
Total assets $ 627.1   $ 655.8