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Segment Information (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Channel
Segment
Mar. 31, 2013
Dec. 31, 2013
Segment Reporting [Abstract]      
Number of operating segments 3    
Number of principal distribution channels 3    
Statements of Income      
Revenue $ 593.1 $ 502.2  
Operating expenses:      
Depreciation, intangible amortization and impairments 31.2 36.4  
Other operating expenses 367.9 315.3  
Total operating expenses 399.1 351.7  
Operating income 194.0 150.5  
Income from equity method investments 46.2 50.6  
Other non-operating (income) and expenses:      
Investment and other income (8.2) (4.5)  
Interest expense 17.6 24.2  
Imputed interest expense and contingent payment arrangements 22.5 14.2  
Total non-operating (income) and expenses 31.9 33.9  
Income before income taxes 208.3 167.2  
Income taxes 48.9 37.5  
Net income 159.4 129.7  
Net income (non-controlling interests) (82.2) (67.3)  
Net income (controlling interest) 77.2 62.4  
Balance Sheet Information      
Total assets 6,620.9   6,318.8
Institutional [Member]
      
Statements of Income      
Revenue 244.9 223.8  
Operating expenses:      
Depreciation, intangible amortization and impairments 23.3 19.6  
Other operating expenses 154.9 140.6  
Total operating expenses 178.2 160.2  
Operating income 66.7 63.6  
Income from equity method investments 37.0 44.4  
Other non-operating (income) and expenses:      
Investment and other income (5.5) (2.4)  
Interest expense 9.0 14.4  
Imputed interest expense and contingent payment arrangements 10.3 4.4  
Total non-operating (income) and expenses 13.8 16.4  
Income before income taxes 89.9 91.6  
Income taxes 21.9 22.1  
Net income 68.0 69.5  
Net income (non-controlling interests) (32.1) (30.8)  
Net income (controlling interest) 35.9 38.7  
Balance Sheet Information      
Total assets 3,123.2   3,196.5
Mutual Fund [Member]
      
Statements of Income      
Revenue 291.9 227.6  
Operating expenses:      
Depreciation, intangible amortization and impairments 4.0 13.6  
Other operating expenses 181.4 145.3  
Total operating expenses 185.4 158.9  
Operating income 106.5 68.7  
Income from equity method investments 5.6 3.8  
Other non-operating (income) and expenses:      
Investment and other income (2.4) (1.9)  
Interest expense 6.9 7.6  
Imputed interest expense and contingent payment arrangements 10.3 9.2  
Total non-operating (income) and expenses 14.8 14.9  
Income before income taxes 97.3 57.6  
Income taxes 22.7 11.7  
Net income 74.6 45.9  
Net income (non-controlling interests) (40.5) (28.7)  
Net income (controlling interest) 34.1 17.2  
Balance Sheet Information      
Total assets 2,774.8   2,448.4
High Net Worth [Member]
      
Statements of Income      
Revenue 56.3 50.8  
Operating expenses:      
Depreciation, intangible amortization and impairments 3.9 3.2  
Other operating expenses 31.6 29.4  
Total operating expenses 35.5 32.6  
Operating income 20.8 18.2  
Income from equity method investments 3.6 2.4  
Other non-operating (income) and expenses:      
Investment and other income (0.3) (0.2)  
Interest expense 1.7 2.2  
Imputed interest expense and contingent payment arrangements 1.9 0.6  
Total non-operating (income) and expenses 3.3 2.6  
Income before income taxes 21.1 18.0  
Income taxes 4.3 3.7  
Net income 16.8 14.3  
Net income (non-controlling interests) (9.6) (7.8)  
Net income (controlling interest) 7.2 6.5  
Balance Sheet Information      
Total assets $ 722.9   $ 673.9