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Segment Information - Schedule of Segment Information (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Segment
Channel
Jun. 30, 2013
Dec. 31, 2013
Segment Reporting [Abstract]          
Number of operating segments     3    
Number of principal distribution channels     3    
Statements of Income          
Revenue $ 636.3 $ 541.0 $ 1,229.4 $ 1,043.3  
Operating expenses:          
Depreciation, intangible amortization and impairments 32.2 35.9 63.4 72.4  
Other operating expenses 405.7 343.7 773.6 659.0  
Total operating expenses 437.9 379.6 837.0 731.4  
Operating income 198.4 161.4 392.4 311.9  
Income from equity method investments 56.3 36.2 102.5 86.9  
Other non-operating (income) and expenses:          
Investment and other income (8.4) (7.5) (16.6) (12.0)  
Interest expense 20.0 24.3 37.7 48.5  
Imputed interest expense and contingent payment arrangements 2.4 8.4 24.8 22.6  
Total non-operating (income) and expenses (14.0) (25.2) (45.9) (59.1)  
Income before income taxes 240.7 172.4 449.0 339.7  
Income taxes 61.7 38.2 110.6 75.7  
Net income 179.0 134.2 338.4 264.0  
Net income (non-controlling interests) (78.9) (69.5) (161.2) (136.9)  
Net income (controlling interest) 100.1 64.7 177.2 127.1  
Balance Sheet Information          
Total assets 6,730.2   6,730.2   6,318.8
Institutional
          
Statements of Income          
Revenue 265.2 241.7 510.1 465.4  
Operating expenses:          
Depreciation, intangible amortization and impairments 23.5 19.9 46.9 39.6  
Other operating expenses 165.0 148.8 319.9 289.4  
Total operating expenses 188.5 168.7 366.8 329.0  
Operating income 76.7 73.0 143.3 136.4  
Income from equity method investments 46.9 30.0 83.9 74.5  
Other non-operating (income) and expenses:          
Investment and other income (4.8) (3.4) (10.3) (5.9)  
Interest expense 10.7 13.4 19.7 27.8  
Imputed interest expense and contingent payment arrangements 0.2 2.6 10.5 6.9  
Total non-operating (income) and expenses (6.1) (12.6) (19.9) (28.8)  
Income before income taxes 117.5 90.4 207.3 182.1  
Income taxes 29.4 20.7 51.3 42.8  
Net income 88.1 69.7 156.0 139.3  
Net income (non-controlling interests) (38.6) (33.6) (70.7) (64.5)  
Net income (controlling interest) 49.5 36.1 85.3 74.8  
Balance Sheet Information          
Total assets 3,195.8   3,195.8   3,196.5
Mutual Fund
          
Statements of Income          
Revenue 310.0 245.8 601.9 473.7  
Operating expenses:          
Depreciation, intangible amortization and impairments 4.8 12.8 8.8 26.4  
Other operating expenses 207.5 163.3 388.9 308.6  
Total operating expenses 212.3 176.1 397.7 335.0  
Operating income 97.7 69.7 204.2 138.7  
Income from equity method investments 5.3 3.9 10.9 7.7  
Other non-operating (income) and expenses:          
Investment and other income (3.1) (3.6) (5.5) (5.4)  
Interest expense 7.4 8.5 14.3 16.1  
Imputed interest expense and contingent payment arrangements 2.0 5.0 12.2 14.3  
Total non-operating (income) and expenses (6.3) (9.9) (21.0) (25.0)  
Income before income taxes 96.7 63.7 194.1 121.4  
Income taxes 26.8 14.0 49.5 25.8  
Net income 69.9 49.7 144.6 95.6  
Net income (non-controlling interests) (28.8) (27.5) (69.3) (56.2)  
Net income (controlling interest) 41.1 22.2 75.3 39.4  
Balance Sheet Information          
Total assets 2,785.5   2,785.5   2,448.4
High Net Worth
          
Statements of Income          
Revenue 61.1 53.5 117.4 104.2  
Operating expenses:          
Depreciation, intangible amortization and impairments 3.9 3.2 7.7 6.4  
Other operating expenses 33.2 31.6 64.8 61.0  
Total operating expenses 37.1 34.8 72.5 67.4  
Operating income 24.0 18.7 44.9 36.8  
Income from equity method investments 4.1 2.3 7.7 4.7  
Other non-operating (income) and expenses:          
Investment and other income (0.5) (0.5) (0.8) (0.7)  
Interest expense 1.9 2.4 3.7 4.6  
Imputed interest expense and contingent payment arrangements 0.2 0.8 2.1 1.4  
Total non-operating (income) and expenses (1.6) (2.7) (5.0) (5.3)  
Income before income taxes 26.5 18.3 47.6 36.2  
Income taxes 5.5 3.5 9.8 7.1  
Net income 21.0 14.8 37.8 29.1  
Net income (non-controlling interests) (11.5) (8.4) (21.2) (16.2)  
Net income (controlling interest) 9.5 6.4 16.6 12.9  
Balance Sheet Information          
Total assets $ 748.9   $ 748.9   $ 673.9