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Allowance for Doubtful Accounts
 9 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Allowance for Doubtful Accounts Allowance for Doubtful Accounts
The allowance for doubtful accounts related to deposits with and receivables from broker-dealers, clearing organizations, and counterparties was $0.1 million as of June 30, 2025 and $0.0 million as of September 30, 2024. The allowance for doubtful accounts related to receivables from clients was $54.0 million and $51.9 million as of June 30, 2025 and September 30, 2024, respectively.
Activity in the allowance for doubtful accounts for the nine months ended June 30, 2025 was as follows:
(in millions)
Balance as of September 30, 2024$51.9 
Provision for bad debts(1)
2.0 
Other0.2 
Balance as of June 30, 2025$54.1 
(1) An additional $0.3 million is included in bad debt expense for the nine months ended June 30, 2025 on the Condensed Consolidated Income Statements, which is not included in the allowance.