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Concentration Risk - Narrative (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Concentration Risk [Line Items]        
Voluntary yield-related fee waivers $ 0 $ 9,500,000 $ 0 $ 85,300,000
Decrease in distribution expenses   9,000,000   66,500,000
Net negative pre-tax impact   $ 500,000   $ 18,800,000
Product Concentration Risk | Revenue benchmark | Federated Hermes Government Obligations Fund        
Concentration Risk [Line Items]        
Concentration risk 13.00% 11.00% 14.00% 9.00%
Customer Concentration Risk | Revenue benchmark | Bank of New York Mellon Corporation        
Concentration Risk [Line Items]        
Concentration risk 11.00% 12.00% 11.00% 9.00%