-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 ahZhMoAZQwmjrJRg4QfbYQ==

<SEC-DOCUMENT>0001113432-10-000003.txt : 20100309
<SEC-HEADER>0001113432-10-000003.hdr.sgml : 20100309
<ACCEPTANCE-DATETIME>20100309161529
ACCESSION NUMBER:		0001113432-10-000003
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100305
FILED AS OF DATE:		20100309
DATE AS OF CHANGE:		20100309

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SUNDEEN JOHN E JR
		CENTRAL INDEX KEY:			0001113432

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13913
		FILM NUMBER:		10667315

	MAIL ADDRESS:	
		STREET 1:		6300 LAMAR AVENUE
		CITY:			OVERLAND PARK
		STATE:			KS
		ZIP:			66202

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WADDELL & REED FINANCIAL INC
		CENTRAL INDEX KEY:			0001052100
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				510261715
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		6300 LAMAR AVE
		CITY:			OVERLAND PARK
		STATE:			KS
		ZIP:			66202-4200
		BUSINESS PHONE:		9132362000

	MAIL ADDRESS:	
		STREET 1:		PO BOX 29217
		CITY:			SHAWNEE MISSION
		STATE:			KS
		ZIP:			66201-9217
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-03-05</periodOfReport>

    <issuer>
        <issuerCik>0001052100</issuerCik>
        <issuerName>WADDELL &amp; REED FINANCIAL INC</issuerName>
        <issuerTradingSymbol>WDR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001113432</rptOwnerCik>
            <rptOwnerName>SUNDEEN JOHN E JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6300 LAMAR AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>OVERLAND PARK</rptOwnerCity>
            <rptOwnerState>KS</rptOwnerState>
            <rptOwnerZipCode>66202</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SVP &amp; CAO - Investments</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common</value>
            </securityTitle>
            <transactionDate>
                <value>2010-03-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>18360</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>34.71</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>248134</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common</value>
            </securityTitle>
            <transactionDate>
                <value>2010-03-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>781</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>247353</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The price reported is a weighted average price.  These shares were sold in multiple transactions at pricing ranging from $34.70 to $34.74, inclusive.  The reporting person undertakes to provide to Waddell &amp; Reed Financial, Inc. (&quot;WDR&quot;), any stockholder of WDR or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in Footnote 1.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>John E. Sundeen, Jr.</signatureName>
        <signatureDate>2010-03-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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