Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Total Revenues	$ 240,034	$ 270,154	$ 503,767	$ 529,564
Operating expenses:
Distribution	107,876	116,477	227,909	226,271
Compensation and benefits (including share-based compensation of $12,532, $11,199, $22,515 and $23,892, respectively)	61,863	61,876	120,288	126,719
General and administrative	20,524	16,037	39,122	30,741
Technology	14,237	16,442	27,739	32,750
Occupancy	4,291	6,701	9,000	13,416
Marketing and advertising	1,119	2,399	3,015	4,363
Depreciation	3,209	5,228	6,722	11,229
Subadvisory fees	3,288	3,715	6,954	7,272
Total	216,407	228,875	440,749	452,761
Operating income	23,627	41,279	63,018	76,803
Investment and other income	15,148	9,025	7,403	18,478
Interest expense	(1,539)	(1,552)	(3,088)	(3,100)
Income before provision for income taxes	37,236	48,752	67,333	92,181
Provision for income taxes	9,412	14,190	19,045	24,861
Net income	27,824	34,562	48,288	67,320
Net income attributable to redeemable noncontrolling interests	3,000	614	1,478	1,318
Net income attributable to Waddell & Reed Financial, Inc.	$ 24,824	$ 33,948	$ 46,810	$ 66,002
Net income per share attributable to Waddell and Reed Financial, Inc. common shareholders, basic and diluted:	$ 0.38	$ 0.45	$ 0.70	$ 0.87
Weighted average shares outstanding, basic and diluted:	65,488	74,694	66,581	75,492
Investment management fees
Revenues:
Total Revenues	$ 95,824	$ 112,870	$ 201,043	$ 222,632
Underwriting and distribution fees
Revenues:
Total Revenues	123,633	133,495	260,576	259,740
Shareholder service fees
Revenues:
Total Revenues	$ 20,577	$ 23,789	$ 42,148	$ 47,192