Affiliated Managers (MGR) 10-Q 6 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 29, 2014
Document and Entity Information	'	'
Entity Registrant Name	'AFFILIATED MANAGERS GROUP, INC.	'
Entity Central Index Key	'0001004434	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	55,281,036
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Statement [Abstract]	'	'
Revenue	$593.10	$502.20
Operating expenses:	'	'
Compensation and related expenses	235.7	214.5
Selling, general and administrative	122.3	92.3
Intangible amortization and impairments	27.4	32.9
Depreciation and other amortization	3.8	3.5
Other operating expenses	9.9	8.5
Total operating expenses	399.1	351.7
Operating income	194	150.5
Income from equity method investments	46.2	50.6
Other non-operating (income) and expenses:	'	'
Investment and other income	-8.2	-4.5
Interest expense	17.6	24.2
Imputed interest expense and contingent payment arrangements	22.5	14.2
Total non-operating (income) and expenses	31.9	33.9
Income before income taxes	208.3	167.2
Income taxes	48.9	37.5
Net income	159.4	129.7
Net income (non-controlling interests)	-82.2	-67.3
Net income (controlling interest)	$77.20	$62.40
Average shares outstanding - basic (in shares)	53.7	52.7
Average shares outstanding-diluted (in shares)	55.2	54.2
Earnings per share-basic (in dollars per share)	$1.44	$1.18
Earnings per share-diluted (in dollars per share)	$1.40	$1.15

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Statement of Comprehensive Income [Abstract]	'	'
Net income	$159.40	$129.70
Other comprehensive income (loss):	'	'
Foreign currency translation adjustment	-8.8	-22.8
Change in net realized and unrealized gain on derivative securities, net of tax	0.2	0.2
Change in net unrealized gain (loss) on investment securities, net of tax	-13.8	1.1
Other comprehensive income (loss)	-22.4	-21.5
Comprehensive income	137	108.2
Comprehensive income (non-controlling interests)	-82.4	-66.9
Comprehensive income (controlling interest)	$54.60	$41.30

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Assets	'	'
Cash and cash equivalents	$747.10	$469.60
Receivables	486.3	418.4
Investments in marketable securities	136	157.9
Other investments	169.7	164.3
Fixed assets, net	93.1	92.3
Goodwill	2,385.90	2,341.70
Acquired client relationships, net	1,561.10	1,460.70
Equity method investments in Affiliates	963.1	1,123.30
Other assets	78.6	90.6
Total assets	6,620.90	6,318.80
Liabilities and Equity	'	'
Payables and accrued liabilities	509.5	514.7
Senior bank debt	400	525
Senior notes	736.6	340
Convertible securities	301.7	518.7
Deferred income taxes	399.4	456.9
Other liabilities	237.4	177
Total liabilities	2,584.60	2,532.30
Redeemable non-controlling interests	660.6	641.9
Equity:	'	'
Common stock	0.6	0.5
Additional paid-in capital	691.6	479.9
Accumulated other comprehensive income	51.4	74
Retained earnings	1,788.40	1,711.20
Total stockholders' equity before treasury stock	2,532	2,265.60
Less: treasury stock, at cost	-101.6	-131.4
Total stockholders' equity	2,430.40	2,134.20
Non-controlling interests	945.3	1,010.40
Total equity	3,375.70	3,144.60
Total liabilities and equity	$6,620.90	$6,318.80

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Treasury Stock at Cost [Member]	Non-controlling interests [Member]
In Millions, unless otherwise specified
Beginning Balance at Dec. 31, 2013	$3,144.60	$0.50	$479.90	$74	$1,711.20	($131.40)	$1,010.40
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'
Net income	159.4	'	'	'	77.2	'	82.2
Share-based compensation	6.5	'	6.5	'	'	'	'
Common stock issued under share-based incentive plans	-37.7	'	-67.5	'	'	29.8	'
Tax benefit from share-based incentive plans	33.1	'	33.1	'	'	'	'
Settlement of convertible securities	276.5	0.1	276.4	'	'	'	'
Forward equity	-9.4	'	-9.4	'	'	'	'
Investments in Affiliates	78.9	'	'	'	'	'	78.9
Affiliate equity activity	-34.8	'	-27.4	'	'	'	-7.4
Distributions to non-controlling interests	-219	'	'	'	'	'	-219
Other comprehensive income (loss)	-22.4	'	'	-22.6	'	'	0.2
Ending Balance at Mar. 31, 2014	$3,375.70	$0.60	$691.60	$51.40	$1,788.40	($101.60)	$945.30

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flow from operating activities:	'	'
Net income	$159.40	$129.70
Adjustments to reconcile Net income to net Cash flow from operating activities:	'	'
Intangible amortization and impairments	27.4	32.9
Depreciation and other amortization	3.8	3.5
Deferred income tax provision	15.1	12.7
Imputed interest expense and contingent payment arrangements	22.5	14.2
Income from equity method investments, net of amortization	-46.2	-50.6
Distributions received from equity method investments	208.2	93.9
Share-based and Affiliate equity compensation	14.1	14.1
Other non-cash items	8.8	4
Changes in assets and liabilities:	'	'
Increase in receivables	-66.5	-233.9
(Increase) decrease in other assets	1.9	-8.3
Increase (decrease) in payables, accrued liabilities and other liabilities	-50.8	190
Cash flow from operating activities	297.7	202.2
Cash flow used in investing activities:	'	'
Investments in Affiliates	-108.9	0
Purchase of fixed assets	-4.1	-4.6
Purchase of investment securities	-2.5	-2.6
Sale of investment securities	1.2	0.2
Cash flow from (used in) investing activities	-114.3	-7
Cash flow from (used in) financing activities:	'	'
Borrowings of senior debt	696.5	20
Repayments of senior debt and convertible securities	-425.6	-195
Issuance of common stock	6.8	29.2
Note and contingent payments	5.1	-37.8
Distributions to non-controlling interests	-219	-125.4
Affiliate equity issuances and repurchases	0.2	15.8
Other financing items	30.1	7.5
Cash flow from (used in) financing activities	94.1	-285.7
Effect of foreign exchange rate changes on cash and cash equivalents	0	-4.9
Net increase (decrease) in cash and cash equivalents	277.5	-95.4
Cash and cash equivalents at beginning of period	469.6	430.4
Cash and cash equivalents at end of period	747.1	335
Supplemental disclosure of non-cash financing activities:	'	'
Stock issued in settlement of 2006 junior convertible trust preferred securities	217.8	0
Stock issued under other incentive plans	-61.6	-1.1
Stock received in settlement of liability	44	0.4
Payables recorded for Affiliate equity purchases	$55.20	$12

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The consolidated financial statements of Affiliated Managers Group, Inc. ("AMG" or the "Company") have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair statement of the results have been included. All intercompany balances and transactions have been eliminated. Certain reclassifications have been made to the prior period's financial statements to conform to the current period's presentation. Operating results for interim periods are not necessarily indicative of the results that may be expected for any other period or for the full year. The Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 includes additional information about AMG, its operations, financial position and accounting policies, and should be read in conjunction with this Quarterly Report on Form 10-Q.
	All amounts in these notes, except per share data in the text and tables herein, are stated in millions unless otherwise indicated.

Recent_Accounting_Developments

Recent Accounting Developments	3 Months Ended
	Mar. 31, 2014
Recent Accounting Developments	'
Recent Accounting Developments	'
	Recent Accounting Developments
	In April 2014, the Financial Accounting Standards Board issued an update to the guidance for discontinued operations accounting and reporting. The new guidance amends the definition of discontinued operations and requires entities to provide additional disclosures about disposal transactions that do not meet the discontinued operations criteria. The new guidance is effective for interim and fiscal periods beginning after December 15, 2014. The Company is evaluating the impact of this guidance and does not expect it to have a significant impact on the Consolidated Financial Statements.

Investments_in_Marketable_Secu

Investments in Marketable Securities	3 Months Ended
	Mar. 31, 2014
Marketable Securities [Abstract]	'
Investments in Marketable Securities	'
	Investments in Marketable Securities
	Investments in marketable securities at December 31, 2013 and March 31, 2014 were $157.9 million and $136.0 million, respectively. The following is a summary of the cost, gross unrealized gains and losses and fair value of investments classified as available-for-sale and trading at December 31, 2013 and March 31, 2014:
		Available-for-Sale						Trading
		December 31,			March 31,			December 31,			March 31,
		2013			2014			2013			2014
	Cost	$	103.2		$	103.1		$	17.9		$	18.1
	Unrealized Gains	33.3			12			4.6			4.9
	Unrealized Losses	(1.1		)	(2.1		)	(0.0		)	(0.0		)
	Fair Value	$	135.4		$	113		$	22.5		$	23
	The Company had no significant realized gains and losses on investments for the periods presented.

Variable_Interest_Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2014
Variable Interest Entities	'
Variable Interest Entities	'
	Variable Interest Entities
	The Company's Affiliates act as the investment manager for certain investment funds that are considered variable interest entities ("VIEs"). Affiliates are entitled to receive management fees and may be eligible, under certain circumstances, to receive performance fees. The Affiliates' exposure to risk in these entities is generally limited to any equity investment and any uncollected management or performance fees, neither of which were material at December 31, 2013 and March 31, 2014. The Affiliates do not have any investment performance guarantees to these VIEs.
	The Affiliates are not the primary beneficiary of any of these VIEs as their involvement is limited to that of a service provider and their investment, if any, represents an insignificant interest in the fund's assets under management. Since the Affiliates' variable interests will not absorb the majority of the variability of the entity's net assets, these entities are not consolidated.
	The net assets and liabilities of these unconsolidated VIEs and the Company's maximum risk of loss related thereto are as follows:
		31-Dec-13				31-Mar-14
	Category of Investment	Unconsolidated		Carrying Value and		Unconsolidated		Carrying Value and
		VIE Net Assets		Maximum Exposure		VIE Net Assets		Maximum Exposure
				to Loss				to Loss
	Sponsored investment funds	$	8,112.70	$	1.7	$	8,619.20	$	1.7

Debt

Debt	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Debt	'
	Debt
	Senior Bank Debt
	The Company has a $1.25 billion senior unsecured revolving credit facility (the "credit facility") which matures in April 2018. As of March 31, 2014, the current outstanding balance under the credit facility was $400.0 million.
	On April 15, 2014, the Company entered into a $250.0 million five-year senior unsecured term loan. The Company pays interest at specified rates (based either on the LIBOR rate or the prime rate as in effect from time to time). Subject to certain conditions, the Company may borrow up to an additional $100.0 million.
	The credit facility and term loan contain financial covenants with respect to leverage and interest coverage, as well as customary affirmative and negative covenants, including limitations on priority indebtedness, liens, cash dividends, asset dispositions, and fundamental corporate changes, and certain customary events of default.
	Senior Notes
	On February 11, 2014, the Company sold $400.0 million aggregate principal amount of 4.25% senior notes due 2024 (the “2024 senior notes”). The unsecured 2024 senior notes pay interest semi-annually and may be redeemed at any time, in whole or in part, at a make-whole redemption price plus accrued and unpaid interest. In addition to customary event of default provisions, the underlying indenture limits the Company's ability to consolidate, merge or sell all or substantially all of its assets, and to create certain liens.
	Convertible Securities
	On February 13, 2014, the Company delivered a notice to redeem all of its outstanding 2006 junior convertible trust preferred securities. In lieu of redemption, substantially all holders of the 2006 junior convertible trust preferred securities elected to convert their securities into a defined number of shares. The Company issued 1.9 million shares of its common stock in connection with the conversion. As of March 31, 2014, all of the Company's 2006 junior convertible trust preferred securities have been canceled and retired. The Company recognized an expense of $18.8 million upon redemption, which is included in Imputed interest expense and contingent payment arrangements.

Forward_Equity

Forward Equity	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Forward Equity Sales	'
	Forward Equity
	Under the Company's 2012 forward equity agreement, it had outstanding contracts as of December 31, 2013 to sell a notional amount of $70.2 million at an average share price of $123.09. During the three months ended March 31, 2014, the Company agreed to net settle $15.1 million notional amount for cash at an average share price of $199.19. In April 2014, the Company agreed to net settle all remaining outstanding contracts for cash at an average share price of $198.58. The Company has $252.8 million remaining notional amount that it may elect to sell under the forward equity agreement.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	The Company has committed to co-invest in certain investment partnerships where it serves as the general partner. As of March 31, 2014, these unfunded commitments totaled approximately $73.1 million and may be called in future periods. In connection with a past acquisition agreement, the Company is contractually entitled to reimbursement from a prior owner for $27.4 million of these commitments if they are called.
	Under past acquisition agreements, the Company is contingently liable, upon achievement by Affiliates of specified financial targets, to make payments of up to $474.1 million through 2017, including payments of up to $151.0 million related to the Company's equity method investments. As of March 31, 2014, the Company expects to make payments of $75.0 million (none in 2014) to settle obligations related to consolidated Affiliates. The net present value of the expected payments for consolidated Affiliates totals $53.2 million as of March 31, 2014.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	The following table summarizes the Company's financial assets and liabilities that are measured at fair value on a recurring basis:
						Fair Value Measurements
		December 31,
		2013				Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
	Financial Assets
	Cash equivalents	$	39			$	39		$	—			$	—
	Investments in marketable securities(1)
	Trading securities	22.5				22.5			—				—
	Available-for-sale securities	135.4				135.4			—				—
	Other investments	164.3				14.1			18.4				131.8
	Financial Liabilities
	Contingent payment arrangements(2)	$	50.2			$	—		$	—			$	50.2
	Obligations to related parties(2)	76.9				—			—				76.9
	Interest rate swaps(3)	2.5				—			2.5				—
						Fair Value Measurements
		March 31,
		2014				Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
	Financial Assets
	Cash equivalents	$	37.7			$	37.7		$	—			$	—
	Investments in marketable securities(1)
	Trading securities	23				23			—				—
	Available-for-sale securities	113				113			—				—
	Other investments	169.7				14.6			19.2				135.9
	Financial Liabilities
	Contingent payment arrangements(2)	$	53.2			$	—		$	—			$	53.2
	Obligations to related parties(2)	131.9				—			—				131.9
	Interest rate swaps(3)	2.2				—			2.2				—
	___________________________________________________________
	-1	Principally investments in equity securities.
	-2	Amounts are presented within Other liabilities in the accompanying Consolidated Balance Sheets.
	-3	The fair value of the Company's interest rate swaps are presented within Other liabilities in the accompanying Consolidated Balance Sheets. As of December 31, 2013 and March 31, 2014, the Company had posted collateral with its counterparties of $3.6 million and $3.3 million, respectively. For the three months ended March 31, 2013 and 2014, gains on these interest rate swaps ($0.3 million and $0.3 million, respectively) have been reported in the Consolidated Statements of Comprehensive Income.
	The following is a description of the significant financial assets and liabilities measured at fair value and the fair value methodologies used.
	Cash equivalents consist primarily of highly liquid investments in daily redeeming money market funds which are classified as Level 1.
	Investments in marketable securities consist primarily of investments in publicly traded securities and in funds advised by Affiliates which are valued using net asset value ("NAV"). Publicly traded securities and investments in daily redeeming funds that calculate NAVs are classified as Level 1.
	Other investments consist primarily of funds advised by Affiliates and are valued using NAV. Investments in daily redeeming funds that calculate NAVs are classified as Level 1. Investments in funds that permit redemptions monthly or quarterly are classified as Level 2. Investments in funds that are subject to longer redemption restrictions are classified as Level 3. The fair value of Level 3 assets is determined using NAV one quarter in arrears (adjusted for current period calls and distributions).
	Contingent payment arrangements represent the present value of the expected future settlement of contingent payment arrangements related to the Company's investments in consolidated Affiliates. The significant unobservable inputs that are used in the fair value measurement of these obligations are growth and discount rates. Increases in the growth rate result in a higher obligation while an increase in the discount rate results in a lower obligation.
	Obligations to related parties include agreements to repurchase Affiliate equity and liabilities offsetting certain investments which are held by the Company but economically attributable to a related party. The significant unobservable inputs that are used in the fair value measurement of the agreements to repurchase Affiliate equity are growth and discount rates. Increases in the growth rate result in a higher obligation while an increase in the discount rate results in a lower obligation. The liability to a related party is measured based upon certain investments held by the Company, the fair value of which is determined using NAV one quarter in arrears.
	Interest rate swaps use model-derived valuations in which all significant inputs are observable in active markets to determine the fair value of these derivatives.
	It is the Company's policy to value financial assets or liabilities transferred as of the beginning of the period in which the transfer occurs. There were no significant transfers of financial assets or liabilities from Level 1 to Level 2 in the three months ended March 31, 2013 and March 31, 2014, respectively.
	Level 3 Financial Assets and Liabilities
	The following table presents the changes in Level 3 assets and liabilities for the three months ended March 31, 2013 and 2014:
		For the Three Months Ended March 31,
		2013												2014
		Other Investments				Contingent Payment Arrangements			Obligations to Related Parties					Other Investments				Contingent Payment Arrangements			Obligations to Related Parties
	Balance, beginning of period	$	118.9			$	31		$	77.8				$	131.8			$	50.2		$	76.9
	Net gains/losses	2			(1)	9.5		(2)	0.8			(3)		5.8			(1)	3		(2)	2.5			(3)
	Purchases and issuances	4.9				—			15.2					3.7				—			59.4
	Settlements and reductions	(3.9		)		—			(3.1		)			(5.4		)		—			(6.9		)
	Net transfers in and/or out of Level 3	—				—			—					—				—			—
	Balance, end of period	$	121.9			$	40.5		$	90.7				$	135.9			$	53.2		$	131.9
	Net unrealized gains/losses relating to instruments still held at the reporting date	$	2.5			$	9.5		$	(0.5	)			$	6.9			$	3		$	0.9
	___________________________________________________________
	-1	Gains and losses on Other investments are recorded in Investment and other income.
	-2	Accretion and changes to payment estimates under the Company's contingent payment arrangements are recorded in Imputed interest expense and contingent payment arrangements and foreign currency translation adjustments related to such arrangements are recorded as Other comprehensive income.
	-3	Gains and losses associated with agreements to repurchase Affiliate equity are recorded in Imputed interest expense and contingent payment arrangements. Gains and losses related to liabilities offsetting certain investments are recorded in Investment and other income.
	The following table presents certain quantitative information about the significant unobservable inputs used in valuing the Company's Level 3 financial liabilities:
		Quantitative Information about Level 3 Fair Value Measurements
		Valuation		Unobservable		Fair Value at			Range at		Fair Value at March 31, 2014				Range at March 31, 2014
		Techniques		Input		December 31,			31-Dec-13
						2013
	Contingent payment arrangements	Discounted cash flow		Growth rates		$	50.2		3% – 11%		$	53.2			3% – 9%
				Discount rates					14% – 18%						13% – 17%
Affiliate equity repurchase obligations	Discounted cash flow		Growth rates		4			8%		58.3				2% – 11%
			Discount rates					15%						14% – 17%
Investments in Certain Entities that Calculate Net Asset Value
The Company uses the NAV of certain investments as their fair value. The NAVs that have been provided by the investees have been derived from the fair values of the underlying investments as of the measurement dates. The following table summarizes, as of December 31, 2013 and March 31, 2014, the nature of these investments and any related liquidity restrictions or other factors which may impact the ultimate value realized:
	31-Dec-13							31-Mar-14
Category of Investment	Fair Value				Unfunded			Fair Value				Unfunded
					Commitments							Commitments
Private equity fund-of-funds(1)	$	131.8			$	62.9		$	135.9			$	73.1
Other funds(2)	82.3				—			84.8				—
	$	214.1			$	62.9		$	220.7			$	73.1
___________________________________________________________
-1	These funds primarily invest in a broad range of private equity funds, as well as making direct investments. Distributions will be received as the underlying assets are liquidated over the life of the funds.
-2	These are multi-disciplinary funds that invest across various asset classes and strategies, including long/short equity, credit and real estate. Investments are generally redeemable on a daily or quarterly basis.
There are no current plans to sell any of these investments.
Other Financial Assets and Liabilities Not Carried at Fair Value
The carrying amount of cash, cash equivalents, receivables, and payables and accrued liabilities approximates fair value because of the short-term nature of these instruments. The carrying value of notes receivable approximates fair value because interest rates and other terms are at market rates. The carrying value of senior bank debt approximates fair value because the debt has variable interest based on selected short-term rates. The following table summarizes the Company's other financial liabilities not carried at fair value:
	31-Dec-13							31-Mar-14
	Carrying Value				Fair Market Value			Carrying Value				Fair Market Value				Fair Value Hierarchy
Senior notes	$	340			$	325		$	736.6			$	747.7			Level 2
Convertible securities	518.7				963.9			301.7				556.3				Level 2

Business_Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2014
Business Combinations [Abstract]	'
Business Combinations	'
	Business Combinations
	On March 31, 2014, the Company completed its majority investment in SouthernSun Asset Management, LLC ("SouthernSun"). The Company's purchase price allocation for SouthernSun is provisional and was performed using a financial model that includes assumptions of expected market performance, net client cash flows and discount rates. These provisional amounts may be revised upon completion of the final valuation. The excess of the enterprise value over the net assets acquired was recorded as goodwill, of which 37%, 23% and 40% was attributed to the Company's Institutional, Mutual Fund and High Net Worth segments, respectively. The consideration paid (less net tangible assets acquired) will be deductible for U.S. tax purposes over a 15-year life.
	The provisional purchase price allocation for this investment is as follows:
		Total
	Consideration paid	$	109.9
	Non-controlling interests	78.9
	Enterprise value	$	188.8
	Acquired client relationships	$	126.9
	Tangible assets, net	6.2
	Goodwill	55.7
		$	188.8
	Pro forma financial results are set forth below assuming this investment occurred on January 1, 2013, the revenue sharing arrangement had been in effect for the entire period and after making certain pro forma adjustments.
		For the Three Months Ended March 31,
		2013		2014
	Revenue	$	507.9	$	604.2
	Net income (controlling interest)	62.5		78.7
	Earnings per share—basic	$	1.19	$	1.47
	Earnings per share—diluted	$	1.15	$	1.43
	The pro forma financial results are not necessarily indicative of the financial results had the investment been consummated at the beginning of the periods presented, nor are they necessarily indicative of the financial results expected in future periods. The pro forma financial results do not include the impact of transaction and integration related costs or benefits that may be expected to result from this investment.
	SouthernSun's contribution to the Company's revenue and earnings in the quarter ended March 31, 2014 was not significant.
	In March 2014, the Company announced that it will acquire a majority equity interest in River Road Asset Management, LLC ("River Road"), with the remaining equity being owned by River Road's management team, who will continue to direct its day-to-day operations. The Company anticipates this transaction will close in the second quarter of 2014.

Intangible_Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Intangible Assets	'
	Intangible Assets
	Consolidated Affiliates
	The following tables present the change in goodwill and components of acquired client relationships during the three months ended March 31, 2014:
			Goodwill
			Institutional				Mutual Fund				High Net Worth				Total
	Balance, as of December 31, 2013		$	1,076.30			$	928.1			$	337.3			$	2,341.70
	Goodwill acquired		20.4				12.9				22.4				55.7
	Foreign currency translation		(7.0		)		(0.1		)		(4.4		)		(11.5		)
	Balance, as of March 31, 2014		$	1,089.70			$	940.9			$	355.3			$	2,385.90
		Acquired Client Relationships
		Definite-lived												Indefinite-lived				Total
		Gross Book				Accumulated				Net Book				Net Book				Net Book
		Value				Amortization				Value				Value				Value
	Balance, as of December 31, 2013	$	1,039.50			$	(442.8	)		$	596.7			$	864			$	1,460.70
	New Investments	81.5				—				81.5				45.4				126.9
	Amortization and impairments	—				(27.4		)		(27.4		)		—				(27.4		)
	Foreign currency translation	(0.7		)		—				(0.7		)		1.6				0.9
	Balance, as of March 31, 2014	$	1,120.30			$	(470.2	)		$	650.1			$	911			$	1,561.10
	Definite-lived acquired client relationships are amortized over their expected useful lives. As of March 31, 2014, these relationships were being amortized over a weighted average life of approximately ten years. The Company recognized amortization expenses for these relationships of $32.9 million and $27.4 million for the three months ended March 31, 2013 and 2014, respectively. Based on relationships existing as of March 31, 2014, the Company estimates that its consolidated annual amortization expense will be approximately $100.0 million for each of the next five years.
	Equity Method Investments in Affiliates
	The intangible assets at the Company's equity method Affiliates consist of definite-lived acquired client relationships and goodwill. Definite-lived acquired client relationships are amortized over their expected useful lives. As of March 31, 2014, these relationships were being amortized over a weighted average life of approximately eleven years. The Company recognized amortization expense for these relationships of $10.4 million and $5.4 million for three months ended March 31, 2013 and 2014. Based on relationships existing as of March 31, 2014, the Company estimates the annual amortization expense for the next five years will be approximately $21.0 million in 2014, $12.0 million in 2015 and $10.0 million in each of 2016, 2017 and 2018. There were no significant changes to goodwill during the three months ended March 31, 2014.

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Share-Based Compensation	'
	Share-Based Compensation
	A summary of share-based compensation is as follows:
		For the Three Months Ended March 31,
		2013			2014
	Share-based compensation	$	5.8		$	6.5
	Tax benefit	2.2			2.5
	There was $79.3 million and $72.1 million of unrecognized share-based compensation as of December 31, 2013 and March 31, 2014, respectively, which will be recognized over a weighted-average period of approximately three years (assuming no forfeitures). As of March 31, 2014, 0.1 million options outstanding have expiration dates prior to the end of 2014.
	Stock Options
	The following table summarizes the transactions of the Company's stock options:
		Stock Options		Weighted Average			Weighted Average
				Exercise Price			Remaining
							Contractual Life
							(years)
	Unexercised options outstanding—December 31, 2013	3		$	77.71
	Options exercised	(0.1	)	71.38
	Options forfeited	(0.1	)	79.37
	Unexercised options outstanding—March 31, 2014	2.8		77.9			3.2
	Exercisable at March 31, 2014	2.3		73.8			3
	Restricted Stock
	The following table summarizes the transactions of the Company's restricted stock units:
		Restricted		Weighted
		Stock		Average
				Grant Date
				Value
	Unvested units—December 31, 2013	0.5		$	176.38
	Units vested	(0.1	)	121.94
	Units forfeited	0		94.83
	Unvested units—March 31, 2014	0.4		182.44

Affiliate_Equity

Affiliate Equity	3 Months Ended
	Mar. 31, 2014
Affiliate Equity	'
Affiliate Equity	'
	Affiliate Equity
	A summary of Affiliate equity compensation is as follows:
		For the Three Months Ended March 31,
		2013			2014
	Affiliate equity compensation	$	11.5		$	14.8
	Tax benefit	3.2			2.9
	Affiliate equity compensation attributable to the non-controlling interests was $3.2 million and $7.2 million in the three months ended March 31, 2013 and 2014, respectively. As of December 31, 2013 and March 31, 2014, the Company had $68.2 million and $78.0 million of unrecognized Affiliate equity compensation. Of this unrecognized compensation expense, $32.1 million and $42.0 million is attributable to the non-controlling interests, respectively. These expenses will be recognized over a weighted average period of approximately four years (assuming no forfeitures).
	The Company has a conditional right to call and holders of non-controlling interests have a conditional right to put their equity interests at certain intervals. The current redemption value of these interests has been presented as Redeemable non-controlling interests on the Consolidated Balance Sheets. Changes in the current redemption value are recorded to Additional paid-in capital. The following table presents the changes in Redeemable non-controlling interests during the period:
		For the Three Months Ended March 31, 2014
	Balance, beginning of period	$	641.9
	Transactions in Redeemable non-controlling interests	(29.8		)
	Changes in redemption value	48.5
	Balance, end of period	$	660.6
	During the three months ended March 31, 2013 and 2014, the Company acquired interests from, and transferred interests to, Affiliate management partners. The following schedule discloses the effect of changes in the Company's ownership interest in its Affiliates on the controlling interest's equity:
		For the Three Months Ended March 31,
		2013			2014
	Net income (controlling interest)	$	62.4		$	77.2
	Increase (decrease) in controlling interest paid-in capital from purchases and sales of Affiliate equity	(4.8		)	(16.3		)
	Change from Net income (controlling interest) and net transfers with non-controlling interests	$	57.6		$	60.9

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	The consolidated income tax provision includes taxes attributable to the controlling interest and, to a lesser extent, taxes attributable to non-controlling interests as follows:
		For the Three Months Ended March 31,
		2013			2014
	Controlling Interests:
	Current tax	$	21.2		$	30.3
	Intangible-related deferred taxes	12			16.9
	Other deferred taxes	0.9			(1.6		)
	Total controlling interests	34.1			45.6
	Non-controlling Interests:
	Current tax	$	3.6		$	3.5
	Deferred taxes	(0.2		)	(0.2		)
	Total non-controlling interests	3.4			3.3
	Provision for income taxes	$	37.5		$	48.9
	Income before income taxes (controlling interest)	$	96.5		$	122.8
	Effective tax rate attributable to controlling interests(1)	35.3		%	37.1		%
	___________________________________________________________
	-1	Taxes attributable to the controlling interest divided by Income before income taxes (controlling interest).
	For the three months ended March 31, 2014, deferred tax liabilities decreased by $57.5 million primarily as a result of the reclassification of $54.5 million of deferred tax liabilities to equity related to the settlement of the 2006 junior convertible trust preferred securities.
	As of March 31, 2014, the Company carried a liability for uncertain tax positions of $19.9 million, including $1.7 million for interest and related charges. At March 31, 2014 this liability also included $16.9 million for tax positions that, if recognized, would affect the Company's effective tax rate.
	The Company periodically has tax examinations in the U.S. and foreign jurisdictions. Examination outcomes, and any related settlements, are subject to significant uncertainty. The completion of examinations may result in the payment of additional taxes and/or the recognition of tax benefits.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Earnings Per Share
	The calculation of basic earnings per share is based on the weighted average number of shares of the Company's common stock outstanding during the period. Diluted earnings per share is similar to basic earnings per share, but adjusts for the dilutive effect of the potential issuance of incremental shares of the Company's common stock. The following is a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share available to common stockholders.
		For the Three Months Ended March 31,
		2013			2014
	Numerator
	Net income (controlling interest)	$	62.4		$	77.2
	Denominator
	Average shares outstanding—basic	52.7			53.7
	Effect of dilutive instruments:
	Stock options and restricted stock	1.3			1.3
	Forward equity	0.2			0.2
	Average shares outstanding—diluted	54.2			55.2
	The diluted earnings per share calculations in the table above exclude the anti-dilutive effect of the following shares:
		For the Three Months Ended March 31,
		2013		2014
	Stock options and restricted stock	0		0.3
	Senior convertible securities	3.6		—
	Junior convertible trust preferred securities	4.2		3.7

Comprehensive_Income

Comprehensive Income	3 Months Ended
	Mar. 31, 2014
Other Comprehensive Income (Loss), Net of Tax [Abstract]	'
Comprehensive Income	'
	Comprehensive Income
	The following table shows the tax effects allocated to each component of Other comprehensive income:
		For the Three Months Ended March 31,
		2013									2014
		Pre-Tax			Tax Benefit			Net of Tax			Pre-Tax			Tax Benefit			Net of Tax
					(Expense)									(Expense)
	Foreign currency translation adjustment	$	(22.8	)	$	—		$	(22.8	)	$	(8.8	)	$	—		$	(8.8	)
	Change in net realized and unrealized gain (loss) on derivative securities	0.3			(0.1		)	0.2			0.3			(0.1		)	0.2
	Change in net unrealized gain (loss) on investment securities	1			0.1			1.1			(22.2		)	8.4			(13.8		)
	Other comprehensive income (loss)	$	(21.5	)	$	0		$	(21.5	)	$	(30.7	)	$	8.3		$	(22.4	)
	The components of Accumulated other comprehensive income, net of taxes, are as follows:
		Foreign			Realized and			Unrealized			Total
		Currency			Unrealized Losses			Gain (Loss)
		Translation			on Derivative			on Investment
		Adjustment			Securities			Securities
	Balance, as of December 31, 2013	$	56.6		$	(1.9	)	$	19.5		$	74.2
	Other comprehensive income (loss) before reclassifications	(8.8		)	0.2			(13.9		)	(22.5		)
	Amounts reclassified from other comprehensive income	—			0			0.1			0.1
	Net other comprehensive income (loss)	(8.8		)	0.2			(13.8		)	(22.4		)
	Balance, as of March 31, 2014	$	47.8		$	(1.7	)	$	5.7		$	51.8

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Information	'
	Segment Information
	Management has assessed and determined that the Company operates in three business segments representing the Company's three principal distribution channels: Institutional, Mutual Fund and High Net Worth, each of which has different client relationships.
	Statements of Income
		For the Three Months Ended March 31, 2013
		Institutional			Mutual Fund			High Net Worth			Total
	Revenue	$	223.8		$	227.6		$	50.8		$	502.2
	Operating expenses:
	Depreciation, intangible amortization and impairments	19.6			13.6			3.2			36.4
	Other operating expenses	140.6			145.3			29.4			315.3
		160.2			158.9			32.6			351.7
	Operating income	63.6			68.7			18.2			150.5
	Income from equity method investments	44.4			3.8			2.4			50.6
	Other non-operating (income) and expenses:
	Investment and other income	(2.4		)	(1.9		)	(0.2		)	(4.5		)
	Interest expense	14.4			7.6			2.2			24.2
	Imputed interest expense and contingent payment arrangements	4.4			9.2			0.6			14.2
		16.4			14.9			2.6			33.9
	Income before income taxes	91.6			57.6			18			167.2
	Income taxes	22.1			11.7			3.7			37.5
	Net income	69.5			45.9			14.3			129.7
	Net income (non-controlling interests)	(30.8		)	(28.7		)	(7.8		)	(67.3		)
	Net income (controlling interest)	$	38.7		$	17.2		$	6.5		$	62.4
		For the Three Months Ended March 31, 2014
		Institutional			Mutual Fund			High Net Worth			Total
	Revenue	$	244.9		$	291.9		$	56.3		$	593.1
	Operating expenses:
	Depreciation, intangible amortization and impairments	23.3			4			3.9			31.2
	Other operating expenses	154.9			181.4			31.6			367.9
		178.2			185.4			35.5			399.1
	Operating income	66.7			106.5			20.8			194
	Income from equity method investments	37			5.6			3.6			46.2
	Other non-operating (income) and expenses:
	Investment and other income	(5.5		)	(2.4		)	(0.3		)	(8.2		)
	Interest expense	9			6.9			1.7			17.6
	Imputed interest expense and contingent payment arrangements	10.3			10.3			1.9			22.5
		13.8			14.8			3.3			31.9
	Income before income taxes	89.9			97.3			21.1			208.3
	Income taxes	21.9			22.7			4.3			48.9
	Net income	68			74.6			16.8			159.4
	Net income (non-controlling interests)	(32.1		)	(40.5		)	(9.6		)	(82.2		)
	Net income (controlling interest)	$	35.9		$	34.1		$	7.2		$	77.2
	Total assets as of December 31, 2013	$	3,196.50		$	2,448.40		$	673.9		$	6,318.80
	Total assets as of March 31, 2014	$	3,123.20		$	2,774.80		$	722.9		$	6,620.90

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	On April 1, 2014, the Company completed an equity investment in EIG Global Energy Partners, LLC ("EIG"). Following the close of the transaction, EIG's management team continues to hold a majority of the equity in the business and directs its day-to-day operations.
	On April 29, 2014, the Company announced that it will acquire a majority equity interest in Veritas Asset Management LLP ("Veritas"). Following the close of the transaction, Veritas' management team will continue to hold a substantial portion of the equity of the business and direct its day-to-day operations. The Company anticipates this transaction will close in the third quarter of 2014.

Investments_in_Marketable_Secu1

Investments in Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2014
Marketable Securities [Abstract]	'
Summary of the cost, gross unrealized gains and losses and fair value of investments classified as available-for-sale and trading	'
	The following is a summary of the cost, gross unrealized gains and losses and fair value of investments classified as available-for-sale and trading at December 31, 2013 and March 31, 2014:
		Available-for-Sale						Trading
		December 31,			March 31,			December 31,			March 31,
		2013			2014			2013			2014
	Cost	$	103.2		$	103.1		$	17.9		$	18.1
	Unrealized Gains	33.3			12			4.6			4.9
	Unrealized Losses	(1.1		)	(2.1		)	(0.0		)	(0.0		)
	Fair Value	$	135.4		$	113		$	22.5		$	23

Variable_Interest_Entities_Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2014
Variable Interest Entities	'
Schedule of net assets and liabilities and maximum risk of losses related to unconsolidated VIEs	'
	The net assets and liabilities of these unconsolidated VIEs and the Company's maximum risk of loss related thereto are as follows:
		31-Dec-13				31-Mar-14
	Category of Investment	Unconsolidated		Carrying Value and		Unconsolidated		Carrying Value and
		VIE Net Assets		Maximum Exposure		VIE Net Assets		Maximum Exposure
				to Loss				to Loss
	Sponsored investment funds	$	8,112.70	$	1.7	$	8,619.20	$	1.7

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Schedule of fair value of financial assets and financial liabilities measured on a recurring basis	'
	The following table summarizes the Company's financial assets and liabilities that are measured at fair value on a recurring basis:
						Fair Value Measurements
		December 31,
		2013				Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
	Financial Assets
	Cash equivalents	$	39			$	39		$	—			$	—
	Investments in marketable securities(1)
	Trading securities	22.5				22.5			—				—
	Available-for-sale securities	135.4				135.4			—				—
	Other investments	164.3				14.1			18.4				131.8
	Financial Liabilities
	Contingent payment arrangements(2)	$	50.2			$	—		$	—			$	50.2
	Obligations to related parties(2)	76.9				—			—				76.9
	Interest rate swaps(3)	2.5				—			2.5				—
						Fair Value Measurements
		March 31,
		2014				Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
	Financial Assets
	Cash equivalents	$	37.7			$	37.7		$	—			$	—
	Investments in marketable securities(1)
	Trading securities	23				23			—				—
	Available-for-sale securities	113				113			—				—
	Other investments	169.7				14.6			19.2				135.9
	Financial Liabilities
	Contingent payment arrangements(2)	$	53.2			$	—		$	—			$	53.2
	Obligations to related parties(2)	131.9				—			—				131.9
	Interest rate swaps(3)	2.2				—			2.2				—
	___________________________________________________________
	-1	Principally investments in equity securities.
	-2	Amounts are presented within Other liabilities in the accompanying Consolidated Balance Sheets.
	-3	The fair value of the Company's interest rate swaps are presented within Other liabilities in the accompanying Consolidated Balance Sheets. As of December 31, 2013 and March 31, 2014, the Company had posted collateral with its counterparties of $3.6 million and $3.3 million, respectively. For the three months ended March 31, 2013 and 2014, gains on these interest rate swaps ($0.3 million and $0.3 million, respectively) have been reported in the Consolidated Statements of Comprehensive Income.
Schedule of changes in Level 3 financial assets and financial liabilities	'
	The following table presents the changes in Level 3 assets and liabilities for the three months ended March 31, 2013 and 2014:
		For the Three Months Ended March 31,
		2013												2014
		Other Investments				Contingent Payment Arrangements			Obligations to Related Parties					Other Investments				Contingent Payment Arrangements			Obligations to Related Parties
	Balance, beginning of period	$	118.9			$	31		$	77.8				$	131.8			$	50.2		$	76.9
	Net gains/losses	2			(1)	9.5		(2)	0.8			(3)		5.8			(1)	3		(2)	2.5			(3)
	Purchases and issuances	4.9				—			15.2					3.7				—			59.4
	Settlements and reductions	(3.9		)		—			(3.1		)			(5.4		)		—			(6.9		)
	Net transfers in and/or out of Level 3	—				—			—					—				—			—
	Balance, end of period	$	121.9			$	40.5		$	90.7				$	135.9			$	53.2		$	131.9
	Net unrealized gains/losses relating to instruments still held at the reporting date	$	2.5			$	9.5		$	(0.5	)			$	6.9			$	3		$	0.9
	___________________________________________________________
	-1	Gains and losses on Other investments are recorded in Investment and other income.
	-2	Accretion and changes to payment estimates under the Company's contingent payment arrangements are recorded in Imputed interest expense and contingent payment arrangements and foreign currency translation adjustments related to such arrangements are recorded as Other comprehensive income.
	-3	Gains and losses associated with agreements to repurchase Affiliate equity are recorded in Imputed interest expense and contingent payment arrangements. Gains and losses related to liabilities offsetting certain investments are recorded in Investment and other income.
Schedule of presents certain quantitative information about the significant unobservable inputs used in valuing our Level 3 financial liabilities:	'
	The following table presents certain quantitative information about the significant unobservable inputs used in valuing the Company's Level 3 financial liabilities:
		Quantitative Information about Level 3 Fair Value Measurements
		Valuation		Unobservable		Fair Value at			Range at		Fair Value at March 31, 2014				Range at March 31, 2014
		Techniques		Input		December 31,			31-Dec-13
						2013
	Contingent payment arrangements	Discounted cash flow		Growth rates		$	50.2		3% – 11%		$	53.2			3% – 9%
				Discount rates					14% – 18%						13% – 17%
	Affiliate equity repurchase obligations	Discounted cash flow		Growth rates		4			8%		58.3				2% – 11%
				Discount rates					15%						14% – 17%
Schedule of investments	'
	The following table summarizes, as of December 31, 2013 and March 31, 2014, the nature of these investments and any related liquidity restrictions or other factors which may impact the ultimate value realized:
		31-Dec-13							31-Mar-14
	Category of Investment	Fair Value				Unfunded			Fair Value				Unfunded
						Commitments							Commitments
	Private equity fund-of-funds(1)	$	131.8			$	62.9		$	135.9			$	73.1
	Other funds(2)	82.3				—			84.8				—
		$	214.1			$	62.9		$	220.7			$	73.1
	___________________________________________________________
	-1	These funds primarily invest in a broad range of private equity funds, as well as making direct investments. Distributions will be received as the underlying assets are liquidated over the life of the funds.
	-2	These are multi-disciplinary funds that invest across various asset classes and strategies, including long/short equity, credit and real estate. Investments are generally redeemable on a daily or quarterly basis.
Summary of other financial liabilities not carried at fair value	'
	The following table summarizes the Company's other financial liabilities not carried at fair value:
		31-Dec-13							31-Mar-14
		Carrying Value				Fair Market Value			Carrying Value				Fair Market Value				Fair Value Hierarchy
	Senior notes	$	340			$	325		$	736.6			$	747.7			Level 2
	Convertible securities	518.7				963.9			301.7				556.3				Level 2

Business_Combinations_Tables

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2014
Business Combinations [Abstract]	'
Schedule of purchase price allocation for investments	'
	The provisional purchase price allocation for this investment is as follows:
		Total
	Consideration paid	$	109.9
	Non-controlling interests	78.9
	Enterprise value	$	188.8
	Acquired client relationships	$	126.9
	Tangible assets, net	6.2
	Goodwill	55.7
		$	188.8
Schedule of unaudited pro forma financial results	'
	Pro forma financial results are set forth below assuming this investment occurred on January 1, 2013, the revenue sharing arrangement had been in effect for the entire period and after making certain pro forma adjustments.
		For the Three Months Ended March 31,
		2013		2014
	Revenue	$	507.9	$	604.2
	Net income (controlling interest)	62.5		78.7
	Earnings per share—basic	$	1.19	$	1.47
	Earnings per share—diluted	$	1.15	$	1.43

Intangible_Assets_Intangible_A

Intangible Assets Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of changes in goodwill	'
	The following tables present the change in goodwill and components of acquired client relationships during the three months ended March 31, 2014:
			Goodwill
			Institutional				Mutual Fund				High Net Worth				Total
	Balance, as of December 31, 2013		$	1,076.30			$	928.1			$	337.3			$	2,341.70
	Goodwill acquired		20.4				12.9				22.4				55.7
	Foreign currency translation		(7.0		)		(0.1		)		(4.4		)		(11.5		)
	Balance, as of March 31, 2014		$	1,089.70			$	940.9			$	355.3			$	2,385.90
Schedule of changes in and the components of acquired client relationships	'
		Acquired Client Relationships
		Definite-lived												Indefinite-lived				Total
		Gross Book				Accumulated				Net Book				Net Book				Net Book
		Value				Amortization				Value				Value				Value
	Balance, as of December 31, 2013	$	1,039.50			$	(442.8	)		$	596.7			$	864			$	1,460.70
	New Investments	81.5				—				81.5				45.4				126.9
	Amortization and impairments	—				(27.4		)		(27.4		)		—				(27.4		)
	Foreign currency translation	(0.7		)		—				(0.7		)		1.6				0.9
	Balance, as of March 31, 2014	$	1,120.30			$	(470.2	)		$	650.1			$	911			$	1,561.10

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Summary of share-based compensation	'
	A summary of share-based compensation is as follows:
		For the Three Months Ended March 31,
		2013			2014
	Share-based compensation	$	5.8		$	6.5
	Tax benefit	2.2			2.5
Schedule of transactions of the Company's stock options	'
	The following table summarizes the transactions of the Company's stock options:
		Stock Options		Weighted Average			Weighted Average
				Exercise Price			Remaining
							Contractual Life
							(years)
	Unexercised options outstanding—December 31, 2013	3		$	77.71
	Options exercised	(0.1	)	71.38
	Options forfeited	(0.1	)	79.37
	Unexercised options outstanding—March 31, 2014	2.8		77.9			3.2
	Exercisable at March 31, 2014	2.3		73.8			3
Summary of transactions of the Company's restricted stock	'
	The following table summarizes the transactions of the Company's restricted stock units:
		Restricted		Weighted
		Stock		Average
				Grant Date
				Value
	Unvested units—December 31, 2013	0.5		$	176.38
	Units vested	(0.1	)	121.94
	Units forfeited	0		94.83
	Unvested units—March 31, 2014	0.4		182.44

Affiliate_Equity_Tables

Affiliate Equity (Tables)	3 Months Ended
	Mar. 31, 2014
Affiliate Equity	'
Summary of affiliate equity compensation	'
	A summary of Affiliate equity compensation is as follows:
		For the Three Months Ended March 31,
		2013			2014
	Affiliate equity compensation	$	11.5		$	14.8
	Tax benefit	3.2			2.9
Schedule of the changes in redeemable non-controlling interests	'
	The following table presents the changes in Redeemable non-controlling interests during the period:
		For the Three Months Ended March 31, 2014
	Balance, beginning of period	$	641.9
	Transactions in Redeemable non-controlling interests	(29.8		)
	Changes in redemption value	48.5
	Balance, end of period	$	660.6
Schedule of the effect of changes in the entity's ownership interest in its affiliates on the controlling interest's equity	'
	The following schedule discloses the effect of changes in the Company's ownership interest in its Affiliates on the controlling interest's equity:
		For the Three Months Ended March 31,
		2013			2014
	Net income (controlling interest)	$	62.4		$	77.2
	Increase (decrease) in controlling interest paid-in capital from purchases and sales of Affiliate equity	(4.8		)	(16.3		)
	Change from Net income (controlling interest) and net transfers with non-controlling interests	$	57.6		$	60.9

Income_Taxes_Tables

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Schedule of income tax provision attributable to controlling Interests and to non-controlling interests	'
	The consolidated income tax provision includes taxes attributable to the controlling interest and, to a lesser extent, taxes attributable to non-controlling interests as follows:
		For the Three Months Ended March 31,
		2013			2014
	Controlling Interests:
	Current tax	$	21.2		$	30.3
	Intangible-related deferred taxes	12			16.9
	Other deferred taxes	0.9			(1.6		)
	Total controlling interests	34.1			45.6
	Non-controlling Interests:
	Current tax	$	3.6		$	3.5
	Deferred taxes	(0.2		)	(0.2		)
	Total non-controlling interests	3.4			3.3
	Provision for income taxes	$	37.5		$	48.9
	Income before income taxes (controlling interest)	$	96.5		$	122.8
	Effective tax rate attributable to controlling interests(1)	35.3		%	37.1		%
	___________________________________________________________
	-1	Taxes attributable to the controlling interest divided by Income before income taxes (controlling interest).

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share	'
	The following is a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share available to common stockholders.
		For the Three Months Ended March 31,
		2013			2014
	Numerator
	Net income (controlling interest)	$	62.4		$	77.2
	Denominator
	Average shares outstanding—basic	52.7			53.7
	Effect of dilutive instruments:
	Stock options and restricted stock	1.3			1.3
	Forward equity	0.2			0.2
	Average shares outstanding—diluted	54.2			55.2
Diluted earnings per share calculations excluding the anti-dilutive effect of shares	'
	The diluted earnings per share calculations in the table above exclude the anti-dilutive effect of the following shares:
		For the Three Months Ended March 31,
		2013		2014
	Stock options and restricted stock	0		0.3
	Senior convertible securities	3.6		—
	Junior convertible trust preferred securities	4.2		3.7

Comprehensive_Income_Tables

Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2014
Other Comprehensive Income (Loss), Net of Tax [Abstract]	'
Summary of the tax effects allocated to each component of Other comprehensive income	'
	The following table shows the tax effects allocated to each component of Other comprehensive income:
		For the Three Months Ended March 31,
		2013									2014
		Pre-Tax			Tax Benefit			Net of Tax			Pre-Tax			Tax Benefit			Net of Tax
					(Expense)									(Expense)
	Foreign currency translation adjustment	$	(22.8	)	$	—		$	(22.8	)	$	(8.8	)	$	—		$	(8.8	)
	Change in net realized and unrealized gain (loss) on derivative securities	0.3			(0.1		)	0.2			0.3			(0.1		)	0.2
	Change in net unrealized gain (loss) on investment securities	1			0.1			1.1			(22.2		)	8.4			(13.8		)
	Other comprehensive income (loss)	$	(21.5	)	$	0		$	(21.5	)	$	(30.7	)	$	8.3		$	(22.4	)
Schedule of components of Accumulated other comprehensive income, net of taxes	'
	The components of Accumulated other comprehensive income, net of taxes, are as follows:
		Foreign			Realized and			Unrealized			Total
		Currency			Unrealized Losses			Gain (Loss)
		Translation			on Derivative			on Investment
		Adjustment			Securities			Securities
	Balance, as of December 31, 2013	$	56.6		$	(1.9	)	$	19.5		$	74.2
	Other comprehensive income (loss) before reclassifications	(8.8		)	0.2			(13.9		)	(22.5		)
	Amounts reclassified from other comprehensive income	—			0			0.1			0.1
	Net other comprehensive income (loss)	(8.8		)	0.2			(13.8		)	(22.4		)
	Balance, as of March 31, 2014	$	47.8		$	(1.7	)	$	5.7		$	51.8

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Schedule of segment information	'
	Statements of Income
		For the Three Months Ended March 31, 2013
		Institutional			Mutual Fund			High Net Worth			Total
	Revenue	$	223.8		$	227.6		$	50.8		$	502.2
	Operating expenses:
	Depreciation, intangible amortization and impairments	19.6			13.6			3.2			36.4
	Other operating expenses	140.6			145.3			29.4			315.3
		160.2			158.9			32.6			351.7
	Operating income	63.6			68.7			18.2			150.5
	Income from equity method investments	44.4			3.8			2.4			50.6
	Other non-operating (income) and expenses:
	Investment and other income	(2.4		)	(1.9		)	(0.2		)	(4.5		)
	Interest expense	14.4			7.6			2.2			24.2
	Imputed interest expense and contingent payment arrangements	4.4			9.2			0.6			14.2
		16.4			14.9			2.6			33.9
	Income before income taxes	91.6			57.6			18			167.2
	Income taxes	22.1			11.7			3.7			37.5
	Net income	69.5			45.9			14.3			129.7
	Net income (non-controlling interests)	(30.8		)	(28.7		)	(7.8		)	(67.3		)
	Net income (controlling interest)	$	38.7		$	17.2		$	6.5		$	62.4
		For the Three Months Ended March 31, 2014
		Institutional			Mutual Fund			High Net Worth			Total
	Revenue	$	244.9		$	291.9		$	56.3		$	593.1
	Operating expenses:
	Depreciation, intangible amortization and impairments	23.3			4			3.9			31.2
	Other operating expenses	154.9			181.4			31.6			367.9
		178.2			185.4			35.5			399.1
	Operating income	66.7			106.5			20.8			194
	Income from equity method investments	37			5.6			3.6			46.2
	Other non-operating (income) and expenses:
	Investment and other income	(5.5		)	(2.4		)	(0.3		)	(8.2		)
	Interest expense	9			6.9			1.7			17.6
	Imputed interest expense and contingent payment arrangements	10.3			10.3			1.9			22.5
		13.8			14.8			3.3			31.9
	Income before income taxes	89.9			97.3			21.1			208.3
	Income taxes	21.9			22.7			4.3			48.9
	Net income	68			74.6			16.8			159.4
	Net income (non-controlling interests)	(32.1		)	(40.5		)	(9.6		)	(82.2		)
	Net income (controlling interest)	$	35.9		$	34.1		$	7.2		$	77.2
	Total assets as of December 31, 2013	$	3,196.50		$	2,448.40		$	673.9		$	6,318.80
	Total assets as of March 31, 2014	$	3,123.20		$	2,774.80		$	722.9		$	6,620.90

Investments_in_Marketable_Secu2

Investments in Marketable Securities (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Marketable Securities [Abstract]	'	'
Investments in marketable securities	$136	$157.90

Investments_in_Marketable_Secu3

Investments in Marketable Securities (Details 2) (USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Available-for-Sale	'	'
Cost	$103.10	$103.20
Unrealized Gains	12	33.3
Unrealized Losses	-2.1	-1.1
Fair Value	113	135.4
Trading	'	'
Cost	18.1	17.9
Unrealized Gains	4.9	4.6
Unrealized Losses	0	0
Fair Value	$23	$22.50

Variable_Interest_Entities_Det

Variable Interest Entities (Details) (Sponsored investment funds [Member], USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Sponsored investment funds [Member]	'	'
Variable Interest Entities	'	'
Unconsolidated VIE Net Assets	$8,619.20	$8,112.70
Carrying Value and Maximum Exposure to Loss	$1.70	$1.70

Debt_Details

Debt (Details) (USD $)	0 Months Ended			0 Months Ended
Share data in Millions, unless otherwise specified	Feb. 13, 2014	Feb. 11, 2014	Mar. 31, 2014	Apr. 15, 2014
		Senior Notes [Member]	Senior Unsecured [Member]	Subsequent Event [Member]
		Senior Notes Due 2024 [Member]		Senior Unsecured Term Loan [Member]
Long-term debt	'	'	'	'
Maximum borrowing capacity	'	'	$1,250,000,000	$250,000,000
Term	'	'	'	'5 years
Additional borrowing capacity	'	'	'	100,000,000
Line of credit outstanding	'	'	400,000,000	'
Face amount	'	400,000,000	'	'
Interest rate	'	4.25%	'	'
Shares issued in connection with conversion	1.9	'	'	'
Expense recognized upon redemption	$18,800,000	'	'	'

Forward_Equity_Narrative_Detai

Forward Equity - Narrative (Details) (Forward equity sales [Member], USD $)	Mar. 31, 2014	Dec. 31, 2013	Apr. 30, 2014
In Millions, unless otherwise specified			Subsequent Event [Member]
Derivative [Line Items]	'	'	'
Notional amount	'	$70.20	$252.80
Average forward price	199.19	123.09	198.58
Notional amount settled	$15.10	'	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	3 Months Ended		12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2014
		Pantheon's prior owner [Member]	Scenario, Forecast [Member]
Commitments and Contingencies	'	'	'
Co-investment commitments in partnership	$73.10	'	'
Reimbursable amount of investment commitments	'	27.4	'
Acquisition agreements contingency liability	474.1	'	'
Expected payments related to equity method investments	151	'	'
Expected payments to settle contingent obligations	75	'	0
Net present value of expected payments to settle contingent obligations	$53.20	'	'

Fair_Value_Measurements_Summar

Fair Value Measurements - Summary of Assets and Liabilities at Fair Value (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013	Dec. 31, 2013
Financial Assets	'		'	'
Trading securities	$23		'	$22.50
Available-for-sale securities	113		'	135.4
Other investments	220.7		'	214.1
Financial Liabilities	'		'	'
Collateral posted	3.3		'	3.6
Gain on interest rate swap	0.3		0.3	'
Fair value measured on a recurring basis [Member] | Fair value [Member]	'		'	'
Financial Assets	'		'	'
Cash equivalents	37.7		'	39
Trading securities	23	[1]	'	22.5	[1]
Available-for-sale securities	113	[1]	'	135.4	[1]
Other investments	169.7		'	164.3
Financial Liabilities	'		'	'
Contingent payment arrangements	53.2	[2]	'	50.2	[2]
Obligations to related parties	131.9	[2]	'	76.9	[2]
Interest rate derivatives	2.2	[3]	'	2.5	[3]
Fair value measured on a recurring basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'		'	'
Financial Assets	'		'	'
Cash equivalents	37.7		'	39
Trading securities	23	[1]	'	22.5	[1]
Available-for-sale securities	113	[1]	'	135.4	[1]
Other investments	14.6		'	14.1
Financial Liabilities	'		'	'
Contingent payment arrangements	0	[2]	'	0	[2]
Obligations to related parties	0	[2]	'	0	[2]
Interest rate derivatives	0	[3]	'	0	[3]
Fair value measured on a recurring basis [Member] | Significant Other Observable Inputs (Level 2) [Member]	'		'	'
Financial Assets	'		'	'
Cash equivalents	0		'	0
Trading securities	0	[1]	'	0	[1]
Available-for-sale securities	0	[1]	'	0	[1]
Other investments	19.2		'	18.4
Financial Liabilities	'		'	'
Contingent payment arrangements	0	[2]	'	0	[2]
Obligations to related parties	0	[2]	'	0	[2]
Interest rate derivatives	2.2	[3]	'	2.5	[3]
Fair value measured on a recurring basis [Member] | Significant Other Unobservable Inputs (Level 3) [Member]	'		'	'
Financial Assets	'		'	'
Cash equivalents	0		'	0
Trading securities	0	[1]	'	0	[1]
Available-for-sale securities	0	[1]	'	0	[1]
Other investments	135.9		'	131.8
Financial Liabilities	'		'	'
Contingent payment arrangements	53.2	[2]	'	50.2	[2]
Obligations to related parties	131.9	[2]	'	76.9	[2]
Interest rate derivatives	$0	[3]	'	$0	[3]
[1]	Principally investments in equity securities.
[2]	Amounts are presented within Other liabilities in the accompanying Consolidated Balance Sheets.
[3]	The fair value of the Company's interest rate swaps are presented within Other liabilities in the accompanying Consolidated Balance Sheets. As of December 31, 2013 and MarchB 31, 2014, the Company had posted collateral with its counterparties of $3.6 million and $3.3 million, respectively. For the three months ended March 31, 2013 and 2014, gains on these interest rate swaps ($0.3 million and $0.3 million, respectively) have been reported in the Consolidated Statements of Comprehensive Income.

Fair_Value_Measurements_Change

Fair Value Measurements - Changes in level 3 Inputs (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Other Investments [Member]	'		'
Changes in level 3 assets and liabilities	'		'
Balance, beginning of period	$131.80		$118.90
Net gains/losses	5.8	[1]	2	[1]
Purchases and issuances	3.7		4.9
Settlements and reductions	-5.4		-3.9
Net transfers in and/or out of Level 3	0		0
Balance, end of period	135.9		121.9
Net unrealized gains/losses relating to instruments still held at the reporting date	6.9		2.5
Contingent Payment Arrangements [Member]	'		'
Changes in level 3 assets and liabilities	'		'
Balance, beginning of period	50.2		31
Net gains/losses	3	[2]	9.5	[2]
Purchases and issuances	0		0
Settlements and reductions	0		0
Net transfers in and/or out of Level 3	0		0
Balance, end of period	53.2		40.5
Net unrealized gains/losses relating to instruments still held at the reporting date	3		9.5
Obligations to Related Parties [Member]	'		'
Changes in level 3 assets and liabilities	'		'
Balance, beginning of period	76.9		77.8
Net gains/losses	2.5	[3]	0.8	[3]
Purchases and issuances	59.4		15.2
Settlements and reductions	-6.9		-3.1
Net transfers in and/or out of Level 3	0		0
Balance, end of period	131.9		90.7
Net unrealized gains/losses relating to instruments still held at the reporting date	$0.90		($0.50)
[1]	Gains and losses on Other investments are recorded in Investment and other income.
[2]	Accretion and changes to payment estimates under the Company's contingent payment arrangements are recorded in Imputed interest expense and contingent payment arrangements and foreign currency translation adjustments related to such arrangements are recorded as Other comprehensive income.
[3]	Gains and losses associated with agreements to repurchase Affiliate equity are recorded in Imputed interest expense and contingent payment arrangements. Gains and losses related to liabilities offsetting certain investments are recorded in Investment and other income.

Fair_Value_Measurements_Quanti

Fair Value Measurements - Quantitative Information (Details) (Discounted cash flow, USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014
In Millions, unless otherwise specified	Contingent payment arrangements [Member]	Contingent payment arrangements [Member]	Contingent payment arrangements [Member]	Contingent payment arrangements [Member]	Contingent payment arrangements [Member]	Contingent payment arrangements [Member]	Affiliate equity repurchase obligations [Member]	Affiliate equity repurchase obligations [Member]	Affiliate equity repurchase obligations [Member]	Affiliate equity repurchase obligations [Member]	Affiliate equity repurchase obligations [Member]
			Minimum	Minimum	Maximum	Maximum				Minimum	Maximum
Quantitative information for Level 3 Fair Value Measurements Liabilities	'	'	'	'	'	'	'	'	'	'	'
Fair value Liabilities	$53.20	$50.20	'	'	'	'	'	$58.30	$4	'	'
Growth rate (as a percent)	'	'	3.00%	3.00%	9.00%	11.00%	8.00%	'	'	2.00%	11.00%
Discount rate (as a percent)	'	'	13.00%	14.00%	17.00%	18.00%	15.00%	'	'	14.00%	17.00%

Fair_Value_Measurements_Nature

Fair Value Measurements - Nature of Investments and Related Liquidation Restrictions (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Millions, unless otherwise specified
NAV of investments at fair value	'		'
Fair Value	$220.70		$214.10
Unfunded Commitments	73.1		62.9
Private equity fund-of-funds [Member]	'		'
NAV of investments at fair value	'		'
Fair Value	135.9	[1]	131.8	[1]
Unfunded Commitments	73.1	[1]	62.9	[1]
Other funds [Member]	'		'
NAV of investments at fair value	'		'
Fair Value	84.8	[2]	82.3	[2]
Unfunded Commitments	$0	[2]	$0	[2]
[1]	These funds primarily invest in a broad range of private equity funds, as well as making direct investments. Distributions will be received as the underlying assets are liquidated over the life of the funds.
[2]	These are multi-disciplinary funds that invest across various asset classes and strategies, including long/short equity, credit and real estate. Investments are generally redeemable on a daily or quarterly basis.

Fair_Value_Measurements_Fair_V

Fair Value Measurements Fair Value Measurements - Summary of other financial liabilities not carried at fair value (Details) (Level 2 [Member], USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Senior notes	$747.70	$325
Convertible securities	556.3	963.9
Carrying Value [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Senior notes	736.6	340
Convertible securities	$301.70	$518.70

Business_Combinations_Narrativ

Business Combinations Narrative (Details) (Southern Sun Asset Management, LLC [Member])	0 Months Ended
	Mar. 31, 2014
Business Acquisition [Line Items]	'
Tax deduction period for goodwill and client relationships amortization expense	'15 years
Institutional [Member]	'
Business Acquisition [Line Items]	'
Goodwill percentage attributable to segments	37.00%
Mutual Fund [Member]	'
Business Acquisition [Line Items]	'
Goodwill percentage attributable to segments	23.00%
High Net Worth [Member]	'
Business Acquisition [Line Items]	'
Goodwill percentage attributable to segments	40.00%

Business_Combinations_Schedule

Business Combinations Schedule of purchase price allocation for investments (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
In Millions, unless otherwise specified			Southern Sun Asset Management, LLC [Member]
Business Acquisition [Line Items]	'	'	'
Consideration paid	'	'	$109.90
Non-controlling interests	'	'	78.9
Enterprise value	'	'	188.8
Acquired client relationships	'	'	126.9
Tangible assets, net	'	'	6.2
Goodwill	2,385.90	2,341.70	55.7
Total	'	'	$188.80

Business_Combinations_Schedule1

Business Combinations Schedule of unaudited pro forma financial results (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Business Combinations [Abstract]	'	'
Revenue	$604.20	$507.90
Net income (controlling interest)	$78.70	$62.50
Earnings per sharebbasic (in dollars per share)	$1.47	$1.19
Earnings per sharebdiluted (in dollars per share)	$1.43	$1.15

Intangible_Assets_Schedule_of_

Intangible Assets Schedule of changes in goodwill (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Goodwill [Roll Forward]	'
Beginning balance	$2,341.70
Goodwill acquired	55.7
Foreign currency translation	-11.5
Ending balance	2,385.90
Institutional [Member]	'
Goodwill [Roll Forward]	'
Beginning balance	1,076.30
Goodwill acquired	20.4
Foreign currency translation	-7
Ending balance	1,089.70
Mutual Fund [Member]	'
Goodwill [Roll Forward]	'
Beginning balance	928.1
Goodwill acquired	12.9
Foreign currency translation	-0.1
Ending balance	940.9
High Net Worth [Member]	'
Goodwill [Roll Forward]	'
Beginning balance	337.3
Goodwill acquired	22.4
Foreign currency translation	-4.4
Ending balance	$355.30

Intangible_Assets_Schedule_of_1

Intangible Assets Schedule of changes in and the components of acquired client relationships (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
In Millions, unless otherwise specified			Acquired client relationships [Member]
Definite-lived	'	'	'
Beginning balance, Gross Book Value	'	'	$1,039.50
Beginning balance, Accumulated Amortization	'	'	-442.8
Beginning balance, Net Book Value	'	'	596.7
New Investments, Gross Book Value	'	'	81.5
Amortization and impairments, Gross Book Value	'	'	-27.4
Foreign currency translation, Gross Book Value	'	'	-0.7
Ending balance, Gross Book Value	'	'	1,120.30
Ending balance, Accumulated Amortization	'	'	-470.2
Ending balance, Net Book Value	'	'	650.1
Indefinite-lived	'	'	'
Beginning balance, Net Book Value	'	'	864
New Investments, Net Book Value	'	'	45.4
Amortization and impairments, Net Book Value	'	'	0
Foreign currency translation, Net Book Value	'	'	1.6
Ending balance, Net Book Value	'	'	911
Total	'	'	'
Beginning balance, Net Book Value	1,561.10	1,460.70	1,460.70
New Investments, Net Book Value	'	'	126.9
Amortization and impairments, Net Book Value	'	'	-27.4
Foreign currency translation, Net Book Value	'	'	0.9
Ending balance, Net Book Value	$1,561.10	$1,460.70	$1,561.10

Intangible_Assets_Details

Intangible Assets (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Intangible Asset [Line Items]	'	'
Amortization and impairment expenses of intangible assets	$27.40	$32.90
Acquired client relationships [Member]	'	'
Intangible Asset [Line Items]	'	'
Weighted average life	'10 years	'
Amortization and impairment expenses of intangible assets	27.4	32.9
Annual amortization expense for each of the next five years	$100	'

Intangible_Assets_Details_2

Intangible Assets (Details 2) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Schedule of Equity Method Investments	'	'
Amortization expense during the period	$27.40	$32.90
Annual amortization expense attributable to current equity method Affiliates for next five years	'	'
2014	21	'
2015	12	'
2016	10	'
2017	10	'
2018	10	'
Acquired client relationships under equity method investments	'	'
Schedule of Equity Method Investments	'	'
Weighted average life	'11 years	'
Amortization expense during the period	$5.40	$10.40

ShareBased_Compensation_Summar

Share-Based Compensation Summary of share-based compensation (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'	'
Share-based compensation	$6.50	$5.80
Tax benefit	$2.50	$2.20

ShareBased_Compensation_Detail

Share-Based Compensation (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Recent share based compensation expense	'	'
Compensation expense related to share-based compensation	$72.10	$79.30
Weighted average period over which compensation expense will be recognized	'3 years	'
Option outstanding expected to expire in 2014	0.1	'
Stock Option and Incentive Plan [Member]	'	'
Summary of transactions of stock option and incentive plans:	'	'
Unexercised options outstanding at the beginning of the period (in shares)	3	'
Options exercised (in shares)	-0.1	'
Options forfeited (in shares)	-0.1	'
Unexercised options outstanding at the end of the period (in shares)	2.8	'
Exercisable at the end of the period (in shares)	2.3	'
Weighted Average Exercise Price	'	'
Unexercised options outstanding at the beginning of the period (in dollars per share)	$77.71	'
Options exercised (in dollars per share)	$71.38	'
Options forfeited (in dollars per share)	$79.37	'
Unexercised options outstanding at the end of the period (in dollars per share)	$77.90	'
Exercisable at the end of the period (in dollars per share)	$73.80	'
Weighted Average Remaining Contractual Life (years)	'	'
Unexercised options outstanding at the end of the period	'3 years 2 months 12 days	'
Exercisable at the end of the period	'3 years	'

ShareBased_Compensation_Detail1

Share-Based Compensation (Details 2) (Restricted stock [Member], USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014
Restricted stock [Member]	'
Restricted Stock	'
Unvested units at the beginning of the period (in shares)	0.5
Units vested (in shares)	-0.1
Units forfeited (in shares)	0
Unvested units at the end of the period (in shares)	0.4
Weighted Average Grant Date Value	'
Unvested units at the beginning of the period (in dollars per share)	$176.38
Units vested (in dollars per share)	$121.94
Units forfeited (in dollars per share)	$94.83
Unvested units at the end of the period (in dollars per share)	$182.44

Affiliate_Equity_Details

Affiliate Equity (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Affiliate Equity	'	'	'
Affiliate equity compensation	$14.80	$11.50	'
Tax benefit	2.9	3.2	'
Compensation expenses related to affiliate equity noncontrolling interests	7.2	3.2	'
Affiliate equity compensation cost not yet recognized	78	'	68.2
Affiliate equity compensation cost not yet recognized attributable to noncontrolling interest	42	'	32.1
Period for recognition	'4 years	'	'
Changes in redeemable non-controlling interests during the period	'	'	'
Balance at the beginning of the period	641.9	'	'
Transactions in Redeemable non-controlling interests	-29.8	'	'
Changes in redemption value	48.5	'	'
Balance at the end of the period	660.6	'	'
Effect of changes in the Company's ownership interest in its Affiliates on the controlling interest's equity	'	'	'
Net income (controlling interest)	77.2	62.4	'
Increase (decrease) in controlling interest paid-in capital from purchases and sales of Affiliate equity	-16.3	-4.8	'
Change from Net income (controlling interest) and net transfers with non-controlling interests	$60.90	$57.60	'

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Income tax provision	'		'
Deferred taxes	$15.10		$12.70
Provision for income taxes	48.9		37.5
Controlling Interests [Member]	'		'
Income tax provision	'		'
Current tax	30.3		21.2
Intangible-related deferred taxes	16.9		12
Other deferred taxes	-1.6		0.9
Provision for income taxes	45.6		34.1
Income before income taxes (controlling interest)	122.8		96.5
Effective tax rate attributable to controlling interests (as a percent)	37.10%	[1]	35.30%	[1]
Non-controlling interests [Member]	'		'
Income tax provision	'		'
Current tax	3.5		3.6
Deferred taxes	-0.2		-0.2
Provision for income taxes	$3.30		$3.40
[1]	Taxes attributable to the controlling interest divided by Income before income taxes (controlling interest).

Income_Taxes_Details_2

Income Taxes (Details 2) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Decrease in deferred tax liability	$57.50
Reclassification of Deferred Tax Liability	54.5
Liability for uncertain tax positions including interest and related charges	19.9
Accrued income tax interest and related charges	1.7
Unrecognized tax benefits that, if recognized, would affect effective tax rate	$16.90

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Numerator	'	'
Net income (controlling interest)	$77.20	$62.40
Denominator	'	'
Average shares outstanding - basic (in shares)	53.7	52.7
Effect of dilutive instruments:	'	'
Stock options and restricted stock (in shares)	1.3	1.3
Forward equity (in shares)	0.2	0.2
Average shares outstandingbdiluted (in shares)	55.2	54.2
Stock options and restricted stock [Member]	'	'
Anti-dilutive securities	'	'
Anti-dilutive securities excluded from computation of diluted earnings per share (in shares)	0.3	0
Senior convertible securities [Member]	'	'
Anti-dilutive securities	'	'
Anti-dilutive securities excluded from computation of diluted earnings per share (in shares)	0	3.6
Junior convertible trust preferred securities [Member]	'	'
Anti-dilutive securities	'	'
Anti-dilutive securities excluded from computation of diluted earnings per share (in shares)	3.7	4.2

Comprehensive_Income_Details

Comprehensive Income (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Other Comprehensive Income (Loss), Pre-Tax	'	'
Foreign currency translation adjustment, Pre-Tax	($8.80)	($22.80)
Change in net realized and unrealized gain (loss) on derivative securities, Pre-Tax	0.3	0.3
Change in net unrealized gain on investment securities, Pre-Tax	-22.2	1
Other comprehensive income (loss), Pre-Tax	-30.7	-21.5
Other Comprehensive Income (Loss), Tax Benefit (Expense)	'	'
Foreign currency translation adjustment, Tax Benefit (Expense)	0	0
Change in net realized and unrealized gain (loss) on derivative securities, Tax Benefit (Expense)	-0.1	-0.1
Change in net unrealized gain on investment securities, Tax Benefit (Expense)	8.4	0.1
Other comprehensive income (loss), Tax Benefit (Expense)	8.3	0
Other Comprehensive Income (Loss), Net of Tax	'	'
Foreign currency translation adjustment, Net of Tax	-8.8	-22.8
Change in net realized and unrealized gain on derivative securities, net of tax	0.2	0.2
Change in net unrealized gain (loss) on investment securities, net of tax	-13.8	1.1
Other comprehensive income (loss)	($22.40)	($21.50)

Comprehensive_Income_Details_2

Comprehensive Income (Details 2) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Total [Member]	'
Components of Accumulated other comprehensive income, net of taxes	'
Balance at the beginning of the period	$74.20
Other comprehensive income (loss) before reclassifications	-22.5
Amounts reclassified from other comprehensive income	0.1
Net other comprehensive income (loss)	-22.4
Balance at the end of the period	51.8
Foreign Currency Translation Adjustment [Member]	'
Components of Accumulated other comprehensive income, net of taxes	'
Balance at the beginning of the period	56.6
Other comprehensive income (loss) before reclassifications	-8.8
Amounts reclassified from other comprehensive income	0
Net other comprehensive income (loss)	-8.8
Balance at the end of the period	47.8
Realized and Unrealized Losses on Derivative Securities [Member]	'
Components of Accumulated other comprehensive income, net of taxes	'
Balance at the beginning of the period	-1.9
Other comprehensive income (loss) before reclassifications	0.2
Amounts reclassified from other comprehensive income	0
Net other comprehensive income (loss)	0.2
Balance at the end of the period	-1.7
Unrealized Gain (Loss) on Investment Securities [Member]	'
Components of Accumulated other comprehensive income, net of taxes	'
Balance at the beginning of the period	19.5
Other comprehensive income (loss) before reclassifications	-13.9
Amounts reclassified from other comprehensive income	0.1
Net other comprehensive income (loss)	-13.8
Balance at the end of the period	$5.70

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	Channel
	Segment
Segment Reporting [Abstract]	'	'	'
Number of operating segments	3	'	'
Number of principal distribution channels	3	'	'
Statements of Income	'	'	'
Revenue	$593.10	$502.20	'
Operating expenses:	'	'	'
Depreciation, intangible amortization and impairments	31.2	36.4	'
Other operating expenses	367.9	315.3	'
Total operating expenses	399.1	351.7	'
Operating income	194	150.5	'
Income from equity method investments	46.2	50.6	'
Other non-operating (income) and expenses:	'	'	'
Investment and other income	-8.2	-4.5	'
Interest expense	17.6	24.2	'
Imputed interest expense and contingent payment arrangements	22.5	14.2	'
Total non-operating (income) and expenses	31.9	33.9	'
Income before income taxes	208.3	167.2	'
Income taxes	48.9	37.5	'
Net income	159.4	129.7	'
Net income (non-controlling interests)	-82.2	-67.3	'
Net income (controlling interest)	77.2	62.4	'
Balance Sheet Information	'	'	'
Total assets	6,620.90	'	6,318.80
Institutional [Member]	'	'	'
Statements of Income	'	'	'
Revenue	244.9	223.8	'
Operating expenses:	'	'	'
Depreciation, intangible amortization and impairments	23.3	19.6	'
Other operating expenses	154.9	140.6	'
Total operating expenses	178.2	160.2	'
Operating income	66.7	63.6	'
Income from equity method investments	37	44.4	'
Other non-operating (income) and expenses:	'	'	'
Investment and other income	-5.5	-2.4	'
Interest expense	9	14.4	'
Imputed interest expense and contingent payment arrangements	10.3	4.4	'
Total non-operating (income) and expenses	13.8	16.4	'
Income before income taxes	89.9	91.6	'
Income taxes	21.9	22.1	'
Net income	68	69.5	'
Net income (non-controlling interests)	-32.1	-30.8	'
Net income (controlling interest)	35.9	38.7	'
Balance Sheet Information	'	'	'
Total assets	3,123.20	'	3,196.50
Mutual Fund [Member]	'	'	'
Statements of Income	'	'	'
Revenue	291.9	227.6	'
Operating expenses:	'	'	'
Depreciation, intangible amortization and impairments	4	13.6	'
Other operating expenses	181.4	145.3	'
Total operating expenses	185.4	158.9	'
Operating income	106.5	68.7	'
Income from equity method investments	5.6	3.8	'
Other non-operating (income) and expenses:	'	'	'
Investment and other income	-2.4	-1.9	'
Interest expense	6.9	7.6	'
Imputed interest expense and contingent payment arrangements	10.3	9.2	'
Total non-operating (income) and expenses	14.8	14.9	'
Income before income taxes	97.3	57.6	'
Income taxes	22.7	11.7	'
Net income	74.6	45.9	'
Net income (non-controlling interests)	-40.5	-28.7	'
Net income (controlling interest)	34.1	17.2	'
Balance Sheet Information	'	'	'
Total assets	2,774.80	'	2,448.40
High Net Worth [Member]	'	'	'
Statements of Income	'	'	'
Revenue	56.3	50.8	'
Operating expenses:	'	'	'
Depreciation, intangible amortization and impairments	3.9	3.2	'
Other operating expenses	31.6	29.4	'
Total operating expenses	35.5	32.6	'
Operating income	20.8	18.2	'
Income from equity method investments	3.6	2.4	'
Other non-operating (income) and expenses:	'	'	'
Investment and other income	-0.3	-0.2	'
Interest expense	1.7	2.2	'
Imputed interest expense and contingent payment arrangements	1.9	0.6	'
Total non-operating (income) and expenses	3.3	2.6	'
Income before income taxes	21.1	18	'
Income taxes	4.3	3.7	'
Net income	16.8	14.3	'
Net income (non-controlling interests)	-9.6	-7.8	'
Net income (controlling interest)	7.2	6.5	'
Balance Sheet Information	'	'	'
Total assets	$722.90	'	$673.90