| Cover | Oct. 27, 2020 |
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Oct. 27, 2020 |
| Entity File Number | 001-13913 |
| Entity Registrant Name | WADDELL & REED FINANCIAL, INC. |
| Entity Central Index Key | 0001052100 |
| Entity Tax Identification Number | 51-0261715 |
| Entity Incorporation, State or Country Code | DE |
| Entity Address, Address Line One | 6300 Lamar Avenue |
| Entity Address, City or Town | Overland Park |
| Entity Address, State or Province | KS |
| Entity Address, Postal Zip Code | 66202 |
| City Area Code | 913 |
| Local Phone Number | 236-2000 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Class A Common Stock, $.01 par value |
| Trading Symbol | WDR |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |
