Financial advisors who adopt an independent business model are better off financially than those who don't, according to a new Fidelity study.

The "Fidelity Insights on Independence Study" found that more than three-quarters (76 percent) were better off and 64 percent indicated they were better off within six months of their move.

The study is one of the first to explore the transition process itself: researching options, making the move and experiencing independence, as well as its short- and long-term impact on advisors. It surveyed 173 advisors who chose an independent business model, such as an independent broker-dealer or registered investment advisor, within the last five years.

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