Despite fears they might lose clients when going independent, 79 percent of advisors who switched to the indie model in the last two years say the majority of clients stuck by their side.

Forty advisors interviewed by Koski Research for Schwab Advisor Services in February and March said that client retention was one of their top three concerns when they moved to the independent model. Yet these advisors in their "sophomore" year who custody with Schwab said that not only did their clients agree to make the transition with them, but 60 percent were immediately on board when told about the change.

"As one of the fastest growing segments of the financial services industry, it is clear that the appetite for independent advice is expanding as more and more advisors turn to the RIA space," said Jon Beatty (right), senior vice president of sales and relationship management with Schwab Advisor Services, in a statement. "With industry growth comes more choice for advisors as they seek out a path to independence."