Fidelity Investments, the giant US mutual fund firm, has expanded its “transitions solutions” venture to help brokers who have gone independent.

Working with Fidelity consultants, brokers can access a new customizable tool to help them analyze the economics of three common independent models -- starting an independent registered investment advisor firm, partnering with a third-party or joining an independent broker/dealer, Fidelity said.

The Financial Advisor Economic Estimator tool allows wirehouse brokers, working with a Fidelity business consultant, to input specific information about their current practices, from annual production and current payouts to deferred compensation and office location. Specific values for more than 50 expense items across nine different categories, such as salary, legal fees, registration and insurance, are included in the analysis.

The Fidelity tool then produces a detailed and customized financial report that includes annual estimates over a 10-year period of the costs, taxes and payouts associated with three common independent business models compared to the wirehouse model.

RIA custodians and independent broker-dealers have been raising their spending to encourage brokers to take the independence route. The wirehouse business model has been shaken up by the mergers and restructurings at financial titans such as Morgan Stanley, Merrill Lynch and UBS.