The key to an advisor's happiness is support, at least for the independent advisor. That is according to the new Financial Advisor Satisfaction study by J.D. Power and Associates, a marketing information company in Westlake Village, Calif. The study is based on responses from 3,124 financial advisors registered with the National Association of Securities Dealers (NASD)—both those employed by banks or wirehouses, and independent advisors.

According to the study, satisfaction among independent advisors, unlike their employee counterparts, is driven mostly by support through sales, training, resources, tech and compliance. Included in this is the reliability of processing transactions, timeliness of correcting errors and responsiveness to questions.

The satisfaction of advisors who are employees, on the other hand, is driven mostly by firm performance. This makes sense, as the performance of the firm can have a direct impact on these advisors' compensation.

"It's no surprise that the top two areas for independent advisors are related to support," says David Lo, director of financial services at J.D. Power. "They are more entrepreneurial and put their well-being and growth of their business first. They don't worry that their firm is in the news. They don't feel that pain."

Other key drivers of satisfaction for independent advisors are products and offerings, problem resolution and job duties. Advisors are happier when their B-D provides portfolio planning support, such as personal assistance, training and email newsletters. Software packages that promise to get the job done do not impress.

The study found that delivering the right message to prospective advisors is the most important aspect of recruiting. To make sure their message is clear, the study notes, recruiters need to present an overview of the firm's performance; assure advisors of the support the firm provides—particularly in terms of compliance, technology and administration; offer personalized portfolio planning assistance; and promote a quota-free sales environment.