In an effort to boost their recruitment of breakaway advisors, Fidelity Investments announced a new web-based tool that helps advisors who are considering leaving the wirehouses decide which independent model is financially best for them.

Using the Financial Advisor Economic Estimator tool, brokers can compare the wirehouse model to three common independent business models: starting an independent registered investment advisory firm; partnering with a third party (joining or acquiring a firm); or affiliating with an independent broker-dealer.

Independent custodians, clearing firms and broker-dealers have all upped their game in their recruitment of breakaway advisors over the past 18 months, introducing fee waivers, price cuts and other inducements.

But, the wirehouses haven’t taken the change lying down. Morgan Stanley and Merrill Lynch have announced signing bonuses that may exceed 300% of brokers’ annual production, and others are expected to follow suit.

In September, T.D. Ameritrade, a fellow custodian in the independent space, launched a similar tool to the Fidelity’s Economic Estimator called the Business Evaluator. It also allows brokers looking to go independent to compare business models and estimate expenses. Both programs measure financial and non-financial metrics, identifying brokers’ preferences, strengths and weaknesses.