Independent investment advisors say six in ten of their new clients came from traditional, commission-based brokers, up 22 per cent from a year ago, according to a survey released yesterday by online brokerage TD Ameritrade.

The study also found 68 per cent of the surveyed advisors saw an increase in clients within the last six months - a 13 per cent increase from the prior quarter.

The 500 registered investment advisors who were surveyed in April said they are also increasing compensation levels, and spending more on employee benefits, technology and marketing.