The Financial Planning Association and McLagan Partners said yesterday they will make the FPA Practice Management Scorecard available to independent financial advisors for free through an offer from Fidelity Investments.

   The FPA and McLagan, a financial services industry consulting firm, launched the scorecard to enable advisors to compare their practices with others in their particular region. The scorecard is sponsored by Fidelity, which will waive the regular $195 fee for advisors who agree to share their practice data with the company.

   Fidelity says it will only use the results internally. FPA members who don't want to share their data with Fidelity will pay the regular price.

   Among other things, the scorecard tracks practice revenues, assets, number of clients, average client size, profitability, compensation, staffing and expenses. It also provides participants with their rank in their market on each performance measure.

   Data submissions for the scorecard will be accepted through June 6, with 2008 results slated for an August release.