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“Recruiting a wirehouse advisor can be well worth the effort for growth-minded RIA firms — but it’s not easy, it takes time and you should expect a lot of false starts.”

That’s the message from Neal Simon, founder and chief executive of Highline Wealth Management, whose firm was the subject of a new case study for think tank and study group aRIA.[pullquote]Growth-minded RIAs need to ask themselves if they are prepared to seriously pursue top talent[/pullquote]

As top wirehouse financial advisors increasingly migrate to independent firms, Simon says growth-minded RIAs need to ask themselves if they are prepared to seriously pursue top talent and make the case that their firm is the right destination for those advisors, and if so, then the Simon study points to five steps the firm must follow.

OnWallStreet.mag reporter Charles Paikert discusses the five point study in his March 31 article.