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Warner Norcross + Judd LLP is a corporate law firm with over 230 attorneys serving clients in nine offices throughout Michigan. Among the largest law firms in Michigan, Warner works in virtually all areas of business law.

Michigan Law Firm - Warner Norcross + Judd LLP

Lift-outs — the recruitment of entire adviser teams from one firm to another — aren’t new, but they are becoming increasingly common as competition heats up in the M&amp;A space of registered investment adviser and wealth management firms.

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<a href="https://www.wnj.com/people/linda-paullin-hebden/" target="_blank" rel="noreferrer noopener">Linda Paullin-Hebden</a>, a Warner partner who co-chairs the firm’s Mergers and Acquisitions Practice Group, shared her thoughts on lift-outs in a conversation with M&amp;A Confidential, published by Hue Partners.

“The market is crowded with over half of RIAs say they’re open to buying,” Paullin-Hebden said. “That competition is driving lift-outs as firms go straight to like-minded producers and teams. If you prepare well, structure smart and design incentives that retain the bench, you don’t just land a team — you build a durable growth platform buyers actually pay for.”

Paullin-Hebden organized her insights around three areas for properly structuring a deal:

Before You Breakaway: Paperwork Wins Deals

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Structuring the Lift-Out: Choose Your Path (and Your Tax)

The Talent Equation: Make Next-Gen Believe (and Stay)

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“Lift-outs reward the prepared,” she said. “Do the legal homework, choose the right structure and align incentives. That’s how you turn a hot trend into a high-conviction outcome.”

To watch the video podcast, please click <a href="https://www.youtube.com/watch?v=QpAuUJ2egLc" target="_blank" rel="noreferrer noopener">here</a>.

To read the complete article, click <a href="https://huepartners.com/fall-2025-m-a-confidential/linda-paullin-hebden-lift-outs-are-hot-for-good-reason-here-s-the-legal-talent-playbook-rias-need-now" target="_blank" rel="noreferrer noopener">here</a>.

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Linda Paullin-Hebden: Lift-Outs Are Hot — for Good Reason

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Linda Paullin-Hebden: Lift-Outs Are Hot — for Good Reason

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