SANTA MONICA, Calif. -- Finding the right firm to acquire is hard enough, but attracting top talent is becoming increasingly problematic for growth-minded registered investment advisors.

The advisory industry is losing about 3,000 to 4,000 financial advisors annually who aren’t being replaced, Mark Tibergien, chief executive of Pershing Advisor Solutions, said on Thursday during a keynote discussion at the Deals and Deal Makers Summit here.

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