If you're a branch manager in this day and age, recruiting is one of your biggest responsibilities. And to put it bluntly, if you're unable to consistently hire good advisors, it could cost you your job.

But a branch manager who's an effective recruiter will often survive the other challenges thrown at him daily. For many in this position, the pressure to recruit means that every Friday afternoon is a stress-filled, drama-packed mini soap opera. Are you gaining on this day--or losing?

Time after time I see branch managers make mistakes that greatly reduce their chances of closing deals with top advisors. Here are five of the most common ones to watch out for.

1. Putting down the prospective recruit's current firm. You are a Great Branch Manager (aka a GBM). The buzz at your firm is positive--and the buzz in your office is even better. You are justly proud of the benefits that a prospective recruit sees in working for you. Perhaps you've even recruited other brokers from your prospect's office.

Red alert!

At this juncture, it's easy to fall into the trap of negative selling. Don't do it. Putting down your prospect's firm will not get him any closer to joining you. On the contrary: It'll only make him defensive and resent you for it. Instead of beginning an open dialogue, you're starting an argument. You may win it--but you'll lose the recruit.

2. Overtalking and underlistening. I recently debriefed a big producer about what happened in an interview. "It went OK, I guess," he said. (This headhunter interpreted that as: "Not what I was hoping for.")

"Walk me through the meeting," I said.

"Well, he told me a lot about his background and all of the great things that were happening in his office. He also filled me in on some of the new products that his firm was putting out."

Awkward silence.

"What else?" I asked.

"There was nothing else. He talked about how wonderful he was. I listened politely and ate my lunch. He probably left hungry, since his mouth was busy doing all of the yapping."

Uh-oh.

The broker continued: "I never got a chance to fill him in on why I was there to meet [him] in the first place."

It's one of the most basic rules of sales. "You were born with two ears and one mouth, so listen and speak accordingly," the adage says. Yet inexperienced managers spend all of their time selling the sizzle of their situations without understanding why a recruit is even sitting down with them. Most deals happen because an advisor is looking to solve a problem, correct a perceived wrong or put some salve on a wounded ego. A good manager will try to learn about the advisor's practice, any past problems and the challenges he's facing in the future.

3. Failing to articulate your branch's story and culture. Here's the tale of another debriefing--and another disaster. It was the morning after a Big Wirehouse Producer (BWP) had gone on an interview. "How did it go?" I asked.

"I'm not sure," the BWP replied. "On one hand, he was very knowledgeable about his firm and the direction. But I did not get a strong sense of what the branch was like or what he is like as a manager."

One of the most common reasons for a BWP to begin the interview process and ultimately change firms is dissatisfaction with his branch manager. The big money out there today puts a tremendous burden on a hiring manager to ensure the prospect is a fit.

I often tell my clients and candidates that the package a recruit gets from a new firm is akin to buying into its business like a partner. If the broker fails at the new shop, it could cost the branch manager his job and certainly will affect his compensation.

Despite these high stakes, ineffective branch managers will often fail to tell BWPs how they can be allies and resources at their new firms. This includes relating what their branches' cultures and key players are like, as well as revealing how their commitment and selling skills have helped their reps do more business.

So as a branch manager, you have to make a decision. Are you a GBM who makes a difference in your advisors' businesses every day? Or are you just an empty suit filling space in the corner office?