The delicate dance between advisor and manager during the recruiting process can break down at any time. You may think that if the numbers and business mix make sense, it becomes a no-brainer. However, things such as attitude, honesty and follow-up can ultimately play a larger role than numbers.

Starting the process on the right note is essential. One of my recruiters, Jane, touched based with a $2 million-plus financial advisor we'll call "Mike" about a month ago. Mike has an ego that matches his book-and then some. During conversations, Jane informed Mike that he would have to meet initially with the brokerage firm's market manager and could not go directly to the branch manager in the area. Mike wasn't happy about that and his list of complaints only grew during the process of setting up that initial meeting. He eventually canceled the meeting, citing illness. This happened two more times. The manager was already pretty wary of Mike, having dealt with him and his large ego a few years prior. At that point, Jane agreed that Mike simply wasn't the right fit for the firm. This was bad news for Mike. As long as that manager is in that position, he will remember Mike's antics.

It's important to be respectful of other people's time during this initial phase. The recruiting rule-of-thumb says that whoever cancels the meeting has to be a bit more flexible on time and place the next time.

And it works both ways. Just this morning Jane received an email from a disenchanted recruit. The recruit was scheduled to have an international conference call with our client that had been scheduled three weeks in advance. When the time came for the call, the branch manager got on the phone and said he would have to reschedule. Emergencies are bound to pop up from time to time, but the branch manager's assistant should have canceled the call before the appointed time and rescheduled it. This type of behavior, whether intentional or not, can turn off the other party and kill the deal.

After the initial meeting or meetings are over and the advisor and the firm agree to proceed, a thorough review of both the broker's book and the brokerage firm is in order. All reputable brokerage firms do an examination of the book they are considering buying. And it's up to the advisor to do be just as cautious on his side of the transaction.

Your Checklist

Steve Wink and Brian Mumford, of New York-based law firm Cahill/Wink, have a basic group of questions you need to ask yourself and your prospective new employer before you take the plunge. It's a long list, but it will be worth your while to read before you take the plunge.

* Will you be able to contact a person when you have a problem? Or will you be routed to a central operations center where you can get lost in the shuffle?

* Can the firm identify a point person who will help you with any problems in moving your accounts?

* Do you fully understand the conditions and vesting periods for promissory notes, restricted stock and non-compete agreements? You should be clear on this information well before the day you transfer when you will be asked to sign related documents. In today's economy, the enforcement of upfront promissory notes has become more aggressive so you need to negotiate the terms of your note prior to signing.

* Does the firm's new account documentation require excessive signatures? Try to determine how many different forms your average client will need to sign to open comparable accounts at the new firm.

* Are your current firm and the new firm both signatories to the Protocol for Broker Recruiting? If so, will the new firm provide a compliance person or attorney to guide you through the protocol procedures? Whether you are governed by the protocol or not, under what conditions will the new firm pay for your attorney if legal issues do arise regarding the transfer?

* Will the new firm pay for your legal fees related to negotiating your deal?

* Does the firm have the technology to produce any reports you and your clients need and are familiar with?

* Find out whether all branches and back office support are on the same technology platform, particularly with firms that have grown through mergers. Have there been any recent complaints to the firm by brokers regarding its systems or support?

* Are there any policies or procedures at the firm that might make it difficult to conduct your type of business? For example, are certain kinds of securities discouraged, such as private placements?