Aggressive recruiting has returned. Now more than ever, firms across the country are competing for experienced producers and are using bonuses to bring in talent. The bonuses are typically structured with at least two-thirds given upfront as a forgivable loan and the remainder contingent upon reaching asset transfer and growth targets over the next few years.

According to AdvisorHub, talent wars result from increasing competition from relatively new entrants to the industry. For example, Rockefeller Capital Management and independent broker Sanctuary Wealth launched in the last five years and have been targeting a similar group of multi-million-dollar producers. UBS, Morgan Stanley and Merrill Lynch also have returned to the market to recruit veteran advisors.

For instance, First Republic Bank's recruiting bonus has climbed to 375 percent of prior 12-month revenue.

As the recruiting wars continue and bonuses increase, advisors should retain qualified legal counsel familiar with transition deals, especially since extended market declines may make back-end targets challenging to reach.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.