With consolidation on the rise, financial advisers at bigger firms are well to keep their résumés updated and knock the cobwebs off their contact list.

Recruiters in the financial advisory world believe that planners should do some career due diligence in advance — in other words, make sure they know what's out there, and what's right for them before they're forced to make a decision in a nervous scramble.

"Anyone who would take on a new hire takes a while to check out references, past position," says Danny Sarch, founder of Leitner Sarch Consultants of White Plains, N.Y. "And a planner's own due diligence process should take awhile too. A mistake brokers make is often waiting for a period of high stress before they make a move, such as when their firm is being taken over."

And that's not an unlikely scenario given the movement within the financial advisory world in recent months. UBS announced its purchase of Piper Jaffray's client network in April, and Smith Barney absorbed Legg Mason's brokers, with Merrill Lynch swallowing Advest's advisory branch last year.

"Since the environment is ever-changing, you need to always prepare yourself," says Carri Degenhardt-Burke, founder of Degenhardt Consulting in Jersey City, N.J. "It always pays to have a recruiter or yourself reach out to other companies."

Degenhardt-Burke points out a truism in any business — people are more wanted if they have a job, rather than if they've been acquired in a take-over or purchase. Keeping aware of offers and openings ahead of time can help an adviser make a jump when rumors begin to fly. But one key to a successful leap is having a strong book of business, believes Degenhardt-Burke. "Big wire houses always want to recruit you if you have a big book," she says. "So if you feel if you're being undercut, and want to be treated better, that's a good time to reach out."

Tabitha Reed, regional director in Missouri with Linsco/Private Ledger, also suggests advisers make sure they keep an eye on themselves, and not worry about where everyone else is moving. What's right for one planner may not be right for another.

Meeting with other firms and recruiters is a great way to learn about other options — on occasion. Too many lunches and coffees might make a planner appear unhappy to those looking to recruit, rather than confident and simply curious about future possibilities. "About once a year or every four to six months is nice," she says. "You should be aware of what's out there and be doing your own homework."

Sarch agrees that meetings like that are necessary — even if a planner is actually happy with his or her current scenario and not looking to move at that time. "If you're a smart businessman you should always want to see what options are out there for you, even if it's not the best time for you to be leaving your firm right then."

But he stresses that inconspicuous meetings are crucial. While a planner doesn't need to take it to Mission Impossible levels, it's not a bad idea to pick a lunch spot that's in a neighboring town, if possible. "You need to be subtle and careful about it," he says. "Meet in darker places or after hours. And if it is discovered that you're hunting, if you're a good producer, that's okay. It could actually get you more attention if your firm wants to make you more happy."