Wealth management looms as a growth industry, one that has many firms scrambling. Lots of hiring is going on at the big boys, the likes of Bank of America Merrill Lynch (BAC), Wells Fargo (WFC) and plenty of smaller RIA shops. A good indication of what's going on comes from Raymond James.

The Florida-based firm's adviser force grew 4 percent to 4,755, and client assets increased by more than a third to $232 billion, notes Reuters. Last week, it hired 10 advisers, who collectively managed more than $1 billion, over the past 4 months. The new hires came from the likes of Morgan Stanley Smith Barney (MS), Bank of America Merrill Lynch and Wells Fargo. We're likely to see a lot more poaching and recruiting in 2010, but perhaps not at the frenzied pace of 2009.

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