The retail wealth management industry has emerged as one of the staple businesses in diversified banks at a time when the composition of earnings seems to be in flux. Wealth management offers a stable source of earnings not subject to regulatory vagaries, expect perhaps the controversy over a fiduciary standard for Series 7 brokers.

Now it's clear the rising industry has lifted the private banking industry as well, and we're starting to see some cross over. Citigroup wants to double its private banker ranks to about 260 within three years, according to FOX Business. U.S. Trust is also staffing up, as are Bank of New York Mellon and Wells Fargo. Increasingly, they are looking to brokerages and advisory firms for recruits.

In most cases, private banks are not offering the same incentives as other brokerages and advisory firms. But for those that really value the core work--providing financial services--it may offer a better, less heated  environment.

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