U.S. Bancorp is doubling down on its very profitable wealth management business.

“The bank has a lot of touch points with clients,” said Mark Jordahl, president of USB Wealth Management. “And we have a big opportunity to scale wealth management with [18 million] clients of the bank.”

USB this month, without announcement, is increasing marketing behind its wealth and securities business, including brand integration throughout its four businesses. USB Wealth Management also has jettisoned the sometimes confusing Private Client Reserve name for clients with $3 million to $75 million in investable assets. Now it’s just Private Client.

USB Wealth Management business covers clients with investable assets of a few hundred thousand bucks to the richest, those with assets of $75 million or more. They receive silk-glove investment advisory, trust and estate planning, family counseling, banking, mortgage and other services within the firm’s Ascent offices for its wealthiest customers.

USB also has invested in improving online tools for wealth management clients, particularly younger ones attuned to tech.

Jordahl, 57, a 16-year USB veteran, and Dan Farley, 42, who runs the Twin Cities wealth business, stressed in an interview that the key ingredient remains the relationship with a trusted adviser that spans financial planning, from asset allocation to estate plans and philanthropy.

“We want to continue to grow the business and there’s a lot of room to grow it,” Farley said.

USB, through acquisition and organic growth, was considered one of the best-run financial complexes in the country over the last decade under just-retired CEO Richard Davis.

Wealth management is the smallest but fastest growing business within the USB family. There’s opportunity.

USB is the nation’s eighth-largest banker, but only the 18th largest wealth manager, with assets of about $140 billion.

Bank executives want to grow wealth management, including individual and corporate trust and securities-related business.

The emphasis, in addition to new customer referrals, is a team-based approach that “brings the whole bank to affluent customers.” And USB Wealth has demonstrated growth in a fee-based business that provides repeating streams of income.

The wealth management and securities services business posted a 56.6 percent increase in net income last year to $379 million, according to USB filings with the Securities and Exchange Commission.

Meanwhile, USB’s wholesale banking and commercial real estate business had flat net income of $861 million. There’s a lot of competition in that market of financing large companies and huge real estate deals.

USB’s biggest business, consumer and small business banking, saw an increase in net income of 3.6 percent to $1.4 billion last year. Finally, Payment Services, including credit cards, contributed $1.3 billion to net income, an increase of 8.8 percent, second in the growth department to wealth management.

The growth in wealth management proves advising rich folks is a growth business.

The current economic recovery, the longest in U.S. history, has delivered great prosperity, disproportionately to the affluent. Some made it. Others inherited it.

And there’s tons of money to be made helping folks manage their money and affairs.