“So in the scenario that we shared, if you do the math, as an example, you'll see that we'd expect to generate roughly $500 million more in net interest revenue in the fourth quarter than we did in the second quarter despite allowing for some continuation of the client cash sorting.”

In context

“growth of total client assets. Third, and this is really important, the cash is staying at Schwab. We've done a lot to create a great array of cash solutions and we've done a lot and continue to do a lot to make our clients aware of those solutions, make sure they're making smart decisions with regard -- regarding their cash. We want our clients to be happy, and we want that cash to stay at Schwab, and that we're seeing -- certainly seeing that happen. Fourth, I think when you look at sorting in isolation, you're only really looking at one part of the equation. And what I mean by that is that the rate increases that give rise to the sorting also help us earn more on the interest assets that remain here, the cash that remains here. Driving NIR higher despite lower interest-earning assets. So in the scenario that we shared, if you do the math, as an example, you'll see that we'd expect to generate roughly $500 million more in net interest revenue in the fourth quarter than we did in the second quarter despite allowing for some continuation of the client cash sorting. And the last point I would make, fifth point I would make is to the extent that cash balances decrease, it frees up capital, enabling us to buy back stock and drive EPS growth one way or the other. Hopefully, that answers your question, Ken. Ken Worthington: Awesome. And then just on the win-win monetization as a key priority. You've announced the enhanced relationship with T. Rowe. I guess how is that proceeding? And then can you talk about plans to further build on what you started with T. Rowe with other asset managers? What's the road map? And what should we be expecting for the $1.5 trillion or so of third-party fund assets that you're not charging asset managers directly for right now. Rick Wurster: Thank you for the question. First thing I would say as it relates to your specific q”