“And none of what is happening should interfere with our ability to grow our revenue and our net interest margin, and none of it should impact our ability to deliver earnings growth consistent with our financial formula over the coming quarters and years.”

In context

“uals who question it, I would suggest that maybe they don’t really understand what we mean when we say through clients’ eyes or they don’t really understand our long-term horizon for growth because we proactively contact clients because it’s the right thing to do. The right thing to move their investment cash into higher-yielding options. And our clients, not surprisingly, respond very favorably to our proactive efforts to show them how to increase their yields on investment cash. I guess if I were to summarize this slide, I’d say that if you understand our firm, if you understand Schwab, you know we are doing exactly what you should expect us to do in the middle of a rapidly rising rate environment. And our clients are doing exactly what we expect that they would and, frankly, should do. And none of what is happening should interfere with our ability to grow our revenue and our net interest margin, and none of it should impact our ability to deliver earnings growth consistent with our financial formula over the coming quarters and years. Before I pass it over to Rick to cover some of our strategic efforts in more detail, I want to spend a couple of moments on the status of our Ameritrade integration and conversion because we’re closing our second full year of preparing for conversion, and we feel very good about where we are. We have built tremendous scale and capacity, far greater than we anticipated when we announced this acquisition. We’ve committed to retaining our high-end clients with capabilities that take great features from both firms, for example, from Ameritrade, things like iRebal, thinkorswim and thinkpipes. We’ve worked diligently to make the actual conversion process streamlined and simple for our combined clients, along with retaining key high-quality employees, and of course, we’ve done all this, as you k”