“And by the end of this year, we'll realize the remaining 10% of run rate expense synergies from the acquisition.”

In context

“lients without asking for any trade-offs. So Rick, let me turn it over to you for some more discussion on our efforts as well as results during the second quarter. Rick Wurster: Thanks, Walt, and good morning, everyone. With the successful completion of the Ameritrade conversion behind us, we are looking ahead to an exciting new chapter as we continue to advance our four strategic focus areas. And we will do so from a position of strength, having fully combined the best of Schwab and Ameritrade to offer our clients a no trade-offs experience. Our ability to increase our scale while also continuously driving efficiency in our operations remains one of our key competitive advantages. The Ameritrade integration is a clear example of how we have vastly increased our scale while cutting costs. And by the end of this year, we'll realize the remaining 10% of run rate expense synergies from the acquisition. Over time, our growing client base, our cost discipline and our ongoing investments in technology will continue to help us reduce our cost to serve our clients, in the same way it has over the past decade as we've decreased our cost per client account by 25% and by around 50% when you consider inflation. We plan to build on this competitive advantage. We will invest in technology, including artificial intelligence, that will ultimately help us lower our costs. We will implement operational enhancements and process transformation so we can serve our clients even more efficiently than we do today. And as we continue to increase our scale and enhance our efficiency, we'll reinvest in our clients over time and support our growth for the long term, just as we've done historically. Win-win mone”