“We expect our Ameritrade clients to continue to grow their net new assets at the firm as they’ve done the last 2 quarters.”

In context

“would see. We’ve seen less than that. We’ve outperformed that. And for two quarters in a row, we’ve begun to see former Ameritrade clients contribute positively to net new assets. So, our expectation is that over time as those clients become more familiar with our platform, get comfortable with it as we build a relationship with those clients because I think that’s a big difference between some of what they would have experienced at Ameritrade and what they’re experiencing now as part of Schwab is the relationship element of what we do, the service part of what we do. As they get to experience that, we believe they will contribute more net new assets over time and grow into the level that we see from our Schwab clients. So, we do expect that our long-term growth trajectory will continue. We expect our Ameritrade clients to continue to grow their net new assets at the firm as they’ve done the last 2 quarters. And importantly, all signs that we’re seeing with our Ameritrade clients suggest that our relationship model is working. And if you look at our record flows into our wealth area, a significant portion over a third of the flows are coming from former Ameritrade clients. And if you look at our lending capabilities, half of new originations in our pledged asset line, half of the growth came from former Ameritrade clients. So, the push to put our arms around these Ameritrade clients, help them in their financial life just as we’ve done for Schwab clients is working and our expectation is that you’ll see over the long-term our growth in the range that you’ve seen it at Schwab. Operator: Thank you. Our next question comes from Kyle Voigt from KBW. Please go ahead. Kyle Voigt: Hi, good morning.”