“So, we're going to grow client loans, we're going to meet those needs.”

In context

“good momentum in margin lending, good momentum in our bank offerings as well. So, we do believe, over the course of the year, we're going to see a reflection of that activity. Of course -- and we're also expecting to see that improved liability mix. Again, very focused on bringing down the supplemental borrowings. We're seeing that realignment. We're away from that stabilization to back to a more normalized environment. So, I think that's at the core of how I see the balance sheet evolving. When I think about the comments about the balance sheet size, just taking a step back. Again, we are a growth firm. We are focused on growth and meeting the evolving needs of our clients. That bank platform, as Rick mentioned earlier, that's an important platform for achieving our strategic objectives. So, we're going to grow client loans, we're going to meet those needs. Of course, there's a part of that balance sheet, the supplemental borrowings, that we are bringing down with intent. But might you find yourself in a situation one day, again, going back a few years where lots of liquidity is coming into the system, might you want to have the tactical flexibility to move some liquidity off balance sheet if it made sense for clients, if it made sense for the economics, that might be a capability that would give us some flexibility. But again, our strategy is growth. I think what that capability does of moving more liquidity off balance sheet, it just gives you flexibility to operate across a range of environments. Operator: Thank you. Our next question comes from Devin Ryan with Citizens JMP. Your line is open. Devin Ryan: Great. Good morning, Rick and Mik”