“I mean that is typical seasonality. Keep in mind that some of that cost also is higher volumes and higher volume related costs. But that is contemplated -- this kind of spend in the first quarter is contemplated in that full year range that we provided of 4.5% to 5.5% of expense growth.”

In context

“e of OpEx growth over the course of the year. It sounds like there's no change at this point to your full year target but Q1 came in a little faster than expected. So how do we think about sort of the cadence of spend given the investments you're making in the advisor network and opening up more branches, and what does that sort of imply for the exit rate? I would assume next year is probably another investment and growth oriented year but operating leverage has always been part of the financial formula. So any color you can give there would be helpful. Mike Verdeschi: So I talked about the -- I mean, first, just that full year earnings per share range, we feel very good about that range and in fact, the upper end of that range. When I think about expenses, yes, we do see an uptick in 1Q. I mean that is typical seasonality. Keep in mind that some of that cost also is higher volumes and higher volume related costs. But that is contemplated -- this kind of spend in the first quarter is contemplated in that full year range that we provided of 4.5% to 5.5% of expense growth. And again, we feel good about this expense growth even in this environment because we're investing in growth, we're investing in capabilities. We're going to do more for clients. While at the same time, we're investing in efficiency and that's going to ensure that we can maintain that low cost to serve and be able to continue to make progress in that area as well. Operator: Our next question comes from Ben Rubin with UBS. Ben Rubin: Another question here for Mike on the balance sheet. You paid down nearly $30 billion in supplemental funding over the past two quarters alone, which is encouraging to see. But in your prepared remarks, you spoke to achieving more funding diversity over the long term between sweep deposits, other products like brokered CDs, as well as potential third party arr”