“From here, we could see greater margin expansion. But again, there is no arbitrary target on that or ceiling on that per se.”

In context

“el Verdeschi: Mike, thanks for the question. So first on the margin lending growth -- margin growth -- sorry. The way we think about that is we've seen good margin expansion. Again, that is the result of a well-balanced approach to how we're managing our financials. As you've heard Rick and I talk about today, we're doing more for clients. We're seeing good take-up of our broader suite of products. And with that comes good revenue diversification, and that supports the durability of those revenues. Put that alongside a balanced approach to our expense management. We're investing in our strategic priorities. But at the same time, we're investing in efficiency, and that's ensuring that we can maintain a low cost to serve. That also helps to grow strong financials and see that margin expand. From here, we could see greater margin expansion. But again, there is no arbitrary target on that or ceiling on that per se. It is a result of that approach that we take to managing the financials. In AI, we're already seeing efficiencies where we've invested in having our client-facing reps use AI. We've grown client accounts, we've grown assets, and we've been able to moderate the amount of client-facing reps that we've grown. So we are already seeing efficiency. We want to continue to roll out AI, especially in our technology organization and continued in our service areas. I think the key metrics that we'll continue to focus on is that EOCA is that cost per account. I think you'll see that come through and continue to be relevant. We plan to continue to maintain that low cost to serve and continue to drive those costs lower. Thank you for the question. Richard Wurster: Thank you for your questions and engag”