Paul Shoukry : And the only other thing I’ll add to that is we have over $40 billion of purchased money market funds or our clients have over $40 billion of purchase money market funds on the platform. So all the cash really stayed within the system to the extent that — and we earn very little on those purchased money market funds as a firm. So to the extent that our clients prefer to have the FDIC insurance at the attractive rate that we would be willing to offer that we are offering today that could really be a win-win for the client and for the firm because now that cash, even though it’s higher cost to funding relative to our suits can give us — generate more economics than staying in the purchase money market fund. So you kind of have to look at the holistic picture to determine whether or not it’s really a win-win. And as Paul said earlier, we always strive to look for those win-win opportunities for both clients, advisors and the firm.
Paul Reilly : And part of the comfort we’ve had is just our nature when you looked at Raymond James Bank history at about 95% of the deposits insured. We went way out of our way and take money in programs to make sure they were insured just as a matter of course, we weren’t worried about — we weren’t worried about uninsured deposits a few years ago when deposits were flushed. But typical for us, we just look down range and say, okay, for the premium, it’s worth it to have for clients to be protected, and I think it keeps our funding sources more stable.
Brennan Hawken : Okay. That’s helpful. And also for the added points on your philosophy. Could you touch on the point about overall cash trends quarter-to-date beyond just the Enhanced?
Paul Shoukry : Yes. As I said, we are today right around where we ended the quarter. We’re right around $52 billion of sweep and Enhanced Saving Program balances. I think the Enhanced Saving Program balances are over $4.5 billion. And again, to be flat in the month of April with the tax payments and the quarterly fee billings, we think is a good result and hopefully portends well for the dynamic going forward.
Operator: And there are no further questions at this time. I will now turn the presentation back to the speakers.
Paul Reilly : Yes. Good. Thank you all for joining us. I know you’re all busy, given all the dynamics in the market. So obviously, an uncertain market. But again, I think the conservative way we run the firm really puts us in good shape. We are at our conference with 4,000 advisors here and there pretty excited. So it’s nice to be here. Thanks for joining us, and we’ll talk to you all soon.
Operator: That does conclude today’s conference. We thank you for your participation and ask that you please disconnect your lines.
