{"version":"1.0.0","segments":[{"speaker":"Silvio Stroescu","startTime":0.0,"endTime":3.51,"body":"Trading volume"},{"speaker":"Silvio Stroescu","startTime":0.0,"endTime":3.51,"body":"in December was 45%. Higher than"},{"speaker":"Silvio Stroescu","startTime":3.51,"endTime":8.22,"body":"what you would typically see in"},{"speaker":"Silvio Stroescu","startTime":3.51,"endTime":8.22,"body":"the old reality. During the peak"},{"speaker":"Silvio Stroescu","startTime":8.22,"endTime":12.84,"body":"season, let's call it a peak RSP"},{"speaker":"Silvio Stroescu","startTime":8.22,"endTime":12.84,"body":"season slowest month is 45%."},{"speaker":"Silvio Stroescu","startTime":12.87,"endTime":16.56,"body":"Higher than then like previous"},{"speaker":"Silvio Stroescu","startTime":12.87,"endTime":16.56,"body":"records, right. So that's the"},{"speaker":"Silvio Stroescu","startTime":16.56,"endTime":17.61,"body":"magnitude of this."},{"speaker":"Unknown","startTime":27.99,"endTime":30.96,"body":"This is Erica Ehm. And"},{"speaker":"Unknown","startTime":27.99,"endTime":30.96,"body":"you're listening to the mostly"},{"speaker":"Unknown","startTime":30.96,"endTime":34.41,"body":"money podcast with Preet"},{"speaker":"Unknown","startTime":30.96,"endTime":34.41,"body":"Banerjee, when you could be"},{"speaker":"Unknown","startTime":34.41,"endTime":38.28,"body":"listening to my podcast the"},{"speaker":"Unknown","startTime":34.41,"endTime":38.28,"body":"reinvention of the vj, get your"},{"speaker":"Unknown","startTime":38.28,"endTime":39.18,"body":"priorities straight!"},{"speaker":"Preet Banerjee","startTime":47.49,"endTime":49.68,"body":"This is mostly"},{"speaker":"Preet Banerjee","startTime":47.49,"endTime":49.68,"body":"money and I'm your host Preet"},{"speaker":"Preet Banerjee","startTime":49.68,"endTime":52.17,"body":"Banerjee. Now on the show today"},{"speaker":"Preet Banerjee","startTime":49.68,"endTime":52.17,"body":"I'll be speaking with the"},{"speaker":"Preet Banerjee","startTime":52.17,"endTime":56.7,"body":"president of BMO investor line,"},{"speaker":"Preet Banerjee","startTime":52.17,"endTime":56.7,"body":"partly in response to a Rob"},{"speaker":"Preet Banerjee","startTime":56.7,"endTime":60.36,"body":"Carrick article in a tweet that"},{"speaker":"Preet Banerjee","startTime":56.7,"endTime":60.36,"body":"we were both tagged in, in which"},{"speaker":"Preet Banerjee","startTime":60.39,"endTime":62.97,"body":"a client of BMO investor line"},{"speaker":"Preet Banerjee","startTime":60.39,"endTime":62.97,"body":"was complaining about not being"},{"speaker":"Preet Banerjee","startTime":62.97,"endTime":65.07,"body":"able to get through to a"},{"speaker":"Preet Banerjee","startTime":62.97,"endTime":65.07,"body":"customer service rep to make"},{"speaker":"Preet Banerjee","startTime":65.07,"endTime":67.83,"body":"transactions in their self"},{"speaker":"Preet Banerjee","startTime":65.07,"endTime":67.83,"body":"directed discount brokerage"},{"speaker":"Preet Banerjee","startTime":67.83,"endTime":70.86,"body":"account. And I'll point out that"},{"speaker":"Preet Banerjee","startTime":67.83,"endTime":70.86,"body":"that seems to be a common"},{"speaker":"Preet Banerjee","startTime":70.86,"endTime":73.98,"body":"complaint across the industry."},{"speaker":"Preet Banerjee","startTime":70.86,"endTime":73.98,"body":"So we're going to hear his"},{"speaker":"Preet Banerjee","startTime":73.98,"endTime":77.37,"body":"response to that. But first, I"},{"speaker":"Preet Banerjee","startTime":73.98,"endTime":77.37,"body":"need to make a disclosure of a"},{"speaker":"Preet Banerjee","startTime":77.37,"endTime":81.75,"body":"conflict of interest. I consider"},{"speaker":"Preet Banerjee","startTime":77.37,"endTime":81.75,"body":"Silvio to be a friend. And we've"},{"speaker":"Preet Banerjee","startTime":81.81,"endTime":84.78,"body":"worked together on some small"},{"speaker":"Preet Banerjee","startTime":81.81,"endTime":84.78,"body":"projects at his previous firm."},{"speaker":"Preet Banerjee","startTime":85.05,"endTime":88.2,"body":"We share a love of motorcycles,"},{"speaker":"Preet Banerjee","startTime":85.05,"endTime":88.2,"body":"we bonded over that. And also"},{"speaker":"Preet Banerjee","startTime":88.2,"endTime":90.93,"body":"I've done some work for beemo."},{"speaker":"Preet Banerjee","startTime":88.2,"endTime":90.93,"body":"In the past, I think before"},{"speaker":"Preet Banerjee","startTime":90.93,"endTime":96.24,"body":"Silvio was there. So let me"},{"speaker":"Preet Banerjee","startTime":90.93,"endTime":96.24,"body":"introduce my guest. He's the"},{"speaker":"Preet Banerjee","startTime":96.24,"endTime":100.89,"body":"president of BMO investment"},{"speaker":"Preet Banerjee","startTime":96.24,"endTime":100.89,"body":"line, Silvio Soares qu. And"},{"speaker":"Preet Banerjee","startTime":100.92,"endTime":103.35,"body":"Sylvia, thank you for taking the"},{"speaker":"Preet Banerjee","startTime":100.92,"endTime":103.35,"body":"time out of your busy schedule"},{"speaker":"Preet Banerjee","startTime":103.35,"endTime":105.81,"body":"to speak with me on the podcast,"},{"speaker":"Preet Banerjee","startTime":103.35,"endTime":105.81,"body":"and welcome to the show."},{"speaker":"Silvio Stroescu","startTime":106.11,"endTime":107.58,"body":"Hey, thanks,"},{"speaker":"Silvio Stroescu","startTime":106.11,"endTime":107.58,"body":"Preet, and thanks for the"},{"speaker":"Silvio Stroescu","startTime":107.58,"endTime":110.46,"body":"opportunity to talk through"},{"speaker":"Silvio Stroescu","startTime":107.58,"endTime":110.46,"body":"this. I think it's an important"},{"speaker":"Silvio Stroescu","startTime":110.46,"endTime":113.85,"body":"topic. And it's best for us to"},{"speaker":"Silvio Stroescu","startTime":110.46,"endTime":113.85,"body":"be out here chatting about it,"},{"speaker":"Silvio Stroescu","startTime":113.85,"endTime":115.35,"body":"so people have a better"},{"speaker":"Silvio Stroescu","startTime":113.85,"endTime":115.35,"body":"understanding of what's"},{"speaker":"Silvio Stroescu","startTime":115.35,"endTime":115.8,"body":"happening."},{"speaker":"Preet Banerjee","startTime":116.43,"endTime":118.32,"body":"Yeah, and you"},{"speaker":"Preet Banerjee","startTime":116.43,"endTime":118.32,"body":"know, I'll give some background."},{"speaker":"Preet Banerjee","startTime":118.32,"endTime":121.2,"body":"So there was a tweet from"},{"speaker":"Preet Banerjee","startTime":118.32,"endTime":121.2,"body":"someone who tagged as both and"},{"speaker":"Preet Banerjee","startTime":121.2,"endTime":125.28,"body":"they were talking about how they"},{"speaker":"Preet Banerjee","startTime":121.2,"endTime":125.28,"body":"had an issue talking to a"},{"speaker":"Preet Banerjee","startTime":125.28,"endTime":129.24,"body":"customer service rep about some"},{"speaker":"Preet Banerjee","startTime":125.28,"endTime":129.24,"body":"kind of transaction that they"},{"speaker":"Preet Banerjee","startTime":129.24,"endTime":131.94,"body":"wanted to execute or a question"},{"speaker":"Preet Banerjee","startTime":129.24,"endTime":131.94,"body":"that hey, I don't know exactly"},{"speaker":"Preet Banerjee","startTime":132.15,"endTime":135.12,"body":"what their issue was. But they'd"},{"speaker":"Preet Banerjee","startTime":132.15,"endTime":135.12,"body":"said that had been a couple of"},{"speaker":"Preet Banerjee","startTime":135.12,"endTime":138.6,"body":"days of trying, and the wait"},{"speaker":"Preet Banerjee","startTime":135.12,"endTime":138.6,"body":"times were at sometimes over an"},{"speaker":"Preet Banerjee","startTime":138.63,"endTime":142.65,"body":"hour each time. And as I"},{"speaker":"Preet Banerjee","startTime":138.63,"endTime":142.65,"body":"mentioned, Rob Carrick, arguably"},{"speaker":"Preet Banerjee","startTime":142.65,"endTime":145.8,"body":"the most influential personal"},{"speaker":"Preet Banerjee","startTime":142.65,"endTime":145.8,"body":"finance writer in Canada wrote"},{"speaker":"Preet Banerjee","startTime":145.8,"endTime":149.16,"body":"an article about this a month"},{"speaker":"Preet Banerjee","startTime":145.8,"endTime":149.16,"body":"ago. And it was an opinion"},{"speaker":"Preet Banerjee","startTime":149.16,"endTime":152.82,"body":"piece, which based on what he"},{"speaker":"Preet Banerjee","startTime":149.16,"endTime":152.82,"body":"had been hearing from readers"},{"speaker":"Preet Banerjee","startTime":152.82,"endTime":155.43,"body":"and seeing online, the number"},{"speaker":"Preet Banerjee","startTime":152.82,"endTime":155.43,"body":"one complaint against discount"},{"speaker":"Preet Banerjee","startTime":155.43,"endTime":159.33,"body":"brokers in general, seem to be"},{"speaker":"Preet Banerjee","startTime":155.43,"endTime":159.33,"body":"the long wait times to speak to"},{"speaker":"Preet Banerjee","startTime":159.33,"endTime":163.41,"body":"anyone across the board. Not"},{"speaker":"Preet Banerjee","startTime":159.33,"endTime":163.41,"body":"this is not just a beemo issued,"},{"speaker":"Preet Banerjee","startTime":163.41,"endTime":167.43,"body":"this was across the board. So"},{"speaker":"Preet Banerjee","startTime":163.41,"endTime":167.43,"body":"let me just start with your"},{"speaker":"Preet Banerjee","startTime":167.46,"endTime":168.57,"body":"response to that."},{"speaker":"Silvio Stroescu","startTime":169.5,"endTime":171.6,"body":"Well, first,"},{"speaker":"Silvio Stroescu","startTime":169.5,"endTime":171.6,"body":"allow me to just acknowledge the"},{"speaker":"Silvio Stroescu","startTime":171.6,"endTime":174.96,"body":"fact that indeed, the wait times"},{"speaker":"Silvio Stroescu","startTime":171.6,"endTime":174.96,"body":"are long, they are a source of"},{"speaker":"Silvio Stroescu","startTime":174.96,"endTime":178.62,"body":"frustration for our clients. And"},{"speaker":"Silvio Stroescu","startTime":174.96,"endTime":178.62,"body":"we are disappointed to be in"},{"speaker":"Silvio Stroescu","startTime":178.62,"endTime":180.45,"body":"this position and put our"},{"speaker":"Silvio Stroescu","startTime":178.62,"endTime":180.45,"body":"clients in a position where they"},{"speaker":"Silvio Stroescu","startTime":180.45,"endTime":183.39,"body":"have to wait so long at the"},{"speaker":"Silvio Stroescu","startTime":180.45,"endTime":183.39,"body":"phones. And we are holding"},{"speaker":"Silvio Stroescu","startTime":183.39,"endTime":185.79,"body":"ourselves accountable to close"},{"speaker":"Silvio Stroescu","startTime":183.39,"endTime":185.79,"body":"the gap as a matter of fact, to"},{"speaker":"Silvio Stroescu","startTime":185.79,"endTime":190.74,"body":"work smart and fast to close the"},{"speaker":"Silvio Stroescu","startTime":185.79,"endTime":190.74,"body":"gap between capacity available"},{"speaker":"Silvio Stroescu","startTime":190.74,"endTime":194.52,"body":"to to handle this level of"},{"speaker":"Silvio Stroescu","startTime":190.74,"endTime":194.52,"body":"demand. So fully, fully"},{"speaker":"Silvio Stroescu","startTime":194.52,"endTime":197.58,"body":"acknowledging that it is a"},{"speaker":"Silvio Stroescu","startTime":194.52,"endTime":197.58,"body":"challenge has been a challenging"},{"speaker":"Silvio Stroescu","startTime":197.58,"endTime":202.44,"body":"time, I would frame this with an"},{"speaker":"Silvio Stroescu","startTime":197.58,"endTime":202.44,"body":"analogy of you know, we're faced"},{"speaker":"Silvio Stroescu","startTime":202.44,"endTime":207.39,"body":"with a tsunami of demand. And"},{"speaker":"Silvio Stroescu","startTime":202.44,"endTime":207.39,"body":"that's this tsunami is actually"},{"speaker":"Silvio Stroescu","startTime":207.39,"endTime":210.78,"body":"flooded all boats. That's that's"},{"speaker":"Silvio Stroescu","startTime":207.39,"endTime":210.78,"body":"what's happening right now. And"},{"speaker":"Silvio Stroescu","startTime":210.78,"endTime":214.02,"body":"indeed, look, the reality is we"},{"speaker":"Silvio Stroescu","startTime":210.78,"endTime":214.02,"body":"have to work on the boats"},{"speaker":"Silvio Stroescu","startTime":214.02,"endTime":217.44,"body":"itself, making sure that we"},{"speaker":"Silvio Stroescu","startTime":214.02,"endTime":217.44,"body":"reduce the wait times. The story"},{"speaker":"Silvio Stroescu","startTime":217.44,"endTime":221.13,"body":"is also the tsunami itself, like"},{"speaker":"Silvio Stroescu","startTime":217.44,"endTime":221.13,"body":"just the significant exponential"},{"speaker":"Silvio Stroescu","startTime":221.13,"endTime":225.63,"body":"increase in demand is is the"},{"speaker":"Silvio Stroescu","startTime":221.13,"endTime":225.63,"body":"root of of what we're facing."},{"speaker":"Preet Banerjee","startTime":225.81,"endTime":228.45,"body":"What do you"},{"speaker":"Preet Banerjee","startTime":225.81,"endTime":228.45,"body":"think is driving all this this"},{"speaker":"Preet Banerjee","startTime":228.45,"endTime":229.53,"body":"demand right now?"},{"speaker":"Silvio Stroescu","startTime":230.58,"endTime":231.96,"body":"We should"},{"speaker":"Silvio Stroescu","startTime":230.58,"endTime":231.96,"body":"really start with a bit of"},{"speaker":"Silvio Stroescu","startTime":231.96,"endTime":235.77,"body":"context, which goes a pre COVID."},{"speaker":"Silvio Stroescu","startTime":231.96,"endTime":235.77,"body":"Right, let's call it pre pre"},{"speaker":"Silvio Stroescu","startTime":235.77,"endTime":239.16,"body":"last spring, which, you know,"},{"speaker":"Silvio Stroescu","startTime":235.77,"endTime":239.16,"body":"seems like a very long time ago,"},{"speaker":"Silvio Stroescu","startTime":239.16,"endTime":243.45,"body":"in hindsight, but adoption of"},{"speaker":"Silvio Stroescu","startTime":239.16,"endTime":243.45,"body":"digital investing was already"},{"speaker":"Silvio Stroescu","startTime":243.45,"endTime":246.69,"body":"growing, and it was growing at"},{"speaker":"Silvio Stroescu","startTime":243.45,"endTime":246.69,"body":"an accelerated pace year over"},{"speaker":"Silvio Stroescu","startTime":246.69,"endTime":248.97,"body":"year, you'd see more and more"},{"speaker":"Silvio Stroescu","startTime":246.69,"endTime":248.97,"body":"Canadians adopt digital"},{"speaker":"Silvio Stroescu","startTime":248.97,"endTime":252.78,"body":"investing. So we were already on"},{"speaker":"Silvio Stroescu","startTime":248.97,"endTime":252.78,"body":"this, you know, accelerated"},{"speaker":"Silvio Stroescu","startTime":252.78,"endTime":255.87,"body":"curve of adoption. what's"},{"speaker":"Silvio Stroescu","startTime":252.78,"endTime":255.87,"body":"happened since March is that"},{"speaker":"Silvio Stroescu","startTime":255.87,"endTime":261.03,"body":"curve has just exponentially"},{"speaker":"Silvio Stroescu","startTime":255.87,"endTime":261.03,"body":"taken off. Right? And when we"},{"speaker":"Silvio Stroescu","startTime":261.03,"endTime":264.36,"body":"asked people before, you know,"},{"speaker":"Silvio Stroescu","startTime":261.03,"endTime":264.36,"body":"we expected it as you know,"},{"speaker":"Silvio Stroescu","startTime":264.36,"endTime":266.55,"body":"preed we're passionate about"},{"speaker":"Silvio Stroescu","startTime":264.36,"endTime":266.55,"body":"digital investing. I know you"},{"speaker":"Silvio Stroescu","startTime":266.55,"endTime":268.71,"body":"are too. So we ask people, you"},{"speaker":"Silvio Stroescu","startTime":266.55,"endTime":268.71,"body":"know, what's preventing you from"},{"speaker":"Silvio Stroescu","startTime":268.71,"endTime":270.87,"body":"actually doing more of this"},{"speaker":"Silvio Stroescu","startTime":268.71,"endTime":270.87,"body":"stuff yourself doing more of it"},{"speaker":"Silvio Stroescu","startTime":270.87,"endTime":274.38,"body":"online? The number one answer"},{"speaker":"Silvio Stroescu","startTime":270.87,"endTime":274.38,"body":"people provide in that context"},{"speaker":"Silvio Stroescu","startTime":274.38,"endTime":277.53,"body":"is time, just lack of time,"},{"speaker":"Silvio Stroescu","startTime":274.38,"endTime":277.53,"body":"right? Like I don't have the"},{"speaker":"Silvio Stroescu","startTime":277.53,"endTime":280.92,"body":"time to actually make the"},{"speaker":"Silvio Stroescu","startTime":277.53,"endTime":280.92,"body":"transactions make the trades I"},{"speaker":"Silvio Stroescu","startTime":280.92,"endTime":284.73,"body":"don't have the time required to"},{"speaker":"Silvio Stroescu","startTime":280.92,"endTime":284.73,"body":"build my level of knowledge. I"},{"speaker":"Silvio Stroescu","startTime":284.73,"endTime":287.04,"body":"don't have the time required to"},{"speaker":"Silvio Stroescu","startTime":284.73,"endTime":287.04,"body":"actually do all that research"},{"speaker":"Silvio Stroescu","startTime":287.04,"endTime":291.09,"body":"and it is also a emotional"},{"speaker":"Silvio Stroescu","startTime":287.04,"endTime":291.09,"body":"component to it. Right? I guess,"},{"speaker":"Silvio Stroescu","startTime":291.09,"endTime":293.1,"body":"you know, if I had the time I'll"},{"speaker":"Silvio Stroescu","startTime":291.09,"endTime":293.1,"body":"build my confidence and with"},{"speaker":"Silvio Stroescu","startTime":293.1,"endTime":296.13,"body":"confidence, I would I would do"},{"speaker":"Silvio Stroescu","startTime":293.1,"endTime":296.13,"body":"this more and better and more"},{"speaker":"Silvio Stroescu","startTime":296.13,"endTime":299.58,"body":"often, right? So what's"},{"speaker":"Silvio Stroescu","startTime":296.13,"endTime":299.58,"body":"transpired since March is you"},{"speaker":"Silvio Stroescu","startTime":299.58,"endTime":303.81,"body":"know, people have have the time"},{"speaker":"Silvio Stroescu","startTime":299.58,"endTime":303.81,"body":"to be able to make to ramp up"},{"speaker":"Silvio Stroescu","startTime":303.81,"endTime":307.02,"body":"their knowledge. You know, we"},{"speaker":"Silvio Stroescu","startTime":303.81,"endTime":307.02,"body":"call it always be learning,"},{"speaker":"Silvio Stroescu","startTime":307.02,"endTime":311.43,"body":"right I, you know, investors"},{"speaker":"Silvio Stroescu","startTime":307.02,"endTime":311.43,"body":"that have adopted DIY platform"},{"speaker":"Silvio Stroescu","startTime":311.43,"endTime":314.49,"body":"self directed platforms are in"},{"speaker":"Silvio Stroescu","startTime":311.43,"endTime":314.49,"body":"this like always be learning"},{"speaker":"Silvio Stroescu","startTime":314.49,"endTime":318.09,"body":"mode feeding and curiosity to"},{"speaker":"Silvio Stroescu","startTime":314.49,"endTime":318.09,"body":"learn about how to trade, how to"},{"speaker":"Silvio Stroescu","startTime":318.09,"endTime":321.6,"body":"build their portfolios, how to,"},{"speaker":"Silvio Stroescu","startTime":318.09,"endTime":321.6,"body":"you know, evolve their learning"},{"speaker":"Silvio Stroescu","startTime":321.6,"endTime":325.35,"body":"from cash accounts to opening"},{"speaker":"Silvio Stroescu","startTime":321.6,"endTime":325.35,"body":"margin accounts, trading and"},{"speaker":"Silvio Stroescu","startTime":325.35,"endTime":329.13,"body":"options, right. So the the"},{"speaker":"Silvio Stroescu","startTime":325.35,"endTime":329.13,"body":"difference breed, if I was to"},{"speaker":"Silvio Stroescu","startTime":329.13,"endTime":333.6,"body":"sum it up is just people now"},{"speaker":"Silvio Stroescu","startTime":329.13,"endTime":333.6,"body":"half the time to actually feed"},{"speaker":"Silvio Stroescu","startTime":333.66,"endTime":334.89,"body":"that curiosity."},{"speaker":"Preet Banerjee","startTime":335.22,"endTime":339.03,"body":"Yeah, and I"},{"speaker":"Preet Banerjee","startTime":335.22,"endTime":339.03,"body":"think along those lines, there's"},{"speaker":"Preet Banerjee","startTime":339.03,"endTime":341.64,"body":"so many people who are now"},{"speaker":"Preet Banerjee","startTime":339.03,"endTime":341.64,"body":"working from home. And that"},{"speaker":"Preet Banerjee","startTime":341.64,"endTime":345.0,"body":"tends to be people who are"},{"speaker":"Preet Banerjee","startTime":341.64,"endTime":345.0,"body":"working in a knowledge economy"},{"speaker":"Preet Banerjee","startTime":345.0,"endTime":348.48,"body":"type job in front of a computer."},{"speaker":"Preet Banerjee","startTime":345.0,"endTime":348.48,"body":"And when you're at work in the"},{"speaker":"Preet Banerjee","startTime":348.48,"endTime":351.15,"body":"office place, it's hard to"},{"speaker":"Preet Banerjee","startTime":348.48,"endTime":351.15,"body":"execute trades, because people"},{"speaker":"Preet Banerjee","startTime":351.15,"endTime":353.46,"body":"can kind of see what you're"},{"speaker":"Preet Banerjee","startTime":351.15,"endTime":353.46,"body":"doing. But when you're at home,"},{"speaker":"Preet Banerjee","startTime":353.85,"endTime":356.85,"body":"you know, you could be on, you"},{"speaker":"Preet Banerjee","startTime":353.85,"endTime":356.85,"body":"know, the eighth zoom conference"},{"speaker":"Preet Banerjee","startTime":356.85,"endTime":360.63,"body":"call of the day, and you've got"},{"speaker":"Preet Banerjee","startTime":356.85,"endTime":360.63,"body":"a second screen or window open,"},{"speaker":"Preet Banerjee","startTime":360.63,"endTime":364.26,"body":"where you're executing your"},{"speaker":"Preet Banerjee","startTime":360.63,"endTime":364.26,"body":"trades. So I imagine just the"},{"speaker":"Preet Banerjee","startTime":364.62,"endTime":367.38,"body":"fact that so many people are"},{"speaker":"Preet Banerjee","startTime":364.62,"endTime":367.38,"body":"working from home, and that no"},{"speaker":"Preet Banerjee","startTime":367.38,"endTime":369.78,"body":"one is sort of monitoring what"},{"speaker":"Preet Banerjee","startTime":367.38,"endTime":369.78,"body":"they're doing at their desk,"},{"speaker":"Preet Banerjee","startTime":370.05,"endTime":374.94,"body":"also affords them the ability to"},{"speaker":"Preet Banerjee","startTime":370.05,"endTime":374.94,"body":"trade, which sounds like, you"},{"speaker":"Preet Banerjee","startTime":374.94,"endTime":379.41,"body":"know, this is behavior that I"},{"speaker":"Preet Banerjee","startTime":374.94,"endTime":379.41,"body":"don't know, is in alignment with"},{"speaker":"Preet Banerjee","startTime":379.41,"endTime":383.22,"body":"good investing principles. We're"},{"speaker":"Preet Banerjee","startTime":379.41,"endTime":383.22,"body":"going to talk about that. But"},{"speaker":"Preet Banerjee","startTime":383.22,"endTime":386.67,"body":"let's let's go back to this"},{"speaker":"Preet Banerjee","startTime":383.22,"endTime":386.67,"body":"issue about, you know, the"},{"speaker":"Preet Banerjee","startTime":386.67,"endTime":390.72,"body":"increased demand, and how this"},{"speaker":"Preet Banerjee","startTime":386.67,"endTime":390.72,"body":"has put a strain on the current"},{"speaker":"Preet Banerjee","startTime":390.72,"endTime":393.18,"body":"system. So you talked about pre"},{"speaker":"Preet Banerjee","startTime":390.72,"endTime":393.18,"body":"COVID, there being an"},{"speaker":"Preet Banerjee","startTime":393.18,"endTime":397.32,"body":"acceleration in digital"},{"speaker":"Preet Banerjee","startTime":393.18,"endTime":397.32,"body":"adoption, but then that hit an"},{"speaker":"Preet Banerjee","startTime":397.32,"endTime":400.86,"body":"inflection point, and really"},{"speaker":"Preet Banerjee","startTime":397.32,"endTime":400.86,"body":"increased after the lockdown"},{"speaker":"Preet Banerjee","startTime":400.86,"endTime":406.5,"body":"started. So can you give us a"},{"speaker":"Preet Banerjee","startTime":400.86,"endTime":406.5,"body":"sense to, you know, how long had"},{"speaker":"Preet Banerjee","startTime":406.5,"endTime":410.43,"body":"the long wait times been an"},{"speaker":"Preet Banerjee","startTime":406.5,"endTime":410.43,"body":"issue? Was it before COVID that"},{"speaker":"Preet Banerjee","startTime":410.43,"endTime":414.12,"body":"it started to creep up? And what"},{"speaker":"Preet Banerjee","startTime":410.43,"endTime":414.12,"body":"have the trends been in terms of"},{"speaker":"Preet Banerjee","startTime":414.12,"endTime":416.19,"body":"how long people are waiting to"},{"speaker":"Preet Banerjee","startTime":414.12,"endTime":416.19,"body":"talk to someone?"},{"speaker":"Silvio Stroescu","startTime":416.909,"endTime":419.699,"body":"Yeah, let me"},{"speaker":"Silvio Stroescu","startTime":416.909,"endTime":419.699,"body":"let me first started just by"},{"speaker":"Silvio Stroescu","startTime":419.699,"endTime":423.179,"body":"adding some quants. And and just"},{"speaker":"Silvio Stroescu","startTime":419.699,"endTime":423.179,"body":"a really size of that demand,"},{"speaker":"Silvio Stroescu","startTime":423.179,"endTime":427.139,"body":"right. So you know, pre COVID,"},{"speaker":"Silvio Stroescu","startTime":423.179,"endTime":427.139,"body":"you'd see an increase in"},{"speaker":"Silvio Stroescu","startTime":427.139,"endTime":430.199,"body":"adoption of digital investing,"},{"speaker":"Silvio Stroescu","startTime":427.139,"endTime":430.199,"body":"where new client growth would be"},{"speaker":"Silvio Stroescu","startTime":430.199,"endTime":433.769,"body":"up by 15 to 20%. a year. Right?"},{"speaker":"Silvio Stroescu","startTime":430.199,"endTime":433.769,"body":"I do. That's kind of the the"},{"speaker":"Silvio Stroescu","startTime":433.769,"endTime":437.489,"body":"clip that we were seeing as far"},{"speaker":"Silvio Stroescu","startTime":433.769,"endTime":437.489,"body":"as increasing adoption. what's"},{"speaker":"Silvio Stroescu","startTime":437.489,"endTime":441.029,"body":"transpired since the spring is"},{"speaker":"Silvio Stroescu","startTime":437.489,"endTime":441.029,"body":"the number of new clients is up"},{"speaker":"Silvio Stroescu","startTime":441.029,"endTime":444.479,"body":"two and a half times compared to"},{"speaker":"Silvio Stroescu","startTime":441.029,"endTime":444.479,"body":"previous years, right. So you go"},{"speaker":"Silvio Stroescu","startTime":444.479,"endTime":447.149,"body":"from, you know, the 15 to 20%"},{"speaker":"Silvio Stroescu","startTime":444.479,"endTime":447.149,"body":"range. And now two and a half"},{"speaker":"Silvio Stroescu","startTime":447.149,"endTime":450.629,"body":"times, training activity is"},{"speaker":"Silvio Stroescu","startTime":447.149,"endTime":450.629,"body":"actually up two and a half"},{"speaker":"Silvio Stroescu","startTime":450.629,"endTime":453.209,"body":"times, we've had months where it"},{"speaker":"Silvio Stroescu","startTime":450.629,"endTime":453.209,"body":"was up three times year over"},{"speaker":"Silvio Stroescu","startTime":453.209,"endTime":457.199,"body":"year, just to stay on a trading"},{"speaker":"Silvio Stroescu","startTime":453.209,"endTime":457.199,"body":"activity side of things."},{"speaker":"Silvio Stroescu","startTime":457.379,"endTime":460.439,"body":"December, which typically for us"},{"speaker":"Silvio Stroescu","startTime":457.379,"endTime":460.439,"body":"pretty is a pretty slow month,"},{"speaker":"Silvio Stroescu","startTime":460.469,"endTime":465.299,"body":"right? December was 45%. Higher"},{"speaker":"Silvio Stroescu","startTime":460.469,"endTime":465.299,"body":"the trading volume in December"},{"speaker":"Silvio Stroescu","startTime":465.299,"endTime":470.099,"body":"was 45%. Higher than what you"},{"speaker":"Silvio Stroescu","startTime":465.299,"endTime":470.099,"body":"would typically see in the old"},{"speaker":"Silvio Stroescu","startTime":470.099,"endTime":474.329,"body":"reality, during the peak season,"},{"speaker":"Silvio Stroescu","startTime":470.099,"endTime":474.329,"body":"let's call it a peak RSP season"},{"speaker":"Silvio Stroescu","startTime":474.449,"endTime":479.969,"body":"slowest month is 45%. Higher"},{"speaker":"Silvio Stroescu","startTime":474.449,"endTime":479.969,"body":"than then like previous records,"},{"speaker":"Silvio Stroescu","startTime":479.969,"endTime":483.359,"body":"right? So that's the magnitude"},{"speaker":"Silvio Stroescu","startTime":479.969,"endTime":483.359,"body":"of this in January. So far,"},{"speaker":"Silvio Stroescu","startTime":483.629,"endTime":488.369,"body":"we're seeing an increase of 30%."},{"speaker":"Silvio Stroescu","startTime":483.629,"endTime":488.369,"body":"Over December, like we're"},{"speaker":"Silvio Stroescu","startTime":488.369,"endTime":492.089,"body":"setting new records on these"},{"speaker":"Silvio Stroescu","startTime":488.369,"endTime":492.089,"body":"goalposts keep moving right. One"},{"speaker":"Silvio Stroescu","startTime":492.089,"endTime":494.279,"body":"final a soundbite on that just"},{"speaker":"Silvio Stroescu","startTime":492.089,"endTime":494.279,"body":"to give you a sense of the"},{"speaker":"Silvio Stroescu","startTime":494.279,"endTime":497.339,"body":"magnitude, transaction. So this"},{"speaker":"Silvio Stroescu","startTime":494.279,"endTime":497.339,"body":"includes, you know, fund"},{"speaker":"Silvio Stroescu","startTime":497.339,"endTime":499.979,"body":"transfers, as well as account"},{"speaker":"Silvio Stroescu","startTime":497.339,"endTime":499.979,"body":"transfers, they're up to five"},{"speaker":"Silvio Stroescu","startTime":499.979,"endTime":500.969,"body":"times your"},{"speaker":"Preet Banerjee","startTime":501.0,"endTime":503.13,"body":"five time first"},{"speaker":"Preet Banerjee","startTime":501.0,"endTime":503.13,"body":"nine days of"},{"speaker":"Silvio Stroescu","startTime":503.22,"endTime":506.1,"body":"five times,"},{"speaker":"Silvio Stroescu","startTime":503.22,"endTime":506.1,"body":"first nine days of January. So"},{"speaker":"Silvio Stroescu","startTime":506.1,"endTime":510.18,"body":"that includes January 1, right?"},{"speaker":"Silvio Stroescu","startTime":506.1,"endTime":510.18,"body":"First nine days of January, we"},{"speaker":"Silvio Stroescu","startTime":510.18,"endTime":514.71,"body":"had more transactions than we"},{"speaker":"Silvio Stroescu","startTime":510.18,"endTime":514.71,"body":"did in all of January 2020. So"},{"speaker":"Silvio Stroescu","startTime":515.49,"endTime":519.48,"body":"that's it. That's that's what"},{"speaker":"Silvio Stroescu","startTime":515.49,"endTime":519.48,"body":"we're chasing, if you want to"},{"speaker":"Silvio Stroescu","startTime":519.48,"endTime":522.09,"body":"think of it that way, as far as"},{"speaker":"Silvio Stroescu","startTime":519.48,"endTime":522.09,"body":"demand is moving the goalposts"},{"speaker":"Silvio Stroescu","startTime":522.09,"endTime":524.88,"body":"keep moving, and we have to ramp"},{"speaker":"Silvio Stroescu","startTime":522.09,"endTime":524.88,"body":"up capacity to get there."},{"speaker":"Preet Banerjee","startTime":526.35,"endTime":527.91,"body":"I have so many"},{"speaker":"Preet Banerjee","startTime":526.35,"endTime":527.91,"body":"questions, I have so many"},{"speaker":"Preet Banerjee","startTime":527.91,"endTime":530.22,"body":"questions. Do you have a sense"},{"speaker":"Preet Banerjee","startTime":527.91,"endTime":530.22,"body":"as to where the bulk of"},{"speaker":"Preet Banerjee","startTime":530.22,"endTime":533.1,"body":"transfers are coming from or any"},{"speaker":"Preet Banerjee","startTime":530.22,"endTime":533.1,"body":"trends, where you're saying, oh,"},{"speaker":"Preet Banerjee","startTime":533.1,"endTime":536.19,"body":"there's a massive increase in"},{"speaker":"Preet Banerjee","startTime":533.1,"endTime":536.19,"body":"transfers from these types of"},{"speaker":"Preet Banerjee","startTime":536.19,"endTime":538.98,"body":"institutions? Do you have any"},{"speaker":"Preet Banerjee","startTime":536.19,"endTime":538.98,"body":"anything you can share on that?"},{"speaker":"Silvio Stroescu","startTime":539.64,"endTime":541.83,"body":"What time will"},{"speaker":"Silvio Stroescu","startTime":539.64,"endTime":541.83,"body":"you see is not so much the types"},{"speaker":"Silvio Stroescu","startTime":541.83,"endTime":545.79,"body":"of institutions but you know,"},{"speaker":"Silvio Stroescu","startTime":541.83,"endTime":545.79,"body":"it's empowerment, you know, this"},{"speaker":"Silvio Stroescu","startTime":545.79,"endTime":548.82,"body":"feeling of I'm in power now,"},{"speaker":"Silvio Stroescu","startTime":545.79,"endTime":548.82,"body":"right? What time is a"},{"speaker":"Silvio Stroescu","startTime":548.82,"endTime":551.88,"body":"superpower, frankly, right, to"},{"speaker":"Silvio Stroescu","startTime":548.82,"endTime":551.88,"body":"to be able to make my own"},{"speaker":"Silvio Stroescu","startTime":551.88,"endTime":555.6,"body":"decision. So you have some"},{"speaker":"Silvio Stroescu","startTime":551.88,"endTime":555.6,"body":"investors that were you know,"},{"speaker":"Silvio Stroescu","startTime":555.96,"endTime":558.57,"body":"delegating their investment"},{"speaker":"Silvio Stroescu","startTime":555.96,"endTime":558.57,"body":"decision to either financial"},{"speaker":"Silvio Stroescu","startTime":558.57,"endTime":561.72,"body":"planners, advisors in the past"},{"speaker":"Silvio Stroescu","startTime":558.57,"endTime":561.72,"body":"or investing in products that"},{"speaker":"Silvio Stroescu","startTime":561.72,"endTime":564.42,"body":"were that didn't require them to"},{"speaker":"Silvio Stroescu","startTime":561.72,"endTime":564.42,"body":"be more hands on, you know,"},{"speaker":"Silvio Stroescu","startTime":564.57,"endTime":568.14,"body":"package portfolios. That way,"},{"speaker":"Silvio Stroescu","startTime":564.57,"endTime":568.14,"body":"you're delegating even that"},{"speaker":"Silvio Stroescu","startTime":568.17,"endTime":570.78,"body":"investment management decision,"},{"speaker":"Silvio Stroescu","startTime":568.17,"endTime":570.78,"body":"not just the advice component of"},{"speaker":"Silvio Stroescu","startTime":570.78,"endTime":574.59,"body":"financial planners. So we're"},{"speaker":"Silvio Stroescu","startTime":570.78,"endTime":574.59,"body":"seeing these clients and look,"},{"speaker":"Silvio Stroescu","startTime":574.68,"endTime":577.38,"body":"I'm going to do more On My Own"},{"speaker":"Silvio Stroescu","startTime":574.68,"endTime":577.38,"body":"right now. So that's, that's"},{"speaker":"Silvio Stroescu","startTime":577.38,"endTime":580.83,"body":"part of the trend. The second"},{"speaker":"Silvio Stroescu","startTime":577.38,"endTime":580.83,"body":"when you look at the makeup of"},{"speaker":"Silvio Stroescu","startTime":580.89,"endTime":583.98,"body":"the client base on self directed"},{"speaker":"Silvio Stroescu","startTime":580.89,"endTime":583.98,"body":"platforms, about two thirds of"},{"speaker":"Silvio Stroescu","startTime":583.98,"endTime":586.26,"body":"the client base, I'm going to"},{"speaker":"Silvio Stroescu","startTime":583.98,"endTime":586.26,"body":"say, you know, in the old"},{"speaker":"Silvio Stroescu","startTime":586.26,"endTime":590.01,"body":"reality, two thirds of the"},{"speaker":"Silvio Stroescu","startTime":586.26,"endTime":590.01,"body":"client base where clients over"},{"speaker":"Silvio Stroescu","startTime":590.04,"endTime":595.59,"body":"55 Well, we've seen since the"},{"speaker":"Silvio Stroescu","startTime":590.04,"endTime":595.59,"body":"spring, two thirds of the growth"},{"speaker":"Silvio Stroescu","startTime":595.59,"endTime":598.74,"body":"is actually driven by clients"},{"speaker":"Silvio Stroescu","startTime":595.59,"endTime":598.74,"body":"under 35. Right so you tend to"},{"speaker":"Silvio Stroescu","startTime":598.74,"endTime":602.1,"body":"have more people that are new to"},{"speaker":"Silvio Stroescu","startTime":598.74,"endTime":602.1,"body":"investing, the ones that were"},{"speaker":"Silvio Stroescu","startTime":602.1,"endTime":605.52,"body":"already trading on the platforms"},{"speaker":"Silvio Stroescu","startTime":602.1,"endTime":605.52,"body":"are consolidating their"},{"speaker":"Silvio Stroescu","startTime":605.52,"endTime":608.55,"body":"investments, right. So if they"},{"speaker":"Silvio Stroescu","startTime":605.52,"endTime":608.55,"body":"had cash and savings accounts"},{"speaker":"Silvio Stroescu","startTime":608.58,"endTime":612.75,"body":"elsewhere, or different"},{"speaker":"Silvio Stroescu","startTime":608.58,"endTime":612.75,"body":"investment accounts, through a"},{"speaker":"Silvio Stroescu","startTime":612.75,"endTime":614.97,"body":"different approach to investing,"},{"speaker":"Silvio Stroescu","startTime":612.75,"endTime":614.97,"body":"they're consolidating more"},{"speaker":"Silvio Stroescu","startTime":614.97,"endTime":617.07,"body":"towards a self directed"},{"speaker":"Silvio Stroescu","startTime":614.97,"endTime":617.07,"body":"platform. So those are some of"},{"speaker":"Silvio Stroescu","startTime":617.07,"endTime":618.18,"body":"the themes that we're seeing."},{"speaker":"Preet Banerjee","startTime":618.69,"endTime":620.49,"body":"And when it"},{"speaker":"Preet Banerjee","startTime":618.69,"endTime":620.49,"body":"comes to people are making"},{"speaker":"Preet Banerjee","startTime":620.49,"endTime":622.77,"body":"transfers, how long does it take"},{"speaker":"Preet Banerjee","startTime":620.49,"endTime":622.77,"body":"to complete a transfer? Because"},{"speaker":"Preet Banerjee","startTime":622.77,"endTime":625.41,"body":"I know that that's an issue"},{"speaker":"Preet Banerjee","startTime":622.77,"endTime":625.41,"body":"within the industry as well."},{"speaker":"Preet Banerjee","startTime":625.59,"endTime":629.31,"body":"Usually, it's the relinquishing"},{"speaker":"Preet Banerjee","startTime":625.59,"endTime":629.31,"body":"institution that is kind of"},{"speaker":"Preet Banerjee","startTime":629.31,"endTime":631.95,"body":"holding things up as long as"},{"speaker":"Preet Banerjee","startTime":629.31,"endTime":631.95,"body":"they can. But how long does it"},{"speaker":"Preet Banerjee","startTime":631.95,"endTime":634.35,"body":"take to transfer account these"},{"speaker":"Preet Banerjee","startTime":631.95,"endTime":634.35,"body":"days? Well, look,"},{"speaker":"Silvio Stroescu","startTime":634.35,"endTime":636.45,"body":"we're we're in"},{"speaker":"Silvio Stroescu","startTime":634.35,"endTime":636.45,"body":"transition there, I should say"},{"speaker":"Silvio Stroescu","startTime":636.45,"endTime":639.87,"body":"from, you know, the the old"},{"speaker":"Silvio Stroescu","startTime":636.45,"endTime":639.87,"body":"process which everything has to"},{"speaker":"Silvio Stroescu","startTime":639.87,"endTime":643.35,"body":"be mailed, right. So you know,"},{"speaker":"Silvio Stroescu","startTime":639.87,"endTime":643.35,"body":"if that's the process that the"},{"speaker":"Silvio Stroescu","startTime":643.35,"endTime":645.33,"body":"actual transaction lands in,"},{"speaker":"Silvio Stroescu","startTime":643.35,"endTime":645.33,"body":"you're looking at anywhere"},{"speaker":"Silvio Stroescu","startTime":645.33,"endTime":648.51,"body":"between four to sometimes eight"},{"speaker":"Silvio Stroescu","startTime":645.33,"endTime":648.51,"body":"weeks. And there's also a more"},{"speaker":"Silvio Stroescu","startTime":648.51,"endTime":651.03,"body":"automated process, which"},{"speaker":"Silvio Stroescu","startTime":648.51,"endTime":651.03,"body":"actually makes it happen in less"},{"speaker":"Silvio Stroescu","startTime":651.03,"endTime":654.09,"body":"than two weeks, right. So and"},{"speaker":"Silvio Stroescu","startTime":651.03,"endTime":654.09,"body":"that continues to get even"},{"speaker":"Silvio Stroescu","startTime":654.09,"endTime":657.36,"body":"better. So not all transactions"},{"speaker":"Silvio Stroescu","startTime":654.09,"endTime":657.36,"body":"can go through the automated"},{"speaker":"Silvio Stroescu","startTime":657.36,"endTime":660.03,"body":"process. So it does take a"},{"speaker":"Silvio Stroescu","startTime":657.36,"endTime":660.03,"body":"little bit longer. And as you"},{"speaker":"Silvio Stroescu","startTime":660.03,"endTime":664.38,"body":"can imagine, as you're waiting"},{"speaker":"Silvio Stroescu","startTime":660.03,"endTime":664.38,"body":"for your funds to arrive, you"},{"speaker":"Silvio Stroescu","startTime":664.38,"endTime":666.78,"body":"naturally would call them to"},{"speaker":"Silvio Stroescu","startTime":664.38,"endTime":666.78,"body":"look for an update, right? And"},{"speaker":"Silvio Stroescu","startTime":666.78,"endTime":669.48,"body":"you want to know what's going"},{"speaker":"Silvio Stroescu","startTime":666.78,"endTime":669.48,"body":"on. And there's there's not a"},{"speaker":"Silvio Stroescu","startTime":669.48,"endTime":672.12,"body":"lot of transparency in that"},{"speaker":"Silvio Stroescu","startTime":669.48,"endTime":672.12,"body":"process as far as having really"},{"speaker":"Silvio Stroescu","startTime":672.12,"endTime":675.66,"body":"good policies, aware where that"},{"speaker":"Silvio Stroescu","startTime":672.12,"endTime":675.66,"body":"account transfers sitting every"},{"speaker":"Silvio Stroescu","startTime":675.66,"endTime":675.93,"body":"day."},{"speaker":"Preet Banerjee","startTime":676.2,"endTime":678.54,"body":"So we have Okay,"},{"speaker":"Preet Banerjee","startTime":676.2,"endTime":678.54,"body":"so we've got increased"},{"speaker":"Preet Banerjee","startTime":678.57,"endTime":680.88,"body":"dramatically increased trading"},{"speaker":"Preet Banerjee","startTime":678.57,"endTime":680.88,"body":"activity, we've got a lot of"},{"speaker":"Preet Banerjee","startTime":680.88,"endTime":684.93,"body":"people transferring accounts."},{"speaker":"Preet Banerjee","startTime":680.88,"endTime":684.93,"body":"What do people call in about?"},{"speaker":"Preet Banerjee","startTime":684.93,"endTime":688.41,"body":"Like, I have to be honest, you"},{"speaker":"Preet Banerjee","startTime":684.93,"endTime":688.41,"body":"know, of all the discount"},{"speaker":"Preet Banerjee","startTime":688.41,"endTime":692.52,"body":"brokers I've ever used in? I"},{"speaker":"Preet Banerjee","startTime":688.41,"endTime":692.52,"body":"don't know, decades, I've never"},{"speaker":"Preet Banerjee","startTime":692.52,"endTime":697.2,"body":"called in for anything. But I'm"},{"speaker":"Preet Banerjee","startTime":692.52,"endTime":697.2,"body":"in the industry, or at least was"},{"speaker":"Preet Banerjee","startTime":697.23,"endTime":699.75,"body":"and you know, this is kind of"},{"speaker":"Preet Banerjee","startTime":697.23,"endTime":699.75,"body":"what I do. So I don't need as"},{"speaker":"Preet Banerjee","startTime":699.75,"endTime":702.72,"body":"much help, I would think as the"},{"speaker":"Preet Banerjee","startTime":699.75,"endTime":702.72,"body":"average person. But what do"},{"speaker":"Preet Banerjee","startTime":702.72,"endTime":706.5,"body":"people call into a discount"},{"speaker":"Preet Banerjee","startTime":702.72,"endTime":706.5,"body":"broker? About what are the"},{"speaker":"Preet Banerjee","startTime":706.56,"endTime":709.26,"body":"common types of customer service"},{"speaker":"Preet Banerjee","startTime":706.56,"endTime":709.26,"body":"questions?"},{"speaker":"Silvio Stroescu","startTime":710.28,"endTime":713.1,"body":"will just based"},{"speaker":"Silvio Stroescu","startTime":710.28,"endTime":713.1,"body":"on the sheer increase in demand,"},{"speaker":"Silvio Stroescu","startTime":713.13,"endTime":715.47,"body":"I'd say there are questions that"},{"speaker":"Silvio Stroescu","startTime":713.13,"endTime":715.47,"body":"you would have typically had"},{"speaker":"Silvio Stroescu","startTime":715.47,"endTime":718.08,"body":"before, obviously, you know, at"},{"speaker":"Silvio Stroescu","startTime":715.47,"endTime":718.08,"body":"a different magnitude different"},{"speaker":"Silvio Stroescu","startTime":718.08,"endTime":720.81,"body":"level of volume, right then, and"},{"speaker":"Silvio Stroescu","startTime":718.08,"endTime":720.81,"body":"these include, you know, how"},{"speaker":"Silvio Stroescu","startTime":720.81,"endTime":722.97,"body":"long where's my transfer?"},{"speaker":"Silvio Stroescu","startTime":720.81,"endTime":722.97,"body":"Where's my account transfer? How"},{"speaker":"Silvio Stroescu","startTime":722.97,"endTime":726.72,"body":"long does this take the"},{"speaker":"Silvio Stroescu","startTime":722.97,"endTime":726.72,"body":"conversation we just had around"},{"speaker":"Silvio Stroescu","startTime":726.72,"endTime":729.45,"body":"that process. And you have"},{"speaker":"Silvio Stroescu","startTime":726.72,"endTime":729.45,"body":"people that sometimes forget"},{"speaker":"Silvio Stroescu","startTime":729.45,"endTime":731.79,"body":"their passwords, right. So if"},{"speaker":"Silvio Stroescu","startTime":729.45,"endTime":731.79,"body":"you haven't traded for a long"},{"speaker":"Silvio Stroescu","startTime":731.79,"endTime":733.65,"body":"time, forget your password,"},{"speaker":"Silvio Stroescu","startTime":731.79,"endTime":733.65,"body":"these are all just admin"},{"speaker":"Silvio Stroescu","startTime":733.65,"endTime":735.99,"body":"maintenance type of"},{"speaker":"Silvio Stroescu","startTime":733.65,"endTime":735.99,"body":"transactions, we've done a lot"},{"speaker":"Silvio Stroescu","startTime":735.99,"endTime":739.5,"body":"of work to make sure that the"},{"speaker":"Silvio Stroescu","startTime":735.99,"endTime":739.5,"body":"online capabilities are simple,"},{"speaker":"Silvio Stroescu","startTime":739.53,"endTime":743.1,"body":"intuitive, and people are aware"},{"speaker":"Silvio Stroescu","startTime":739.53,"endTime":743.1,"body":"they can do this stuff online."},{"speaker":"Silvio Stroescu","startTime":743.1,"endTime":745.47,"body":"So we've navigated a lot of"},{"speaker":"Silvio Stroescu","startTime":743.1,"endTime":745.47,"body":"these transactions and are"},{"speaker":"Silvio Stroescu","startTime":745.47,"endTime":748.77,"body":"navigating a lot of these"},{"speaker":"Silvio Stroescu","startTime":745.47,"endTime":748.77,"body":"transactions online. If I was to"},{"speaker":"Silvio Stroescu","startTime":748.8,"endTime":752.55,"body":"sum up again, the theme as far"},{"speaker":"Silvio Stroescu","startTime":748.8,"endTime":752.55,"body":"as why people are calling, let's"},{"speaker":"Silvio Stroescu","startTime":752.55,"endTime":756.36,"body":"say, for one is leveling up. And"},{"speaker":"Silvio Stroescu","startTime":752.55,"endTime":756.36,"body":"let me let me unpack that a"},{"speaker":"Silvio Stroescu","startTime":756.36,"endTime":759.54,"body":"little bit. So we have a lot of"},{"speaker":"Silvio Stroescu","startTime":756.36,"endTime":759.54,"body":"new investors that hadn't"},{"speaker":"Silvio Stroescu","startTime":759.54,"endTime":763.11,"body":"invested in self directed"},{"speaker":"Silvio Stroescu","startTime":759.54,"endTime":763.11,"body":"platforms. So either they, they"},{"speaker":"Silvio Stroescu","startTime":763.11,"endTime":765.27,"body":"were new to investing all"},{"speaker":"Silvio Stroescu","startTime":763.11,"endTime":765.27,"body":"together. So they're leveling up"},{"speaker":"Silvio Stroescu","startTime":765.27,"endTime":767.16,"body":"now to say, Okay, I'm going to"},{"speaker":"Silvio Stroescu","startTime":765.27,"endTime":767.16,"body":"start investing. And I'm"},{"speaker":"Silvio Stroescu","startTime":767.16,"endTime":770.46,"body":"actually going to do this on my"},{"speaker":"Silvio Stroescu","startTime":767.16,"endTime":770.46,"body":"own in a self directed platform."},{"speaker":"Silvio Stroescu","startTime":770.46,"endTime":774.42,"body":"So that requires you to build a"},{"speaker":"Silvio Stroescu","startTime":770.46,"endTime":774.42,"body":"level of knowledge. And you ramp"},{"speaker":"Silvio Stroescu","startTime":774.42,"endTime":777.48,"body":"up with a learning curve. From"},{"speaker":"Silvio Stroescu","startTime":774.42,"endTime":777.48,"body":"that perspective, you have"},{"speaker":"Silvio Stroescu","startTime":777.48,"endTime":780.21,"body":"another segment of investors who"},{"speaker":"Silvio Stroescu","startTime":777.48,"endTime":780.21,"body":"again, we're delegating their"},{"speaker":"Silvio Stroescu","startTime":780.21,"endTime":782.97,"body":"investment decisions to an"},{"speaker":"Silvio Stroescu","startTime":780.21,"endTime":782.97,"body":"advisor, financial planner, now"},{"speaker":"Silvio Stroescu","startTime":782.97,"endTime":785.31,"body":"they're saying, I'm going to do"},{"speaker":"Silvio Stroescu","startTime":782.97,"endTime":785.31,"body":"this on my own. So they're"},{"speaker":"Silvio Stroescu","startTime":785.37,"endTime":789.42,"body":"technically leveling up, and"},{"speaker":"Silvio Stroescu","startTime":785.37,"endTime":789.42,"body":"also on a learning curve in that"},{"speaker":"Silvio Stroescu","startTime":789.42,"endTime":792.51,"body":"journey as well. And then you"},{"speaker":"Silvio Stroescu","startTime":789.42,"endTime":792.51,"body":"have people that had been"},{"speaker":"Silvio Stroescu","startTime":792.51,"endTime":795.69,"body":"trading on a self directed"},{"speaker":"Silvio Stroescu","startTime":792.51,"endTime":795.69,"body":"platform before, but maybe they"},{"speaker":"Silvio Stroescu","startTime":795.69,"endTime":798.81,"body":"had a cash account, let's call"},{"speaker":"Silvio Stroescu","startTime":795.69,"endTime":798.81,"body":"it a basic account, or RSP"},{"speaker":"Silvio Stroescu","startTime":798.81,"endTime":802.47,"body":"account or a TFSA. What they're"},{"speaker":"Silvio Stroescu","startTime":798.81,"endTime":802.47,"body":"saying now is, I want to do"},{"speaker":"Silvio Stroescu","startTime":802.47,"endTime":805.59,"body":"more, right, and they're opening"},{"speaker":"Silvio Stroescu","startTime":802.47,"endTime":805.59,"body":"up margin accounts. And they're"},{"speaker":"Silvio Stroescu","startTime":805.59,"endTime":808.92,"body":"they're building capabilities to"},{"speaker":"Silvio Stroescu","startTime":805.59,"endTime":808.92,"body":"to learn how to trade options."},{"speaker":"Silvio Stroescu","startTime":809.07,"endTime":811.38,"body":"So they're learning about that"},{"speaker":"Silvio Stroescu","startTime":809.07,"endTime":811.38,"body":"process as well. So this"},{"speaker":"Silvio Stroescu","startTime":811.41,"endTime":815.37,"body":"leveling up is actually"},{"speaker":"Silvio Stroescu","startTime":811.41,"endTime":815.37,"body":"happening on such a broad range"},{"speaker":"Silvio Stroescu","startTime":815.37,"endTime":819.42,"body":"of of investor segments, which"},{"speaker":"Silvio Stroescu","startTime":815.37,"endTime":819.42,"body":"naturally leads to, to calls"},{"speaker":"Silvio Stroescu","startTime":819.42,"endTime":821.61,"body":"into this, as you know, operate"},{"speaker":"Silvio Stroescu","startTime":819.42,"endTime":821.61,"body":"on these platforms, we don't"},{"speaker":"Silvio Stroescu","startTime":821.61,"endTime":825.15,"body":"provide advice. But when you go"},{"speaker":"Silvio Stroescu","startTime":821.61,"endTime":825.15,"body":"through a learning curve, you"},{"speaker":"Silvio Stroescu","startTime":825.18,"endTime":828.21,"body":"you want to you want to speak to"},{"speaker":"Silvio Stroescu","startTime":825.18,"endTime":828.21,"body":"human right to actually give you"},{"speaker":"Silvio Stroescu","startTime":828.21,"endTime":832.53,"body":"some validation and some comfort"},{"speaker":"Silvio Stroescu","startTime":828.21,"endTime":832.53,"body":"in that process as well. So I"},{"speaker":"Silvio Stroescu","startTime":832.53,"endTime":835.32,"body":"would I would sum it up with"},{"speaker":"Silvio Stroescu","startTime":832.53,"endTime":835.32,"body":"that as the core theme for why"},{"speaker":"Silvio Stroescu","startTime":835.32,"endTime":838.41,"body":"you're seeing, you know, the"},{"speaker":"Silvio Stroescu","startTime":835.32,"endTime":838.41,"body":"increase in calls, obviously,"},{"speaker":"Silvio Stroescu","startTime":838.41,"endTime":840.66,"body":"again, complemented the fact"},{"speaker":"Silvio Stroescu","startTime":838.41,"endTime":840.66,"body":"that you just got to share"},{"speaker":"Silvio Stroescu","startTime":840.66,"endTime":841.56,"body":"increase in demand."},{"speaker":"Preet Banerjee","startTime":842.13,"endTime":846.27,"body":"And and how many"},{"speaker":"Preet Banerjee","startTime":842.13,"endTime":846.27,"body":"customer service reps did you do"},{"speaker":"Preet Banerjee","startTime":846.27,"endTime":849.36,"body":"you have right now? What are the"},{"speaker":"Preet Banerjee","startTime":846.27,"endTime":849.36,"body":"plans to address these wait"},{"speaker":"Preet Banerjee","startTime":849.36,"endTime":852.42,"body":"times? Are you doing anything to"},{"speaker":"Preet Banerjee","startTime":849.36,"endTime":852.42,"body":"ramp up capacity?"},{"speaker":"Silvio Stroescu","startTime":853.17,"endTime":855.3,"body":"Yes, look, this"},{"speaker":"Silvio Stroescu","startTime":853.17,"endTime":855.3,"body":"is our top priority has been our"},{"speaker":"Silvio Stroescu","startTime":855.3,"endTime":858.21,"body":"top priority. So let me just go"},{"speaker":"Silvio Stroescu","startTime":855.3,"endTime":858.21,"body":"back to a question you asked"},{"speaker":"Silvio Stroescu","startTime":858.21,"endTime":860.4,"body":"earlier. And, you know, how long"},{"speaker":"Silvio Stroescu","startTime":858.21,"endTime":860.4,"body":"have the wait time has been an"},{"speaker":"Silvio Stroescu","startTime":860.4,"endTime":864.12,"body":"issue? When you look at the"},{"speaker":"Silvio Stroescu","startTime":860.4,"endTime":864.12,"body":"average for 2020 calendar year,"},{"speaker":"Silvio Stroescu","startTime":864.15,"endTime":868.11,"body":"our wait time average is 12"},{"speaker":"Silvio Stroescu","startTime":864.15,"endTime":868.11,"body":"minutes, right? So we've been"},{"speaker":"Silvio Stroescu","startTime":868.11,"endTime":870.72,"body":"hovering around 40 minutes"},{"speaker":"Silvio Stroescu","startTime":868.11,"endTime":870.72,"body":"average at the beginning of"},{"speaker":"Silvio Stroescu","startTime":870.72,"endTime":874.38,"body":"January. Just to put all that"},{"speaker":"Silvio Stroescu","startTime":870.72,"endTime":874.38,"body":"into perspective. This the last"},{"speaker":"Silvio Stroescu","startTime":874.38,"endTime":878.85,"body":"quarter of 2020 was when we"},{"speaker":"Silvio Stroescu","startTime":874.38,"endTime":878.85,"body":"started seeing more of this"},{"speaker":"Silvio Stroescu","startTime":878.85,"endTime":881.85,"body":"challenge coming through. So if"},{"speaker":"Silvio Stroescu","startTime":878.85,"endTime":881.85,"body":"you think about what it looked"},{"speaker":"Silvio Stroescu","startTime":881.85,"endTime":883.86,"body":"like for the first three"},{"speaker":"Silvio Stroescu","startTime":881.85,"endTime":883.86,"body":"quarters of the year, we average"},{"speaker":"Silvio Stroescu","startTime":883.86,"endTime":888.45,"body":"wait times in less than two"},{"speaker":"Silvio Stroescu","startTime":883.86,"endTime":888.45,"body":"minutes, one minute and in some"},{"speaker":"Silvio Stroescu","startTime":888.45,"endTime":892.8,"body":"cases as well. We had events"},{"speaker":"Silvio Stroescu","startTime":888.45,"endTime":892.8,"body":"like march for examples on event"},{"speaker":"Silvio Stroescu","startTime":892.8,"endTime":895.71,"body":"the third week of March where we"},{"speaker":"Silvio Stroescu","startTime":892.8,"endTime":895.71,"body":"all started working from home"},{"speaker":"Silvio Stroescu","startTime":895.71,"endTime":898.2,"body":"all of a sudden and things were"},{"speaker":"Silvio Stroescu","startTime":895.71,"endTime":898.2,"body":"happening in the market. You"},{"speaker":"Silvio Stroescu","startTime":898.2,"endTime":900.93,"body":"know that was that was a bit of"},{"speaker":"Silvio Stroescu","startTime":898.2,"endTime":900.93,"body":"a week. That was an anomaly, I'd"},{"speaker":"Silvio Stroescu","startTime":900.93,"endTime":903.99,"body":"say in the context of 2020, at"},{"speaker":"Silvio Stroescu","startTime":900.93,"endTime":903.99,"body":"least the first half of the"},{"speaker":"Silvio Stroescu","startTime":903.99,"endTime":909.06,"body":"year. We also had long wait"},{"speaker":"Silvio Stroescu","startTime":903.99,"endTime":909.06,"body":"time, in an event going back a"},{"speaker":"Silvio Stroescu","startTime":909.06,"endTime":911.91,"body":"couple years ago, when the"},{"speaker":"Silvio Stroescu","startTime":909.06,"endTime":911.91,"body":"cannabis sector was was getting"},{"speaker":"Silvio Stroescu","startTime":911.91,"endTime":914.22,"body":"prominence and trading and us"},{"speaker":"Silvio Stroescu","startTime":911.91,"endTime":914.22,"body":"that sector was gaining"},{"speaker":"Silvio Stroescu","startTime":914.22,"endTime":916.92,"body":"prominence. Right. So, but that"},{"speaker":"Silvio Stroescu","startTime":914.22,"endTime":916.92,"body":"was an event, it had a start"},{"speaker":"Silvio Stroescu","startTime":916.92,"endTime":920.4,"body":"date, and it had an end date."},{"speaker":"Silvio Stroescu","startTime":916.92,"endTime":920.4,"body":"Right, right. But beyond that, I"},{"speaker":"Silvio Stroescu","startTime":920.4,"endTime":922.41,"body":"mean, you're looking at an"},{"speaker":"Silvio Stroescu","startTime":920.4,"endTime":922.41,"body":"average of two, three minutes,"},{"speaker":"Silvio Stroescu","startTime":922.44,"endTime":924.99,"body":"wait times. Now, average means"},{"speaker":"Silvio Stroescu","startTime":922.44,"endTime":924.99,"body":"obviously longest call will be"},{"speaker":"Silvio Stroescu","startTime":924.99,"endTime":927.6,"body":"longer than that. And you have a"},{"speaker":"Silvio Stroescu","startTime":924.99,"endTime":927.6,"body":"big percentage of calls that are"},{"speaker":"Silvio Stroescu","startTime":927.6,"endTime":931.02,"body":"under that as well. That's"},{"speaker":"Silvio Stroescu","startTime":927.6,"endTime":931.02,"body":"that's where we stand. So it's,"},{"speaker":"Silvio Stroescu","startTime":931.23,"endTime":934.29,"body":"it's been a more pronounced"},{"speaker":"Silvio Stroescu","startTime":931.23,"endTime":934.29,"body":"challenge on the wait times"},{"speaker":"Silvio Stroescu","startTime":934.29,"endTime":938.64,"body":"front, especially November,"},{"speaker":"Silvio Stroescu","startTime":934.29,"endTime":938.64,"body":"December and kicking off the"},{"speaker":"Silvio Stroescu","startTime":938.64,"endTime":939.36,"body":"year in January."},{"speaker":"Preet Banerjee","startTime":939.81,"endTime":943.59,"body":"Now, you know,"},{"speaker":"Preet Banerjee","startTime":939.81,"endTime":943.59,"body":"when you are managing people's"},{"speaker":"Preet Banerjee","startTime":943.59,"endTime":945.51,"body":"accounts, there's a big"},{"speaker":"Preet Banerjee","startTime":943.59,"endTime":945.51,"body":"responsibility in terms of"},{"speaker":"Preet Banerjee","startTime":945.51,"endTime":949.56,"body":"security and the technology"},{"speaker":"Preet Banerjee","startTime":945.51,"endTime":949.56,"body":"infrastructure that you have. So"},{"speaker":"Preet Banerjee","startTime":949.98,"endTime":954.72,"body":"I imagine that your your call"},{"speaker":"Preet Banerjee","startTime":949.98,"endTime":954.72,"body":"service reps, were also sent"},{"speaker":"Preet Banerjee","startTime":954.72,"endTime":957.33,"body":"home to work from home in some"},{"speaker":"Preet Banerjee","startTime":954.72,"endTime":957.33,"body":"cases are not allowed to come"},{"speaker":"Preet Banerjee","startTime":957.33,"endTime":960.39,"body":"into they're normally where they"},{"speaker":"Preet Banerjee","startTime":957.33,"endTime":960.39,"body":"would work. So can you tell me"},{"speaker":"Preet Banerjee","startTime":960.42,"endTime":964.44,"body":"what that was? Like? Like, where"},{"speaker":"Preet Banerjee","startTime":960.42,"endTime":964.44,"body":"were the reps? Where are they"},{"speaker":"Preet Banerjee","startTime":964.44,"endTime":968.16,"body":"now? And how is that sort of"},{"speaker":"Preet Banerjee","startTime":964.44,"endTime":968.16,"body":"been a variable that needed to"},{"speaker":"Preet Banerjee","startTime":968.16,"endTime":969.03,"body":"be accounted for"},{"speaker":"Silvio Stroescu","startTime":969.569,"endTime":972.269,"body":"the bulk of"},{"speaker":"Silvio Stroescu","startTime":969.569,"endTime":972.269,"body":"that mobilization happen in"},{"speaker":"Silvio Stroescu","startTime":972.269,"endTime":975.539,"body":"March and April, right, and 100%"},{"speaker":"Silvio Stroescu","startTime":972.269,"endTime":975.539,"body":"of our agents were actually"},{"speaker":"Silvio Stroescu","startTime":975.539,"endTime":978.869,"body":"working from a physical"},{"speaker":"Silvio Stroescu","startTime":975.539,"endTime":978.869,"body":"location, physical contact"},{"speaker":"Silvio Stroescu","startTime":978.869,"endTime":982.259,"body":"center, one in Montreal, one in"},{"speaker":"Silvio Stroescu","startTime":978.869,"endTime":982.259,"body":"a couple in Toronto, and one in"},{"speaker":"Silvio Stroescu","startTime":982.259,"endTime":986.789,"body":"Mississauga, as well. And we've"},{"speaker":"Silvio Stroescu","startTime":982.259,"endTime":986.789,"body":"mobilized to have them work"},{"speaker":"Silvio Stroescu","startTime":986.789,"endTime":989.039,"body":"remote. First of all, we still"},{"speaker":"Silvio Stroescu","startTime":986.789,"endTime":989.039,"body":"had some folks work in the"},{"speaker":"Silvio Stroescu","startTime":989.039,"endTime":991.559,"body":"physical locations, as we do"},{"speaker":"Silvio Stroescu","startTime":989.039,"endTime":991.559,"body":"today. So we had to address the"},{"speaker":"Silvio Stroescu","startTime":991.559,"endTime":994.319,"body":"spacing just for health"},{"speaker":"Silvio Stroescu","startTime":991.559,"endTime":994.319,"body":"purposes, and making sure that"},{"speaker":"Silvio Stroescu","startTime":994.319,"endTime":997.379,"body":"we had the right distancing"},{"speaker":"Silvio Stroescu","startTime":994.319,"endTime":997.379,"body":"within our physical locations,"},{"speaker":"Silvio Stroescu","startTime":997.919,"endTime":1001.189,"body":"we have the capability now where"},{"speaker":"Silvio Stroescu","startTime":997.919,"endTime":1001.189,"body":"80% of our agents can work from"},{"speaker":"Silvio Stroescu","startTime":1001.189,"endTime":1003.829,"body":"home. So there's also a bit of"},{"speaker":"Silvio Stroescu","startTime":1001.189,"endTime":1003.829,"body":"rotation where some choose to"},{"speaker":"Silvio Stroescu","startTime":1003.829,"endTime":1006.139,"body":"work from home and a rotate and"},{"speaker":"Silvio Stroescu","startTime":1003.829,"endTime":1006.139,"body":"come into our front a physical"},{"speaker":"Silvio Stroescu","startTime":1006.139,"endTime":1010.189,"body":"location, you know, every now"},{"speaker":"Silvio Stroescu","startTime":1006.139,"endTime":1010.189,"body":"and then on a rotational basis."},{"speaker":"Silvio Stroescu","startTime":1010.639,"endTime":1015.439,"body":"That's where we are today, fully"},{"speaker":"Silvio Stroescu","startTime":1010.639,"endTime":1015.439,"body":"activated. And if you think"},{"speaker":"Silvio Stroescu","startTime":1015.439,"endTime":1019.189,"body":"about how fast that happened, a"},{"speaker":"Silvio Stroescu","startTime":1015.439,"endTime":1019.189,"body":"metabolic pace that that needed"},{"speaker":"Silvio Stroescu","startTime":1019.189,"endTime":1022.579,"body":"to happen in the first couple of"},{"speaker":"Silvio Stroescu","startTime":1019.189,"endTime":1022.579,"body":"months. You know, that's, I"},{"speaker":"Silvio Stroescu","startTime":1022.579,"endTime":1026.479,"body":"would say, We checked that box,"},{"speaker":"Silvio Stroescu","startTime":1022.579,"endTime":1026.479,"body":"primarily, right? So what we're"},{"speaker":"Silvio Stroescu","startTime":1026.479,"endTime":1029.599,"body":"facing now is not a matter of"},{"speaker":"Silvio Stroescu","startTime":1026.479,"endTime":1029.599,"body":"navigating how we mobilize"},{"speaker":"Silvio Stroescu","startTime":1029.629,"endTime":1033.589,"body":"remote work is just simply"},{"speaker":"Silvio Stroescu","startTime":1029.629,"endTime":1033.589,"body":"keeping up and catching up to"},{"speaker":"Silvio Stroescu","startTime":1033.619,"endTime":1038.209,"body":"the goalposts on demand that are"},{"speaker":"Silvio Stroescu","startTime":1033.619,"endTime":1038.209,"body":"moving. And look, the other"},{"speaker":"Silvio Stroescu","startTime":1038.239,"endTime":1041.959,"body":"question you asked was, what"},{"speaker":"Silvio Stroescu","startTime":1038.239,"endTime":1041.959,"body":"have we done right to to"},{"speaker":"Silvio Stroescu","startTime":1041.959,"endTime":1044.779,"body":"mobilize? And how do we ramp up"},{"speaker":"Silvio Stroescu","startTime":1041.959,"endTime":1044.779,"body":"the staffing? We started this"},{"speaker":"Silvio Stroescu","startTime":1044.779,"endTime":1049.399,"body":"back in the summer, right? So we"},{"speaker":"Silvio Stroescu","startTime":1044.779,"endTime":1049.399,"body":"said a couple of things we need"},{"speaker":"Silvio Stroescu","startTime":1049.399,"endTime":1052.399,"body":"to do. First of all, we need to"},{"speaker":"Silvio Stroescu","startTime":1049.399,"endTime":1052.399,"body":"wrap up our hiring. And we need"},{"speaker":"Silvio Stroescu","startTime":1052.399,"endTime":1056.629,"body":"to do more of more hire more"},{"speaker":"Silvio Stroescu","startTime":1052.399,"endTime":1056.629,"body":"people in the old process, which"},{"speaker":"Silvio Stroescu","startTime":1056.629,"endTime":1060.109,"body":"is, you know, hire, recruit,"},{"speaker":"Silvio Stroescu","startTime":1056.629,"endTime":1060.109,"body":"first hire train in physical"},{"speaker":"Silvio Stroescu","startTime":1060.109,"endTime":1064.699,"body":"locations and just do more of"},{"speaker":"Silvio Stroescu","startTime":1060.109,"endTime":1064.699,"body":"that. That the magnitude"},{"speaker":"Silvio Stroescu","startTime":1064.699,"endTime":1068.929,"body":"increase there is for four times"},{"speaker":"Silvio Stroescu","startTime":1064.699,"endTime":1068.929,"body":"like we quadrupled the size of"},{"speaker":"Silvio Stroescu","startTime":1068.929,"endTime":1073.939,"body":"new hires, from you know, this"},{"speaker":"Silvio Stroescu","startTime":1068.929,"endTime":1073.939,"body":"entire process, starting with"},{"speaker":"Silvio Stroescu","startTime":1073.939,"endTime":1077.029,"body":"recruitment, to hiring to"},{"speaker":"Silvio Stroescu","startTime":1073.939,"endTime":1077.029,"body":"training, which takes months,"},{"speaker":"Silvio Stroescu","startTime":1077.029,"endTime":1080.509,"body":"right. So think about that is up"},{"speaker":"Silvio Stroescu","startTime":1077.029,"endTime":1080.509,"body":"for x, again, an exponential"},{"speaker":"Silvio Stroescu","startTime":1080.509,"endTime":1083.719,"body":"increase in what we've done to"},{"speaker":"Silvio Stroescu","startTime":1080.509,"endTime":1083.719,"body":"improve capacity. The second"},{"speaker":"Silvio Stroescu","startTime":1083.719,"endTime":1085.849,"body":"thing we've done is looked"},{"speaker":"Silvio Stroescu","startTime":1083.719,"endTime":1085.849,"body":"across the business, not just"},{"speaker":"Silvio Stroescu","startTime":1085.849,"endTime":1088.549,"body":"our investment in business, but"},{"speaker":"Silvio Stroescu","startTime":1085.849,"endTime":1088.549,"body":"across the bank to say can we"},{"speaker":"Silvio Stroescu","startTime":1088.549,"endTime":1091.819,"body":"actually attract more talent to"},{"speaker":"Silvio Stroescu","startTime":1088.549,"endTime":1091.819,"body":"actually help with the capacity."},{"speaker":"Silvio Stroescu","startTime":1092.329,"endTime":1096.259,"body":"The last training class we had,"},{"speaker":"Silvio Stroescu","startTime":1092.329,"endTime":1096.259,"body":"the numbers increased seven"},{"speaker":"Silvio Stroescu","startTime":1096.259,"endTime":1098.989,"body":"times from what we would have"},{"speaker":"Silvio Stroescu","startTime":1096.259,"endTime":1098.989,"body":"typically had like this, the"},{"speaker":"Silvio Stroescu","startTime":1098.989,"endTime":1103.069,"body":"training class that is actually"},{"speaker":"Silvio Stroescu","startTime":1098.989,"endTime":1103.069,"body":"active right now. And we'll be"},{"speaker":"Silvio Stroescu","startTime":1103.099,"endTime":1105.409,"body":"on the floor answering calls and"},{"speaker":"Silvio Stroescu","startTime":1103.099,"endTime":1105.409,"body":"productive in the queues in a"},{"speaker":"Silvio Stroescu","startTime":1105.409,"endTime":1108.649,"body":"couple of weeks. It's it's seven"},{"speaker":"Silvio Stroescu","startTime":1105.409,"endTime":1108.649,"body":"times higher than what we had"},{"speaker":"Silvio Stroescu","startTime":1108.649,"endTime":1112.339,"body":"prior to, to see and to speak in"},{"speaker":"Silvio Stroescu","startTime":1108.649,"endTime":1112.339,"body":"demand. So we started this"},{"speaker":"Silvio Stroescu","startTime":1112.339,"endTime":1115.579,"body":"process pre back in the summer,"},{"speaker":"Silvio Stroescu","startTime":1112.339,"endTime":1115.579,"body":"we've been sprinting through the"},{"speaker":"Silvio Stroescu","startTime":1115.579,"endTime":1119.749,"body":"marathon to make sure that we we"},{"speaker":"Silvio Stroescu","startTime":1115.579,"endTime":1119.749,"body":"ramp up the capacity. And we've"},{"speaker":"Silvio Stroescu","startTime":1119.749,"endTime":1122.179,"body":"also done on the hiring front,"},{"speaker":"Silvio Stroescu","startTime":1119.749,"endTime":1122.179,"body":"we've actually changed how we"},{"speaker":"Silvio Stroescu","startTime":1122.179,"endTime":1124.669,"body":"hire right. So it's one thing to"},{"speaker":"Silvio Stroescu","startTime":1122.179,"endTime":1124.669,"body":"say we're going to do more of"},{"speaker":"Silvio Stroescu","startTime":1124.669,"endTime":1127.489,"body":"the same internal process. But"},{"speaker":"Silvio Stroescu","startTime":1124.669,"endTime":1127.489,"body":"we also activated what we refer"},{"speaker":"Silvio Stroescu","startTime":1127.489,"endTime":1132.289,"body":"to as Street to screen. And this"},{"speaker":"Silvio Stroescu","startTime":1127.489,"endTime":1132.289,"body":"is remote, remote recruitment,"},{"speaker":"Silvio Stroescu","startTime":1132.349,"endTime":1135.799,"body":"remote hiring, remote training,"},{"speaker":"Silvio Stroescu","startTime":1132.349,"endTime":1135.799,"body":"remote activation into the"},{"speaker":"Silvio Stroescu","startTime":1135.799,"endTime":1138.469,"body":"queue. So you don't have to set"},{"speaker":"Silvio Stroescu","startTime":1135.799,"endTime":1138.469,"body":"foot into context and it to be"},{"speaker":"Silvio Stroescu","startTime":1138.469,"endTime":1141.379,"body":"able to do that. That's a"},{"speaker":"Silvio Stroescu","startTime":1138.469,"endTime":1141.379,"body":"transformational process. And we"},{"speaker":"Silvio Stroescu","startTime":1141.379,"endTime":1144.979,"body":"had the first class as part of"},{"speaker":"Silvio Stroescu","startTime":1141.379,"endTime":1144.979,"body":"that new process actually"},{"speaker":"Silvio Stroescu","startTime":1144.979,"endTime":1147.739,"body":"started training at the"},{"speaker":"Silvio Stroescu","startTime":1144.979,"endTime":1147.739,"body":"beginning of January. So that's"},{"speaker":"Silvio Stroescu","startTime":1147.739,"endTime":1150.409,"body":"what we've done on the hiring"},{"speaker":"Silvio Stroescu","startTime":1147.739,"endTime":1150.409,"body":"front. And then he filled lobby"},{"speaker":"Silvio Stroescu","startTime":1150.409,"endTime":1154.369,"body":"one. One more comment on this."},{"speaker":"Silvio Stroescu","startTime":1150.409,"endTime":1154.369,"body":"We also looked at how do we"},{"speaker":"Silvio Stroescu","startTime":1154.369,"endTime":1157.399,"body":"contain and address more of this"},{"speaker":"Silvio Stroescu","startTime":1154.369,"endTime":1157.399,"body":"demand online on the platform,"},{"speaker":"Silvio Stroescu","startTime":1157.459,"endTime":1161.299,"body":"right? So we looked at all these"},{"speaker":"Silvio Stroescu","startTime":1157.459,"endTime":1161.299,"body":"micro journeys that led to a"},{"speaker":"Silvio Stroescu","startTime":1161.299,"endTime":1164.689,"body":"call. And we said we have to get"},{"speaker":"Silvio Stroescu","startTime":1161.299,"endTime":1164.689,"body":"better at improving that journey"},{"speaker":"Silvio Stroescu","startTime":1164.689,"endTime":1167.329,"body":"online, make it more intuitive,"},{"speaker":"Silvio Stroescu","startTime":1164.689,"endTime":1167.329,"body":"and also build awareness that it"},{"speaker":"Silvio Stroescu","startTime":1167.329,"endTime":1170.419,"body":"exists. All the efforts we've"},{"speaker":"Silvio Stroescu","startTime":1167.329,"endTime":1170.419,"body":"done on that front as well as"},{"speaker":"Silvio Stroescu","startTime":1170.419,"endTime":1173.329,"body":"simplifying some legacy process"},{"speaker":"Silvio Stroescu","startTime":1170.419,"endTime":1173.329,"body":"just to make it easier. Some"},{"speaker":"Silvio Stroescu","startTime":1173.329,"endTime":1175.369,"body":"things that we've done before we"},{"speaker":"Silvio Stroescu","startTime":1173.329,"endTime":1175.369,"body":"said, you know, there's little"},{"speaker":"Silvio Stroescu","startTime":1175.369,"endTime":1177.769,"body":"value in this and it's just an"},{"speaker":"Silvio Stroescu","startTime":1175.369,"endTime":1177.769,"body":"impediment for our clients to"},{"speaker":"Silvio Stroescu","startTime":1177.769,"endTime":1182.269,"body":"stop doing it. We measure our"},{"speaker":"Silvio Stroescu","startTime":1177.769,"endTime":1182.269,"body":"trades to call ratio, just as a"},{"speaker":"Silvio Stroescu","startTime":1182.269,"endTime":1184.729,"body":"measure of efficiency, the"},{"speaker":"Silvio Stroescu","startTime":1182.269,"endTime":1184.729,"body":"trades to call ratio has"},{"speaker":"Silvio Stroescu","startTime":1184.729,"endTime":1188.809,"body":"increased 65% as a result of us"},{"speaker":"Silvio Stroescu","startTime":1184.729,"endTime":1188.809,"body":"being able to contain more"},{"speaker":"Silvio Stroescu","startTime":1188.809,"endTime":1193.999,"body":"online. So we're, we're in we're"},{"speaker":"Silvio Stroescu","startTime":1188.809,"endTime":1193.999,"body":"on the right track. The reason"},{"speaker":"Silvio Stroescu","startTime":1193.999,"endTime":1197.989,"body":"why we still have a gap today is"},{"speaker":"Silvio Stroescu","startTime":1193.999,"endTime":1197.989,"body":"the impact from that exponential"},{"speaker":"Silvio Stroescu","startTime":1197.989,"endTime":1200.929,"body":"increase in demand has been"},{"speaker":"Silvio Stroescu","startTime":1197.989,"endTime":1200.929,"body":"imminent. Right, and once the"},{"speaker":"Silvio Stroescu","startTime":1200.929,"endTime":1204.799,"body":"goalposts move, you feel that"},{"speaker":"Silvio Stroescu","startTime":1200.929,"endTime":1204.799,"body":"very same day, the impact from"},{"speaker":"Silvio Stroescu","startTime":1204.799,"endTime":1207.649,"body":"our activities on capacity have"},{"speaker":"Silvio Stroescu","startTime":1204.799,"endTime":1207.649,"body":"a bit of a time lag, right,"},{"speaker":"Silvio Stroescu","startTime":1207.649,"endTime":1209.809,"body":"which you know, include"},{"speaker":"Silvio Stroescu","startTime":1207.649,"endTime":1209.809,"body":"especially on the hiring fraud,"},{"speaker":"Silvio Stroescu","startTime":1209.809,"endTime":1212.869,"body":"recruit, hire, train, and"},{"speaker":"Silvio Stroescu","startTime":1209.809,"endTime":1212.869,"body":"license, right, like that's,"},{"speaker":"Silvio Stroescu","startTime":1213.619,"endTime":1215.689,"body":"that's a nuance we shouldn't"},{"speaker":"Silvio Stroescu","startTime":1213.619,"endTime":1215.689,"body":"forget in the context of our"},{"speaker":"Silvio Stroescu","startTime":1215.689,"endTime":1218.899,"body":"agents. They also need to be"},{"speaker":"Silvio Stroescu","startTime":1215.689,"endTime":1218.899,"body":"licensed and build their"},{"speaker":"Silvio Stroescu","startTime":1218.929,"endTime":1220.369,"body":"proficiency requirements as"},{"speaker":"Silvio Stroescu","startTime":1218.929,"endTime":1220.369,"body":"well."},{"speaker":"Preet Banerjee","startTime":1220.399,"endTime":1221.599,"body":"Yeah, I was"},{"speaker":"Preet Banerjee","startTime":1220.399,"endTime":1221.599,"body":"gonna ask you, because so"},{"speaker":"Preet Banerjee","startTime":1221.599,"endTime":1225.139,"body":"investing online is oio. Right?"},{"speaker":"Preet Banerjee","startTime":1221.599,"endTime":1225.139,"body":"So it's no it's not advice. So"},{"speaker":"Preet Banerjee","startTime":1225.139,"endTime":1229.759,"body":"sorry, order execution only. And"},{"speaker":"Preet Banerjee","startTime":1225.139,"endTime":1229.759,"body":"so people who who create an"},{"speaker":"Preet Banerjee","startTime":1229.759,"endTime":1232.789,"body":"account there, they are"},{"speaker":"Preet Banerjee","startTime":1229.759,"endTime":1232.789,"body":"basically taking all"},{"speaker":"Preet Banerjee","startTime":1232.789,"endTime":1236.749,"body":"responsibility for the riskiness"},{"speaker":"Preet Banerjee","startTime":1232.789,"endTime":1236.749,"body":"of their trades, and you are"},{"speaker":"Preet Banerjee","startTime":1236.809,"endTime":1240.469,"body":"execution services only for"},{"speaker":"Preet Banerjee","startTime":1236.809,"endTime":1240.469,"body":"those platforms. So when it"},{"speaker":"Preet Banerjee","startTime":1240.469,"endTime":1242.989,"body":"comes to the licensing that's"},{"speaker":"Preet Banerjee","startTime":1240.469,"endTime":1242.989,"body":"required for these reps, what"},{"speaker":"Preet Banerjee","startTime":1242.989,"endTime":1245.149,"body":"what did they need to what"},{"speaker":"Preet Banerjee","startTime":1242.989,"endTime":1245.149,"body":"license do they need,"},{"speaker":"Silvio Stroescu","startTime":1245.87,"endTime":1248.24,"body":"what they need,"},{"speaker":"Silvio Stroescu","startTime":1245.87,"endTime":1248.24,"body":"they still need to be fully iraq"},{"speaker":"Silvio Stroescu","startTime":1248.24,"endTime":1251.45,"body":"licensed, so they don't provide"},{"speaker":"Silvio Stroescu","startTime":1248.24,"endTime":1251.45,"body":"advice, but they have to go"},{"speaker":"Silvio Stroescu","startTime":1251.45,"endTime":1253.37,"body":"through all the proficiency"},{"speaker":"Silvio Stroescu","startTime":1251.45,"endTime":1253.37,"body":"requirements, including the"},{"speaker":"Silvio Stroescu","startTime":1253.37,"endTime":1256.25,"body":"course on ethics, the Canadian"},{"speaker":"Silvio Stroescu","startTime":1253.37,"endTime":1256.25,"body":"securities course, which which"},{"speaker":"Silvio Stroescu","startTime":1256.25,"endTime":1259.7,"body":"has two parts to it, so they"},{"speaker":"Silvio Stroescu","startTime":1256.25,"endTime":1259.7,"body":"have to be fully fully licensed."},{"speaker":"Silvio Stroescu","startTime":1259.76,"endTime":1262.28,"body":"And if they're supporting trades"},{"speaker":"Silvio Stroescu","startTime":1259.76,"endTime":1262.28,"body":"and options, for example, they"},{"speaker":"Silvio Stroescu","startTime":1262.28,"endTime":1265.7,"body":"also have to have that licensing"},{"speaker":"Silvio Stroescu","startTime":1262.28,"endTime":1265.7,"body":"as well. So even though they"},{"speaker":"Silvio Stroescu","startTime":1265.7,"endTime":1268.88,"body":"don't provide advice, the"},{"speaker":"Silvio Stroescu","startTime":1265.7,"endTime":1268.88,"body":"proficiency requirements are"},{"speaker":"Silvio Stroescu","startTime":1268.88,"endTime":1269.51,"body":"full fledged."},{"speaker":"Preet Banerjee","startTime":1276.11,"endTime":1279.17,"body":"The conversation"},{"speaker":"Preet Banerjee","startTime":1276.11,"endTime":1279.17,"body":"with Silvio Stroescu continues"},{"speaker":"Preet Banerjee","startTime":1279.17,"endTime":1282.14,"body":"in a moment, but I wanted to"},{"speaker":"Preet Banerjee","startTime":1279.17,"endTime":1282.14,"body":"give a shout out to some"},{"speaker":"Preet Banerjee","startTime":1282.14,"endTime":1286.01,"body":"listeners who have left some"},{"speaker":"Preet Banerjee","startTime":1282.14,"endTime":1286.01,"body":"kind reviews for the show. Doug"},{"speaker":"Preet Banerjee","startTime":1286.04,"endTime":1292.94,"body":"M. 34. sg 183 60, Apollon seven"},{"speaker":"Preet Banerjee","startTime":1286.04,"endTime":1292.94,"body":"and Brent Goucher, thank you for"},{"speaker":"Preet Banerjee","startTime":1292.94,"endTime":1298.04,"body":"taking the time to leave ratings"},{"speaker":"Preet Banerjee","startTime":1292.94,"endTime":1298.04,"body":"and reviews on Apple podcasts. I"},{"speaker":"Preet Banerjee","startTime":1298.04,"endTime":1301.16,"body":"also wanted to let you know that"},{"speaker":"Preet Banerjee","startTime":1298.04,"endTime":1301.16,"body":"I just published a crash course"},{"speaker":"Preet Banerjee","startTime":1301.16,"endTime":1306.26,"body":"on what's really been happening"},{"speaker":"Preet Banerjee","startTime":1301.16,"endTime":1306.26,"body":"with GameStop. I'm sure you've"},{"speaker":"Preet Banerjee","startTime":1306.26,"endTime":1310.4,"body":"heard that name this past week."},{"speaker":"Preet Banerjee","startTime":1306.26,"endTime":1310.4,"body":"I know you have questions. Why"},{"speaker":"Preet Banerjee","startTime":1310.4,"endTime":1314.66,"body":"has a mall based retailer have"},{"speaker":"Preet Banerjee","startTime":1310.4,"endTime":1314.66,"body":"physical copies of video games?"},{"speaker":"Preet Banerjee","startTime":1314.9,"endTime":1319.31,"body":"Some would argue assume to die"},{"speaker":"Preet Banerjee","startTime":1314.9,"endTime":1319.31,"body":"business model. Given that you"},{"speaker":"Preet Banerjee","startTime":1319.31,"endTime":1323.36,"body":"can download copies of video"},{"speaker":"Preet Banerjee","startTime":1319.31,"endTime":1323.36,"body":"games in order console's online."},{"speaker":"Preet Banerjee","startTime":1323.78,"endTime":1328.25,"body":"Why they seen their share price"},{"speaker":"Preet Banerjee","startTime":1323.78,"endTime":1328.25,"body":"up as much as 10,000%. In just"},{"speaker":"Preet Banerjee","startTime":1328.25,"endTime":1331.91,"body":"one year, most of them in the"},{"speaker":"Preet Banerjee","startTime":1328.25,"endTime":1331.91,"body":"last month. What is a short"},{"speaker":"Preet Banerjee","startTime":1331.91,"endTime":1336.02,"body":"squeeze? What else is really"},{"speaker":"Preet Banerjee","startTime":1331.91,"endTime":1336.02,"body":"happening? So you can check that"},{"speaker":"Preet Banerjee","startTime":1336.02,"endTime":1339.83,"body":"out on YouTube. My main channel"},{"speaker":"Preet Banerjee","startTime":1336.02,"endTime":1339.83,"body":"can be found under my name,"},{"speaker":"Preet Banerjee","startTime":1339.98,"endTime":1345.77,"body":"Preet Banerjee. And before we"},{"speaker":"Preet Banerjee","startTime":1339.98,"endTime":1345.77,"body":"get back to Silvio, if you are"},{"speaker":"Preet Banerjee","startTime":1345.77,"endTime":1349.31,"body":"enjoying the content on this"},{"speaker":"Preet Banerjee","startTime":1345.77,"endTime":1349.31,"body":"podcast, I really do appreciate"},{"speaker":"Preet Banerjee","startTime":1349.31,"endTime":1352.1,"body":"it when you take the time to"},{"speaker":"Preet Banerjee","startTime":1349.31,"endTime":1352.1,"body":"leave a rating and review"},{"speaker":"Preet Banerjee","startTime":1352.37,"endTime":1356.9,"body":"wherever you get your podcasts."},{"speaker":"Preet Banerjee","startTime":1352.37,"endTime":1356.9,"body":"And I don't run ads on the"},{"speaker":"Preet Banerjee","startTime":1356.9,"endTime":1359.87,"body":"podcast yet, but that might"},{"speaker":"Preet Banerjee","startTime":1356.9,"endTime":1359.87,"body":"change in the future. And in the"},{"speaker":"Preet Banerjee","startTime":1359.87,"endTime":1362.21,"body":"meantime, I guess I'll provide"},{"speaker":"Preet Banerjee","startTime":1359.87,"endTime":1362.21,"body":"some kind of placeholder and"},{"speaker":"Preet Banerjee","startTime":1363.08,"endTime":1365.21,"body":"kind of do some public service"},{"speaker":"Preet Banerjee","startTime":1363.08,"endTime":1365.21,"body":"announcements or something like"},{"speaker":"Preet Banerjee","startTime":1365.21,"endTime":1369.26,"body":"that, again, just as a"},{"speaker":"Preet Banerjee","startTime":1365.21,"endTime":1369.26,"body":"placeholder, so I don't know."},{"speaker":"Preet Banerjee","startTime":1370.34,"endTime":1373.34,"body":"Get your prostate checked or"},{"speaker":"Preet Banerjee","startTime":1370.34,"endTime":1373.34,"body":"something. Anyways, back to my"},{"speaker":"Preet Banerjee","startTime":1373.34,"endTime":1377.21,"body":"conversation with the president"},{"speaker":"Preet Banerjee","startTime":1373.34,"endTime":1377.21,"body":"of BMO investor line, Silvio"},{"speaker":"Preet Banerjee","startTime":1377.24,"endTime":1377.78,"body":"Stroescu."},{"speaker":"Preet Banerjee","startTime":1383.63,"endTime":1386.54,"body":"Now, I want to just pull from"},{"speaker":"Preet Banerjee","startTime":1383.63,"endTime":1386.54,"body":"the headlines. So I'm sure"},{"speaker":"Preet Banerjee","startTime":1386.54,"endTime":1390.17,"body":"you're familiar with GameStop."},{"speaker":"Preet Banerjee","startTime":1386.54,"endTime":1390.17,"body":"And the gamma squeezed that"},{"speaker":"Preet Banerjee","startTime":1390.86,"endTime":1393.83,"body":"almost bankrupted? I think, one"},{"speaker":"Preet Banerjee","startTime":1390.86,"endTime":1393.83,"body":"hedge fund I think it was Melvin"},{"speaker":"Preet Banerjee","startTime":1393.83,"endTime":1396.92,"body":"capital had to get bailed out by"},{"speaker":"Preet Banerjee","startTime":1393.83,"endTime":1396.92,"body":"some other hedge funds. Because"},{"speaker":"Preet Banerjee","startTime":1397.37,"endTime":1399.53,"body":"basically, I don't know if"},{"speaker":"Preet Banerjee","startTime":1397.37,"endTime":1399.53,"body":"you're familiar with the"},{"speaker":"Preet Banerjee","startTime":1399.53,"endTime":1403.46,"body":"redditors. On this, this Reddit"},{"speaker":"Preet Banerjee","startTime":1399.53,"endTime":1403.46,"body":"called Wall Street bets, have"},{"speaker":"Preet Banerjee","startTime":1403.46,"endTime":1408.86,"body":"pushed up the price of GameStop."},{"speaker":"Preet Banerjee","startTime":1403.46,"endTime":1408.86,"body":"so high that it's it's forced a"},{"speaker":"Preet Banerjee","startTime":1408.86,"endTime":1411.65,"body":"short covering, and it's it's"},{"speaker":"Preet Banerjee","startTime":1408.86,"endTime":1411.65,"body":"kind of embarrassed, like these"},{"speaker":"Preet Banerjee","startTime":1411.65,"endTime":1415.52,"body":"professional, you know, money"},{"speaker":"Preet Banerjee","startTime":1411.65,"endTime":1415.52,"body":"managers. It's kind of funny to"},{"speaker":"Preet Banerjee","startTime":1415.52,"endTime":1418.34,"body":"watch. But there's so many"},{"speaker":"Preet Banerjee","startTime":1415.52,"endTime":1418.34,"body":"people who are subscribed to"},{"speaker":"Preet Banerjee","startTime":1418.34,"endTime":1420.98,"body":"that, that Reddit there, I think"},{"speaker":"Preet Banerjee","startTime":1418.34,"endTime":1420.98,"body":"there's like 2 million active"},{"speaker":"Preet Banerjee","startTime":1420.98,"endTime":1424.67,"body":"users or something like that."},{"speaker":"Preet Banerjee","startTime":1420.98,"endTime":1424.67,"body":"And they are driving the the"},{"speaker":"Preet Banerjee","startTime":1424.7,"endTime":1427.88,"body":"market price for, you know, the"},{"speaker":"Preet Banerjee","startTime":1424.7,"endTime":1427.88,"body":"security and some other ones."},{"speaker":"Preet Banerjee","startTime":1428.18,"endTime":1434.27,"body":"And so, when someone calls in"},{"speaker":"Preet Banerjee","startTime":1428.18,"endTime":1434.27,"body":"and do they, what's the training"},{"speaker":"Preet Banerjee","startTime":1434.27,"endTime":1437.87,"body":"around getting a call that says,"},{"speaker":"Preet Banerjee","startTime":1434.27,"endTime":1437.87,"body":"hey, I want to buy GameStop, I"},{"speaker":"Preet Banerjee","startTime":1437.87,"endTime":1441.74,"body":"want to buy call options? Should"},{"speaker":"Preet Banerjee","startTime":1437.87,"endTime":1441.74,"body":"I do that? Like, I'm assuming"},{"speaker":"Preet Banerjee","startTime":1441.74,"endTime":1445.37,"body":"they get asked, you know, hey,"},{"speaker":"Preet Banerjee","startTime":1441.74,"endTime":1445.37,"body":"do you think this is a good"},{"speaker":"Preet Banerjee","startTime":1445.37,"endTime":1448.88,"body":"idea? What's the training around"},{"speaker":"Preet Banerjee","startTime":1445.37,"endTime":1448.88,"body":"that for an order execution only"},{"speaker":"Preet Banerjee","startTime":1448.88,"endTime":1449.48,"body":"platform?"},{"speaker":"Silvio Stroescu","startTime":1449.84,"endTime":1451.85,"body":"Well, look,"},{"speaker":"Silvio Stroescu","startTime":1449.84,"endTime":1451.85,"body":"you're you're not diving deeper"},{"speaker":"Silvio Stroescu","startTime":1451.85,"endTime":1454.19,"body":"into the, you know, whether you"},{"speaker":"Silvio Stroescu","startTime":1451.85,"endTime":1454.19,"body":"should or shouldn't, right, but"},{"speaker":"Silvio Stroescu","startTime":1454.19,"endTime":1457.4,"body":"what we do is we say, you know,"},{"speaker":"Silvio Stroescu","startTime":1454.19,"endTime":1457.4,"body":"we grounded in principles,"},{"speaker":"Silvio Stroescu","startTime":1457.4,"endTime":1460.49,"body":"right? So, you know, typically"},{"speaker":"Silvio Stroescu","startTime":1457.4,"endTime":1460.49,"body":"would say like, Alright, so how"},{"speaker":"Silvio Stroescu","startTime":1460.49,"endTime":1462.65,"body":"does that fit? You know, does"},{"speaker":"Silvio Stroescu","startTime":1460.49,"endTime":1462.65,"body":"that fit with your plans? Like"},{"speaker":"Silvio Stroescu","startTime":1462.65,"endTime":1464.81,"body":"we don't even get into how does"},{"speaker":"Silvio Stroescu","startTime":1462.65,"endTime":1464.81,"body":"that fit with your plans? And if"},{"speaker":"Silvio Stroescu","startTime":1464.81,"endTime":1467.33,"body":"you think, you know, if it fits"},{"speaker":"Silvio Stroescu","startTime":1464.81,"endTime":1467.33,"body":"with your plans, and you've got"},{"speaker":"Silvio Stroescu","startTime":1467.33,"endTime":1469.82,"body":"a deliberate reason for it,"},{"speaker":"Silvio Stroescu","startTime":1467.33,"endTime":1469.82,"body":"then, you know, it's your"},{"speaker":"Silvio Stroescu","startTime":1469.82,"endTime":1472.16,"body":"decision, right? So we don't get"},{"speaker":"Silvio Stroescu","startTime":1469.82,"endTime":1472.16,"body":"into the advice on whether you"},{"speaker":"Silvio Stroescu","startTime":1472.16,"endTime":1475.97,"body":"should do it, you know, should"},{"speaker":"Silvio Stroescu","startTime":1472.16,"endTime":1475.97,"body":"do it. We do feel the effect of"},{"speaker":"Silvio Stroescu","startTime":1475.97,"endTime":1477.92,"body":"it, right? So you do see an"},{"speaker":"Silvio Stroescu","startTime":1475.97,"endTime":1477.92,"body":"increase, you know, slight"},{"speaker":"Silvio Stroescu","startTime":1477.92,"endTime":1481.01,"body":"increase in volume as well and"},{"speaker":"Silvio Stroescu","startTime":1477.92,"endTime":1481.01,"body":"those things do happen. But the"},{"speaker":"Silvio Stroescu","startTime":1481.01,"endTime":1484.94,"body":"extent of it is just to make"},{"speaker":"Silvio Stroescu","startTime":1481.01,"endTime":1484.94,"body":"sure that we just help"},{"speaker":"Silvio Stroescu","startTime":1484.97,"endTime":1488.09,"body":"groundings in some principles,"},{"speaker":"Silvio Stroescu","startTime":1484.97,"endTime":1488.09,"body":"right, as opposed to telling you"},{"speaker":"Silvio Stroescu","startTime":1488.09,"endTime":1490.43,"body":"whether or not he should do it"},{"speaker":"Silvio Stroescu","startTime":1488.09,"endTime":1490.43,"body":"or whether it makes sense for"},{"speaker":"Silvio Stroescu","startTime":1490.43,"endTime":1490.61,"body":"him."},{"speaker":"Preet Banerjee","startTime":1491.12,"endTime":1493.94,"body":"Yeah. Last thing"},{"speaker":"Preet Banerjee","startTime":1491.12,"endTime":1493.94,"body":"on this, this overall issue"},{"speaker":"Preet Banerjee","startTime":1493.94,"endTime":1497.12,"body":"about capacity. So you've you've"},{"speaker":"Preet Banerjee","startTime":1493.94,"endTime":1497.12,"body":"you mentioned that one class is"},{"speaker":"Preet Banerjee","startTime":1497.12,"endTime":1499.76,"body":"seven times the normal intake"},{"speaker":"Preet Banerjee","startTime":1497.12,"endTime":1499.76,"body":"for people that you're training"},{"speaker":"Preet Banerjee","startTime":1499.76,"endTime":1502.88,"body":"for this positions. Now, do you"},{"speaker":"Preet Banerjee","startTime":1499.76,"endTime":1502.88,"body":"have a sense as to whether or"},{"speaker":"Preet Banerjee","startTime":1502.88,"endTime":1507.32,"body":"not this demand is going to be"},{"speaker":"Preet Banerjee","startTime":1502.88,"endTime":1507.32,"body":"temporary? Or do you feel that"},{"speaker":"Preet Banerjee","startTime":1507.32,"endTime":1510.17,"body":"there's going to be a sustained"},{"speaker":"Preet Banerjee","startTime":1507.32,"endTime":1510.17,"body":"level for this type of trading"},{"speaker":"Preet Banerjee","startTime":1510.17,"endTime":1510.8,"body":"activity?"},{"speaker":"Silvio Stroescu","startTime":1511.969,"endTime":1514.129,"body":"I believe that"},{"speaker":"Silvio Stroescu","startTime":1511.969,"endTime":1514.129,"body":"it's, you know, what we're"},{"speaker":"Silvio Stroescu","startTime":1514.129,"endTime":1516.709,"body":"seeing is not an event, right."},{"speaker":"Silvio Stroescu","startTime":1514.129,"endTime":1516.709,"body":"And I made reference earlier to"},{"speaker":"Silvio Stroescu","startTime":1516.709,"endTime":1519.739,"body":"cannabis and I talked about"},{"speaker":"Silvio Stroescu","startTime":1516.709,"endTime":1519.739,"body":"that, as an event, I get started"},{"speaker":"Silvio Stroescu","startTime":1519.739,"endTime":1523.039,"body":"on x date, and it kind of, you"},{"speaker":"Silvio Stroescu","startTime":1519.739,"endTime":1523.039,"body":"know, sizzled off on on this y"},{"speaker":"Silvio Stroescu","startTime":1523.039,"endTime":1525.829,"body":"date, right? That's not what"},{"speaker":"Silvio Stroescu","startTime":1523.039,"endTime":1525.829,"body":"we're seeing here. We're not"},{"speaker":"Silvio Stroescu","startTime":1525.829,"endTime":1529.249,"body":"seeing an event, we were seeing"},{"speaker":"Silvio Stroescu","startTime":1525.829,"endTime":1529.249,"body":"an acceleration of adoption. And"},{"speaker":"Silvio Stroescu","startTime":1529.279,"endTime":1532.459,"body":"to me, this is an inflection"},{"speaker":"Silvio Stroescu","startTime":1529.279,"endTime":1532.459,"body":"point in that adoption of"},{"speaker":"Silvio Stroescu","startTime":1532.459,"endTime":1537.379,"body":"digital investing breed. So"},{"speaker":"Silvio Stroescu","startTime":1532.459,"endTime":1537.379,"body":"that's, that that's our view for"},{"speaker":"Silvio Stroescu","startTime":1537.379,"endTime":1540.439,"body":"it. Now, I don't believe we're"},{"speaker":"Silvio Stroescu","startTime":1537.379,"endTime":1540.439,"body":"going to see to you know,"},{"speaker":"Silvio Stroescu","startTime":1540.439,"endTime":1542.929,"body":"trading volume for January"},{"speaker":"Silvio Stroescu","startTime":1540.439,"endTime":1542.929,"body":"become the norm, right. I mean,"},{"speaker":"Silvio Stroescu","startTime":1542.929,"endTime":1545.449,"body":"right now, again, we just had a"},{"speaker":"Silvio Stroescu","startTime":1542.929,"endTime":1545.449,"body":"new record. 30%, higher, right."},{"speaker":"Silvio Stroescu","startTime":1545.449,"endTime":1547.849,"body":"So I don't think this will be"},{"speaker":"Silvio Stroescu","startTime":1545.449,"endTime":1547.849,"body":"the norm. But if you think about"},{"speaker":"Silvio Stroescu","startTime":1548.089,"endTime":1550.699,"body":"where we were in the previous"},{"speaker":"Silvio Stroescu","startTime":1548.089,"endTime":1550.699,"body":"peaks, and what I referenced"},{"speaker":"Silvio Stroescu","startTime":1550.699,"endTime":1554.419,"body":"around RSP, season, and December"},{"speaker":"Silvio Stroescu","startTime":1550.699,"endTime":1554.419,"body":"just blew out of the water, that"},{"speaker":"Silvio Stroescu","startTime":1554.449,"endTime":1557.569,"body":"new reality, the new norm will"},{"speaker":"Silvio Stroescu","startTime":1554.449,"endTime":1557.569,"body":"actually be higher than the"},{"speaker":"Silvio Stroescu","startTime":1557.569,"endTime":1560.389,"body":"previous peaks. That's that's"},{"speaker":"Silvio Stroescu","startTime":1557.569,"endTime":1560.389,"body":"where I see this landing up. So"},{"speaker":"Silvio Stroescu","startTime":1560.389,"endTime":1563.029,"body":"it's somewhere between the"},{"speaker":"Silvio Stroescu","startTime":1560.389,"endTime":1563.029,"body":"previous records as far as"},{"speaker":"Silvio Stroescu","startTime":1563.179,"endTime":1567.619,"body":"monthly trading activity, and"},{"speaker":"Silvio Stroescu","startTime":1563.179,"endTime":1567.619,"body":"slightly below the the peaks"},{"speaker":"Silvio Stroescu","startTime":1567.619,"endTime":1569.719,"body":"that we're seeing. And I'd"},{"speaker":"Silvio Stroescu","startTime":1567.619,"endTime":1569.719,"body":"argue, and I expect what we're"},{"speaker":"Silvio Stroescu","startTime":1569.719,"endTime":1571.669,"body":"seeing in January and February"},{"speaker":"Silvio Stroescu","startTime":1569.719,"endTime":1571.669,"body":"will actually be our peaks,"},{"speaker":"Silvio Stroescu","startTime":1571.669,"endTime":1575.989,"body":"right? And that will level off."},{"speaker":"Silvio Stroescu","startTime":1571.669,"endTime":1575.989,"body":"beyond that. And the main reason"},{"speaker":"Silvio Stroescu","startTime":1576.289,"endTime":1580.549,"body":"for that, and just informing"},{"speaker":"Silvio Stroescu","startTime":1576.289,"endTime":1580.549,"body":"that perspective is, during the"},{"speaker":"Silvio Stroescu","startTime":1580.579,"endTime":1583.639,"body":"the cannabis sector trading"},{"speaker":"Silvio Stroescu","startTime":1580.579,"endTime":1583.639,"body":"event, right, you didn't see as"},{"speaker":"Silvio Stroescu","startTime":1583.639,"endTime":1586.129,"body":"many new clients join the"},{"speaker":"Silvio Stroescu","startTime":1583.639,"endTime":1586.129,"body":"platform, right. And if there"},{"speaker":"Silvio Stroescu","startTime":1586.129,"endTime":1589.099,"body":"was a blip, and there was, it"},{"speaker":"Silvio Stroescu","startTime":1586.129,"endTime":1589.099,"body":"wasn't as sustained right now"},{"speaker":"Silvio Stroescu","startTime":1589.099,"endTime":1591.379,"body":"we're seeing this like two and a"},{"speaker":"Silvio Stroescu","startTime":1589.099,"endTime":1591.379,"body":"half times increase in new"},{"speaker":"Silvio Stroescu","startTime":1591.379,"endTime":1594.079,"body":"client during the platform. And"},{"speaker":"Silvio Stroescu","startTime":1591.379,"endTime":1594.079,"body":"it's been happening, right and"},{"speaker":"Silvio Stroescu","startTime":1594.079,"endTime":1599.089,"body":"continues to happen. And it"},{"speaker":"Silvio Stroescu","startTime":1594.079,"endTime":1599.089,"body":"continues to grow. So primarily"},{"speaker":"Silvio Stroescu","startTime":1599.089,"endTime":1601.909,"body":"based on that, and the sentiment"},{"speaker":"Silvio Stroescu","startTime":1599.089,"endTime":1601.909,"body":"and and frankly, just some other"},{"speaker":"Silvio Stroescu","startTime":1601.939,"endTime":1606.679,"body":"macro elements around all of us"},{"speaker":"Silvio Stroescu","startTime":1601.939,"endTime":1606.679,"body":"have lived digitally for 910"},{"speaker":"Silvio Stroescu","startTime":1606.679,"endTime":1610.069,"body":"months now. Right? And we likely"},{"speaker":"Silvio Stroescu","startTime":1606.679,"endTime":1610.069,"body":"wolfer after a few more months,"},{"speaker":"Silvio Stroescu","startTime":1610.069,"endTime":1610.459,"body":"right? So"},{"speaker":"Preet Banerjee","startTime":1610.46,"endTime":1612.56,"body":"has it only been"},{"speaker":"Preet Banerjee","startTime":1610.46,"endTime":1612.56,"body":"nine or 10 months, it feels like"},{"speaker":"Preet Banerjee","startTime":1612.68,"endTime":1613.31,"body":"forever."},{"speaker":"Silvio Stroescu","startTime":1613.79,"endTime":1616.4,"body":"It's just"},{"speaker":"Silvio Stroescu","startTime":1613.79,"endTime":1616.4,"body":"reset, right? how we live our"},{"speaker":"Silvio Stroescu","startTime":1616.4,"endTime":1619.46,"body":"lives and how we do things."},{"speaker":"Silvio Stroescu","startTime":1616.4,"endTime":1619.46,"body":"Right. So to me, this is this is"},{"speaker":"Silvio Stroescu","startTime":1619.49,"endTime":1621.41,"body":"sustainable beyond what we're"},{"speaker":"Silvio Stroescu","startTime":1619.49,"endTime":1621.41,"body":"seeing."},{"speaker":"Preet Banerjee","startTime":1621.8,"endTime":1624.29,"body":"Right now, there"},{"speaker":"Preet Banerjee","startTime":1621.8,"endTime":1624.29,"body":"have been other sort of"},{"speaker":"Preet Banerjee","startTime":1624.29,"endTime":1626.9,"body":"investment stories that have"},{"speaker":"Preet Banerjee","startTime":1624.29,"endTime":1626.9,"body":"been catching the eyes of"},{"speaker":"Preet Banerjee","startTime":1626.9,"endTime":1633.02,"body":"investors and headline writers."},{"speaker":"Preet Banerjee","startTime":1626.9,"endTime":1633.02,"body":"Certainly with GameStop. We also"},{"speaker":"Preet Banerjee","startTime":1633.02,"endTime":1638.57,"body":"saw Bitcoin had another run up"},{"speaker":"Preet Banerjee","startTime":1633.02,"endTime":1638.57,"body":"and a bit of a drop as well. And"},{"speaker":"Preet Banerjee","startTime":1638.57,"endTime":1643.61,"body":"so when people have the ability"},{"speaker":"Preet Banerjee","startTime":1638.57,"endTime":1643.61,"body":"to access, you know, the markets"},{"speaker":"Preet Banerjee","startTime":1643.67,"endTime":1647.3,"body":"much more easily than they ever"},{"speaker":"Preet Banerjee","startTime":1643.67,"endTime":1647.3,"body":"had before, there are some risks"},{"speaker":"Preet Banerjee","startTime":1647.3,"endTime":1650.93,"body":"that people can do real damage"},{"speaker":"Preet Banerjee","startTime":1647.3,"endTime":1650.93,"body":"to their own portfolios. What"},{"speaker":"Preet Banerjee","startTime":1650.93,"endTime":1654.2,"body":"are your thoughts or plans on?"},{"speaker":"Preet Banerjee","startTime":1650.93,"endTime":1654.2,"body":"How do you address that? Because"},{"speaker":"Preet Banerjee","startTime":1654.2,"endTime":1656.36,"body":"certainly, there are going to be"},{"speaker":"Preet Banerjee","startTime":1654.2,"endTime":1656.36,"body":"some people who are just not"},{"speaker":"Preet Banerjee","startTime":1656.36,"endTime":1658.79,"body":"going to listen to advice,"},{"speaker":"Preet Banerjee","startTime":1656.36,"endTime":1658.79,"body":"they're going to listen to a"},{"speaker":"Preet Banerjee","startTime":1658.79,"endTime":1662.06,"body":"forum, or they're going to read"},{"speaker":"Preet Banerjee","startTime":1658.79,"endTime":1662.06,"body":"the, you know, their take some"},{"speaker":"Preet Banerjee","startTime":1662.06,"endTime":1665.06,"body":"kind of trading course and you"},{"speaker":"Preet Banerjee","startTime":1662.06,"endTime":1665.06,"body":"know, they're fine, they're big,"},{"speaker":"Preet Banerjee","startTime":1665.21,"endTime":1667.64,"body":"they're adults, they could do"},{"speaker":"Preet Banerjee","startTime":1665.21,"endTime":1667.64,"body":"that. But there are some people"},{"speaker":"Preet Banerjee","startTime":1667.64,"endTime":1670.61,"body":"are gonna say, Okay, I got"},{"speaker":"Preet Banerjee","startTime":1667.64,"endTime":1670.61,"body":"interested because of this"},{"speaker":"Preet Banerjee","startTime":1670.61,"endTime":1674.42,"body":"headline in Bitcoin or GameStop,"},{"speaker":"Preet Banerjee","startTime":1670.61,"endTime":1674.42,"body":"or people have been making a lot"},{"speaker":"Preet Banerjee","startTime":1674.42,"endTime":1677.0,"body":"of money even though the economy"},{"speaker":"Preet Banerjee","startTime":1674.42,"endTime":1677.0,"body":"doesn't seem to reflect that."},{"speaker":"Preet Banerjee","startTime":1677.27,"endTime":1679.91,"body":"And they're now interested"},{"speaker":"Preet Banerjee","startTime":1677.27,"endTime":1679.91,"body":"enough to say, Okay, I want to"},{"speaker":"Preet Banerjee","startTime":1679.91,"endTime":1681.92,"body":"open up an account, I want to"},{"speaker":"Preet Banerjee","startTime":1679.91,"endTime":1681.92,"body":"empower myself a little bit"},{"speaker":"Preet Banerjee","startTime":1681.92,"endTime":1687.62,"body":"more. What can you do at a self"},{"speaker":"Preet Banerjee","startTime":1681.92,"endTime":1687.62,"body":"directed brokerage, to help"},{"speaker":"Preet Banerjee","startTime":1687.62,"endTime":1691.76,"body":"guide people who may be in need"},{"speaker":"Preet Banerjee","startTime":1687.62,"endTime":1691.76,"body":"of some help, but for whatever"},{"speaker":"Preet Banerjee","startTime":1691.76,"endTime":1694.31,"body":"reason, they're just not going"},{"speaker":"Preet Banerjee","startTime":1691.76,"endTime":1694.31,"body":"to go full service? They still"},{"speaker":"Preet Banerjee","startTime":1694.31,"endTime":1696.47,"body":"want to do it themselves. But"},{"speaker":"Preet Banerjee","startTime":1694.31,"endTime":1696.47,"body":"what what are their options? I"},{"speaker":"Preet Banerjee","startTime":1696.47,"endTime":1700.64,"body":"know that there are some guided"},{"speaker":"Preet Banerjee","startTime":1696.47,"endTime":1700.64,"body":"portfolios, all in one ETF"},{"speaker":"Preet Banerjee","startTime":1700.64,"endTime":1703.76,"body":"tickets, solutions, what have"},{"speaker":"Preet Banerjee","startTime":1700.64,"endTime":1703.76,"body":"you, what do you recommend to"},{"speaker":"Preet Banerjee","startTime":1703.76,"endTime":1707.6,"body":"people who are coming, but they"},{"speaker":"Preet Banerjee","startTime":1703.76,"endTime":1707.6,"body":"need just a little bit more than"},{"speaker":"Preet Banerjee","startTime":1707.6,"endTime":1711.83,"body":"just, you know, no advice? What"},{"speaker":"Preet Banerjee","startTime":1707.6,"endTime":1711.83,"body":"are the options? So first, look,"},{"speaker":"Preet Banerjee","startTime":1712.04,"endTime":1712.73,"body":"it's just,"},{"speaker":"Silvio Stroescu","startTime":1713.42,"endTime":1715.67,"body":"I would phrase"},{"speaker":"Silvio Stroescu","startTime":1713.42,"endTime":1715.67,"body":"it as grounded in Northstar,"},{"speaker":"Silvio Stroescu","startTime":1715.7,"endTime":1717.89,"body":"right, like so first of all,"},{"speaker":"Silvio Stroescu","startTime":1715.7,"endTime":1717.89,"body":"articulate what your Northstar"},{"speaker":"Silvio Stroescu","startTime":1717.89,"endTime":1720.17,"body":"is. And I use grounding, in"},{"speaker":"Silvio Stroescu","startTime":1717.89,"endTime":1720.17,"body":"Northstar deliberately, right,"},{"speaker":"Silvio Stroescu","startTime":1720.17,"endTime":1722.42,"body":"so understand why you're doing"},{"speaker":"Silvio Stroescu","startTime":1720.17,"endTime":1722.42,"body":"this in the first place. Right?"},{"speaker":"Silvio Stroescu","startTime":1722.42,"endTime":1726.71,"body":"I you know, and it goes back to"},{"speaker":"Silvio Stroescu","startTime":1722.42,"endTime":1726.71,"body":"having a deliberate perspective"},{"speaker":"Silvio Stroescu","startTime":1726.71,"endTime":1728.99,"body":"on you know, why you're joining"},{"speaker":"Silvio Stroescu","startTime":1726.71,"endTime":1728.99,"body":"the platform, why you're"},{"speaker":"Silvio Stroescu","startTime":1728.99,"endTime":1732.05,"body":"investing in the first place,"},{"speaker":"Silvio Stroescu","startTime":1728.99,"endTime":1732.05,"body":"and in many cases, and I suggest"},{"speaker":"Silvio Stroescu","startTime":1732.05,"endTime":1734.18,"body":"even writing it down and"},{"speaker":"Silvio Stroescu","startTime":1732.05,"endTime":1734.18,"body":"conversations that I have with"},{"speaker":"Silvio Stroescu","startTime":1734.18,"endTime":1736.7,"body":"my friends, as well as, hey,"},{"speaker":"Silvio Stroescu","startTime":1734.18,"endTime":1736.7,"body":"write it down again, write it"},{"speaker":"Silvio Stroescu","startTime":1736.7,"endTime":1739.31,"body":"out for yourself, not for"},{"speaker":"Silvio Stroescu","startTime":1736.7,"endTime":1739.31,"body":"anybody else, just write it"},{"speaker":"Silvio Stroescu","startTime":1739.31,"endTime":1741.83,"body":"down. So you actually understand"},{"speaker":"Silvio Stroescu","startTime":1739.31,"endTime":1741.83,"body":"why you started doing this in"},{"speaker":"Silvio Stroescu","startTime":1741.83,"endTime":1745.52,"body":"the first place, and what your"},{"speaker":"Silvio Stroescu","startTime":1741.83,"endTime":1745.52,"body":"intent is right off the bat. And"},{"speaker":"Silvio Stroescu","startTime":1745.52,"endTime":1749.0,"body":"then we say, you know, the"},{"speaker":"Silvio Stroescu","startTime":1745.52,"endTime":1749.0,"body":"tenants around investing, like"},{"speaker":"Silvio Stroescu","startTime":1749.0,"endTime":1751.61,"body":"the principle that I've been"},{"speaker":"Silvio Stroescu","startTime":1749.0,"endTime":1751.61,"body":"around for a long time, they're"},{"speaker":"Silvio Stroescu","startTime":1751.61,"endTime":1754.25,"body":"still the same today. Right? I"},{"speaker":"Silvio Stroescu","startTime":1751.61,"endTime":1754.25,"body":"mean, you know, fundamentals are"},{"speaker":"Silvio Stroescu","startTime":1754.25,"endTime":1758.09,"body":"harder to pin down, you know, in"},{"speaker":"Silvio Stroescu","startTime":1754.25,"endTime":1758.09,"body":"this market, right. But the, the"},{"speaker":"Silvio Stroescu","startTime":1758.09,"endTime":1760.73,"body":"actual tenants of investing are"},{"speaker":"Silvio Stroescu","startTime":1758.09,"endTime":1760.73,"body":"still the same, right. So think"},{"speaker":"Silvio Stroescu","startTime":1760.73,"endTime":1764.06,"body":"about diversification, you know,"},{"speaker":"Silvio Stroescu","startTime":1760.73,"endTime":1764.06,"body":"think about how do you make sure"},{"speaker":"Silvio Stroescu","startTime":1764.06,"endTime":1766.91,"body":"that you crystallize your goals,"},{"speaker":"Silvio Stroescu","startTime":1764.06,"endTime":1766.91,"body":"and what you're doing is"},{"speaker":"Silvio Stroescu","startTime":1766.91,"endTime":1769.88,"body":"actually in alignment with those"},{"speaker":"Silvio Stroescu","startTime":1766.91,"endTime":1769.88,"body":"goals. Right. So those those"},{"speaker":"Silvio Stroescu","startTime":1769.88,"endTime":1775.52,"body":"standards still apply, Preet."},{"speaker":"Silvio Stroescu","startTime":1769.88,"endTime":1775.52,"body":"And that the third element of"},{"speaker":"Silvio Stroescu","startTime":1775.52,"endTime":1778.1,"body":"this, I'd say, is just man, the"},{"speaker":"Silvio Stroescu","startTime":1775.52,"endTime":1778.1,"body":"power of advice and that"},{"speaker":"Silvio Stroescu","startTime":1778.1,"endTime":1781.34,"body":"importance of advice, like, you"},{"speaker":"Silvio Stroescu","startTime":1778.1,"endTime":1781.34,"body":"know, if we're talking about"},{"speaker":"Silvio Stroescu","startTime":1781.34,"endTime":1783.8,"body":"trends in self directed"},{"speaker":"Silvio Stroescu","startTime":1781.34,"endTime":1783.8,"body":"platforms, I'll tell you, I"},{"speaker":"Silvio Stroescu","startTime":1783.8,"endTime":1786.92,"body":"would complement that with the"},{"speaker":"Silvio Stroescu","startTime":1783.8,"endTime":1786.92,"body":"need for advice is is even"},{"speaker":"Silvio Stroescu","startTime":1786.92,"endTime":1791.39,"body":"higher now. Right. So what we've"},{"speaker":"Silvio Stroescu","startTime":1786.92,"endTime":1791.39,"body":"done in the context of the"},{"speaker":"Silvio Stroescu","startTime":1791.39,"endTime":1794.42,"body":"digital platform, you have folks"},{"speaker":"Silvio Stroescu","startTime":1791.39,"endTime":1794.42,"body":"that are adopting self directed"},{"speaker":"Silvio Stroescu","startTime":1794.42,"endTime":1797.21,"body":"platform because they want to do"},{"speaker":"Silvio Stroescu","startTime":1794.42,"endTime":1797.21,"body":"more on their own right, and"},{"speaker":"Silvio Stroescu","startTime":1797.21,"endTime":1799.49,"body":"they want to be able to make"},{"speaker":"Silvio Stroescu","startTime":1797.21,"endTime":1799.49,"body":"their own decisions, but they're"},{"speaker":"Silvio Stroescu","startTime":1799.49,"endTime":1802.49,"body":"also looking validation right"},{"speaker":"Silvio Stroescu","startTime":1799.49,"endTime":1802.49,"body":"there, beyond just the"},{"speaker":"Silvio Stroescu","startTime":1802.49,"endTime":1805.13,"body":"conversations around, helped me"},{"speaker":"Silvio Stroescu","startTime":1802.49,"endTime":1805.13,"body":"understand and get more"},{"speaker":"Silvio Stroescu","startTime":1805.13,"endTime":1808.01,"body":"comfortable to know what I'm"},{"speaker":"Silvio Stroescu","startTime":1805.13,"endTime":1808.01,"body":"doing and how I should do this"},{"speaker":"Silvio Stroescu","startTime":1808.01,"endTime":1811.19,"body":"stuff. They're also looking for"},{"speaker":"Silvio Stroescu","startTime":1808.01,"endTime":1811.19,"body":"validation, we created a service"},{"speaker":"Silvio Stroescu","startTime":1811.19,"endTime":1815.09,"body":"called advice direct. And in"},{"speaker":"Silvio Stroescu","startTime":1811.19,"endTime":1815.09,"body":"this context, you actually have"},{"speaker":"Silvio Stroescu","startTime":1815.09,"endTime":1817.73,"body":"advice. So we do provide you"},{"speaker":"Silvio Stroescu","startTime":1815.09,"endTime":1817.73,"body":"guidance on how to build your"},{"speaker":"Silvio Stroescu","startTime":1817.73,"endTime":1821.48,"body":"portfolio, how to make sure that"},{"speaker":"Silvio Stroescu","startTime":1817.73,"endTime":1821.48,"body":"it's well diversified, how to"},{"speaker":"Silvio Stroescu","startTime":1821.48,"endTime":1823.88,"body":"rebalance your portfolio along"},{"speaker":"Silvio Stroescu","startTime":1821.48,"endTime":1823.88,"body":"the way to make sure that it"},{"speaker":"Silvio Stroescu","startTime":1823.88,"endTime":1827.72,"body":"stays aligned with your goals."},{"speaker":"Silvio Stroescu","startTime":1823.88,"endTime":1827.72,"body":"So there's a digital tool that"},{"speaker":"Silvio Stroescu","startTime":1827.72,"endTime":1830.48,"body":"provides you advice and guidance"},{"speaker":"Silvio Stroescu","startTime":1827.72,"endTime":1830.48,"body":"on how to build and manage your"},{"speaker":"Silvio Stroescu","startTime":1830.48,"endTime":1834.26,"body":"portfolio. And then you also"},{"speaker":"Silvio Stroescu","startTime":1830.48,"endTime":1834.26,"body":"have access to an advisor. So"},{"speaker":"Silvio Stroescu","startTime":1834.26,"endTime":1837.47,"body":"someone that actually can speak"},{"speaker":"Silvio Stroescu","startTime":1834.26,"endTime":1837.47,"body":"to you and complement the actual"},{"speaker":"Silvio Stroescu","startTime":1837.47,"endTime":1842.06,"body":"digital tools with with a human"},{"speaker":"Silvio Stroescu","startTime":1837.47,"endTime":1842.06,"body":"being. The new ones here is that"},{"speaker":"Silvio Stroescu","startTime":1842.06,"endTime":1844.04,"body":"you still place a trade"},{"speaker":"Silvio Stroescu","startTime":1842.06,"endTime":1844.04,"body":"yourself, that you're still"},{"speaker":"Silvio Stroescu","startTime":1844.04,"endTime":1846.5,"body":"working on the platform, making"},{"speaker":"Silvio Stroescu","startTime":1844.04,"endTime":1846.5,"body":"the trade yourself but you have"},{"speaker":"Silvio Stroescu","startTime":1846.5,"endTime":1851.36,"body":"the benefit of complementing,"},{"speaker":"Silvio Stroescu","startTime":1846.5,"endTime":1851.36,"body":"you know, your your intent to do"},{"speaker":"Silvio Stroescu","startTime":1851.36,"endTime":1855.89,"body":"more on your own with support"},{"speaker":"Silvio Stroescu","startTime":1851.36,"endTime":1855.89,"body":"from this digital tool, and any"},{"speaker":"Silvio Stroescu","startTime":1855.89,"endTime":1861.32,"body":"advisor. And even prior to prior"},{"speaker":"Silvio Stroescu","startTime":1855.89,"endTime":1861.32,"body":"to spring and prior to March, we"},{"speaker":"Silvio Stroescu","startTime":1861.32,"endTime":1864.44,"body":"saw adoption of that platform"},{"speaker":"Silvio Stroescu","startTime":1861.32,"endTime":1864.44,"body":"growing exponentially as well."},{"speaker":"Silvio Stroescu","startTime":1864.71,"endTime":1868.94,"body":"And that continues. Right? So"},{"speaker":"Silvio Stroescu","startTime":1864.71,"endTime":1868.94,"body":"it's it's just thinking"},{"speaker":"Silvio Stroescu","startTime":1868.94,"endTime":1873.23,"body":"differently about how do we now"},{"speaker":"Silvio Stroescu","startTime":1868.94,"endTime":1873.23,"body":"build services, and build"},{"speaker":"Silvio Stroescu","startTime":1873.23,"endTime":1876.08,"body":"awareness of services that"},{"speaker":"Silvio Stroescu","startTime":1873.23,"endTime":1876.08,"body":"already exist, and and make sure"},{"speaker":"Silvio Stroescu","startTime":1876.08,"endTime":1879.02,"body":"that we're helping folks that"},{"speaker":"Silvio Stroescu","startTime":1876.08,"endTime":1879.02,"body":"way. We also launched a"},{"speaker":"Silvio Stroescu","startTime":1879.02,"endTime":1881.39,"body":"portfolio health check. So this"},{"speaker":"Silvio Stroescu","startTime":1879.02,"endTime":1881.39,"body":"is something that we've been"},{"speaker":"Silvio Stroescu","startTime":1881.39,"endTime":1883.64,"body":"working on since the spring"},{"speaker":"Silvio Stroescu","startTime":1881.39,"endTime":1883.64,"body":"where we saw this happening, we"},{"speaker":"Silvio Stroescu","startTime":1883.64,"endTime":1885.89,"body":"said, well, what's the next"},{"speaker":"Silvio Stroescu","startTime":1883.64,"endTime":1885.89,"body":"step? You know, what would"},{"speaker":"Silvio Stroescu","startTime":1885.89,"endTime":1888.95,"body":"investors look for beyond this?"},{"speaker":"Silvio Stroescu","startTime":1885.89,"endTime":1888.95,"body":"And what would be the step after"},{"speaker":"Silvio Stroescu","startTime":1888.95,"endTime":1893.6,"body":"that? So using some foresight"},{"speaker":"Silvio Stroescu","startTime":1888.95,"endTime":1893.6,"body":"back in the spring, we build a"},{"speaker":"Silvio Stroescu","startTime":1893.6,"endTime":1897.62,"body":"portfolio health check tool,"},{"speaker":"Silvio Stroescu","startTime":1893.6,"endTime":1897.62,"body":"which helps you now run your"},{"speaker":"Silvio Stroescu","startTime":1897.62,"endTime":1900.32,"body":"portfolio through this tool and"},{"speaker":"Silvio Stroescu","startTime":1897.62,"endTime":1900.32,"body":"identifies First of all, it"},{"speaker":"Silvio Stroescu","startTime":1900.32,"endTime":1902.0,"body":"asked you, you know, what are"},{"speaker":"Silvio Stroescu","startTime":1900.32,"endTime":1902.0,"body":"your goals, and remember the"},{"speaker":"Silvio Stroescu","startTime":1902.0,"endTime":1904.58,"body":"ground that we talked about, it"},{"speaker":"Silvio Stroescu","startTime":1902.0,"endTime":1904.58,"body":"starts off with that to identify"},{"speaker":"Silvio Stroescu","startTime":1904.58,"endTime":1907.04,"body":"why you're doing this in the"},{"speaker":"Silvio Stroescu","startTime":1904.58,"endTime":1907.04,"body":"first place. So it helps you"},{"speaker":"Silvio Stroescu","startTime":1907.04,"endTime":1910.31,"body":"with that self conversation of"},{"speaker":"Silvio Stroescu","startTime":1907.04,"endTime":1910.31,"body":"grounding, and, you know,"},{"speaker":"Silvio Stroescu","startTime":1910.31,"endTime":1913.13,"body":"grounding in your North Star,"},{"speaker":"Silvio Stroescu","startTime":1910.31,"endTime":1913.13,"body":"and then it actually you put in"},{"speaker":"Silvio Stroescu","startTime":1913.13,"endTime":1917.24,"body":"your holdings, and we then give"},{"speaker":"Silvio Stroescu","startTime":1913.13,"endTime":1917.24,"body":"you an output that talks about"},{"speaker":"Silvio Stroescu","startTime":1917.24,"endTime":1919.88,"body":"the health of your portfolio. So"},{"speaker":"Silvio Stroescu","startTime":1917.24,"endTime":1919.88,"body":"are you well diversified across"},{"speaker":"Silvio Stroescu","startTime":1919.88,"endTime":1923.63,"body":"sectors, geographies? Is your"},{"speaker":"Silvio Stroescu","startTime":1919.88,"endTime":1923.63,"body":"asset allocation in line with"},{"speaker":"Silvio Stroescu","startTime":1924.32,"endTime":1925.55,"body":"with your goals? And,"},{"speaker":"Silvio Stroescu","startTime":1926.0,"endTime":1926.3,"body":"you know,"},{"speaker":"Silvio Stroescu","startTime":1926.33,"endTime":1929.03,"body":"what does that look like"},{"speaker":"Silvio Stroescu","startTime":1926.33,"endTime":1929.03,"body":"overall? So we've just launched"},{"speaker":"Silvio Stroescu","startTime":1929.03,"endTime":1932.36,"body":"that a couple of weeks ago, and"},{"speaker":"Silvio Stroescu","startTime":1929.03,"endTime":1932.36,"body":"it's available on our site,"},{"speaker":"Silvio Stroescu","startTime":1932.36,"endTime":1935.03,"body":"happy to share a link so we can"},{"speaker":"Silvio Stroescu","startTime":1932.36,"endTime":1935.03,"body":"include it for listeners of the"},{"speaker":"Silvio Stroescu","startTime":1935.03,"endTime":1937.88,"body":"podcast as well, that said that,"},{"speaker":"Silvio Stroescu","startTime":1935.03,"endTime":1937.88,"body":"you know, that's one of the"},{"speaker":"Silvio Stroescu","startTime":1937.88,"endTime":1940.04,"body":"tools we keep, which can"},{"speaker":"Silvio Stroescu","startTime":1937.88,"endTime":1940.04,"body":"complement what you have on the"},{"speaker":"Silvio Stroescu","startTime":1940.04,"endTime":1943.37,"body":"platform. And and frankly, look,"},{"speaker":"Silvio Stroescu","startTime":1940.04,"endTime":1943.37,"body":"we're seeing adoption of those"},{"speaker":"Silvio Stroescu","startTime":1943.55,"endTime":1946.79,"body":"services grow advice direct, for"},{"speaker":"Silvio Stroescu","startTime":1943.55,"endTime":1946.79,"body":"example, December record month,"},{"speaker":"Silvio Stroescu","startTime":1946.79,"endTime":1949.94,"body":"as well, for new accounts and"},{"speaker":"Silvio Stroescu","startTime":1946.79,"endTime":1949.94,"body":"client joining that platform."},{"speaker":"Silvio Stroescu","startTime":1950.27,"endTime":1953.96,"body":"And this tool, I imagine it"},{"speaker":"Silvio Stroescu","startTime":1950.27,"endTime":1953.96,"body":"will, will get a lot of traction"},{"speaker":"Silvio Stroescu","startTime":1953.96,"endTime":1954.38,"body":"as well."},{"speaker":"Preet Banerjee","startTime":1954.65,"endTime":1956.99,"body":"Yeah, I think"},{"speaker":"Preet Banerjee","startTime":1954.65,"endTime":1956.99,"body":"that this hybrid model where you"},{"speaker":"Preet Banerjee","startTime":1956.99,"endTime":1962.21,"body":"have, you know, digital tools"},{"speaker":"Preet Banerjee","startTime":1956.99,"endTime":1962.21,"body":"with access to to advice seems"},{"speaker":"Preet Banerjee","startTime":1962.21,"endTime":1966.29,"body":"to be a model right for, for"},{"speaker":"Preet Banerjee","startTime":1962.21,"endTime":1966.29,"body":"growth, like that seems like the"},{"speaker":"Preet Banerjee","startTime":1966.29,"endTime":1970.19,"body":"next paradigm. But what about"},{"speaker":"Preet Banerjee","startTime":1966.29,"endTime":1970.19,"body":"coxes? There are a lot of people"},{"speaker":"Preet Banerjee","startTime":1970.58,"endTime":1973.7,"body":"who, whether different reasons,"},{"speaker":"Preet Banerjee","startTime":1970.58,"endTime":1973.7,"body":"people go to a self directed"},{"speaker":"Preet Banerjee","startTime":1973.7,"endTime":1976.01,"body":"platform, one is pure"},{"speaker":"Preet Banerjee","startTime":1973.7,"endTime":1976.01,"body":"empowerment, they just want to"},{"speaker":"Preet Banerjee","startTime":1976.01,"endTime":1979.85,"body":"trade on their own, their cost"},{"speaker":"Preet Banerjee","startTime":1976.01,"endTime":1979.85,"body":"might actually end up going up"},{"speaker":"Preet Banerjee","startTime":1979.88,"endTime":1982.79,"body":"versus you skip it, or they're"},{"speaker":"Preet Banerjee","startTime":1979.88,"endTime":1982.79,"body":"heavy traders. But there are a"},{"speaker":"Preet Banerjee","startTime":1982.79,"endTime":1986.45,"body":"lot of people who who move to"},{"speaker":"Preet Banerjee","startTime":1982.79,"endTime":1986.45,"body":"self directed platforms, because"},{"speaker":"Preet Banerjee","startTime":1986.45,"endTime":1990.23,"body":"they explicitly want to save on"},{"speaker":"Preet Banerjee","startTime":1986.45,"endTime":1990.23,"body":"costs. And so they might go to"},{"speaker":"Preet Banerjee","startTime":1990.29,"endTime":1996.53,"body":"either, you know, super long buy"},{"speaker":"Preet Banerjee","startTime":1990.29,"endTime":1996.53,"body":"and hold portfolio, buying"},{"speaker":"Preet Banerjee","startTime":1996.53,"endTime":1999.02,"body":"individual stocks and build out"},{"speaker":"Preet Banerjee","startTime":1996.53,"endTime":1999.02,"body":"a portfolio or they might use a"},{"speaker":"Preet Banerjee","startTime":1999.02,"endTime":2002.05,"body":"couch potato strategy with index"},{"speaker":"Preet Banerjee","startTime":1999.02,"endTime":2002.05,"body":"funds, what have you. But there"},{"speaker":"Preet Banerjee","startTime":2002.05,"endTime":2004.63,"body":"are a lot of people who are kind"},{"speaker":"Preet Banerjee","startTime":2002.05,"endTime":2004.63,"body":"of in between those extremes. So"},{"speaker":"Preet Banerjee","startTime":2004.66,"endTime":2008.59,"body":"So talk to me about what is the"},{"speaker":"Preet Banerjee","startTime":2004.66,"endTime":2008.59,"body":"cause for advice direct? And"},{"speaker":"Preet Banerjee","startTime":2008.59,"endTime":2011.02,"body":"what's the cause for this"},{"speaker":"Preet Banerjee","startTime":2008.59,"endTime":2011.02,"body":"portfolio? Check? Is that like a"},{"speaker":"Preet Banerjee","startTime":2011.02,"endTime":2013.99,"body":"free tool available on the"},{"speaker":"Preet Banerjee","startTime":2011.02,"endTime":2013.99,"body":"platform? Do you have to pay for"},{"speaker":"Preet Banerjee","startTime":2013.99,"endTime":2016.48,"body":"these two different types of"},{"speaker":"Preet Banerjee","startTime":2013.99,"endTime":2016.48,"body":"services? Talk to me about"},{"speaker":"Preet Banerjee","startTime":2016.48,"endTime":2017.05,"body":"costs?"},{"speaker":"Silvio Stroescu","startTime":2017.29,"endTime":2019.3,"body":"Yeah, so look,"},{"speaker":"Silvio Stroescu","startTime":2017.29,"endTime":2019.3,"body":"first, the portfolio health"},{"speaker":"Silvio Stroescu","startTime":2019.3,"endTime":2022.81,"body":"check. It's a free tool. So you"},{"speaker":"Silvio Stroescu","startTime":2019.3,"endTime":2022.81,"body":"plug in some information, you"},{"speaker":"Silvio Stroescu","startTime":2022.81,"endTime":2027.1,"body":"know, we have some information"},{"speaker":"Silvio Stroescu","startTime":2022.81,"endTime":2027.1,"body":"about your profile. And we we"},{"speaker":"Silvio Stroescu","startTime":2027.1,"endTime":2029.95,"body":"guide you on how to identify"},{"speaker":"Silvio Stroescu","startTime":2027.1,"endTime":2029.95,"body":"that Northstar and then the"},{"speaker":"Silvio Stroescu","startTime":2029.95,"endTime":2033.79,"body":"output with with flags to say"},{"speaker":"Silvio Stroescu","startTime":2029.95,"endTime":2033.79,"body":"look previous should be"},{"speaker":"Silvio Stroescu","startTime":2033.82,"endTime":2038.44,"body":"reviewing your diversification"},{"speaker":"Silvio Stroescu","startTime":2033.82,"endTime":2038.44,"body":"and so on all that is free. That"},{"speaker":"Silvio Stroescu","startTime":2038.44,"endTime":2043.21,"body":"is a sliver of the portfolio"},{"speaker":"Silvio Stroescu","startTime":2038.44,"endTime":2043.21,"body":"optimization engine that we have"},{"speaker":"Silvio Stroescu","startTime":2043.21,"endTime":2046.15,"body":"within the advice direct so it"},{"speaker":"Silvio Stroescu","startTime":2043.21,"endTime":2046.15,"body":"gives you a sense of a test"},{"speaker":"Silvio Stroescu","startTime":2046.15,"endTime":2048.58,"body":"drive if you will, of what"},{"speaker":"Silvio Stroescu","startTime":2046.15,"endTime":2048.58,"body":"advice to write could do for"},{"speaker":"Silvio Stroescu","startTime":2048.58,"endTime":2052.9,"body":"you. But this component of it is"},{"speaker":"Silvio Stroescu","startTime":2048.58,"endTime":2052.9,"body":"free now if you want to pursue"},{"speaker":"Silvio Stroescu","startTime":2052.9,"endTime":2055.15,"body":"that further and set up an"},{"speaker":"Silvio Stroescu","startTime":2052.9,"endTime":2055.15,"body":"advice direct account so you"},{"speaker":"Silvio Stroescu","startTime":2055.15,"endTime":2058.78,"body":"have these types of"},{"speaker":"Silvio Stroescu","startTime":2055.15,"endTime":2058.78,"body":"notifications and you know, I'm"},{"speaker":"Silvio Stroescu","startTime":2058.81,"endTime":2060.97,"body":"telling you when you should make"},{"speaker":"Silvio Stroescu","startTime":2058.81,"endTime":2060.97,"body":"some changes to your portfolio"},{"speaker":"Silvio Stroescu","startTime":2060.97,"endTime":2063.7,"body":"because you need to realign with"},{"speaker":"Silvio Stroescu","startTime":2060.97,"endTime":2063.7,"body":"your goals, then you'd go into"},{"speaker":"Silvio Stroescu","startTime":2063.7,"endTime":2067.27,"body":"the full tool for advice direct."},{"speaker":"Silvio Stroescu","startTime":2063.7,"endTime":2067.27,"body":"The pricing for that is 75 basis"},{"speaker":"Silvio Stroescu","startTime":2067.27,"endTime":2071.59,"body":"points and it's tiered as well."},{"speaker":"Silvio Stroescu","startTime":2067.27,"endTime":2071.59,"body":"So there is a cap once once you"},{"speaker":"Silvio Stroescu","startTime":2071.59,"endTime":2073.87,"body":"get to a certain threshold of"},{"speaker":"Silvio Stroescu","startTime":2071.59,"endTime":2073.87,"body":"investable assets, you know"},{"speaker":"Silvio Stroescu","startTime":2073.87,"endTime":2078.85,"body":"becomes capped and that cap is"},{"speaker":"Silvio Stroescu","startTime":2073.87,"endTime":2078.85,"body":"at 3700 3750 off top my head as"},{"speaker":"Silvio Stroescu","startTime":2078.85,"endTime":2081.91,"body":"far as what what the overall cap"},{"speaker":"Silvio Stroescu","startTime":2078.85,"endTime":2081.91,"body":"is so the more you have invested"},{"speaker":"Silvio Stroescu","startTime":2081.91,"endTime":2085.84,"body":"in that the more you benefit"},{"speaker":"Silvio Stroescu","startTime":2081.91,"endTime":2085.84,"body":"from from the service and also"},{"speaker":"Silvio Stroescu","startTime":2085.84,"endTime":2088.75,"body":"from a pricing perspective. It"},{"speaker":"Silvio Stroescu","startTime":2085.84,"endTime":2088.75,"body":"also includes a number of free"},{"speaker":"Silvio Stroescu","startTime":2088.75,"endTime":2091.51,"body":"trades as well so you're not"},{"speaker":"Silvio Stroescu","startTime":2088.75,"endTime":2091.51,"body":"paying for the fee as well as"},{"speaker":"Silvio Stroescu","startTime":2091.51,"endTime":2096.46,"body":"trades right? So that's that's a"},{"speaker":"Silvio Stroescu","startTime":2091.51,"endTime":2096.46,"body":"good combo there. Just you know"},{"speaker":"Silvio Stroescu","startTime":2096.46,"endTime":2100.36,"body":"the if you look at who's trading"},{"speaker":"Silvio Stroescu","startTime":2096.46,"endTime":2100.36,"body":"under selling During the"},{"speaker":"Silvio Stroescu","startTime":2100.36,"endTime":2103.24,"body":"platform, a majority of the"},{"speaker":"Silvio Stroescu","startTime":2100.36,"endTime":2103.24,"body":"investors are actually"},{"speaker":"Silvio Stroescu","startTime":2103.54,"endTime":2106.15,"body":"investors, you know, the buy and"},{"speaker":"Silvio Stroescu","startTime":2103.54,"endTime":2106.15,"body":"hold type that you reference,"},{"speaker":"Silvio Stroescu","startTime":2106.15,"endTime":2110.23,"body":"right. So, you see, as far as"},{"speaker":"Silvio Stroescu","startTime":2106.15,"endTime":2110.23,"body":"active traders, they're anywhere"},{"speaker":"Silvio Stroescu","startTime":2110.23,"endTime":2114.13,"body":"between five to 6% of all the"},{"speaker":"Silvio Stroescu","startTime":2110.23,"endTime":2114.13,"body":"investors on the platform and by"},{"speaker":"Silvio Stroescu","startTime":2114.13,"endTime":2116.35,"body":"active traders, I mean, they do"},{"speaker":"Silvio Stroescu","startTime":2114.13,"endTime":2116.35,"body":"more than 10 trades a month,"},{"speaker":"Silvio Stroescu","startTime":2116.35,"endTime":2119.86,"body":"right? So the bulk of the"},{"speaker":"Silvio Stroescu","startTime":2116.35,"endTime":2119.86,"body":"investors on the platform tend"},{"speaker":"Silvio Stroescu","startTime":2119.86,"endTime":2123.34,"body":"to be more of the, you know, buy"},{"speaker":"Silvio Stroescu","startTime":2119.86,"endTime":2123.34,"body":"and hold, rebalance longer term"},{"speaker":"Silvio Stroescu","startTime":2123.34,"endTime":2124.06,"body":"investors."},{"speaker":"Preet Banerjee","startTime":2125.71,"endTime":2127.63,"body":"Do you do you"},{"speaker":"Preet Banerjee","startTime":2125.71,"endTime":2127.63,"body":"have a sense as to the average"},{"speaker":"Preet Banerjee","startTime":2127.63,"endTime":2131.32,"body":"hold period, for someone on your"},{"speaker":"Preet Banerjee","startTime":2127.63,"endTime":2131.32,"body":"platform, like when they buy any"},{"speaker":"Preet Banerjee","startTime":2131.32,"endTime":2136.27,"body":"position, give any idea what the"},{"speaker":"Preet Banerjee","startTime":2131.32,"endTime":2136.27,"body":"average hold time is? Well, it's"},{"speaker":"Silvio Stroescu","startTime":2136.27,"endTime":2137.83,"body":"obvious, if"},{"speaker":"Silvio Stroescu","startTime":2136.27,"endTime":2137.83,"body":"you're a long term investors, I"},{"speaker":"Silvio Stroescu","startTime":2137.83,"endTime":2140.86,"body":"mean, you know, these people are"},{"speaker":"Silvio Stroescu","startTime":2137.83,"endTime":2140.86,"body":"holding until they reach their"},{"speaker":"Silvio Stroescu","startTime":2140.86,"endTime":2145.93,"body":"goals, right. So So that's, I"},{"speaker":"Silvio Stroescu","startTime":2140.86,"endTime":2145.93,"body":"would say, the bulk of it would"},{"speaker":"Silvio Stroescu","startTime":2145.93,"endTime":2150.46,"body":"be that now average hold time"},{"speaker":"Silvio Stroescu","startTime":2145.93,"endTime":2150.46,"body":"for security, I don't have the"},{"speaker":"Silvio Stroescu","startTime":2150.46,"endTime":2152.26,"body":"breakdown of that to say how"},{"speaker":"Silvio Stroescu","startTime":2150.46,"endTime":2152.26,"body":"much they hold to the security"},{"speaker":"Silvio Stroescu","startTime":2152.26,"endTime":2153.94,"body":"because naturally, people"},{"speaker":"Silvio Stroescu","startTime":2152.26,"endTime":2153.94,"body":"rebalance their their"},{"speaker":"Silvio Stroescu","startTime":2153.94,"endTime":2156.49,"body":"portfolios. But as far as how"},{"speaker":"Silvio Stroescu","startTime":2153.94,"endTime":2156.49,"body":"long they stay invested in, you"},{"speaker":"Silvio Stroescu","startTime":2156.49,"endTime":2159.19,"body":"know, how much to stay invested"},{"speaker":"Silvio Stroescu","startTime":2156.49,"endTime":2159.19,"body":"and how that stays, you know,"},{"speaker":"Silvio Stroescu","startTime":2159.52,"endTime":2163.9,"body":"consistent across, across their"},{"speaker":"Silvio Stroescu","startTime":2159.52,"endTime":2163.9,"body":"tenure. You have more of those"},{"speaker":"Silvio Stroescu","startTime":2163.9,"endTime":2168.1,"body":"buy and hold. Even in March,"},{"speaker":"Silvio Stroescu","startTime":2163.9,"endTime":2168.1,"body":"right, when we saw a lot of"},{"speaker":"Silvio Stroescu","startTime":2168.1,"endTime":2170.92,"body":"volatility, I mean, the activity"},{"speaker":"Silvio Stroescu","startTime":2168.1,"endTime":2170.92,"body":"that happened was, you know, not"},{"speaker":"Silvio Stroescu","startTime":2170.92,"endTime":2174.46,"body":"people just buying jumping in"},{"speaker":"Silvio Stroescu","startTime":2170.92,"endTime":2174.46,"body":"and out of holding securities,"},{"speaker":"Silvio Stroescu","startTime":2174.73,"endTime":2177.25,"body":"you also had existing clients,"},{"speaker":"Silvio Stroescu","startTime":2174.73,"endTime":2177.25,"body":"especially retirees that were"},{"speaker":"Silvio Stroescu","startTime":2177.25,"endTime":2179.47,"body":"actually de risking their"},{"speaker":"Silvio Stroescu","startTime":2177.25,"endTime":2179.47,"body":"portfolios, right. So in that"},{"speaker":"Silvio Stroescu","startTime":2179.47,"endTime":2181.84,"body":"case, it looked like they were"},{"speaker":"Silvio Stroescu","startTime":2179.47,"endTime":2181.84,"body":"selling out, but, you know, they"},{"speaker":"Silvio Stroescu","startTime":2181.84,"endTime":2185.83,"body":"were, they were de risking just"},{"speaker":"Silvio Stroescu","startTime":2181.84,"endTime":2185.83,"body":"to have, frankly, more available"},{"speaker":"Silvio Stroescu","startTime":2185.83,"endTime":2189.43,"body":"to them in cash. And, you know,"},{"speaker":"Silvio Stroescu","startTime":2185.83,"endTime":2189.43,"body":"in many cases, while the"},{"speaker":"Silvio Stroescu","startTime":2189.43,"endTime":2192.07,"body":"supplement retirement incomes"},{"speaker":"Silvio Stroescu","startTime":2189.43,"endTime":2192.07,"body":"and making sure that cash is"},{"speaker":"Silvio Stroescu","startTime":2192.07,"endTime":2193.18,"body":"there to be able to do that."},{"speaker":"Preet Banerjee","startTime":2193.72,"endTime":2196.12,"body":"Now, speaking of"},{"speaker":"Preet Banerjee","startTime":2193.72,"endTime":2196.12,"body":"cash, one of the things that"},{"speaker":"Preet Banerjee","startTime":2196.12,"endTime":2199.87,"body":"we've noticed is that people are"},{"speaker":"Preet Banerjee","startTime":2196.12,"endTime":2199.87,"body":"looking at at this as kind of"},{"speaker":"Preet Banerjee","startTime":2199.87,"endTime":2202.9,"body":"like a tale of two economies,"},{"speaker":"Preet Banerjee","startTime":2199.87,"endTime":2202.9,"body":"you have people who have been"},{"speaker":"Preet Banerjee","startTime":2203.47,"endTime":2206.23,"body":"affected negatively the most,"},{"speaker":"Preet Banerjee","startTime":2203.47,"endTime":2206.23,"body":"they tend to be on the lower end"},{"speaker":"Preet Banerjee","startTime":2206.23,"endTime":2211.45,"body":"of the income spectrum, working"},{"speaker":"Preet Banerjee","startTime":2206.23,"endTime":2211.45,"body":"in retail jobs, the jobs most"},{"speaker":"Preet Banerjee","startTime":2211.45,"endTime":2214.72,"body":"affected by lockdowns and"},{"speaker":"Preet Banerjee","startTime":2211.45,"endTime":2214.72,"body":"restrictions, and they're been,"},{"speaker":"Preet Banerjee","startTime":2214.75,"endTime":2217.99,"body":"you know, completely decimated."},{"speaker":"Preet Banerjee","startTime":2214.75,"endTime":2217.99,"body":"And then you have a lot of"},{"speaker":"Preet Banerjee","startTime":2217.99,"endTime":2221.95,"body":"people who are more kind of"},{"speaker":"Preet Banerjee","startTime":2217.99,"endTime":2221.95,"body":"white collar, who are able to"},{"speaker":"Preet Banerjee","startTime":2221.95,"endTime":2225.43,"body":"work behind a computer either at"},{"speaker":"Preet Banerjee","startTime":2221.95,"endTime":2225.43,"body":"from an office or from a home"},{"speaker":"Preet Banerjee","startTime":2225.43,"endTime":2229.9,"body":"office. And so they may not have"},{"speaker":"Preet Banerjee","startTime":2225.43,"endTime":2229.9,"body":"necessarily lost any income, but"},{"speaker":"Preet Banerjee","startTime":2229.9,"endTime":2232.09,"body":"they've lost the ability to"},{"speaker":"Preet Banerjee","startTime":2229.9,"endTime":2232.09,"body":"spend because they're not able"},{"speaker":"Preet Banerjee","startTime":2232.09,"endTime":2234.58,"body":"to travel. And for a lot of"},{"speaker":"Preet Banerjee","startTime":2232.09,"endTime":2234.58,"body":"people, you know, not traveling"},{"speaker":"Preet Banerjee","startTime":2234.58,"endTime":2238.24,"body":"is like, you know, five grand"},{"speaker":"Preet Banerjee","startTime":2234.58,"endTime":2238.24,"body":"extra in your pocket, not going"},{"speaker":"Preet Banerjee","startTime":2238.24,"endTime":2242.23,"body":"out to restaurants as often as"},{"speaker":"Preet Banerjee","startTime":2238.24,"endTime":2242.23,"body":"putting extra money in people's"},{"speaker":"Preet Banerjee","startTime":2242.23,"endTime":2244.48,"body":"pockets. So we see that there is"},{"speaker":"Preet Banerjee","startTime":2242.23,"endTime":2244.48,"body":"some people who are actually"},{"speaker":"Preet Banerjee","startTime":2244.48,"endTime":2247.69,"body":"sitting on a lot more cash than"},{"speaker":"Preet Banerjee","startTime":2244.48,"endTime":2247.69,"body":"they've ever had access to"},{"speaker":"Preet Banerjee","startTime":2247.69,"endTime":2250.72,"body":"before. And they're putting it"},{"speaker":"Preet Banerjee","startTime":2247.69,"endTime":2250.72,"body":"into their investment accounts."},{"speaker":"Preet Banerjee","startTime":2250.75,"endTime":2254.26,"body":"Are they sitting in cash? Or are"},{"speaker":"Preet Banerjee","startTime":2250.75,"endTime":2254.26,"body":"they deploying that? Do you have"},{"speaker":"Preet Banerjee","startTime":2254.26,"endTime":2255.19,"body":"any sense of that."},{"speaker":"Silvio Stroescu","startTime":2256.51,"endTime":2259.45,"body":"So savings rate"},{"speaker":"Silvio Stroescu","startTime":2256.51,"endTime":2259.45,"body":"is up overall, just to just to"},{"speaker":"Silvio Stroescu","startTime":2259.45,"endTime":2261.37,"body":"build on your point as well. And"},{"speaker":"Silvio Stroescu","startTime":2259.45,"endTime":2261.37,"body":"I think that's a healthy thing."},{"speaker":"Silvio Stroescu","startTime":2261.37,"endTime":2263.95,"body":"That's a really good thing. And"},{"speaker":"Silvio Stroescu","startTime":2261.37,"endTime":2263.95,"body":"I think people are also reacting"},{"speaker":"Silvio Stroescu","startTime":2263.95,"endTime":2267.79,"body":"to you know, the shock that that"},{"speaker":"Silvio Stroescu","startTime":2263.95,"endTime":2267.79,"body":"we all faced in March and and"},{"speaker":"Silvio Stroescu","startTime":2267.79,"endTime":2272.35,"body":"people that didn't have a lot of"},{"speaker":"Silvio Stroescu","startTime":2267.79,"endTime":2272.35,"body":"savings for the emergency funds"},{"speaker":"Silvio Stroescu","startTime":2272.35,"endTime":2275.2,"body":"top top to be able to withstand"},{"speaker":"Silvio Stroescu","startTime":2272.35,"endTime":2275.2,"body":"that type of exogenous shock,"},{"speaker":"Silvio Stroescu","startTime":2275.23,"endTime":2276.82,"body":"you know, they're they're"},{"speaker":"Silvio Stroescu","startTime":2275.23,"endTime":2276.82,"body":"ramping it up. So I think"},{"speaker":"Silvio Stroescu","startTime":2276.82,"endTime":2279.49,"body":"there's there's an element of"},{"speaker":"Silvio Stroescu","startTime":2276.82,"endTime":2279.49,"body":"that as well. When you look at"},{"speaker":"Silvio Stroescu","startTime":2279.49,"endTime":2283.42,"body":"our platform, the younger"},{"speaker":"Silvio Stroescu","startTime":2279.49,"endTime":2283.42,"body":"clients, so let's call them"},{"speaker":"Silvio Stroescu","startTime":2283.42,"endTime":2286.45,"body":"clients on a 35, which you and I"},{"speaker":"Silvio Stroescu","startTime":2283.42,"endTime":2286.45,"body":"could consider ourselves in that"},{"speaker":"Silvio Stroescu","startTime":2286.45,"endTime":2290.56,"body":"category. Once upon a time pre"},{"speaker":"Silvio Stroescu","startTime":2286.45,"endTime":2290.56,"body":"but clients, younger clients are"},{"speaker":"Silvio Stroescu","startTime":2290.56,"endTime":2294.7,"body":"actually deploying more cash if"},{"speaker":"Silvio Stroescu","startTime":2290.56,"endTime":2294.7,"body":"you index to, typically new"},{"speaker":"Silvio Stroescu","startTime":2294.7,"endTime":2297.46,"body":"clients come in, and let's say"},{"speaker":"Silvio Stroescu","startTime":2294.7,"endTime":2297.46,"body":"they're bringing in 100,000, how"},{"speaker":"Silvio Stroescu","startTime":2297.46,"endTime":2302.8,"body":"much 100,000 gets deployed, more"},{"speaker":"Silvio Stroescu","startTime":2297.46,"endTime":2302.8,"body":"of the initial cash coming into"},{"speaker":"Silvio Stroescu","startTime":2302.8,"endTime":2305.14,"body":"the account is being deployed by"},{"speaker":"Silvio Stroescu","startTime":2302.8,"endTime":2305.14,"body":"the younger investors. Right. So"},{"speaker":"Silvio Stroescu","startTime":2305.14,"endTime":2309.16,"body":"they're, they're looking for,"},{"speaker":"Silvio Stroescu","startTime":2305.14,"endTime":2309.16,"body":"you know, time in the market, as"},{"speaker":"Silvio Stroescu","startTime":2309.16,"endTime":2313.6,"body":"opposed to timing the market,"},{"speaker":"Silvio Stroescu","startTime":2309.16,"endTime":2313.6,"body":"right. And then you also have"},{"speaker":"Silvio Stroescu","startTime":2314.17,"endTime":2317.41,"body":"older clients, retirees in"},{"speaker":"Silvio Stroescu","startTime":2314.17,"endTime":2317.41,"body":"particular, they've de risked,"},{"speaker":"Silvio Stroescu","startTime":2317.41,"endTime":2320.83,"body":"right, so they have higher cash"},{"speaker":"Silvio Stroescu","startTime":2317.41,"endTime":2320.83,"body":"positions, as we just talked"},{"speaker":"Silvio Stroescu","startTime":2320.83,"endTime":2323.29,"body":"about, potentially think about"},{"speaker":"Silvio Stroescu","startTime":2320.83,"endTime":2323.29,"body":"how do I supplement my incomes,"},{"speaker":"Silvio Stroescu","startTime":2323.29,"endTime":2326.8,"body":"right. And the income that I"},{"speaker":"Silvio Stroescu","startTime":2323.29,"endTime":2326.8,"body":"used to get from bonds and the"},{"speaker":"Silvio Stroescu","startTime":2326.8,"endTime":2329.05,"body":"fixed income component, my"},{"speaker":"Silvio Stroescu","startTime":2326.8,"endTime":2329.05,"body":"portfolio is not paying what it"},{"speaker":"Silvio Stroescu","startTime":2329.05,"endTime":2331.12,"body":"used to. So I need to have some"},{"speaker":"Silvio Stroescu","startTime":2329.05,"endTime":2331.12,"body":"cash to be able to supplement"},{"speaker":"Silvio Stroescu","startTime":2331.12,"endTime":2333.88,"body":"that. And, frankly, you know, I"},{"speaker":"Silvio Stroescu","startTime":2331.12,"endTime":2333.88,"body":"don't know how long this takes,"},{"speaker":"Silvio Stroescu","startTime":2333.88,"endTime":2336.4,"body":"right. So I want to make sure"},{"speaker":"Silvio Stroescu","startTime":2333.88,"endTime":2336.4,"body":"that I'm covered there. So let's"},{"speaker":"Silvio Stroescu","startTime":2336.4,"endTime":2338.65,"body":"say, you know, those are smart"},{"speaker":"Silvio Stroescu","startTime":2336.4,"endTime":2338.65,"body":"decisions, right? Again, you"},{"speaker":"Silvio Stroescu","startTime":2338.65,"endTime":2341.38,"body":"know, it's not every single"},{"speaker":"Silvio Stroescu","startTime":2338.65,"endTime":2341.38,"body":"client, but if you roll it up,"},{"speaker":"Silvio Stroescu","startTime":2341.38,"endTime":2343.72,"body":"but you know, that's that's the"},{"speaker":"Silvio Stroescu","startTime":2341.38,"endTime":2343.72,"body":"view that we see from a higher"},{"speaker":"Silvio Stroescu","startTime":2343.72,"endTime":2348.19,"body":"vantage point. And then you have"},{"speaker":"Silvio Stroescu","startTime":2343.72,"endTime":2348.19,"body":"some folks that are just looking"},{"speaker":"Silvio Stroescu","startTime":2348.19,"endTime":2350.08,"body":"for opportunities, right, and"},{"speaker":"Silvio Stroescu","startTime":2348.19,"endTime":2350.08,"body":"just waiting for that"},{"speaker":"Silvio Stroescu","startTime":2350.08,"endTime":2355.54,"body":"opportunity. And I think, again,"},{"speaker":"Silvio Stroescu","startTime":2350.08,"endTime":2355.54,"body":"to hold that this whole idea of"},{"speaker":"Silvio Stroescu","startTime":2355.54,"endTime":2358.87,"body":"like timing to market actually"},{"speaker":"Silvio Stroescu","startTime":2355.54,"endTime":2358.87,"body":"beats timing to market applies"},{"speaker":"Silvio Stroescu","startTime":2358.87,"endTime":2362.2,"body":"to that. But I think for the"},{"speaker":"Silvio Stroescu","startTime":2358.87,"endTime":2362.2,"body":"most part cash, just the role of"},{"speaker":"Silvio Stroescu","startTime":2362.2,"endTime":2367.09,"body":"cash has expanded. And either,"},{"speaker":"Silvio Stroescu","startTime":2362.2,"endTime":2367.09,"body":"you know, be able to protect"},{"speaker":"Silvio Stroescu","startTime":2367.09,"endTime":2370.3,"body":"myself, supplement my income,"},{"speaker":"Silvio Stroescu","startTime":2367.09,"endTime":2370.3,"body":"make sure that I have savings to"},{"speaker":"Silvio Stroescu","startTime":2370.3,"endTime":2374.35,"body":"respond to exhaustion as"},{"speaker":"Silvio Stroescu","startTime":2370.3,"endTime":2374.35,"body":"exogenous shocks, I see that the"},{"speaker":"Silvio Stroescu","startTime":2374.35,"endTime":2378.4,"body":"role of cash has expanded and"},{"speaker":"Silvio Stroescu","startTime":2374.35,"endTime":2378.4,"body":"over indexing towards people"},{"speaker":"Silvio Stroescu","startTime":2378.4,"endTime":2380.65,"body":"that are holding cash is that"},{"speaker":"Silvio Stroescu","startTime":2378.4,"endTime":2380.65,"body":"really, you know, those that"},{"speaker":"Silvio Stroescu","startTime":2380.65,"endTime":2382.72,"body":"have to depend on that as far as"},{"speaker":"Silvio Stroescu","startTime":2380.65,"endTime":2382.72,"body":"retirement income."},{"speaker":"Preet Banerjee","startTime":2383.62,"endTime":2386.41,"body":"All right. We'll"},{"speaker":"Preet Banerjee","startTime":2383.62,"endTime":2386.41,"body":"leave it there. But I want to"},{"speaker":"Preet Banerjee","startTime":2386.41,"endTime":2389.65,"body":"thank you so much for coming on"},{"speaker":"Preet Banerjee","startTime":2386.41,"endTime":2389.65,"body":"the podcast and sort of"},{"speaker":"Preet Banerjee","startTime":2389.65,"endTime":2392.29,"body":"addressing the concerns that"},{"speaker":"Preet Banerjee","startTime":2389.65,"endTime":2392.29,"body":"have been raised by various"},{"speaker":"Preet Banerjee","startTime":2392.29,"endTime":2395.92,"body":"writers and people tweeting at"},{"speaker":"Preet Banerjee","startTime":2392.29,"endTime":2395.92,"body":"us both. So I appreciate your"},{"speaker":"Preet Banerjee","startTime":2395.92,"endTime":2399.34,"body":"candor in addressing that."},{"speaker":"Preet Banerjee","startTime":2395.92,"endTime":2399.34,"body":"Interesting times to say the"},{"speaker":"Preet Banerjee","startTime":2399.34,"endTime":2403.09,"body":"least When this is all over, are"},{"speaker":"Preet Banerjee","startTime":2399.34,"endTime":2403.09,"body":"you going to? Are you going to"},{"speaker":"Preet Banerjee","startTime":2403.09,"endTime":2405.1,"body":"upgrade your bike? Or are you"},{"speaker":"Preet Banerjee","startTime":2403.09,"endTime":2405.1,"body":"happy with your bike? What's"},{"speaker":"Preet Banerjee","startTime":2405.1,"endTime":2405.52,"body":"going on?"},{"speaker":"Silvio Stroescu","startTime":2406.089,"endTime":2408.609,"body":"Hey, look where"},{"speaker":"Silvio Stroescu","startTime":2406.089,"endTime":2408.609,"body":"we're celebrating and what we're"},{"speaker":"Silvio Stroescu","startTime":2408.609,"endTime":2411.219,"body":"celebrating, frankly, it's just"},{"speaker":"Silvio Stroescu","startTime":2408.609,"endTime":2411.219,"body":"that bigger story of it's an"},{"speaker":"Silvio Stroescu","startTime":2411.219,"endTime":2414.009,"body":"army of demand, right? I mean,"},{"speaker":"Silvio Stroescu","startTime":2411.219,"endTime":2414.009,"body":"like it's a privileged position"},{"speaker":"Silvio Stroescu","startTime":2414.009,"endTime":2417.549,"body":"to be in an industry that sees"},{"speaker":"Silvio Stroescu","startTime":2414.009,"endTime":2417.549,"body":"the level of demand. So, so"},{"speaker":"Silvio Stroescu","startTime":2417.549,"endTime":2420.099,"body":"super, super happy about this."},{"speaker":"Silvio Stroescu","startTime":2417.549,"endTime":2420.099,"body":"And thanks for giving me the"},{"speaker":"Silvio Stroescu","startTime":2420.099,"endTime":2423.699,"body":"opportunity to jump on here. We"},{"speaker":"Silvio Stroescu","startTime":2420.099,"endTime":2423.699,"body":"have to be responsive, as you"},{"speaker":"Silvio Stroescu","startTime":2423.699,"endTime":2426.189,"body":"know, through social channels"},{"speaker":"Silvio Stroescu","startTime":2423.699,"endTime":2426.189,"body":"and making sure that our clients"},{"speaker":"Silvio Stroescu","startTime":2426.189,"endTime":2428.619,"body":"understand what's happening and"},{"speaker":"Silvio Stroescu","startTime":2426.189,"endTime":2428.619,"body":"why and what we've done about it"},{"speaker":"Silvio Stroescu","startTime":2428.619,"endTime":2431.259,"body":"just in terms of our"},{"speaker":"Silvio Stroescu","startTime":2428.619,"endTime":2431.259,"body":"accountability. I'm not"},{"speaker":"Silvio Stroescu","startTime":2431.259,"endTime":2434.319,"body":"upgrading my bike. Now I have a"},{"speaker":"Silvio Stroescu","startTime":2431.259,"endTime":2434.319,"body":"bike that I'm happy with right"},{"speaker":"Silvio Stroescu","startTime":2434.319,"endTime":2436.989,"body":"now. My goal would be to get out"},{"speaker":"Silvio Stroescu","startTime":2434.319,"endTime":2436.989,"body":"there a little bit more and"},{"speaker":"Silvio Stroescu","startTime":2436.989,"endTime":2440.709,"body":"write a bit more next summer."},{"speaker":"Silvio Stroescu","startTime":2436.989,"endTime":2440.709,"body":"And that's that's the goal for"},{"speaker":"Silvio Stroescu","startTime":2440.709,"endTime":2443.589,"body":"the year, but it's not a year of"},{"speaker":"Silvio Stroescu","startTime":2440.709,"endTime":2443.589,"body":"the upgrade. I actually,"},{"speaker":"Preet Banerjee","startTime":2444.429,"endTime":2448.839,"body":"I'm in right"},{"speaker":"Preet Banerjee","startTime":2444.429,"endTime":2448.839,"body":"now. Listen, I'm not allowed to"},{"speaker":"Preet Banerjee","startTime":2448.839,"endTime":2453.069,"body":"get a new motorcycle. What ended"},{"speaker":"Preet Banerjee","startTime":2448.839,"endTime":2453.069,"body":"up happening was my partner was"},{"speaker":"Preet Banerjee","startTime":2453.069,"endTime":2457.749,"body":"on the balcony and we overlook"},{"speaker":"Preet Banerjee","startTime":2453.069,"endTime":2457.749,"body":"the gardener. And I think you"},{"speaker":"Preet Banerjee","startTime":2457.749,"endTime":2462.429,"body":"know this but I had a Ducati and"},{"speaker":"Preet Banerjee","startTime":2457.749,"endTime":2462.429,"body":"it was stolen. And I've been"},{"speaker":"Preet Banerjee","startTime":2462.429,"endTime":2465.549,"body":"thinking about getting a new"},{"speaker":"Preet Banerjee","startTime":2462.429,"endTime":2465.549,"body":"bike to replace it and she's out"},{"speaker":"Preet Banerjee","startTime":2465.549,"endTime":2467.949,"body":"on the balcony I was in the"},{"speaker":"Preet Banerjee","startTime":2465.549,"endTime":2467.949,"body":"office and all all of a sudden I"},{"speaker":"Preet Banerjee","startTime":2467.949,"endTime":2472.059,"body":"hear just hear this this is yell"},{"speaker":"Preet Banerjee","startTime":2467.949,"endTime":2472.059,"body":"you're not allowed to get a new"},{"speaker":"Preet Banerjee","startTime":2472.059,"endTime":2475.179,"body":"bike. Like what the heck"},{"speaker":"Preet Banerjee","startTime":2472.059,"endTime":2475.179,"body":"happened? Someone just got"},{"speaker":"Preet Banerjee","startTime":2475.179,"endTime":2478.359,"body":"smoked on the highway, right"},{"speaker":"Preet Banerjee","startTime":2475.179,"endTime":2478.359,"body":"like in front of her like from"},{"speaker":"Preet Banerjee","startTime":2478.359,"endTime":2481.719,"body":"the balcony she could see So"},{"speaker":"Preet Banerjee","startTime":2478.359,"endTime":2481.719,"body":"that pretty much was the nail in"},{"speaker":"Preet Banerjee","startTime":2481.719,"endTime":2484.959,"body":"the coffin. I am not allowed to"},{"speaker":"Preet Banerjee","startTime":2481.719,"endTime":2484.959,"body":"get into the bike that she knows"},{"speaker":"Preet Banerjee","startTime":2484.959,"endTime":2485.259,"body":"of."},{"speaker":"Silvio Stroescu","startTime":2487.09,"endTime":2488.8,"body":"They're always"},{"speaker":"Silvio Stroescu","startTime":2487.09,"endTime":2488.8,"body":"they're always tracks right"},{"speaker":"Silvio Stroescu","startTime":2488.8,"endTime":2490.3,"body":"tracks are also an option,"},{"speaker":"Silvio Stroescu","startTime":2488.8,"endTime":2490.3,"body":"right?"},{"speaker":"Preet Banerjee","startTime":2490.78,"endTime":2493.78,"body":"Exactly. Yeah,"},{"speaker":"Preet Banerjee","startTime":2490.78,"endTime":2493.78,"body":"exactly. There's private roads."},{"speaker":"Preet Banerjee","startTime":2493.81,"endTime":2497.92,"body":"There's the drag strip, there's"},{"speaker":"Preet Banerjee","startTime":2493.81,"endTime":2497.92,"body":"dirt biking. See? Thank you so"},{"speaker":"Preet Banerjee","startTime":2497.92,"endTime":2499.87,"body":"much Silvio. It's, it's been a"},{"speaker":"Preet Banerjee","startTime":2497.92,"endTime":2499.87,"body":"pleasure."},{"speaker":"Silvio Stroescu","startTime":2500.23,"endTime":2501.97,"body":"Likewise,"},{"speaker":"Silvio Stroescu","startTime":2500.23,"endTime":2501.97,"body":"pleasure to connect and thanks"},{"speaker":"Silvio Stroescu","startTime":2501.97,"endTime":2504.16,"body":"for the opportunity. Cheers and"},{"speaker":"Silvio Stroescu","startTime":2501.97,"endTime":2504.16,"body":"keep safe."}]}