Alan Villalon: Go ahead, Katie.
Katie Lorenson: Okay. Thanks, Alan. So in regards to just top line revenue growth certainly stable improving markets will help both of those divisions. From a momentum standpoint in both business lines we continue to add new clients, core client business really within our sweet spot and within our target markets. The initiatives, I speak to are really about improving efficiencies and margins in the business as well as opening up additional capacity to continue to bring on that new business. So we have some initiatives where we’re seeing early success. I think it’s still a little bit too early to call but definitely putting the right processes in place to really grow this and are seeing some early indications of success. With that, I think, I’ll turn it over to you Al in terms of guidance.
Alan Villalon: Yeah. So, just as we think about next year, I mean the $15.3 million for lease retirement is the launch point which we talked about. We’ll see probably gradual improvement in there, because only about 35% of our revenues there are market sensitive. So the rest of it is really kind of growth and plans and participants which we would continue to see growth in that area. So we’re pretty optimistic on that side.
Nathan Race: Okay. Got it.
Alan Villalon: And then, Jim is there anything you want to add on there?
Jim Collins: Nate, I was just going to — this is Jim Collins. I was just going to add and reiterate really what Katie said is, our expectation of core new client growth from our existing staff due to the oncoming of the private banking team and the synergies that those teams are building. I think is really important that we will see that growth. In addition we’ve instituted a much more aggressive recruiting plan for those lower entry-level advisers that can help harvest out of the 401(k) rollovers. So I think that’s what we’ll see additional growth next year.
Nathan Race: Got it. Very helpful and just maybe one last one for Katie, curious if you’re kind of more or less optimistic today on potential acquisitions on the retirement side of things in light of what you’re seeing from a pricing perspective in your discussions with potential partners and what you’re seeing from a competitive perspective relative to other entities that are also maybe looking to expand in that space.
Katie Lorenson: I think we sit very well-positioned from a competitive standpoint in all of our business lines. I think our company has got a really unique story to tell and a very strong reputation. And that in and of itself is having more volume of calls, coming our direction in terms of interest in looking to potentially partner with us. So we’ll continue to be very prudent and disciplined as we look at those opportunities. But I would say the momentum is trending in the right direction for future talent lift-out strategic opportunistic acquisitions.
Nathan Race: Got it. That’s great to hear. I appreciate all the color and thank you guys for taking my questions.
Katie Lorenson: Thanks Nate.
Jim Collins: Thanks Nate.
Operator: Our next question comes from Damon DelMonte from KBW. Damon, your line is now open. Please go ahead.
Matt Renck: This is Matt Renck from KBW, filling in for Damon DelMonte. I hope everybody is doing well. Most of my questions have been asked and answered,…
Jim Collins: Hey Matt.
Matt Renck: …but this is a follow-up. Hi. Just as a follow-up the IRA roller is $100 million just to put some context around that number where do you think you could grow that to in 2024 with the new initiatives?
Katie Lorenson: Sure. Just for context that’s about an 8% capture rate today and has been mostly on the reactive side and the initiatives are really around proactive reach out to these individuals at a very timely way and high-touch way. And then, as Jim referenced continuing to build our talent pool with the opportunity then we are a very — we have a differentiator in attracting that talent to our company because of this opportunity. So we anticipate continuing to see that capture rate of 8% increasing.
