GWIM's integrated offering of advisory, lending and banking services to wealth clients generates recurring asset-based fees that compound with market appreciation and net inflows; the integrated model raises switching costs because clients would need to unbundle multiple services to leave.
the thesis · admitted · the reason above is the thesis, not printed twice
no findingread · nothing bore on it
It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.
the evidence · every sentence checkedthree sentences · whole, uncut
the claims it rests on · in our words, not the filing’s