{
  "docId": "019dd923-5e88-73ef-bd58-d2f222cac506",
  "docSlug": "33ff0b30c4e3b9bc",
  "documentTitle": "20240222 JF at BAC Conference",
  "authorId": "MorganStanley",
  "authorName": "Morgan Stanley",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.778,
  "pageNumber": 10,
  "pageCount": 23,
  "prevPage": 9,
  "nextPage": 11,
  "slideType": "key_takeaways",
  "function": "quantify_impact",
  "density": "balanced",
  "nDataPoints": 6,
  "notes": "The slide uses a '1B' label, suggesting it is part of a larger sequence of key messages.",
  "elementsJson": [
    "headline_text",
    "bar_chart_vertical",
    "bar_chart_vertical",
    "bar_chart_vertical"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd58-d2f222cac506/10",
  "deckHref": "/decks/019dd923-5e88-73ef-bd58-d2f222cac506",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd58-d2f222cac506.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd58-d2f222cac506#slide-10",
  "components": [
    {
      "bbox": {
        "h": 0.4,
        "w": 0.25,
        "x": 0.65,
        "y": 0.35
      },
      "kind": "chart",
      "text": "SBL Paydowns as % of Beginning Period Balances",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "00d7efcb-3295-4410-8289-aa3b2c1e2cb1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.25,
        "x": 0.05,
        "y": 0.35
      },
      "kind": "chart",
      "text": "IPO Volumes ($Bn)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4294adf8-d303-4748-a190-938cd082bce3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.25,
        "x": 0.35,
        "y": 0.35
      },
      "kind": "chart",
      "text": "% of Advisor-led Assets in Cash and Cash Equivalents",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7e15b666-1ec2-456a-922f-8de8b69de1ad",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.9,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "disclaimer",
      "text": "The End Notes are an integral part of this Presentation. See slides 18-22 at the back of this presentation for information related to the financial metrics and defined terms in this presentation",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a8089274-75d2-4e4c-9f5f-cd0b5fcbf6ae",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "IPO Volumes: 14",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-2e3b-7048-aa44-1cb0caffa117",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.7,
        "x": 0.05,
        "y": 0.1
      },
      "kind": "title",
      "text": "We Are At Cyclical Lows Suggesting Upside Ahead",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aa8ba484-1101-49f7-98f1-4cf9840fe00a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Action Titles",
      "slug": "action-titles",
      "agent": "Architect",
      "layer": "slide",
      "matchId": "019de776-221f-758f-b2e6-5f3b579c4bb7",
      "evidence": "Title 'Cyclical Lows Suggesting Upside Ahead' is the insight.",
      "confidence": 82
    },
    {
      "name": "Contrast Principle",
      "slug": "contrast-principle",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "019de776-22ad-7548-9baa-9c01197e9658",
      "evidence": "Each chart juxtaposes historical average with depressed current level.",
      "confidence": 78
    },
    {
      "name": "Small Multiples",
      "slug": "small-multiples",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "019de776-224b-7088-9fd7-41b98172af3a",
      "evidence": "Three parallel two-bar charts (IPO, cash, paydowns) historical vs current.",
      "confidence": 85
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 15,
      "from": 6,
      "beatId": "019de776-19f6-720f-9354-8083e1bfa908",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": null,
      "evidence": "p6-11 prove pillar 1 (path-to-advice growth); p12-15 prove pillar 2 (integrated platform, AI, lending).",
      "position": 4,
      "confidence": 78,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "to": 15,
      "from": 10,
      "beatId": "019de776-1afb-7393-a455-1f4f7dcf75f1",
      "arcName": "The Triple Take",
      "arcSlug": "triple-take",
      "beatName": "The Implications (So What)",
      "beatSlug": null,
      "evidence": "Cyclical lows = upside; fee-based runway; integrated platform + AI deepens relationships.",
      "position": 2,
      "confidence": 55,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 11,
      "from": 5,
      "name": "Funnel Analysis",
      "slug": "32-funnel-analysis",
      "bestFor": "Sales optimization, customer journey, process efficiency",
      "matchId": "019de776-1b7a-776a-b293-a9737be60d48",
      "evidence": "p5 explicit funnel (1A add relationships -> 1B grow NNA -> 1C migrate to fee-based); p6 same funnel with 2019/2023 metric pairs; p7-11 zoom into each stage and the headroom.",
      "position": 2,
      "objective": "Prove pillar 1 'Path to Advice' is converting at every funnel stage with runway ahead",
      "structure": "Top of Funnel -> Stage 1 Conversion -> Stage 2 Conversion -> Bottom of Funnel -> The Leak",
      "confidence": 85,
      "description": "Show progressive filtering through stages to identify where drop-off occurs"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}