|Phil Sanders||Chief Executive Officer|
|Nicole Russell||Head of Investor Relations|
|Tom Butch||Chief Marketing Officer|
|Brent Bloss||Chief Financial Officer|
|Glenn Schorr||Evercore ISI|
|Craig Siegenthaler||Credit Suisse|
|Michael Carrier||Bank of America Merrill Lynch|
|Dan Fannon||Jefferies & Company|
|Kenneth Lee||RBC Capital Markets|
|Chris Shutler||William Blair|
Good morning ladies and gentlemen and welcome to Waddell & Reed's Third Quarter 2017 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instruction] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please also note that we do ask that you please limit yourselves to one question and a single follow-up.
If you have additional questions, you may rejoin the question queue.