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Charles Schwab Corp

Schwab Reports Monthly Activity Highlights

SAN FRANCISCO--(BUSINESS WIRE)--Nov. 14, 2019-- The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of October 2019 include:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191114005208/en/

  • Core net new assets brought to the company by new and existing clients totaled $24.1 billion. Net new assets excluding mutual fund clearing totaled $22.6 billion.
  • Total client assets were a record $3.85 trillion as of month-end October, up 14% from October 2018 and up 2% compared to September 2019.
  • New brokerage accounts were 142,000 in October, up 7% from October 2018 and up 31% compared to September 2019.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 365 offices and 12.2 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.4 million banking accounts, and $3.85 trillion in client assets as of October 31, 2019. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.schwab.com and https://www.aboutschwab.com.

         
The Charles Schwab Corporation Monthly Activity Report For October 2019
         
 

2018

2019

Change
  Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Mo.   Yr.
Market Indices (at month end)        
Dow Jones Industrial Average  

25,116

 

25,538

 

23,327

 

25,000

 

25,916

 

25,929

 

26,593

 

24,815

 

26,600

 

26,864

 

26,403

 

26,917

 

27,046

 

-

 

 

8

%

Nasdaq Composite  

7,306

 

7,331

 

6,635

 

7,282

 

7,533

 

7,729

 

8,095

 

7,453

 

8,006

 

8,175

 

7,963

 

7,999

 

8,292

 

4

%

 

13

%

Standard & Poor’s 500  

2,712

 

2,760

 

2,507

 

2,704

 

2,784

 

2,834

 

2,946

 

2,752

 

2,942

 

2,980

 

2,926

 

2,977

 

3,038

 

2

%

 

12

%

Client Assets (in billions of dollars)        
Beginning Client Assets  

3,563.7

 

3,388.1

 

3,431.9

 

3,252.2

 

3,447.7

 

3,533.0

 

3,585.4

 

3,668.5

 

3,530.6

 

3,702.4

 

3,746.7

 

3,716.5

 

3,768.4

 

     
Net New Assets (1)  

14.9

 

15.6

 

24.8

 

15.1

 

18.3

 

18.3

 

(0.3

)

17.3

 

20.2

 

19.3

 

19.9

 

17.4

 

35.2

 

102

%

 

136

%

Net Market (Losses) Gains  

(190.5

)

28.2

 

(204.5

)

180.4

 

67.0

 

34.1

 

83.4

 

(155.2

)

151.6

 

25.0

 

(50.1

)

34.5

 

51.0

 

     
Total Client Assets (at month end)  

3,388.1

 

3,431.9

 

3,252.2

 

3,447.7

 

3,533.0

 

3,585.4

 

3,668.5

 

3,530.6

 

3,702.4

 

3,746.7

 

3,716.5

 

3,768.4

 

3,854.6

 

2

%

 

14

%

Core Net New Assets (2)  

14.9

 

15.6

 

24.8

 

15.1

 

18.3

 

18.3

 

(0.3

)

17.3

 

20.2

 

19.3

 

19.9

 

17.4

 

24.1

 

39

%

 

62

%

Receiving Ongoing Advisory Services (at month end)        
Investor Services  

280.3

 

284.7

 

272.4

 

286.9

 

294.2

 

298.4

 

305.7

 

298.5

 

311.6

 

314.8

 

314.2

 

318.5

 

324.6

 

2

%

 

16

%

Advisor Services (3)  

1,485.8

 

1,510.1

 

1,436.1

 

1,514.2

 

1,551.6

 

1,572.8

 

1,608.0

 

1,554.6

 

1,626.6

 

1,646.1

 

1,635.7

 

1,659.4

 

1,691.6

 

2

%

 

14

%

Client Accounts (at month end, in thousands)        
Active Brokerage Accounts  

11,479

 

11,529

 

11,593

 

11,653

 

11,712

 

11,787

 

11,870

 

11,929

 

11,967

 

12,026

 

12,085

 

12,118

 

12,189

 

1

%

 

6

%

Banking Accounts (4)  

1,289

 

1,297

 

1,302

 

1,312

 

1,313

 

1,300

 

1,310

 

1,323

 

1,336

 

1,352

 

1,361

 

1,361

 

1,374

 

1

%

 

7

%

Corporate Retirement Plan Participants  

1,634

 

1,639

 

1,655

 

1,679

 

1,685

 

1,684

 

1,690

 

1,699

 

1,698

 

1,701

 

1,711

 

1,718

 

1,735

 

1

%

 

6

%

Client Activity        
New Brokerage Accounts (in thousands)  

133

 

115

 

132

 

131

 

115

 

140

 

147

 

123

 

116

 

129

 

126

 

108

 

142

 

31

%

 

7

%

Inbound Calls (in thousands)  

1,976

 

1,681

 

1,839

 

1,924

 

1,742

 

1,882

 

1,966

 

1,671

 

1,595

 

1,773

 

1,759

 

1,570

 

1,771

 

13

%

 

(10

%)

Web Logins (in thousands)  

59,261

 

54,654

 

53,920

 

64,563

 

60,121

 

63,692

 

65,669

 

61,522

 

60,824

 

65,809

 

63,928

 

63,530

 

72,547

 

14

%

 

22

%

Client Cash as a Percentage of Client Assets (5)  

11.1

%

11.2

%

12.8

%

11.7

%

11.5

%

11.3

%

10.9

%

11.3

%

10.9

%

11.0

%

11.3

%

11.4

%

11.3

%

(10)

bp 

 

20

bp 

Mutual Fund and Exchange-Traded Fund        
Net Buys (Sells) (6, 7) (in millions of dollars)        
Large Capitalization Stock  

308

 

331

 

717

 

1,343

 

1,109

 

1,045

 

980

 

1,114

 

206

 

717

 

328

 

23

 

900

 

     
Small / Mid Capitalization Stock  

(1,344

)

(456

)

(1,414

)

1,329

 

638

 

302

 

136

 

(190

)

18

 

10

 

(374

)

(212

)

(458

)

     
International  

(109

)

(418

)

(2,163

)

2,212

 

1,086

 

1,274

 

863

 

(100

)

225

 

744

 

(1,390

)

(355

)

340

 

     
Specialized  

(914

)

(397

)

(2,105

)

124

 

609

 

750

 

(109

)

(440

)

341

 

418

 

353

 

583

 

618

 

     
Hybrid  

(1,313

)

(1,248

)

(2,985

)

(321

)

(309

)

(357

)

(228

)

(316

)

(181

)

(366

)

(569

)

(372

)

(202

)

     
Taxable Bond  

(351

)

(836

)

(4,342

)

3,956

 

2,871

 

1,923

 

3,029

 

1,821

 

2,378

 

3,806

 

2,725

 

2,935

 

2,813

 

     
Tax-Free Bond  

(591

)

(407

)

(409

)

1,184

 

1,111

 

1,133

 

760

 

1,057

 

682

 

960

 

760

 

593

 

809

 

     
Net Buy (Sell) Activity (in millions of dollars)        
Mutual Funds (6)  

(5,734

)

(7,955

)

(21,372

)

6,740

 

2,312

 

1,850

 

1,860

 

86

 

7

 

2,151

 

(1,281

)

(573

)

(473

)

     
Exchange-Traded Funds (7)  

1,420

 

4,524

 

8,671

 

3,087

 

4,803

 

4,220

 

3,571

 

2,860

 

3,662

 

4,138

 

3,114

 

3,768

 

5,293

 

     
Money Market Funds  

2,546

 

8,515

 

13,548

 

4,944

 

(1,577

)

1,785

 

(2,097

)

5,067

 

4,570

 

6,143

 

6,068

 

5,833

 

7,059

 

     
Average Interest-Earning Assets (8)        
(in millions of dollars)  

264,156

 

265,648

 

274,913

 

277,068

 

270,718

 

272,727

 

270,308

 

263,718

 

262,759

 

263,993

 

265,005

 

266,430

 

266,089

 

-

 

 

1

%

(1)

October 2019 includes an inflow of $11.1 billion from a mutual fund clearing services client. 

(2)

Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than $10 billion) relating to a specific client. These flows may span multiple reporting periods.

(3)

Excludes Retirement Business Services.

(4)

In March 2019, banking accounts were reduced by approximately 23,000 as a result of inactive account closures.

(5)

Schwab One®, certain cash equivalents, bank deposits and money market fund balances as a percentage of total client assets. 

(6)

Represents the principal value of client mutual fund transactions handled by Schwab, including transactions in proprietary funds. Includes institutional funds available only to Investment Managers. Excludes money market fund transactions.

(7)

Represents the principal value of client ETF transactions handled by Schwab, including transactions in proprietary ETFs.   

(8)

Represents average total interest-earning assets on the company's balance sheet.

 

Source: Charles Schwab Corporation

MEDIA:
Mayura Hooper
Charles Schwab
Phone: 415-667-1525

INVESTORS/ANALYSTS:
Jeff Edwards
Charles Schwab
Phone: 415-667-1524