Schwab Reports Monthly Activity Highlights
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240514723050/en/
-
Total net new assets brought to the company by new and existing clients in
April 2024 totaled$10.0 billion , while core net new assets equaled$1.0 billion . These flows reflect client cash disbursements during tax season. -
Total client assets were
$8.85 trillion as of month-end April, up 16% fromApril 2023 and down 3% versusMarch 2024 . -
Transactional sweep cash declined by 3% to end
April 2024 at$387.7 billion . This month-over-month drawdown was driven by several anticipated factors, including client tax disbursements and seasonal advisory fee payments. -
Last weekend, Schwab successfully completed the final Ameritrade client conversion, marking the completion of a historic integration. We are pleased to report that the client account and asset conversion went smoothly. The company will share additional perspectives on this tremendous milestone during its Institutional Investor Day scheduled for
Wednesday, May 22 .
About Charles Schwab
The Charles Schwab Corporation Monthly Activity Report For |
|||||||||||||||||||||||||||||||||||||||||||||
2023 |
2024 |
Change | |||||||||||||||||||||||||||||||||||||||||||
Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | Mo. | Yr. | |||||||||||||||||||||||||||||||
Market Indices (at month end) | |||||||||||||||||||||||||||||||||||||||||||||
Dow Jones Industrial Average® |
34,098 |
|
32,908 |
|
34,408 |
|
35,560 |
|
34,722 |
|
33,508 |
|
33,053 |
|
35,951 |
|
37,690 |
|
38,150 |
|
38,996 |
|
39,807 |
|
37,816 |
|
(5 |
%) |
11 |
% |
|||||||||||||||
Nasdaq Composite® |
12,227 |
|
12,935 |
|
13,788 |
|
14,346 |
|
14,035 |
|
13,219 |
|
12,851 |
|
14,226 |
|
15,011 |
|
15,164 |
|
16,092 |
|
16,379 |
|
15,658 |
|
(4 |
%) |
28 |
% |
|||||||||||||||
Standard & Poor’s® 500 |
4,169 |
|
4,180 |
|
4,450 |
|
4,589 |
|
4,508 |
|
4,288 |
|
4,194 |
|
4,568 |
|
4,770 |
|
4,846 |
|
5,096 |
|
5,254 |
|
5,036 |
|
(4 |
%) |
21 |
% |
|||||||||||||||
Client Assets (in billions of dollars) | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Client Assets |
7,580.0 |
|
7,631.5 |
|
7,650.2 |
|
8,015.8 |
|
8,241.0 |
|
8,094.7 |
|
7,824.5 |
|
7,653.4 |
|
8,180.6 |
|
8,516.6 |
|
8,558.1 |
|
8,879.5 |
|
9,118.4 |
|
|||||||||||||||||||
Net New Assets (1) |
13.6 |
|
24.6 |
|
33.8 |
|
12.9 |
|
8.1 |
|
27.2 |
|
5.0 |
|
19.2 |
|
42.1 |
|
14.8 |
|
31.7 |
|
41.7 |
|
10.0 |
|
(76 |
%) |
(26 |
%) |
|||||||||||||||
|
37.9 |
|
(5.9 |
) |
331.8 |
|
212.3 |
|
(154.4 |
) |
(297.4 |
) |
(176.1 |
) |
508.0 |
|
293.9 |
|
26.7 |
|
289.7 |
|
197.2 |
|
(280.9 |
) |
|||||||||||||||||||
Total Client Assets (at month end) |
7,631.5 |
|
7,650.2 |
|
8,015.8 |
|
8,241.0 |
|
8,094.7 |
|
7,824.5 |
|
7,653.4 |
|
8,180.6 |
|
8,516.6 |
|
8,558.1 |
|
8,879.5 |
|
9,118.4 |
|
8,847.5 |
|
(3 |
%) |
16 |
% |
|||||||||||||||
Core Net New Assets (1,2) |
(2.3 |
) |
20.7 |
|
33.8 |
|
13.7 |
|
4.9 |
|
27.1 |
|
11.3 |
|
21.7 |
|
43.1 |
|
17.2 |
|
33.4 |
|
45.0 |
|
1.0 |
|
(98 |
%) |
143 |
% |
|||||||||||||||
Receiving Ongoing Advisory Services (at month end) | |||||||||||||||||||||||||||||||||||||||||||||
Investor Services |
530.7 |
|
526.3 |
|
547.5 |
|
560.6 |
|
552.2 |
|
533.0 |
|
522.2 |
|
557.0 |
|
581.4 |
|
584.1 |
|
601.8 |
|
618.5 |
|
602.2 |
|
(3 |
%) |
13 |
% |
|||||||||||||||
Advisor Services (3) |
3,394.9 |
|
3,377.8 |
|
3,527.8 |
|
3,619.8 |
|
3,554.2 |
|
3,448.0 |
|
3,380.3 |
|
3,604.4 |
|
3,757.4 |
|
3,780.4 |
|
3,902.5 |
|
4,009.5 |
|
3,893.9 |
|
(3 |
%) |
15 |
% |
|||||||||||||||
Client Accounts (at month end, in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Active Brokerage Accounts |
34,248 |
|
34,311 |
|
34,382 |
|
34,434 |
|
34,440 |
|
34,540 |
|
34,571 |
|
34,672 |
|
34,838 |
|
35,017 |
|
35,127 |
|
35,301 |
|
35,426 |
|
- |
|
3 |
% |
|||||||||||||||
Banking Accounts |
1,757 |
|
1,768 |
|
1,781 |
|
1,792 |
|
1,798 |
|
1,799 |
|
1,812 |
|
1,825 |
|
1,838 |
|
1,856 |
|
1,871 |
|
1,885 |
|
1,901 |
|
1 |
% |
8 |
% |
|||||||||||||||
Workplace Plan Participant Accounts (4) |
4,869 |
|
4,962 |
|
5,003 |
|
5,030 |
|
5,037 |
|
5,141 |
|
5,212 |
|
5,212 |
|
5,221 |
|
5,226 |
|
5,268 |
|
5,277 |
|
5,282 |
|
- |
|
8 |
% |
|||||||||||||||
Client Activity | |||||||||||||||||||||||||||||||||||||||||||||
New Brokerage Accounts (in thousands) |
331 |
|
314 |
|
315 |
|
303 |
|
311 |
|
280 |
|
284 |
|
286 |
|
340 |
|
366 |
|
345 |
|
383 |
|
361 |
|
(6 |
%) |
9 |
% |
|||||||||||||||
Client Cash as a Percentage of Client Assets (5,6) |
10.8 |
% |
10.9 |
% |
10.5 |
% |
10.2 |
% |
10.4 |
% |
10.8 |
% |
11.2 |
% |
10.7 |
% |
10.5 |
% |
10.5 |
% |
10.2 |
% |
10.0 |
% |
10.2 |
% |
20 bp | (60) bp | |||||||||||||||||
Derivative Trades as a Percentage of Total Trades |
23.4 |
% |
23.5 |
% |
23.9 |
% |
23.0 |
% |
24.4 |
% |
24.2 |
% |
23.2 |
% |
23.1 |
% |
21.8 |
% |
21.8 |
% |
22.2 |
% |
21.9 |
% |
22.1 |
% |
20 bp | (130) bp | |||||||||||||||||
Selected Average Balances (in millions of dollars) | |||||||||||||||||||||||||||||||||||||||||||||
Average Interest-Earning Assets (7) |
493,215 |
|
483,438 |
|
479,752 |
|
466,659 |
|
449,483 |
|
444,864 |
|
438,522 |
|
439,118 |
|
446,305 |
|
443,694 |
|
434,822 |
|
431,456 |
|
423,532 |
|
(2 |
%) |
(14 |
%) |
|||||||||||||||
Average Margin Balances |
60,338 |
|
60,250 |
|
61,543 |
|
63,040 |
|
64,226 |
|
64,014 |
|
63,946 |
|
61,502 |
|
62,309 |
|
61,368 |
|
63,600 |
|
66,425 |
|
68,827 |
|
4 |
% |
14 |
% |
|||||||||||||||
Average Bank Deposit Account Balances (8) |
104,775 |
|
103,149 |
|
102,917 |
|
102,566 |
|
101,928 |
|
100,404 |
|
97,893 |
|
94,991 |
|
95,518 |
|
95,553 |
|
92,075 |
|
90,774 |
|
88,819 |
|
(2 |
%) |
(15 |
%) |
|||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||
Equities |
1,126 |
|
(1,366 |
) |
9,190 |
|
7,423 |
|
(278 |
) |
675 |
|
(3,039 |
) |
6,099 |
|
7,903 |
|
8,182 |
|
7,624 |
|
10,379 |
|
3,472 |
|
|||||||||||||||||||
Hybrid |
(462 |
) |
(889 |
) |
(903 |
) |
(407 |
) |
(1,037 |
) |
(828 |
) |
(1,457 |
) |
(1,466 |
) |
(1,596 |
) |
(501 |
) |
(1,330 |
) |
(439 |
) |
(703 |
) |
|||||||||||||||||||
Bonds |
2,575 |
|
2,029 |
|
3,302 |
|
2,515 |
|
4,696 |
|
2,723 |
|
1,094 |
|
255 |
|
6,104 |
|
7,510 |
|
9,883 |
|
7,561 |
|
5,949 |
|
|||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||
Mutual Funds (9) |
(4,904 |
) |
(7,157 |
) |
(4,485 |
) |
(3,333 |
) |
(6,476 |
) |
(5,853 |
) |
(12,245 |
) |
(9,267 |
) |
(7,406 |
) |
(966 |
) |
(1,348 |
) |
(1,607 |
) |
(4,818 |
) |
|||||||||||||||||||
Exchange-Traded Funds (10) |
8,143 |
|
6,931 |
|
16,074 |
|
12,864 |
|
9,857 |
|
8,423 |
|
8,843 |
|
14,155 |
|
19,817 |
|
16,157 |
|
17,525 |
|
19,108 |
|
13,536 |
|
|||||||||||||||||||
Money Market Funds |
6,291 |
|
15,256 |
|
9,112 |
|
7,911 |
|
16,869 |
|
13,388 |
|
16,976 |
|
11,670 |
|
7,745 |
|
11,717 |
|
10,129 |
|
9,085 |
|
(2,357 |
) |
Note: Certain supplemental details related to the information above can be found at: https://www.aboutschwab.com/financial-reports. |
|
(1) |
Unless otherwise noted, differences between net new assets and core net new assets are net flows from off-platform Schwab Bank Retail CDs. Additionally, 2024 includes an inflow of |
(2) |
Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than |
(3) |
Excludes Retirement Business Services. |
(4) |
Beginning |
(5) |
|
(6) |
Beginning |
(7) |
Represents average total interest-earning assets on the Company's balance sheet. |
(8) |
Represents average clients’ uninvested cash sweep account balances held in deposit accounts at third-party financial institutions. |
(9) |
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. |
(10) |
Represents the principal value of client ETF transactions handled by Schwab, including transactions in proprietary ETFs. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240514723050/en/
MEDIA:
Charles Schwab
Phone: 415-667-1525
INVESTORS/ANALYSTS:
Charles Schwab
Phone: 415-667-1524
Source: