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Charles Schwab Announces Strong Core Net New Assets for Period Ending 3/16/23
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
The Charles Schwab Corporation (NYSE: SCHW) reported significant client inflows, with approximately $16.5 billion in core net new assets over the week from 3/10/23 to 3/16/23. This reflects strong client trust, bolstered by Schwab's conservative balance sheet and robust liquidity. The firm serves over 34 million account holders and manages $7.38 trillion in client assets as of February 28, 2023. Schwab remains a stable option for investors, emphasizing its comprehensive range of financial services and commitment to supporting clients in diverse economic environments.
Positive
Core net new assets of approximately $16.5 billion in a week, indicating strong client trust.
Robust liquidity and a conservative balance sheet contribute to investor confidence.
Over 34 million account holders, enhancing the firm's market position.
$7.38 trillion in client assets as of February 28, 2023 demonstrates significant scale.
Negative
None.
WESTLAKE, Texas--(BUSINESS WIRE)--
The Charles Schwab Corporation today announced it has seen strong inflows from clients over the last week. Over the past five trading days (3/10/23-3/16/23), clients have continued to bring assets to Schwab, with approximately $16.5 billion in core net new assets for the week, demonstrating the trust clients place in Schwab.
Charles Schwab remains a safe port in a storm, driven by its conservative balance sheet, strong liquidity position, and diversified base of over 34 million account holders who invest with Charles Schwab every day. We are confident in our approach and in our ability to help clients through all kinds of economic environments.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 34.0 million active brokerage accounts, 2.4 million corporate retirement plan participants, 1.7 million banking accounts, and $7.38 trillion in client assets as of February 28, 2023. 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 subsidiaries, Charles Schwab & Co., Inc., TD Ameritrade, Inc., and TD Ameritrade Clearing, Inc., (members SIPC, https://www.sipc.org), and their 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 primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.
TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.
