The Charles Schwab Corporation - SCHW STOCK NEWS

The Charles Schwab Corporation reported strong performance in its January 2023 Monthly Activity Report. The firm attracted $36.1 billion in core net new assets, showing an annualized growth rate of 6%. Total client assets reached $7.48 trillion, a 4% decrease year-over-year but a 6% increase from December 2022. Cash as a percentage of assets was 11.6%, slightly up from 11.3% in January 2022. CFO Peter Crawford highlighted improved investor sentiment and increased allocations to equity and fixed-income securities, which positions Schwab for earnings growth in 2023.

Charles Schwab has been recognized as the top online brokerage by Investor’s Business Daily in its 2023 report. Schwab excelled in seven out of 18 performance categories, including Customer Service and Investment Research, based on feedback from over 3,446 investors. Notably, Schwab remained in the top three for Overall Customer Experience for all 11 years of the survey. Following the acquisition of TD Ameritrade in 2019, Schwab plans to transition TD Ameritrade accounts by year-end, enhancing its service offerings. With around 33.8 million active accounts and $7.05 trillion in client assets, Schwab continues to strengthen its market position.

The Charles Schwab Corporation (NYSE: SCHW) announced a 14% increase in its quarterly cash dividend, raising it to $0.25 per share. This dividend is payable on February 24, 2023, to stockholders on record as of February 10, 2023. Co-Chairman Charles Schwab stated that this increase demonstrates the Board's confidence in the company's capability to grow its earnings and cash flow. Additionally, various dividends were declared for outstanding series of preferred stocks, with payment dates set for March 1, 2023, for eligible stockholders.

The Charles Schwab Corporation has announced its acquisition of The Family Wealth Alliance (FWA), aimed at enhancing resources for family wealth firms serving ultra-high net worth clients. Founded in 2003, FWA connects multifamily advisory firms and provides access to industry research, educational content, and exclusive events. This partnership will leverage Schwab's industry relationships and technology to support growth in the family wealth sector. FWA's leadership team will integrate into Schwab, reinforcing their commitment to serving a diverse clientele. Financial terms of the acquisition remain undisclosed.

Charles Schwab has partnered with Girl Scouts of the USA to modernize financial literacy badges for girls from kindergarten to high school. The new curriculum includes vital topics such as building wealth, entrepreneurship, and budgeting. This initiative aims to bridge the educational gap in financial management skills, empowering girls to navigate their finances confidently. As part of their commitment, Schwab fosters hands-on learning through real-world applications in the Girl Scout Cookie Program.

This partnership is designed to counter gender bias in financial education and provide vital skills for future leaders.

The Charles Schwab Corporation reported a strong financial performance for 2022, with net income rising 25% year-over-year to $2.0 billion in Q4 and a record $7.2 billion for the full year, reflecting a 23% increase. Total net revenues grew by 12% to $20.8 billion, driven by a 33% surge in net interest revenue. The company also gathered $428 billion in core net new assets and added over 4 million new accounts, bringing total accounts to nearly 34 million. Despite challenging market conditions, Schwab's effective strategies contributed to significant organic growth, positioning the firm favorably for future opportunities.

The Charles Schwab Corporation has announced a Winter Business Update for institutional investors scheduled for January 27, from 8:00 a.m. - 1:00 p.m. CT via webcast. This event aims to keep the investment community informed about recent developments and the company's strategic focus. Schwab currently has 33.6 million active brokerage accounts and manages $7.32 trillion in client assets as of November 30, 2022.

Dynasty Financial Partners has successfully completed a minority private capital raise, bringing in Abry Partners and The Charles Schwab Corporation as new investors. This round of funding, which includes additional contributions from existing investors, aims to enhance Dynasty's technology, services, and client investment solutions. The firm plans to utilize the capital for technology investments, expanding its turnkey asset management program, and attracting key talent. Dynasty also intends to pursue strategic acquisitions and liquidity for longtime shareholders. Additionally, they will withdraw their SEC Form S-1 registration statement.