Schwab Reports Monthly Activity Highlights
- Net new assets brought to the company totaled $20.7 billion, with client assets up 5% from May 2022.
- None.
-
Core net new assets brought to the company by new and existing clients totaled
. Net new assets excluding mutual fund clearing totaled$20.7 billion .$24.5 billion -
Total client assets were
as of month-end May, up$7.65 trillion 5% from May 2022 and flat compared to April 2023. -
Client cash as a percentage of assets was
11.5% as of month-end May, compared with12.0% in May 2022 and11.3% in April 2023.
Commentary from the CFO
Peter
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 34.3 million active brokerage accounts, 2.4 million corporate retirement plan participants, 1.8 million banking accounts, and
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.
The Charles Schwab Corporation Monthly Activity Report For May 2023 | ||||||||||||||||||||||||||||||
2022 |
2023 |
Change | ||||||||||||||||||||||||||||
May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Mo. | Yr. | ||||||||||||||||
Market Indices (at month end) | ||||||||||||||||||||||||||||||
Dow Jones Industrial Average® | 32,990 |
|
30,775 |
|
32,845 |
|
31,510 |
|
28,726 |
|
32,733 |
|
34,590 |
|
33,147 |
|
34,086 |
|
32,657 |
|
33,274 |
|
34,098 |
|
32,908 |
|
( |
- |
||
Nasdaq Composite® | 12,081 |
|
11,029 |
|
12,391 |
|
11,816 |
|
10,576 |
|
10,988 |
|
11,468 |
|
10,466 |
|
11,585 |
|
11,456 |
|
12,222 |
|
12,227 |
|
12,935 |
|
|
|
||
Standard & Poor’s® 500 | 4,132 |
|
3,785 |
|
4,130 |
|
3,955 |
|
3,586 |
|
3,872 |
|
4,080 |
|
3,840 |
|
4,077 |
|
3,970 |
|
4,109 |
|
4,169 |
|
4,180 |
|
- |
|
||
Client Assets (in billions of dollars) |
|
|
||||||||||||||||||||||||||||
Beginning Client Assets | 7,284.4 |
|
7,301.7 |
|
6,832.5 |
|
7,304.8 |
|
7,127.6 |
|
6,644.2 |
|
7,004.6 |
|
7,320.6 |
|
7,049.8 |
|
7,480.6 |
|
7,380.2 |
|
7,580.0 |
|
7,631.5 |
|
|
|
||
Net New Assets (1) | 32.8 |
|
19.8 |
|
31.5 |
|
43.3 |
|
39.8 |
|
42.0 |
|
33.1 |
|
53.3 |
|
36.1 |
|
41.7 |
|
72.9 |
|
13.6 |
|
24.6 |
|
|
( |
||
Net Market (Losses) Gains | (15.5 |
) |
(489.0 |
) |
440.8 |
|
(220.5 |
) |
(523.2 |
) |
318.4 |
|
282.9 |
|
(324.1 |
) |
394.7 |
|
(142.1 |
) |
126.9 |
|
37.9 |
|
(5.9 |
) |
|
|
||
Total Client Assets (at month end) | 7,301.7 |
|
6,832.5 |
|
7,304.8 |
|
7,127.6 |
|
6,644.2 |
|
7,004.6 |
|
7,320.6 |
|
7,049.8 |
|
7,480.6 |
|
7,380.2 |
|
7,580.0 |
|
7,631.5 |
|
7,650.2 |
|
- |
|
||
Core Net New Assets (2) | 32.8 |
|
40.6 |
|
31.5 |
|
43.3 |
|
39.8 |
|
42.0 |
|
33.1 |
|
53.3 |
|
36.1 |
|
41.7 |
|
53.9 |
|
(2.3 |
) |
20.7 |
|
N/M |
( |
||
Receiving Ongoing Advisory Services (at month end) |
|
|
||||||||||||||||||||||||||||
Investor Services | 513.0 |
|
483.8 |
|
514.8 |
|
499.2 |
|
466.6 |
|
487.3 |
|
514.0 |
|
499.8 |
|
524.6 |
|
515.5 |
|
526.2 |
|
530.7 |
|
526.3 |
|
( |
|
||
Advisor Services (3) | 3,213.8 |
|
3,040.4 |
|
3,222.5 |
|
3,150.5 |
|
2,950.9 |
|
3,106.0 |
|
3,270.5 |
|
3,173.4 |
|
3,345.4 |
|
3,289.6 |
|
3,369.3 |
|
3,394.9 |
|
3,377.8 |
|
( |
|
||
Client Accounts (at month end, in thousands) |
|
|
||||||||||||||||||||||||||||
Active Brokerage Accounts (4) | 33,822 |
|
33,896 |
|
33,934 |
|
33,984 |
|
33,875 |
|
33,896 |
|
33,636 |
|
33,758 |
|
33,878 |
|
34,010 |
|
34,120 |
|
34,248 |
|
34,311 |
|
- |
|
||
Banking Accounts | 1,658 |
|
1,669 |
|
1,680 |
|
1,690 |
|
1,696 |
|
1,706 |
|
1,705 |
|
1,716 |
|
1,729 |
|
1,733 |
|
1,746 |
|
1,757 |
|
1,768 |
|
|
|
||
Corporate Retirement Plan Participants | 2,275 |
|
2,275 |
|
2,267 |
|
2,285 |
|
2,305 |
|
2,322 |
|
2,336 |
|
2,351 |
|
2,369 |
|
2,384 |
|
2,379 |
|
2,391 |
|
2,401 |
|
- |
|
||
Client Activity |
|
|
||||||||||||||||||||||||||||
New Brokerage Accounts (in thousands) | 323 |
|
305 |
|
278 |
|
332 |
|
287 |
|
298 |
|
303 |
|
330 |
|
344 |
|
320 |
|
378 |
|
331 |
|
314 |
|
( |
( |
||
Client Cash as a Percentage of Client Assets (5) | 12.0 |
% |
12.8 |
% |
12.0 |
% |
12.1 |
% |
12.9 |
% |
12.2 |
% |
11.5 |
% |
12.3 |
% |
11.6 |
% |
11.7 |
% |
11.6 |
% |
11.3 |
% |
11.5 |
% |
20 bp |
(50) bp |
||
Derivative Trades as a Percentage of Total Trades | 22.6 |
% |
22.3 |
% |
24.2 |
% |
23.3 |
% |
23.6 |
% |
24.1 |
% |
24.6 |
% |
23.2 |
% |
23.0 |
% |
23.5 |
% |
22.8 |
% |
23.4 |
% |
23.5 |
% |
10 bp |
90 bp |
||
Selected Average Balances (in millions of dollars) |
|
|
||||||||||||||||||||||||||||
Average Interest-Earning Assets (6) | 620,157 |
|
614,100 |
|
605,751 |
|
586,154 |
|
568,351 |
|
552,631 |
|
527,019 |
|
520,100 |
|
512,893 |
|
503,122 |
|
497,627 |
|
493,215 |
|
483,438 |
|
( |
( |
||
Average Margin Balances | 78,841 |
|
74,577 |
|
72,177 |
|
72,855 |
|
73,224 |
|
69,188 |
|
66,011 |
|
64,759 |
|
60,211 |
|
60,575 |
|
60,848 |
|
60,338 |
|
60,250 |
|
- |
( |
||
Average Bank Deposit Account Balances (7) | 154,669 |
|
155,306 |
|
154,542 |
|
148,427 |
|
141,198 |
|
136,036 |
|
130,479 |
|
126,953 |
|
122,387 |
|
115,816 |
|
109,392 |
|
104,775 |
|
103,149 |
|
( |
( |
||
Mutual Fund and Exchange-Traded Fund |
|
|
||||||||||||||||||||||||||||
Net Buys (Sells) (8,9) (in millions of dollars) |
|
|
||||||||||||||||||||||||||||
Equities | 1,889 |
|
(1,586 |
) |
5,589 |
|
10,465 |
|
(2,662 |
) |
3,984 |
|
3,777 |
|
(1,837 |
) |
7,236 |
|
5,850 |
|
(3,234 |
) |
1,126 |
|
(1,366 |
) |
|
|
||
Hybrid | (1,718 |
) |
(1,054 |
) |
(2,041 |
) |
(783 |
) |
(938 |
) |
(1,380 |
) |
(2,052 |
) |
(1,595 |
) |
(433 |
) |
47 |
|
(1,641 |
) |
(462 |
) |
(889 |
) |
|
|
||
Bonds | (6,121 |
) |
(5,631 |
) |
729 |
|
(141 |
) |
(5,801 |
) |
(7,218 |
) |
(3,721 |
) |
(3,260 |
) |
5,646 |
|
4,281 |
|
6,158 |
|
2,575 |
|
2,029 |
|
|
|
||
Net Buy (Sell) Activity (in millions of dollars) |
|
|
||||||||||||||||||||||||||||
Mutual Funds (8) | (20,761 |
) |
(16,258 |
) |
(8,674 |
) |
(7,117 |
) |
(15,200 |
) |
(18,473 |
) |
(17,143 |
) |
(21,851 |
) |
552 |
|
(2,338 |
) |
(7,423 |
) |
(4,904 |
) |
(7,157 |
) |
|
|
||
Exchange-Traded Funds (9) | 14,811 |
|
7,987 |
|
12,951 |
|
16,658 |
|
5,799 |
|
13,859 |
|
15,147 |
|
15,159 |
|
11,897 |
|
12,516 |
|
8,706 |
|
8,143 |
|
6,931 |
|
|
|
||
Money Market Funds | 7,106 |
|
11,544 |
|
13,711 |
|
19,702 |
|
17,018 |
|
21,542 |
|
16,929 |
|
27,778 |
|
24,285 |
|
23,347 |
|
27,106 |
|
6,291 |
|
15,256 |
|
|
|
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 Certificates of Deposit (CDs) - including March 2023 which reflects inflows 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) |
November 2022 includes the company-initiated closure of approximately 350 thousand low-balance accounts. September 2022 includes the company-initiated closure of approximately 152 thousand low-balance accounts. | |
(5) |
Schwab One®, certain cash equivalents, bank deposits, third-party bank deposit accounts, and money market fund balances as a percentage of total client assets. | |
(6) |
Represents average total interest-earning assets on the company's balance sheet. November 2022 includes the impact of transferring certain investment securities from the available for sale category to the held-to-maturity category. | |
(7) |
Represents average clients’ uninvested cash sweep account balances held in deposit accounts at third-party financial institutions. | |
(8) |
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. | |
(9) |
Represents the principal value of client ETF transactions handled by Schwab, including transactions in proprietary ETFs. | |
N/M - Not meaningful. Percentage changes greater than |
View source version on businesswire.com: https://www.businesswire.com/news/home/20230614330458/en/
MEDIA:
Mayura Hooper
Charles Schwab
Phone: 415-667-1525
INVESTORS/ANALYSTS:
Jeff Edwards
Charles Schwab
Phone: 415-667-1524
Source: The Charles Schwab Corporation
FAQ
What are the net new assets for May 2023?
How much are the total client assets?