Schwab Reports Monthly Activity Highlights
The Charles Schwab Corporation announced its Monthly Activity Report for November 2022, highlighting core net new assets of $33.1 billion from new and existing clients. Excluding mutual fund clearing, net new assets reached $35.0 billion. Total client assets stood at $7.32 trillion, reflecting an 8% decline from November 2021 but a 5% increase from October 2022. Client cash represented 11.5% of total assets, an increase from 10.5% in November 2021 and a decrease from 12.2% in October 2022.
- Core net new assets of $33.1 billion from clients.
- Increase in net new assets to $35.0 billion (excluding mutual fund clearing).
- Total client assets increased by 5% compared to October 2022.
- Total client assets decreased by 8% compared to November 2021.
- Client cash as a percentage of assets decreased from 12.2% in October 2022 to 11.5% in November 2022.
-
Core net new assets brought to the company by new and existing clients totaled
. Net new assets excluding mutual fund clearing totaled$33.1 billion .$35.0 billion -
Total client assets were
as of month-end November, down$7.32 trillion 8% fromNovember 2021 and up5% compared toOctober 2022 . -
Client cash as a percentage of assets was
11.5% as of month-end November, compared with10.5% inNovember 2021 and12.2% inOctober 2022 .
Commentary from the CFO
About Charles Schwab
The Charles Schwab Corporation Monthly Activity Report For |
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2021 |
2022 |
Change | |||||||||||||||||||||||||||||||||||||||||||
Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Mo. | Yr. | |||||||||||||||||||||||||||||||
Market Indices (at month end) | |||||||||||||||||||||||||||||||||||||||||||||
Dow Jones Industrial Average® | 34,484 |
|
36,338 |
|
35,132 |
|
33,893 |
|
34,678 |
|
32,977 |
|
32,990 |
|
30,775 |
|
32,845 |
|
31,510 |
|
28,726 |
|
32,733 |
|
34,590 |
|
6 |
% |
- |
|
|||||||||||||||
Nasdaq Composite® | 15,538 |
|
15,645 |
|
14,240 |
|
13,751 |
|
14,221 |
|
12,335 |
|
12,081 |
|
11,029 |
|
12,391 |
|
11,816 |
|
10,576 |
|
10,988 |
|
11,468 |
|
4 |
% |
(26 |
%) |
|||||||||||||||
Standard & Poor’s® 500 | 4,567 |
|
4,766 |
|
4,516 |
|
4,374 |
|
4,530 |
|
4,132 |
|
4,132 |
|
3,785 |
|
4,130 |
|
3,955 |
|
3,586 |
|
3,872 |
|
4,080 |
|
5 |
% |
(11 |
%) |
|||||||||||||||
Client Assets (in billions of dollars) | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Client Assets | 7,982.3 |
|
7,918.3 |
|
8,138.0 |
|
7,803.8 |
|
7,686.6 |
|
7,862.1 |
|
7,284.4 |
|
7,301.7 |
|
6,832.5 |
|
7,304.8 |
|
7,127.6 |
|
6,644.2 |
|
7,004.6 |
|
|||||||||||||||||||
Net New Assets (1) | 31.4 |
|
80.3 |
|
33.6 |
|
40.6 |
|
46.3 |
|
(9.2 |
) |
32.8 |
|
19.8 |
|
31.5 |
|
43.3 |
|
39.8 |
|
42.0 |
|
33.1 |
|
(21 |
%) |
5 |
% |
|||||||||||||||
(95.4 |
) |
139.4 |
|
(367.8 |
) |
(157.8 |
) |
129.2 |
|
(568.5 |
) |
(15.5 |
) |
(489.0 |
) |
440.8 |
|
(220.5 |
) |
(523.2 |
) |
318.4 |
|
282.9 |
|
||||||||||||||||||||
Total Client Assets (at month end) | 7,918.3 |
|
8,138.0 |
|
7,803.8 |
|
7,686.6 |
|
7,862.1 |
|
7,284.4 |
|
7,301.7 |
|
6,832.5 |
|
7,304.8 |
|
7,127.6 |
|
6,644.2 |
|
7,004.6 |
|
7,320.6 |
|
5 |
% |
(8 |
%) |
|||||||||||||||
Core Net New Assets (2) | 45.1 |
|
80.3 |
|
33.6 |
|
40.6 |
|
46.3 |
|
(9.2 |
) |
32.8 |
|
40.6 |
|
31.5 |
|
43.3 |
|
39.8 |
|
42.0 |
|
33.1 |
|
(21 |
%) |
(27 |
%) |
|||||||||||||||
Receiving Ongoing Advisory Services (at month end) | |||||||||||||||||||||||||||||||||||||||||||||
Investor Services | 543.1 |
|
559.2 |
|
541.9 |
|
533.7 |
|
538.9 |
|
509.3 |
|
513.0 |
|
483.8 |
|
514.8 |
|
499.2 |
|
466.6 |
|
487.3 |
|
514.0 |
|
5 |
% |
(5 |
%) |
|||||||||||||||
Advisor Services (3) | 3,374.3 |
|
3,505.2 |
|
3,382.4 |
|
3,342.5 |
|
3,404.6 |
|
3,190.5 |
|
3,213.8 |
|
3,040.4 |
|
3,222.5 |
|
3,150.5 |
|
2,950.9 |
|
3,106.0 |
|
3,270.5 |
|
5 |
% |
(3 |
%) |
|||||||||||||||
Client Accounts (at month end, in thousands) | |||||||||||||||||||||||||||||||||||||||||||||
Active Brokerage Accounts (4) | 32,942 |
|
33,165 |
|
33,308 |
|
33,421 |
|
33,577 |
|
33,759 |
|
33,822 |
|
33,896 |
|
33,934 |
|
33,984 |
|
33,875 |
|
33,896 |
|
33,636 |
|
(1 |
%) |
2 |
% |
|||||||||||||||
Banking Accounts | 1,608 |
|
1,614 |
|
1,628 |
|
1,641 |
|
1,641 |
|
1,652 |
|
1,658 |
|
1,669 |
|
1,680 |
|
1,690 |
|
1,696 |
|
1,706 |
|
1,705 |
|
- |
|
6 |
% |
|||||||||||||||
Corporate Retirement Plan Participants | 2,198 |
|
2,200 |
|
2,216 |
|
2,235 |
|
2,246 |
|
2,261 |
|
2,275 |
|
2,275 |
|
2,267 |
|
2,285 |
|
2,305 |
|
2,322 |
|
2,336 |
|
1 |
% |
6 |
% |
|||||||||||||||
Client Activity | |||||||||||||||||||||||||||||||||||||||||||||
New Brokerage Accounts (in thousands) | 448 |
|
473 |
|
426 |
|
356 |
|
420 |
|
386 |
|
323 |
|
305 |
|
278 |
|
332 |
|
287 |
|
298 |
|
303 |
|
2 |
% |
(32 |
%) |
|||||||||||||||
Client Cash as a Percentage of Client Assets (5) | 10.5 |
% |
10.9 |
% |
11.3 |
% |
11.5 |
% |
11.4 |
% |
11.9 |
% |
12.0 |
% |
12.8 |
% |
12.0 |
% |
12.1 |
% |
12.9 |
% |
12.2 |
% |
11.5 |
% |
(70) bp | 100 bp | |||||||||||||||||
Derivative Trades as a Percentage of Total Trades | 23.4 |
% |
23.0 |
% |
22.4 |
% |
24.0 |
% |
22.4 |
% |
21.9 |
% |
22.6 |
% |
22.3 |
% |
24.2 |
% |
23.3 |
% |
23.6 |
% |
24.1 |
% |
24.6 |
% |
50 bp | 120 bp | |||||||||||||||||
Selected Average Balances (in millions of dollars) | |||||||||||||||||||||||||||||||||||||||||||||
Average Interest-Earning Assets (6) | 584,362 |
|
605,709 |
|
622,997 |
|
629,042 |
|
644,768 |
|
636,668 |
|
620,157 |
|
614,100 |
|
605,751 |
|
586,154 |
|
568,351 |
|
552,631 |
|
527,019 |
|
(5 |
%) |
(10 |
%) |
|||||||||||||||
Average Margin Balances | 87,311 |
|
88,328 |
|
86,737 |
|
84,354 |
|
81,526 |
|
83,762 |
|
78,841 |
|
74,577 |
|
72,177 |
|
72,855 |
|
73,224 |
|
69,188 |
|
66,011 |
|
(5 |
%) |
(24 |
%) |
|||||||||||||||
Average Bank Deposit Account Balances (7) | 153,877 |
|
154,918 |
|
157,706 |
|
153,824 |
|
155,657 |
|
152,653 |
|
154,669 |
|
155,306 |
|
154,542 |
|
148,427 |
|
141,198 |
|
136,036 |
|
130,479 |
|
(4 |
%) |
(15 |
%) |
|||||||||||||||
Equities | 13,099 |
|
11,519 |
|
7,384 |
|
9,371 |
|
14,177 |
|
(786 |
) |
1,889 |
|
(1,586 |
) |
5,589 |
|
10,465 |
|
(2,662 |
) |
3,984 |
|
3,777 |
|
|||||||||||||||||||
Hybrid | 308 |
|
(1,207 |
) |
(367 |
) |
(478 |
) |
(497 |
) |
(529 |
) |
(1,718 |
) |
(1,054 |
) |
(2,041 |
) |
(783 |
) |
(938 |
) |
(1,380 |
) |
(2,052 |
) |
|||||||||||||||||||
Bonds | 4,097 |
|
5,600 |
|
1,804 |
|
(1,973 |
) |
(7,851 |
) |
(6,933 |
) |
(6,121 |
) |
(5,631 |
) |
729 |
|
(141 |
) |
(5,801 |
) |
(7,218 |
) |
(3,721 |
) |
|||||||||||||||||||
Mutual Funds (8) | 189 |
|
(2,859 |
) |
(4,961 |
) |
(6,318 |
) |
(11,888 |
) |
(16,657 |
) |
(20,761 |
) |
(16,258 |
) |
(8,674 |
) |
(7,117 |
) |
(15,200 |
) |
(18,473 |
) |
(17,143 |
) |
|||||||||||||||||||
Exchange-Traded Funds (9) | 17,315 |
|
18,771 |
|
13,782 |
|
13,238 |
|
17,717 |
|
8,409 |
|
14,811 |
|
7,987 |
|
12,951 |
|
16,658 |
|
5,799 |
|
13,859 |
|
15,147 |
|
|||||||||||||||||||
Money Market Funds | (1,725 |
) |
(144 |
) |
(1,984 |
) |
(1,086 |
) |
(1,344 |
) |
(3,430 |
) |
7,106 |
|
11,544 |
|
13,711 |
|
19,702 |
|
17,018 |
|
21,542 |
|
16,929 |
|
|
Note: Certain supplemental details related to the information above can be found at: https://www.aboutschwab.com/financial-reports. | |
(1) |
||
(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) |
||
(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. |
|
(7) |
Represents average TD Ameritrade 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. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20221214005359/en/
MEDIA:
Charles Schwab
Phone: 415-667-1525
INVESTORS/ANALYSTS:
Charles Schwab
Phone: 415-667-1524
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FAQ
What were the core net new assets for Charles Schwab in November 2022?
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