Schwab Reports Monthly Activity Highlights

Rhea-AI Summary

The Charles Schwab Corporation released its Monthly Activity Report for November 2021, revealing key metrics.

Core net new assets increased to $45.1 billion, with $44.5 billion excluding mutual fund clearing. Total client assets reached $7.92 trillion, marking a 23% year-over-year growth but a 1% decrease from October 2021. Additionally, the company saw 448,000 new brokerage accounts opened, a 4% increase from November 2020 and a significant 13% rise from October 2021.

Positive

• Core net new assets of $45.1 billion, up 23% year-over-year.
• Total client assets of $7.92 trillion.
• New brokerage accounts increased by 448,000, up 4% from last year.

Negative

• Total client assets decreased by 1% compared to October 2021.

WESTLAKE, Texas--(BUSINESS WIRE)-- The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of November 2021 include:

• Core net new assets brought to the company by new and existing clients totaled $45.1 billion. Net new assets excluding mutual fund clearing totaled $44.5 billion.
• Total client assets were $7.92 trillion as of month-end November, up 23% from November 2020 and down 1% compared to October 2021.
• New brokerage accounts were 448 thousand in November 2021, up 4% from November 2020 and up 13% compared to October 2021.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 32.9 million active brokerage accounts, 2.2 million corporate retirement plan participants, 1.6 million banking accounts, and $7.92 trillion in client assets as of November 30, 2021. 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.

The Charles Schwab Corporation Monthly Activity Report For November 2021
				2020						2021																																	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				29,639			30,606			29,983			30,932			32,982			33,875			34,529			34,503			34,935			35,361			33,844			35,820			34,484			(4%)		16%
Nasdaq Composite				12,199			12,888			13,071			13,192			13,247			13,963			13,749			14,504			14,673			15,259			14,449			15,498			15,538			-		27%
Standard & Poor’s® 500				3,622			3,756			3,714			3,811			3,973			4,181			4,204			4,298			4,395			4,523			4,308			4,605			4,567			(1%)		26%
Client Assets (in billions of dollars)
Beginning Client Assets				5,878.5			6,421.0			6,691.7			6,759.6			6,900.5			7,069.1			7,336.1			7,395.7			7,574.8			7,642.7			7,838.2			7,614.0			7,982.3
Net New Assets (1)				32.1			61.7			34.2			37.0			62.6			37.2			28.1			43.5			44.3			51.8			42.9			22.9			31.4			37%		(2%)
Net Market Gains (Losses)				510.4			209.0			33.7			103.9			106.0			229.8			31.5			135.6			23.6			143.7			(267.1	)		345.4			(95.4	)
Total Client Assets (at month end)				6,421.0			6,691.7			6,759.6			6,900.5			7,069.1			7,336.1			7,395.7			7,574.8			7,642.7			7,838.2			7,614.0			7,982.3			7,918.3			(1%)		23%
Core Net New Assets (2)				32.1			61.7			34.2			51.4			62.6			37.2			28.1			43.5			44.3			51.8			42.9			36.8			45.1			23%		40%
Receiving Ongoing Advisory Services (at month end) (3)
Investor Services				457.1			471.8			472.4			481.3			495.2			511.1			517.8			525.1			531.9			542.5			530.1			548.3			543.1			(1%)		19%
Advisor Services (4)				2,715.7			2,828.3			2,840.6			2,913.3			2,997.9			3,112.5			3,150.4			3,209.3			3,256.5			3,333.4			3,253.2			3,399.8			3,374.3			(1%)		24%
Client Accounts (at month end, in thousands)
Active Brokerage Accounts				29,202			29,629			30,534			31,523			31,902			31,877			32,110			32,265			32,386			32,513			32,675			32,796			32,942			-		13%
Banking Accounts				1,504			1,499			1,518			1,542			1,608			1,562			1,584			1,574			1,578			1,594			1,580			1,593			1,608			1%		7%
Corporate Retirement Plan Participants				2,045			2,054			2,069			2,093			2,105			2,116			2,130			2,149			2,159			2,188			2,207			2,213			2,198			(1%)		7%
Client Activity
New Brokerage Accounts (in thousands)				430			626			1,095			1,211			847			609			549			499			402			402			374			397			448			13%		4%
Client Cash as a Percentage of Client Assets (5)				12.4%			12.3%			12.2%			11.8%			11.5%			10.9%			10.8%			10.5%			10.4%			10.3%			10.8%			10.4%			10.5%			10 bp		(190) bp
Derivative Trades as a Percentage of Total Trades				19.4%			18.9%			17.4%			16.6%			18.5%			20.4%			20.9%			20.6%			22.2%			23.1%			23.1%			22.5%			23.4%			90 bp		400 bp
Selected Average Balances (in millions of dollars)
Average Interest-Earning Assets (6)				466,677			482,394			517,306			514,885			520,074			527,194			528,642			536,146			546,579			552,372			565,379			574,181			584,362			2%		25%
Average Margin Balances				53,916			59,142			62,999			69,064			71,266			72,863			75,921			78,410			79,910			81,021			81,705			83,835			87,311			4%		62%
Average Bank Deposit Account Balances (7)				162,315			163,463			167,980			167,433			164,866			162,392			160,459			161,377			151,275			150,896			152,330			154,040			153,877			-		(5%)
Mutual Fund and Exchange-Traded Fund
Net Buys (Sells) (8,9) (in millions of dollars)
Equities				10,980			13,875			8,234			14,246			16,301			13,422			9,854			10,873			7,418			8,808			7,596			8,840			13,099
Hybrid				(402	)		359			407			832			1,133			877			1			390			666			569			335			81			308
Bonds				5,956			12,169			13,601			9,334			8,237			8,940			5,906			10,101			6,917			8,044			6,232			4,425			4,097
Net Buy (Sell) Activity (in millions of dollars)
Mutual Funds (8)				2,832			6,336			5,713			6,273			6,190			5,754			2,022			5,872			2,644			3,876			(308	)		302			189
Exchange-Traded Funds (9)				13,702			20,067			16,529			18,139			19,481			17,485			13,739			15,492			12,357			13,545			14,471			13,044			17,315
Money Market Funds				(5,908	)		(7,332	)		(5,248	)		(4,405	)		(4,528	)		(5,153	)		(3,988	)		(3,806	)		(2,501	)		(1,372	)		(1,512	)		(451	)		(1,725	)

		Note: Certain supplemental details related to the information above can be found at: https://www.aboutschwab.com/financial-reports.
(1)		November 2021 includes an outflow of $13.7 billion from a mutual fund clearing services client. October 2021 includes an outflow of $13.9 billion from a mutual fund clearing services client. February 2021 includes an outflow of $14.4 billion from a mutual fund clearing services client.
(2)		Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than $10 billion) relating to a specific client. These flows may span multiple reporting periods.
(3)		Beginning in December 2020, AdvisorDirect® assets are presented as Investor Services. In December 2020, $50.4 billion for November were reclassed from Advisor Services to Investor Services.
(4)		Excludes Retirement Business Services.
(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/20211214005480/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 were the core net new assets for Charles Schwab in November 2021?

Core net new assets totaled $45.1 billion in November 2021.

How many new brokerage accounts did Charles Schwab open in November 2021?

Charles Schwab opened 448,000 new brokerage accounts in November 2021.

What are the total client assets for Charles Schwab as of November 2021?

Total client assets were $7.92 trillion at the end of November 2021.

How did total client assets in November 2021 compare to October 2021?

Total client assets decreased by 1% from October 2021.