The Charles Schwab Corporation released its Monthly Activity
Report today. Company highlights for the month of July 2021
include:
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- Core net new assets brought to the company by new and existing
clients totaled $44.3 billion. Net new assets excluding mutual fund
clearing totaled $36.4 billion.
- Total client assets were $7.64 trillion as of month-end July,
up 79% from July 2020 and up 1% compared to June 2021.(1)
- Average interest-earning assets were $546.6 billion in July, up
44% from July 2020 and up 2% compared to June 2021 – including
initial bank deposit account balance migrations totaling $9.9
billion year-to-date.(1)
(1)
Year-over-year comparisons are affected by
the close of the TD Ameritrade acquisition on October 6, 2020
The Charles Schwab Corporation
Monthly Activity Report For July 2021
2020
2021
Change
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Mo.
Yr.
Market Indices (at month end)
Dow Jones Industrial Average
26,428
28,430
27,782
26,502
29,639
30,606
29,983
30,932
32,982
33,875
34,529
34,503
34,935
1%
32%
Nasdaq Composite
10,745
11,775
11,168
10,912
12,199
12,888
13,071
13,192
13,247
13,963
13,749
14,504
14,673
1%
37%
Standard & Poor’s® 500
3,271
3,500
3,363
3,270
3,622
3,756
3,714
3,811
3,973
4,181
4,204
4,298
4,395
2%
34%
Client Assets (in billions of dollars)
Beginning Client Assets
4,110.1
4,278.0
4,489.7
4,395.3
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
Net New Assets (1)
11.2
20.0
20.0
1,596.9
32.1
61.7
34.2
37.0
62.6
37.2
28.1
43.5
44.3
2%
N/M
Net Market Gains (Losses)
156.7
191.7
(114.4
)
(113.7
)
510.4
209.0
33.7
103.9
106.0
229.8
31.5
135.6
23.6
Total Client Assets (at month end)
4,278.0
4,489.7
4,395.3
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
1%
79%
Core Net New Assets (2)
2.7
20.0
20.0
25.6
32.1
61.7
34.2
51.4
62.6
37.2
28.1
43.5
44.3
2%
N/M
Receiving Ongoing Advisory Services (at month end) (3)
Investor Services
355.6
366.8
361.2
425.3
457.1
471.8
472.4
481.3
495.2
511.1
517.8
525.1
531.9
1%
50%
Advisor Services (4)
1,818.5
1,900.5
1,870.1
2,505.5
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
1%
79%
Client Accounts (at month end, in thousands)
Active Brokerage Accounts
14,220
14,311
14,393
29,013
29,202
29,629
30,534
31,523
31,902
31,877
32,110
32,265
32,386
-
128%
Banking Accounts
1,480
1,493
1,486
1,496
1,504
1,499
1,518
1,542
1,608
1,562
1,584
1,574
1,578
-
7%
Corporate Retirement Plan Participants
1,712
1,715
1,722
2,072
2,045
2,054
2,069
2,093
2,105
2,116
2,130
2,149
2,159
-
26%
Client Activity
New Brokerage Accounts (in thousands) (5)
206
202
184
14,718
430
626
1,095
1,211
847
609
549
499
402
(19%)
95%
Client Cash as a Percentage of Client Assets (6)
13.0
%
12.5
%
12.8
%
13.4
%
12.4
%
12.3
%
12.2
%
11.8
%
11.5
%
10.9
%
10.8
%
10.5
%
10.4
%
(10) bp
(260) bp
Derivative Trades as a Percentage of Total Trades
13.1
%
13.8
%
14.5
%
20.5
%
19.4
%
18.9
%
17.4
%
16.6
%
18.5
%
20.4
%
20.9
%
20.6
%
22.2
%
160 bp
910 bp
Selected Average Balances (in millions of dollars)
Average Interest-Earning Assets (7,8)
379,521
384,690
392,784
442,119
466,677
482,394
517,306
514,885
520,074
527,194
528,642
536,146
546,579
2%
44%
Average Margin Balances (8)
19,802
21,190
22,780
48,095
53,916
59,142
62,999
69,064
71,266
72,863
75,921
78,410
79,910
2%
N/M
Average Bank Deposit Account Balances (8,9)
-
-
-
132,030
162,315
163,463
167,980
167,433
164,866
162,392
160,459
161,377
151,275
(6%)
N/M
Mutual Fund and Exchange-Traded Fund
Net Buys (Sells) (10,11) (in millions of dollars)
Equities
(3,280
)
(727
)
(1,372
)
(1,305
)
10,980
13,875
8,234
14,246
16,301
13,422
9,854
10,873
7,418
Hybrid
(769
)
(124
)
(12
)
(553
)
(402
)
359
407
832
1,133
877
1
390
666
Bonds
8,611
9,328
6,857
6,765
5,956
12,169
13,601
9,334
8,237
8,940
5,906
10,101
6,917
Net Buy (Sell) Activity (in millions of dollars)
Mutual Funds (10)
(147
)
2,568
757
(2,260
)
2,832
6,336
5,713
6,273
6,190
5,754
2,022
5,872
2,644
Exchange-Traded Funds (11)
4,709
5,909
4,716
7,167
13,702
20,067
16,529
18,139
19,481
17,485
13,739
15,492
12,357
Money Market Funds
(9,039
)
(5,614
)
(6,627
)
(4,021
)
(5,908
)
(7,332
)
(5,248
)
(4,405
)
(4,528
)
(5,153
)
(3,988
)
(3,806
)
(2,501
)
Note: Certain supplemental details related to the information above
can be found at:
https://www.aboutschwab.com/financial-reports.
(1)
February 2021 includes an outflow of $14.4 billion from a mutual
fund clearing services client. October 2020 includes an inflow of
$1.6 trillion related to the acquisition of TD Ameritrade. July
2020 includes an inflow of $8.5 billion related to the acquisition
of Wasmer, Schroeder & Company, LLC.
(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, $46.5 billion and $50.4
billion for October and November, respectively, were reclassed from
Advisor Services to Investor Services.
(4)
Excludes Retirement Business Services.
(5)
October 2020 includes 14.5 million new brokerage accounts related
to the acquisition of TD Ameritrade.
(6)
Schwab One®, certain cash equivalents, bank deposits, third-party
bank deposit accounts, and money market fund balances as a
percentage of total client assets.
(7)
Represents average total interest-earning assets on the company's
balance sheet.
(8)
October 2020 averages reflect a full month of Schwab balances and
26 days of TD Ameritrade balances following the acquisition closing
on October 6, 2020. Calculating the consolidated daily average from
the closing date onwards would result in Average Interest-Earning
Assets, Average Margin Balances, and Average Bank Deposit Account
Balances of $450,004 million, $52,744 million, and $157,414
million, respectively.
(9)
Represents average TD Ameritrade clients’ uninvested cash sweep
account balances held in deposit accounts at third-party financial
institutions.
(10)
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.
(11)
Represents the principal value of client ETF transactions handled
by Schwab, including transactions in proprietary ETFs. N/M - Not
meaningful. Percentage changes greater than 200% are presented as
not meaningful.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading
provider of financial services, with 32.4 million active brokerage
accounts, 2.2 million corporate retirement plan participants, 1.6
million banking accounts, and $7.6 trillion in client assets as of
July 31, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210813005054/en/
MEDIA: Mayura Hooper Charles Schwab Phone:
415-667-1525
INVESTORS/ANALYSTS: Jeff Edwards Charles Schwab Phone:
415-667-1524
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