Charles Schwab Added Fewer Net New Assets in 2Q

Date : 07/16/2019 @ 2:57PM
Source : Dow Jones News
Stock : Charles Schwab Corporation (SCHW)
Quote : 42.67  -0.11 (-0.26%) @ 7:16PM

Charles Schwab Added Fewer Net New Assets in 2Q

Charles Schwab (NYSE:SCHW)
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3 Months : From Jun 2019 to Sep 2019

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By Dave Sebastian

 

Charles Schwab Corp. (SCHW) added fewer net new assets in the second quarter compared with a year earlier.

Total net new assets at the financial services firm were $37.2 billion in the latest quarter, compared with $43.9 billion a year earlier. The company added $51.7 billion in net new assets the first quarter.

Total client assets rose to $3.702 trillion from $3.397 trillion in the comparable quarter a year prior.

Clients' daily average trades rose to $716 million from $704 million in the comparable quarter a year prior.

Average revenue per revenue trade was $6.94, down from $7.30 for the comparable quarter a year prior.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

July 16, 2019 09:42 ET (13:42 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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