The Charles Schwab Corporation released its Monthly Activity
Report today. Company highlights for the month of April 2024
include:
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240514723050/en/
- Total net new assets brought to the company by new and existing
clients in April 2024 totaled $10.0 billion, while core net new
assets equaled $1.0 billion. These flows reflect client cash
disbursements during tax season.
- Total client assets were $8.85 trillion as of month-end April,
up 16% from April 2023 and down 3% versus March 2024.
- Transactional sweep cash declined by 3% to end April 2024 at
$387.7 billion. This month-over-month drawdown was driven by
several anticipated factors, including client tax disbursements and
seasonal advisory fee payments.
- Last weekend, Schwab successfully completed the final
Ameritrade client conversion, marking the completion of a
historic integration. We are pleased to report that the client
account and asset conversion went smoothly. The company will share
additional perspectives on this tremendous milestone during its
Institutional Investor Day scheduled for Wednesday, May 22.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading
provider of financial services, with 35.4 million active brokerage
accounts, 5.3 million workplace plan participant accounts, 1.9
million banking accounts, and $8.85 trillion in client assets as of
April 30, 2024. 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 Ameritrade Holding LLC. Ameritrade Holding LLC is a
wholly owned subsidiary of The Charles Schwab Corporation.
The Charles Schwab Corporation Monthly Activity Report
For April 2024
2023
2024
Change Apr May
Jun Jul Aug
Sep Oct Nov
Dec Jan Feb
Mar Apr Mo.
Yr. Market Indices (at month
end) Dow Jones Industrial Average®
34,098
32,908
34,408
35,560
34,722
33,508
33,053
35,951
37,690
38,150
38,996
39,807
37,816
(5
%)
11
%
Nasdaq Composite®
12,227
12,935
13,788
14,346
14,035
13,219
12,851
14,226
15,011
15,164
16,092
16,379
15,658
(4
%)
28
%
Standard & Poor’s® 500
4,169
4,180
4,450
4,589
4,508
4,288
4,194
4,568
4,770
4,846
5,096
5,254
5,036
(4
%)
21
%
Client Assets (in billions of dollars) Beginning Client
Assets
7,580.0
7,631.5
7,650.2
8,015.8
8,241.0
8,094.7
7,824.5
7,653.4
8,180.6
8,516.6
8,558.1
8,879.5
9,118.4
Net New Assets (1)
13.6
24.6
33.8
12.9
8.1
27.2
5.0
19.2
42.1
14.8
31.7
41.7
10.0
(76
%)
(26
%)
Net Market Gains (Losses)
37.9
(5.9
)
331.8
212.3
(154.4
)
(297.4
)
(176.1
)
508.0
293.9
26.7
289.7
197.2
(280.9
)
Total Client Assets (at month end)
7,631.5
7,650.2
8,015.8
8,241.0
8,094.7
7,824.5
7,653.4
8,180.6
8,516.6
8,558.1
8,879.5
9,118.4
8,847.5
(3
%)
16
%
Core Net New Assets (1,2)
(2.3
)
20.7
33.8
13.7
4.9
27.1
11.3
21.7
43.1
17.2
33.4
45.0
1.0
(98
%)
143
%
Receiving Ongoing Advisory Services (at month end) Investor
Services
530.7
526.3
547.5
560.6
552.2
533.0
522.2
557.0
581.4
584.1
601.8
618.5
602.2
(3
%)
13
%
Advisor Services (3)
3,394.9
3,377.8
3,527.8
3,619.8
3,554.2
3,448.0
3,380.3
3,604.4
3,757.4
3,780.4
3,902.5
4,009.5
3,893.9
(3
%)
15
%
Client Accounts (at month end, in thousands) Active
Brokerage Accounts
34,248
34,311
34,382
34,434
34,440
34,540
34,571
34,672
34,838
35,017
35,127
35,301
35,426
-
3
%
Banking Accounts
1,757
1,768
1,781
1,792
1,798
1,799
1,812
1,825
1,838
1,856
1,871
1,885
1,901
1
%
8
%
Workplace Plan Participant Accounts (4)
4,869
4,962
5,003
5,030
5,037
5,141
5,212
5,212
5,221
5,226
5,268
5,277
5,282
-
8
%
Client Activity New Brokerage Accounts (in thousands)
331
314
315
303
311
280
284
286
340
366
345
383
361
(6
%)
9
%
Client Cash as a Percentage of Client Assets (5,6)
10.8
%
10.9
%
10.5
%
10.2
%
10.4
%
10.8
%
11.2
%
10.7
%
10.5
%
10.5
%
10.2
%
10.0
%
10.2
%
20 bp (60) bp Derivative Trades as a Percentage of Total Trades
23.4
%
23.5
%
23.9
%
23.0
%
24.4
%
24.2
%
23.2
%
23.1
%
21.8
%
21.8
%
22.2
%
21.9
%
22.1
%
20 bp (130) bp
Selected Average Balances (in millions of
dollars) Average Interest-Earning Assets (7)
493,215
483,438
479,752
466,659
449,483
444,864
438,522
439,118
446,305
443,694
434,822
431,456
423,532
(2
%)
(14
%)
Average Margin Balances
60,338
60,250
61,543
63,040
64,226
64,014
63,946
61,502
62,309
61,368
63,600
66,425
68,827
4
%
14
%
Average Bank Deposit Account Balances (8)
104,775
103,149
102,917
102,566
101,928
100,404
97,893
94,991
95,518
95,553
92,075
90,774
88,819
(2
%)
(15
%)
Mutual Fund and Exchange-Traded Fund Net Buys (Sells)
(9,10) (in millions of dollars) Equities
1,126
(1,366
)
9,190
7,423
(278
)
675
(3,039
)
6,099
7,903
8,182
7,624
10,379
3,472
Hybrid
(462
)
(889
)
(903
)
(407
)
(1,037
)
(828
)
(1,457
)
(1,466
)
(1,596
)
(501
)
(1,330
)
(439
)
(703
)
Bonds
2,575
2,029
3,302
2,515
4,696
2,723
1,094
255
6,104
7,510
9,883
7,561
5,949
Net Buy (Sell) Activity (in millions of dollars) Mutual
Funds (9)
(4,904
)
(7,157
)
(4,485
)
(3,333
)
(6,476
)
(5,853
)
(12,245
)
(9,267
)
(7,406
)
(966
)
(1,348
)
(1,607
)
(4,818
)
Exchange-Traded Funds (10)
8,143
6,931
16,074
12,864
9,857
8,423
8,843
14,155
19,817
16,157
17,525
19,108
13,536
Money Market Funds
6,291
15,256
9,112
7,911
16,869
13,388
16,976
11,670
7,745
11,717
10,129
9,085
(2,357
)
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 CDs. Additionally, 2024 includes an
inflow of $10.3 billion from a mutual fund clearing services client
in April, and 2023 includes outflows from a large international
relationship of $0.8 billion in September, $6.2 billion in October,
$5.4 billion in November, and $0.6 billion in December, and an
inflow of $12.0 billion from a mutual fund clearing services client
in April.
(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, and activity from off-platform Schwab Bank
Retail CDs. These flows may span multiple reporting periods.
(3)
Excludes Retirement Business Services.
(4)
Beginning October 2023, Retirement Plan
Participants was expanded to include accounts in Stock Plan
Services, Designated Brokerage Services, and Retirement Business
Services. Participants may be enrolled in services in more than one
Workplace business. Prior periods have been recast to reflect this
change.
(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)
Beginning July 2023, client cash as a
percentage of client assets excludes brokered CDs issued by Charles
Schwab Bank. Prior periods have been recast to reflect this
change.
(7)
Represents average total interest-earning
assets on the Company's balance sheet.
(8)
Represents average clients’ uninvested
cash sweep account balances held in deposit accounts at third-party
financial institutions.
(9)
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.
(10)
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/20240514723050/en/
MEDIA: Mayura Hooper Charles Schwab Phone:
415-667-1525
INVESTORS/ANALYSTS: Jeff Edwards Charles Schwab Phone:
415-667-1524
Charles Schwab (NYSE:SCHW)
Historical Stock Chart
From May 2024 to Jun 2024
Charles Schwab (NYSE:SCHW)
Historical Stock Chart
From Jun 2023 to Jun 2024