Charles Schwab Added Fewer Net New Assets in 2Q
July 16 2019 - 9:57AM
Dow Jones News
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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