Schwab Month-End May Total Client Assets Up 84%
June 14 2021 - 9:53AM
Dow Jones News
By Michael Dabaie
Charles Schwab Corp. said month-end May total client assets were
up 84% on year.
The financial services provider said that in May, core net new
assets brought to the company by new and existing clients totaled
$28.1 billion. Net new assets excluding mutual fund clearing
totaled $27.9 billion.
Total client assets were $7.4 trillion as of month-end May, up
84% from a year earlier and up 1% compared to April 2021.
May's average interest-earning assets were $528.6 billion, up
46% from May 2020 and flat compared to April 2021.
Schwab said year-over-year comparisons are affected by the close
of the TD Ameritrade acquisition in October.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
June 14, 2021 09:42 ET (13:42 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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