The Charles Schwab Corporation released its Monthly Activity
Report today. Company highlights for the month of February 2021
include:
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the full release here:
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- Core net new assets brought to the company by new and existing
clients totaled $51.4 billion. Net new assets excluding mutual fund
clearing totaled $50.3 billion.
- Total client assets were $6.90 trillion as of month-end
February, up 79% from February 2020 and up 2% compared to January
2021.(1)
- New brokerage accounts were 1.2 million in February, up over
200% from February 2020 and up 11% compared to January
2021.(1)
(1)
Year-over-year comparisons are affected by
the recent close of the TD Ameritrade acquisition on October 6,
2020
Commentary from the CFO
Peter Crawford, Executive Vice President and Chief Financial
Officer, provides perspectives on recent trends in client trading
activity at: https://www.aboutschwab.com/cfo-commentary.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading
provider of financial services, with 31.5 million active brokerage
accounts, 2.1 million corporate retirement plan participants, 1.5
million banking accounts, and $6.9 trillion in client assets as of
February 28, 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.
The Charles Schwab Corporation
Monthly Activity Report For February 2021
2020
2021
Change
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mo.
Yr.
Market Indices (at month end) Dow Jones Industrial Average
25,409
21,917
24,346
25,383
25,813
26,428
28,430
27,782
26,502
29,639
30,606
29,983
30,932
3%
22%
Nasdaq Composite
8,567
7,700
8,890
9,490
10,059
10,745
11,775
11,168
10,912
12,199
12,888
13,071
13,192
1%
54%
Standard & Poor’s 500
2,954
2,585
2,912
3,044
3,100
3,271
3,500
3,363
3,270
3,622
3,756
3,714
3,811
3%
29%
Client Assets (in billions of dollars)
Beginning Client Assets
4,051.6
3,862.8
3,496.9
3,778.3
4,009.0
4,110.1
4,278.0
4,489.7
4,395.3
5,878.5
6,421.0
6,691.7
6,759.6
Net New Assets (1)
24.4
27.9
15.3
97.5
24.6
11.2
20.0
20.0
1,596.9
32.1
61.7
34.2
37.0
8%
52%
Net Market (Losses) Gains
(213.2
)
(393.8
)
266.1
133.2
76.5
156.7
191.7
(114.4
)
(113.7
)
510.4
209.0
33.7
103.9
Total Client Assets (at month end)
3,862.8
3,496.9
3,778.3
4,009.0
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
2%
79%
Core Net New Assets (2)
24.4
27.9
15.3
17.6
13.7
2.7
20.0
20.0
25.6
32.1
61.7
34.2
51.4
50%
111%
Receiving Ongoing Advisory Services (at month end) (3)
Investor Services
323.2
291.5
309.9
339.8
345.2
355.6
366.8
361.2
425.3
457.1
471.8
472.4
481.3
2%
49%
Advisor Services (4)
1,694.0
1,531.3
1,647.9
1,711.7
1,747.5
1,818.5
1,900.5
1,870.1
2,505.5
2,715.7
2,828.3
2,840.6
2,913.3
3%
72%
Client Accounts (at month end, in thousands)
Active Brokerage Accounts
12,521
12,736
12,866
14,007
14,107
14,220
14,311
14,393
29,013
29,202
29,629
30,534
31,523
3%
152%
Banking Accounts
1,411
1,426
1,439
1,448
1,463
1,480
1,493
1,486
1,496
1,504
1,499
1,518
1,542
2%
9%
Corporate Retirement Plan Participants
1,726
1,721
1,696
1,714
1,716
1,712
1,715
1,722
2,072
2,045
2,054
2,069
2,093
1%
21%
Client Activity
New Brokerage Accounts (in thousands) (5)
159
283
201
1,250
201
206
202
184
14,718
430
626
1,095
1,211
11%
N/M
Client Cash as a Percentage of Client Assets (6)
12.0
%
15.1
%
14.3
%
14.0
%
13.6
%
13.0
%
12.5
%
12.8
%
13.4
%
12.4
%
12.3
%
12.2
%
11.8
%
(40) bp
(20) bp
Derivative Trades as a Percentage of Total Trades
11.5
%
7.0
%
10.2
%
12.2
%
10.6
%
13.1
%
13.8
%
14.5
%
20.5
%
19.4
%
18.9
%
17.4
%
16.6
%
(80) bp
510 bp
Mutual Fund and Exchange-Traded Fund
Net Buys (Sells) (7,8) (in millions of dollars)
Large Capitalization Stock
(178
)
984
(693
)
(768
)
(1,254
)
(2,536
)
(1,422
)
(1,360
)
(935
)
4,454
3,693
(1,604
)
3,143
Small / Mid Capitalization Stock
(531
)
(954
)
151
(401
)
(1,063
)
(1,476
)
(441
)
(497
)
(753
)
2,431
2,293
1,841
1,492
International
132
(2,116
)
(2,207
)
(1,953
)
(1,580
)
(773
)
230
370
168
2,110
4,112
4,330
4,439
Specialized
397
333
2,059
1,512
1,020
1,505
906
115
215
1,985
3,777
3,667
5,172
Hybrid
(257
)
(4,790
)
(860
)
(518
)
(97
)
(769
)
(124
)
(12
)
(553
)
(402
)
359
407
832
Taxable Bond
3,830
(23,142
)
1,642
5,469
9,215
7,314
7,680
5,734
5,904
4,825
10,004
10,922
8,418
Tax-Free Bond
1,066
(5,229
)
(242
)
805
1,710
1,297
1,648
1,123
861
1,131
2,165
2,679
916
Net Buy (Sell) Activity (in millions of dollars)
Mutual Funds (7)
(565
)
(34,382
)
(3,863
)
(564
)
1,768
(147
)
2,568
757
(2,260
)
2,832
6,336
5,713
6,273
Exchange-Traded Funds (8)
5,024
(532
)
3,713
4,710
6,183
4,709
5,909
4,716
7,167
13,702
20,067
16,529
18,139
Money Market Funds
1,312
(1,233
)
8,465
4,833
(5,673
)
(9,039
)
(5,614
)
(6,627
)
(4,021
)
(5,908
)
(7,332
)
(5,248
)
(4,405
)
Selected Average Balances (in millions of dollars)
Average Interest-Earning Assets (9,10)
278,966
317,850
353,018
361,814
373,986
379,521
384,690
392,784
442,119
466,677
482,394
517,306
514,885
-
85%
Average Bank Deposit Account Balances (10,11)
-
-
-
-
-
-
-
-
132,030
162,315
163,463
167,980
167,433
-
N/M
(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. June 2020 includes an
inflow of $10.9 billion from a mutual fund clearing services
client. May 2020 includes an inflow of $79.9 billion related to the
acquisition of the assets of USAA’s Investment Management Company.
(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. May 2020 includes 1.1 million
new brokerage accounts related to the acquisition of the assets of
USAA’s Investment Management Company.
(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 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.
(8)
Represents the principal value of client ETF transactions handled
by Schwab, including transactions in proprietary ETFs.
(9)
Represents average total interest-earning assets on the company's
balance sheet.
(10)
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 and Average Bank Deposit Account Balances of $450,004
million and $157,414 million, respectively.
(11)
Represents average TD Ameritrade clients’ uninvested cash sweep
account balances held in deposit accounts at third-party financial
institutions.
N/M - Not meaningful
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210312005097/en/
MEDIA: Mayura Hooper Charles Schwab Phone: 415-667-1525
INVESTORS/ANALYSTS: Jeff Edwards Charles Schwab Phone:
415-667-1524
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