SCHW

The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of October 2022 include:

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• Core net new assets brought to the company by new and existing clients totaled $42.0 billion. Net new assets excluding mutual fund clearing totaled $33.9 billion.
• Total client assets were $7.00 trillion as of month-end October, down 12% from October 2021 and up 5% compared to September 2022.
• Average interest-earning assets were $552.6 billion in October, down 4% from October 2021 and down 3% compared to September 2022 – consistent with our full-year expectations outlined at the 2022 Fall Business Update.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 33.9 million active brokerage accounts, 2.3 million corporate retirement plan participants, 1.7 million banking accounts, and $7.00 trillion in client assets as of October 31, 2022. 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 October 2022  

2021

2022

Change Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Mo. Yr. Market Indices (at month end) Dow Jones Industrial Average®

35,820

 

34,484

 

36,338

 

35,132

 

33,893

 

34,678

 

32,977

 

32,990

 

30,775

 

32,845

 

31,510

 

28,726

 

32,733

 

14

%

(9

%)

Nasdaq Composite®

15,498

 

15,538

 

15,645

 

14,240

 

13,751

 

14,221

 

12,335

 

12,081

 

11,029

 

12,391

 

11,816

 

10,576

 

10,988

 

4

%

(29

%)

Standard & Poor’s® 500

4,605

 

4,567

 

4,766

 

4,516

 

4,374

 

4,530

 

4,132

 

4,132

 

3,785

 

4,130

 

3,955

 

3,586

 

3,872

 

8

%

(16

%)

Client Assets (in billions of dollars) Beginning Client Assets

7,614.0

 

7,982.3

 

7,918.3

 

8,138.0

 

7,803.8

 

7,686.6

 

7,862.1

 

7,284.4

 

7,301.7

 

6,832.5

 

7,304.8

 

7,127.6

 

6,644.2

 

Net New Assets (1)

22.9

 

31.4

 

80.3

 

33.6

 

40.6

 

46.3

 

(9.2

)

32.8

 

19.8

 

31.5

 

43.3

 

39.8

 

42.0

 

6

%

83

%

Net Market Gains (Losses)

345.4

 

(95.4

)

139.4

 

(367.8

)

(157.8

)

129.2

 

(568.5

)

(15.5

)

(489.0

)

440.8

 

(220.5

)

(523.2

)

318.4

 

Total Client Assets (at month end)

7,982.3

 

7,918.3

 

8,138.0

 

7,803.8

 

7,686.6

 

7,862.1

 

7,284.4

 

7,301.7

 

6,832.5

 

7,304.8

 

7,127.6

 

6,644.2

 

7,004.6

 

5

%

(12

%)

Core Net New Assets (2)

36.8

 

45.1

 

80.3

 

33.6

 

40.6

 

46.3

 

(9.2

)

32.8

 

40.6

 

31.5

 

43.3

 

39.8

 

42.0

 

6

%

14

%

Receiving Ongoing Advisory Services (at month end) Investor Services

548.3

 

543.1

 

559.2

 

541.9

 

533.7

 

538.9

 

509.3

 

513.0

 

483.8

 

514.8

 

499.2

 

466.6

 

487.3

 

4

%

(11

%)

Advisor Services (3)

3,399.8

 

3,374.3

 

3,505.2

 

3,382.4

 

3,342.5

 

3,404.6

 

3,190.5

 

3,213.8

 

3,040.4

 

3,222.5

 

3,150.5

 

2,950.9

 

3,106.0

 

5

%

(9

%)

Client Accounts (at month end, in thousands) Active Brokerage Accounts (4)

32,796

 

32,942

 

33,165

 

33,308

 

33,421

 

33,577

 

33,759

 

33,822

 

33,896

 

33,934

 

33,984

 

33,875

 

33,896

 

-

 

3

%

Banking Accounts

1,593

 

1,608

 

1,614

 

1,628

 

1,641

 

1,641

 

1,652

 

1,658

 

1,669

 

1,680

 

1,690

 

1,696

 

1,706

 

1

%

7

%

Corporate Retirement Plan Participants

2,213

 

2,198

 

2,200

 

2,216

 

2,235

 

2,246

 

2,261

 

2,275

 

2,275

 

2,267

 

2,285

 

2,305

 

2,322

 

1

%

5

%

Client Activity New Brokerage Accounts (in thousands)

397

 

448

 

473

 

426

 

356

 

420

 

386

 

323

 

305

 

278

 

332

 

287

 

298

 

4

%

(25

%)

Client Cash as a Percentage of Client Assets (5)

10.4

%

10.5

%

10.9

%

11.3

%

11.5

%

11.4

%

11.9

%

12.0

%

12.8

%

12.0

%

12.1

%

12.9

%

12.2

%

(70) bp 180 bp Derivative Trades as a Percentage of Total Trades

22.5

%

23.4

%

23.0

%

22.4

%

24.0

%

22.4

%

21.9

%

22.6

%

22.3

%

24.2

%

23.3

%

23.6

%

24.1

%

50 bp 160 bp Selected Average Balances (in millions of dollars) Average Interest-Earning Assets (6)

574,181

 

584,362

 

605,709

 

622,997

 

629,042

 

644,768

 

636,668

 

620,157

 

614,100

 

605,751

 

586,154

 

568,351

 

552,631

 

(3

%)

(4

%)

Average Margin Balances

83,835

 

87,311

 

88,328

 

86,737

 

84,354

 

81,526

 

83,762

 

78,841

 

74,577

 

72,177

 

72,855

 

73,224

 

69,188

 

(6

%)

(17

%)

Average Bank Deposit Account Balances (7)

154,040

 

153,877

 

154,918

 

157,706

 

153,824

 

155,657

 

152,653

 

154,669

 

155,306

 

154,542

 

148,427

 

141,198

 

136,036

 

(4

%)

(12

%)

Mutual Fund and Exchange-Traded Fund Net Buys (Sells) (8,9) (in millions of dollars) Equities

8,840

 

13,099

 

11,519

 

7,384

 

9,371

 

14,177

 

(786

)

1,889

 

(1,586

)

5,589

 

10,465

 

(2,662

)

3,984

 

Hybrid

81

 

308

 

(1,207

)

(367

)

(478

)

(497

)

(529

)

(1,718

)

(1,054

)

(2,041

)

(783

)

(938

)

(1,380

)

Bonds

4,425

 

4,097

 

5,600

 

1,804

 

(1,973

)

(7,851

)

(6,933

)

(6,121

)

(5,631

)

729

 

(141

)

(5,801

)

(7,218

)

Net Buy (Sell) Activity (in millions of dollars) Mutual Funds (8)

302

 

189

 

(2,859

)

(4,961

)

(6,318

)

(11,888

)

(16,657

)

(20,761

)

(16,258

)

(8,674

)

(7,117

)

(15,200

)

(18,473

)

Exchange-Traded Funds (9)

13,044

 

17,315

 

18,771

 

13,782

 

13,238

 

17,717

 

8,409

 

14,811

 

7,987

 

12,951

 

16,658

 

5,799

 

13,859

 

Money Market Funds

(451

)

(1,725

)

(144

)

(1,984

)

(1,086

)

(1,344

)

(3,430

)

7,106

 

11,544

 

13,711

 

19,702

 

17,018

 

21,542

 

Note: Certain supplemental details related to the information above can be found at: https://www.aboutschwab.com/financial-reports.

(1)

June 2022 includes an outflow of $20.8 billion from a mutual fund clearing services client. November 2021 includes an outflow of $13.7 billion from a mutual fund clearing services client. October 2021 includes an outflow of $13.9 billion from a mutual fund clearing services client.

(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)

Excludes Retirement Business Services.

(4)

September 2022 includes the company-initiated closure of approximately 152 thousand low-balance accounts.

(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)

Represents average total interest-earning assets on the company's balance sheet.

(7)

Represents average TD Ameritrade clients’ uninvested cash sweep account balances held in deposit accounts at third-party financial institutions.

(8)

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.

(9)

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/20221114005276/en/

MEDIA: Mayura Hooper Charles Schwab Phone: 415-667-1525

INVESTORS/ANALYSTS: Jeff Edwards Charles Schwab Phone: 415-667-1524