SCHW Charles Schwab Corporation

The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of October 2024 include:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241114282831/en/

• Core net new assets brought to the company by new and existing clients totaled $24.6 billion. Net new assets excluding mutual fund clearing totaled $21.0 billion.
• Total client assets equaled $9.85 trillion as of month-end October, up 29% from October 2023 and down 1% compared to September 2024.
• Transactional sweep cash ended October at $394.0 billion, representing an increase of $10.0 billion versus the prior month.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 36.1 million active brokerage accounts, 5.4 million workplace plan participant accounts, 2.0 million banking accounts, and $9.85 trillion in client assets as of October 31, 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 subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its 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.

The Charles Schwab Corporation Monthly Activity Report For October 2024  

2023

2024

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®

33,053

 

35,951

 

37,690

 

38,150

 

38,996

 

39,807

 

37,816

 

38,686

 

39,119

 

40,843

 

41,563

 

42,330

 

41,763

 

(1%)

 

26%

Nasdaq Composite®

12,851

 

14,226

 

15,011

 

15,164

 

16,092

 

16,379

 

15,658

 

16,735

 

17,733

 

17,599

 

17,714

 

18,189

 

18,095

 

(1%)

 

41%

Standard & Poor’s® 500

4,194

 

4,568

 

4,770

 

4,846

 

5,096

 

5,254

 

5,036

 

5,278

 

5,460

 

5,522

 

5,648

 

5,762

 

5,705

 

(1%)

 

36%

Client Assets (in billions of dollars)

 

 

 

Beginning Client Assets

7,824.5

 

7,653.4

 

8,180.6

 

8,516.6

 

8,558.1

 

8,879.5

 

9,118.4

 

8,847.5

 

9,206.3

 

9,407.5

 

9,572.1

 

9,737.7

 

9,920.5

 

 

 

 

Net New Assets (1)

5.0

 

19.2

 

42.1

 

14.8

 

31.7

 

41.7

 

10.0

 

31.0

 

33.2

 

29.0

 

31.5

 

30.3

 

22.7

 

(25%)

 

N/M

Net Market (Losses) Gains

(176.1

)

508.0

 

293.9

 

26.7

 

289.7

 

197.2

 

(280.9

)

327.8

 

168.0

 

135.6

 

134.1

 

152.5

 

(91.2

)

 

 

 

Total Client Assets (at month end)

7,653.4

 

8,180.6

 

8,516.6

 

8,558.1

 

8,879.5

 

9,118.4

 

8,847.5

 

9,206.3

 

9,407.5

 

9,572.1

 

9,737.7

 

9,920.5

 

9,852.0

 

(1%)

 

29%

Core Net New Assets (1,2)

11.3

 

21.7

 

43.1

 

17.2

 

33.4

 

45.0

 

1.0

 

31.1

 

29.1

 

29.0

 

32.8

 

33.5

 

24.6

 

(27%)

 

118%

Receiving Ongoing Advisory Services (at month end)

 

 

 

Investor Services

522.2

 

557.0

 

581.4

 

584.1

 

601.8

 

618.5

 

602.2

 

624.0

 

632.9

 

649.1

 

663.7

 

675.1

 

665.6

 

(1%)

 

27%

Advisor Services (3)

3,380.3

 

3,604.4

 

3,757.4

 

3,780.4

 

3,902.5

 

4,009.5

 

3,893.9

 

4,027.3

 

4,090.0

 

4,185.4

 

4,268.1

 

4,343.8

 

4,303.3

 

(1%)

 

27%

Client Accounts (at month end, in thousands)

 

 

 

Active Brokerage Accounts

34,571

 

34,672

 

34,838

 

35,017

 

35,127

 

35,301

 

35,426

 

35,524

 

35,612

 

35,743

 

35,859

 

35,982

 

36,073

 

-

 

4%

Banking Accounts

1,812

 

1,825

 

1,838

 

1,856

 

1,871

 

1,885

 

1,901

 

1,916

 

1,931

 

1,937

 

1,940

 

1,954

 

1,967

 

1%

 

9%

Workplace Plan Participant Accounts (4)

5,212

 

5,212

 

5,221

 

5,226

 

5,268

 

5,277

 

5,282

 

5,345

 

5,363

 

5,382

 

5,373

 

5,388

 

5,407

 

-

 

4%

Client Activity

 

 

 

New Brokerage Accounts (in thousands)

284

 

286

 

340

 

366

 

345

 

383

 

361

 

314

 

310

 

327

 

324

 

321

 

331

 

3%

 

17%

Client Cash as a Percentage of Client Assets (5)

11.2

%

10.7

%

10.5

%

10.5

%

10.2

%

10.0

%

10.2

%

9.9

%

9.7

%

9.6

%

9.5

%

9.5

%

9.8

%

30 bp

 

(140) bp

Derivative Trades as a Percentage of Total Trades

23.2

%

23.1

%

21.8

%

21.8

%

22.2

%

21.9

%

22.1

%

21.9

%

21.3

%

21.2

%

20.8

%

21.5

%

21.4

%

(10) bp

 

(180) bp

Selected Average Balances (in millions of dollars)

 

 

 

Average Interest-Earning Assets (6)

438,522

 

439,118

 

446,305

 

443,694

 

434,822

 

431,456

 

423,532

 

415,950

 

417,150

 

417,379

 

420,191

 

420,203

 

422,327

 

1%

 

(4%)

Average Margin Balances

63,946

 

61,502

 

62,309

 

61,368

 

63,600

 

66,425

 

68,827

 

67,614

 

69,730

 

73,206

 

73,326

 

72,755

 

74,105

 

2%

 

16%

Average Bank Deposit Account Balances (7)

97,893

 

94,991

 

95,518

 

95,553

 

92,075

 

90,774

 

88,819

 

86,844

 

85,195

 

83,979

 

82,806

 

82,336

 

83,261

 

1%

 

(15%)

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

(3,039

)

6,099

 

7,903

 

8,182

 

7,624

 

10,379

 

3,472

 

5,734

 

3,379

 

10,908

 

5,609

 

5,217

 

7,176

 

Hybrid

(1,457

)

(1,466

)

(1,596

)

(501

)

(1,330

)

(439

)

(703

)

(558

)

(843

)

(1,155

)

(1,377

)

(432

)

(1,397

)

Bonds

1,094

 

255

 

6,104

 

7,510

 

9,883

 

7,561

 

5,949

 

5,854

 

6,346

 

8,651

 

10,919

 

11,015

 

10,442

 

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

(12,245

)

(9,267

)

(7,406

)

(966

)

(1,348

)

(1,607

)

(4,818

)

(5,544

)

(4,254

)

(4,679

)

(4,003

)

(1,261

)

(4,905

)

Exchange-Traded Funds (9)

8,843

 

14,155

 

19,817

 

16,157

 

17,525

 

19,108

 

13,536

 

16,574

 

13,136

 

23,083

 

19,154

 

17,061

 

21,126

 

Money Market Funds

16,976

 

11,670

 

7,745

 

11,717

 

10,129

 

9,085

 

(2,357

)

9,790

 

3,858

 

9,110

 

8,048

 

9,672

 

11,032

 

 

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. 2024 also includes an inflow of $10.3 billion from a mutual fund clearing services client in April and outflows from a large international relationship of $0.1 billion in August and $0.3 billion in October. 2023 also includes outflows from a large international relationship of $6.2 billion in October, $5.4 billion in November, and $0.6 billion in December.

(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)

Includes accounts in Stock Plan Services, Designated Brokerage Services, and Retirement Business Services; Participants may be enrolled in services in more than one Workplace business.

(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; client cash excludes brokered CDs issued by Charles Schwab Bank.

(6)

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

(7)

Represents average 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.

 

N/M - Not meaningful. Percentage changes greater than 200% are presented as not meaningful.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241114282831/en/

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

INVESTORS/ANALYSTS: Jeff Edwards Charles Schwab Phone: 817-854-6177