Schwab Reports Monthly Activity Highlights
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 20222021
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® 5004,605
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 Assets7,614.0
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 Services548.3
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 Accounts1,593
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 Participants2,213
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 Trades22.5
%
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 Balances83,835
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) Equities8,840
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
)
Bonds4,425
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.
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