Schwab Reports Monthly Activity Highlights

By: The Charles Schwab Corporation via Business Wire

November 14, 2022 at 08:45 AM EST

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

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221114005276/en/

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/

Contacts

MEDIA:

Mayura Hooper

Charles Schwab

Phone: 415-667-1525

INVESTORS/ANALYSTS:

Jeff Edwards

Charles Schwab

Phone: 415-667-1524

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