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Schwab Reports Monthly Activity Highlights

·7-min read

WESTLAKE, Texas, August 12, 2022--(BUSINESS WIRE)--The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of July 2022 include:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220812005074/en/

  • Core net new assets brought to the company by new and existing clients totaled $31.5 billion. Net new assets excluding mutual fund clearing totaled $31.2 billion.

  • Total client assets were $7.30 trillion as of month-end July, down 4% from July 2021 and up 7% compared to June 2022.

  • Average interest-earning assets were $605.8 billion in July, up 11% from July 2021 and down 1% compared to June 2022.

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 $7.30 trillion in client assets as of July 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 July 2022

2021

2022

Change

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Mo.

Yr.

Market Indices (at month end)

Dow Jones Industrial Average®

34,935

35,361

33,844

35,820

34,484

36,338

35,132

33,893

34,678

32,977

32,990

30,775

32,845

7%

(6%)

Nasdaq Composite®

14,673

15,259

14,449

15,498

15,538

15,645

14,240

13,751

14,221

12,335

12,081

11,029

12,391

12%

(16%)

Standard & Poor’s® 500

4,395

4,523

4,308

4,605

4,567

4,766

4,516

4,374

4,530

4,132

4,132

3,785

4,130

9%

(6%)

Client Assets (in billions of dollars)

Beginning Client Assets

7,574.8

7,642.7

7,838.2

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

Net New Assets (1)

44.3

51.8

42.9

22.9

31.4

80.3

33.6

40.6

46.3

(9.2

)

32.8

19.8

31.5

59%

(29%)

Net Market Gains (Losses)

23.6

143.7

(267.1

)

345.4

(95.4

)

139.4

(367.8

)

(157.8

)

129.2

(568.5

)

(15.5

)

(489.0

)

440.8

Total Client Assets (at month end)

7,642.7

7,838.2

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%

(4%)

Core Net New Assets (2)

44.3

51.8

42.9

36.8

45.1

80.3

33.6

40.6

46.3

(9.2

)

32.8

40.6

31.5

(22%)

(29%)

Receiving Ongoing Advisory Services (at month end)

Investor Services

531.9

542.5

530.1

548.3

543.1

559.2

541.9

533.7

538.9

509.3

513.0

483.8

514.8

6%

(3%)

Advisor Services (3)

3,256.5

3,333.4

3,253.2

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

6%

(1%)

Client Accounts (at month end, in thousands)

Active Brokerage Accounts

32,386

32,513

32,675

32,796

32,942

33,165

33,308

33,421

33,577

33,759

33,822

33,896

33,934

-

5%

Banking Accounts

1,578

1,594

1,580

1,593

1,608

1,614

1,628

1,641

1,641

1,652

1,658

1,669

1,680

1%

6%

Corporate Retirement Plan Participants

2,159

2,188

2,207

2,213

2,198

2,200

2,216

2,235

2,246

2,261

2,275

2,275

2,267

-

5%

Client Activity

New Brokerage Accounts (in thousands)

402

402

374

397

448

473

426

356

420

386

323

305

278

(9%)

(31%)

Client Cash as a Percentage of Client Assets (4)

10.4%

10.3%

10.8%

10.4%

10.5%

10.9%

11.3%

11.5%

11.4%

11.9%

12.0%

12.8%

12.0%

(80) bp

160 bp

Derivative Trades as a Percentage of Total Trades

22.2%

23.1%

23.1%

22.5%

23.4%

23.0%

22.4%

24.0%

22.4%

21.9%

22.6%

22.3%

24.2%

190 bp

200 bp

Selected Average Balances (in millions of dollars)

Average Interest-Earning Assets (5)

546,579

552,372

565,379

574,181

584,362

605,709

622,997

629,042

644,768

636,668

620,157

614,100

605,751

(1%)

11%

Average Margin Balances

79,910

81,021

81,705

83,835

87,311

88,328

86,737

84,354

81,526

83,762

78,841

74,577

72,177

(3%)

(10%)

Average Bank Deposit Account Balances (6)

151,275

150,896

152,330

154,040

153,877

154,918

157,706

153,824

155,657

152,653

154,669

155,306

154,542

-

2%

Mutual Fund and Exchange-Traded Fund

Net Buys (Sells) (7,8) (in millions of dollars)

Equities

7,418

8,808

7,596

8,840

13,099

11,519

7,384

9,371

14,177

(786

)

1,889

(1,586

)

5,589

Hybrid

666

569

335

81

308

(1,207

)

(367

)

(478

)

(497

)

(529

)

(1,718

)

(1,054

)

(2,041

)

Bonds

6,917

8,044

6,232

4,425

4,097

5,600

1,804

(1,973

)

(7,851

)

(6,933

)

(6,121

)

(5,631

)

729

Net Buy (Sell) Activity (in millions of dollars)

Mutual Funds (7)

2,644

3,876

(308

)

302

189

(2,859

)

(4,961

)

(6,318

)

(11,888

)

(16,657

)

(20,761

)

(16,258

)

(8,674

)

Exchange-Traded Funds (8)

12,357

13,545

14,471

13,044

17,315

18,771

13,782

13,238

17,717

8,409

14,811

7,987

12,951

Money Market Funds

(2,501

)

(1,372

)

(1,512

)

(451

)

(1,725

)

(144

)

(1,984

)

(1,086

)

(1,344

)

(3,430

)

7,106

11,544

13,711

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)

Schwab One®, certain cash equivalents, bank deposits, third-party bank deposit accounts, and money market fund balances as a percentage of total client assets.

(5)

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

(6)

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

(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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220812005074/en/

Contacts

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

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