Schwab Reports Monthly Activity Highlights

Monday, May 14, 2018 5:45 am PDT

Dateline:

SAN FRANCISCO

Public Company Information:

NYSE:
SCHW

SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of April 2018 include:

  • Core net new assets brought to the company by new and existing clients in April 2018 totaled $9.9 billion, which excludes expected outflows of $9.5 billion from certain mutual fund clearing services clients. Net new assets excluding mutual fund clearing totaled $8.8 billion. These flows reflect client cash disbursements during tax season.
  • Total client assets were $3.31 trillion as of month-end April, up 12% from April 2017 and flat compared to March 2018.
  • New brokerage accounts totaled 141,000 in April, up 13% from April 2017, representing the seventeenth consecutive month of new accounts in excess of 100,000.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 345 offices and 11.1 million active brokerage accounts, 1.6 million corporate retirement plan participants, 1.2 million banking accounts, and $3.31 trillion in client assets as of April 30, 2018. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, money management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org), and 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 banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.

 
The Charles Schwab Corporation Monthly Activity Report For April 2018
 
  2017                   2018          

Change

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

Mo.

 

Yr.

Market Indices (at month end)
Dow Jones Industrial Average 20,941 21,009 21,350 21,891 21,948 22,405 23,377 24,272 24,719 26,149 25,029 24,103 24,163 - 15%
Nasdaq Composite 6,048 6,199 6,140 6,348 6,429 6,496 6,728 6,874 6,903 7,411 7,273 7,063 7,066 - 17%
Standard & Poor’s 500 2,384 2,412 2,423 2,470 2,472 2,519 2,575 2,648 2,674 2,824 2,714 2,641 2,648 - 11%
Client Assets (in billions of dollars)
Beginning Client Assets 2,922.5 2,948.8 2,995.8 3,040.6 3,099.9 3,122.3 3,181.2 3,256.5 3,318.8 3,361.8 3,480.5 3,328.8 3,305.4
Net New Assets (1) 2.8 24.0 37.7 15.8 18.0 17.8 35.4 15.7 27.0 11.5 (50.5 ) 20.2 0.4 (98%) (86%)
Net Market Gains (Losses) 23.5     23.0     7.1     43.5     4.4     41.1     39.9     46.6     16.0     107.2     (101.2 )   (43.6 )   6.3  
Total Client Assets (at month end) 2,948.8     2,995.8     3,040.6     3,099.9     3,122.3     3,181.2     3,256.5     3,318.8     3,361.8     3,480.5     3,328.8     3,305.4     3,312.1   - 12%
Core Net New Assets (2) 2.8 21.3 22.1 15.8 18.0 17.8 19.2 15.7 27.0 18.7 21.3 25.6 9.9 (61%) N/M
Receiving Ongoing Advisory Services (at month end)
Investor Services 234.4 239.1 242.2 247.2 249.9 255.0 259.8 265.1 268.7 278.6 273.0 273.2 274.7 1% 17%
Advisor Services (3) 1,262.7 1,283.4 1,297.6 1,323.8 1,333.1 1,358.6 1,382.6 1,410.8 1,431.1 1,483.7 1,449.5 1,444.4 1,451.6 - 15%
Client Accounts (at month end, in thousands)
Active Brokerage Accounts (4) 10,386 10,439 10,487 10,477 10,525 10,565 10,603 10,671 10,755 10,858 10,936 11,005 11,081 1% 7%
Banking Accounts 1,128 1,138 1,143 1,154 1,167 1,176 1,181 1,192 1,197 1,210 1,218 1,221 1,230 1% 9%
Corporate Retirement Plan Participants 1,543 1,541 1,540 1,540 1,550 1,552 1,556 1,564 1,568 1,580 1,580 1,594 1,599 - 4%
Client Activity
New Brokerage Accounts (in thousands) 125 115 117 107 123 106 117 122 147 165 138 140 141 1% 13%
Inbound Calls (in thousands) 1,788 1,727 1,736 1,683 1,823 1,709 1,988 1,804 2,046 2,303 2,005 2,145 2,034 (5%) 14%
Web Logins (in thousands) 39,750 44,024 43,790 42,236 47,290 39,639 51,454 50,583 54,486 64,488 60,830 58,906 55,980 (5%) 41%
Client Cash as a Percentage of Client Assets (5) 12.1 % 11.8 % 11.5 % 11.3 % 11.4 % 11.1 % 10.9 % 10.8 % 10.8 % 10.4 % 10.9 % 11.0 % 10.9 % (10) bp (120) bp

Mutual Fund and Exchange-Traded Fund Net Buys (Sells) (6, 7)

(in millions of dollars)

Large Capitalization Stock 346 134 (63 ) (95 ) (1,683 ) (138 ) (51 ) 85 1,023 496 715 (158 ) 410
Small / Mid Capitalization Stock (797 ) (285 ) (322 ) (139 ) (293 ) 45 378 (144 ) 274 (125 ) (167 ) 130 359
International 2,410 3,610 3,631 2,675 1,705 1,549 1,913 2,627 1,852 4,306 2,685 1,546 809
Specialized 570 529 647 236 279 465 655 58 424 1,569 187 326 122
Hybrid 92 65 (340 ) 142 (272 ) 460 (118 ) (263 ) 307 978 (88 ) 529 (541 )
Taxable Bond 2,060 3,618 3,499 3,064 3,481 3,809 3,466 2,389 2,561 3,284 155 2,117 1,661
Tax-Free Bond 155 290 507 453 715 494 452 371 341 1,247 211 247 (113 )
Net Buy (Sell) Activity (in millions of dollars)
Mutual Funds (6) 1,116 3,837 2,980 3,201 1,048 3,002 2,401 882 775 4,843 (417 ) 1,976 (36 )
Exchange-Traded Funds (7) 3,720 4,124 4,579 3,135 2,884 3,682 4,294 4,241 6,007 6,912 4,115 2,761 2,743
Money Market Funds (4,434 ) (1,167 ) (1,260 ) 1,022 2,105 (374 ) 213 1,166 2,968 (5,730 ) (4,292 ) (9,100 ) (4,156 )

Average Interest-Earning Assets (8)

(in millions of dollars) 217,407 215,252 214,709 212,108 214,458 216,472 219,658 223,292 228,540 234,619 239,922 241,049 239,833   (1%) 10%

 

(1)  

April, March, February, and January 2018 include outflows of $9.5 billion, $5.4 billion, $71.8 billion, and $7.2 billion, respectively, from certain mutual fund clearing services clients. October and June 2017 include inflows of $16.2 billion and $15.6 billion, respectively, from certain mutual fund clearing services clients.

(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.
(3) Excludes Retirement Business Services.
(4) Periodically, the Company reviews its active account base. In July 2017, active brokerage accounts were reduced by approximately 48,000 as a result of low-balance closures.
(5) Schwab One®, certain cash equivalents, bank deposits and money market fund balances as a percentage of total client assets.
(6) 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.
(7) Represents the principal value of client ETF transactions handled by Schwab, including transactions in proprietary ETFs.
(8) Represents average total interest-earning assets on the Company's balance sheet.
N/M Not meaningful.
 

Contact:

MEDIA:
Charles Schwab
Mayura Hooper, 415-667-1525
or
INVESTORS/ANALYSTS:
Charles Schwab
Rich Fowler, 415-667-1841

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