Schwab Reports Monthly Activity Highlights

Wednesday, March 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 February 2018 include:

  • Core net new assets brought to the company by new and existing clients in February 2018 totaled $21.3 billion, which excludes expected outflows of $71.8 billion from certain mutual fund clearing services clients. Net new assets excluding mutual fund clearing totaled $21.7 billion.
  • Total client assets were $3.33 trillion as of month-end February, up 15% from February 2017 and down 4% compared to January 2018.
  • Average interest-earning assets on the company’s balance sheet were a record $239.9 billion in February, up 11% from February 2017 and up 2% compared to January 2018.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 345 offices and 10.9 million active brokerage accounts, 1.6 million corporate retirement plan participants, 1.2 million banking accounts, and $3.33 trillion in client assets as of February 28, 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 February 2018
 
    2017                                             2018          

Change

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mo.

   

Yr.

Market Indices (at month end)
Dow Jones Industrial Average 20,812 20,663 20,941 21,009 21,350 21,891 21,948 22,405 23,377 24,272 24,719 26,149 25,029 (4 %) 20 %
Nasdaq Composite 5,825 5,912 6,048 6,199 6,140 6,348 6,429 6,496 6,728 6,874 6,903 7,411 7,273 (2 %) 25 %
Standard & Poor’s 500 2,364 2,363 2,384 2,412 2,423 2,470 2,472 2,519 2,575 2,648 2,674 2,824 2,714 (4 %) 15 %
Client Assets (in billions of dollars)
Beginning Client Assets 2,831.3 2,895.2 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
Net New Assets (1) 6.6 21.2 2.8 24.0 37.7 15.8 18.0 17.8 35.4 15.7 27.0 11.5 (50.5 ) N/M N/M
Net Market Gains (Losses) 57.3       6.1       23.5       23.0       7.1       43.5       4.4       41.1       39.9       46.6       16.0       107.2       (101.2 )
Total Client Assets (at month end) 2,895.2       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   (4 %) 15 %
Core Net New Assets (2) 6.6 21.2 2.8 21.3 22.1 15.8 18.0 17.8 19.2 15.7 27.0 18.7 21.3 14 % N/M
Receiving Ongoing Advisory Services (at month end)
Investor Services 227.9 230.9 234.4 239.1 242.2 247.2 249.9 255.0 259.8 265.1 268.7 278.6 273.0 (2 %) 20 %
Advisor Services (3) 1,239.0 1,250.9 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 (2 %) 17 %
Client Accounts (at month end, in thousands)
Active Brokerage Accounts (4) 10,254 10,320 10,386 10,439 10,487 10,477 10,525 10,565 10,603 10,671 10,755 10,858 10,936 1 % 7 %
Banking Accounts 1,117 1,120 1,128 1,138 1,143 1,154 1,167 1,176 1,181 1,192 1,197 1,210 1,218 1 % 9 %
Corporate Retirement Plan Participants 1,534 1,545 1,543 1,541 1,540 1,540 1,550 1,552 1,556 1,564 1,568 1,580 1,580 - 3 %
Client Activity
New Brokerage Accounts (in thousands) 113 138 125 115 117 107 123 106 117 122 147 165 138 (16 %) 22 %
Inbound Calls (in thousands) 1,787 2,111 1,788 1,727 1,736 1,683 1,823 1,709 1,988 1,804 2,046 2,303 2,005 (13 %) 12 %
Web Logins (in thousands) 40,717 45,441 39,750 44,024 43,790 42,236 47,290 39,639 51,454 50,583 54,486 64,488 60,830 (6 %) 49 %
Client Cash as a Percentage of Client Assets (5) 12.4 % 12.4 % 12.1 % 11.8 % 11.5 % 11.3 % 11.4 % 11.1 % 10.9 % 10.8 % 10.8 % 10.4 % 10.9 % 50 bp (150) bp

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

(in millions of dollars)

Large Capitalization Stock 580 (125 ) 346 134 (63 ) (95 ) (1,683 ) (138 ) (51 ) 85 1,023 496 715
Small / Mid Capitalization Stock 673 (409 ) (797 ) (285 ) (322 ) (139 ) (293 ) 45 378 (144 ) 274 (125 ) (167 )
International 1,633 1,703 2,410 3,610 3,631 2,675 1,705 1,549 1,913 2,627 1,852 4,306 2,685
Specialized 1,007 273 570 529 647 236 279 465 655 58 424 1,569 187
Hybrid 258 563 92 65 (340 ) 142 (272 ) 460 (118 ) (263 ) 307 978 (88 )
Taxable Bond 3,535 3,876 2,060 3,618 3,499 3,064 3,481 3,809 3,466 2,389 2,561 3,284 155
Tax-Free Bond 472 300 155 290 507 453 715 494 452 371 341 1,247 211
Net Buy (Sell) Activity (in millions of dollars)
Mutual Funds (6) 4,005 2,368 1,116 3,837 2,980 3,201 1,048 3,002 2,401 882 775 4,843 (417 )
Exchange-Traded Funds (7) 4,153 3,813 3,720 4,124 4,579 3,135 2,884 3,682 4,294 4,241 6,007 6,912 4,115
Money Market Funds (181 ) 1,218 (4,434 ) (1,167 ) (1,260 ) 1,022 2,105 (374 ) 213 1,166 2,968 (5,730 ) (4,292 )
Average Interest-Earning Assets (8)
(in millions of dollars) 216,112 218,554 217,407 215,252 214,709 212,108 214,458 216,472 219,658 223,292 228,540 234,619 239,922   2 % 11 %
(1)   February 2018 includes outflows of $71.8 billion from certain mutual fund clearing services clients. January 2018 includes an outflow of $7.2 billion from a mutual fund clearing services client. October 2017 includes an inflow of $16.2 billion
from a mutual fund clearing services client. June 2017 includes an inflow of $15.6 billion from a mutual fund clearing services client. February 2017 includes an outflow of $9.0 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.
(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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