Schwab Reports Monthly Activity Highlights

Tuesday, May 14, 2019 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 2019 include:

  • Core net new assets brought to the company by new and existing clients in April 2019 totaled negative $0.3 billion. Net new assets excluding mutual fund clearing totaled negative $1.2 billion. These flows reflect client cash disbursements during tax season.
  • Total client assets were $3.67 trillion as of month-end April, up 11% from April 2018 and up 2% compared to March 2019.
  • New brokerage accounts were 147,000 in April, up 4% from April 2018 and up 5% compared to March 2019, representing the highest April for new accounts in 19 years.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 360 offices and 11.9 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.3 million banking accounts, and $3.67 trillion in client assets as of April 30, 2019. 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 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 2019
     
2018 2019  

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 24,163 24,416 24,271 25,415 25,965 26,458 25,116 25,538 23,327 25,000 25,916 25,929 26,593 3% 10%
Nasdaq Composite 7,066 7,442 7,510 7,672 8,110 8,046 7,306 7,331 6,635 7,282 7,533 7,729 8,095 5% 15%
Standard & Poor’s 500 2,648 2,705 2,718 2,816 2,902 2,914 2,712 2,760 2,507 2,704 2,784 2,834 2,946 4% 11%
Client Assets (in billions of dollars)
Beginning Client Assets 3,305.4 3,312.1 3,378.1 3,397.0 3,477.9 3,555.9 3,563.7 3,388.1 3,431.9 3,252.2 3,447.7 3,533.0 3,585.4
Net New Assets (1) 0.4 19.4 24.1 16.3 20.8 16.4 14.9 15.6 24.8 15.1 18.3 18.3 (0.3 ) (102%) (175%)
Net Market Gains (Losses) 6.3     46.6     (5.2 )   64.6     57.2     (8.6 )   (190.5 )   28.2     (204.5 )   180.4     67.0     34.1   83.4  
Total Client Assets (at month end) 3,312.1     3,378.1     3,397.0     3,477.9     3,555.9     3,563.7     3,388.1     3,431.9     3,252.2     3,447.7     3,533.0     3,585.4   3,668.5   2% 11%
Core Net New Assets (2) 9.9 19.4 24.1 16.3 20.8 16.4 14.9 15.6 24.8 15.1 18.3 18.3 (0.3 ) (102%) (103%)

Receiving Ongoing Advisory Services (at month end)

Investor Services 274.7 279.1 280.0 287.0 292.0 292.7 280.3 284.7 272.4 286.9 294.2 298.4 305.7 2% 11%
Advisor Services (3) 1,451.6 1,478.0 1,488.7 1,525.5 1,555.3 1,559.2 1,485.8 1,510.1 1,436.1 1,514.2 1,551.6 1,572.8 1,608.0 2% 11%
Client Accounts (at month end, in thousands)
Active Brokerage Accounts (4) 11,081 11,145 11,202 11,243 11,310 11,423 11,479 11,529 11,593 11,653 11,712 11,787 11,870 1% 7%
Banking Accounts (5) 1,230 1,240 1,250 1,262 1,274 1,283 1,289 1,297 1,302 1,312 1,313 1,300 1,310 1% 7%
Corporate Retirement Plan Participants 1,599 1,599 1,599 1,611 1,621 1,627 1,634 1,639 1,655 1,679 1,685 1,684 1,690 - 6%
Client Activity
New Brokerage Accounts (in thousands) 141 122 121 118 132 119 133 115 132 131 115 140 147 5% 4%
Inbound Calls (in thousands) 2,034 1,852 1,814 1,849 1,964 1,715 1,976 1,681 1,839 1,924 1,742 1,882 1,966 4% (3%)
Web Logins (in thousands) 55,980 56,234 56,491 57,137 62,797 53,923 59,261 54,654 53,920 64,563 60,121 63,692 65,669 3% 17%
Client Cash as a Percentage of Client Assets (6) 10.9 % 10.6 % 10.7 % 10.5 % 10.4 % 10.3 % 11.1 % 11.2 % 12.8 % 11.7 % 11.5 % 11.3 % 10.9 % (40) bp -

Mutual Fund and Exchange-Traded Fund Net Buys (Sells) (7, 8)

(in millions of dollars)

Large Capitalization Stock 410 953 981 486 918 311 308 331 717 1,343 1,109 1,045 980
Small / Mid Capitalization Stock 359 753 1,195 768 (186 ) 151 (1,344 ) (456 ) (1,414 ) 1,329 638 302 136
International 809 372 (498 ) (529 ) 186 (88 ) (109 ) (418 ) (2,163 ) 2,212 1,086 1,274 863
Specialized 122 (19 ) 383 520 (245 ) 73 (914 ) (397 ) (2,105 ) 124 609 750 (109 )
Hybrid (541 ) (241 ) (288 ) (548 ) (678 ) (324 ) (1,313 ) (1,248 ) (2,985 ) (321 ) (309 ) (357 ) (228 )
Taxable Bond 1,661 1,002 928 879 965 1,371 (351 ) (836 ) (4,342 ) 3,956 2,871 1,923 3,029
Tax-Free Bond (113 ) 449 588 306 559 262 (591 ) (407 ) (409 ) 1,184 1,111 1,133 760
Net Buy (Sell) Activity (in millions of dollars)
Mutual Funds (7) (36 ) (88 ) 555 (522 ) (1,936 ) (1,538 ) (5,734 ) (7,955 ) (21,372 ) 6,740 2,312 1,850 1,860
Exchange-Traded Funds (8) 2,743 3,357 2,734 2,404 3,455 3,294 1,420 4,524 8,671 3,087 4,803 4,220 3,571
Money Market Funds (4,156 ) (2,245 ) (4,919 ) (4,801 ) 704 (1,933 ) 2,546 8,515 13,548 4,944 (1,577 ) 1,785 (2,097 )
Average Interest-Earning Assets (9)
(in millions of dollars) 239,833 242,584 249,432 254,211 259,137 261,741 264,156 265,648 274,913 277,068 270,718 272,727 270,308   (1%) 13%
   
(1) April 2018 includes outflows of $9.5 billion 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. These flows may span multiple reporting periods.
(3) Excludes Retirement Business Services.
(4) In September 2018, the definition of active brokerage accounts was standardized across all account types as accounts with activity within the preceding 270 days. This change increased active accounts by approximately 63,000.
(5) In March 2019, banking accounts were reduced by approximately 23,000 as a result of inactive account closures.
(6) Schwab One®, certain cash equivalents, bank deposits and money market fund balances as a percentage of total client assets.
(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.
(9) Represents average total interest-earning assets on the company's balance sheet.

Contact:

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

INVESTORS/ANALYSTS:
Rich Fowler
Charles Schwab
Phone: 415-667-1841

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