Schwab Reports Monthly Activity Highlights

Thursday, May 14, 2020 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 2020 include:

  • Core net new assets brought to the company by new and existing clients totaled $15.3 billion. Net new assets excluding mutual fund clearing totaled $14.4 billion. These flows reflect the extension of the federal income tax filing due date from April 15 to July 15.
  • Total client assets were $3.78 trillion as of month-end April, up 3% from April 2019 and up 8% compared to March 2020.
  • Average interest-earning assets on the company’s balance sheet were $353.0 billion in April, up 31% from April 2019 and up 11% compared to March 2020.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 360 offices and 12.9 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.4 million banking accounts, and $3.8 trillion in client assets as of April 30, 2020. 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, https://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 https://www.schwab.com and https://www.aboutschwab.com.

The Charles Schwab Corporation Monthly Activity Report For April 2020
     
 

2019

2020

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  

26,593

 

24,815

 

26,600

 

26,864

 

26,403

 

26,917

 

27,046

 

28,051

 

28,538

 

28,256

 

25,409

 

21,917

 

24,346

 

11%

 

(8%)

Nasdaq Composite  

8,095

 

7,453

 

8,006

 

8,175

 

7,963

 

7,999

 

8,292

 

8,665

 

8,973

 

9,151

 

8,567

 

7,700

 

8,890

 

15%

 

10%

Standard & Poor’s 500  

2,946

 

2,752

 

2,942

 

2,980

 

2,926

 

2,977

 

3,038

 

3,141

 

3,231

 

3,226

 

2,954

 

2,585

 

2,912

 

13%

 

(1%)

Client Assets (in billions of dollars)  

 

 

 

Beginning Client Assets  

3,585.4

 

3,668.5

 

3,530.6

 

3,702.4

 

3,746.7

 

3,716.5

 

3,768.4

 

3,854.6

 

3,942.2

 

4,038.8

 

4,051.6

 

3,862.8

 

3,496.9

 

 

 

 

Net New Assets (1)  

(0.3

)

17.3

 

20.2

 

19.3

 

19.9

 

17.4

 

35.2

 

12.0

 

30.1

 

20.9

 

24.4

 

27.9

 

15.3

 

(45%)

 

N/M

Net Market Gains (Losses)  

83.4

 

(155.2

)

151.6

 

25.0

 

(50.1

)

34.5

 

51.0

 

75.6

 

66.5

 

(8.1

)

(213.2

)

(393.8

)

266.1

 

 

 

 

Total Client Assets (at month end)  

3,668.5

 

3,530.6

 

3,702.4

 

3,746.7

 

3,716.5

 

3,768.4

 

3,854.6

 

3,942.2

 

4,038.8

 

4,051.6

 

3,862.8

 

3,496.9

 

3,778.3

 

8%

 

3%

Core Net New Assets (2)  

(0.3

)

17.3

 

20.2

 

19.3

 

19.9

 

17.4

 

24.1

 

12.0

 

30.1

 

20.9

 

24.4

 

27.9

 

15.3

 

(45%)

 

N/M

Receiving Ongoing Advisory Services (at month end)  

 

 

 

Investor Services  

305.7

 

298.5

 

311.6

 

314.8

 

314.2

 

318.5

 

324.6

 

330.8

 

337.1

 

336.8

 

323.2

 

291.5

 

309.9

 

6%

 

1%

Advisor Services (3)  

1,608.0

 

1,554.6

 

1,626.6

 

1,646.1

 

1,635.7

 

1,659.4

 

1,691.6

 

1,728.2

 

1,769.7

 

1,773.2

 

1,694.0

 

1,531.3

 

1,647.9

 

8%

 

2%

Client Accounts (at month end, in thousands)  

 

 

 

Active Brokerage Accounts  

11,870

 

11,929

 

11,967

 

12,026

 

12,085

 

12,118

 

12,189

 

12,247

 

12,333

 

12,431

 

12,521

 

12,736

 

12,866

 

1%

 

8%

Banking Accounts  

1,310

 

1,323

 

1,336

 

1,352

 

1,361

 

1,361

 

1,374

 

1,384

 

1,390

 

1,403

 

1,411

 

1,426

 

1,439

 

1%

 

10%

Corporate Retirement Plan Participants  

1,690

 

1,699

 

1,698

 

1,701

 

1,711

 

1,718

 

1,735

 

1,743

 

1,748

 

1,732

 

1,726

 

1,721

 

1,696

 

(1%)

 

-

Client Activity  

 

 

 

New Brokerage Accounts (in thousands)  

147

 

123

 

116

 

129

 

126

 

108

 

142

 

127

 

164

 

167

 

159

 

283

 

201

 

(29%)

 

37%

Inbound Calls (in thousands)  

1,966

 

1,671

 

1,595

 

1,773

 

1,759

 

1,570

 

1,771

 

1,605

 

1,884

 

1,947

 

1,831

 

2,366

 

1,824

 

(23%)

 

(7%)

Web Logins (in thousands)  

65,669

 

61,522

 

60,824

 

65,809

 

63,928

 

63,530

 

72,547

 

66,394

 

69,733

 

77,716

 

76,941

 

97,523

 

92,491

 

(5%)

 

41%

Client Cash as a Percentage of Client Assets (4)  

10.9

%

11.3

%

10.9

%

11.0

%

11.3

%

11.4

%

11.3

%

11.3

%

11.3

%

11.3

%

12.0

%

15.1

%

14.3

%

(80) bp

 

340 bp

Mutual Fund and Exchange-Traded Fund  

 

 

 

Net Buys (Sells) (5, 6) (in millions of dollars)  

 

 

 

Large Capitalization Stock  

980

 

1,114

 

206

 

717

 

328

 

23

 

900

 

1,406

 

991

 

845

 

(178

)

984

 

(693

)

 

 

 

Small / Mid Capitalization Stock  

136

 

(190

)

18

 

10

 

(374

)

(212

)

(458

)

73

 

201

 

(314

)

(531

)

(954

)

151

 

 

 

 

International  

863

 

(100

)

225

 

744

 

(1,390

)

(355

)

340

 

735

 

993

 

1,360

 

132

 

(2,116

)

(2,207

)

 

 

 

Specialized  

(109

)

(440

)

341

 

418

 

353

 

583

 

618

 

484

 

455

 

762

 

397

 

333

 

2,059

 

 

 

 

Hybrid  

(228

)

(316

)

(181

)

(366

)

(569

)

(372

)

(202

)

(290

)

(96

)

615

 

(257

)

(4,790

)

(860

)

 

 

 

Taxable Bond  

3,029

 

1,821

 

2,378

 

3,806

 

2,725

 

2,935

 

2,813

 

2,274

 

4,710

 

5,714

 

3,830

 

(23,142

)

1,642

 

 

 

 

Tax-Free Bond  

760

 

1,057

 

682

 

960

 

760

 

593

 

809

 

860

 

1,255

 

1,481

 

1,066

 

(5,229

)

(242

)

 

 

 

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

 

 

 

Mutual Funds (5)  

1,860

 

86

 

7

 

2,151

 

(1,281

)

(573

)

(473

)

(761

)

1,097

 

2,684

 

(565

)

(34,382

)

(3,863

)

 

 

 

Exchange-Traded Funds (6)  

3,571

 

2,860

 

3,662

 

4,138

 

3,114

 

3,768

 

5,293

 

6,303

 

7,412

 

7,779

 

5,024

 

(532

)

3,713

 

 

 

 

Money Market Funds  

(2,097

)

5,067

 

4,570

 

6,143

 

6,068

 

5,833

 

7,059

 

4,768

 

1,515

 

1,911

 

1,312

 

(1,233

)

8,465

 

 

 

 

Average Interest-Earning Assets (7)  

 

 

 

(in millions of dollars)  

270,308

 

263,718

 

262,759

 

263,993

 

265,005

 

266,430

 

266,089

 

268,254

 

274,911

 

279,437

 

278,966

 

317,850

 

353,018

 

11%

 

31%

(1)

October 2019 includes an inflow of $11.1 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 and money market fund balances as a percentage of total client assets.

(5)

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.

(6)

Represents the principal value of client ETF transactions handled by Schwab, including transactions in proprietary ETFs.

(7)

Represents average total interest-earning assets on the company's balance sheet.
N/M - Not meaningful

 

Contact:

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

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

Multimedia Files:

PDF of press release and table
XLS of table only
Preview image

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