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Schwab Reports Monthly Activity Highlights

11/12/2021

The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of October 2021 include:

  • Core net new assets brought to the company by new and existing clients totaled $36.8 billion. Net new assets excluding mutual fund clearing totaled $35.9 billion.
  • Total client assets were $7.98 trillion as of month-end October, up 36% from October 2020 and up 5% compared to September 2021.
  • Average margin balances were $83.8 billion in October, up 74% from October 2020 and up 3% compared to September 2021.(1)

(1)

 

Year-over-year comparisons are affected by the close of the TD Ameritrade acquisition on October 6, 2020

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 32.8 million active brokerage accounts, 2.2 million corporate retirement plan participants, 1.6 million banking accounts, and $7.98 trillion in client assets as of October 31, 2021. 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 October 2021
 

2020

2021

Change
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Mo. Yr.
Market Indices (at month end)
Dow Jones Industrial Average

26,502

 

29,639

 

30,606

 

29,983

 

30,932

 

32,982

 

33,875

 

34,529

 

34,503

 

34,935

 

35,361

 

33,844

 

35,820

 

6%

 

35%

Nasdaq Composite

10,912

 

12,199

 

12,888

 

13,071

 

13,192

 

13,247

 

13,963

 

13,749

 

14,504

 

14,673

 

15,259

 

14,449

 

15,498

 

7%

 

42%

Standard & Poor’s® 500

3,270

 

3,622

 

3,756

 

3,714

 

3,811

 

3,973

 

4,181

 

4,204

 

4,298

 

4,395

 

4,523

 

4,308

 

4,605

 

7%

 

41%

Client Assets (in billions of dollars)

 

 

 

Beginning Client Assets

4,395.3

 

5,878.5

 

6,421.0

 

6,691.7

 

6,759.6

 

6,900.5

 

7,069.1

 

7,336.1

 

7,395.7

 

7,574.8

 

7,642.7

 

7,838.2

 

7,614.0

 

 

 

 

Net New Assets (1)

1,596.9

 

32.1

 

61.7

 

34.2

 

37.0

 

62.6

 

37.2

 

28.1

 

43.5

 

44.3

 

51.8

 

42.9

 

22.9

 

(47%)

 

(99%)

Net Market (Losses) Gains

(113.7

)

510.4

 

209.0

 

33.7

 

103.9

 

106.0

 

229.8

 

31.5

 

135.6

 

23.6

 

143.7

 

(267.1

)

345.4

 

 

 

 

Total Client Assets (at month end)

5,878.5

 

6,421.0

 

6,691.7

 

6,759.6

 

6,900.5

 

7,069.1

 

7,336.1

 

7,395.7

 

7,574.8

 

7,642.7

 

7,838.2

 

7,614.0

 

7,982.3

 

5%

 

36%

Core Net New Assets (2)

25.6

 

32.1

 

61.7

 

34.2

 

51.4

 

62.6

 

37.2

 

28.1

 

43.5

 

44.3

 

51.8

 

42.9

 

36.8

 

(14%)

 

44%

Receiving Ongoing Advisory Services (at month end) (3)

 

 

 

Investor Services

425.3

 

457.1

 

471.8

 

472.4

 

481.3

 

495.2

 

511.1

 

517.8

 

525.1

 

531.9

 

542.5

 

530.1

 

548.3

 

3%

 

29%

Advisor Services (4)

2,505.5

 

2,715.7

 

2,828.3

 

2,840.6

 

2,913.3

 

2,997.9

 

3,112.5

 

3,150.4

 

3,209.3

 

3,256.5

 

3,333.4

 

3,253.2

 

3,399.8

 

5%

 

36%

Client Accounts (at month end, in thousands)

 

 

 

Active Brokerage Accounts

29,013

 

29,202

 

29,629

 

30,534

 

31,523

 

31,902

 

31,877

 

32,110

 

32,265

 

32,386

 

32,513

 

32,675

 

32,796

 

-

 

13%

Banking Accounts

1,496

 

1,504

 

1,499

 

1,518

 

1,542

 

1,608

 

1,562

 

1,584

 

1,574

 

1,578

 

1,594

 

1,580

 

1,593

 

1%

 

6%

Corporate Retirement Plan Participants

2,072

 

2,045

 

2,054

 

2,069

 

2,093

 

2,105

 

2,116

 

2,130

 

2,149

 

2,159

 

2,188

 

2,207

 

2,213

 

-

 

7%

Client Activity

 

 

 

New Brokerage Accounts (in thousands) (5)

14,718

 

430

 

626

 

1,095

 

1,211

 

847

 

609

 

549

 

499

 

402

 

402

 

374

 

397

 

6%

 

(97%)

Client Cash as a Percentage of Client Assets (6)

13.4%

12.4%

12.3%

12.2%

11.8%

11.5%

10.9%

10.8%

10.5%

10.4%

10.3%

10.8%

10.4%

(40) bp

 

(300) bp

Derivative Trades as a Percentage of Total Trades

20.5%

19.4%

18.9%

17.4%

16.6%

18.5%

20.4%

20.9%

20.6%

22.2%

23.1%

23.1%

22.5%

(60) bp

 

200 bp

Selected Average Balances (in millions of dollars)

 

 

 

Average Interest-Earning Assets (7,8)

442,119

 

466,677

 

482,394

 

517,306

 

514,885

 

520,074

 

527,194

 

528,642

 

536,146

 

546,579

 

552,372

 

565,379

 

574,181

 

2%

 

30%

Average Margin Balances (8)

48,095

 

53,916

 

59,142

 

62,999

 

69,064

 

71,266

 

72,863

 

75,921

 

78,410

 

79,910

 

81,021

 

81,705

 

83,835

 

3%

 

74%

Average Bank Deposit Account Balances (8,9)

132,030

 

162,315

 

163,463

 

167,980

 

167,433

 

164,866

 

162,392

 

160,459

 

161,377

 

151,275

 

150,896

 

152,330

 

154,040

 

1%

 

17%

Mutual Fund and Exchange-Traded Fund
Net Buys (Sells) (10,11) (in millions of dollars)
Equities

(1,305

)

10,980

 

13,875

 

8,234

 

14,246

 

16,301

 

13,422

 

9,854

 

10,873

 

7,418

 

8,808

 

7,596

 

8,840

 

Hybrid

(553

)

(402

)

359

 

407

 

832

 

1,133

 

877

 

1

 

390

 

666

 

569

 

335

 

81

 

Bonds

6,765

 

5,956

 

12,169

 

13,601

 

9,334

 

8,237

 

8,940

 

5,906

 

10,101

 

6,917

 

8,044

 

6,232

 

4,425

 

Net Buy (Sell) Activity (in millions of dollars)
Mutual Funds (10)

(2,260

)

2,832

 

6,336

 

5,713

 

6,273

 

6,190

 

5,754

 

2,022

 

5,872

 

2,644

 

3,876

 

(308

)

302

 

Exchange-Traded Funds (11)

7,167

 

13,702

 

20,067

 

16,529

 

18,139

 

19,481

 

17,485

 

13,739

 

15,492

 

12,357

 

13,545

 

14,471

 

13,044

 

Money Market Funds

(4,021

)

(5,908

)

(7,332

)

(5,248

)

(4,405

)

(4,528

)

(5,153

)

(3,988

)

(3,806

)

(2,501

)

(1,372

)

(1,512

)

(451

)

Note: Certain supplemental details related to the information above can be found at: https://www.aboutschwab.com/financial-reports.

(1)

October 2021 includes an outflow of $13.9 billion from a mutual fund clearing services client. February 2021 includes an outflow of $14.4 billion from a mutual fund clearing services client. October 2020 includes an inflow of $1.6 trillion related to the acquisition of TD Ameritrade. 

(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)

Beginning in December 2020, AdvisorDirect® assets are presented as Investor Services. In December 2020, $46.5 billion and $50.4 billion for October and November, respectively, were reclassed from Advisor Services to Investor Services.

(4)

Excludes Retirement Business Services.

(5)

October 2020 includes 14.5 million new brokerage accounts related to the acquisition of TD Ameritrade.

(6)

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

(7)

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

(8)

October 2020 averages reflect a full month of Schwab balances and 26 days of TD Ameritrade balances following the acquisition closing on October 6, 2020. Calculating the consolidated daily average from the closing date onwards would result in Average Interest-Earning Assets, Average Margin Balances, and Average Bank Deposit Account Balances of $450,004 million, $52,744 million, and $157,414 million, respectively.

(9)

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

(10)

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.

(11)

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

 

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

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

Source: The Charles Schwab Corporation

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