Schwab Reports Monthly Activity; Core Net New Assets Brought To Co. Totaled $13.7B. Total Client Assets $8.24T, Up 13% YoY
Portfolio Pulse from Benzinga Newsdesk
Schwab reported its monthly activity, with core net new assets brought to the company totaling $13.7 billion. Total client assets were $8.24 trillion as of the end of July, up 13% YoY and 3% MoM. However, average margin balances were $63.0 billion in July, down 13% YoY but up 2% MoM.
August 14, 2023 | 11:48 am
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POSITIVE IMPACT
Schwab's monthly report shows a positive trend in net new assets and total client assets, but a decrease in average margin balances compared to last year.
The increase in net new assets and total client assets indicates a positive growth for Schwab, which could potentially attract more investors and drive the stock price up. However, the decrease in average margin balances might be a concern for some investors, as it could indicate a decrease in trading activity or a more conservative approach by clients.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100