Schwab Reports Monthly Activity Highlights; Core Net New Assets Brought To The Company Excluding Ameritrade Brokerage Originated Clients Equaled $16.1B For The Month, While Total Core Net New Assets Across All Clients Totaled $11.3B In October
Portfolio Pulse from Benzinga Newsdesk
The Charles Schwab Corporation (SCHW) reported its October 2023 Monthly Activity highlights, including core net new assets of $16.1 billion excluding Ameritrade clients and $11.3 billion total. Client assets reached $7.65 trillion, up 9% year-over-year but down 2% from September. Client cash and bank deposits totaled $397.9 billion. The company aims to enhance transparency by providing additional data in its Monthly Activity Report Supplement.
November 14, 2023 | 2:04 pm
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SCHW reported strong core net new assets and an increase in total client assets year-over-year, indicating continued growth despite a monthly dip.
The reported increase in core net new assets and year-over-year growth in client assets are positive indicators of SCHW's performance and may lead to a positive short-term impact on the stock price. The slight monthly decrease in client assets is not unusual and is offset by the overall positive trend.
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