Schwab Total Client Assets Reached $8.5 Trillion At Year End, Up 21%; December Core Net New Assets Exceed $40B, Annualized Growth Rate Of 6%
Portfolio Pulse from Benzinga Newsdesk
Schwab's total client assets reached $8.5 trillion at the end of the year, marking a 21% increase. In December, Schwab saw more than $40 billion in core net new assets, which translates to an annualized growth rate of 6%.
January 17, 2024 | 12:33 pm
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Schwab reported a significant increase in total client assets to $8.5 trillion, a 21% year-over-year growth, and a substantial inflow of core net new assets in December amounting to over $40 billion.
The reported increase in total client assets and the substantial core net new assets for December indicate strong financial performance and client trust in Schwab. This positive news is likely to instill investor confidence and could lead to a short-term uptick in SCHW's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100