Schwab Reports Monthly Activity Highlights; Total Client Assets Were $8.56T As Of Month-End January, Up 14% YoY And Flat Versus December 2023
Portfolio Pulse from Benzinga Newsdesk
The Charles Schwab Corporation (SCHW) reported its Monthly Activity Report for January 2024, highlighting a 14% year-over-year increase in total client assets to $8.56 trillion, and a flat comparison to December 2023. Core net new assets were $17.2 billion, with $21.4 billion excluding Ameritrade originated clients. Transactional sweep cash decreased by $11.3 billion due to typical January seasonality.
February 14, 2024 | 1:54 pm
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POSITIVE IMPACT
Charles Schwab's January 2024 report indicates a strong year-over-year growth in client assets and a significant addition of core net new assets, despite a seasonal decrease in transactional sweep cash.
The reported increase in total client assets and core net new assets suggests a positive outlook for SCHW, indicating strong business growth and client trust. The seasonal decrease in transactional sweep cash is typical and likely won't negatively impact investor sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100