Schwab New Brokerage Accounts Were 314,000 In May, Flat YoY And Down 13% Compared To April 2024
Portfolio Pulse from Benzinga Newsdesk
Charles Schwab reported 314,000 new brokerage accounts in May, which is flat year-over-year but down 13% compared to April 2024.
June 14, 2024 | 12:54 pm
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Charles Schwab reported 314,000 new brokerage accounts in May, flat year-over-year but down 13% compared to April 2024. This could indicate a slowdown in new customer acquisition.
The flat year-over-year growth and a significant 13% drop from the previous month suggest a potential slowdown in new customer acquisition, which could negatively impact Schwab's revenue growth and investor sentiment in the short term.
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