Schwab Reports Monthly Activity Highlights; Core Net New Assets Brought To The Company By New And Existing Clients Totaled $29B; New Brokerage Accounts Totaled 327K In July
Portfolio Pulse from Benzinga Newsdesk
Charles Schwab Corporation reported significant growth in July 2024, with core net new assets totaling $29 billion, a 16% increase in total client assets year-over-year, and 327,000 new brokerage accounts. However, transactional sweep cash saw a slight decline.
August 14, 2024 | 12:46 pm
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Charles Schwab Corporation reported strong growth in July 2024, with $29 billion in new assets and 327,000 new brokerage accounts. Total client assets increased by 16% year-over-year.
The significant increase in new assets and brokerage accounts, along with a 16% year-over-year rise in total client assets, indicates strong growth and client engagement. This is likely to positively impact SCHW's stock price in the short term.
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