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    Home»Retirement planning»Schwab reports monthly business highlights
    Retirement planning

    Schwab reports monthly business highlights

    November 14, 20227 Mins Read
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    WESTLAKE, Texas–(BUSINESS WIRE)–The Charles Schwab Corporation today released its monthly business report. Company highlights for the month of October 2022 include:

    • Net new base assets contributed to the company by new and existing customers totaled $42.0 billion. Net new assets excluding mutual fund compensation totaled $33.9 billion.

    • Total client assets stood at $7 trillion at the end of October, down 12% from October 2021 and up 5% from September 2022.

    • Average interest-earning assets were $552.6 billion in October, down 4% from October 2021 and 3% from September 2022, in line with our expectations for the year described in the Fall 2022 Activity Update.

    About Charles Schwab

    Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 33.9 million active brokerage accounts, 2.3 million corporate pension plan members, 1.7 million bank accounts and $7 trillion in client assets as of October 31, 2022. its operating subsidiaries, the company offers a full range of wealth management, securities brokerage, banking, asset management, custody and financial advice to individual investors and independent investment advisers. Its brokerage subsidiaries, Charles Schwab & Co., Inc., TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. (members SIPC, https://www.sipc.org) and their affiliates offer a full range of investment services and products, including a wide selection of mutual funds; financial planning and investment advice; pension plan and equity compensation plan services; referrals to paid independent investment advisers; and custody, operations and trading support for fee-based independent investment advisors through Schwab Advisor Services. Its main banking subsidiary, Charles Schwab Bank, SSB (Member FDIC and Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.

    TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.

    Charles Schwab Corporation Monthly Activity Report for October 2022

    2021

    2022

    To change
    Oct Nov Dec Jan Feb Tue Apr May June Jul August Sep Oct Mo. Year.
    Market indices (at the end of the month)
    Dow Jones Industrial AverageĀ®

    35,820

    34,484

    36,338

    35 132

    33,893

    34,678

    32,977

    32,990

    30,775

    32,845

    31,510

    28,726

    32,733

    14

    %

    (9

    %)

    Nasdaq CompoundĀ®

    15,498

    15,538

    15,645

    14,240

    13,751

    14,221

    12,335

    12,081

    11,029

    12,391

    11,816

    10,576

    10,988

    4

    %

    (29

    %)

    Standard & Poor’sĀ® 500

    4,605

    4,567

    4,766

    4,516

    4,374

    4,530

    4,132

    4,132

    3,785

    4,130

    3,955

    3,586

    3,872

    8

    %

    (16

    %)

    Customer assets (in billions of dollars)
    Beginner Client Assets

    7,614.0

    7,982.3

    7,918.3

    8,138.0

    7,803.8

    7,686.6

    7,862.1

    7,284.4

    7,301.7

    6,832.5

    7,304.8

    7,127.6

    6,644.2

    Net new assets (1)

    22.9

    31.4

    80.3

    33.6

    40.6

    46.3

    (9.2

    )

    32.8

    19.8

    31.5

    43.3

    39.8

    42.0

    6

    %

    83

    %

    Net market gains (losses)

    345.4

    (95.4

    )

    139.4

    (367.8

    )

    (157.8

    )

    129.2

    (568.5

    )

    (15.5

    )

    (489.0

    )

    440.8

    (220.5

    )

    (523.2

    )

    318.4

    Total Client Assets (at the end of the month)

    7,982.3

    7,918.3

    8,138.0

    7,803.8

    7,686.6

    7,862.1

    7,284.4

    7,301.7

    6,832.5

    7,304.8

    7,127.6

    6,644.2

    7,004.6

    5

    %

    (12

    %)

    New core net assets (2)

    36.8

    45.1

    80.3

    33.6

    40.6

    46.3

    (9.2

    )

    32.8

    40.6

    31.5

    43.3

    39.8

    42.0

    6

    %

    14

    %

    Receive ongoing advisory services (at the end of the month)
    Investor services

    548.3

    543.1

    559.2

    541.9

    533.7

    538.9

    509.3

    513.0

    483.8

    514.8

    499.2

    466.6

    487.3

    4

    %

    (11

    %)

    Advisor Services (3)

    3,399.8

    3,374.3

    3,505.2

    3,382.4

    3,342.5

    3,404.6

    3,190.5

    3,213.8

    3,040.4

    3,222.5

    3,150.5

    2,950.9

    3,106.0

    5

    %

    (9

    %)

    Accounts (at the end of the month, in thousands)
    Active brokerage accounts (4)

    32,796

    32,942

    33,165

    33,308

    33,421

    33,577

    33,759

    33,822

    33,896

    33,934

    33,984

    33,875

    33,896

    –

    3

    %

    Bank accounts

    1,593

    1,608

    1,614

    1,628

    1,641

    1,641

    1,652

    1,658

    1,669

    1,680

    1,690

    1,696

    1,706

    1

    %

    seven

    %

    Company pension plan participants

    2,213

    2,198

    2,200

    2,216

    2,235

    2,246

    2,261

    2,275

    2,275

    2,267

    2,285

    2,305

    2,322

    1

    %

    5

    %

    Customer activity
    New brokerage accounts (in thousands)

    397

    448

    473

    426

    356

    420

    386

    323

    305

    278

    332

    287

    298

    4

    %

    (25

    %)

    Client’s cash as a percentage of client’s assets (5)

    10.4

    %

    10.5

    %

    10.9

    %

    11.3

    %

    11.5

    %

    11.4

    %

    11.9

    %

    12.0

    %

    12.8

    %

    12.0

    %

    12.1

    %

    12.9

    %

    12.2

    %

    (70) bp 180 bp
    Derivative transactions as a percentage of total transactions

    22.5

    %

    23.4

    %

    23.0

    %

    22.4

    %

    24.0

    %

    22.4

    %

    21.9

    %

    22.6

    %

    22.3

    %

    24.2

    %

    23.3

    %

    23.6

    %

    24.1

    %

    50 bp 160 bp
    Selected average balances (in millions of dollars)
    Average interest-earning assets (6)

    574 181

    584,362

    605 709

    622,997

    629,042

    644 768

    636 668

    620 157

    614 100

    605 751

    586 154

    568,351

    552 631

    (3

    %)

    (4

    %)

    Average Margin Balances

    83,835

    87,311

    88,328

    86,737

    84,354

    81,526

    83,762

    78,841

    74,577

    72 177

    72,855

    73,224

    69 188

    (6

    %)

    (17

    %)

    Average bank deposit account balances (seven)

    154,040

    153,877

    154,918

    157,706

    153,824

    155,657

    152,653

    154,669

    155,306

    154,542

    148,427

    141 198

    136,036

    (4

    %)

    (12

    %)

    Mutual fund and exchange-traded fund
    Net purchases (sales) (8.9) (in millions of dollars)
    Shares

    8,840

    13,099

    11,519

    7,384

    9,371

    14,177

    (786

    )

    1,889

    (1,586

    )

    5,589

    10,465

    (2,662

    )

    3,984

    Hybrid

    81

    308

    (1,207

    )

    (367

    )

    (478

    )

    (four hundred ninety seven

    )

    (529

    )

    (1,718

    )

    (1,054

    )

    (2,041

    )

    (783

    )

    (938

    )

    (1,380

    )

    Obligations

    4,425

    4,097

    5,600

    1,804

    (1,973

    )

    (7,851

    )

    (6,933

    )

    (6,121

    )

    (5,631

    )

    729

    (141

    )

    (5,801

    )

    (7,218

    )

    Net buying (selling) activity (in millions of dollars)
    Mutual fund (8)

    302

    189

    (2,859

    )

    (4,961

    )

    (6,318

    )

    (11,888

    )

    (16,657

    )

    (20,761

    )

    (16,258

    )

    (8,674

    )

    (7,117

    )

    (15,200

    )

    (18,473

    )

    exchange traded funds (9)

    13,044

    17,315

    18,771

    13,782

    13,238

    17,717

    8,409

    14,811

    7,987

    12,951

    16,658

    5,799

    13,859

    Money market funds

    (451

    )

    (1,725

    )

    (144

    )

    (1,984

    )

    (1,086

    )

    (1,344

    )

    (3,430

    )

    7,106

    11,544

    13,711

    19,702

    17,018

    21,542

    Note: Some additional details related to the above information can be found at: https://www.aboutschwab.com/financial-reports.

    (1)

    June 2022 includes a $20.8 billion cash outflow from a mutual fund clearing services client. November 2021 includes a $13.7 billion cash outflow from a mutual fund clearing services client. October 2021 includes a $13.9 billion cash outflow from a mutual fund clearing services client.

    (2)

    Net new assets before significant one-time inflows or outflows, such as acquisitions/disposals or extraordinary flows (generally greater than $10 billion) related to a specific customer. These flows can cover several reporting periods.

    (3)

    Excludes pension business services.

    (4)

    September 2022 includes the company-initiated closure of approximately 152,000 low balance accounts.

    (5)

    Schwab OneĀ®, certain cash equivalents, bank deposits, third party bank deposit accounts and money market fund balances as a percentage of total client assets.

    (6)

    Represents the average total of interest-earning assets on the company’s balance sheet.

    (seven)

    Represents the average uninvested cash transfer account balances of TD Ameritrade customers held in deposit accounts with third-party financial institutions.

    (8)

    Represents the principal value of clients’ mutual fund transactions processed by Schwab, including transactions in equity. Includes institutional funds available only to investment managers. Excludes transactions in money market funds.

    (9)

    Represents the primary value of customer ETF transactions processed by Schwab, including proprietary ETF transactions.

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