Schwab Reports Monthly Activity Highlights

WESTLAKE, Texas--(BUSINESS WIRE)--The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of October 2024 include:

• Core net new assets brought to the company by new and existing clients totaled $24.6 billion. Net new assets excluding mutual fund clearing totaled $21.0 billion.
• Total client assets equaled $9.85 trillion as of month-end October, up 29% from October 2023 and down 1% compared to September 2024.
• Transactional sweep cash ended October at $394.0 billion, representing an increase of $10.0 billion versus the prior month.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 36.1 million active brokerage accounts, 5.4 million workplace plan participant accounts, 2.0 million banking accounts, and $9.85 trillion in client assets as of October 31, 2024. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.

The Charles Schwab Corporation Monthly Activity Report For October 2024
	2023						2024																				Change
	Oct		Nov		Dec		Jan		Feb		Mar		Apr		May		Jun		Jul		Aug		Sep		Oct		Mo.	Yr.
Market Indices (at month end)
Dow Jones Industrial Average^®	33,053		35,951		37,690		38,150		38,996		39,807		37,816		38,686		39,119		40,843		41,563		42,330		41,763		(1%)	26%
Nasdaq Composite^®	12,851		14,226		15,011		15,164		16,092		16,379		15,658		16,735		17,733		17,599		17,714		18,189		18,095		(1%)	41%
Standard & Poor’s^® 500	4,194		4,568		4,770		4,846		5,096		5,254		5,036		5,278		5,460		5,522		5,648		5,762		5,705		(1%)	36%
Client Assets (in billions of dollars)
Beginning Client Assets	7,824.5		7,653.4		8,180.6		8,516.6		8,558.1		8,879.5		9,118.4		8,847.5		9,206.3		9,407.5		9,572.1		9,737.7		9,920.5
Net New Assets^(1)	5.0		19.2		42.1		14.8		31.7		41.7		10.0		31.0		33.2		29.0		31.5		30.3		22.7		(25%)	N/M
Net Market (Losses) Gains	(176.1	)	508.0		293.9		26.7		289.7		197.2		(280.9	)	327.8		168.0		135.6		134.1		152.5		(91.2	)
Total Client Assets (at month end)	7,653.4		8,180.6		8,516.6		8,558.1		8,879.5		9,118.4		8,847.5		9,206.3		9,407.5		9,572.1		9,737.7		9,920.5		9,852.0		(1%)	29%
Core Net New Assets^(1,2)	11.3		21.7		43.1		17.2		33.4		45.0		1.0		31.1		29.1		29.0		32.8		33.5		24.6		(27%)	118%
Receiving Ongoing Advisory Services (at month end)
Investor Services	522.2		557.0		581.4		584.1		601.8		618.5		602.2		624.0		632.9		649.1		663.7		675.1		665.6		(1%)	27%
Advisor Services ^(3)	3,380.3		3,604.4		3,757.4		3,780.4		3,902.5		4,009.5		3,893.9		4,027.3		4,090.0		4,185.4		4,268.1		4,343.8		4,303.3		(1%)	27%
Client Accounts (at month end, in thousands)
Active Brokerage Accounts	34,571		34,672		34,838		35,017		35,127		35,301		35,426		35,524		35,612		35,743		35,859		35,982		36,073		-	4%
Banking Accounts	1,812		1,825		1,838		1,856		1,871		1,885		1,901		1,916		1,931		1,937		1,940		1,954		1,967		1%	9%
Workplace Plan Participant Accounts ^(4)	5,212		5,212		5,221		5,226		5,268		5,277		5,282		5,345		5,363		5,382		5,373		5,388		5,407		-	4%
Client Activity
New Brokerage Accounts (in thousands)	284		286		340		366		345		383		361		314		310		327		324		321		331		3%	17%
Client Cash as a Percentage of Client Assets ^(5)	11.2	%	10.7	%	10.5	%	10.5	%	10.2	%	10.0	%	10.2	%	9.9	%	9.7	%	9.6	%	9.5	%	9.5	%	9.8	%	30 bp	(140) bp
Derivative Trades as a Percentage of Total Trades	23.2	%	23.1	%	21.8	%	21.8	%	22.2	%	21.9	%	22.1	%	21.9	%	21.3	%	21.2	%	20.8	%	21.5	%	21.4	%	(10) bp	(180) bp
Selected Average Balances (in millions of dollars)
Average Interest-Earning Assets ^(6)	438,522		439,118		446,305		443,694		434,822		431,456		423,532		415,950		417,150		417,379		420,191		420,203		422,327		1%	(4%)
Average Margin Balances	63,946		61,502		62,309		61,368		63,600		66,425		68,827		67,614		69,730		73,206		73,326		72,755		74,105		2%	16%
Average Bank Deposit Account Balances ^(7)	97,893		94,991		95,518		95,553		92,075		90,774		88,819		86,844		85,195		83,979		82,806		82,336		83,261		1%	(15%)
Mutual Fund and Exchange-Traded Fund
Net Buys (Sells) ^(8,9)(in millions of dollars)
Equities	(3,039	)	6,099		7,903		8,182		7,624		10,379		3,472		5,734		3,379		10,908		5,609		5,217		7,176
Hybrid	(1,457	)	(1,466	)	(1,596	)	(501	)	(1,330	)	(439	)	(703	)	(558	)	(843	)	(1,155	)	(1,377	)	(432	)	(1,397	)
Bonds	1,094		255		6,104		7,510		9,883		7,561		5,949		5,854		6,346		8,651		10,919		11,015		10,442
Net Buy (Sell) Activity (in millions of dollars)
Mutual Funds ^(8)	(12,245	)	(9,267	)	(7,406	)	(966	)	(1,348	)	(1,607	)	(4,818	)	(5,544	)	(4,254	)	(4,679	)	(4,003	)	(1,261	)	(4,905	)
Exchange-Traded Funds ^(9)	8,843		14,155		19,817		16,157		17,525		19,108		13,536		16,574		13,136		23,083		19,154		17,061		21,126
Money Market Funds	16,976		11,670		7,745		11,717		10,129		9,085		(2,357	)	9,790		3,858		9,110		8,048		9,672		11,032

	Note: Certain supplemental details related to the information above can be found at: https://www.aboutschwab.com/financial-reports.
^(1)	Unless otherwise noted, differences between net new assets and core net new assets are net flows from off-platform Schwab Bank Retail CDs. 2024 also includes an inflow of $10.3 billion from a mutual fund clearing services client in April and outflows from a large international relationship of $0.1 billion in August and $0.3 billion in October. 2023 also includes outflows from a large international relationship of $6.2 billion in October, $5.4 billion in November, and $0.6 billion in December.
^(2)	Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than $10 billion) relating to a specific client, and activity from off-platform Schwab Bank Retail CDs. These flows may span multiple reporting periods.
^(3)	Excludes Retirement Business Services.
^(4)	Includes accounts in Stock Plan Services, Designated Brokerage Services, and Retirement Business Services; Participants may be enrolled in services in more than one Workplace business.
^(5)	Schwab One^®, certain cash equivalents, bank deposits, third-party bank deposit accounts, and money market fund balances as a percentage of total client assets; client cash excludes brokered CDs issued by Charles Schwab Bank.
^(6)	Represents average total interest-earning assets on the Company's balance sheet.
^(7)	Represents average clients’ uninvested cash sweep account balances held in deposit accounts at third-party financial institutions.
^(8)	Represents the principal value of client mutual fund transactions handled by Schwab, including transactions in proprietary funds. Includes institutional funds available only to Investment Managers. Excludes money market fund transactions.
^(9)	Represents the principal value of client ETF transactions handled by Schwab, including transactions in proprietary ETFs.
	N/M - Not meaningful. Percentage changes greater than 200% are presented as not meaningful.