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Schwab (SCHW) Reports Monthly Activity Highlights

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June 14, 2021 8:46 AM EDT

The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of May 2021 include:

  • Core net new assets brought to the company by new and existing clients totaled $28.1 billion. Net new assets excluding mutual fund clearing totaled $27.9 billion.
  • Total client assets were $7.40 trillion as of month-end May, up 84% from May 2020 and up 1% compared to April 2021.(1)
  • Average interest-earning assets were $528.6 billion in May, up 46% from May 2020 and flat compared to April 2021.(1)

(1)

Year over year comparisons are affected by the close of the TD Ameritrade acquisition on October 6, 2020

The Charles Schwab Corporation Monthly Activity Report For May 2021

2020

2021

 Change
May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Mo. Yr.
Market Indices (at month end)
Dow Jones Industrial Average

25,383

25,813

26,428

28,430

27,782

26,502

29,639

30,606

29,983

30,932

32,982

33,875

34,529

2%

36%

Nasdaq Composite

9,490

10,059

10,745

11,775

11,168

10,912

12,199

12,888

13,071

13,192

13,247

13,963

13,749

(2%)

45%

Standard & Poor’s® 500

3,044

3,100

3,271

3,500

3,363

3,270

3,622

3,756

3,714

3,811

3,973

4,181

4,204

1%

38%

Client Assets (in billions of dollars)

Beginning Client Assets

3,778.3

4,009.0

4,110.1

4,278.0

4,489.7

4,395.3

5,878.5

6,421.0

6,691.7

6,759.6

6,900.5

7,069.1

7,336.1

Net New Assets (1)

97.5

24.6

11.2

20.0

20.0

1,596.9

32.1

61.7

34.2

37.0

62.6

37.2

28.1

(24%)

(71%)

Net Market Gains (Losses)

133.2

76.5

156.7

191.7

(114.4

)

(113.7

)

510.4

209.0

33.7

103.9

106.0

229.8

31.5

Total Client Assets (at month end)

4,009.0

4,110.1

4,278.0

4,489.7

4,395.3

5,878.5

6,421.0

6,691.7

6,759.6

6,900.5

7,069.1

7,336.1

7,395.7

1%

84%

Core Net New Assets (2)

17.6

13.7

2.7

20.0

20.0

25.6

32.1

61.7

34.2

51.4

62.6

37.2

28.1

(24%)

60%

Receiving Ongoing Advisory Services (at month end) (3)

Investor Services

339.8

345.2

355.6

366.8

361.2

425.3

457.1

471.8

472.4

481.3

495.2

511.1

517.8

1%

52%

Advisor Services (4)

1,711.7

1,747.5

1,818.5

1,900.5

1,870.1

2,505.5

2,715.7

2,828.3

2,840.6

2,913.3

2,997.9

3,112.5

3,150.4

1%

84%

Client Accounts (at month end, in thousands)

Active Brokerage Accounts

14,007

14,107

14,220

14,311

14,393

29,013

29,202

29,629

30,534

31,523

31,902

31,877

32,110

1%

129%

Banking Accounts

1,448

1,463

1,480

1,493

1,486

1,496

1,504

1,499

1,518

1,542

1,608

1,562

1,584

1%

9%

Corporate Retirement Plan Participants

1,714

1,716

1,712

1,715

1,722

2,072

2,045

2,054

2,069

2,093

2,105

2,116

2,130

1%

24%

Client Activity

New Brokerage Accounts (in thousands) (5)

1,250

201

206

202

184

14,718

430

626

1,095

1,211

847

609

549

(10%)

(56%)

Client Cash as a Percentage of Client Assets (6)

14.0%

13.6%

13.0%

12.5%

12.8%

13.4%

12.4%

12.3%

12.2%

11.8%

11.5%

10.9%

10.8%

(10) bp

(320) bp

Derivative Trades as a Percentage of Total Trades

12.2%

10.6%

13.1%

13.8%

14.5%

20.5%

19.4%

18.9%

17.4%

16.6%

18.5%

20.4%

20.9%

50 bp

870 bp

Selected Average Balances (in millions of dollars)

Average Interest-Earning Assets (7,8)

361,814

373,986

379,521

384,690

392,784

442,119

466,677

482,394

517,306

514,885

520,074

527,194

528,642

-

46%

Average Margin Balances (8)

17,839

18,658

19,802

21,190

22,780

48,095

53,916

59,142

62,999

69,064

71,266

72,863

75,921

4%

N/M

Average Bank Deposit Account Balances (8,9)

-

-

-

-

-

132,030

162,315

163,463

167,980

167,433

164,866

162,392

160,459

(1%)

N/M

Mutual Fund and Exchange-Traded Fund
Net Buys (Sells) (10,11) (in millions of dollars)
Equities

(1,610

)

(2,877

)

(3,280

)

(727

)

(1,372

)

(1,305

)

10,980

13,875

8,234

14,246

16,301

13,422

9,854
Hybrid

(518

)

(97

)

(769

)

(124

)

(12

)

(553

)

(402

)

359

407

832

1,133

877

1
Bonds

6,274

10,925

8,611

9,328

6,857

6,765

5,956

12,169

13,601

9,334

8,237

8,940

5,906
Net Buy (Sell) Activity (in millions of dollars)
Mutual Funds (10)

(564

)

1,768

(147

)

2,568

757

(2,260

)

2,832

6,336

5,713

6,273

6,190

5,754

2,022
Exchange-Traded Funds (11)

4,710

6,183

4,709

5,909

4,716

7,167

13,702

20,067

16,529

18,139

19,481

17,485

13,739
Money Market Funds

4,833

(5,673

)

(9,039

)

(5,614

)

(6,627

)

(4,021

)

(5,908

)

(7,332

)

(5,248

)

(4,405

)

(4,528

)

(5,153

)

(3,988

)

(1)

 February 2021 includes an outflow of $14.4 billion from a mutual fund clearing services client. October 2020 includes an inflow of $1.6 trillion related to the acquisition of TD Ameritrade. July 2020 includes an inflow of $8.5 billion related to the acquisition of Wasmer, Schroeder & Company, LLC. June 2020 includes an inflow of $10.9 billion from a mutual fund clearing services client. May 2020 includes an inflow of $79.9 billion related to the acquisition of the assets of USAA’s Investment Management Company.

(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. These flows may span multiple reporting periods.

(3)

 Beginning in December 2020, AdvisorDirect® assets are presented as Investor Services. In December 2020, $46.5 billion and $50.4 billion for October and November, respectively, were reclassed from Advisor Services to Investor Services.

(4)

 Excludes Retirement Business Services.

(5)

 October 2020 includes 14.5 million new brokerage accounts related to the acquisition of TD Ameritrade. May 2020 includes 1.1 million new brokerage accounts related to the acquisition of the assets of USAA’s Investment Management Company.

(6)

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

(7)

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

(8)

 October 2020 averages reflect a full month of Schwab balances and 26 days of TD Ameritrade balances following the acquisition closing on October 6, 2020. Calculating the consolidated daily average from the closing date onwards would result in Average Interest-Earning Assets, Average Margin Balances, and Average Bank Deposit Account Balances of $450,004 million, $52,744 million, and $157,414 million, respectively.

(9)

 Represents average TD Ameritrade clients’ uninvested cash sweep account balances held in deposit accounts at third-party financial institutions.

(10)

 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.
Additional fund categories can be found at: https://www.aboutschwab.com/financial-reports.

(11)

 Represents the principal value of client ETF transactions handled by Schwab, including transactions in proprietary ETFs. Additional fund categories can be found at: https://www.aboutschwab.com/financial-reports.
N/M - Not meaningful. Percentage changes greater than 200% are presented as not meaningful.


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