Business highlights for the fourth quarter (data as of quarter-end unless otherwise noted):
- Net new accounts for the quarter totaled approximately 4,000, down 69% year-over-year. Total accounts reached 6.1 million as of December 31, 2012, up 7% year-over-year.
- Launched an enhanced On Investing ® application for the iPad ®, providing access to articles from Schwab’s On Investing ® magazine, Schwab’s latest research, expert perspectives and investment guidance all in one place.
- Launched the Schwab Advisor Center ® application for the iPad ®, enabling advisors to view key client data such as balances, positions, and transactions while away from the office.
- Launched Compliance Solutions, an offering for corporate clients which combines the capabilities of both Designated Brokerage Services and recently acquired Compliance11 to create a comprehensive compliance and employee trade monitoring solution.
For Charles Schwab Bank:
- Balance sheet assets = $85.8 billion, up 30% year-over-year.
- Outstanding mortgage and home equity loans = $9.8 billion, up 8% year-over-year.
- First mortgage originations through its loan program during the quarter = $2.2 billion, a new record.
- Delinquency, nonaccrual, and loss reserve ratios for Schwab Bank’s loan portfolio = 0.77%, 0.45% and 0.52%, respectively, at month-end December.
- Schwab Bank High Yield Investor Checking ® accounts = 671,000, with $11.6 billion in balances.
- Client assets managed by Windhaven ® totaled $13.6 billion, up 9% from the third quarter of 2012.
- Total assets under management in Schwab ETFs ™ = $8.6 billion. Total assets in Schwab Managed Portfolios-ETFs = $2.4 billion.
- Completed the acquisition of ThomasPartners, Inc., a growth and dividend income-focused asset management firm with $2.4 billion in assets under management as of December 31, 2012.
- Launched the ETF Education Exchange ™ ( www.schwabetfeducationexchange.com), a new website designed to close the knowledge gap in ETFs by aggregating educational content, research and market insights from ETF industry leaders.
- Expanded client access to fixed income securities by adding new municipal bond issues from Piper Jaffray to Schwab’s BondSource ® platform.
- Launched a new Order and Execution Management System, which leverages optionsXpress’ order routing capabilities to help create better execution opportunities for clients.
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