The Charles Schwab Corporation released its Monthly Market Activity Report today. Company highlights for the month of May 2013 include:
- Net new assets brought to the company by new and existing clients in May 2013 totaled negative $1.9 billion. May 2013 net new assets included a $10.3 billion outflow related to a mutual fund clearing services client. The clearing outflow is part of a planned transfer totaling approximately $80 billion occurring over an extended period. Transfers to date related to this client total approximately $18 billion.
- Total client assets were a record $2.11 trillion as of month-end May, up 20% from May 2012 and flat compared to April 2013.
- Client daily average trades were 505.4 thousand in May 2013, up 17% compared to May 2012 and up 8% compared to April 2013.
The SMART report can be viewed with its accompanying 12-month data at www.aboutschwab.com/investor_relations/financial_reports
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 300 offices and 8.9 million client brokerage accounts, 1.6 million corporate retirement plan participants, 903,000 banking accounts, and $2.11 trillion in client assets as of May 31, 2013. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member
www.sipc.org), and 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; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at
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