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Schwab Third Quarter Revenues Rise 15%, Reach Highest Level In 13 Years

Business highlights for the third quarter (data as of quarter-end unless otherwise noted):

Investor Services

  • Net new retail brokerage accounts for the quarter totaled approximately 16,000, up 14% year-over-year; total accounts reached 6.2 million as of September 30, 2013, up 2% year-over-year.
  • Delivered financial plans to approximately 26,000 clients, up 63% year-over-year. Approximately 74,000 clients have received a financial plan year-to-date.
  • Redesigned the Schwab Learning Center to offer new Trading Paths, which provide simple, efficient trading information and insights, and intuitive access to live and on-demand workshops, event schedules, and Trading Catalog articles covering a range of trading topics.

Products and Infrastructure

  • For Charles Schwab Bank:
    • Balance sheet assets = $97.9 billion, up 30% year-over-year.
    • Outstanding mortgage and home equity loans = $10.9 billion, up 17% year-over-year.
    • First mortgage originations through its loan program during the quarter = $1.2 billion.
    • Delinquency, nonaccrual, and loss reserve ratios for Schwab Bank’s loan portfolio = 0.51%, 0.38% and 0.43%, respectively, at month-end September.
    • Schwab Bank High Yield Investor Checking ® accounts = 733,000, with $11.6 billion in balances.
  • Client assets managed by Windhaven ® totaled $18.2 billion, up 46% from the third quarter of 2012.
  • Client assets managed by ThomasPartners ® totaled $3.3 billion.
  • Introduced six Schwab Fundamental Index* ETFs, expanding the company’s existing proprietary offering to 21 equity and fixed income ETFs.
  • Total assets under management in Schwab ETFs = $14.3 billion. Total assets in Schwab Managed Portfolios-ETFs = $2.8 billion.

*Schwab is a registered trademark of Charles Schwab & Co., Inc. Fundamental Index is a registered trademark of Research Affiliates LLC.

Supporting schedules are either attached or located at: www.aboutschwab.com/investor_relations/financial_reports

Forward Looking Statements

This press release contains forward-looking statements relating to growth in the company’s client base and stockholder value; introduction of the ETF 401(k) Plan solution; improved earnings, balance sheet growth and increased capital flexibility; growth in revenues, earnings and profits; gap between revenue and expense growth; pre-tax profit margin; and growth and increased operating leverage. Achievement of these expectations and objectives is subject to risks and uncertainties that could cause actual results to differ materially from the expressed expectations.

Stock quotes in this article: SCHW 

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