The Charles Schwab Corporation released its Monthly Market Activity Report today. Company highlights for the month of October 2013 include:
- Net new assets brought to the company by new and existing clients in October 2013 totaled negative $19.8 billion. October 2013 net new assets included a $30.2 billion outflow related to a mutual fund clearing services client, representing the final part of a planned transfer, which totaled approximately $75 billion. Net new assets for the month also included a $2.9 billion inflow related to another mutual fund clearing services client.
- Total client assets were a record $2.18 trillion as of month-end October, up 15% from October 2012 and up 2% compared to September 2013.
- Client daily average trades were 490.8 thousand in October 2013, up 12% compared to October 2012 and up 5% compared to September 2013. October 2013 trading activity included a 5% sequential increase in daily average revenue trades.
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 9.0 million active
brokerage accounts, 1.3 million corporate retirement plan participants,
930,000 banking accounts, and $2.18 trillion in client assets as of
October 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.,
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; 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.
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