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., 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; 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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