The Charles Schwab Corporation released its Monthly Market Activity Report today. Company highlights for the month of February 2013 include:
- Net new assets brought to the company by new and existing clients in February 2013 totaled $18.3 billion, including an $8.1 billion inflow related to a mutual fund clearing services client.
- Total client assets were a record $2.04 trillion as of month-end February, up 13% from February 2012 and up 1% compared to January 2013.
- Client daily average trades were 506.1 thousand in February 2013, up 1% compared to February 2012 and flat compared to January 2013. February 2013 trading activity included a 2% sequential decline 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.Forward Looking Statements This press release contains forward looking statements relating to the company’s compensation expense, trading, spending plans, expense growth and earnings per share. Achievement of these expectations is subject to risks and uncertainties that could cause actual results to differ materially from the expressed expectations. Important factors that may cause such differences include, but are not limited to, general market conditions, including the level of interest rates, equity valuations and trading activity; the company’s ability to manage expenses; acquisition integration costs; net interest margin; the company’s ability to attract and retain clients and grow client assets/relationships; competitive pressures on rates and fees; the level of client assets, including cash balances; the company’s ability to monetize client assets; the company’s ability to develop and launch new products, services and capabilities in a timely and successful manner; capital needs and management; the impact of changes in market conditions on money market fund fee waivers, revenues, expenses and pre-tax margins; the effect of adverse developments in litigation or regulatory matters and the extent of any charges associated with legal matters; any adverse impact of financial reform legislation and related regulations; and other factors set forth in the company’s Form 10-K for the period ending December 31, 2012. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 300 offices and 8.8 million client brokerage accounts, 1.6 million corporate retirement plan participants, 881,000 banking accounts, and $2.04 trillion in client assets as of February 28, 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 SIPC, 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 www.schwab.com and www.aboutschwab.com.