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Schwab (SCHW) Reports Improvement in November Client Assets

Zacks Equity Research

Charles Schwab SCHW has released the monthly activity report for November 2019. Total client assets were $3.94 trillion, up 2% from October and 15% from the year-ago month.

Client assets receiving ongoing advisory services were $2.06 trillion, up 2% from the prior month and 15% year over year. Net new assets of $12 billion, however,declined 66% from the previous month and 23% year over year.

Schwab’s average interest earning assets were $268.3 billion at the end of November, up 1% from both October 2019 andNovember 2018. The company opened 127,000 new brokerage accounts in the reported month, down 11% sequentially but up10% year over year.

Schwab’s active brokerage accounts totaled 12.2 million at the end of November, on par with the October 2019 level. The figure was up 6% from the year-ago month.

Further, clients’ banking accounts were 1.4 million, rising 1% from October 2019 and 7% from November 2018. The number of retirement plan participants was relatively on par with the prior-month level but increased 6% year over year to 1.7 million.

Shares of the company have rallied 20.3% so far this year, outperforming18.5% growth recorded by the industry.

Currently, Schwab sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Performance & Release Date of Other Investment Brokers

Tradeweb Markets Inc. TW reported average daily volume of $693.0 billion for November. The figure was up 22% year over year.

E*TRADE Financial ETFC reported a sequential and year-over-year rise in Daily Average Revenue Trades (DARTs) for November. The company’s DARTs came in at 354,434, up 22% from the previous month and 32% year over year. Notably, derivatives accounted for 33% of DARTs.

LPL Financial Holdings LPLA is expected to release the November activity report in the coming days.

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