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Schwab (SCHW) Reports Improvement in November Client Assets
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Charles Schwab (SCHW - Free Report) 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.
Performance & Release Date of Other Investment Brokers
Tradeweb Markets Inc. (TW - Free Report) reported average daily volume of $693.0 billion for November. The figure was up 22% year over year.
E*TRADE Financial 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 - Free Report) is expected to release the November activity report in the coming days.
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Schwab (SCHW) Reports Improvement in November Client Assets
Charles Schwab (SCHW - Free Report) 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 - Free Report) reported average daily volume of $693.0 billion for November. The figure was up 22% year over year.
E*TRADE Financial 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 - Free Report) is expected to release the November activity report in the coming days.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.
This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.
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