Schwab (SCHW) Reports Monthly Activity Highlights

The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of May 2023 include:

• Core net new assets brought to the company by new and existing clients totaled $20.7 billion. Net new assets excluding mutual fund clearing totaled $24.5 billion.
• Total client assets were $7.65 trillion as of month-end May, up 5% from May 2022 and flat compared to April 2023.
• Client cash as a percentage of assets was 11.5% as of month-end May, compared with 12.0% in May 2022 and 11.3% in April 2023.

Commentary from the CFO

Peter Crawford, Managing Director and Chief Financial Officer, provides additional perspective on client cash realignment trends and second quarter revenue expectations: https://www.aboutschwab.com/cfo-commentary.

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