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Schwab's (SCHW) November Metrics Indicate Y/Y Improvement

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The Charles Schwab Corporation (SCHW - Free Report) released the monthly activity report for November 2017, which shows an improvement from the year-ago period. Total client assets were $3.3 trillion at the end of the month, jumping 21% year over year.

Further, client assets receiving ongoing advisory services were $1.7 trillion, increasing 22% year over year. Also, Schwab’s average interest earning assets were $223.3 billion at November end, reflecting 8% rise from the prior-year month.

Notably, the company opened 122,000 new brokerage accounts in November, a surge of 31% from the prior-year month. Net new assets, through both existing and new clients totaled $15.7 billion, jumping 32% from $11.9 billion in November 2016.

In fact, Schwab’s active brokerage accounts totaled 10.7 million at the end of the month, up 6% from the November 2016 level. Client’s banking accounts at the end of the reported month were 1.19 million, rising 8% from the year-ago period. Also, the number of retirement plan participants inched up 1% year over year to 1.56 million.

Consequently, shares of the company have rallied 27.2% so far this year, outperforming 16% gain for the industry.



Schwab, currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Investment Brokers

E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for November 2017 on a year-over-year basis. According to its monthly market activity report, the company’s DARTs were 248, 669, rising 19% year over year. Notably, derivatives comprised 31% of DARTs for August.

Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for November 2017. Total client DARTs came in at 795,000, up 9% from November 2016. Also, total customer accounts increased 25% year over year to 474,000.

Other brokerage firm, TD Ameritrade Holding Corporation (AMTD - Free Report) is likely to announce its monthly metrics information within a few days.

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