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Schwab's (SCHW) November Metrics Up on Higher Client Assets

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Charles Schwab’s (SCHW - Free Report) monthly activity for November 2018 reflects year over year and sequential rise. Total client assets came in at $3.4 trillion at the end of the month, increasing 3% from the year-ago month and 1% from the prior month.

Further, client assets receiving ongoing advisory services were $1.8 trillion, up 7% year over year and 2% sequentially. Schwab’s average interest earning assets came in at $265.6 billion at the end of November, improving 19% year over year and 1% from October 2018.

Net new assets, through existing and new clients, totaled $15.6 billion, down 1% from November 2017 but up 5% from October 2018. However, new brokerage accounts opened by the company this November were down 6% year over year and 14% from last month to 115,000.

Schwab’s active brokerage accounts totaled 11.5 million at the end of the month, up 8% from the November 2017 and relatively stable sequentially. Further, client’s banking accounts were 1.3 million, rising 9% from the year-ago quarter and 1% from October. The number of retirement plan participants rose 5% year over year and was stable sequentially at 1.6 million.

Shares of Schwab have lost 19.8% so far this year compared with 24.3% decline 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 reported a rise in Daily Average Revenue Trades (DARTs) in November on a year-over-year basis. According to its monthly market activity, the company’s DARTs came in at 275,319, up 11% year over year but down 9% from the prior month. Notably, derivatives comprised 32% of DARTs in August.

Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment performed decently in November. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a year-over-year rise in DARTs for November. Total client DARTs came in at 907,000, increasing 14% from November 2017 but decreasing 8% from October 2018.

LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for November soon.

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