Charles Schwab’s (SCHW - Free Report) monthly activity for August 2018 reflects year over year and sequential rise. Total client assets came in at $3.6 trillion at the end of the month, increasing 14% from the year-ago month and 2% from the prior month.
Further, client assets receiving ongoing advisory services were $1.847.3 trillion, up 17% year over year and 2% sequentially. Also, Schwab’s average interest earning assets came in at $259.1 billion at the end of August, improving 21% from the prior-year period.
Notably, the company opened 132,000 new brokerage accounts this August, up7% year over year and 12% from last month. Net new assets, through existing and new clients, totaled $20.8 billion, jumping16% from August 2017 and 28% from July 2018.
Schwab’s active brokerage accounts totaled 11.3 million at the end of the month, up 7% from the August 2017 level and 1% from July 2018. Client’s banking accounts at the end of the reported month were 1.3 million, rising 9% from the year-ago tally and 1% sequentially. Additionally, the number of retirement plan participants rose 5% year over year and 1% from the prior month to 1.6 million.
Driven by steady improvement in client assets and other metrics, the stock has rallied 22.6% in the past year, significantly outperforming 9.2% growth of 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 August on a year-over-year basis. According to its monthly market activity, the company’s DARTs came in at 267,619, up 20% year over year and 7% from the prior month. Notably, derivatives comprised 32% of DARTs in August.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported year-over-year increase in DARTs for August. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs were 741,000, up 6% from August 2017, but down 1% from July 2018.
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for August in a few days.
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Charles Schwab’s (SCHW - Free Report) monthly activity for August 2018 reflects year over year and sequential rise. Total client assets came in at $3.6 trillion at the end of the month, increasing 14% from the year-ago month and 2% from the prior month.
Further, client assets receiving ongoing advisory services were $1.847.3 trillion, up 17% year over year and 2% sequentially. Also, Schwab’s average interest earning assets came in at $259.1 billion at the end of August, improving 21% from the prior-year period.
Notably, the company opened 132,000 new brokerage accounts this August, up7% year over year and 12% from last month. Net new assets, through existing and new clients, totaled $20.8 billion, jumping16% from August 2017 and 28% from July 2018.
Schwab’s active brokerage accounts totaled 11.3 million at the end of the month, up 7% from the August 2017 level and 1% from July 2018. Client’s banking accounts at the end of the reported month were 1.3 million, rising 9% from the year-ago tally and 1% sequentially. Additionally, the number of retirement plan participants rose 5% year over year and 1% from the prior month to 1.6 million.
Driven by steady improvement in client assets and other metrics, the stock has rallied 22.6% in the past year, significantly outperforming 9.2% growth of 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 August on a year-over-year basis. According to its monthly market activity, the company’s DARTs came in at 267,619, up 20% year over year and 7% from the prior month. Notably, derivatives comprised 32% of DARTs in August.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported year-over-year increase in DARTs for August. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs were 741,000, up 6% from August 2017, but down 1% from July 2018.
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for August in a few days.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025.
Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Click to see them right now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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