The Charles Schwab Corporation (SCHW - Free Report) has released the monthly activity report for October 2019. Total client assets were $3.85 trillion, up 2% from the prior month and 14% from the year-ago month.
Client assets receiving ongoing advisory services were $2.02 trillion, up 2% from the prior month and 14% year over year. Net new assets of $35.2 billion improved significantly from the previous month as well as year over year.
Schwab’s average interest earning assets were $266.1 billion at the end of October, down marginally from the September 2019 level but up 1% from October 2018. The company opened 142,000 new brokerage accounts in the reported month, up 31% sequentially and 7% year over year.
Schwab’s active brokerage accounts totaled 12.2 million at the end of October, up 1% sequentially and 6% from the year-ago month. Further, client’s banking accounts were 1.4 million, rising 1% from September 2019 and 7% from October 2018. The number of retirement plan participants was up 1% from the prior-month level and 6% year over year at 1.7 million.
Shares of the company have gained 4.4% so far this year compared with 10.4% growth recorded by the industry.
Currently, Schwab 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
Interactive Brokers Group, Inc’s (IBKR - Free Report) Electronic Brokerage segment reported a fall in DARTs for October 2019. Total client DARTs were 797,000, down 5% from September 2019 and 19% from October 2018.
E*TRADE Financial reported sequential rise in DARTs for October. Per its monthly market activity, its DARTs were 290,578, up 9% from the previous month but down 1% year over year. Notably, derivatives comprised 36% of DARTs.
LPL Financial Holdings Inc’s (LPLA - Free Report) total brokerage and advisory assets of $731.7 billion at the end of October 2019 grew 1.7% from the prior month and 12.7% year over year. Of the total, brokerage assets were $386.5 billion, while advisory assets were $3415.3 billion.
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The Charles Schwab Corporation (SCHW - Free Report) has released the monthly activity report for October 2019. Total client assets were $3.85 trillion, up 2% from the prior month and 14% from the year-ago month.
Client assets receiving ongoing advisory services were $2.02 trillion, up 2% from the prior month and 14% year over year. Net new assets of $35.2 billion improved significantly from the previous month as well as year over year.
Schwab’s average interest earning assets were $266.1 billion at the end of October, down marginally from the September 2019 level but up 1% from October 2018. The company opened 142,000 new brokerage accounts in the reported month, up 31% sequentially and 7% year over year.
Schwab’s active brokerage accounts totaled 12.2 million at the end of October, up 1% sequentially and 6% from the year-ago month. Further, client’s banking accounts were 1.4 million, rising 1% from September 2019 and 7% from October 2018. The number of retirement plan participants was up 1% from the prior-month level and 6% year over year at 1.7 million.
Shares of the company have gained 4.4% so far this year compared with 10.4% growth recorded by the industry.
Currently, Schwab 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
Interactive Brokers Group, Inc’s (IBKR - Free Report) Electronic Brokerage segment reported a fall in DARTs for October 2019. Total client DARTs were 797,000, down 5% from September 2019 and 19% from October 2018.
E*TRADE Financial reported sequential rise in DARTs for October. Per its monthly market activity, its DARTs were 290,578, up 9% from the previous month but down 1% year over year. Notably, derivatives comprised 36% of DARTs.
LPL Financial Holdings Inc’s (LPLA - Free Report) total brokerage and advisory assets of $731.7 billion at the end of October 2019 grew 1.7% from the prior month and 12.7% year over year. Of the total, brokerage assets were $386.5 billion, while advisory assets were $3415.3 billion.
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Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
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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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