Charles Schwab (SCHW - Free Report) has released the monthly activity report for November 2019. Total client assets were $3.94 trillion, up 2% from October and 15% from the year-ago month.
Client assets receiving ongoing advisory services were $2.06 trillion, up 2% from the prior month and 15% year over year. Net new assets of $12 billion, however,declined 66% from the previous month and 23% year over year.
Schwab’s average interest earning assets were $268.3 billion at the end of November, up 1% from both October 2019 andNovember 2018. The company opened 127,000 new brokerage accounts in the reported month, down 11% sequentially but up10% year over year.
Schwab’s active brokerage accounts totaled 12.2 million at the end of November, on par with the October 2019 level. The figure was up 6% from the year-ago month.
Further, clients’ banking accounts were 1.4 million, rising 1% from October 2019 and 7% from November 2018. The number of retirement plan participants was relatively on par with the prior-month level but increased 6% year over year to 1.7 million.
Shares of the company have rallied 20.3% so far this year, outperforming18.5% growth recorded by the industry.
Currently, Schwab sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Performance & Release Date of Other Investment Brokers
Tradeweb Markets Inc. (TW - Free Report) reported average daily volume of $693.0 billion for November. The figure was up 22% year over year.
E*TRADE Financial (ETFC - Free Report) reported a sequential and year-over-year rise in Daily Average Revenue Trades (DARTs) for November. The company’s DARTs came in at 354,434, up 22% from the previous month and 32% year over year. Notably, derivatives accounted for 33% of DARTs.
LPL Financial Holdings (LPLA - Free Report) is expected to release the November activity report in the coming days.
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