Charles Schwab (NYSE: SCHW) reported its monthly activity report for July 2024. The company's core net new assets of $29 billion surged substantially from $13.7 billion recorded in the prior-year month but was unchanged from the previous month.
SCHW's total client assets in July 2024 were $9.57 trillion, up 2% from the June 2024 level and 16% from July 2023. Client assets receiving ongoing advisory services were $4.83 trillion, rising 2% from the prior month and 16% year over year.
Schwab's average interest-earning assets of $417.4 billion in July increased marginally from June 2024 but declined 11% year over year. Average margin balances were $73.2 billion, up ...
