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Schwab Reports Monthly Activity Highlights; Core Net New Assets Brought To The Company By New And Existing Clients Totaled $29B; New Brokerage Accounts Totaled 327K In July

Author: Benzinga Newsdesk | August 14, 2024 08:46am

The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of July 2024 include:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240814857559/en/

  • Core net new assets brought to the company by new and existing clients totaled $29.0 billion – more than double July 2023 asset gathering levels.
  • Total client assets were $9.57 trillion as of month-end July, up 16% from July 2023 and up 2% compared to June 2024.
  • New brokerage accounts totaled 327 thousand in July, an increase of 8% and 5% versus July 2023 and June 2024, respectively.
  • Transactional sweep cash finished July 2024 at $371.8 billion, down approximately 1% versus June 2024. While client engagement in the markets remained strong through July, the combined month-over-month decline in bank sweep deposits and broker-dealer cash balances was less than $1 billion.

Posted In: SCHW


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