Charles Schwab total January client assets up 14% from year ago, flat from December
Charles Schwab Corp. (SCHW) said Wednesday total client assets in January rose 14% from the year-ago period, and remained flat with the previous month. Total core net new assets brought to the company in January by new and existing clients were $17.2 billion, or $21.4 billion in core net new assets excluding Ameritrade originated brokerage clients. Transactional sweep cash as of Jan. 31 fell $11.3 billion to $406.1 billion compared to the previous month. "This decline was in-line with typical January seasonality as clients reengaged with the markets following a nearly $15 billion build-up in cash during December," the company said. Charles Schwab's stock was up by 0.8% in premarket trading on Wednesday.
-Steve Gelsi
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