Charles Schwab reports 15% Y/Y rise in July-end client assets

[Charles Schwab Consumer Location. The Charles Schwab Corporation Provides Brokerage, Banking and Financial Services I]
jetcityimage/iStock Editorial via Getty Images

Financial services provider Charles Schwab (NYSE:SCHW [https://seekingalpha.com/symbol/SCHW]) announced [https://seekingalpha.com/pr/20201131-schwab-reports-monthly-activity-highlights] on Thursday a 15% year-over-year and 2% month-over-month increase in July-end client assets to $10.96T.

Shares were +1.39% pre-market to $96.92.

Core net new assets brought to the company stood at $46.9B, up 62% from the year-ago month.

New brokerage accounts opened in July rose 15% from last year to 377,000.

Average client margin loan balances expanded 4% month-over-month and trading volumes exceeded 7 million daily average trades.

Transactional sweep cash declined by $4.6 billion to end July at $407.5 billion.

MORE ON CHARLES SCHWAB

* Schwab Expense Discipline Drove The Beat For The Quarter - Fair Value Now $135 Per Share [https://seekingalpha.com/article/4802847-schwab-expense-discipline-drove-beat-for-quarter-fair-value-now-135-per-share]
* Wall Street Lunch: Charles Schwab Expands Overnight Trading [https://seekingalpha.com/article/4802719-wall-street-lunch-charles-schwab-expands-overnight-trading-increases-security-options]
* Charles Schwab: A Buy At All-Time Highs [https://seekingalpha.com/article/4802597-charles-schwab-a-buy-at-all-time-highs]
* Schwab Trading Activity Index edges up in July, but investors are still wary [https://seekingalpha.com/news/4477635-schwab-trading-activity-index-edges-up-in-july-but-investors-are-still-wary]
* Charles Schwab expands securities list for overnight trading [https://seekingalpha.com/news/4469224-charles-schwab-expands-securities-list-for-overnight-trading]