Schwab Reports Monthly Activity Highlights

The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of May 2023 include:

  • Core net new assets brought to the company by new and existing clients totaled $20.7 billion. Net new assets excluding mutual fund clearing totaled $24.5 billion.
  • Total client assets were $7.65 trillion as of month-end May, up 5% from May 2022 and flat compared to April 2023.
  • Client cash as a percentage of assets was 11.5% as of month-end May, compared with 12.0% in May 2022 and 11.3% in April 2023.

Commentary from the CFO

Peter Crawford, Managing Director and Chief Financial Officer, provides additional perspective on client cash realignment trends and second quarter revenue expectations:

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 34.3 million active brokerage accounts, 2.4 million corporate retirement plan participants, 1.8 million banking accounts, and $7.65 trillion in client assets as of May 31, 2023. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiaries, Charles Schwab & Co., Inc., TD Ameritrade, Inc., and TD Ameritrade Clearing, Inc., (members SIPC,, and their affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at

TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.

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