Schwab (SCHW) May Net New Assets Up, Q2 Revenue View Affirmed

Charles Schwab (SCHW) has reported its monthly activity report for May 2024. The company’s core net new assets of $31 billion surged substantially from $1 billion recorded in the previous month and 50% from the prior-year month.Schwab’s total client assets in May 2024 were $9.21 trillion, up 4% from the April 2024 level and 20% from May 2023. Client assets receiving ongoing advisory services were $5.25 trillion, rising 17% from the prior month and 35% year over year.  Schwab’s average interest-earning asset ...