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Schwab reports $8.6B in new client assets in October

Also had a decline in trading volume

By Staff Report
November 13, 2009, 4:14 PM EST
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The Charles Schwab Corp. brought in $8.6 billion in net new assets last month, a 48% increase over September, according to a monthly market report the company released today.

The new assets for October register as Schwab’s second-highest monthly total for 2009 — it brought in $12.1 billion in January — according to the report.

Despite the strong month, however, the net new assets were offset by larger market losses: the company reported a $22 billion drop in assets due to appreciation.

That brought Schwab’s total client assets to $1.35 trillion at the end of October, a 1% decline from September, but a 16% increase from October 2008.

The brokerage company also reported 335,300 average daily client trades for October — a 33% drop from one year ago, and a 1% increase from September.



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