Charles Schwab's financial services demonstrate significant success in increasing client assets and stock value.
Growth in Client Assets
As of the end of October 2024, Charles Schwab reported an influx of core net new assets totaling $24.6 billion, with net new assets excluding mutual fund clearing at $21.0 billion. Total client assets reached an impressive $9.85 trillion, marking a 29% increase from October 2023.
Increase in Transactional Sweep Cash
The company also reported a significant increase in transactional sweep cash, which rose by $10.0 billion from the previous month. This rise could suggest cautious client behavior on the market or preparation for future investment opportunities.
Charles Schwab Stock Performance
Charles Schwab (SCHW) shares experienced significant growth, hitting a new 52-week high. On November 14, 2024, shares opened at $82.09, reached $82.5, and settled at $81.08. The company's market cap is $148.42 billion.
Charles Schwab continues to demonstrate its leadership in financial services, with significant asset growth and a strong increase in stock value.
