Charles Schwab Activity Ramps Up in April
Charles Schwab (NASDAQ:SCHW) reported on Monday a year-over-year increase in average trades and total client assets for April, but saw a 90% drop in net new assets sequentially.
The online broker said total client assets climbed 9% to $1.83 trillion last month compared with April 2011, but were flat from the month prior.
Daily average trades by clients were 458,900, an increase of 5% from the year-earlier period but down 1% from March 2012.
Net new assets brought to the San Francisco-based company by new and existing clients was $1 billion, a 90% drop from $10.5 billion in March, but up from a decline last April.