Total client assets for Charles Schwab (NASDAQ:SCHW) ticked 14% higher in February to $1.64 trillion.
The San Francisco-based online brokerage booked client daily average trades of 478,000, up 21% from the year-earlier period, though down 7% from January. Activity in the month prior was lifted by a seasonable rise in Schwab Mutual Fund OneSource transactions.
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Total client assets climbed 3% from January, assisted by net new assets brought to the company by new and existing clients of $7.8 billion, up 22% from $6.4 billion in the month-earlier.