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$SCHW 1Q15 10-Q: At March 31, 2015, total assets were $160.2Bil and total liabilities were $148.0Bil. Core net new assets totaled $34.2Bil in 1Q15, which were flat compared to net new client assets in 1Q14. Total client assets ended the first quarter of 2015 at $2.52 trillion, up 9% from 1Q14.
With net income jumping 29% to $618MM or $0.42 per share in 3Q18, $SCHW posted a net revenue of $2.17Bil, 16% higher than a year ago. "Clients opened more than 100,000 new brokerage accounts each month during the third quarter, marking a record-breaking ten straight months in excess of 100,000," said CEO Walt Bettinger.
$SCHW said clients opened more than 350,000 new brokerage accounts during 2Q17. New retail brokerage accounts totaled about 232,000, up 35% year-over-year. Total accounts were 7.3MM, up 4% year-over-year. Total client assets grew 16% to $3.041 trillion,
$SCHW reported a 27% jump in 2Q17 earnings driven by strong client engagement and demand for contemporary approach to wealth management. Net income rose to $575MM or $0.39 per share from $452MM or $0.30 per share last year. Revenue grew to $2.13Bil from $1.83Bil.
Wealth management services provider $SCHW has said ETF OneSource, the company’s program offering commission-free exchange traded funds (ETFs), has added 15 ETFs to its roster. The program now allows investors and advisors to buy and sell 245 ETFs with nil online commissions, no enrollment requirements and no early redemption fees.
$SCHW declared a semi-annual dividend on the outstanding Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A in the amount of $35 per share. The dividend is payable August 1, 2017, to stockholders as on July 17, 2017.
At the end of March, $1.48 trillion in assets were enrolled in some form of ongoing advisory service, an increase of $200Bil from a year ago. $SCHW ended March serving 10.3MM active brokerage accounts, 1.1MM banking accounts, and 1.5MM retirement plan participants, up 5%, 7% and 1%, respectively.
$SCHW reported a rise in 1Q17 earnings driven by larger client cash sweep balances and the subsequent increase in interest-earning assets, as well as higher interest rates across the yield curve. Net income rose to $564MM or $0.39 per share from $412MM or $0.29 per share last year. Revenue grew to $2.08Bil from $1.76Bil.
$SCHW said net new assets brought to the company by new and existing clients in February 2017 were $6.6Bil, including a $9Bil outflow related to a mutual fund clearing services client. Total client assets were $2.90 trillion as of Feb.-end, up 19% from Feb. 2016 and up 2% vs. Jan. 2017. New brokerage accounts were 113,000, up 35% from Feb. 2016.
$SCHW declared a semi-annual dividend on the outstanding Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A in the amount of $35 per share. The dividend is payable on Feb. 1, 2017, to stockholders of record at the close of business on Jan. 17, 2017.
$SCHW opened 264,000 new brokerage accounts in 3Q16, which was up 4% from prior year quarter and 3% down from prior quarter. The company's active brokerage accounts were 10.05MM, up 4% from 3Q15. Trading revenue decreased 17% to $190MM, reflecting reduced market volatility and trading volumes from the year-ago quarter.