The Charles Schwab Corporation reports developments across its financial services platform, including securities brokerage, wealth management, banking, asset management, custody, and advisory services for individual investors and independent investment advisors. Company updates commonly address digital investing tools, client education initiatives, brokerage account offerings, market and trading activity research, and services delivered through Charles Schwab & Co., Charles Schwab Bank, and Schwab Advisor Services.
Schwab news also covers capital actions such as common and preferred stock dividends, preferred share redemptions, and other balance-sheet activity. Recurring corporate themes include technology and data capabilities, retail client engagement, financial literacy programs, community initiatives, and updates tied to the company’s publicly traded common stock and preferred depositary shares.
Schwab has launched the Schwab Starter Kit, offering beginner investors $50 to invest in the top five S&P 500 stocks. This initiative aims to facilitate entry into the stock market by providing bite-size educational content and user-friendly investing tools. Over the past 18 months, the company has opened 6.0 million new brokerage accounts, highlighting a trend of new investors entering the market. The Starter Kit includes ownership in fractional shares, tailored educational resources, and valuable investment tools, aiming to support new investors on their financial journey.
The Charles Schwab Corporation released its Monthly Activity Report for November 2021, revealing key metrics.
Core net new assets increased to $45.1 billion, with $44.5 billion excluding mutual fund clearing. Total client assets reached $7.92 trillion, marking a 23% year-over-year growth but a 1% decrease from October 2021. Additionally, the company saw 448,000 new brokerage accounts opened, a 4% increase from November 2020 and a significant 13% rise from October 2021.
The Charles Schwab Corporation's Board of Directors has declared a dividend of $35.00 per share on its 7.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend is payable on February 1, 2022 to stockholders of record as of the close of business on January 14, 2022. The company maintains substantial financial health, boasting approximately $7.98 trillion in client assets and managing over 32.8 million active brokerage accounts.
Schwab Asset Management has expanded its fixed income separately managed account strategies for clients, introducing five new Wasmer Schroeder Strategies, including two positive impact options: Positive Impact Bond (PIBX) and Positive Impact Tax Exempt (PIFI) strategies. These strategies focus on bonds financing projects with positive social and environmental impacts, as opposed to relying solely on third-party ESG ratings. Other additions include higher-yielding strategies: Intermediate Strategic Tax Exempt (ISTEFI), Intermediate IG Credit (ITTX+), and Multi-Sector Income (MITX). This expansion enhances Schwab's commitment to providing diverse fixed income choices.
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Charles Schwab's latest SDBA Indicators Report reveals a 12.8% year-over-year increase in average account balances across self-directed brokerage accounts, reaching $341,068 despite a 2.0% decrease from the previous quarter. The report indicates a steady trading volume with an average of 13.1 trades per account. Equities made up 36% of participant assets, with Apple leading individual holdings at 10.6%. Advised accounts boast higher balances of $542,365 compared to non-advised accounts.
The Charles Schwab Corporation reported strong metrics in its Monthly Activity Report for October 2021. The company attracted $36.8 billion in core net new assets from clients, with net new assets totaling $35.9 billion when excluding mutual fund clearing. Total client assets reached $7.98 trillion, marking a 36% increase year-over-year and a 5% rise from September 2021. Average margin balances were noted at $83.8 billion, up 74% compared to October 2020 and 3% higher than the previous month.
Schwab Advisor Services recently hosted a two-day virtual Technology Forum for over 150 independent advisor technology professionals, focusing on the integration of Schwab and TD Ameritrade's custody platforms ahead of a planned conversion in 2023. Key updates included advancements in third-party technology integrations, with Schwab currently partnering with over 180 technology products. The forum highlighted the importance of these integrations for financial planning and compliance as API usage by advisors grew over 30% since 2020. Schwab emphasizes its commitment to supporting technology partners during the transition.
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The Charles Schwab Corporation's Board of Directors has declared a quarterly cash dividend of $0.18 per common share, payable on November 26, 2021.
Stockholders of record as of November 12, 2021 will receive this dividend. Additionally, dividends were declared for several series of preferred stock, with payment scheduled for December 1, 2021. The company manages approximately $7.61 trillion in client assets and maintains a strong financial position with 32.7 million active brokerage accounts.