Schwab Reports Record $35B Monthly Asset Growth, Hits $10.35T Total Assets

WESTLAKE, Texas--(BUSINESS WIRE)-- The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of May 2025 include:

Core net new assets brought to the company by new and existing clients increased 13% versus May 2024 to reach $35.0 billion – a record for the month of May.
Total client assets equaled $10.35 trillion as of month-end May, up 12% from May 2024 and up 5% compared to April 2025.
New brokerage accounts opened during the month totaled 336,000 up 7% versus May 2024.
Investor engagement remained strong, with May trading volumes exceeding 7 million daily average trades for the 5th consecutive month.
Transactional sweep cash declined by $5.2 billion to end May at $398.1 billion. Inclusive of clients’ engagement with markets and April tax seasonality, quarter-to-date transactional sweep cash is down less than 3% from March 2025 levels, helping us further reduce high-cost funding at the banks to approximately $32 billion as of May month-end.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 37.4 million active brokerage accounts, 5.6 million workplace plan participant accounts, 2.1 million banking accounts, and $10.35 trillion in client assets as of May 31, 2025. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.

The Charles Schwab Corporation Monthly Activity Report For May 2025

	2024																2025										Change
	May		Jun		Jul		Aug		Sep		Oct		Nov		Dec		Jan		Feb		Mar		Apr		May		Mo.		Yr.
Market Indices (at month end)
Dow Jones Industrial Average^®	38,686		39,119		40,843		41,563		42,330		41,763		44,911		42,544		44,545		43,841		42,002		40,669		42,270		4	%	9	%
Nasdaq Composite^®	16,735		17,733		17,599		17,714		18,189		18,095		19,218		19,311		19,627		18,847		17,299		17,446		19,114		10	%	14	%
Standard & Poor’s^® 500	5,278		5,460		5,522		5,648		5,762		5,705		6,032		5,882		6,041		5,955		5,612		5,569		5,912		6	%	12	%
Client Assets (in billions of dollars)
Beginning Client Assets	8,847.5		9,206.3		9,407.5		9,572.1		9,737.7		9,920.5		9,852.0		10,305.4		10,101.3		10,333.1		10,280.2		9,929.7		9,892.2
Net New Assets⁽¹⁾	31.0		33.2		29.0		31.5		30.3		22.7		25.5		60.2		30.5		46.6		55.3		1.1		33.6		N/M		8	%
Net Market Gains (Losses)	327.8		168.0		135.6		134.1		152.5		(91.2	)	427.9		(264.3	)	201.3		(99.5	)	(405.8	)	(38.6	)	423.2
Total Client Assets (at month end)	9,206.3		9,407.5		9,572.1		9,737.7		9,920.5		9,852.0		10,305.4		10,101.3		10,333.1		10,280.2		9,929.7		9,892.2		10,349.0		5	%	12	%
Core Net New Assets^(1,2)	31.1		29.1		29.0		32.8		33.5		24.6		28.8		61.4		30.6		48.0		59.1		2.7		35.0		N/M		13	%
Receiving Ongoing Advisory Services (at month end)
Investor Services	624.0		632.9		649.1		663.7		675.1		665.6		688.9		682.0		698.7		703.5		688.8		688.2		711.2		3	%	14	%
Advisor Services	4,027.3		4,090.0		4,185.4		4,268.1		4,343.8		4,303.3		4,489.2		4,379.7		4,496.6		4,493.2		4,372.3		4,353.0		4,525.6		4	%	12	%
Client Accounts (at month end, in thousands)
Active Brokerage Accounts	35,524		35,612		35,743		35,859		35,982		36,073		36,222		36,456		36,709		36,861		37,011		37,254		37,375		-		5	%
Banking Accounts	1,916		1,931		1,937		1,940		1,954		1,967		1,980		1,998		2,019		2,033		2,050		2,066		2,077		1	%	8	%
Workplace Plan Participant Accounts ⁽³⁾	5,345		5,363		5,382		5,373		5,388		5,407		5,393		5,399		5,450		5,464		5,495		5,518		5,563		1	%	4	%
Client Activity
New Brokerage Accounts (in thousands)	314		310		327		324		321		331		357		431		433		362		388		439		336		(23	%)	7	%
Client Cash as a Percentage of Client Assets ⁽⁴⁾	9.9	%	9.7	%	9.6	%	9.5	%	9.5	%	9.8	%	9.5	%	10.1	%	9.8	%	10.0	%	10.6	%	10.5	%	10.1	%	(40) bp		20 bp
Derivative Trades as a Percentage of Total Trades	21.9	%	21.3	%	21.2	%	20.8	%	21.5	%	21.4	%	19.7	%	18.6	%	19.3	%	19.9	%	19.5	%	18.4	%	21.0	%	260 bp		(90) bp
Selected Average Balances (in millions of dollars)
Average Interest-Earning Assets ⁽⁵⁾	415,950		417,150		417,379		420,191		420,203		422,327		425,789		431,177		431,523		424,805		425,228		430,884		419,638		(3	%)	1	%
Average Margin Balances	67,614		69,730		73,206		73,326		72,755		74,105		76,932		81,507		82,551		84,233		82,725		77,478		79,132		2	%	17	%
Average Bank Deposit Account Balances ⁽⁶⁾	86,844		85,195		83,979		82,806		82,336		83,261		84,385		85,384		84,790		83,089		84,302		84,060		81,495		(3	%)	(6	%)
Mutual Funds and Exchange-Traded Funds
Net Buys (Sells) ^(7,8)(in millions of dollars)
Equities	5,734		3,379		10,908		5,609		5,217		7,176		13,226		14,805		10,050		4,987		(1,221	)	7,950		10,473
Hybrid	(558	)	(843	)	(1,155	)	(1,377	)	(432	)	(1,397	)	(329	)	124		(1,324	)	(464	)	(603	)	(1,663	)	(287	)
Bonds	5,854		6,346		8,651		10,919		11,015		10,442		7,473		10,969		8,747		12,162		11,438		(1,490	)	8,483
Net Buy (Sell) Activity (in millions of dollars)
Mutual Funds ⁽⁷⁾	(5,544	)	(4,254	)	(4,679	)	(4,003	)	(1,261	)	(4,905	)	(4,492	)	(4,331	)	(6,785	)	(3,971	)	(8,537	)	(13,955	)	(3,224	)
Exchange-Traded Funds ⁽⁸⁾	16,574		13,136		23,083		19,154		17,061		21,126		24,862		30,229		24,258		20,656		18,151		18,752		21,893
Money Market Funds	9,790		3,858		9,110		8,048		9,672		11,032		9,172		8,956		11,584		12,306		14,586		(6,158	)	5,794

	Note: Certain supplemental details related to the information above can be found at: https://www.aboutschwab.com/financial-reports.
⁽¹⁾	Unless otherwise noted, differences between net new assets and core net new assets are net flows from off-platform Schwab Bank Retail CDs. 2024 also includes outflows from a large international relationship of $0.1 billion in August, $0.3 billion in October, and $0.6 billion in November.
⁽²⁾	Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than $25 billion beginning in 2025; $10 billion in prior periods) relating to a specific client, and activity from off-platform Schwab Bank Retail CDs. These flows may span multiple reporting periods.
⁽³⁾	Includes accounts in Retirement Plan Services, Stock Plan Services, Designated Brokerage Services, and Retirement Business Services; Participants may be enrolled in services in more than one Workplace business.
⁽⁴⁾	Schwab One^®, certain cash equivalents, bank deposits, third-party bank deposit accounts, and money market fund balances as a percentage of total client assets; client cash excludes brokered CDs issued by Charles Schwab Bank.
⁽⁵⁾	Represents average total interest-earning assets on the Company's balance sheet.
⁽⁶⁾	Represents average clients’ uninvested cash sweep account balances held in deposit accounts at third-party financial institutions.
⁽⁷⁾	Represents the principal value of client mutual fund transactions handled by Schwab, including transactions in proprietary funds. Includes institutional funds available only to Investment Managers. Excludes money market fund transactions.
⁽⁸⁾	Represents the principal value of client ETF transactions handled by Schwab, including transactions in proprietary ETFs.
	N/M - Not meaningful. Percentage changes greater than 200% are presented as not meaningful.