Core net new assets brought to the company by new and existing clients totaled $24.1 billion. Net new assets excluding mutual fund clearing totaled $22.6 billion.
Total client assets were a record $3.85 trillion as of month-end October, up 14% from October 2018 and up 2% compared to September 2019.
New brokerage accounts were 142,000 in October, up 7% from October 2018 and up 31% compared to September 2019.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 365 offices and 12.2 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.4 million banking accounts, and $3.85 trillion in client assets as of October 31, 2019. 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 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 banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products.