Charles Schwab Sees Private Client Revival

Stephen Harris

17 May 2005

Charles Schwab, the US-based brokerage business, reported that client daily average trades rose 13 per cent in April to 203,800 from a year earlier. Client daily average trades include daily average revenue trades, Schwab Institutional asset-based trades and Schwab Private Client asset-based trades. The San Francisco-based brokerage firm said in a statement that client daily average revenue trades were 182,700 in April, up 11 per cent from a year ago and down 7 per cent from March. Total client assets at the end of the month rose 9 per cent to $1.062 trillion from a year ago, but were down 1 per cent from March. Net new assets brought to the company by new and current clients in April totaled $1.1 billion.