Charles Schwab reports February total client assets down 4% from last year

The Charles Schwab Corporation released its February Monthly Activity Report, stating: "Core net new assets brought to the company by new and existing clients totaled $41.7 billion. Net new assets excluding mutual fund clearing totaled $40.5 billion. Total client assets were $7.38 trillion as of month-end February, down 4% from February 2022 and down 1% compared to January 2023. Average margin balances were $60.6 billion in February, down 28% from February 2022 and up 1% compared to January 2023."