Charles Schwab reports total client assets $7.65T at May-end, up 5% YoY

The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of May 2023 include: Core net new assets brought to the company by new and existing clients totaled $20.7B. Net new assets excluding mutual fund clearing totaled $24.5B; Total client assets were $7.65T as of month-end May, up 5% from May 2022 and flat compared to April 2023. Client cash as a percentage of assets was 11.5% as of month-end May, compared with 12.0% in May 2022 and 11.3% in April.