Charles Schwab released its monthly activity report. Core net new assets brought to the company excluding Ameritrade brokerage originated clients equaled $28.1B for the month, bringing year-to-date Schwab originated core asset gathering up to $219.9B. Total core net new assets across all clients totaled $4.9B in August and $202.5B on a year-to-date basis. Total client assets were $8.09T as of month-end August, up 14% from August 2022 and down 2% compared to July. Average interest-earning assets were $449.5B in August, down 23% from August 2022 and down 4% compared to July.
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