Charles Schwab (SCHW) released its monthly activity report. Core net new assets brought to the company increased 62% versus July 2024 to reach $46.9B. Total client assets equaled $10.96T as of month-end July, up 15% from July 2024 and up 2% compared to June. New brokerage accounts opened during the month totaled 377,000 up 15% versus July 2024. Average client margin loan balances expanding 4% month-over-month and trading volumes exceeding 7M daily average trades for the seventh consecutive month. Transactional sweep cash declined by $4.6B to end July at $407.5B.
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