Close Close

Portfolio > Asset Managers

Schwab, TD Ameritrade Post Strong Asset Growth, Beat Indexes

Your article was successfully shared with the contacts you provided.

Charles Schwab (SCHW) and T.D. Ameritrade (AMTD) reported this week that their total assets as of May 31 grew 9% and 12%, respectively, from a year ago.

Schwab said Friday that its client assets totaled $2.57 trillion at the end of May, representing a 9% year-over-year jump and a 1% increase from April. Net new assets were $10.1 billion in May, up 11% from $9.1 billion in April but down 7% from $10.9 billion a year ago.

Assets at Schwab owned by clients who receive ongoing advisory services were $1.27 trillion, up 10% from May 2014 and 1% compared with April 2015.

This 10% year-over-year growth pace was ahead of two major stock indexes. From June 1, 2014, to May 30, 2015, the Dow Jones rose about nearly 8%, while the S&P 500 ticked up at about 9.5%; during this period, the Nasdaq jumped 19%.

For its part, TD Ameritrade says its total assets increased 12% year over year and 1% month over month to $710.8 billion as of May 31.

The average fee-based balance at TD in May was $161.8 billion, up 17% from May 2014 and up 1% from April 2015. Clients made an average of 427,000 trades per day in May 2015, up 11% from a year earlier but down 7% from the prior month.

Last month, Schwab topped the J.D. Power rankings of self-directed investors.

“In announcing their latest rankings, J.D. Power emphasized that being a self-directed investor doesn’t mean going it alone, and that self-directed investors really do want a relationship with their firm that includes access to do-it-yourself tools and resources as well as help and guidance and superior service when you need it. That couldn’t be truer at Schwab,” said President and CEO Walt Bettinger, in a statement.

— Check out Best Firms for Self-Directed Investors: J.D. Power—2015 on ThinkAdvisor.


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.