Charles Schwab shares gained about 6% Friday after the financial services giant reported a 44% year-over-year increase in core net new assets from new and existing clients for February to $48 billion. Net new assets also topped those of January 2025 by 57%.
Total client assets equaled $10.28 trillion as of Feb. 28, up 16% from a year earlier and down 1% compared to January 2025, Schwab reported. Assets in advisory services accounts stood at nearly $4.5 trillion.
In addition, Schwab said new brokerage accounts opened in February totaled 362,000, making it the 15th straight month that at least 300,000 new accounts were opened by investors.
Schwab shares traded at $77.79, a 5.8% increase as of 1:20 p.m in New York, after hitting $78.22 earlier in the day. They are up about 5.4% year to date and 17% for the past 12 months.
Daily average trades at Schwab rose 1% month-over-month to 7.45 million in February, driven by a continued interest in equity securities, according to the company.
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