As the S&P 500 fell 4.6% in the first quarter of 2025 and volatility rose, Charles Schwab’s daily average trades were up 24% from a year ago at 7.39 million.
“Investors turned to Schwab to navigate an increasingly uncertain environment in 1Q25, entrusting us with $138 billion in core net new assets,” said President & CEO Rick Wurster.
The daily average trades were close to 6.94 million in the week of Jan. 14-17 but rose to 10.74 million in the week of April 7-11.
Its total client assets were $9.93 trillion as of March 31. That’s up 9% from a year ago, according to its latest earnings report, though it’s down 2% from the $10.1 trillion the firm reported for the prior quarter.
Schwab-affiliated advisors had net new assets in the first quarter of $69.5 billion, up 24% year over year and 1% from the final quarter of 2024.
The firm’s retail investor business had a $62.9 billion increase in net new assets in Q1, which was an 85% increase from a year ago and a 50% jump from the fourth quarter. (Other Schwab assets are part of its Workplace Financial Services business.)
Total assets in Advisor Services accounts stood at $4.47 trillion as of March 31 vs. $5.56 trillion in Investor Services accounts. Both groups had a 9% year over year jump in client assets.
Of course, the level of these assets may drop by June 30, due to recent market declines and volatility tied to new tariff policies. The S&P 500 was down close to 9.6% year to date Thursday as of 1:30 p.m. in New York.
Schwab's first-quarter revenue rose 18% from a year ago to $5.6 billion, while its adjusted net earnings improved 37% to hit $2 billion, or roughly $1.04 per share.
Schwab’s shares were trading up 2.6% at $77.70 as of 1.30 p.m. in New York. They are up close to 5% year to date.
On Wednesday, the firm said it made a minority investment in the estate planning platform Wealth.com to “continue to scale” its capabilities for financial firms and advisors to provide estate planning services to individuals and families.
The two businesses are also developing opportunities to offer access to Wealth.com’s estate planning tools directly to Schwab’s investor clients, according to the announcement.
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