Charles Schwab November Core Net New Assets Total $28.8 Bln; Boosts FY24 Revenue Growth Outlook

(RTTNews) - While releasing its Monthly Activity Report for the month of November on Friday, financial services company Charles Schwab Corp. (SCHW) said total client assets were $10.31 trillion as of month-end November, up 26% from November 2023 and up 5% compared to October 2024.

For the month of November 2024, core net new assets brought to the company by new and existing clients totaled $28.8 billion. Net new assets excluding mutual fund clearing totaled $24.1 billion.

November daily average trades increased 20% month-over-month to 6.6 million, driven primarily by equity volumes.

Looking ahead to the full-year 2024, the company now projects net revenue growth of 3.0 to 3.5 percent, up from the prior growth forecast of 2.0 to 3.0 percent.

On average, 16 analysts polled by Thomson Reuters expect the company to report revenue growth of 2.94 percent to $19.39 billion for the year.