Company Website:
http://www.aboutschwab.com
WESTLAKE, Texas -- (Business Wire)
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of November 2025 include:
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251212030405/en/
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Core net new assets brought to the company increased 40% versus November 2024 to reach $40.4 billion, bringing the year-to-date total to $440.3 billion.
-
Total client assets equaled $11.83 trillion as of month-end November, up 15% from November 2024 and flat compared to October 2025.
-
New brokerage accounts opened during the month totaled 365,000, helping the year-to-date total reach more than 4.2 million.
-
Investor engagement remained strong in November, with daily average trades of 8.46 million and average margin loan balances rising 8% to finish the month at $108.9 billion.
-
Transactional sweep cash decreased by $1.3 billion to end November at $427.5 billion, reflecting net asset gathering and client engagement with the markets.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 38.3 million active brokerage accounts, 5.7 million workplace plan participant accounts, 2.2 million banking accounts, and $11.83 trillion in client assets as of November 30, 2025. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services™. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.
| The Charles Schwab Corporation Monthly Activity Report For November 2025 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2024 | | | | 2025 | | | | | | | | | | | | | | | | | | | | | | Change |
| | | Nov | | Dec | | Jan | | Feb | | Mar | | Apr | | May | | Jun | | Jul | | Aug | | Sep | | Oct | | Nov | | Mo. | Yr. |
| Market Indices (at month end) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dow Jones Industrial Average® |
44,911
|
| |
42,544
|
| |
44,545
|
| |
43,841
|
| |
42,002
|
| |
40,669
|
| |
42,270
|
| |
44,095
|
| |
44,131
|
| |
45,545
|
| |
46,398
|
| |
47,563
|
| |
47,716
|
| |
-
|
|
6
|
%
|
| Nasdaq Composite® |
19,218
|
| |
19,311
|
| |
19,627
|
| |
18,847
|
| |
17,299
|
| |
17,446
|
| |
19,114
|
| |
20,370
|
| |
21,122
|
| |
21,456
|
| |
22,660
|
| |
23,725
|
| |
23,366
|
| |
(2
|
%)
|
22
|
%
|
| Standard & Poor’s® 500 |
6,032
|
| |
5,882
|
| |
6,041
|
| |
5,955
|
| |
5,612
|
| |
5,569
|
| |
5,912
|
| |
6,205
|
| |
6,339
|
| |
6,460
|
| |
6,688
|
| |
6,840
|
| |
6,849
|
| |
-
|
|
14
|
%
|
| Client Assets (in billions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Beginning Client Assets |
9,852.0
|
| |
10,305.4
|
| |
10,101.3
|
| |
10,333.1
|
| |
10,280.2
|
| |
9,929.7
|
| |
9,892.2
|
| |
10,349.0
|
| |
10,757.3
|
| |
10,963.5
|
| |
11,228.1
|
| |
11,593.9
|
| |
11,828.0
|
| | | |
| Net New Assets (1) |
25.5
|
| |
60.2
|
| |
30.5
|
| |
46.6
|
| |
55.3
|
| |
1.1
|
| |
33.6
|
| |
38.9
|
| |
45.7
|
| |
43.3
|
| |
45.4
|
| |
41.6
|
| |
38.7
|
| |
(7
|
%)
|
52
|
%
|
| Net Market Gains (Losses) |
427.9
|
| |
(264.3
|
)
| |
201.3
|
| |
(99.5
|
)
| |
(405.8
|
)
| |
(38.6
|
)
| |
423.2
|
| |
369.4
|
| |
160.5
|
| |
221.3
|
| |
320.4
|
| |
192.5
|
| |
(32.4
|
)
| | | |
| Total Client Assets (at month end) |
10,305.4
|
| |
10,101.3
|
| |
10,333.1
|
| |
10,280.2
|
| |
9,929.7
|
| |
9,892.2
|
| |
10,349.0
|
| |
10,757.3
|
| |
10,963.5
|
| |
11,228.1
|
| |
11,593.9
|
| |
11,828.0
|
| |
11,834.3
|
| |
-
|
|
15
|
%
|
| Core Net New Assets (1,2) | 28.8 |
| | 61.4 |
| | 30.6 |
| | 48.0 |
| | 59.1 |
| | 2.7 |
| | 35.0 |
| | 42.6 |
| | 46.9 |
| | 44.4 |
| | 46.2 |
| | 44.4 |
| | 40.4 |
| | (9 | %) | 40 | % |
| Receiving Ongoing Advisory Services (at month end) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Services |
688.9
|
| |
682.0
|
| |
698.7
|
| |
703.5
|
| |
688.8
|
| |
688.2
|
| |
711.2
|
| |
737.6
|
| |
747.9
|
| |
771.1
|
| |
792.5
|
| |
807.6
|
| |
817.9
|
| |
1
|
%
|
19
|
%
|
| Advisor Services |
4,489.2
|
| |
4,379.7
|
| |
4,496.6
|
| |
4,493.2
|
| |
4,372.3
|
| |
4,353.0
|
| |
4,525.6
|
| |
4,687.4
|
| |
4,765.1
|
| |
4,888.2
|
| |
5,016.7
|
| |
5,106.1
|
| |
5,155.9
|
| |
1
|
%
|
15
|
%
|
| Client Accounts (at month end, in thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Active Brokerage Accounts |
36,222
|
| |
36,456
|
| |
36,709
|
| |
36,861
|
| |
37,011
|
| |
37,254
|
| |
37,375
|
| |
37,476
|
| |
37,658
|
| |
37,798
|
| |
37,963
|
| |
38,145
|
| |
38,266
|
| |
-
|
|
6
|
%
|
| Banking Accounts |
1,980
|
| |
1,998
|
| |
2,019
|
| |
2,033
|
| |
2,050
|
| |
2,066
|
| |
2,077
|
| |
2,096
|
| |
2,116
|
| |
2,137
|
| |
2,150
|
| |
2,172
|
| |
2,189
|
| |
1
|
%
|
11
|
%
|
| Workplace Plan Participant Accounts (3) |
5,393
|
| |
5,399
|
| |
5,450
|
| |
5,464
|
| |
5,495
|
| |
5,518
|
| |
5,563
|
| |
5,586
|
| |
5,619
|
| |
5,606
|
| |
5,619
|
| |
5,696
|
| |
5,730
|
| |
1
|
%
|
6
|
%
|
| Client Activity | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| New Brokerage Accounts (in thousands) |
357
|
| |
431
|
| |
433
|
| |
362
|
| |
388
|
| |
439
|
| |
336
|
| |
323
|
| |
377
|
| |
382
|
| |
384
|
| |
429
|
| |
365
|
| |
(15
|
%)
|
2
|
%
|
| Client Cash as a Percentage of Client Assets (4) |
9.5
|
%
| |
10.1
|
%
| |
9.8
|
%
| |
10.0
|
%
| |
10.6
|
%
| |
10.5
|
%
| |
10.1
|
%
| |
9.9
|
%
| |
9.7
|
%
| |
9.5
|
%
| |
9.4
|
%
| |
9.3
|
%
| |
9.4
|
%
| | 10 bp | (10) bp |
| Derivative Trades as a Percentage of Total Trades |
19.7
|
%
| |
18.6
|
%
| |
19.3
|
%
| |
19.9
|
%
| |
19.5
|
%
| |
18.4
|
%
| |
21.0
|
%
| |
20.8
|
%
| |
21.3
|
%
| |
22.5
|
%
| |
22.3
|
%
| |
23.8
|
%
| |
21.7
|
%
| | (210) bp | 200 bp |
| Selected Average Balances (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Average Interest-Earning Assets (5) |
425,789
|
| |
431,177
|
| |
431,523
|
| |
424,805
|
| |
425,228
|
| |
430,884
|
| |
419,638
|
| |
417,768
|
| |
418,640
|
| |
417,194
|
| |
423,629
|
| |
433,631
|
| |
436,347
|
| |
1
|
%
|
2
|
%
|
| Average Margin Balances |
76,932
|
| |
81,507
|
| |
82,551
|
| |
84,233
|
| |
82,725
|
| |
77,478
|
| |
79,132
|
| |
82,339
|
| |
85,492
|
| |
90,399
|
| |
94,609
|
| |
101,192
|
| |
108,863
|
| |
8
|
%
|
42
|
%
|
| Average Bank Deposit Account Balances (6) |
84,385
|
| |
85,384
|
| |
84,790
|
| |
83,089
|
| |
84,302
|
| |
84,060
|
| |
81,495
|
| |
81,014
|
| |
80,755
|
| |
79,781
|
| |
79,308
|
| |
76,203
|
| |
73,803
|
| |
(3
|
%)
|
(13
|
%)
|
| Mutual Funds and Exchange-Traded Funds | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net Buys (Sells) (7,8) (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Equities |
13,226
|
| |
14,805
|
| |
10,050
|
| |
4,987
|
| |
(1,221
|
)
| |
7,950
|
| |
10,473
|
| |
8,987
|
| |
10,936
|
| |
8,402
|
| |
8,832
|
| |
6,895
|
| |
4,883
|
| | | |
| Hybrid |
(329
|
)
| |
124
|
| |
(1,324
|
)
| |
(464
|
)
| |
(603
|
)
| |
(1,663
|
)
| |
(287
|
)
| |
(1,038
|
)
| |
(463
|
)
| |
(604
|
)
| |
(452
|
)
| |
(1,278
|
)
| |
(600
|
)
| | | |
| Bonds |
7,473
|
| |
10,969
|
| |
8,747
|
| |
12,162
|
| |
11,438
|
| |
(1,490
|
)
| |
8,483
|
| |
6,050
|
| |
11,920
|
| |
12,993
|
| |
12,502
|
| |
16,206
|
| |
13,371
|
| | | |
| Net Buy (Sell) Activity (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Mutual Funds (7) |
(4,492
|
)
| |
(4,331
|
)
| |
(6,785
|
)
| |
(3,971
|
)
| |
(8,537
|
)
| |
(13,955
|
)
| |
(3,224
|
)
| |
(5,351
|
)
| |
(3,442
|
)
| |
(2,217
|
)
| |
(4,754
|
)
| |
(6,289
|
)
| |
(7,255
|
)
| | | |
| Exchange-Traded Funds (8) |
24,862
|
| |
30,229
|
| |
24,258
|
| |
20,656
|
| |
18,151
|
| |
18,752
|
| |
21,893
|
| |
19,350
|
| |
25,835
|
| |
23,008
|
| |
25,636
|
| |
28,112
|
| |
24,909
|
| | | |
| Money Market Funds |
9,172
|
| |
8,956
|
| |
11,584
|
| |
12,306
|
| |
14,586
|
| |
(6,158
|
)
| |
5,794
|
| |
5,814
|
| |
2,452
|
| |
4,319
|
| |
(517
|
)
| |
6,333
|
| |
7,969
|
| | | |
|
Note: Certain supplemental details related to the information above can be found at: https://www.aboutschwab.com/financial-reports.
|
(1) |
Unless otherwise noted, differences between net new assets and core net new assets are net flows from off-platform Schwab Bank Retail CDs. 2024 also includes outflows from a large international relationship of $0.6 billion in November.
|
(2) |
Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than $25 billion beginning in 2025; $10 billion in prior periods) relating to a specific client, and activity from off-platform Schwab Bank Retail CDs. These flows may span multiple reporting periods.
|
(3) |
Includes accounts in Retirement Plan Services, Stock Plan Services, Designated Brokerage Services, and Retirement Business Services; Participants may be enrolled in services in more than one Workplace business.
|
(4) |
Schwab One®, certain cash equivalents, bank deposits, third-party bank deposit accounts, and money market fund balances as a percentage of total client assets; client cash excludes brokered CDs issued by Charles Schwab Bank.
|
(5) |
Represents average total interest-earning assets on the Company's balance sheet.
|
(6) |
Represents average clients’ uninvested cash sweep account balances held in deposit accounts at third-party financial institutions.
|
(7) |
Represents the principal value of client mutual fund transactions handled by Schwab, including transactions in proprietary funds. Includes institutional funds available only to Investment Managers. Excludes money market fund transactions.
|
(8) |
Represents the principal value of client ETF transactions handled by Schwab, including transactions in proprietary ETFs.
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20251212030405/en/
Contacts:
MEDIA:
Mayura Hooper
Charles Schwab
Phone: 415-667-1525
INVESTORS/ANALYSTS:
Jeff Edwards
Charles Schwab
Phone: 817-854-6177
Source: The Charles Schwab Corporation
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