SAN FRANCISCO, June 14 /PRNewswire-FirstCall/ -- The Charles Schwab
Corporation released its Monthly Market Activity Report today. Company
highlights for the month of May 2007 include:
-- Net new assets brought to the company by new and existing clients in
May 2007 totaled $10.7 billion. In addition, effective May 2007, total
client assets include balances covered by 401(k) recordkeeping-only
services related to the March 2007 acquisition of The 401(k) Company.
This adjustment increased May net new assets and total client assets by
$5.2 billion, resulting in overall net new assets of $15.9 billion.
-- Total client assets were $1.389 trillion as of month-end May, up 24%
from May 2006 and up 4% from April 2007.
-- Client daily average trades were 265.0 thousand in May 2007, down 12%
from May 2006 and up 3% from April 2007.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of
financial services, with more than 300 offices and 6.9 million client
brokerage accounts, 1,128,000 corporate retirement plan participants,
165,000 banking accounts, and $1.4 trillion in client assets. Through its
operating subsidiaries, the company provides a full range of securities
brokerage, banking, money management and financial advisory services to
individual investors and independent investment advisors. Its broker-dealer
subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org),
and 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 its Schwab Institutional division. The Charles Schwab
Bank, N.A. (member FDIC) provides banking and mortgage services and
products. CyberTrader(R), Inc. (member SIPC, http://www.sipc.org) is an
electronic trading technology and brokerage firm providing services to
highly active, online traders. More information is available at
http://www.schwab.com.
SOURCE Charles Schwab
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Related links:
http://www.schwab.com/
CONTACT:
Media, Greg Gable, +1-415-636-5847, or
Investors-Analysts, Mike Canady, +1-415-636-9803, both of Charles
Schwab
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