SAN FRANCISCO, Nov. 14 /PRNewswire-FirstCall/ -- The Charles Schwab
Corporation released its Monthly Market Activity Report today. Company
highlights for the month of October 2006 include:
o Net new assets brought to the Company by new and current clients in
October 2006 totaled negative $11.0 billion, which reflects a $19.5
billion outflow related to a mutual fund clearing services client who
completed the transfer of these assets to an internal platform.
Excluding this outflow, net new assets were $8.5 billion.
o Total client assets were $1.353 trillion as of month-end October, up
17% from October 2005 and up 2% from September 2006. In comparison,
the Schwab 1000 Index(R) was up 14% from October 2005 and up 3% from
September 2006.
o Client daily average trades were 244.2 thousand in October 2006, down
6% from October 2005 and up 4% from September 2006.
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of
financial services, with more than 330 offices and 6.8 million client
brokerage accounts, 540,000 corporate retirement plan participants, 183,000
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. The company's other operating subsidiaries include U.S. Trust
Corporation (member FDIC) and CyberTrader(R), Inc. (member SIPC,
http://www.sipc.org). 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, Rich Fowler, +1-415-636-9869, both of Charles
Schwab
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