Charles Schwab Corp. increased its total client assets under management to more than $1.65 trillion, and it brought in $9.9 billion of net new assets in July alone.
Company officials said the $1.65 trillion in total assets represents a 16% improvement from July 2010 but was essentially flat with June inflows.
The $9.9 billion increase in new assets, brought in either from new or existing clients, included a $4.8 billion inflow related to a mutual fund services client.
Client daily average trades rose 11% from July 2010 and 11% from June 2011. July 2011 trading activity was elevated by a seasonal rise in Schwab Mutual Fund OneSource transactions.
Schwab operates more than 300 offices and services 8.2 million client brokerage accounts, 1.44 million corporate retirement plan participants and 754,000 banking accounts.
