Charles Schwab Publishes Financial Figures for February 2021

American equities broker Charles Schwab today published its monthly activity report for February 2021, showing a huge growth in client assets on a YoY basis.

According to Charles Schwab, core net new assets brought to the company by new and existing clients came in at $51.4 billion. 

The broker recorded $50.3 billion in net new assets excluding mutual fund clearing.

By the end of February, the number of total client assets reached $6.90 trillion, 79% higher than February 2020 and 2% compared to the previous month in 2021.

In addition, new brokerage accounts were 1.2 million in February, up over 200% from the same period in 2020 and up 11% compared to January 2021.

​Peter Crawford, Executive Vice President and Chief Financial Officer at Charles Schwab, commented, "Most recently, the added accelerant of social media-influenced trading has led to a massive surge in interactions for brokerage firms and helped push equity trading volumes to truly breathtaking heights – well beyond the pre-pandemic peak reached during the 2008 financial crisis. Given our size and reach, it’s no surprise that Schwab – with the inclusion of TD Ameritrade – has seen engagement levels soar as clients utilize our broad array of products, solutions, and educational resources to meet their investing needs."