Brokerage firm Charles Schwab said on Tuesday its client asset reached a record high of $3.77 trillion in the third quarter.
Schwab jumped as much as 4% after reporting total client assets reached a record of $3.77 trillion at the end of the third quarter.commission free But Schwab is betting the lost fee revenue can be made up for in new assets for the firm. The company said clients brought in $56.6 billion in new assets in the third quarter. The firm added 363,000 new brokerage accounts in the quarter, bringing the total number of accounts to 12.1 million.
Source: News Formal (newsformal.com)
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