15 when the company released its August activities report, which showed $43.3 billion in new net client assets, up 37% from July, and 332,000 new brokerage accounts, up 17% from the previous month. Overall, Schwab saw revenue jump 13% year over year in the second quarter - with about half of the gains coming from net interest income. While revenue from trading and asset management was down in the most recent quarter, Schwab saw a 31% increase in net interest income from its banking business due largely to rising interest rates. Schwab has outperformed many of its competitors this year, mainly due to its diversified business model, which includes wealth management, securities brokerage, banking, asset management, custody, and financial advisory services, as well as its efficient management. Schwab beat all the major benchmarks as the S&P 500 fell 9.3%, the Nasdaq Composite dropped 10.5%, and the Dow Jones Industrial Average plummeted 8.8% in September. Charles Schwab is currently trading at about $74 per share as of Oct. 21, then fell back to close the month at $71.87 - up 1.3%. The financial services giant had been up as much as 5.6% at around $75 per share on Sept. Schwab reserves the right to change or terminate the guarantee at any time.In a bad month for the stock market, Charles Schwab ( SCHW 0.03%) performed relatively well in September, returning 1.3%, according to S&P Global Market Intelligence. No other charges or expenses, and no market losses will be refunded. Refunds will only be applied to the account charged and will be credited within approximately four weeks of a valid request. The guarantee is only available to current clients. The guarantee does not cover Program Fees for accounts managed by investment advisors who are not affiliated with Schwab or managed by Schwab‐affiliated advisors outside of the SWA, SMP, SIP Premium, and Connection services. The Connection service includes only accounts managed by Charles Schwab Investment Management, Inc., an affiliate of Schwab. įor more information about Program Fees, please see the disclosure brochure for the Participating Service, made available at enrollment or any time at your request. Two kinds of “Fees” are eligible for this guarantee: (1) “Program Fees” for the Schwab Wealth Advisory (“SWA”), Schwab Managed Portfolios™ (“SMP”), Schwab Intelligent Portfolios Premium™ (“SIP Premium”), and Managed Account Connection® (“Connection”) investment advisory services sponsored by Schwab (together, the “Participating Services”) and (2) commissions and fees listed in the Charles Schwab Pricing Guide for Individual Investors or the Charles Schwab Bank Pricing Guide. Refund requests must be received within 90 days of the date the fee was charged. (“Schwab”), Charles Schwab Bank, SSB (“Schwab Bank”), or another Schwab affiliate, as applicable, will refund any eligible fee related to your concern. Schwab Satisfaction Guarantee: If you are not completely satisfied for any reason, at your request Charles Schwab & Co., Inc.
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See the Charles Schwab Pricing Guide for Individual Investors for full fee and commission schedules.Ģ. Exchange process, ADR, foreign transaction fees for trades placed on the US OTC market, and Stock Borrow fees still apply. Service charges apply for trades placed through a broker (US$25) or by automated phone (US$5). Options trades will be subject to the standard US$.65 per-contract fee. The standard online US$0 commission does not apply to large block transactions requiring special handling, restricted stock transactions, trades placed directly on a foreign exchange, transaction-fee mutual funds, futures, or fixed income investments.
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