Schwab client assets climb 1% in April from previous month to $7.63 trillion

Charles Schwab Corp.
SCHW,
+1.90%
said Friday its total client assets for April rose 1% over the previous month to $7.63 trillion, and were up 5% from April 2022. Active brokerage accounts in April rose 1% from the previous month to 34.2 million, but remained about flat from the year-ago period. Total net new assets brought by new and existing clients was $13.6 billion, while core net new assets equaled negative $2.3 billion. “These flows reflect client cash disbursements during tax season,” Schwab said. Schwab stock rose 1% in premarket trades.