Administration February 9, 2001
Schwab Client Assets Cross Trillion-Dollar Mark
September 14, 2000 (PLANSPONSOR.com) - Charles Schwab client accounts topped $1 trillion in assets for the first time as of August 31.
Reported by Nevin E. Adams
Schwab said total client assets were $1.003 trillion at the end of August, up 43% from a year earlier.
The discount broker gained nearly $10 billion in net new assets in August.
August trading was the slowest of the year, with daily trading activity down 15% from a month earlier.
However, the average daily trading volume of 184,600 shares was 46% higher than a year ago.
September trading volumes are up somewhat, to about 215,000 shares a day according to Schwab.
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