The impact of customer attrition on Schwab’s performance

  • Schwab’s net new assets fell to $11.3 billion in October
  • This is a significant drop from previous months
  • TD Ameritrade customer attrition is impacting Schwab’s performance
  • September saw Schwab bring in $27.1 billion in net new assets
  • October 2022 saw Schwab notch $42 billion in net new assets

Charles Schwab reported a decline in core net new assets for October, with a drop to $11.3 billion. This is a significant decrease compared to the $27.1 billion brought in during September and the $42 billion achieved in October 2022. The ongoing attrition of TD Ameritrade customers continues to affect Schwab’s performance.

Public Companies: Charles Schwab (SCHW), TD Ameritrade (undefined)
Private Companies:
Key People:

Track all markets on TradingView

Factuality Level: 7
Justification: The article provides specific data and quotes from the company’s monthly activity report, which adds credibility to the information presented. However, the article lacks context and background information, making it difficult to fully understand the significance of the reported numbers. Additionally, the article includes a promotional message at the end, which may indicate a potential bias.

Noise Level: 2
Justification: The article provides clear and concise information about the decline in core net new assets at Charles Schwab due to attrition of TD Ameritrade customers. It includes specific figures for October and compares them to previous months. The article stays on topic and does not dive into unrelated territories. However, it lacks evidence, data, or examples to support its claims and does not provide any actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: The article pertains to the financial industry, specifically the impact on Charles Schwab due to the attrition of TD Ameritrade customers.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the decline in core net new assets for Charles Schwab, which is a financial event impacting the company.

Reported publicly: www.barrons.com