Charles Schwab CEO on Growth Drivers and Market Trends

Delivering Value in a Down Market

• 💡 In a quarter with declining markets, Charles Schwab focused on delivering for clients, which led to record trading days and call volumes.
• 🎯 The company's award-winning platforms, service, and advice were key in helping clients navigate their financial lives.

Strong Net New Asset Growth

• 🚀 Charles Schwab experienced significant growth, adding $80 billion in net new assets during the quarter.
• 📈 June alone saw $43 billion in net new assets, a 46% increase compared to the previous year.
• ✅ This growth contributed to record earnings and revenue for the company.

Diversified Channel Growth

• 🤝 Growth is strong across all channels, including the advisor channel and the retail channel.
• 🌟 Retail net new assets increased by 50% in the first half of the year compared to the first half of last year.
• 💼 The workplace channel also achieved record net new assets.

Addressing Cash Sorting and Future Outlook

• 📉 The issue of transactional cash sorting is considered over, with wholesale borrowing significantly reduced.
• 💰 The company anticipates continued earnings acceleration as maturing bonds are reinvested at higher yields.
• ✨ Client satisfaction is at an all-time high, reflecting the company's success in serving its clients.