Charles Schwab’s Number of Brokerage Accounts (2016-2023)

This statistic highlights Charles Schwab’s Number of Brokerage Accounts, reported on a quarterly basis from 2016 onwards.

Charles Schwab’s Number of Brokerage Accounts

The Charles Schwab Corporation is a well-known financial services company that offers a range of brokerage accounts to individual and institutional investors. The Corporation offers a variety of brokerage accounts, including:

• Individual brokerage accounts
• Joint brokerage accounts
• Retirement brokerage accounts
• Organization brokerage accounts.

Charles Schwab’s primary source of financial resources is cash inflows from client transactions, which consist of bank deposits and client brokerage account balances. These funds are utilized to acquire investment securities and provide loans to clients. Other sources of funding may include cash inflows from operations, maturity and sale of investment securities, loan repayments, securities lending of client brokerage assets, repurchase agreements, etc.

(All figures in USD millions, except percentages)

Number of Brokerage Accounts

Active brokerage accounts are brokerage accounts that have been active in the past 270 days. New brokerage accounts include all brokerage accounts opened during the period, as well as any accounts added via acquisition.

The number of new brokerage accounts was 4.0 million in 2022, which was a decrease from the previous year. Active brokerage accounts totaled 33.8 million as of Dec. 31, 2022, a 2% increase from Dec. 31, 2021. In the first quarter of 2023, the number of active brokerage accounts reached 34.1 million, showing a 1.6% growth year-over-year.

About Charles Schwab Corporation

The Charles Schwab Corporation is a worldwide American financial services provider that provides banking, commercial banking, investing, and associated services such as consulting and wealth management advisory services to both retail and institutional clients. It has more than 400 branches, most of which are located in financial hubs in the United States and the United Kingdom.

Schwab provides a comprehensive suite of financial products and services to meet the diverse investment and financial requirements of its clients. These include brokerage accounts with full functionality, brokerage services, advice solutions, and trust custody services. With its roots in online brokerage services, Schwab has expanded its offerings to include banking, wealth management, retirement planning, and advisory services.

Brokerage accounts offer a range of features, such as equity, fixed income, margin, options, futures, and foreign exchange trading, as well as cash management capabilities, such as certificates of deposit. Brokerage services also include mutual funds, ETFs, and other services, such as trading and clearing. Advice solutions provide customized personal advice tailored to the client’s needs, while trust custody services provide the ability to monitor and report on a client’s trustworthiness.

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