Schwab Reports Monthly Activity Highlights Business Wire SAN FRANCISCO -- December 14, 2012 The Charles Schwab Corporation released its Monthly Market Activity Report today. Company highlights for the month of November 2012 include: *Net new assets brought to the company by new and existing clients in November 2012 totaled $16.2 billion, including a $5.4 billion inflow related to a mutual fund clearing services client and a $0.9 billion outflow related to a planned transfer from Corporate Brokerage Services. *Total client assets were a record $1.92trillion as of month-end November, up 15% from November 2011 and up 1% compared to October 2012. *Client daily average trades were 431.8 thousand in November 2012, flat compared to November 2011 and down 2% compared to October 2012. November 2012 trading activity included a 6% sequential increase in daily average revenue trades. CFO Joe Martinetto commented, “Broader signs of an improving economy, along with our ongoing investment in our clients, are helping to drive strong asset growth in our business. November core net new assets of $11.7 billion were the highest for a single month since January 2009. With the fiscal debate continuing in Washington, client trading activity remains muted as we head towards year-end. Despite this trend and the loss of trading revenue due to Hurricane Sandy-related exchange closures, we believe our progress in building the client base should help year-over-year revenue growth reach approximately 8% for the fourth quarter of 2012. Additionally, the company’s financial discipline remains firmly in place - we anticipate that fourth quarter expenses will come in approximately 1% higher than the year-earlier period, consistent with our expectations given the environment. Under these circumstances we’d expect net income growth of approximately 25% over the fourth quarter of 2011.” The SMART report can be viewed with its accompanying 12-month data at www.aboutschwab.com/investor_relations/financial_reports. Forward Looking Statements This press release contains forward looking statements relating to the company’sclient trading activity,revenue growth,expenses and net income growth. Achievement of these expectations is subject to risks and uncertainties that could cause actual results to differ materially from the expressed expectations. Important factors that may cause such differences include, but are not limited to, general market conditions, including the level of interest rates, equity valuations and trading activity; net interest margin; level of expenses; the company’s ability to attract and retain clients and grow client assets/relationships; competitive pressures on rates and fees;the level of client assets, including cash balances; the company’s ability to monetize client assets; the company’s ability to develop and launch new products, services and capabilities in a timely and successful manner; capital needs and management; the impact of changes in market conditions on money market fund fee waivers, revenues, expenses and pre-tax margins; the effect of adverse developments in litigation or regulatory matters and the extent of any charges associated with legal matters; any adverse impact of financial reform legislation and related regulations; and other factors set forth in the company’s Form10-Q for the period endingSeptember 30,2012. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 300offices and 8.7million client brokerage accounts, 1.6million corporate retirement plan participants, 857,000banking accounts, and $1.92 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage services and products. More information is available at www.schwab.com and www.aboutschwab.com. Contact: MEDIA: Charles Schwab Greg Gable, 415-667-0473 or INVESTORS/ANALYSTS: Charles Schwab Richard Fowler, 415-667-1841
Schwab Reports Monthly Activity Highlights
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