Schwab Reports Monthly Activity Highlights

  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
 
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