Charles Schwab Statistics 2026: AUM, Revenue, and Account Data

Schwab held $11,767.9 billion in total client assets as of March 31, 2026, up 19% year over year. The brokerage runs 39,099 active brokerage accounts and 47,200 total client accounts as of Q1 2026, a base built through a decade of pricing changes and a $22 billion stock-funded acquisition that closed in late 2020.

Two structural shifts shape the numbers below. The October 2019 commission elimination rerouted revenue toward net interest income and fees. The October 2020 TD Ameritrade close then doubled trading volume.

Key Takeaways

• Total client assets reached $11,767.9 billion at March 31, 2026, a 19% year-over-year gain, with $140.0 billion in core net new assets gathered in Q1 2026.
• Net interest revenue ran $11.750 billion in 2025, up 28% year over year, and now anchors roughly 49% of total net revenues.
• Active brokerage accounts grew to 39,099 in Q1 2026, up 6% year over year, with workplace plan accounts at 5,844 and banking accounts at 2,281.
• Daily average trades hit a record 9,899 in Q1 2026, up 34% year over year, more than double the post-acquisition baseline.
• Full-year 2025 GAAP net income was $8.852 billion on diluted EPS of $4.65, up 49% and 56% versus 2024.
• Margin loan balances stood at $126.7 billion in Q1 2026, up 13% versus year-end 2025, a fresh record for the platform.

Editor’s Choice

• Schwab reported full-year 2025 total net revenues of $23.921 billion, up 22% versus 2024.
• GAAP net income reached $8.852 billion in 2025, up from $5.942 billion in 2024.
• Total client assets closed 2025 at $11.903 trillion, up 18% versus year-end 2024.
• Daily average trades averaged 8.3 million for full-year 2025, up 31% versus 2024.
• Core net new assets totaled $519.4 billion in 2025, up 42% year over year.
• Market capitalization for SCHW sat near approximately $161.62 billion in May 2026, with an all-time-high stock price of $107.50 reached on February 10, 2026.

Recent Developments

• April 16, 2026: Q1 2026 net revenues hit $6,482 million, GAAP net income reached $2,479 million, and adjusted diluted EPS equaled $1.43.
• April 16, 2026: The Spring Business Update disclosed March 2026 core net new assets of $79.7 billion, the second-highest single month on record.
• March 2026: Schwab reported February 2026 daily average trades of 9.9 million, a record, and total client assets of $12.22 trillion.
• January 21, 2026: Year-end 2025 results showed annual core net new assets of $519.4 billion and active brokerage accounts of 38.5 million.
• Q1 2026: Margin loan balances reached $126.7 billion, up 13% from year-end 2025, reflecting heavier client borrowing alongside record trading.

Total Client Assets by Year

Per Schwab Investor Relations, total client assets reached $11,767.9 billion at March 31, 2026, up 19% year over year. The platform crossed the $10 trillion threshold during 2024 and added more than $1 trillion through Q1 2026 across rising markets and steady inflows.

• Year-end 2024 client assets sat at $10.101 trillion, up 19% from $8.517 trillion at year-end 2023.
• Year-end 2025 client assets reached $11.903 trillion, up 18% versus 2024.
• Q1 2026 client assets equaled $11,767.9 billion at March 31, 2026.
• February 2026 client assets equaled $12.22 trillion at month-end, up 19% from February 2025.

Source: Schwab investor relations.

Three forces drive the trajectory: Equity market gains, organic asset gathering, and the residual TD Ameritrade integration tailwind.

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Active Brokerage Accounts and Client Account Mix

Per Schwab Investor Relations, active brokerage accounts reached 39,099 at March 31, 2026, up 6% year over year. Total client accounts, which include workplace plan participants and banking accounts, hit 47,200 in Q1 2026.

• Active brokerage accounts at year-end 2024 were 36.5 million, up 5% from 34.8 million at year-end 2023.
• Workplace plan participant accounts grew to 5,844 in Q1 2026, up 6% year over year.
• Banking accounts reached 2,281 in Q1 2026, up 11% year over year.
• Year-end 2025 active brokerage accounts were 38.5 million, up 6% versus 2024.

Source: Schwab investor relations.

Daily Average Trades and Trading Activity

Per the Q1 2026 earnings release filed with the SEC, daily average trades on the combined Schwab platform reached 9,899 in Q1 2026, up 34% year over year. The figure is more than double the daily volume the combined firm reported when the TD Ameritrade acquisition closed in October 2020.

• Q4 2024 daily average trades equaled 6,312, up 22% versus Q4 2023.
• Full-year 2025 daily average trades averaged 8.3 million, up 31% versus 2024’s 6.312 million.
• February 2026 daily average trades hit 9.9 million, a record.
• At the October 2020 acquisition close, the combined platform reported more than 5 million daily average trades.

Net New Assets and Organic Growth

Core net new assets reached $140.0 billion in Q1 2026 for the firm, with the firm describing it as the largest first quarter since the integration. Asset gathering at this scale produces revenue across three lines: net interest income on cash and margin balances, asset management fees on managed solutions, and bank deposit account fees on swept balances.

• March 2026 core net new assets equaled $79.7 billion, the second-highest single month on record.
• Full-year 2025 core net new assets totaled $519.4 billion, up 42% versus 2024.
• Annual 2024 net new assets were $366.9 billion, up 20% versus 2023.

Total Net Revenues by Year

Schwab reported full-year 2025 total net revenues of $23.921 billion, up 22% versus 2024’s $19.606 billion. Q1 2026 added $6,482 million in net revenues, up 16% year over year, on the way to a record-pace year per the Q1 2026 release.

• Annual 2024 total net revenues were $19.606 billion, up 4% from 2023’s $18.837 billion.
• Full-year 2025 total net revenues equaled $23.921 billion, up 22% versus 2024.
• Q1 2026 total net revenues equaled $6,482 million, up 16% year over year.
• Q4 2025 net revenues hit $6.336 billion, up 19% versus Q4 2024’s $5.329 billion.

Net Interest Revenue and Margin

Net interest revenue is now the dominant line in Schwab’s income mix. Full-year 2025 net interest revenue was $11.750 billion, up 28% versus 2024’s $9.144 billion. The line accounts for roughly 49% of total net revenues.

• Q1 2026 net interest revenue equaled $3,144 million.
• Annual 2024 net interest revenue was $9.144 billion, down from 2023’s $9.427 billion.
• Full-year 2025 net interest revenue reached $11.750 billion, up 28%.
• The 2024 10-K attributed the year’s decline to lower average interest-earning assets and higher funding costs, partially offset by growth in margin and bank lending.

Source: Schwab IR and SEC EDGAR.

Key finding: Net interest revenue accounted for roughly 49% of total net revenues at Schwab in 2025, a structural shift away from commissions toward balance-sheet income that began with the October 2019 zero-commission move and accelerated through the TD Ameritrade integration close in October 2020.

Asset Management and Administration Fees

Asset management and administration fees reached $6.506 billion in 2025, up 14% versus 2024’s $5.716 billion. The line captures fees from advice solutions, mutual fund and ETF servicing, the Schwab Bank affiliated trust, and Schwab Asset Management products.

• Q1 2026 asset management and administration fees equaled $1,759 million, up 15% year over year.
• Full-year 2024 fees were $5.716 billion, up from 2023’s $4.756 billion.
• Annual 2025 fees reached $6.506 billion, up 14%.
• Bank deposit account fees totaled $977 million in 2025, up 34% versus 2024’s $729 million.

Trading Revenue After Zero Commissions

Trading revenue at the firm totaled $3.921 billion in 2025, up 20% versus 2024’s $3.264 billion. The line, which captures principal transactions, order flow rebates, and fees on options and crypto, sits at roughly 16% of total revenue, far below the commission-heavy mix that dominated through October 2019.

• Q1 2026 trading revenue equaled $1,089 million, up 20% year over year.
• Full-year 2024 trading revenue was $3.264 billion, up from 2023’s $3.230 billion.
• Full-year 2025 trading revenue reached $3.921 billion, up 20%.
• At the October 2019 zero-commission move, CFO Peter Crawford estimated commissions represented about $90 million to $100 million in quarterly revenue.
• At that time, Bank of America estimated Schwab generated about 8% of revenue from commissions, compared to 28% for TD Ameritrade and about 17% for E*TRADE.

For trading-platform context across crypto venues, see crypto exchange market data.

GAAP Net Income and Earnings Per Share

Annual 2025 GAAP net income was $8.852 billion, up 49% versus 2024’s $5.942 billion. Diluted EPS rose to $4.65 in 2025, up 56% from $2.99 in 2024.

• Q1 2026 GAAP net income equaled $2,479 million on diluted EPS of $1.37.
• Q1 2026 adjusted net income reached $2,588 million on adjusted diluted EPS of $1.43, up 38% year over year.
• Full-year 2024 GAAP net income was $5.942 billion on diluted EPS of $2.99, up 17% and 18% versus 2023.
• Full-year 2025 GAAP net income reached $8.852 billion on diluted EPS of $4.65.

Source: Schwab investor relations.

Charles Schwab Bank Deposits and Margin Loans

Total bank deposits at Schwab stood at $253.0 billion in Q1 2026, up 3% year over year. Margin loan balances reached $126.7 billion in Q1 2026, up 13% versus year-end 2025.

• Year-end 2025 bank deposit balances equaled $255.7 billion, down 1% versus 2024’s $259.1 billion.
• Year-end 2025 margin loan balances reached $112.3 billion, up 34% versus 2024’s $83.8 billion.
• February 2026 margin loan balances hit a record $120.6 billion, up 7% from year-end 2025.
• Q1 2026 bank deposits and margin loans expanded together, marking the first quarter where margin balances exceeded $125 billion.

Schwab Advisor Services and RIA Custody Platform

The Charles Schwab Corporation’s Advisor Services unit serves over 16,000 independent advisory firms with over $5 trillion on its custody platform. The platform combines Schwab’s pre-acquisition advisor base with the TD Ameritrade Institutional book that was migrated over Labor Day 2023.

• Schwab Advisor Services discloses over 16,000 independent advisory firms on the custody platform.
• Custody assets reach over $5 trillion across the combined post-acquisition platform.
• A team of 3,000-plus Schwab professionals supports the RIA firms on the platform.
• The advisor tech stack offers over 235 third-party technology integrations.

Source: Schwab Advisor Services.

TD Ameritrade Acquisition Scorecard

Schwab closed the TD Ameritrade acquisition on October 6, 2020, with the combined company holding approximately $6 trillion in client assets, 28 million brokerage accounts, and more than 5 million daily average trades. Five and a half years later, the platform has roughly doubled its trading volume and added approximately $5.8 trillion in client assets.

• At close, the combined firm held approximately $6 trillion in client assets and 28 million brokerage accounts.
• The deal funded approximately 509 million shares of Schwab common stock and 77 million shares of nonvoting common stock as merger consideration.
• The final integration phase moved over 7,000 advisors, nearly 4 million client accounts, and $1.3 trillion in TD Ameritrade assets to Schwab over Labor Day weekend 2023.
• The Labor Day weekend conversion involved 3.6 million advisor clients and another 3.6 million retail clients.
• Promoter scores among former TD Ameritrade retail clients rose 50 points in the nine months after the conversion was completed.

Source: Schwab acquisition close press release.

By the numbers: From the October 6, 2020 acquisition close through March 31, 2026, the firm roughly doubled daily average trades from over 5 million to 9.9 million and added approximately $5.8 trillion in client assets, with the Labor Day 2023 client transition finishing the integration.

The pattern shows scale compressing operating expenses as a percentage of client assets, the metric flagged at deal close.

SCHW Market Cap and Stock Performance

Schwab’s market capitalization sat near approximately $161.62 billion in May 2026. SCHW reached an all-time-high stock price of $107.50 on February 10, 2026, before pulling back to $91.54 at the May 1, 2026 close.

• May 2026 market cap stood near approximately $161.62 billion.
• The all-time-high stock price hit $107.50 on February 10, 2026.
• Since December 1, 1998, SCHW’s market cap has increased from $14.43 billion to $165.02 billion, an increase of 1,043.34%, with a compound annual growth rate of 9.33%.

Source: Macrotrends SCHW market cap history (cross-referenced to NYSE SCHW closing prices and SEC EDGAR filings).

Headcount and Operating Expenses

Schwab employed 33,500 full-time equivalent staff in Q1 2026, up 4% year over year. Total expenses excluding interest were $3,294 million in Q1 2026, up 5% year over year.

• Q1 2026 full-time equivalent employees equaled 33,500.
• Year-end 2025 employees were 33,000, up 3% versus 2024’s 32,100.
• Annual 2025 total expenses excluding interest were $12.462 billion, up 5% versus 2024’s $11.914 billion.
• Full-year 2024 total expenses excluding interest were $11.914 billion, down from 2023’s $12.459 billion.

Source: Schwab investor relations.

For peer fintech context, see Revolut growth statistics on comparable neobank scaling metrics.

Frequently Asked Questions (FAQs)

Conclusion

Schwab entered Q2 2026 with $11,767.9 billion in client assets, 39,099 active brokerage accounts, and daily average trades of 9,899. Net interest revenue, not trading commissions, drives roughly 49% of the income mix, a structural reversal that began with the October 2019 zero-commission move and accelerated through the TD Ameritrade integration.

CoinLaw’s coverage of US discount brokers shows that scale plus a balance-sheet income engine survives commission compression. The next reads to watch are net new asset growth, margin loan utilization, and the trading-revenue share of total revenue.