Charles Schwab held $13.08 trillion in total client assets as of June 30, 2026, up 22% year over year. The brokerage ran 39.9 million active brokerage accounts, 5.9 million workplace plan participant accounts and 2.4 million banking accounts as of July 31, 2026, with daily average trades of 11.6 million in that month. Those Charles Schwab statistics come straight from the company’s own filings.
Two shifts reshaped those numbers over the past year, and neither shows up in a headline asset figure. Schwab Crypto began rolling out to clients in May 2026, providing direct access to Bitcoin and Ethereum trading. Client margin balances then rose 92% over the twelve months to July 2026 against 19% growth in total client assets. The Charles Schwab statistics below are stamped to the period the company reported them for, because it discloses monthly as well as quarterly.
Key Takeaways
- Total client assets reached $13.08 trillion at June 30, 2026, up 22% year over year, and stood at $13.04 trillion at July month-end, up 19% from July 2025.
- Core net new assets totaled $119.8 billion in the second quarter of 2026, up 49% versus the second quarter of 2025, followed by $58.1 billion in July 2026, an increase of 24% versus July 2025.
- Quarterly net revenues grew year over year by 21% to a record $7.1 billion.
- Client margin loan balances closed July 2026 at $169.9 billion, up 51% from year-end, and up 92% across the twelve months from July 2025.
- Clients’ daily average trading volume reached a record 11.9 million, up 57% versus the second quarter of 2025, while revenue per trade fell to $1.64 from $2.03.
- Schwab reported a Common Equity Tier 1 ratio of 26.3% as of March 31, 2026, against a regulatory minimum of 4.5% combined with a stress capital buffer of 2.5%.
- Schwab Crypto opened spot bitcoin and ethereum trading priced at 75 basis points on the dollar value of each trade.
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- Full-year 2025 revenue reached a record $23.9 billion, up 22% versus the prior year.
- Schwab reported GAAP diluted earnings per share of $4.65 for full-year 2025, up 56%.
- The company gathered $519.4 billion in core net new assets across 2025, up 42% versus the prior year, at a full-year organic growth rate of 5.1%.
- Total client accounts reached 48.0 million after 1.4 million new brokerage account openings in the second quarter of 2026.
- Bank loan balances equaled $67.0 billion at June month-end, up 33% year over year.
- Net interest margin expanded 12 basis points quarter over quarter to 3.00%.
- The Schwab Trading Activity Index rose to 59.80 in July from its score of 59.12 in June.
Charles Schwab Statistics: Total Client Assets by Quarter
Total client assets are the headline figure that The Charles Schwab Corporation reports. It covers everything held in client accounts, not the narrower pool a manager charges a fee on.
- Total client assets reached $13.08 trillion at June 30, 2026, up 22% year over year.
- The measure closed 2025 at a record $11.90 trillion.
- Investor Services held 7,343.0 and Advisor Services 5,741.9, in billions of dollars, at quarter-end.
- Net new assets contributed 118.7 of the quarter’s 1,317.0 of net growth, in billions of dollars.
| Quarter ended | Total client assets ($ billions) |
|---|---|
| June 30, 2025 | 10,757.3 |
| September 30, 2025 | 11,593.9 |
| December 31, 2025 | 11,903.0 |
| March 31, 2026 | 11,767.9 |
| June 30, 2026 | 13,084.9 |
Source: The Charles Schwab Corporation, 2Q26 Earnings Release, July 2026
Net market gains supplied roughly 91% of the second quarter’s net growth in client assets. Nine parts market to one part gathering is the ratio to hold in mind on any record asset figure, because the firm controls only one of those inputs. The same market-versus-flows split governs headline growth across asset management as a whole.
About This Data
Nine primary documents supply the Charles Schwab statistics on this page: eight Schwab publications plus one Fidelity corporate page. Schwab reports total client assets in a quarterly Form 8-K earnings release, which goes to the U.S. Securities and Exchange Commission and is served through SEC EDGAR.
Schwab Investor Relations restates that series monthly in its Monthly Activity Report, and company press releases supply the crypto, capital, acquisition, and trading-index figures. The capital figures are Schwab’s own disclosures, not Federal Reserve publications. Schwab reports its Common Equity Tier 1 ratio in the release covering its Comprehensive Capital Analysis and Review results.
Both the quarterly exhibit and the monthly report are published by The Charles Schwab Corporation, namely the 2Q26 earnings release exhibit on SEC EDGAR and the Monthly Activity Report for July 2026.
That monthly cadence restates asset and account balances every four to six weeks. Any Schwab figure older than one reporting month is out of date by construction.
Monthly Client Asset Trajectory
Schwab’s monthly disclosure makes the intra-quarter path visible, and that path was not a straight line.
- Client assets closed 2025 at a record $11.90 trillion.
- The series equaled $13.04 trillion as of month-end July 2026, up 19% from July 2025.
- July’s total was relatively flat compared to June 2026.
March is the only month in that run to finish below the December mark, and April more than reversed it. One quarterly snapshot flatters or punishes a brokerage depending entirely on when it lands.
By the numbers: Total client assets equaled $13.04 trillion as of month-end July, up 19% from July 2025 and relatively flat compared to June 2026. Schwab restates that balance every four to six weeks, so it carries a fixed reporting date rather than a running total.
Recent Developments
- In August 2026, Schwab reported July core net new assets of $58.1 billion, which it described as a July record.
- Also in August 2026, Schwab announced that Schwab Crypto clients will be able to buy and sell Solana, Avalanche, and Chainlink in the coming months.
- In July 2026, Schwab reported that it had launched Schwab Crypto, providing direct access to Bitcoin and Ethereum trading for retail clients, and introduced Portfolio Insights, a generative artificial intelligence capability covering portfolio performance.
- In June 2026, Schwab disclosed its Comprehensive Capital Analysis and Review results, reporting that the Federal Reserve had voted to maintain current stress capital buffer requirements until 2027.
- In March 2026, Schwab completed its acquisition of Forge Global Holdings, which provides eligible investors with direct and indirect access to shares of pre-IPO companies.
- Across the June 2026 quarter, Schwab redeemed $2.1 billion of Series I Preferred Stock, issued $1.5 billion of Series L Preferred Stock, and repurchased 11.2 million shares of common stock for $1.0 billion.
Schwab Crypto and the Digital Asset Rollout
Spot digital assets now sit inside the brokerage account, and the rollout is still in progress.
- Schwab Crypto began rolling out to clients in May 2026 and provides direct access to bitcoin and ethereum trading.
- The company priced the offer at 75 basis points on the dollar value of each trade.
- Schwab described bitcoin and ethereum as together representing approximately three-quarters of the crypto market capitalization.
- Joe Vietri, Head of Digital Assets at Charles Schwab, is named in the announcement of the Solana, Avalanche, and Chainlink additions.
| Digital asset | Status | Reporting date |
|---|---|---|
| Bitcoin (BTC) | Trading live | Rollout began May 2026 |
| Ethereum (ETH) | Trading live | Rollout began May 2026 |
| Solana (SOL) | Announced | August 27, 2026 |
| Avalanche (AVAX) | Announced | August 27, 2026 |
| Chainlink (LINK) | Announced | August 27, 2026 |
Source: Charles Schwab press releases, April and August 2026
Placing five tokens beside equities in one account changes the counterparty, not what the assets do, and that distinction matters to anyone reading a brokerage brand as a proxy for safety. Pricing sits well above what dedicated venues charge, a gap visible in crypto exchange market data, and the product arrives years after the fund wrappers tracked in spot bitcoin fund flows.
Digital assets carry no deposit protection: Cryptocurrency held in a Schwab Crypto account is not a bank deposit and is not insured by the Federal Deposit Insurance Corporation. Schwab surveyed nearly 500 current and prospective cryptocurrency investors, who identified confidence that assets will be kept secure as one of three key factors in choosing a firm for cryptocurrency trading. That is a statement about what investors want rather than a guarantee about what they get.
Schwab named the Schwab Crypto launch in its second-quarter client and business highlights. A brokerage lists a product beside record trade counts when it expects the product to move them. Traders sizing the derivatives side of that question can read the same behavior in options and crypto volumes.
Client Assets by Business Segment
Schwab splits client assets between Investor Services, its retail channel, and Advisor Services, the custody platform serving registered investment advisers.
- Investor Services grew 21% year over year and Advisor Services 22% in the second quarter of 2026.
- Advisor Services brought in 80.2 of net new assets against 38.5 for Investor Services, in billions of dollars.
- Client assets receiving ongoing advisory services reached 5,763.1 for Advisor Services and 933.7 for Investor Services, in billions of dollars, at July month-end.
Investor Services accounted for roughly 56% of total client assets at June 30, 2026, but the split in new money ran the other way. Advisor Services supplied roughly 68% of the quarter’s net new assets. Growth now depends more on winning custody relationships than retail accounts, and custody carries different switching costs.
Active Brokerage Accounts and Account Mix
Account counts grew in every month of the reporting year, which is unusual for any consumer financial product.
- Active brokerage accounts stood at 38.5 million at the end of 2025 and reached 39.9 million as of July 31, 2026.
- Banking accounts grew 13% year over year to July 2026, while active brokerage accounts grew 6% and workplace plan participant accounts grew 5%.
- Schwab opened 417,000 new brokerage accounts during July 2026, an increase of 11% versus July 2025.
- Total client accounts reached 48.0 million after 1.4 million new brokerage account openings in the quarter.
- Account types underneath that headline moved at different speeds.
| Account type | July 2025 (thousands) | July 2026 (thousands) | Year-over-year change |
|---|---|---|---|
| Active brokerage | 37,658 | 39,940 | 6% |
| Workplace plan participant | 5,619 | 5,915 | 5% |
| Banking | 2,116 | 2,381 | 13% |
Source: The Charles Schwab Corporation, Monthly Activity Report for July 2026
Deposits fund the interest-earning balance sheet that now supplies close to half the revenue, which is why the banking line matters. The same deposit-gathering logic drives the numbers at Bank of America, and neobanks chasing the same balances show up in Revolut growth statistics.
Net New Assets and Organic Growth
Net new assets strip out market movement and measure only money clients actually moved in.
- June core asset gathering totaled a record $62.7 billion, an annualized organic growth rate of 5.8%.
- Investors opened 1.4 million new brokerage accounts while bringing $120 billion in core net new assets to the firm during the quarter.
- Across full-year 2025, Schwab gathered $519.4 billion in core net new assets, up 42% versus the prior year.
- The company reported a full-year organic growth rate of 5.1% for 2025.
March 2026 gathered roughly 11.1 times what April managed, the widest month-to-month gap in the series. A better-than-tenfold swing between consecutive months marks this line as seasonal and event-driven rather than a smooth run rate.
Total Net Revenues by Quarter
Revenue climbed across the reported quarters, and the most recent one set the high mark.
- Quarterly net revenues grew year over year by 21% to a record $7.1 billion.
- GAAP expenses for the quarter increased 12% year over year.
- Pre-tax profit margin reached 51.9% against 47.9% a year earlier.
Revenue outrunning expenses by nine percentage points reads as a scale effect rather than cost-cutting.
Where Schwab’s Revenue Comes From
Revenue mix is the clearest evidence of what Schwab has become since it stopped charging commissions.
- Asset management and administration fees grew by 16% year over year to $1.8 billion.
- Record client trading activity drove trading revenue of $1.2 billion, up 28% year over year.
- Net interest revenue accounted for roughly 47% of total net revenues in the quarter.
- Trading revenue accounted for roughly 17%.
A firm most people call a stock brokerage earns close to three times as much from the spread on client cash as from executing trades. That is a bank’s income statement wearing a brokerage’s brand. Fee-based revenue on pooled products sits inside the asset management line, the same economics that govern the mutual fund business.
Why it matters: Net interest margin reached 3.00% in the second quarter of 2026 against 2.66% a year earlier, and the average rate paid on bank deposits fell to 0.19% from 0.55%. Schwab earns the spread between those two rates, so deposit repricing rather than balance growth is what carries the revenue line.
Net Interest Revenue and Margin
Net interest revenue is the difference between what Schwab earns on client balances and what it pays to hold them.
- Net interest revenue grew 19% year over year in the second quarter of 2026 and 7% against the prior quarter.
- Average interest-earning assets for the quarter equaled $445.0 billion, up 5% year over year.
- Client transactional sweep cash balances ended June at $485.7 billion, an increase of $24.2 billion versus the prior quarter-end.
That repricing gap, not balance growth, is what moved the margin.
Daily Average Trades and Trading Economics
Trade volume grew by more than half over the reporting year while the revenue Schwab collects per trade went the other way.
- Daily average trading volume reached a record 11.9 million, up 57% versus the second quarter of 2025.
- In the fourth quarter of 2025, the figure was 8.3 million.
- Revenue per trade equaled $1.64 against $2.03 a year earlier.
- That is a decline of roughly 19% year over year.
Volume is carrying that line entirely, the durable consequence of pricing equities at zero and monetizing order flow, options and margin instead.
Why revenue per trade keeps falling: Schwab calculates the figure as trading revenue divided by daily average trades multiplied by the number of trading days. The second quarter of 2026 carried 62.0 trading days. A rising share of low-revenue equity trades pulls the average down even when total trading revenue climbs.
Margin Loan Balances and Client Leverage
Margin debt is the fastest-moving number in Schwab’s monthly disclosure.
- Client margin loan balances finished July 2026 at $169.9 billion, up 51% from year-end.
- At year-end 2025, that balance stood at $112.3 billion.
- Margin loan balances increased 30% quarter over quarter to $165.1 billion at quarter-end.
- Margin balances grew roughly 4.8 times as fast as total client assets over the twelve months to July 2026.
Leverage growing at nearly five times the rate of the collateral pool behind it is a cyclical signal, and historically a late-cycle one.
Margin borrowing amplifies losses as well as gains: A margin loan is secured by the securities in the account, and a decline in those securities can trigger a margin call requiring additional cash or the sale of holdings, potentially at a loss. Schwab separately reported margin loan debits and short cash credits of $42.1 billion and $43.7 billion, respectively, from registered investment adviser long/short strategies as of June 30, 2026. Nothing here is a recommendation to borrow against a portfolio.
Capital Position and the 2026 Stress Test
Schwab is a savings and loan holding company as well as a broker, so the Federal Reserve stress-tests it.
- The Federal Reserve’s 2026 Comprehensive Capital Analysis and Review covered a nine-quarter horizon beginning December 31, 2025, and ending March 31, 2028 under a supervisory severely adverse scenario.
- Schwab reported a Common Equity Tier 1 ratio of 26.3% as of March 31, 2026, against a regulatory minimum of 4.5% combined with a stress capital buffer of 2.5%.
- The company reported a consolidated Tier 1 Leverage Ratio of 8.9% at the end of the first quarter of 2026, down from 9.3% at year-end 2025.
- Preliminary consolidated Tier 1 Leverage and adjusted Tier 1 Leverage equaled 8.7% and 6.8%, respectively.
| Capital measure | Value | Reporting period |
|---|---|---|
| Common Equity Tier 1 ratio | 26.3% | March 31, 2026 |
| CET1 regulatory minimum | 4.5% | 2026 CCAR |
| Stress capital buffer | 2.5% | 2026 CCAR |
| Consolidated Tier 1 leverage ratio | 8.9% | March 31, 2026 |
| Consolidated Tier 1 leverage ratio, preliminary | 8.7% | June 30, 2026 |
Sources: Charles Schwab CCAR disclosure June 2026; 2Q26 Earnings Release July 2026
Schwab attributed the size of the CET1 cushion to the relatively low-risk nature of its balance sheet assets. A CET1 ratio nearly six times the 4.5% regulatory minimum, beside a single-digit leverage ratio, describes a securities balance sheet, not a lending one, so leverage is the binding constraint.
Full-Year 2025 Results and the 2026 Run Rate
Every quarterly comparison runs against the prior full year.
- Schwab reported record revenue of $23.9 billion for 2025, up 22% versus the prior year.
- The company returned $11.8 billion to shareholders across all forms during the year.
- GAAP diluted earnings per share reached $4.65 for full-year 2025, up 56%.
- Total client assets closed the year at a record $11.90 trillion, up 18% year over year.
| Measure | 2024 | 2025 |
|---|---|---|
| Total net revenues ($ millions) | 19,606 | 23,921 |
| Net income ($ millions) | 5,942 | 8,852 |
| Net interest revenue ($ millions) | 9,144 | 11,750 |
| Trading revenue ($ millions) | 3,264 | 3,921 |
| Asset management fees ($ millions) | 5,716 | 6,506 |
| Diluted earnings per share (GAAP) | $2.99 | $4.65 |
Source: The Charles Schwab Corporation, 4Q25 and Full Year 2025 Earnings Release, January 2026
Client assets have added roughly $1.18 trillion in the six months since that year-end mark. Falling interest expense on a broadly flat interest revenue line did much of the work in 2025, and that particular lever only pulls once.
Who’s bigger, Charles Schwab or Fidelity?
Only one of these two firms reports on a public cadence, so they cannot be ranked from primary sources on the same basis. Schwab disclosed $13.08 trillion in total client assets as of June 30, 2026. Fidelity Investments states that it has been privately held since its founding in 1946, and it publishes no quarterly earnings release carrying an equivalent client-asset figure.
A head-to-head number quoted elsewhere compares a filed figure against a company statement on a different definition and date, which is not a comparison. Schwab’s position against a listed peer is measurable, and that is the ground covered in Robinhood and Schwab platform comparison data.
What is the downside to Charles Schwab?
Three lines in Schwab’s own disclosure run against the headline growth. Revenue per trade fell to $1.64 in the second quarter of 2026 from $2.03 a year earlier. Bank deposit account balances declined roughly 14% year over year.
Transactional sweep cash declined by $8.9 billion to end July at $476.8 billion, reflecting client net purchasing activity as well as typical seasonality related to advisory fee payments. They hit different lines: only the sweep-cash decline touches the interest-earning balance sheet that supplies close to half of revenue, and none of the three sits under Schwab’s direct control. Nothing here is investment advice, and none of these figures forecasts the share price.
Where does Charles Schwab rank among brokerages?
Charles Schwab statistics include no self-published industry ranking, so a scale statement is the honest answer. The company describes itself as a leading provider of financial services with 39.9 million active brokerage accounts and $13.04 trillion in client assets as of July 31, 2026. Schwab separately reported being recognized as the Best Investing Platform by U.S. News for the 4th consecutive year.
That award is a third-party editorial judgment disclosed by the company itself, not a market-share measurement. The asset and account figures above are the measurable part.
Conclusion
Charles Schwab ended the second quarter of 2026 with $13.08 trillion in client assets and 48.0 million total client accounts, on record quarterly net revenues of $7.1 billion, up 21% year over year. The composition underneath is what changed. Net interest revenue supplies close to half the top line, banking accounts outgrow brokerage accounts two to one, and revenue per trade falls as trade counts set highs. Schwab earns like a bank and grows like a custodian.
Two lines are worth tracking from here. Margin balances have grown nearly five times faster than the assets behind them, the clearest cyclical signal in the disclosure. And the crypto desk will register in daily average trades long before it registers in client assets, so the trading line is where that bet gets settled.
