Are you concerned about the potential banking crisis?  We are happy to announce that Schwab, our custodian for the majority of our investment accounts, is in great shape and is growing!

Schwab Reports Monthly Activity Highlights


WESTLAKE, Texas–(BUSINESS WIRE)– The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of April 2023 include:

  • Total net new assets brought to the company by new and existing clients in April 2023 totaled $13.6 billion, while core net new assets equaled negative $2.3 billion. These flows reflect client cash disbursements during tax season.
  • Total client assets were $7.63 trillion as of month-end April, up 5% from April 2022 and up 1% compared to March 2023.
  • Active brokerage accounts reached 34.2 million in April, up 1% from April 2022 and flat compared to March 2023.

Commentary from the CFO

Chief Financial Officer Peter Crawford commented, “As previously noted in my commentary published on May 5, 2023, April marked the third consecutive month of deceleration in the daily average pace of cash realignment within bank sweep deposits and Bank Deposit Account (BDA) balances. This trend has continued into May, with the month-to-date pace improving nearly 50% versus April. We remain confident that client cash realignment activity will abate during 2023 – helping client cash on the balance sheet resume growing in proportion with the growth in total client assets over time.”

Read the entire article: