Charles Schwab Net New Assets Fall on TD Ameritrade Attrition

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Charles Schwab reported net new assets for August fell to $4.9 billion, a drop the company attributed to temporary attrition of TD Ameritrade clients and advisors.

Net new assets were down from $43.3 billion for the same period a year ago and from $13.7 billion in July, the company said Friday. Schwab’s stock fell 3.4% in premarket trading on the news.


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