Schwab’s Total Client Assets Climb to $12.61 Trillion, Margin Balances Hit Record $136 Billion

Record Client Engagement and Asset Growth Mark April 2026 Highlights

Charles Schwab reported strong business momentum in its April 2026 monthly update, driven by client engagement in equity and ETF trading. Despite the usual hit from seasonal tax outflows, Schwab’s total client assets at month-end reached a remarkable $12.61 trillion, marking a 27% increase from the prior year and a 7% rise from March. Margin loan balances also set a new record, jumping to $136 billion. These numbers highlight an environment where more investors are active, trading has intensified, and overall portfolio values are substantially higher.

April Sees $7.2 Billion in Core Net New Assets Despite Tax Season Outflows

Core net new assets totaled $7.2 billion in April. While this figure is muted compared to prior months due to seasonal tax disbursements—a typical trend for Schwab each spring—it underscores resilience, especially when viewed against the backdrop of record-high client assets. The consistent flow of new assets demonstrates ongoing client trust in Schwab’s platform.

Daily Average Trades and Margin Activity Reach All-Time Highs

April’s trading activity was a standout, with daily average trades hitting a record 10.3 million—up 24% from the previous year. Derivative trades accounted for 21.4% of this activity, a modest uptick over the past year, signaling ongoing participation not just from long-term investors but also from traders and more sophisticated strategies. At the same time, margin loan balances soared 78% year-over-year to $136 billion, with $29.6 billion specifically tied to long/short investor strategies. This rise highlights the growing willingness of clients to employ leverage, with the potential to amplify returns and risks.

Client and Account Growth Remain Steady

Schwab’s growth story extended beyond assets into client accounts. The firm added 437,000 new brokerage accounts in April—flat year-over-year but notable in absolute scale. Schwab now serves 39.3 million active brokerage accounts, 2.3 million banking accounts, and 5.9 million workplace plan participant accounts. Both banking and brokerage accounts grew 1% month-over-month and 5-12% year-over-year, reflecting a steady stream of new clients.

Interest-Earning Assets Edge Higher; Engagement in Advisory and Cash Solutions Improves

Average interest-earning assets on Schwab’s balance sheet rose 2% for the month to $444.6 billion and were up 3% over April 2025. The number of accounts receiving ongoing advisory services also rose, with both Investor Services and Advisor Services notching 6% and 27% annual growth respectively. Client cash as a percentage of total assets dipped slightly to 9.2%, suggesting cash is being steadily deployed into the markets or other investments.

At a Glance: Key Schwab Metrics for April 2026

What Does This Mean for Investors?

Schwab’s April results signal a firm operating on all cylinders: record trading activity, surging margin use, and steadily expanding client portfolios despite the drag of tax season. These dynamics point to robust investor confidence and greater willingness to engage in a variety of market strategies, further supported by Schwab’s institutional investment event today. For those watching the evolution of retail and institutional participation in financial markets, April’s numbers serve as a benchmark for continued industry transformation and competition.

For more details or to register for Schwab’s Institutional Investor Day, visit aboutschwab.com/schwabevents.

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