Charles Schwab statistics: the 2024 snapshot
Charles Schwab’s 2024 numbers show a business with scale across brokerage, banking, and asset gathering. The year combined stronger profitability, continued client-asset growth, and a large revenue base that still leaned heavily on interest income and fee streams.
Table of contents
- Fast facts
- Big revenue and profit numbers
- Client assets and account growth
- Product mix and balance sheet signals
- What the operating metrics say
- Revenue and expense structure
- A closer look at asset categories
- Why these statistics matter
Fast facts
Big number: Charles Schwab reported $19.606 billion in 2024 net revenues, up 4% from 2023 (2024 Annual Report - Financial Highlights).
Profitability: Net income available to common stockholders reached $5.478 billion, up 18% from 2023 (2024 Annual Report - Financial Highlights).
Scale: Schwab ended 2024 with $10.1013 trillion in total client assets and 36.456 million active brokerage accounts at year-end (2024 Annual Report - Growth in Client Assets and Accounts).
Balance sheet signal: Margin loans outstanding were $83.8 billion at year-end 2024, while bank deposit account balances totaled $87.5 billion (2024 Annual Report - Growth in Client Assets and Accounts).
Workforce: Schwab ended 2024 with 32.1 thousand full-time equivalent employees (2024 Annual Report - Financial Highlights).
At a glance
- Revenue rose faster than expenses excluding interest fell, improving operating leverage (2024 Annual Report - Financial Highlights).
- Client assets grew across multiple categories, not just one product line (2024 Annual Report - Growth in Client Assets and Accounts).
- The business still showed a strong mix of brokerage, banking, and funds rather than a single revenue engine (2024 Annual Report - Growth in Client Assets and Accounts; Schwab Reports Fourth Quarter and Full Year Results).
Big revenue and profit numbers
The core 2024 story starts with size and profitability. Schwab reported $19.606 billion in net revenues for 2024, while net income available to common stockholders came in at $5.478 billion (2024 Annual Report - Financial Highlights). Those figures point to a business that remained highly scaled even before looking at the asset base behind it.
The same financial highlight set shows basic earnings per common share of $3.00 and diluted earnings per common share of $2.99, both up 18% from 2023 (2024 Annual Report - Financial Highlights). The consistency between basic and diluted EPS suggests little gap between the two measures in 2024, which is a useful read on share count dilution in the period.
A few related profitability markers help frame the year:
- Pre-tax profit margin: 39.2% (2024 Annual Report - Financial Highlights)
- Return on average common stockholders’ equity: 16% (2024 Annual Report - Financial Highlights)
- Dividends declared per common share: $1.00 (2024 Annual Report - Financial Highlights)
- Weighted-average diluted common shares outstanding: 1.834 billion (2024 Annual Report - Financial Highlights)
Those numbers fit together in a straightforward way. Schwab generated a meaningful earnings pool, paid dividends, and did so with a large share base that still produced a roughly 16% return on average common equity.
Key profitability snapshot
| Metric | 2024 figure | Source label |
|---|---|---|
| Net revenues | $19.606 billion | 2024 Annual Report - Financial Highlights |
| Net income available to common stockholders | $5.478 billion | 2024 Annual Report - Financial Highlights |
| Basic EPS | $3.00 | 2024 Annual Report - Financial Highlights |
| Diluted EPS | $2.99 | 2024 Annual Report - Financial Highlights |
| Pre-tax profit margin | 39.2% | 2024 Annual Report - Financial Highlights |
| Return on average common stockholders’ equity | 16% | 2024 Annual Report - Financial Highlights |
Client assets and account growth
Schwab’s 2024 statistics are especially notable on the asset-gathering side. The company ended the year with $10.1013 trillion in total client assets, which is the cleanest single figure for understanding the scale of the platform (2024 Annual Report - Growth in Client Assets and Accounts).
That total was supported by several major asset buckets:
- Investor Services client assets: $5.7216 trillion (2024 Annual Report - Growth in Client Assets and Accounts)
- Advisor Services client assets: $4.3797 trillion (2024 Annual Report - Growth in Client Assets and Accounts)
- Total net new assets: $361.6 billion in 2024 (2024 Annual Report - Growth in Client Assets and Accounts)
- Net market gains: $1.2231 trillion in 2024 (2024 Annual Report - Growth in Client Assets and Accounts)
- Net growth in client assets: $1.5847 trillion in 2024 (2024 Annual Report - Growth in Client Assets and Accounts)
The split between Investor Services and Advisor Services is useful because it shows the asset base is not concentrated in a single channel. Investor Services held the larger share at $5.7216 trillion, but Advisor Services was still enormous at $4.3797 trillion (2024 Annual Report - Growth in Client Assets and Accounts).
Account growth highlights
- New brokerage accounts were 4.170 million in 2024 (2024 Annual Report - Growth in Client Assets and Accounts).
- Active brokerage accounts were 36.456 million at year-end 2024 (2024 Annual Report - Growth in Client Assets and Accounts).
- Banking accounts were 1.998 million at year-end 2024 (2024 Annual Report - Growth in Client Assets and Accounts).
- Workplace plan participant accounts were 5.399 million at year-end 2024 (2024 Annual Report - Growth in Client Assets and Accounts).
These account counts matter because they show how Schwab’s asset base sits on top of recurring relationships, not just market levels. The company did not simply finish 2024 with a large asset number; it also reported millions of brokerage, banking, and workplace plan relationships that help explain how the platform keeps gathering and holding assets (2024 Annual Report - Growth in Client Assets and Accounts).
Product mix and balance sheet signals
The asset mix in Schwab’s 2024 data is broad enough to deserve its own view. Some categories reflect client preference and product structure, while others hint at balance sheet and market sensitivity.
Asset category comparison
| Category | Year-end 2024 | Source label |
|---|---|---|
| Schwab One, certain cash equivalents and bank deposits | $358.8 billion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Bank deposit account balances | $87.5 billion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Money market fund assets | $596.5 billion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Equity and bond fund and collective trust fund assets | $232.2 billion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Total proprietary mutual fund and collective trust fund assets | $828.7 billion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Mutual Fund OneSource and other non-transaction-fee fund assets | $347.8 billion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Mutual fund clearing services assets | $280.7 billion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Other third-party mutual fund assets | $1.2111 trillion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Total Mutual Fund Marketplace assets | $1.8396 trillion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Total mutual fund assets | $2.6683 trillion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Proprietary ETF assets | $395.0 billion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Other third-party ETF assets | $1.9406 trillion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Total ETF assets | $2.3356 trillion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Equity and other securities assets | $3.9726 trillion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Fixed income securities assets | $762.3 billion | 2024 Annual Report - Growth in Client Assets and Accounts |
| Margin loans outstanding | $83.8 billion | 2024 Annual Report - Growth in Client Assets and Accounts |
A few patterns stand out from that table.
First, third-party assets dominate in several key pooled and fund categories. Other third-party mutual fund assets were $1.2111 trillion, and other third-party ETF assets were $1.9406 trillion (2024 Annual Report - Growth in Client Assets and Accounts). Those are large numbers on their own, and together they show that Schwab’s marketplace model extends far beyond proprietary products.
Second, the company still controls very large proprietary and marketplace pools at the same time. Total proprietary mutual fund and collective trust fund assets were $828.7 billion, while total Mutual Fund Marketplace assets were $1.8396 trillion (2024 Annual Report - Growth in Client Assets and Accounts). That combination suggests the platform serves both in-house and external product demand.
Third, the equity and other securities bucket was the single largest line item in the set at $3.9726 trillion, with fixed income securities at $762.3 billion (2024 Annual Report - Growth in Client Assets and Accounts). That balance matters because it shows the business is tied to a diversified menu of holdings rather than one narrow asset class.
Fast facts on funding and leverage-related items
- Schwab One, certain cash equivalents and bank deposits: $358.8 billion (2024 Annual Report - Growth in Client Assets and Accounts)
- Bank deposit account balances: $87.5 billion (2024 Annual Report - Growth in Client Assets and Accounts)
- Margin loans outstanding: $83.8 billion (2024 Annual Report - Growth in Client Assets and Accounts)
- Money market fund assets: $596.5 billion (2024 Annual Report - Growth in Client Assets and Accounts)
These figures help frame the mix of client cash, balances, and lending exposure embedded in the platform. The numbers are large enough to matter individually, and together they sketch a business where cash-like assets, fund assets, and borrowing relationships all sit side by side.
What the operating metrics say
Schwab’s operating metrics give another view of the 2024 year. The company reported 4.170 million new brokerage accounts, 36.456 million active brokerage accounts, 1.998 million banking accounts, and 5.399 million workplace plan participant accounts at year-end (2024 Annual Report - Growth in Client Assets and Accounts).
In practical terms, that means the platform had multiple recurring entry points:
- Brokerage relationships for trading and investing.
- Banking relationships tied to deposits and cash management.
- Workplace-plan relationships that can feed long-term customer retention.
The earnings release adds another useful lens. In the full-year 2024 results, Schwab reported 34.8 million active brokerage accounts, 5.2 million workplace plan participant accounts, 1.8 million banking accounts, and $8.52 trillion in client assets (Schwab Reports Fourth Quarter and Full Year Results).
The account counts in the earnings release and annual report are not identical, which is a reminder that different reporting contexts can use different definitions or timing. What matters for a statistics article is the direction and scale: both views place the company in the mid-30 millions for active brokerage accounts and in the trillions for client assets (2024 Annual Report - Growth in Client Assets and Accounts; Schwab Reports Fourth Quarter and Full Year Results).
Operating highlights that support the year
- Client assets remained above the $10 trillion mark at year-end 2024 (2024 Annual Report - Growth in Client Assets and Accounts).
- Net growth in client assets was $1.5847 trillion, combining net new assets and market gains (2024 Annual Report - Growth in Client Assets and Accounts).
- Net new assets alone were $361.6 billion, which is a large inflow base even before market performance is counted (2024 Annual Report - Growth in Client Assets and Accounts).
- Employees totaled 32.1 thousand full-time equivalents, showing the staffing base supporting that scale (2024 Annual Report - Financial Highlights).
Revenue and expense structure
A closer look at 2024 revenue composition helps explain how Schwab produced its earnings. In the full-year 2024 earnings release, the company reported $18.837 billion of total net revenues (Schwab Reports Fourth Quarter and Full Year Results). That release also broke out several key contributors:
- Interest revenue: $16.111 billion (Schwab Reports Fourth Quarter and Full Year Results)
- Interest expense: $6.684 billion (Schwab Reports Fourth Quarter and Full Year Results)
- Net interest revenue: $9.427 billion (Schwab Reports Fourth Quarter and Full Year Results)
- Asset management and administration fees: $4.756 billion (Schwab Reports Fourth Quarter and Full Year Results)
- Trading revenue: $3.230 billion (Schwab Reports Fourth Quarter and Full Year Results)
- Bank deposit account fees: $705 million (Schwab Reports Fourth Quarter and Full Year Results)
That mix says a lot. Schwab’s earnings base in 2024 came from a combination of spread income, fee income, and trading-related revenue rather than just one source. Net interest revenue of $9.427 billion was the largest of the listed revenue contributors, but asset management and administration fees at $4.756 billion were also substantial (Schwab Reports Fourth Quarter and Full Year Results).
On the expense side, the earnings release reported:
- Compensation and benefits expense: $6.315 billion (Schwab Reports Fourth Quarter and Full Year Results)
- Professional services expense: $1.058 billion (Schwab Reports Fourth Quarter and Full Year Results)
- Occupancy and equipment expense: $1.254 billion (Schwab Reports Fourth Quarter and Full Year Results)
- Advertising and market development expense: $397 million (Schwab Reports Fourth Quarter and Full Year Results)
- Communications expense: $629 million (Schwab Reports Fourth Quarter and Full Year Results)
- Depreciation and amortization expense: $267 million (Schwab Reports Fourth Quarter and Full Year Results)
Those figures help explain the reported 4% increase in net revenues and the 4% decrease in expenses excluding interest in the annual report highlights (2024 Annual Report - Financial Highlights). The broad takeaway is that revenue rose while non-interest expense pressure eased, which is exactly the kind of combination that can lift profitability in a scaled financial platform.
Source-backed revenue structure summary
- Interest-related income remained the largest single bucket in the earnings release view (Schwab Reports Fourth Quarter and Full Year Results).
- Fee income remained large enough to matter on its own, especially asset management and administration fees at nearly $4.8 billion (Schwab Reports Fourth Quarter and Full Year Results).
- Trading revenue still contributed a multi-billion-dollar line item, showing active client engagement with markets (Schwab Reports Fourth Quarter and Full Year Results).
A closer look at asset categories
The strongest feature of Schwab’s 2024 statistics is not just the total asset count but the breadth of the categories underneath it. Different client behaviors show up in different lines:
- Cash-like balances and deposits appear in Schwab One, certain cash equivalents and bank deposits at $358.8 billion and bank deposit account balances at $87.5 billion (2024 Annual Report - Growth in Client Assets and Accounts).
- Fund exposure appears through money market fund assets at $596.5 billion, total mutual fund assets at $2.6683 trillion, and total ETF assets at $2.3356 trillion (2024 Annual Report - Growth in Client Assets and Accounts).
- Security holdings appear in equity and other securities assets at $3.9726 trillion and fixed income securities assets at $762.3 billion (2024 Annual Report - Growth in Client Assets and Accounts).
- Lending behavior appears in margin loans outstanding of $83.8 billion (2024 Annual Report - Growth in Client Assets and Accounts).
That range matters because it makes the statistics more than a single headline. Schwab is operating across cash management, funds, securities, and lending in the same reporting set. The result is a profile that looks diversified by client behavior, not just by product label.
Most quotable figures from the 2024 dataset
- $10.1013 trillion in total client assets (2024 Annual Report - Growth in Client Assets and Accounts)
- $5.478 billion in net income available to common stockholders (2024 Annual Report - Financial Highlights)
- 36.456 million active brokerage accounts at year-end 2024 (2024 Annual Report - Growth in Client Assets and Accounts)
- $1.5847 trillion in net growth in client assets during 2024 (2024 Annual Report - Growth in Client Assets and Accounts)
- $19.606 billion in net revenues (2024 Annual Report - Financial Highlights)
- 39.2% pre-tax profit margin (2024 Annual Report - Financial Highlights)
Why these statistics matter
Charles Schwab’s 2024 statistics show a business that is both enormous and operationally layered. Revenue, profit, and client assets all moved at a scale that makes the platform meaningful in brokerage, banking, and fund distribution at the same time (2024 Annual Report - Financial Highlights; 2024 Annual Report - Growth in Client Assets and Accounts; Schwab Reports Fourth Quarter and Full Year Results).
The most important read from the data is that Schwab’s year was not driven by one narrow metric. It combined:
- Large revenue and profit totals.
- Strong client-asset growth.
- A broad product mix spanning mutual funds, ETFs, securities, deposits, and lending.
- Millions of client accounts across brokerage, banking, and workplace plans.
For readers comparing financial platforms, the 2024 numbers make one thing clear: Schwab’s scale comes from the interaction of asset gathering, recurring relationships, and a revenue mix that still generates substantial income even as market conditions shift (2024 Annual Report - Financial Highlights; 2024 Annual Report - Growth in Client Assets and Accounts; Schwab Reports Fourth Quarter and Full Year Results).