Skip to main content

Charles Schwab Statistics 2024: Assets Under Management (AUM), Number of Users, Revenue, & More

Toni Nasr, CFA, FRM| Updated January 12th, 2024
Charles Schwab Statistics 2024: Assets Under Management (AUM), Number of Users, Revenue, & More 1

Charles Schwab Statistics 2024

Charles Schwab is a renowned financial institution that offers a broad range of financial services, such as investment management, brokerage, and banking services. The company has been providing top-notch financial services and products to its customers for decades. 

This article will present an overview of Charles Schwab’s 2024 statistics, including its Assets Under Management (AUM), number of users, revenue, and more. By examining the latest financial reports, we will explore the company’s growth and expansion to provide a better understanding of its performance over the years.

Whether you are a Charles Schwab investor, a financial enthusiast, or just curious about the company’s market position, this article will provide you with the most up-to-date insights and statistics.


Charles Schwab has a long history dating back to the 1970s when founder Charles R. Schwab launched a discount brokerage service that was innovative and comprehensive, offering a broad range of financial products and services. Since then, the company has grown and expanded its offerings through the acquisition of other financial firms and the introduction of new products and services. The acquisition of TD Ameritrade in 2020 was a significant milestone that made Charles Schwab one of the largest brokers in the world by AUM.

Charles Schwab provides a diverse range of financial products and services to investors of all levels, including brokerage services, advisory services, banking and lending services, retirement planning services, and more. The company has a complex corporate structure, with various subsidiaries such as Charles Schwab & Co., TD Ameritrade, TD Ameritrade Clearing, Charles Schwab Bank, and Charles Schwab Investment Management. Each subsidiary offers different products and services; for instance, Charles Schwab Bank provides banking and lending services, while Charles Schwab Investment Management offers investment management services. 

The company is divided into two main business segments: Investor Services and Advisor Services, which cater to individual investors and independent investment advisors and institutional clients. This structure enables Charles Schwab to serve a broad range of clients with different needs and goals.

Here are some key corporate facts about Charles Schwab:

  • Founded: 1971
  • Headquarters: California, United States
  • IPO date: Sep-1987
  • Sector: Financials
  • Industry: Investment Banking and Brokerage
  • Founders: Charles R. Schwab

Number of employees: 36,000 (Mar 2023)

Charles Schwab Ownership

Charles Schwab is a publicly traded company listed on the New York Stock Exchange (NYSE) under the ticker symbol SCHW, with a market capitalization of over $98 billion. As of September of 2023, Charles Schwab had approximately 1.82 billion shares outstanding.

The company’s ownership structure is comprised of both institutional and individual investors, with the top institutional holders of Charles Schwab’s shares being TD Asset Management, Inc., The Vanguard Group, and BlackRock, Inc., who hold shares of the company through the exchange-traded funds (ETFs) they offer. Additionally, the company’s executive officers and directors hold a significant number of shares.

Charles Schwab Users

Charles Schwab user base grew significantly over the year, driven by its ability to attract new clients and retain existing ones through its diverse range of financial products and services. Additionally, strategic acquisitions such as the acquisition of TD Ameritrade in 2020 have also contributed to the company’s growth in its user base.

The following table shows the number of active client accounts for Charles Schwab from 2006 onwards. The company classifies its client accounts into three categories: active brokerage accounts, banking accounts, and corporate retirement plan participants. Active brokerage accounts are used for trading securities, such as stocks, bonds, and mutual funds, while banking accounts are used for checking and savings accounts, as well as lending and other financial services. Corporate retirement plan participants are individuals who participate in employer-sponsored retirement plans, such as 401(k) plans.

Charles Schwab users per year (after 2006)

Year Active Brokerage Accounts (in Millions) Banking Accounts (in Millions) Corporate Retirement Plan Participants (in Millions)
2006 6.7 0.15 0.54
2007 7.0 0.26 1.2
2008 7.4 0.45 1.4
2009 7.7 0.72 1.5
2010 8.0 0.69 1.5
2011 8.6 0.78 1.5
2012 8.8 0.87 1.6
2013 9.1 0.92 1.3
2014 9.4 0.99 1.4
2015 9.8 1.0 1.5
2016 10.2 1.1 1.5
2017 10.8 1.2 1.6
2018 11.6 1.3 1.7
2019 12.3 1.4 1.7
2020 29.6 1.5 2.1
2021 33.2 1.6 2.2
2022 33.3 1.7 2.4
2023 – 3Q 34.5 1.8 2.5

Source: The Charles Schwab Corporation 10K Filing; 2023 3Q Results

Prior to 2006, Charles Schwab used to report the total number of client accounts without categorizing them into specific types. 

Charles Schwab users per year (prior to 2006)

Year Active Accounts
1993 2.5M+
1994 3.0M+
1995 3.4M+
1996 4.0M+
1997 4.8M+
1998 5.6M+
1999 6.6M+
2000 7.8M+
2001 7.8M+
2002 8.0M+
2003 7.6M+
2004 7.3M+
2005 7.1M+

Source: The Charles Schwab Corporation 10K Filing

If end of year figures were not available, the third quarter data was used for the corresponding year in the above table.

Charles Schwab AUM

Over the years, Charles Schwab experienced a steady increase in its Assets Under Management (AUM). Its client’s assets grew from $95.8 billion in 1993 to over $7.82 trillion in the third quarter of 2023. This growth can be attributed to several factors, such as the company’s well-established brand reputation, diverse investment products and services, and customer-centric approach. The table below details Charles Schwab’s clients’ assets since 1993.

Charles Schwab clients’ assets

Year Total client assets (in USD)
1993 95.8B
1994 122.6B
1995 181.7B
1996 253.2B
1997 353.7B
1998 491.1B
1999 725.2B
2000 768.4B
2001 845.9B
2002 726.8B
2003 876.7B
2004 1.08T
2005 1.20T
2006 1.24T
2007 1.45T
2008 1.14T
2009 1.42T
2010 1.57T
2011 1.68T
2012 1.95T
2013 2.25T
2014 2.46T
2015 2.51T
2016 2.78T
2017 3.36T
2018 3.25T
2019 4.04T
2020 6.69T
2021 8.14T
2022 7.05T
2023 – 3Q 7.82T

Source: The Charles Schwab Corporation 10K Filing; 2023 3Q Results

If end-of-year figures were not available, the third quarter data was used for the corresponding year in the above table.

Charles Schwab Investment Advisory, Inc. users

Charles Schwab Investment Advisory, Inc. is a subsidiary of the Charles Schwab Corporation that provides investment management services to its clients. One of the services it offers is the Robo-advisory service, Schwab Intelligent Portfolios, launched in 2015 and uses algorithms to build, monitor, and rebalance diversified portfolios based on an investor’s stated goals. The table below displays the number of Charles Schwab Investment Advisory users over the years.

Charles Schwab Investment Advisory users per year

Year Users
2012 106.8K+
2013 115.8K+
2014 129.4K+
2015 144.6K+
2016 202.3K+
2017 244.2K+
2018 353.9K+
2019 403.3K+
2020 504.7K+
2021 378.1K+
2022 466.5K+
2023 495.3K+

Source: Charles Schwab Investment Advisory filings, Radient Analytics

Charles Schwab Investment Advisory, Inc. AUM

Charles Schwab Investment Advisory, Inc. has consistently grown its AUM over time, and the introduction of the free Robo-advisory service, Schwab Intelligent Portfolios, further accelerated its growth, making it one of the largest Robo-advisors by AUM. However, in June 2022, the SEC charged Charles Schwab $187 million for failing to disclose that the cash allocation in its clients’ portfolios benefited Schwab Intelligent Portfolios.

Charles Schwab Investment Advisory AUM per year

Year AUM (USD)
2012 13.62B+
2013 15.80B+
2014 19.06B+
2015 21.57B+
2016 25.50B+
2017 31.20B+
2018 68.83B+
2019 70.59B+
2020 89.96B+
2021 53.74B+
2022 70.68B+
2023  66.08B+

Source: SEC Charles Schwab Investment Advisory filings

Charles Schwab Investment Advisory, Inc. average account size

While Charles Schwab Investment Advisory does not publicly disclose the average account size of its users, we can estimate this figure based on available data. As of 2023, the company’s AUM totalled $60.08 billion, and it had over 495,300 accounts, giving an estimated average account size of approximately $133,000.

Charles Schwab Investment Advisory average account size per year

Year Average account size (in USD)
2012 128K+
2013 136K+
2014 147K+
2015 149K+
2016 126K+
2017 128K+
2018 194K+
2019 175K+
2020 178K+
2021 142K+
2022 152K+
2023 133K+

It is important to note that this is an estimated calculation, and may not accurately reflect the real average account size. The actual average account size could be higher or lower, depending on the reporting date and fluctuations in market conditions during the year. Nevertheless, this estimated average account size gives us some insight into the typical account size of a Charles Schwab user.

Charles Schwab revenue and net income

Charles Schwab has exhibited steady growth in both its revenue and net income throughout the years. From 1991 to 2022, the company’s financial performance has reflected market trends, and it has experienced declines during crises and recessions such as the tech bubble, the 2009 financial crisis, and the COVID-19 pandemic. Despite these fluctuations, the company’s revenue and net income have continued to trend upward over the long term.

Charles Schwab revenues and net income

Year Annual revenues (in Millions USD) Net Income (in Millions USD)
1991 570 49
1992 750 81
1993 965 118
1994 1,065 135
1995 1,420 173
1996 1,851 234
1997 2,299 270
1998 2,736 348
1999 3,945 589
2000 5,788 718
2001 4,353 199
2002 4,091 109
2003 4,087 472
2004 4,202 286
2005 4,464 725
2006 4,309 1,227
2007 4,994 2,407
2008 5,150 1,212
2009 4,193 787
2010 4,248 454
2011 4,691 864
2012 4,883 883
2013 5,435 1,010
2014 6,058 1,261
2015 6,380 1,364
2016 7,478 1,746
2017 8,618 2,180
2018 10,132 3,328
2019 10,721 3,526
2020 11,691 3,043
2021 18,520 5,360
2022 20,762 6,635
2023 – First 3 Quarters 14,378 3,723

Source: The Charles Schwab Corporation 10K Filing

It is uncertain if the company plans to go public through an IPO in the near future, as it has not made any official announcements regarding this matter. However, given its steady growth and increasing valuation, an IPO may be possible in the coming years.


Charles Schwab has grown steadily over the years and has established itself as a major player in the financial services market. The growing number of users demonstrates the company’s capacity to adapt to changing market conditions and capitalize on growth opportunities. 

Charles Schwab is currently one of the largest brokers by AUM, and its robo-advisory service, Schwab Intelligent Portfolios, is one of the largest Robo-advisors by AUM. The company is well-positioned to maintain its success in the future as it continues to innovate and expand its offerings.

Other FAQs

Is Charles Schwab safe and insured?

Yes, Charles Schwab is a safe and insured investment company as it is a member of the Securities Investor Protection Corporation (SIPC). This means that customers’ securities and cash held in their Schwab accounts are protected up to $500,000. Additionally, the company provides extra brokerage insurance through an agreement with Lloyd’s of London and other London insurers. 

Is Charles Schwab regulated?

Yes, Charles Schwab is regulated by several government entities, including the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). 

Is Charles Schwab available outside the United States?

Charles Schwab has offices in the United Kingdom and Hong Kong, but its services may be limited in some locations due to regulatory requirements. However, if you’re looking for other options that may be better suited to your needs, you can use our “Help Me Choose” feature, which provides personalized recommendations based on your preferences. Additionally, our comparison table makes it easy to compare the leading investment platforms and find the one that’s right for you.

Toni Nasr, CFA, FRM
Fintech Analyst

Toni is a Fintech Analyst with over 8 years of experience in the financial industry where he worked as a financial control analyst at a regional bank and later conducted independent investment research analysis.