The Charles Schwab Corporation (SCHW) recorded core net new assets of $190.4 billion in the third quarter of 2026, up 38% from a year earlier, after gathering $119.8 billion in the second quarter. Clients opened 1.2 million new brokerage accounts, bringing total client accounts to 48.6 million. Total client assets rose 15% year over year to $13.33 trillion.

Net interest margin expanded 4 basis points quarter over quarter to 3.04%, following a 12-basis-point expansion to 3.00% in the second quarter. Net interest revenue rose 4% from the prior quarter to $3.48 billion. Average interest-earning assets were $451.5 billion, up 8% versus the third quarter of 2025. Client transactional sweep cash ended September at $492.8 billion, an increase of $7.1 billion versus the prior quarter-end. Schwab said the increase reflected continued demand for long/short strategies and organic growth, partially offset by client asset allocation decisions.

Margin loan balances increased 14% quarter over quarter to $187.9 billion at quarter-end, including $60.7 billion related to long/short strategies, after a 30% quarter-over-quarter increase to $165.1 billion at June quarter-end. Bank loan balances equaled $72.3 billion at September month-end, up 35% year over year.

Trading revenue was $1.16 billion, down 5% from $1.22 billion in the second quarter, while daily average trading volume fell to 10.7 million from a record 11.9 million. Asset management and administration fees were $1.91 billion, up 5% from $1.83 billion. Bank deposit account fees were $345 million. Total net revenues were a record $7.17 billion, up 1% from $7.07 billion in the second quarter.

GAAP diluted earnings were $1.62 a share, up from $1.54 in the second quarter; adjusted earnings were $1.69 a share versus $1.62. GAAP expenses excluding interest were $3.39 billion, essentially unchanged from $3.40 billion in the second quarter. Adjusted expenses were up 9% versus the third quarter of 2025.

Preliminary consolidated Tier 1 Leverage and adjusted Tier 1 Leverage were 8.9% and 7.0%, versus 8.7% and 6.8% in the second quarter. The company repurchased 4.7 million shares for $0.5 billion in the third quarter, versus 11.2 million shares for $1.0 billion in the second quarter.

Schwab announced Single Stock Futures on thinkorswim and plans to expand digital assets in Schwab Crypto, introduced Charley, an AI-powered assistant for U.S. retail clients, and partnered with Anthropic to bring Claude for Financial Advisors to independent RIAs.