Charles Schwab (SCHW) Q4 2025 earnings summary

2025 Performance Highlights

• Achieved record net new assets of $519.4 billion, a 42% increase year-over-year, and opened 4.7 million new brokerage accounts, up 13% from 2024.

• Total client assets reached $11.90 trillion, an 18% increase year-over-year, with over 46 million client accounts.

• Managed investing net flows grew 36% for the year, and bank lending balances reached an all-time high of $58 billion.

• Total net revenues hit $23.9 billion for the year, with record-adjusted earnings per share of $4.87, up 50% year-over-year.

• Expanded client engagement with 1.9 billion trades, 30 million service calls, and 2.2 billion digital logins, an 18% increase.

Strategic Initiatives and Innovation

• Launched Advisor ProDirect, expanded institutional no-transaction fee mutual fund platform, and entered agreements to acquire Forge and invest in Qapita.

• Rolled out estate analysis tools via Wealth.com and enhanced digital and AI-driven client service capabilities.

• Opened 10 new branches and hired hundreds of financial consultants and wealth advisors.

• Enhanced lending, wealth, and trading offers, leveraging AI for efficiency and client experience.

• Expanded product offerings, including alternative investments and digital assets, and enhanced service through AI-driven tools and expanded trading hours.

Growth Levers and Client Demographics

• Focused on attracting new clients and deepening relationships with existing ones to drive revenue diversification.

• Organic growth rate of core net new assets reached 5.1% in 2025, with 1.1 million new retail households added.

• Average retail client age is now in the 40s, with Gen Z comprising nearly a third of new accounts.

• Significant opportunity remains to increase managed investing and lending penetration among existing clients.

• Received industry recognition for customer service and trust, with improved client promoter scores and multiple awards.