Schwab Says Ameritrade Integration Dragged Down Client Inflows

(Bloomberg) — Charles Schwab Corp. said it has been temporarily affected by attrition from clients as it integrates TD Ameritrade, leading to a decline in net new money for the firm last month.

Most Read from Bloomberg

The company had $4.9 billion of total core net new assets in August, a 64% decline from July and 89% from a year earlier, the company said in a statement Friday. Core net new assets excluding Ameritrade brokerage clients equaled $28.1 billion for the month.

Firmwide new money…

Read More