Schwab first quarter 2021 earnings


Pedestrians pass in front of a Charles Schwab bank branch in downtown Chicago, Illinois.

Christopher Dilts | Bloomberg | Getty Images

Retail investing behemoth Charles Schwab added more clients in the first three months of 2021 than in all of 2020.

Schwab added a record 3.2 million new clients in the first quarter of 2021.

The firm added about 2.4 million new accounts in all of 2020, which excludes 14.5 million new brokerage accounts from the TD Ameritrade merger and 1.1 million accounts obtained from the sale of USAA’s brokerage portfolio to Schwab in May of last year. 

Schwab said it now operates nearly 32 million brokerage accounts and holds about $7.07 trillion in client assets.

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