Charles Schwab Says TD Ameritrade Attrition Puts a Dent in Asset Flows

Charles Schwab reported that net new asset flows declined in July, a drop the company attributed to a modest amount of attrition of TD Ameritrade clients and advisors.

The slowdown in asset growth, however, was not insignificant. The company’s core net new assets totaled $13.7 billion for July, down from $33.8 billion from June and $31.5 billion for the same month a year ago. 

The…