Total client assets reached $9.12 trillion at the end of Q1 2024, a 20% increase compared to March 31, 2023, driven by organic asset gathering and equity market gains.

The company attracted $95.6 billion in core net new client assets, reflecting expected asset attrition from the Ameritrade integration, although attrition was below anticipated levels.

Clients continued to reallocate cash from sweep products to higher-yielding investment solutions, impacting average balances of bank deposits and payables to brokerage clients.

The company has made significant progress in the integration of Ameritrade, with the final client transitions expected to be completed in May 2024, and has achieved over 80% of its cost synergy target.

In addition to Ameritrade integration synergies, the company took actions to streamline operations, realizing approximately $500 million in incremental run-rate cost savings, primarily related to employee compensation and facility exit costs.

The company expects to realize the remaining estimated cost synergies from the Ameritrade integration by the end of 2024, with full year synergy realization beginning in 2025.

The U.S. Department of Labor adopted a final rule that significantly broadens the definition of "fiduciary" under the Employee Retirement Income Security Act of 1974, which may impact the company's business.

The company is exposed to market risk primarily from changes in interest rates, with potential impacts on net interest margin, revenue, and the economic value of equity.

Client cash allocations are sensitive to interest rate levels, with clients typically increasing their utilization of investment cash solutions when those yields are higher than those of cash sweep features, impacting the company's funding sources.

The company's active brokerage accounts rose 3% year-over-year to 35.3 million at the end of Q1 2024, indicating continued growth in its customer base.

Clients opened 1.1 million new brokerage accounts in the first quarter of 2024, suggesting continued client acquisition despite competitive pressures.

Trading revenue declined 8% year-over-year to $817 million in Q1 2024, primarily due to a decrease in order flow revenue, reflecting narrower spreads on options and lower equity volume.

Total expenses excluding interest decreased by 2% year-over-year, reflecting the benefits of cost reduction restructuring efforts undertaken in late 2023.

Compensation and benefits expense decreased in Q1 2024 compared to Q1 2023, primarily due to lower headcount as a result of position eliminations completed in the second half of 2023.

Occupancy and equipment expenses decreased in Q1 2024 compared to Q1 2023, primarily due to lower technology equipment and software costs, as well as lower occupancy costs as a result of facility closures in 2023.

Depreciation and amortization expense increased in the first quarter of 2024, primarily as a result of higher amortization of purchased and internally developed software, driven by capital expenditures to support the Ameritrade integration and enhance technological infrastructure.

Capital expenditures decreased for the first quarter of 2024 compared to the same period in 2023, primarily due to lower purchased and internally developed software as the company approaches the completion of the Ameritrade integration.

Depreciation and amortization expense increased due to capital expenditures to support the Ameritrade integration and enhance technological infrastructure to support growth of the business.

The company's share repurchase authorization remains at $15 billion, with approximately $8.7 billion remaining on the authorization as of March 31, 2024.

There were no repurchases of CSC's common stock during the three months ended March 31, 2024, while 37 million shares were repurchased for $2.8 billion during the same period last year.

The company is prioritizing repayment of supplemental funding sources, including brokered CDs, Federal Home Loan Bank borrowings, and borrowings under repurchase agreements, which decreased by $8.8 billion during Q1 2024.

The provided 10-Q filing does not contain any specific information regarding ESG initiatives, environmental commitments, social responsibility initiatives, or governance practices.

Improvements in the macroeconomic environment helped bolster investor sentiment and engagement in the first quarter of 2024, with equity markets having a strong start to the year.

Inflation remained at moderate though persistent levels during the quarter, leading to shifting market expectations around the pace and extent of potential Federal Reserve interest rate reductions.

The SEC adopted amendments to Rule 605 of Regulation National Market System (NMS) requiring enhanced disclosures of order execution quality for large broker-dealers that handle retail orders.