“One thing we remain very confident about is our outlook through the cycle. Confident in our long-term financial formula, which, those of you who followed the company for a while, recall as high single-digit to low double-digit client asset growth, including 5% to 7% organic growth, leading to a similar level of revenue growth.”

How to check this claim

Look at: Client asset growth rate and net new asset (organic) growth rate, annualized over the long-term cycle

It came true if: Client asset growth 8%-12% annually AND organic (net new asset) growth 5%-7% annually, measured as multi-year average through the cycle

Where: Company-disclosed client assets and net new assets (quarterly earnings releases / 10-K)

Verify independently

SEC filings for SCHW ↗ · Claim quote is verbatim from the 2022Q2 earnings call.