A new Schwab report on self-directed brokerage accounts within 401(k) plans indicate that active traders have done well in the past year.
Michael Nagle | Bloomberg | Getty Imageson self-directed brokerage accounts within 401 plans indicate that active traders have done well in the past year.
The average account balance in the Schwab Personal Choice Retirement Account at the June was up by 22%, to $348,183 from $285,616 a year ago. The report includes data collected from approximately 174,000 retirement plan participants with balances between $5,000 and $10 million. While brokerage accounts are normally associated with active traders, the average Schwab trader isn't exactly a rabid day trader. The average account made 13.8 trades in Q2, about one trade a week, down from 19.6 in the first quarter.They're spreading out their investments as well. Some held stocks directly, but half also held mutual funds and ETFs, and a high percentage of the money was held in cash, possibly because money is being direct deposited and waiting to be allocated.
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