Revenue during the quarter grew 16.62 percent to $1,972 million from $1,691 million in the previous year period. Net interest income for the quarter rose 31.45 percent over the prior year period to $907 million. Non-interest income for the quarter rose 6.39 percent over the last year period to $1,065 million.

Chief executive officer Walt Bettinger said, “Schwab achieved truly noteworthy results in 2016 by sustaining our ‘Through Clients’ Eyes’ strategy and working to earn our clients’ trust every day. During the year, from disappointing economic news early on, to the disruption of the Brexit vote, and then through the tumult of the presidential election, clients could trust that Schwab stood ready to help them navigate market volatility, and they made active use of our full-service capabilities. Our financial consultants held planning conversations with approximately 132,000 clients last year, up 18% from 2015. Client assets enrolled in one of our retail advisory solutions and those guided by independent advisors totaled $1.40 trillion at the end of 2016, up 12%. New and existing clients brought $125.5 billion in core net new assets to Schwab during 2016, marking a 5% annual organic growth rate and the 5th consecutive year over $100 billion. Net new assets in our Retail and Advisor Services businesses rose by 10% and 21%, respectively, over the prior year, while Mutual Fund Clearing and Retirement Plan flows slowed due to client turnover. Total client assets at year-end were a record $2.78 trillion, up 11%.