Brokerage Accounts in the United States

This document is about an analysis of the extent to which American households have brokerage accounts, use advice from brokers, and related issues. The analysis is based on data from the Survey of Consumer Finances (SCF), a household survey. It finds that the number of households with a brokerage account has declined over time, from over 19 million in 2001 to approximately 17 million in 2013. While some households actively traded through their brokerage account, 65% traded at most three times in the year before the survey interview. The role of brokers in providing investment advice also appears to have diminished over time, with 27% of households with brokerage accounts reporting using broker advice in 2013, down from 35% in 2001. The document also provides details on the asset holdings of households with brokerage accounts.