BiggerPockets Money Podcast · Friday, October 23, 2026
Discussing brokerage choices among high net worth respondents, Tad Fallows notes that Fidelity and Schwab lead significantly in both usage and recommendation rates at around 45% usage and 86% recommendations. Fallows attributes their popularity over legacy brokerages like Vanguard to superior user interfaces and digital experiences.
“And really two brokerages stand head and shoulders over everybody else, which is Fidelity and Schwab. Each of them, about 45% of our members use. And again, because a lot of people have multiple accounts. But almost half of people have accounts at both Fidelity and Schwab, and they are very highly recommended. About 86% of people recommend each of those.”