(Bloomberg) -- Americans are allocating a smaller share of their spending to investment-related fees since the recession, a sign they are still wary of returning to financial markets even as stocks trade near record highs.

Spending on expenses including securities commissions, investment advice and custodial services totaled about $150.8 billion in February at a seasonally-adjusted annual rate, Commerce Department data show. That accounted for 1.3 percent of total personal consumption, matching the average since the 18- month recession ended in June 2009, compared with 1.6 percent in the 12 months before the downturn started. March figures are scheduled to be released April 29.

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