The small investor is getting a new voice. Securities officials from several states have set up a new group, the National Council of Individual Investors.
The council, based in Washington, will lobby legislators and put pressure on the financial services industry.It plans to support changes like paying brokers not by commission but by the performance of the investments they recommend.
There are now two large investor groups, but neither lobbies as the council plans to do. The American Association of Individual Investors helps investors make better decisions. The National Association of Investors Corp. represents some of the nation’s investment clubs.
Council members will pay $49 a year and receive a newsletter, access to a help line and other services. Call 202-467-6244. It also has a site on the World Wide Web–http://www.ncii.org/ncii.
