Our Mission

In 1950, retail investors directly owned more than 90 percent of the stocks issued by U.S. companies. Today, that number is closer to 30 percent, with securities markets these days increasingly being dominated by big, institutional and often passive holders.

Of course, on balance, the rise of passive investing, which is designed to track the performance of an index as opposed to trying to beat it, has been great for the retail investing community, generating steady, low-fee returns for millions of Americans.

But as the size and influence of these massive institutional holders has grown, so too has their power, influence and share of voice – drowning out the voices and interests of Main Street investors who, despite controlling the single largest pool of equity capital in the world, have almost no ability today to influence the decisions these funds make on their behalf, with their money.

The Main Street Investors Coalition was created to help change that. By doing so, it will help mitigate the agency costs created by U.S. stock markets that have come to be dominated by institutional investors. Stand with us as we seek to bring much-needed reform to a badly broken, costly and inherently unfair system.

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Main Street investors hold more than $16.9 trillion in stocks. That means we control the single largest pool of equity capital in the world. It’s time for our voices to be heard, and our agenda to be adopted.

Sign up to add your voice to the campaign.

A COMMONSENSE AGENDA

  • Demanding that fund managers focus on maximizing performance – not playing politics with other people’s money

  • Providing retail investors with more visibility into how the funds they own vote on their behalf

  • Forcing third-party, “black-box” proxy-advisory firms to be more transparent about potential conflicts of interest

  • Insisting that public pension funds meet the same basic regulatory and reporting standards as private pension funds

Main Street Investors’ Manifesto

The Latest

July 3, 2019 | Main Street Coalition

ISS Attempts to Discount Concerns on Proxy Advisory Firms with New Myth v. Fact Sheet

Institutional Shareholder Services (ISS) recently released a myth vs. fact summary aimed at downplaying concerns over the lack of regulatory oversight on the industry, following the recent announcement that the Securities and Exchange Commission (SEC) intends to propose a rule regulating proxy advisors this year. Here we explore the “facts” presented by ISS, many of ...

June 21, 2019 | Main Street Coalition

New Paper from Milken Institute Details Inherent Problems in Proxy Advisory Firms

Last week, nonpartisan think tank Milken Institute published a paper exploring the rise, impact, and implications of proxy advisors and how reforms could help improve the system.  Author Chester S. Spatt, a former chief economist of the Securities and Exchange Commission, writes that proxy advisory firms arose from a desire to address market failures in ...

June 20, 2019 | Main Street Coalition

ESG: The “Scarlet Letter” of Corporate America

This week, the American Enterprise Institute held a panel discussing environmental, social, and governance (ESG) investing as a means to drive social policy goals.  Securities and Exchange Commissioner Hester Pierce gave the opening remarks, beginning with a metaphor to the famous story of “The Scarlet Letter.” “Here too, we see labeling based on incomplete information, ...

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