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.

Learn More

Take Action

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

March 25, 2019 | Main Street Coalition

New Glass Lewis Program Capitalizes on Transparency Concerns

Glass Lewis recently launched a new 2019 pilot program to allow companies and shareholder proposal proponents to review and respond to the advisor’s recommendations. The announcement comes after months of unprecedented scrutiny of proxy advisors from the Securities and Exchange Commission (SEC), Congress, companies and retail investors – all of whom are concerned about companies’ inability to weigh in on recommendations.

March 20, 2019 | Main Street Coalition

Newest SEC Commissioner Raises Critical Questions to the Proxy System

Roisman outlined certain practices within the proxy system that are damaging to the shareholder voting process.  He described how many fund managers are automatically voting in line in line with proxy advisory recommendations (even if these recommendations negatively impact returns), a trend now referred to as “robo-voting”. Roisman also stated that he was concerned about factual errors being used to justify these voting recommendations and noted the potential for conflicts of interest to arise between proxy firms and the firms they provide consulting services to.

March 19, 2019 | Wall Street Journal

Companies Call for Oversight of Firms That Advise Shareholders

Companies want the firms that advise shareholders on proxy proposals to face government oversight of their activities, a wish securities regulators are expected to act on as early as this spring.

view News & Resources   view Blog