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Can't Finance Equity Research After MiFID? Try Crowdfunding

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Can’t get enough investors to pay for your stock coverage? An independent research house is giving crowdfunding a try as it adapts to the new world of MiFID II.

French firm AlphaValue SA is introducing a model in late September where it names a stock, lists how much it will charge to provide research and invites a number of investors to co-finance the cost, head of marketing Maxime Mathon said in an interview. It aims to raise about 15,000 euros ($17,400) to 20,000 euros for providing a year’s coverage on a stock.