04 — The Ecosystem

The platforms, intermediaries, and communities that connect companies to investors

Information flows from companies through dozens of channels before reaching investors. No single platform covers everything. This is a map of the key players — with the data behind each one.

Official Disclosure

Regulated channels for mandatory announcements

RNS (London Stock Exchange)Primary

90%+ market share, ~350k announcements/year. The primary regulatory news service for UK listed companies

InvestegateAggregator

350–400k monthly users, 3.5m page impressions. Default free RNS portal. Acquired by Stockomendation (2023)

Business WirePrimary

Alternative PIP. Berkshire Hathaway subsidiary

PR Newswire (Cision)Primary

Alternative PIP. Part of Cision, widely used for corporate comms

GlobeNewswirePrimary

Alternative PIP. Owned by West/Intrado

Notified (EQS Group)Primary

Alternative PIP. European disclosure platform with UK presence

Modular Finance (MFN)Primary

Sixth FCA-approved PIP. Approved October 2024, the newest entrant

Data & Research Platforms

Tools for analysis, screening, and investment research

TickerData

API-first platform structuring regulatory data with AI analysis

Bloomberg TerminalTerminal

Professional terminal (~$32k/year) with comprehensive data

Refinitiv EikonTerminal

Alternative professional terminal from LSEG

StockopediaRetail

~10,000 paying subscribers. Factor-based screening and analysis for private investors

SharePadRetail

UK-focused charting and fundamental analysis

Simply Wall StRetail

Visual analysis and valuation tools

MorningstarResearch

Fund ratings, research, and data

QuotedDataResearch

Investment trust and closed-end fund research and data

Research & Analysis

Independent and commissioned research providers

Edison GroupCommissioned

50+ analysts, covers hundreds of companies globally. Leading commissioned research provider

Hardman & CoIndependent

Longest-established commissioned research provider. 25+ years average analyst experience

Progressive Equity ResearchCommissioned

Commissioned research for UK small/mid caps

Equity DevelopmentCommissioned

Research and corporate access services

Broker researchBroker

Analyst coverage from investment banks (declining post-MiFID II)

News & Media

Financial journalism and market commentary

Financial TimesBroadsheet

Leading business newspaper with markets coverage

The Times / TelegraphBroadsheet

Business sections covering UK markets

Proactive InvestorsDigital

104 employees, offices in 5 cities. Video interviews and news focused on growth stocks

Vox MarketsDigital

AIM market news with direct company-investor interaction via app

This is MoneyConsumer

Daily Mail's popular personal finance site — mass-market reach

Shares MagazineMagazine

Weekly investment magazine and website

Investors ChronicleMagazine

Long-running investment publication (FT Group)

MoneyWeekMagazine

Weekly investment magazine. Covers UK equities, funds, and macro

Retail Platforms

Where individual investors access markets

London South EastPortal

~18.8m monthly visits, ranked #4 globally in Investing. RNS feeds, prices, and forums

ADVFNPortal

Threads for virtually every UK listed company. Live pricing, Level 2 data, and forums

Hargreaves LansdownBroker

2.02m clients, £172.7bn AUA — UK's #1 retail platform

AJ BellBroker

644k clients, £103.3bn AUA. Fastest-growing incumbent

interactive investorBroker

439k clients, £74bn AUA. Flat-fee platform with research tools

Trading 212App

4.5m clients globally, £25bn+ AUA. Commission-free, fastest-growing by accounts

FreetradeApp

1.6m users, £3.3bn AUA. Acquired by IG Group for £160m

Events & Engagement

Face-to-face and live interaction between companies and investors

Investor SummitConference

Premium London events connecting private investors with companies

Investor Meet CompanyWebinar

Webinar platform for company-investor engagement

PrimaryBidAccess

Gives retail investors access to institutional placings

Mello EventsConference

Large-scale retail investor conferences

Master InvestorConference

Annual show and ongoing investor community

Company AGMsCorporate

Annual meetings where shareholders can engage directly

Capital Markets DaysCorporate

Deep-dive presentations for investors and analysts

Communities & Discussion

Informal channels where investors share information

ShareSocAssociation

UK Individual Shareholders Society with 10,000+ members advocating for individual investor rights

The AICAssociation

Association of Investment Companies, data and education

LSE ForumsForum

Discussion boards on London South East — part of 18.8m monthly visits

ADVFN BoardsForum

Active discussion forums per stock. Thousands of posts daily

Twitter/X FinTwitSocial

Real-time market commentary and discussion

Reddit (UKInvesting)Social

r/UKPersonalFinance has 1.1–1.8m members. Growing equity discussion

Investment podcastsPodcast

Twin Petes, PensionCraft, Merryn Talks Money, and others

IR Services & Advisers

Supporting companies with investor communication

CopiaConsultancy

IR consultancy and technology, builders of Ticker

BuchananAgency

Large financial PR and IR agency

FTI ConsultingAgency

Strategic communications including IR

Maitland/AMOAgency

Financial and corporate communications

Hudson SandlerAgency

Specialist financial communications

InvestorHubPlatform

Digital IR platform for company websites

IrwinPlatform

IR CRM and analytics platform (FactSet company)

The information flow

Information originates from companies, passes through various intermediaries who transform and redistribute it, and eventually reaches investors in fragmented form.

🏢
Companies
~1,660 listed
📡
Disclosure
RNS (90%+ share), PIPs
🔄
Intermediaries
Data, research, media
Institutional
Bloomberg, direct access, commissioned research
Professional
Mixed platforms, some direct access, paid tools
Retail
13.4m accounts, £572bn AUA — fragmented sources, variable quality

The fragmentation is the problem

An investor tracking a portfolio of 20 companies might need to check a dozen different platforms to stay informed. What's said at a conference doesn't automatically appear in a data feed. Research from one provider doesn't integrate with news from another.

This creates friction, information asymmetry, and opportunities for those with better tooling to assemble a complete picture faster than everyone else.