NEW YORK: Independent Research Group (IRG), a wholly owned subsidiary of financial news website TheStreet.com, has hired Marx Communications and Sprung PR as a joint team to promote IRG's new independent stock research.
IRG is one of a series of entrants into the so-called independent-research space, which has seen an influx of participants as reports of conflicts of interest at many of Wall Street's top firms have called into question the value of the stock research that the Street peddles to
IRG is Sprung and Marx's, second independent-research client in the last year. The team also promoted the research of a consortium of boutiques that marketed their product under the name Best Independent Research (BIR).
Sprung and Marx said that its work for BIR will not conflict with its work for IRG because BIR targeted its research to individual investors, while IRG targets institutional investors.