Since most Street firms agreed, as part of the much-reported global settlement, to separate research from banking, a cottage industry of independent research has formed. Recent estimates say 300 to 400 indie researchers are vying for buy-side business. Some of the product has been iffy and people have long been predicting consolidation, but there is room for innovation. Lawrence Margolis, who founded Gotham Research in 2001, is pushing what he hopes could serve as a viable model. His new website (www.streetbrains.com) will serve as a means through which the buy-side will be able to access relevant research. It's unclear what the revenue model is in detail. But most likely, the firm is counting on the willingness of more funds to pay non-soft dollar fees for research.

For more:
- here's the Investment Dealers' Digest article (for FierceFinance readers)