Investing site quite a draw
- By Dan Caterinicchia, Dan Caterinicchia
- Mar 21, 2000
Washington state officials knew there was a need for an Internet guide aimed
at beginning online investors.
But they had no idea just how big that need was.
Washington launched the Investing Online Resource Center last November
without spending a dime to advertise it.
In its first 10 weeks, the IORC (www.investingonline.org) logged five
million hits, said the site's founder, Deborah Bortner.
"Clearly, we underestimated the extent to which current and potential
online investors were desperate for high-quality, non-commercial information
about the basics of investing on the Web," said Bortner, director of Washington's
Department of Financial Institutions Securities Division, which is running
The IORC site features basic online trading information, a ranking of
online brokerage firms and an online investing resource center that lists
helpful World Wide Web sites.
Bortner originally recruited 20 online brokerage firms to provide a
link to the site in November, but that number has since jumped to 30 that
include either a direct link or a prominent back page to the IORC site.
"We realized that people from all over the country would be using our
site, but we're getting many international users as well," Bortner said
in a release. "Our goal with IORC was to put the investor education information
right in front of people's noses when they most needed it when they're
thinking about doing business with an online broker."
The IORC site is funded through Investor Protection Trust, a non-profit
that serves the dual goals of serving as an independent source of investor
education materials and helping to prosecute securities fraud.