Expert-network firms

As investors flocked to growth stocks in the 1990s, analysts competed to provide information to big clients, such as hedge funds. In 2000, the SEC responded with Reg FD, barring companies from selectively disclosing information.
Soon, an industry of expert-network firms arose to help investors get an information edge. These firms rely on a network of employees and others who sometimes charge $1,000 or more an hour to share information with investors. Many expert-network firms bar consultants from sharing improper information. Some prevent executives from discussing current or past employers, and the information shared often is benign.

The Wall Street Journal, December 17, 2010, p. C2.