IPA Applauds Introduction of the Informed Investor Access Act

WASHINGTON, July 2, 2026 /PRNewswire/ -- The Institute for Portfolio Alternatives (IPA) today applauded U.S. Rep. Troy Downing for introducing the Informed Investor Access Act, legislation that would modernize the accredited investor framework by creating a new pathway for investors who receive personalized investment advice or recommendations from regulated financial professionals.

Today, accredited investor status is based largely on income and net worth. IPA has long supported updating that standard to better recognize investors who make informed decisions with the help of registered investment advisers and broker-dealers.

"The accredited investor definition has long treated wealth as the primary measure of financial sophistication," said Anya Coverman, President and CEO of the Institute for Portfolio Alternatives. "That approach is outdated and excludes capable investors who make investment decisions with the help of regulated financial professionals. The Informed Investor Access Act offers a better model with a clear, advice-based pathway to private-market opportunities that preserves important investor protections. This is smart, balanced reform that expands access, strengthens investor choice and supports capital formation without lowering the guardrails."

The legislation would allow individuals to qualify as accredited investors when they receive personalized investment advice or recommendations from an SEC-registered investment adviser or broker-dealer in connection with a private-market investment. Those professionals are already subject to investor-protection standards, including fiduciary duty for registered investment advisers and the SEC's Regulation Best Interest for broker-dealers.

The bill also would address a practical barrier that has limited broader use of Rule 506(c) offerings. Rule 506(c) allows private offerings to be publicly marketed, but issuers must take reasonable steps to verify that each purchaser is accredited. By recognizing an advice-based path to accredited investor status, the Informed Investor Access Act would create a clearer framework for investors, issuers and the regulated financial professionals who serve them.

"As someone who has built and run a small business, I know firsthand that one of the biggest barriers to growth is access to capital," said Congressman Troy Downing. "For too long, a rigid accredited investor definition has kept knowledgeable, hardworking Americans on the sidelines. The Informed Investor Access Act modernizes that standard, allowing investors who work with a registered investment adviser or broker-dealer to qualify based on the professional guidance they receive, not just their income or net worth, all while preserving strong investor protections. Opening the door to a wider range of investment opportunities can help more Americans build wealth, support their families and strengthen their financial futures. I'm proud to introduce this commonsense reform, and I thank the Institute for Portfolio Alternatives for its partnership."

"Building wealth should not be reserved only for Americans who are already wealthy," Coverman said. "Congressman Downing's legislation recognizes that responsible access, professional advice and investor protection can work together."

IPA will continue working with Congress to advance policies that responsibly broaden access to alternative investments and support capital formation for growing businesses.

About the Institute for Portfolio Alternatives

The Institute for Portfolio Alternatives (IPA) serves as the leading industry voice for alternative investments. IPA is the preeminent trade organization championing alternatives—including private real estate, private credit, private equity, infrastructure, and other alternative assets. IPA hosts innovative events and conferences, offering world-class networking opportunities and educational resources, while also engaging in impactful advocacy at both federal and state levels.

More information on IPA can be found at www.ipa.com, or follow IPA on LinkedIn.

Media Contact: Erik Rancatore, [email protected], 202-978-2467

SOURCE Institute for Portfolio Alternatives