Investors soon may be able to track analyst stock recommendations and discern whether they are good or bad.

Investable Ltd. tracks analysts’ buy, sell and hold calls on a closed network, says Ben Freischmidt, co-founder of the company. The recommendations will move when the analyst changes job. The company’s software will focus on the average returns of ideas over time.

“It’s struck me how well our industry is paid yet our investment ideas are not benchmarked,” says Freischmidt.

He has approached “every major broker in Australia” to try and get them to register their analysts on his network. Freischmidt declined to discuss how many people have registered as users of the system.

The firm has an Australian Financial Services Licence. Investable will make money through advertising, acting as a recruitment centre, charging for research services that aggregate data, and selling performance certifications.