The traditional method of purchasing stock is to use investment brokers, who provide advice to investors and generate fee revenues through both purchase and sale of securities. Modern direct purchase of shares began in 1973, when AT&T started selling shares to individual investors. Currently, approximately 900 listed stocks in the U.S. can be purchased directly from the issuing company. Over the last year, First Chicago Trust Company has developed a model direct investment program, approved by the S.E.C., that allows companies to quickly and easily get set up for direct sales.Investors benefit from direct stock purchase because they pay no brokerage fees. In addition, some companies offer discounts and attractive terms such as fractional share purchases and automatic debit investment when investors buy direct.