Pension funds and mutual funds are some of the largest crowd funded entities on the planet. The former lacks transparency and has too many middlemen, and the later is far more limited in it mandate and typically is restricted to public markets.

If congress wants to bring small non-accredited investors into the private markets and increase access to capital for small companies, there needs to be mechanisms in place to do it as a pool vehicle that invests in one or more underlying companies managed by a platform because companies don't want to disclose IP, not deal with a lot of small investors.

Moreover, the regulatory, compliance, and accounting overhead single investor needs to be very low (sub $100). Any broker-dealer model will carry a significant tax unless the SEC/FINRA lighten the regulatory burden for broker-dealers (which is very high).