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                                  SCHEDULE 13D
                    Under the Securities Exchange Act of 1934
                                   (Original)



                         Individual Investor Group, Inc.
                                (Name of Issuer)


                          Common Stock, $.01 par value
                           (Title Class of Securities)


                                    455907105
                                 (CUSIP Number)

                               Wise Partners, L.P.
                               c/o Peter M. Ziemba
                            Graubard Mollen & Miller
                          600 Third Avenue, 31st Floor
                            New York, New York 10016
   (Name, Address and Telephone Number of Person Authorized to Receive Notices
                              and Communications)


                                December 31, 1997
             (Date of Event which Requires Filing of this Statement)





If the filing person has previously  filed a statement on Schedule 13G to report
the  acquisition  which is the subject of this  Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.

Note: Six copies of this statement, including all exhibits, should be filed with
the  Commission.  See Rule  13d-1(a) for other  parties to whom copies are to be
sent.

*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for  any  subsequent   amendment   containing   information  which  would  alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).


                                Page 1 of 7 Pages





                                  SCHEDULE 13D

CUSIP No.   455907105                                     Page 2 of 7 Pages
- ----------------------------                         ---------------------------
- --------------------------------------------------------------------------------
1         NAME OF REPORTING PERSONS
          S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)

                   Wise Partners, L.P.
- --------------------------------------------------------------------------------
2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)* 
                                                                    (a)|_|
                                                                    (b)|_|
- --------------------------------------------------------------------------------
3         SEC USE ONLY

- --------------------------------------------------------------------------------
4         SOURCE OF FUNDS*(See Instructions)

                   BK - Bank Funds
- --------------------------------------------------------------------------------
5         CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
          ITEMS 2(d) OR 2(e)                                     |_|

- --------------------------------------------------------------------------------
6         CITIZENSHIP OR PLACE OF ORGANIZATION

                   State of Delaware
- --------------------------------------------------------------------------------
                    |        7        SOLE VOTING POWER
                    |
                    |                     521,291
         NUMBER OF  |-----------------------------------------------------------
          SHARES    |        8        SHARED VOTING POWER
       BENEFICIALLY |
         OWNED BY   |
           EACH     |-----------------------------------------------------------
         REPORTING  |        9        SOLE DISPOSITIVE POWER
          PERSON    |
           WITH     |                     521,291
                    |-----------------------------------------------------------
                    |        10       SHARED DISPOSITIVE POWER
                    |
                    |
- --------------------------------------------------------------------------------
11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                   521,291
- --------------------------------------------------------------------------------
12       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

- --------------------------------------------------------------------------------
13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                   7.3%
- --------------------------------------------------------------------------------
14        TYPE OF REPORTING PERSON*

                   PN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
          INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
      (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

                                Page 2 of 7 Pages





Item 1.             Securities and Issuer

     The class of equity  securities  to which  this  statement  relates  is the
Common Stock, $.01 par value, of Individual Investor Group, Inc. ("Company"),  a
Delaware  corporation,  whose  principal  executive  offices are located at 1633
Broadway, 38th Floor, New York, New York 10019.


Item 2.             Identity and Background

     This  statement  is filed on  behalf  of Wise  Partners,  L.P.,  a  limited
partnership  organized  and  existing  under the laws of the  State of  Delaware
("Partnership").  The  Partnership's  business  address is c/o Mr.  Jonathan  L.
Steinberg,  1633 Broadway, 38th Floor, New York, New York 10019. The Partnership
is in the  business  of  making  investments  in  privately  and  publicly  held
companies for investment purposes.

     Mr.  Jonathan L. Steinberg is the general partner of the  Partnership.  Mr.
Steinberg's  business  address is 1633 Broadway,  38th Floor, New York, New York
10019.  Mr.  Steinberg's  principal  occupation  is that of the Chief  Executive
Officer  and  Chairman  of the Board of the  Company.  The Company is a Delaware
corporation  engaged  in  the  financial  information  business,  including  the
publication of Individual  Investor,  Special  Situations Report and Ticker, and
providing  investment  management  services to private  investment funds through
wholly-owned subsidiaries. Mr. Steinberg is a citizen of the United States.

     Neither the  Partnership  nor Mr. Jonathan L. Steinberg have been convicted
in  any  criminal   proceeding   (excluding   traffic   violations   or  similar
misdemeanors) during the last five years.

     Neither the  Partnership nor Mr. Jonathan L. Steinberg have been a party to
any  civil  proceeding  of  a  judicial  or  administrative  body  of  competent
jurisdiction resulting in any judgment,  decree or final order enjoining it from
engaging in future violations of, or prohibiting or mandating activities subject
to,  federal or state  securities  laws or finding any violation with respect to
such laws during the last five years.


Item 3.  Source and Amount of Funds or Other Consideration

         The  Partnership  acquired  31,496  shares of Common  Stock on June 30,
1997, and 489,795 shares of Common Stock on December 31, 1997, directly from the
Company,  in  transactions  exempt  from the  registration  requirements  of the
Securities  Act of 1933,  as amended,  pursuant to Section  4(2).  The price per
share paid on June 30, 1997, was $7.93 and on December 31, 1997, was $6.125, the
closing ask price of the Common  Stock as reported by the Nasdaq Stock Market on
the day preceding such dates. The funds used to acquire the Common Stock was the
bank funding described in Item 6.

                               Page 3 of 7 Pages



Item 4.           Purpose of Transactions

         The Partnership  acquired record  ownership of 521,291 shares of Common
Stock as an investment.  Mr. Jonathan L.  Steinberg,  the General Partner of the
Partnership,  is also the Chief Executive Officer and a Director of the Company.
Although Mr. Jonathan  Steinberg in his capacity as the Chief Executive  Officer
of and a Director  of the  Company,  may be  involved  in the  consideration  of
various  proposals  considered  by the Board of Directors  of the  Company,  the
Partnership  has no  present  plans  which  relate  to or would  result  in:  an
extraordinary  corporate  transaction,  such  as  a  merger,  reorganization  or
liquidation,  involving  the  Company  or  any of its  subsidiaries;  a sale  or
transfer  of a  material  amount  of  assets  of  the  Company  or  any  of  its
subsidiaries;  any change in the current board of directors or management of the
Company,  including  any  plans or  proposals  to change  the  number or term of
directors  or to fill any  existing  vacancies  on the board of directors of the
Company; any material change in the present capitalization or dividend policy of
the Company;  any other material  change in the Company's  business or corporate
structure;   changes  in  the   Company's   charter,   by-laws  or   instruments
corresponding  thereto or other  actions  which may impede  the  acquisition  of
control  of the  Company by any  person;  causing a class of  securities  of the
Company to be  delisted  from a national  securities  exchange or to cease to be
authorized  to be quoted in an  inter-dealer  quotation  system of a  registered
national  securities  association;  causing a class of equity  securities of the
Company  becoming  eligible for termination of registration  pursuant to Section
12(g)(4) of the  Securities  and Exchange Act of 1934; or any action  similar to
the above.

         Except to the extent that Mr. Jonathan  Steinberg,  the Chief Executive
Officer and a Director of the Company,  may be involved in the  consideration of
various proposals considered by the Board of Directors of the Company, he has no
present  plans which  relate to or would result in: an  extraordinary  corporate
transaction,  such as a merger,  reorganization  or  liquidation,  involving the
Company or any of its  subsidiaries;  a sale or transfer of a material amount of
assets of the  Company or any of its  subsidiaries;  any  change in the  current
board  of  directors  or  management  of the  Company,  including  any  plans or
proposals  to change the  number or term of  directors  or to fill any  existing
vacancies on the board of directors of the Company;  any material  change in the
present  capitalization  or dividend  policy of the Company;  any other material
change  in  the  Company's  business  or  corporate  structure;  changes  in the
Company's charter, by-laws or instruments corresponding thereto or other actions
which may  impede the  acquisition  of  control  of the  Company by any  person;
causing a class of  securities  of the  Company to be  delisted  from a national
securities exchange or to cease to be authorized to be quoted in an inter-dealer
quotation  system of a registered  national  securities  association;  causing a
class of equity  securities of the Company becoming  eligible for termination of
registration  pursuant to Section 12(g)(4) of the Securities and Exchange Act of
1934; or any action similar to the above.


                                Page 4 of 7 Pages





Item 5.           Interest in Securities of the Issuer

         The  Partnership  is the record owner of 521,291 shares of Common Stock
This represents a beneficial  ownership equal to 7.3% of the outstanding  Common
Stock of the Company.  Mr. Jonathan L. Steinberg,  as the general partner of the
Partnership,  has sole power to vote and  dispose of the above  shares of Common
Stock. Mr. Saul Steinberg,  the father of Mr. Steinberg, is a limited partner of
the  Partnership,  and because of his equity  interest in the  Partnership  as a
limited partner,  he is the only other person known to have the right to receive
dividends or proceeds from the sale of the 521,291  shares of Common Stock owned
of record by the Partnership.

         The Partnership acquired 489,795 shares of Common Stock on December 31,
1997 from the Company in an exempt transaction under the Securities Act of 1933,
as amended,  at a price per share of $6.125, the closing ask price of the Common
Stock as reported by the Nasdaq Stock Market on December 30, 1997.

          Mr.  Jonathan   Steinberg  the  General  Partner  of  the  Partnership
beneficially  owns 1,882,968  shares of Common Stock,  which represents 24.8% of
the outstanding  Common Stock of the Company.  Of the 1,882,968 shares of Common
Stock,  900,010  shares  of Common  Stock  are  owned of record by Mr.  Jonathan
Steinberg, 521,291 shares of Common Stock are owned of record by the Partnership
and are  beneficially  owned by Mr.  Jonathan  Steinberg  and 461,667  shares of
Common  Stock are  subject  to options  currently  exercisable  by Mr.  Jonathan
Steinberg.


Item 6.       Contracts, Agreements, Understandings or Relationship with Respect
              to Securities of Issuer

          On December 30, 1997, the Partnership  entered into a Demand Grid Note
("1997 Note") and Guaranty and Security  Agreement  ("1997 Security  Agreement")
with Republic National Bank of New York ("Republic").  The 1997 Note permits the
Partnership to borrow,  from time to time, an aggregate of $9,000,000.  Interest
is payable on the unpaid principal of the 1997 Note,  monthly, in arrears at the
reference  rate of  Republic,  and the  principal  is  payable  upon  demand  by
Republic.  As partial security for the 1997 Note,  pursuant to the 1997 Security
Agreement,  Mr.  Jonathan L. Steinberg  pledged an aggregate of 55,000 shares of
Common  Stock of the  Company  owned of  record  by him and Mr.  Saul  Steinberg
pledged an aggregate of 500,000  shares of Common Stock of the Company  owned of
record by him. In addition,  under the 1997 Security  Agreement,  Republic would
have the right to foreclose  upon an additional  845,000  shares of Common Stock
owned of record by Mr. Jonathan L. Steinberg and previously  pledged to Republic
by Mr.  Jonathan L. Steinberg  under a Demand Grid Note and  Continuing  General
Security  Agreement,  each dated  December 16,  1994.  In the event of a default
under the 1997 Note and 1997 Security  Agreement,  Republic may exercise all the
voting  rights and foreclose  upon and publicly or privately  sell the shares of
Common Stock of the Company  pledged by Mr.  Jonathan L.  Steinberg and Mr. Saul
Steinberg.  None of the shares of Common Stock of the Company owned of record by
the Partnership are pledged to Republic in respect of the 1997 Note.





                                Page 5 of 7 Pages





Item 7.           Materials to be Filed as Exhibits

                  (10.1)     Stock  Purchase  Agreement,  dated  June 30,  1997,
                             between  the  Company  and  Wise   Partners,   L.P.
                             (Incorporated by reference from Exhibit 10.3 of the
                             Quarterly  Report  on Form  10-QSB  for the  period
                             ended June 30, 1997 of the Company.)

                  (10.2)     Stock Purchase Agreement,  dated December 30, 1997,
                             between  the  Company  and  Wise   Partners,   L.P.
                             (Incorporated  by  reference  from  Exhibit 10.6 of
                             Amendment   No.6  to  the  Schedule  13d  filed  by
                             Jonathan  L.  Steinberg  on  January  13,  1998  in
                             respect of shares of Common Stock of the Company.)

                  (10.3)     Demand Grid Note, dated December 30, 1997,  between
                             Wise Partners,  L.P. and Republic  National Bank of
                             New York.  (Incorporated  by reference from Exhibit
                             10.8 of Amendment No.6 to the Schedule 13d filed by
                             Jonathan  L.  Steinberg  on  January  13,  1998  in
                             respect of shares of Common Stock of the Company.)

                  (10.4)     Guaranty and Security Agreement, dated December 30,
                             1997,  between  Wise  Partners,  L.P.  and Republic
                             National   Bank  of  New  York   (Incorporated   by
                             reference  from Exhibit  10.9 of Amendment  No.6 to
                             the Schedule 13d filed by Jonathan L.  Steinberg on
                             January  13,  1998 in  respect  of shares of Common
                             Stock of the Company.)


                                Page 6 of 7 Pages




                                   SIGNATURES

                  After  reasonable  inquiry and to the best of my knowledge and
belief,  I certify  that the  information  set forth in this  statement is true,
complete and correct.


Dated: January 16, 1998

                                      WISE PARTNERS, L.P.

                                      BY: /S/ Jonathan L. Steinberg
                                         --------------------------------------
                                         Jonathan L. Steinberg, General Partner


                                Page 7 of 7 Pages