Broadridge extends proxy vote capabilities to retail investors
“By expanding sophisticated tools, that are currently available to institutional investors to retail investors, including ProxyVote.com and the ProxyVote App, we are making it easier for all investors to learn and participate in the corporate governance process.”
Broadridge Financial Solutions Inc. has enhanced its ProxyVote App to make it easier and more transparent for retail investors to participate in corporate governance and vote their proxies.
The new features help investors to view relevant information more easily and quickly on proxy proposals, preset their voting preferences on topics that matter most to them, see their votes counted as cast, and receive automatic updates on final results.
Making it easier for all investors to learn and participate in the corporate governance process
Swatika Rajaram, Senior Vice President, Head of U.S. Proxy and Post Sale at Broadridge, said: “We surpassed an important milestone with over 16.3 billion shares voted on ProxyVote.com, including mobile and our ProxyVote App, up 64% year over year, representing 22% of total voted shares. Broadridge is committed to enabling better financial lives. By expanding sophisticated tools, that are currently available to institutional investors to retail investors, including ProxyVote.com and the ProxyVote App, we are making it easier for all investors to learn and participate in the corporate governance process.”
With Broadridge, individual investors can now preset voting instructions in advance of shareholder meetings. The ProxyVote App provides an easy way for them to specify how they want to vote on common types of proposals, including elections of directors and say-on-pay, among others. Their preferences are indicated when they receive their ballots. They can easily view proxy information and make changes before they click to cast their vote.
Updates on Meeting Results: The ProxyVote App updates investors with their vote detail during the meeting and with the final vote results once the meeting has concluded.
Vote Confirmation: ProxyVote.com and the ProxyVote App both confirm votes once submitted, providing shareholders with even greater levels of assurance and trust that their votes are counted as cast.
Director and Proposal Deep Links: Shareholders can easily access proxy information, including direct links to Directors up for election or proposals on the agenda. This provides quick access to detailed information for more informed voting.
ProxyVote App Enables Pass-through Voting: There is growing interest by asset managers to receive voting indications from their investors for the underlying equities that make up the investment funds. This is referred to as client directed or “pass-through” voting. The enhancements launched in Broadridge’s ProxyVote App are a foundation for enabling pass-through voting by individual investors.
Ease of Use Through Multiple Platforms: Broadridge is the only proxy service provider to have an app in the market that allows investors to submit their votes and confirm that their vote has been tabulated. The ProxyVote App is available in the Apple App Store and Google Play. Broadridge also provides the flexibility for investors to vote on the platforms of their choosing including broker apps, online via www.proxyvote.com, by phone, mail or virtually at annual meetings.
