Stewardship tech firms expand shareholder voting to retail investors
UK stewardship tech firm Tumelo and BetaNXT, a technology provider for the wealth management sector, have joined forces to help brokers and asset managers extend voting choice to retail clients in the US, UK and Europe.
The new service combines Tumelo’s ProxySphere voting choice technology with BetaNXT’s proxy and investor communications network.
Through the system, asset managers can approach beneficial owners in their funds via a direct email campaign. Investors receive an invitation to take part and select a voting policy on Tumelo’s platform. Their choice is securely stored for future meetings. Once ballots are published, votes are cast in line with each investor’s chosen policy and each vote is recorded.
According to the firms, the aim is to widen participation and provide a clearer link between investor preferences and stewardship activity. Tumelo said the collaboration is designed to give investors greater influence over how their assets are used in corporate engagement, while BetaNXT described it as a way for firms to strengthen client trust and respond to rising demand for investor involvement.
