eToro with Broadridge Financial Solutions Inc. announced their partnership to enable proxy voting for clients.
Users of the eToro trading platform will be able to participate in the annual general meeting (AGMs) as well as a vote by proxy on mergers, executive salaries, environmental, social, and governance proposals, and other issues.
eToro investors can submit their votes which will be aggregated and shared with Broadridge in the proxy voting process. According to the official announcement, users will have access to proxy voting for shares listed on US exchanges later this month and shares listed on other global exchanges to follow. Additionally, 80% of participants in the survey between the ages of 18 and 34 said they would like to vote at an AGM if given the chance.
CEO and co-founder of the Israeli broker, Yoni Assia, said that in recent years, they have seen an explosion in the number of retail investors. According to him, this group has the potential to have a big influence on financial markets.
"Thanks to our partnership with Broadridge, eToro users can now give their voice in corporate decisions at many of the world's largest companies. This is an immense milestone in the retail investor story and one that could have a lasting impact on the business world," Yoni said.
On another occasion, Martin Koopman as President at Broadridge said that he is excited to support eToro and help them to shape the future of corporate governance through Broadridge’s state-of-the-art proxy voting solutions while empowering clients through a differentiated service proposition.