Vanguard pioneers direct proxy voting with Broadridge's new system
Vanguard has become the first major asset manager to integrate Broadridge's Pass-Through Voting into its proxy-voting system. The move allows tens of millions of individual investors to select or update their voting preferences while casting direct proxies. This change aims to boost shareholder participation ahead of the upcoming proxy season.
The new capability is part of Vanguard's Investor Choice programme. Eligible investors can now review and set their preferred voting policies immediately after completing their proxy ballot on Broadridge's ProxyVote platform. Previously, this process required separate steps, making participation less convenient.
Broadridge's Pass-Through Voting solution is already available to shareholders in over 600 funds, covering more than $8 trillion in assets. The enhancement simplifies voting for investors holding Vanguard funds on third-party brokerage platforms. No other major asset manager has announced similar integration for the 2026 proxy season, leaving Vanguard as the sole adopter so far.
Broadridge's upgrade to ProxyVote is designed to help the wider asset management industry. The improved system makes it easier for firms to implement and expand Pass-Through Voting programmes. More asset managers are expected to follow Vanguard's lead after the current proxy season, potentially reaching millions of additional investors globally.
The integration allows investors to manage voting preferences in a single workflow. This streamlined approach could encourage broader engagement in corporate governance decisions. The change also sets a precedent for other firms considering similar updates to their proxy-voting systems.
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