Envestnet partners with iconik for personalized proxy voting

Envestnet partners with iconik for personalized proxy voting
'Advisors in the Envestnet ecosystem will have access to set-and-forget voting technology,' says iconik's Alex Thaler.
SEP 18, 2023
By  Josh Welsh

Proxy voting for investors is about to become a whole lot easier.

Envestnet and iconik, a voting technology provider, announced Monday they're teaming up to provide enhanced proxy voting solutions for those using Envestnet’s Sustainable Quantitative Portfolios.

The firms say the move, which comes after an increase in investor demand, will not only help advisors increase retention and wallet share but also personalize the client experience.

With iconik’s VoteForge engine, investors can create customized voting profiles tailored to their values, preferences and priorities. It also helps resolve operational hurdles related to proxy voting.

Alex Thaler, co-founder and CEO of iconic, said Envestnet offers the right tools for advisors to stay competitive.

"Through this partnership, advisors in the Envestnet ecosystem will have access to set-and-forget voting technology that uniquely connects clients' deeply held values with their investments,” Thaler said in a statement.

Brandon Thomas, co-founder and co-CIO at Envestnet, said VoteForge simplifies the process of voting proxies on issues that matter most to clients.

“We continue to hear about the democratization of proxy voting as an important development in the industry,” Thomas said in the statement. “Bringing this capability to advisors is the latest way we are helping them strengthen and customize the client experience.”

Iconik said its shareholder voting service offers an iterative process that advisors and clients can use to refine voting profiles to reflect individual investor views. Advisors can report on key ballot items and then access the outcomes through a dashboard, where relevant voting metrics can be seen.

To strengthen client engagement, voting results can also be shared with the relevant clients.

Kiley Miller, Envestnet’s principal director of sustainable investing, said the tool will allow investors to make their voices heard.

“It will establish and expand relationships with new and existing clients,” Miller said. “Through the innovative technology that iconik delivers, advisors and their clients not only have easier and more efficient access to voting, but investors are able to also play a more active role in the capital markets and connect more deeply to the companies in which they are invested."

How advisors can boost their businesses by becoming macro specialists

Latest News

Retirement plan balances are flourishing. Why are so many advisors missing out on a $3 trillion opportunity?
Retirement plan balances are flourishing. Why are so many advisors missing out on a $3 trillion opportunity?

Participants who receive professional 401(k) advice see higher returns on average, net, than those who don't.

Should RIAs brace for a pullback in deal valuations?
Should RIAs brace for a pullback in deal valuations?

Eric Leeper of FP Transitions offers fresh perspective on M&A deals, why buyers are getting more discerning, and how would-be sellers can boost their practice value.

Wealth Enhancement, Alphacore ink new RIA partnerships
Wealth Enhancement, Alphacore ink new RIA partnerships

Wealth Enhancement is tapping into new markets nationwide as AlphaCore accelerates plans to form one of California's largest RIAs.

Fund fees continue long-term slide as investors favor lower-cost options
Fund fees continue long-term slide as investors favor lower-cost options

Industry report details decades-long trends in expense ratios, 2024 fee movements, and how shifts in advisor compensation have played a role.

LPL Financial’s new CEO Steinmeier gets pay bump but lags Wall Street rivals
LPL Financial’s new CEO Steinmeier gets pay bump but lags Wall Street rivals

But one industry executive believes his pay could catch up over time.

SPONSORED Retirement plan balances are flourishing. Why are so many advisors missing out on a $3 trillion opportunity?

Participants who receive professional 401(k) advice see higher returns on average, net, than those who don't.

SPONSORED Focus on clients, not compliance – why Gary Corderman found his fit with Farther

This wealth management platform finally delivers on the technology promises other firms couldn't - giving advisors a better way to scale and serve