Skip to main content

Shareholder voting – Adviser Platforms

The AIC has asked the lang cat, a platform consultancy, to provide up-to-date information on how to vote investment company shares held on platforms.

If you invest with a financial adviser and would like to vote your investment company shares please do consult your adviser as to how to go about it.

  Does the platform facilitate shareholder votes? Is there a cost associated with this? Do the shares have to be voted by the adviser or can they be voted directly by the client?  What is the process for instructing the platform? What information needs to be provided? What if the client has separate accounts? (ISA, SIPP, etc.) How much advance notice does the platform need? Further information provided by the platform 
Aegon Retirement Choices Yes There may be a fee if Aegon vote on behalf of the client. Adviser or client Written confirmation and full details of relevant investments must be provided. Not diclosed Not diclosed Aegon must be informed of the intention to exercise any voting rights 15 business days before the voting date.   
AJ Bell Investcentre Yes No cost For resolutions that could have a significant effect on a customer’s shareholding (ie EGMs, special resolutions at AGMs) AJ Bell Investcentre alerts customers via their account and enables them to vote online.  For standard AGM resolutions that are unlikely to have a material effect on the customer’s shareholding (ie director re-elections etc), customers can request to attend the meeting in order to vote or vote by proxy and AJ Bell Investcentre will process this for them.  

Enabled online so customer can self-serve.

Not disclosed.

Customers do not need to notify for each account.

As much notice as possible but at least 5 days. How do I attend and/or vote at an AGM or EGM?
Alliance Trust Savings (ATS) Customers can ask ATS to:
− vote on any company or fund resolutions on their behalf (as long as there is a right to vote and the customer gives ATS clear instructions on how they want ATS to vote)
− arrange for a customer to attend a company or fund meeting in person (as a non-voting guest).
No cost The adviser can provide this information as long as the adviser has the relevant permissions. Customers can call, email , write a letter informing ATS that they wish to vote. Aside from providing security questions , customers need to provide a clear instruction on how they would wish ATS to vote on their behalf.  Customers do not need to notify for each account. ATS needs to have the information to the registrar 48 hours prior to the vote so customers need to ensure they have their intentions with ATS prior to this.  n/a
Ascentric Ascentric accepts voting instructions but do not offer a voting service. No cost Advised clients can vote directly or through their adviser after consultation. Ascentric accepts letters from clients and/or emails from advisers. Account Number, wrapper, name of asset and/or ISIN number of shares and the voting elections. Customers need to specify wrapper. Anytime between meeting announcement and the absolute latest of 5 working days before the meeting. Voting instructions are normally carried out within 10 working days from receipt. n/a
Aviva Platform No n/a n/a n/a n/a n/a n/a n/a
Elevate No n/a n/a n/a n/a n/a n/a n/a
FundsNetwork Yes No cost Can only be voted by client. Adviser cannot vote presently. Customer must opt in to the shareholders rights service online, from here customers will receive notifications of meetings for asset they hold, customers can then vote online for all resolution under discussion in that AGM. Nothing extra required once customers opted in. Doesn’t matter - customers can vote for all accounts. Example timings might work as follows - customer notified on 16th of month, meeting is 28th of the month, vote deadline day is 22nd of the month. n/a
Hubwise Yes. The client/advisers will need to contact Hubwise ahead of the AGM. Hubwise doesn't send out a notification as the information is publicly available.  No cost Adviser or client Hubwise needs to be contacted ahead of the meeting, stating number of shares held and which way client/adviser wants to vote on each resolution. Number of shares client hold and which way the client/adviser wants to vote on each resolution. It's the same process for each Hubwise normally needs to know at least 2-3 days in advance of the meeting.  n/a
Nucleus No n/a n/a n/a n/a n/a n/a n/a
Raymond James Yes £30 if there is more than 5 business days' notice, £50 if there is 3-5 business days' notice (no VAT) If proxy voting card required, the client will need to complete and sign it.  The investor will contact their wealth manager  to notify them they wish to vote on a particular issue as a shareholder. The client or wealth manager will obtain the proxy voting card typically from the relevant company’s website, the client will complete the card and provide to the wealth manager.  The wealth manager will provide Raymond James the completed proxy card, the relevant client name and account number, name/SEDOL of the relevant holding, amount of shares held, the date of the meeting and confirm how the client wishes Raymond James to vote on his/her behalf.  Same process but details confirmed for each specific account which holds the relevant shareholding. Normally 5 days' notice needed, but we will process on best endeavours basis for less than 5 days.  Raymond James has procedures on the internal portal the  wealth managers refer to.
Seven IM 7IM accepts voting instructions but do not offer a voting service. Clients can ask 7IM to:  a) vote on any company or fund resolutions on their behalf (as long as there is a right to vote and the client gives 7IM clear instructions on how they want 7IM to vote). b) arrange for a client to attend a company or fund meeting in person (additional joint holder as a non-voting guest). No cost Instructions to vote can be submitted by the client or the adviser on behalf of a client. Instructions from advisers are submitted through the platform service team.   Clients may instruct directly. Client Name, Portfolio ID, shareholding and voting instructions. Number of shares a client holds and which way the client/adviser wants to vote on each resolution. Same process but details confirmed for each specific account which holds the relevant shareholding. Normally 5 days' notice needed for CREST holdings before voting deadline, but we will process on best endeavours basis for less than 5 days.

7IM does not send out notifications relating to Company meetings.

7IM will be reviewing its shareholder voting process in the new year (2019).

Standard Life Wrap Yes, if shares ar held in their ISA. No cost Instructions must come from the adviser. Provide a clear instruction to SL of what they would like to do. Proxy voting and the ability to attend an AGM is offered. A clear instruction and the date of the AGM. SL do not provide AGM notifications or investor forms. This information is widely available in the market. Yes, votes are only on assets in their ISA. Not disclosed All instructions are executed on a best endeavours basis, there is no formal agreement/SLA’s for HSBC to facilitate instructions.
Transact Yes but the client/advisers will need to contact Transact ahead of the AGM. Transact doesn't send out a notification as the information is publicly available.  No cost Adviser or client Call or secure email to CSM team. Contact Transact in  good time ahead of the meeting, stating number of shares held and which way client/adviser wants to vote on each resolution. Number of shares client hold and which way the client/adviser wants to vote on each resolution. Not an issue, just provide total number of shares held across all wrappers. The time in advance varies from company to company but Transact  normally needs to know at least 2-3 days in advance of the meeting.  Transact doesn't send out general meeting information, the client will need to look when the AGMs are on the various company meetings.
Zurich Intermediary Platform Yes, provided appropriate instructions from the client’s adviser or their appointed investment adviser(s) is received. The client will be responsible for the costs reasonably incurred by Zurich.  All information should be provided by the client’s adviser. The client’s adviser or investment adviser should contact Zurich to let them know what actions they wish taken on their behalf, i.e. attend shareholders’ meetings and exercise voting rights. Not disclosed. Not an issue. At least 14 days’ prior written notice from the client’s adviser or any investment adviser(s) in order to comply with any requests. n/a

Source: AIC/the lang cat (last update 30/07/18)

Shareholder voting - Consumer Platforms >>>