Wells Fargo Wealth & Investment Management (WIM) has introduced an in-house proxy voting service for client accounts with investment discretion and voting authority. This move aims to enhance voting independence and align with clients’ interests, simplifying the process and reducing reliance on external firms.

The internal system, now in use for the current proxy season, leverages technology from Broadridge Financial Solutions. WIM, managing $2.5tn in assets, offers wealth management services to high-net-worth individuals, emphasizing innovation and client solutions for successful investing.

JPMorgan Chase’s asset management division has transitioned away from external proxy advisory firms, opting to handle shareholder voting internally with AI tools. With over $7tn in assets under management, JPMorgan is responsible for voting at numerous shareholder meetings annually, aligning with the trend of in-house proxy voting services.

Read more at Yahoo Finance: Wells Fargo switches to in-house proxy voting system