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eToro strikes proxy voting contract with Broadridge

FundsSocial investing network eToro has partnered with fintech Broadridge to develop a proxy voting service for its users.

The deal will enable eToro investors to participate in AGMs and other corporate decision by casting a proxy vote.

The move comes amid growing investor interest in stewardship.

A survey conducted by eToro found that 73% of 10,000 retail investors wish to vote in AGMs. The survey also found that this demand is more pronounced among younger investors with 80% of 18-34-year-olds saying they would vote in an AGM, compared to 65% of those over 55s.

“Retail investors have not always been given the platform, the voice and the support that they deserve but this is rapidly changing and retail investor access to proxy voting is a crucial step in this journey,” said Yoni Assia, CEO and co-founder of eToro.  

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