Mobile proxy voting now possible
It's no secret that investors big and small tend to be less than diligent when it comes to voting their shares in proxy season. You would think investors would be more willing to vote if the process were easier. But that may not be true. Barely 5 percent of retail investors vote when they are sent a notice that voting material is available for them online. In contrast, 20 percent vote when they are sent the traditional package of material. Paradoxical to be sure.
It's enough to make one wonder if Broadridge Financial's move to enable proxy voting via mobile devices will make much of a difference. This month, the firm announced that investors can now cast proxy votes via the iPhone 4, BlackBerry, Android, Microsoft, tablets and other smartphones. There is no special software to download to use ProxyVote; shareholders just access ProxyVote.com from their mobile device and vote, notes Securities Technology Monitor.
ProxyVote previously allowed shareholders to vote through the Internet, and Broadridge has long allowed shareholders to receive proxy information on their mobile phone devices. But now the can take the final step and vote their shares.
My sense is that this is not the answer to the problem of low participation; technology has its limits. But for those who truly want to vote, this is an added convenience. In general, companies need to think about how mobile and online technologies can enhance their proxy presentations.
- here's the article