LGT Wealth Management, which oversees £30.4 billion in asset has implemented a pass-through voting technology, allowing clients to directly influence stewardship decisions within their passive pooled-fund investments.
The firm has partnered with Legal & General, State Street Global Advisors, and fintech company Tumelo to deliver the service via Tumelo’s ProxySphere platform. This initiative is aimed at enhancing the alignment of its clients’ capital allocation and voting preferences with their values, particularly on environmental and social issues.
Traditionally, proxy voting has been centralised, with asset managers making decisions based on standardised policies. Pass-through voting shifts this model by giving individual investors a direct say in corporate governance matters. The move aligns with regulatory trends in the UK urging wealth managers to take greater ownership of stewardship practices.
“This is an important move for us,” said Siobhan Archer, global stewardship lead at LGT Wealth Management. “Pass-through voting enhances our commitment to creating long-term value for the economy, environment, and society, while empowering clients to influence decisions that matter to them.”
The adoption follows similar initiatives by UK pension funds such as the Greater Manchester Pension Fund and and the SAUL Pension Fund. It highlights the growing focus among wealth managers on providing greater voting alignment within their portfolios.
Mark Johnson, head of Institutional Clients at Legal & General, called the partnership “progressive and exciting,” adding that pass-through voting offers investors “greater freedom to align their votes with their priorities.”
