Strive Proxy Services Advising Voting of Shares for Clients With More Than $5 Billion in Assets
Today, Strive announced it is voting recommendations and advising on shareholder engagement for clients whose assets total more than $5 billion through its Outsourced Shareholder Engagement & Proxy Voting Consulting Services (OSEP). This expansion of Strive's financial service offerings was launched three months ago to enable investors to vote to maximize their value while simultaneously disrupting the duopoly that incumbent proxy advisory firms Institutional Shareholder Services and Glass Lewis have historically held.
"There's a refocus on investing to maximize long-run value through a commitment to shareholder primacy that mandates the corporate pursuit of excellence," said Matt Cole, Strive's CEO & CIO. "Proxy voting and shareholder engagement are critical for guiding companies to concentrate on long-term profitability. As more and more investors realize how their money, proxy votes, and shareholder voice have been mismanaged to advance stakeholder capitalism, Strive will continue to offer solutions with the sole focus of value maximization."
"ISS and Glass Lewis continue to make political proxy vote recommendations that are not in the best interests of shareholders," added Justin Danhof, Strive's Head of Corporate Governance. "For example, they recently recommended a vote in favor of a Unionization Audit at Starbucks, against Starbucks' board's recommendation. Strive voted against this Unionization Audit as it would be disastrous for the company, and the proponents of this audit are more activists than earnest investors. Fund managers relying on ISS and Glass Lewis to make recommendations to maximize shareholder value are doing a great disservice to their clients and may in fact be violating their fiduciary duties of loyalty and care."
For more information on Strive Proxy Voting and Strive Outsourced Shareholder Engagement & Proxy Voting Consulting Services (OSEP), please visit www.strive.com/ourservices.
Strive Proxy Voting is available on Broadridge Financial Solutions' institutional voting platform, ProxyEdge®.
??About Strive: Strive is an Ohio-based firm whose mission is to restore the voices of everyday citizens in the American economy by leading companies to focus on excellence over politics. The company was co-founded by Vivek Ramaswamy and Anson Frericks in 2022. Learn more at www.strive.com.
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