M1 Selects FIS to Replace Legacy Infrastructure with Real-Time Proxy Voting

M1, the automated wealth management platform that lets users invest, spend, borrow, and earn, has chosen FIS Proxy Voting by Proxymity to overhaul its proxy voting infrastructure. The move replaces legacy batch-based systems with a real-time, cloud-based solution aimed at improving transparency and accuracy for corporate governance.

The new solution, part of the FIS Asset Servicing Management Suite, digitizes the entire voting lifecycle. Traditional proxy voting often relies on batch processing, which can cause delays, errors, and a lack of confirmation that votes were properly cast. M1 will deploy the digital platform to streamline communications among issuers, intermediaries, and investors.

“Asset servicing is a critical part of the money lifecycle, yet proxy voting has been stuck in the past with legacy processes, so we’re changing that,” said Matt Stauffer, head of Trading and Asset Services at FIS. “Investors demand real-time transparency and issuers need accurate vote counts.”

Jake Burger, Principal Finance Officer at M1, commented: “We are excited to utilize FIS Proxy Voting by Proxymity to unlock increased operational efficiencies … Providing our clients with a modern, user-friendly online voting portal is essential in ensuring their access to perform active corporate governance.”

The solution is delivered in collaboration with Proxymity, a digital investor communications platform that connects issuers, intermediaries, and investors. Jonathan Smalley, COO and Co-Founder of Proxymity, noted that the partnership puts Proxymity’s real-time capabilities at the core of the FIS suite, extending its reach across North America.

The FIS Asset Servicing Management Suite is designed to give financial institutions a single integrated platform for transparency and control over asset servicing operations. M1’s adoption marks another step away from outdated proxy voting methods toward a fully digital, real-time process.