One of Australia's largest wealth managers is the latest institution to take full advantage of Intermediary Online, which helps intermediaries streamline interactions between top investors and the registry.
As an existing client they were already using Intermediary Online to manage payment transactions and administer their client holdings online. In 2015 they approached Computershare to discuss ways they could increase digital engagement and further improve efficiency across their portfolio of investors, by suppressing mail for all AGM-related material.
By adopting the 'Corporate Actions Module' function for managing event participation, as well as the 'Voting Module' which enables institutional investors to receive meeting information electronically and lodge their votes online, they were able to eliminate the risks and cost associated with manual processing and receive secure, real-time updates to the register during AGMs.
The cost-saving benefits for issuers are significant, as all AGM-related material, including Notice of Meeting and proxy voting forms, are now available via Intermediary Online. This wealth manager has almost 200,000 accounts across all registers and now receives annualised savings of $488,000, based on the procurement and mailing of AGM documents.
With approximately 900,000 total accounts managed on the Intermediary Online platform, the annual savings to issuers will reach $3 million in 2016.