The biggest index fund and ETF companies, including BlackRock and Vanguard, have mixed records voting on shareholder proposals related to climate change and other key social issues. A bold idea with support from one of the Securities and Exchange Commission's top officials would require mutual funds to make proxy votes front and center in the fund buying process.
George Michael Gerstein advises financial institutions on the fiduciary and prohibited transaction provisions of ERISA. As co-chair of the fiduciary governance group, he assists clients with tracking, and understanding, the numerous fiduciary developments at the federal and state levels, including the rules and regulations of governmental plans. He also advises clients with respect to the fiduciary duty implications of ESG investing.