JP Morgan has decided to to interrupt any collaboration with the proxy advisor in the United States, by entrusting stock voting to a internal platform based on artificial intelligence call IQ ProxyThe wealth management division, among the largest in the world with more than $7.000 trillion in client assets, will have to vote on shares in thousands of companies each year. According to what was reported by the Wall Street Journal, Proxy IQ will analyze data from more than 3.000 annual meetings, replacing the traditional roles of companies such as Glass Lewis e Institutional Shareholder Services (ISS) and providing recommendations directly to portfolio managers.
JP Morgan: Artificial intelligence replaces external advisors
Proxy IQ, built on the investment data platform Spectrum, aggregates and analyzes proprietary data from corporate meetings. Before the platform, JP Morgan already relied on its own in-house stewardship team, but the transition to an AI solution represents a complete paradigm shift, eliminating all dependence on traditional proxy advisors.
Jamie DimonJPMorgan Chase, CEO of JPMorgan Chase, has repeatedly criticized proxy advisors, calling them “incompetent” and declaring that “they should be eliminated and dead, no more,” highlighting their potential to unduly influence shareholder votes and promote politically motivated agendas.
Trump and the pressure on proxy advisors
The political context played a decisive role in JP Morgan's choice. Proxy advisors have come under scrutiny from the Trump administration, which in December 2025 signed a executive order to strengthen oversight of the industry and ask securities regulators and antitrust authorities to investigate the practices of companies like ISS and Glass Lewis.
Trump has denounced how these advisers can “promote and prioritize radical, politically motivated agendas,” particularly on ESG and DEI topics (diversity, equity, and inclusion), significantly influencing corporate decisions and sometimes working against the interests of shareholders. The executive order also affected several federal agencies, including SEC, FTC, Department of Justice and Department of Labor, with the aim of ensuring that voting recommendations are transparent, impartial, and consistent with the fiduciary duties of institutional investors.
The Elon MuskTesla CEO, has been among the most vocal critics of proxy advisors, calling them “corporate terrorists” after ISS recommended rejecting his nearly $1.000 trillion pay package.
J.P. Morgan's initiative has been met with great interest from corporate governance analysts. Glass Lewis did not immediately comment, while ISS stated it is proud of its more than four-decade record of providing high-quality voting research and solutions.
