Canoe Hosts Inaugural Meeting of its Wealth Management Client Council

Last week, Canoe Intelligence clients from leading independent wealth management firms across the country participated in the company’s first Client Council meeting. This group of innovators is partnering with Canoe to provide ongoing product and development roadmap feedback, beta-test new features and integrations with downstream systems, and facilitate the sharing of best practices throughout the independent wealth management community. 

Members of the Canoe Intelligence Client Council include:

Align Impact

Corient Capital Partners

Dyson Capital Advisors

Ohana Advisors

Provenio Capital

After reviewing the progress made in the platform this quarter and the product roadmap for next year, the bulk of the inaugural meeting was an open forum for all members to share their most pressing challenges and ideas for meaningful product improvements, and identify priorities for 2021. 

Building on the product enhancements completed in 2020, a selection of the priorities and ideas discussed include:

  1. Continuing to enhance the integrations with Addepar and other downstream reporting platforms: As a first step, we offer out-of-the-box flat file compatibility with Addepar and many other platforms. As our technology and partners evolve, we’re exploring API or micro-UI integrations so that clients can more seamlessly deliver data where it needs to go.
  2. New ways to use Canoe’s shared intelligence across funds that multiple clients are invested in: Since Canoe’s inception, we’ve been processing documents from thousands of funds and managers, building a coverage universe representative of the private capital market landscape. From that universe of funds, our system has created a collective and growing intelligence that benefits all of our existing clients and new clients who come on board. It’s through this shared intelligence that enables the platform identifies discrepancies in manager reporting that may not be immediately recognized by an individual. As more and more documents enter the Canoe ecosystem, we expect our clients to benefit from entirely unique applications of the system’s growing intelligence.
  3. Adding integrations with leading document portals: While Canoe has made great strides in improving the ability to extract and validate data, the first-order problem of manually collecting documents from portals is still a large pain point for many Members and the industry as a whole. Canoe discussed a substantial effort in 2021 and beyond to integrate directly with leading investor document portals to reduce this time-consuming element of retrieving documents for alternative investments. Canoe is already executing on various forms of integration with the most tech-forward portals. Stay tuned for news on this next year!  
  4. Ability to connect with CRMs to manage capital call distributions more seamlessly: The group discussed other integration opportunities beyond the traditional wealth management space to substantially improve workflows around capital calls and distributions. Further, leveraging Canoe’s document API to more comprehensively feed documents into CRM and RMS platforms is a natural next step for the product already in flight.
  5. Leveraging Canoe to process and distribute additional document types, like K-1s and SOIs: Continuing to enhance our ability to process and extract data more accurately and efficiently from many different types of documents seen in the private investment space, and improving the ways clients can then share data with other systems and/or parties is core to our strategic vision.

Interestingly, these topics are quite consistent and aligned with the feedback we’ve received from other clients, and we’re eager to collaborate with our client base to solve these challenges. Our team is looking forward to continued ideation and discussion within our Wealth Management Client Council as we help firms reimagine their processes. To learn more about Canoe, please reach out.

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