Insights

Canoe Hosts Wealth Management Client Council Meeting

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

The Canoe Intelligence Wealth Management Council includes business leaders from eleven firms. 

After reviewing the progress made in the platform during the first half of this year and the product roadmap for the remainder of 2021, three Council Member Firms were spotlighted in breakout sessions. Topics covered in these breakout sessions included the client’s experience with alternative investment data management before Canoe, results since implementing Canoe, and an open discussion about innovations within the Canoe platform to further improve the client’s workflows. Some of the key themes covered during these breakout sessions are highlighted below:

  1. Document Collection – Canoe Connect: In addition to ingesting alternative investment documents from email inboxes and portal APIs, Canoe has made significant progress connecting to many leading investor portals to streamline the retrieval of alternative investment documents. Future plans include establishing direct connectivity with more investor portals, and building document receipt reporting functionality. With the ability to report on documents received, Council Members and Canoe clients will be able to further ensure all documents are accounted for in our platform.
  2. Enhanced Support for Other Workflows: For business workflows within wealth management pertaining to private capital, Council Members discussed product development plans for enhanced capital call notifications, cash flow and cash needs projections, and streamlined cash reconciliation/treasury workflows. We’re excited about Canoe’s ability to integrate with and trigger these additional processes common across the industry.
  3. Improved Connectivity to Downstream Systems: In addition to the existing flat file and data extract integrations with leading accounting, performance and reporting systems, Council Members discussed ongoing enhancements and progress in building API integrations to core downstream systems for both document and data delivery. These deeper integrations will include bi-directional flow of information to both update Canoe Ownership, and Downstream Reporting and Document Access for end clients with platforms like Addepar, Black Diamond and SEI Archway.
  4. Delivery Reconciliation with Downstream Systems: To further verify the delivery of clean and accurate data from Canoe to downstream systems, Council Members discussed the opportunity for enhanced 360 degree tracking and communication between Canoe and key third party platforms. Canoe’s partnership and product development priorities are well aligned with this feedback.

Interestingly, these topics are quite consistent and aligned with 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.


Case Study: Align Impact

Learn how Align Impact scaled its business and expedited alternative investment workflows with Canoe. Download the case study >

By automating document collection from multiple sources, improving data accuracy of new and historical data, and implementing best practices for managing alternative investment workflows, Align Impact is now experiencing a 75% reduction in time spent managing an even larger volume of alternative investments. Download the case study.