Employee Spotlight: Tim Loughrey, Head of Client Success

On a regular basis, we talk with our team members about their experience working at Canoe, and their future goals and aspirations. This week, we talked with Tim Loughrey, Head of Client Success.

As Head of Client Success, Tim Loughrey is responsible for growing our business by bringing on new clients and building strategic partnerships. Prior to Canoe, he worked for Addepar and in wealth management, managing relationships for high-net-worth families with Jefferies and BNY Mellon.

What are the responsibilities of your role? What do you enjoy most about it?

I am focused on growing our business by bringing on new clients and building strategic partnerships. The team here is really thoughtful about how to best accomplish this. We spend a lot of time with our partners and clients and focus on solving challenges and providing our clients value. We think this approach translates to growth in the most organic way possible. 

From there, we keep the market informed of what we are doing and help prospective clients make the best technology decisions to accomplish their goals. Because Canoe’s technology is purpose-built and our team has direct experience working in the space, it affords a lot of conviction in how we approach working with clients. 

What were you doing for work before joining Canoe and how did that prepare you for your current role?

I joined Canoe from Addepar, a Wealth Management Platform which allows advisors and investors to understand their complete financial picture so that they can make fully informed investment decisions. Prior to Addepar, I worked in wealth management, managing relationships for high-net-worth families with Jefferies and BNY Mellon. Having this industry experience has been immensely important in understanding how technology can serve our audience best. Additionally, being with Addepar in the early years of their business growth helps tremendously. Building a business is really unique and the first time through it can be pretty daunting, so I am really glad to have that experience and help Canoe as we build ours. 

How has your process shifted since working remotely? Have you seen client priorities shifting one way or another?

This is a really interesting question, I have been reading a lot of the studies that are being done on how selling is changing. Developing relationships in the sales process has changed quite a bit since we all became remote. The “in-person meeting” was often a great way to build rapport, and with that now removed we have to think very differently. For me, these changes have mostly been positive. We’ve moved away from social selling, and now the market operates as more of a meritocracy. 

Now, I think being highly organized, transparent, and really stepping in as a consultant is valued – so that works well and I think should be how prospects evaluate partners. 

I would be dishonest if I didn’t acknowledge that we are in a unique business environment. With that said, the market has been resilient in the near term which has allowed us to continue our growth. More interestingly, from a secular trend standpoint, there is no doubt that this environment, with our clients working remotely, has provided a tailwind to cloud-based solutions and automation.

What is most exciting to you about Canoe’s technology and approach? 

Canoe is solving a really challenging problem that has persisted for decades. Data management challenges are really tough, as they reverberate throughout a firm and can limit that firm from being operationally efficient. Data operations are kind of like the foundation of a house, it all builds from there. It is exciting to know we are solving a real challenge, not just executing on some idea we thought was brilliant. And, the fact that we are solving it with collective intelligence is unique but also what the market wants. Canoe takes a client-focused approach, which is the right one, and our product roadmap reflects this. 

When you talk with clients, what intrigues them most about Canoe? How is Canoe different from other technologies available today for alternative investors?

So, Canoe is different in a lot of ways but the key is that the tech is purpose-built. Anyone that has ever purchased or used financial technology platforms knows that some of these tools don’t really seem to understand the problem and that usually means they fail in the edge cases. Being incubated in a cutting-edge MFO and with a leadership team from the industry, including on the R&D side, Canoe is pretty unique and these characteristics definitely set this platform apart. 

I have heard from prospects that they really feel like the tech was built to address exactly what they deal with on a day-to-day basis. And, that is what this is all about. You make clients successful, you grow your business and you invest back into making your clients even more successful.