When Kyle Lagratta, Institutional Defined Contribution Specialist, joined T. Rowe Price four years ago, he was initially attracted to the firm's singular focus on investment management and related services. “Having come from a bank with a multitude of business lines," he recalls, “I was impressed by the focus and cohesion around the business at hand." He quickly noticed that T. Rowe Price also had another objective—delivering long-term positive outcomes to the clients. “In a fast-paced world that can be, at times, myopic, focusing on the long-term and delivering the intended outcomes for clients can be a powerful combination," he says.
Over the years, Kyle has transitioned from more internal to external roles at the firm. “Connecting the internal knowledge on how we do what we do and bringing that to our clients has been a very rewarding and humbling experience for me," he states. It's a career path that has given him invaluable perspective.
In his current position, Kyle is motivated by recognizing how his team's work contributes to the greater good. T. Rowe Price's institutional clients face continuing challenges to design innovative retirement programs and secure a comfortable retirement for their employees. Underfunding also burdens pension plans. “Defined contribution plans, too, are grappling with a lack of overall savings and lengthening mortality tables," adds Kyle. “This is not only a concern for individual clients but also society as a whole. The work that we do can have a profound impact if done thoughtfully and in a consultative fashion."
That approach is a crucial skill he's developed while at T. Rowe Price. “When delivering solutions that meet the needs of our clients, the landing point is often an investment product or solution," Kyle explains. “However, the journey —how you arrived at that landing point— is of equal importance." For Kyle, this could mean having a consultative dialogue and ultimately delivering a solution to meet the unique needs of that client. “it's an integral process and requires a very thoughtful approach," he explains. “Learning that skill set is not easy, but it can be a differentiator versus other firms in the industry."
According to Kyle, it all comes down to valuing relationships and partnerships, both internal and external. “Getting to know people, how they operate, how they make decisions, what drives them, and what problems they are trying to solve, allows us to be better informed when providing clients with solutions," he says. “And connecting with colleagues and clients on a personal level just makes the job all the more enjoyable and gratifying in the end."
