SS&C Enters Into Exclusive Partnership With HedgeCoVest

Feb 2 2017 | 11:32pm ET

SS&C Technologies has inked an agreement with HedgeCoVest LLC to provide its SMArt Xchange exclusively to SS&C's client base of advisors on Axys , APX, or Black Diamond platforms.

The integration allows for seamless, sleeve-level reporting and portfolio accounting of all SMArtX accounts through advisor-focused SS&C technology solutions, the company said in a statement, and grants SS&C Advent advisors exclusive access to a UMA/SMA offering that provides intra-day liquidity on more than 150 investment strategies. 

Advisors gain access to long only, long/short, and options strategies, which are allocated into a single brokerage account, SS&C said. The SMArtX service uses proprietary technology to maintain a real-time record of investment managers' activity and automatically creates trades to sync investors' portfolios with the investment managers' trading strategies. SS&C Advent, meanwhile, provides data integration and sleeve-level reporting services for accounts managed on SMArtX so that advisory clients of Black Diamond and other solutions have a seamless experience.

"The agreement with HedgeCoVest is a natural extension of our existing suite of portfolio accounting, performance reporting, and custodial data functionality along with our vision of providing advisors with a complete wealth platform," said Dave Welling, managing director and co-general Manager of SS&C Advent. "Our integration with SMArtX offers our clients access to investment management data within the tools they already use. Ultimately this improves the end-client experience while helping advisors achieve their business goals in a seamless and integrated workflow."

"We are excited about offering SMArtX exclusively for SS&C's clients," said Evan Rapoport, CEO of HedgeCoVest. "SMArtX combines our unique trading technology and SS&C's industry-leading platforms, giving clients access to the next evolution of managed accounts, real-time performance reporting, and allocations on both traditional equity and alternative strategies."

Founded in 1986, SS&C Technologies is based in Windsor, CT and provides investment and financial software-enabled services and software to more than 10,000 financial services organizations managing an aggregate $44 trillion in assets.


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