A Connecticut company has teamed up with a software provider to provide advisors using Advent with real-time access to accounts.

The partnership creates a low-cost, high-tech rival for other technology-based third-party asset management firms like Envestnet and others in the separately managed account space.

SS&C Technologies Holdings Inc. is partnering with HedgeCoVest through an agreement that will enable SS&C Advent advisors to have real-time access to managed accounts, the two firms announced Thursday.

SS&C Technologies, based in Windsor, Conn., is a global provider of financial industry software and software-enabled services. HedgeCoVest is the creator of a real-time investment platform for the managed accounts market. Its trading technology is designed for advisors of traditional and alternative managed accounts.

The agreement gives exclusive access to the SMArt Xchange technology to SS&C Advent advisors using the Axys, APX or Black Diamond programs.

“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 at 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 work flow.”

This integration allows reporting and portfolio accounting of all SMArtX accounts through the advisor-focused SS&C technology, the firms said. In addition, managers can allocate or redeem from any strategy at any time throughout the trading day, and advisors can customize each client portfolio to meet investment objectives.

Most investing minimums are $20,000, with some as low as $5,000.

The partnership gives Advent advisors exclusive access to a managed accounts program that provides liquidity throughout the day on almost 150 investment strategies. Advisors gain access to long-only, long-short and options strategies, the firms 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.

Evan Rapoport, CEO of HedgeCoVest, added, “SMArtX gives clients access to the next evolution of managed accounts, real-time performance reporting and allocations on both traditional equity and alternative strategies.”