SMArtX Advisory Solutions, a West Palm Beach, Fla.-based provider of managed accounts technology and asset management platforms, raised $4m in equity financing.
The round was led by ManchesterStory Group, as well as existing investors IA Capital Group.
The company intends to use the funds to expand upon its tools for Registered Investment Advisors and Independent Broker/Dealers, to develop solutions for enterprise customers looking to provide their own proprietary managed accounts programs to financial advisors. These solutions will be an expansion of SMArtX’s proprietary managed accounts technology and will bring evolutionary functionality to the TAMP industry.
Led by Evan Rapoport, CEO, SMArtX Advisory Solutions is a proprietary managed accounts technology provider and manages SMArtX, an asset management platform which offers traditional, alternative, and passive direct index strategies in a unified managed account structure. The firm also uses its proprietary trading and managed accounts technology to power SS&C Advent’s integrated unified managed account solution.