Wallace Finance Co. (“we”, “us”, “our”, “Wallace”), a Delaware Corporation and registered investment adviser registered with the United States Securities and Exchange Commission, offers the investment platform described below through a mobile app (the “Platform” or “Wallace Platform”) operated by us that provides tools designed to aid you in automatic structuring and purchase of securities. To use the Platform, you must agree to the provisions of this Wallace Finance Co. Advisory Agreement (the “Advisory Agreement” or “Agreement”), including all related documents referred to in this Advisory Agreement, as well as our Privacy Policy and Terms of Use. This Advisory Agreement is effective on the date you indicate your acceptance electronically.
THIS ADVISORY AGREEMENT CONTAINS AN ARBITRATION PROVISION. SEE SECTION 16 FOR AN IMPORTANT NOTICE CONCERNING YOUR RIGHTS.
PLEASE NOTE: This Advisory Agreement creates a binding contract between you and Wallace Finance Co. Please review the Advisory Agreement and all related documents carefully. Contact us at support@wallacefinance.io if you have any questions. By accepting this Advisory Agreement, you are acknowledging that you are aware that your electronic signature has the same legal effect as signing a paper agreement.
The Platform is intended for natural persons who are residents of the United States, who have a valid social security number or tax identification number, and who are of legal age to enter into this Advisory Agreement. We do not offer the Platform or any products or services outside of the United States or in United States territories.
You appoint us as your investment adviser and as your limited attorney-in-fact to perform the services described in this Advisory Agreement, including the authority to structure and allocate investments and submit them to the Broker (defined below) for trade execution. We accept this appointment under the terms and conditions in this Advisory Agreement.
You are solely responsible for evaluating the merits and risks associated with any securities investments made through the Wallace Platform. We do not provide any investment advice other than as outlined in this Advisory Agreement. Our services are provided solely through the Wallace Platform. We do not provide investment advice in person, over the telephone, or through any other medium. We, or the Broker (defined below), do not provide any legal, accounting, or tax advice.
The Wallace Platform does not create specific risk profiles for users for creating investment strategies. Users have discretion to create investment strategies based on goals, themes, or any subjective or objective ideal. We do not invest your funds at our discretion; the user has ultimate discretion as to the allocations, structure, and timing of investing in their investment strategies.
We provide investment advice regarding specific securities, but only in the form of algorithmic outputs based on standardized rules linked to your subjective and objective inputs. We do not use automation for timing trades. Trades are only triggered at the user’s discretion and are transmitted immediately to the Broker for execution depending on market hours.
You understand that you are purchasing your stock with your money. Each time you invest into an investment strategy, we allocate your dollar amounts to individual securities based on the current weighting of securities in the strategy. These allocations are sent to the Brokerage. Investment minimums per security are one dollar ($1.00) by default; thus, every allocation within a strategy may not be filled, especially with lower investment amounts and strategies with larger numbers of securities. The Wallace Platform provides tools to minimize this difference between user confirmed allocations and Broker executed allocations. Users may manually shift allocations to mitigate this over time or use tools such as automatic or dynamic rebalancing to correct allocation amounts or allocation drifts within individual strategies.
To use the Wallace Platform, you will need to open a brokerage account (your “Brokerage Account”) with Alpaca Securities, LLC (the “Broker”). The Broker is the party that executes the stock transactions for you when you invest in a strategy on the Wallace Platform. To establish a Brokerage Account, you are required by law to provide your taxpayer identification number such as a social security number. The Broker needs this information to verify your identity and to report your dividend, interest and stock sales to the Internal Revenue Service. The Broker will provide custody, clearing, and settlement services for your Brokerage Account. All account opening functionalities, including identity verification and approval, are handled digitally by the Broker. The Broker shall provide all brokerage services to you. Accordingly, you must agree to the terms of the Broker’s Customer Account Agreement to establish an account with the Broker. Only individuals will be permitted to establish accounts with the Broker, which shall be in their own name; accounts for legal entities are not supported in the Wallace Platform. You will be required to complete all applicable Broker forms and agreements. You are not charged commission fees for using the Wallace Platform, but see Section 6 below for a description of our fees. The Broker reserves the right to reject any account application for any reason whatsoever.
Additionally, you will need to securely link your bank account to the Wallace Platform as this is how you pay for your stock transactions and fees. Because there is a cost to us associated with each bank account link, we currently only allow you to link one bank account. The third-party that links your bank account is Plaid, inc. (“Plaid”). You will need your online user ID and password for your bank account to enable Plaid to link your account. Plaid provides support for over 9,000 financial institutions and banks; however, connections are not available for all financial institutions and banks. If Plaid does not currently connect with your financial institution and/or your bank, you will not be able to use the Wallace Platform.
We are not responsible for your connections to your bank and financial institution. You will need to periodically reverify your connections for security reasons and the Wallace Platform will not work for you until that re-verification process is completed. Additionally, in some instances, Plaid is unable to make
some connections due to issues with the bank and/or financial institution, changes in your login credentials, or for other reasons. If you continue to have problems with your connections, contact our customer service at support@wallacefinance.io. Our customer service team will use its best efforts with Plaid to resolve connection issues, but we cannot guarantee that all connections will be available.
If your linked bank account is closed or restricted, no additional deposits or withdrawals can be made until you reopen/unrestrict the account or link a new bank account.
By using the Wallace Platform, you give your approval for the Broker, through the Wallace Platform, to automatically withdraw from your bank account the funds to purchase your stock or to add to a cash account. The bank account that you will use to fund your investment in stock must have sufficient funds to pay for your investment in stock and to put additional money in your cash account. The funds are withdrawn by the Broker and held in Brokerage Account; Wallace does not have custody of these funds. You also give approval for Wallace to automatically withdraw from your bank account the fees associated with this Agreement (discussed below)
Although we do not charge overdraft fees, the Broker charges a $15 fee for failed transfers. This fee is deducted from the cash available in your account. If insufficient cash is available, securities will be sold to cover the fee. Additionally, your bank can charge an overdraft fee.
You may transfer funds from your bank account to your Brokerage Account at your discretion. These funds may take 3-5 days to settle and be available to use in your Brokerage Account and on the Platform. Only funds in your Brokerage Account may be used to invest through the Platform. The securities available in the Platform are a limited universe of publicly-traded stocks, which is subject to change. All users have access to the same universe of securities.
You can withdraw funds in an amount up to the available cash in your Brokerage Account by initiating a withdrawal request through the Wallace Platform. Cash withdrawals do not occur instantaneously. Keep in mind that the Broker requires time to process these requests. You must have a bank account linked to your Brokerage Account to process a withdrawal request. By requesting a withdrawal, you authorize the
Broker to transfer funds in the amount you request to your bank account. If securities need to be liquidated to generate cash for your requested withdrawal, the proceeds of the sale need to settle before the withdrawal can be processed. If you have problems with receiving your withdrawal, first please check that your bank account is correctly linked. If it is, then please contact our customer service at support@wallacefinance.io and we will check the status with the Broker.
You can sell securities within an investing strategy on the Wallace Platform at any time. Wallace will immediately route these orders to the Broker depending on market hours. Users should be aware that rebalancing strategies, removing stocks, adding stocks, or changing allocations within a strategy will
likely result in multiple buy and sell orders in order for a strategy to coincide with the new allocations as implemented by the user. These buy and sell orders many times have tax implications such as capital gains tax; Wallace does not provide legal, accounting, or tax advice or recommend tax-related strategies. You are responsible for understanding the tax implications of changes you make to investing strategies.
You acknowledge and agree that we place orders to buy and sell securities on your behalf for your Brokerage Account, only at your direction, during distinct trading windows during normal market trading hours. The frequency of these distinct trading windows may be limited during adverse market conditions
or during shortened trading sessions or otherwise changed at our discretion. There is no guarantee that any order you place will be executed during any particular trading window. The Wallace Platform is not designed to support real-time trading. Orders placed close to or after market hours will be sent for execution with the Broker upon market open on the next available trading day. Users should be aware that this means that orders placed after trading hours may be executed at different prices the following trading day.
You direct the investments in securities and deposits of cash in your Brokerage Account based upon your interaction with the Wallace Platform. You are responsible for monitoring the activities in your Brokerage Account via the Wallace Platform.
We and the Broker have discretion to determine the securities available on the Platform, and may add or remove any security from the Platform at any time. The platform provides access to a subset of this stock universe. If a security is removed from the Platform, the Broker will limit transactions in that particular security to the liquidation of positions only. The Broker will not be responsible for any losses resulting from a security being removed from the list of available securities.
By using the Wallace Platform, you authorize and direct us to place all trades in your Brokerage Account through the Broker. All orders to purchase or sell securities are made by you through the Wallace Platform. No other method exists for placing orders for transactions.
As noted above, your participation in the Platform requires that you open a Brokerage Account with the Broker. The Broker is generally responsible for: (i) maintaining and recording transactions in cash and securities (including fractional shares) in your Brokerage Account; (ii) executing, clearing, and settling orders placed through the Wallace Platform; and (iii) providing you with statements, confirmations, other required documentation, and other information about your Brokerage Account and transactions therein.
We will have no authority to initiate any withdrawal or otherwise transfer any securities or money out of your Brokerage Account other than fee deductions. Failures and delays, and/or interruptions in processing requests to withdraw funds or transfer of cash or securities can occur. These processes are handled by the Broker. You acknowledge and agree that the Broker can require additional information before processing any request for withdrawal or transfer, and that such requests could cause delays. We can help facilitate your requests for withdrawals or transfers with the Broker, but we are not responsible for such delays as these matters are handled by the Broker.
You retain sole ownership of your Brokerage Account, including the right to withdraw securities or cash, exercise or delegate proxy voting, take action directly as a security holder against the issuer of any security in your Brokerage Account, and receive transaction confirmations.
You may terminate this Advisory Agreement at any time for any reason by clicking the DELETE MY ACCOUNT button in the mobile app or by contacting us at support@wallacefinance.io. We may terminate this Advisory Agreement at any time for any reason by sending you a notice of termination by email or other means of notification via the Wallace Platform. Termination of this Advisory Agreement following notice by You or Us shall be effective as of the end of the Billing Period in which such notice was given. We may terminate this Advisory Agreement immediately and without notice if you breach the terms of this Advisory Agreement or Terms of Use.
You agree that we may suspend the provision of services to you or delay, limit, restrict, or refuse any transaction for you at any time for any length of time without prior notice to you if we believe in good faith that such suspension or delay is necessary or appropriate: (i) to ensure compliance with, or to avoid, violating any law or regulation applicable to us or a transaction relating to the Wallace Platform; (ii) to comply with a request or guidance from a regulatory or law enforcement authority with jurisdiction over us or a transaction relating to the Wallace Platform; (iii) to remediate or otherwise address problems with technology; (iv) due to interruptions in the access to or operation of any technology that we directly or indirectly use in connection with the Wallace Platform; (v) to prevent a breach or violation of any term, condition, or other provision of this Advisory Agreement or other agreements; or (vi) to obtain from you any additional information that we, in our reasonable discretion, deem necessary for advisory services to be provided to you pursuant to this Advisory Agreement. Notwithstanding anything to the contrary in this Agreement, including, without limitation, in Sections 1 and 2, we reserve the right, at any time and without notice, to delay or manage the trading of your orders if we determine it is appropriate and consistent with the obligations under this Advisory Agreement.
Upon the termination of this Advisory Agreement, your Brokerage Account will be deemed to be simultaneously terminated. Upon termination, your Brokerage Account may be moved to "Liquidate Only" status and you authorize us to instruct the Broker to sell all shares in your Brokerage Account and any distributions generated by such shares following such request, and to send the cash to the bank account linked to your Brokerage Account. Any unpaid fees will be deducted from your Brokerage Account. If you request that shares be transferred to another custodian or broker-dealer, all withdrawals, transfers or other brokerage account functionalities will be facilitated by the third-party custodian or broker-dealer, in accordance with your instructions and subject to such new custodian or broker-dealer’s policies and procedures with respect to fractional shares, the shares remaining after each of the following are paid for with the proceeds of a sale: (i) any withdrawals pending when the termination notice was received or sent; (ii) the fees charged for processing the in-kind transfer to another custodian or broker dealer; and (iii) any other fees due. You understand that you may not be able to transfer any fractional shares from your Brokerage Account and may have to sell any fractional shares upon termination or transfer of your Brokerage Account.
Please note that the Broker handles the withdrawal of funds to your bank account. Typically, this should occur within one to three business days after your request for the proceeds to arrive at your linked bank account. The Broker has the ultimate control over fund withdrawals and may restrict withdrawals if there is reasonable suspicion of fraud or inappropriate activity. The Broker may require additional information from you before processing a withdrawal request, and failure to promptly provide such information could lead to delays or cancellations of the requested withdrawal. Although we cannot control the actions of the Broker, we will use our best efforts to assist you.
Upon termination of this Advisory Agreement and upon the processing of any liquidations or other transactions in your Brokerage Account, we may immediately deactivate your Brokerage Account and bar any further access to the Platform, except as we may otherwise provide from time to time.
Your death or incapacity shall not terminate any authorizations you grant to us in this Advisory Agreement until we receive written termination notice thereof from your executor, guardian, attorney-in fact or other authorized legal representative.
Wallace charges a fee of 0.25% annually of all Assets Under Management (“AUM Fee”). The AUM Fee is calculated daily, and users are charged monthly for the sum total of all fees within that month. For example, a Brokerage Account with an investment amount of $10,000 will have the AUM Fee calculated daily (0.25% / 365) and charged at the end of the month. Incidental services within the Platform such as stock information, AI analysis, and research tools are provided for free outside of the AUM Fee.
The Advisory Fee covers both our fee for our advisory services and use of the Wallace Platform. The primary method for payment of the AUM Fee is direct billing to the linked bank account. If there are not enough funds to cover the AUM Fee in the linked bank account, Wallace will deduct the fee from the cash in your brokerage account, and if there is insufficient cash in your account, we will charge any other funding source connected to your account. If we can no longer collect fees from you, we may close your account. If you no longer wish to use the program, you will need to close your account. See Section 5 above.
At our sole discretion, we can waive fees from time to time and/or offer discounts due to special promotions or based on individual client circumstances.
In addition to our fee, you can incur additional service fees from the Broker for items such as ACH transfers, overdraft fees, paper statements or trade confirmations, or account transfer/termination fees. See Commissions and Fees. We can change our fees by amending this Advisory Agreement. Amendments will be communicated to you as described in Section 13 below.
By accepting this Advisory Agreement, you are providing your consent for us to provide communications to you electronically to the email you provide, your cell number, or by posting on the Wallace Platform. All communications sent to you by any of these methods will be treated as if they were given to you
personally, whether or not you receive and read them. You agree that you have the necessary hardware, software, mobile applications, or other technology required to receive and review communications, including internet access, a valid telephone number and a valid email address. You agree to promptly update your email address if it changes.
We will periodically send you emails that we hope you will read. We send you emails for the following reasons:
We will make best efforts that the Wallace Platform is available during 9:30 am ET to 4:00 pm ET on any Monday through Friday (New York time), excluding federal holidays in the United States and any day on which banking institutions and stock market exchanges in the United States are required by law or other government action to close. However, it is understood and agreed that the Wallace Platform utilizes multiple third-party resources and APIs. Therefore, the functionality of the Wallace Platform is dependent on the operation of those services.
We encourage you to provide us feedback from time to time regarding the Wallace Platform and the Platform. In the event of any feedback or complaint received, we reserve the right to forward such communications to the appropriate party to address the communication, including, without limit, the Broker. We reserve the right to contact you about any communication received.
We will not vote proxies on your behalf. Additionally, we will not be required to take any action or render any advice with respect to voting of proxies solicited by or with respect to the issuers of securities held in your Brokerage Account. We will not take any action or render any advice, or otherwise be responsible, with respect to any securities held in or formerly held in your Brokerage Account, which are named in or subject to legal proceedings, including bankruptcies or class action lawsuits.
All investments involve a certain amount of risk and losses are possible, including the potential loss of all amounts invested. Past performance does not indicate future performance. We do not guarantee that you will meet your financial goals and objectives by using our Platform, or that your investments will be profitable. We do not warrant that investment strategies created based on user-input criteria will align with user goals, ideals, expected returns, or any financial or subjective metric. You are responsible for
assessing and acknowledging the structure and allocations of investing strategies prior to confirming and investing. Not all investments are suitable for all investors. You should be aware of a number of factors that could affect your account, including the following:
This list of risks is not a complete explanation of all the risks involved in investing with this Platform. You should read the entire Brochure, Client Relationship Summary, Privacy Policy, Advisory Agreement, Terms of Use, and other materials that we provide at www.wallacefinance.io and in the Wallace Platform. We encourage you to consult with professionals such as tax, accounting, legal, or financial advisers as you deem necessary prior to engaging our services.
The Broker maintains all firm records and has archiving and backup procedures of records to maintain complete and accurate books and records in compliance with SEC Rules 17a-3 and 17a-4 and Applicable Law. We maintain daily backups of basic user information such as associated account emails and account holdings. In the event that a cybersecurity incident caused by the Wallace Platform puts your information at risk including, but not limited to, Distributed Denial of Service (“DDoS”) attacks, account intrusions, and loss of Personally Identifiable Information (“PII”), either we or the Broker will take reasonable efforts to contain the cybersecurity threat and provide any notification as required under Applicable Law.
Your security is important to us. We have our own security protocols, and the Broker and Plaid each have their own security protocols. Almost all financial companies use third-party providers to process your transactions. Your social security number, user ID and passwords for your bank account and your financial institution are not held on our servers. We take reasonable steps to secure your private information. However, most security issues are caused by user actions such as engaging in phishing
schemes or accessing secure websites on unsecured public wi-fi networks. We encourage you to exercise appropriate security measures to protect your personal information.
Federal and state securities laws impose liability under certain circumstances on persons who act in good faith. Consequently, nothing in this Advisory Agreement shall waive or limit any rights that you may have under Federal or state securities laws regarding us or otherwise, including but not limited to our fiduciary duty that we owe to you under Federal or state securities laws. And, nothing in this Advisory Agreement or otherwise is intended to suggest that you have waived any right or remedy that you cannot waive by law.
If Wallace or any of its affiliates is served with levies, attachments, garnishments, summons, subpoenas, court orders, or other legal process which name you as a debtor or otherwise, Wallace or such affiliate shall be entitled to rely upon the representations, warranties, and statements made in such legal process. You hereby agree that Wallace or any affiliate may respond to any such legal process in its own discretion without regard to jurisdiction or forward such legal process to the Broker or such other party as may be appropriate. You hereby agree to hold harmless and indemnify Wallace and its affiliates for any losses, expenses, and costs, including attorneys’ fees, incurred as a result of responding to such legal process or forwarding such legal process to the appropriate entity.
If Wallace or any affiliate receives written notice from a personal representative, executor or administrator purporting to represent your interests, Wallace or such affiliate shall be entitled to rely on all figures supplied and representations made in such written notice if Wallace or such affiliate is provided with letters of appointment bearing a duly recognized court seal without regard to jurisdiction.
Wallace shall not be liable for (i) force majeure or other events beyond the control of Wallace, including without limitation any failure, default, or delay in performance resulting from computer or other electronic or mechanical equipment failure, malfunction or unavailability, unauthorized access, theft, operator errors, governmental, judicial, or regulatory restrictions, exchange or market rulings or suspension of trading, strikes, failure of a common carrier or utility services, severe weather, or breakdown in communications not reasonably within the control of Wallace or other causes commonly known as “acts of God,” whether or not any such cause was reasonably foreseeable, or (ii) general market conditions unrelated to any violation of this Advisory Agreement by Wallace.
This Advisory Agreement, as amended from time to time, including any other documents provided on the Wallace Platform, reflects the entire agreement between the parties. This Advisory Agreement supersedes any prior Advisory Agreement you entered into with us. We reserve the right to amend this Advisory Agreement at any time and in our sole discretion, including provisions that describe our services or fees. In the event this Advisory Agreement is modified, we will provide you with notice of the amended Agreement at least thirty (30) days prior to the effective date of the change(s). The amended Advisory
Agreement will be posted via the Wallace Platform. Your continued use of the Wallace Platform after the effective date of an amended Advisory Agreement will be considered your acceptance and consent to the terms and conditions of the amended Advisory Agreement.
Except to the extent that it is preempted by federal law, the law of the State of Delaware (without regard for conflicts of law principles) will govern the construction, validity, and administration of this Advisory Agreement. However, nothing in this Advisory Agreement will be construed contrary to the Investment Advisers Act of 1940, as amended.
You cannot assign your rights or obligations under this Advisory Agreement without our prior express written consent. We shall not assign (within the meaning of the Advisers Act) our rights or obligations under this Advisory Agreement without your consent, provided however that you will be deemed to have consented to an assignment if you do not object to such assignment within 30 calendar days of being notified through the Wallace Platform or by email of our intent to assign such rights or obligations. Any reorganization, restructuring, or other transaction affecting our ownership will not be deemed to be an assignment (within the meaning of the Advisers Act) of this Advisory Agreement, so long as such reorganization, restructuring, or transaction does not result in a change of actual control or management.
PLEASE READ THE FOLLOWING PARAGRAPHS CAREFULLY BECAUSE THEY REQUIRE YOU TO ARBITRATE DISPUTES WITH WALLACE AND LIMIT THE MANNER IN WHICH YOU CAN SEEK RELIEF FROM WALLACE.
THESE TERMS ARE AND WILL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF DELAWARE, U.S.A., WITHOUT REGARD TO ITS PRINCIPLES OF CONFLICTS OF LAW, AND REGARDLESS OF YOUR LOCATION. EXCEPT FOR DISPUTES THAT QUALIFY FOR SMALL CLAIMS COURT, ALL DISPUTES ARISING OUT OF OR RELATED TO THESE TERMS, WHETHER BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STATUTE, FRAUD, MISREPRESENTATION OR ANY OTHER LEGAL THEORY, WILL BE RESOLVED THROUGH FINAL AND BINDING ARBITRATION BEFORE A NEUTRAL ARBITRATOR INSTEAD OF IN A COURT BY A JUDGE OR JURY AND YOU AGREE THAT WALLACE AND YOU ARE EACH WAIVING THE RIGHT TO TRIAL BY A JURY. YOU AGREE THAT ANY ARBITRATION UNDER THESE TERM WILL TAKE PLACE ON AN INDIVIDUAL BASIS; CLASS ARBITRATIONS AND CLASS ACTIONS ARE NOT PERMITTED AND YOU ARE AGREEING TO GIVE UP THE ABILITY TO PARTICIPATE IN A CLASS ACTION.
The arbitration will be administered by JAMS under its Comprehensive Arbitration Rules and Procedures (“Comprehensive Rules”).
The Comprehensive Rules are available online at www.jamsadr.com/rules-comprehensive-arbitration/. Any in-person appearances will be held in Chicago, Illinois. If circumstances are such that Chicago, Illinois is
not a feasible location, any in-person appearances will be held at a location which is reasonably convenient to both parties with due consideration of their ability to travel and other pertinent circumstances. If the parties are unable to agree on a location, such determination will be made by JAMS or by the arbitrator. The arbitrator’s decision will follow the terms and conditions of these Terms and will be final and binding. The arbitrator will have authority to award temporary, interim or permanent injunctive relief or relief providing for specific performance of these Terms, but only to the extent necessary to provide relief warranted by the individual claim before the arbitrator. To reduce the time and expense of the arbitration, the arbitrator will not provide a statement of reasons for his or her award unless requested to do so by all parties. The award rendered by the arbitrator may be confirmed and enforced in any court having jurisdiction thereof. An arbitration award and any judgement confirming it apply only to that specific case; it cannot be used in any other case except to enforce the award itself. Notwithstanding any of terms to the contrary in these Terms, nothing in these Terms will preclude you from bringing issues to the attention of federal, state, or local agencies and, if the law allows, they can seek relief against us for you. You can opt out of this Agreement to arbitrate by contacting support@wallacefinance.io within the 30-day period commencing upon the date of acceptance of this Agreement, stating that you (include your first and last name) decline this Arbitration Agreement.
WITH RESPECT TO ALL PERSONS AND ENTITIES, REGARDLESS OF WHETHER THEY HAVE OBTAINED OR USED OUR SERVICE FOR PERSONAL, COMMERCIAL, OR OTHER PURPOSES, ALL CLAIMS MUST BE BROUGHT IN THE PARTIES’ INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS ACTION, COLLECTIVE ACTION, PRIVATE ATTORNEY GENERAL ACTION, OR OTHER REPRESENTATIVE PROCEEDING. THIS WAIVER APPLIES TO CLASS ARBITRATION, AND, UNLESS WE AGREE OTHERWISE, THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS. YOU AND WE AGREE THAT THE ARBITRATOR MAY AWARD RELIEF ONLY TO AN INDIVIDUAL CLAIMANT AND ONLY TO THE EXTENT NECESSARY TO PROVIDE RELIEF ON INDIVIDUAL CLAIM(S). ANY RELIEF AWARDED MAY NOT AFFECT OTHER USERS. YOU AND WE AGREE THAT, BY ACCEPTING THESE TERMS, YOU AND WE ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY OR TO PARTICIPATE IN A CLASS ACTION, COLLECTIVE ACTION, PRIVATE ATTORNEY GENERAL ACTION, OR OTHER REPRESENTATIVE PROCEEDING OF ANY KIND.
Notwithstanding the foregoing or anything to the contrary in this Advisory Agreement, in no way shall this Advisory Agreement constitute a waiver or limitation of rights that the Client has under federal or state securities laws to pursue a remedy by other means if and to the extent such laws guaranty such right to the Client and do not permit the waiver thereof.
You acknowledge receipt of our Terms of Use, delivered electronically and available at www.wallacefinance.io and on the Wallace Platform, which sets forth the conditions for use of the Wallace Platform, all of which can be amended from time to time. The Terms of Use document is considered part of this Advisory Agreement.
You acknowledge receipt of our Brochure (the “Brochure”), our Client Relationship Summary (“Form CRS”), and our General Disclaimers delivered electronically and available at www.wallacefinance.io and on the Wallace Platform, which documents contain certain disclosures concerning brokerage practices, risk factors and potential conflicts of interest, all of which can be amended from time to time subject to law. The Brochure and Form CRS are also available on the Securities and Exchange Commission’s Investment Adviser Public Disclosure page on www.adviserinfo.sec.gov.
Your privacy is important to us. The information you provide to us, including your personal information, is subject to the terms of our Privacy Policy, which is available at www.wallacefinance.io and on the Wallace Platform. By entering into this Advisory Agreement, you acknowledge receipt of the Privacy Policy, which we can amend from time to time by posting new versions on the Wallace Platform.
For the Wallace Platform to work, we must share information between our companies, the Broker, Plaid and other third-party providers as necessary for the functioning of the Wallace Platform. We do not share your personal information with other outside sources.
Except as required by law or requested by regulatory authorities, we agree to maintain in strict confidence all of your nonpublic personal and financial information that you furnish to us, except for information that you agree to share publicly. You agree that you shall not use confidential information you receive from us for developing a service that competes with the Wallace Platform.
You consent to us recording and/or monitoring your telephone calls and electronic communications with our representatives and associated persons without further notice. You expressly authorize our representatives or associated persons to contact you for purposes of evaluating the offering of the advisory services, the Platform, and other products and services by calling, writing, or emailing at the telephone number(s), mailing address, and/or email address(es) you provide, including any additional or updated telephone numbers, mailing addresses, or email addresses.
The authorization in the preceding sentence will remain in effect unless and until you specifically revoke it by notifying us.
Headings in this Advisory Agreement are descriptive and for convenience only and shall not be construed as altering the scope of the rights and obligations created by this Advisory Agreement.
Failure of either party at any time to declare breach and termination of the Advisory Agreement due to any violation or violations by the other party of the provisions hereof will not be deemed a waiver on the
part of such party. Any subsequent violations by the other party following a demand for strict compliance shall not be deemed a waiver, expressed or implied, and notice of breach thereafter, need not be served on the other party.
If any provision of any of this Advisory Agreement or other agreement related to the Platform and your Brokerage Account is held unenforceable or invalid under any law, rule, or administrative or judicial order or decision, that holding shall not alter the enforceability or validity of this Advisory Agreement’s remaining provisions.
