Customer Agreement
By creating an account and using Spendvest Corp’s robo-advisory services, you (‘Client’) agree to the following terms and conditions governing the investment advisory relationship between you and Spendvest Corp (‘SPE’).
I. Appointment of SPE
Client hereby appoints SPE as investment adviser for the Account. Client agrees to promptly notify SPE in writing of any changes to the information contained in the Investment Policy Statement or other information pertinent to the Account, and to provide SPE with prior written notice of any changes in the identity of persons authorized to act on behalf of Client with respect to the Account.
II. Services by SPE
By accepting this Agreement, SPE agrees to provide the following services:
Supervise and direct the investments of the Account in accordance with the investment objectives of Client.
Appraise and review investments of the Account.
SPE does not assume responsibility for the accuracy of information furnished by Client or any other person, including information contained in records maintained by SPE for its own purposes or made available to Client.
III. Authority — Discretionary Investment Management
Except as otherwise set forth in this Agreement, Client authorizes SPE to investigate, purchase, and sell on behalf of Client various securities and investments. SPE is authorized to execute purchases and sales of securities on Client’s behalf without consulting Client regarding each individual transaction.
IV. Client Accounts
Client has opened or will open an account with a custodian or other authorized third party (‘Custodian’) for the execution of securities transactions and custodial services. All funds and securities will be delivered between Client and the Custodian only. Client authorizes SPE to receive from the Custodian a copy of any agreement between Client and the Custodian in effect at any time with respect to the Account.
V. Service to Other Clients
SPE may perform investment advisory services for various clients on a non-exclusive basis. SPE may give advice and take action with respect to other clients that differs from advice given or action taken with respect to your Account. SPE has no obligation to acquire for your Account a position in any security that SPE, its principals, or employees may acquire for their own accounts or for any other client.
VI. Inside Information
SPE shall have no obligation to seek to obtain any material nonpublic (‘inside’) information about any issuer of securities. SPE shall not purchase, sell, or recommend for the Account the securities of any issuer on the basis of any such information as may come into its possession.
VII. Liability
SPE shall not be liable to Client for any independent acts or omissions by third parties. This Agreement does not create any third-party beneficiary rights.
VIII. Proxies
SPE will not seek nor accept voting authority for client securities. Clients will receive proxies directly from the issuer of the security or the custodian. All proxy questions should be directed to the issuer of the security.
IX. Fees
The compensation of SPE for services rendered is set forth in the Fee Schedule (Exhibit II). Client shall be given thirty (30) days’ prior written notice of any proposed increase in fees. Any fee increase requires an amendment or a new agreement signed by both parties.
X. Valuation
Securities listed on a national securities exchange or subject to current last-sale reporting will be valued at the amount reported on the Custodian statement. Securities not traded or not subject to last-sale reporting will be valued at the latest available bid price. Any other security will be valued in good faith by SPE and Client to reflect fair market value.
XI. Representations by Client
By accepting this Agreement, Client represents that: (a) the terms do not violate any obligation by which Client is bound; (b) if Client is an entity, this Agreement has been duly authorized and is binding; and (c) SPE is responsible only for assets in the Account and not for the diversification of any outside assets or holdings.
If your Account is for a pension plan, 401(k), tax-qualified retirement plan, or individual retirement account (IRA), Client additionally represents that SPE has been furnished true and complete copies of all documents establishing and governing the plan and evidencing Client’s authority to retain SPE. Client acknowledges being a named fiduciary with respect to the assets in the Account. If the Account contains only a portion of plan assets, SPE has no responsibility for diversification of the full plan’s investments.
XII. Representations by SPE
SPE represents and confirms that it is registered as an investment adviser or exempt from registration pursuant to applicable laws and regulations.
XIII. Amendment; Termination
This Agreement contains the entire agreement between the parties and may not be modified or amended except in writing executed by both parties. Client may terminate this Agreement within five (5) business days of acceptance without penalty or fee.
XIV. Notices
All notices shall be deemed duly given if transmitted to SPE at 34811 Heartland Ln, Murrieta, CA 92563, to the attention of its Chief Compliance Officer, and to Client at the address provided during account registration.
XV. Governing Law
The validity of this Agreement and the rights and liabilities of the parties shall be determined in accordance with the laws of the state in which Client resides, except to the extent preempted by ERISA or other federal or state laws.
XVI. Electronic Delivery
Client consents to receive via email or other electronic delivery method all communications from SPE, including but not limited to: account statements, trade confirmations, billing invoices, Form ADV brochures, privacy policy statements, and other notices. Client agrees to promptly notify SPE of any changes to their email address.
XVII. Assignment
No assignment of this Agreement may be made by any party without the prior written consent of the other party. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns.
XVIII. Confidentiality
All information and advice furnished by either party shall be treated as confidential and shall not be disclosed to third parties except as required by law or as described in SPE’s Privacy Policy Statement.
XIX. Death or Disability
If Client is a natural person, Client’s death, incapacity, disability, or incompetence will not terminate or change the terms of this Agreement. However, Client’s guardian, executor, attorney-in-fact, or other authorized representative may terminate this Agreement by providing written notice to SPE.
XX. Title to Assets
Client represents that assets in the Account belong to Client free and clear of any lien or encumbrances, except as otherwise notified to SPE in writing.
XXI. Market Conditions
Client acknowledges that SPE’s past performance and advice regarding client accounts cannot guarantee future results. As with all market investments, client investments can appreciate or depreciate. SPE does not guarantee or warrant that services offered will result in profit.
Exhibit II — Fee Schedule
SPE will not be compensated on the basis of a share of capital gains upon or capital appreciation of the funds or any portion of the funds of the Account. There is no account minimum.
Robo-Advisory Portfolio Management Fees
SPE provides robo-advisory portfolio management services via an online interface. The following subscription options are available:
- $9.99 per month
- $89.99 per year (includes a 14-day free trial period)
The 14-day free trial is available on the annual plan only. If the client cancels before the trial period ends, no charge will be applied. If the client does not cancel, the annual fee of $89.99 will be charged automatically at the end of the trial period.
Robo-advisory fees are automatically deducted from the client’s linked payment method, processed via Apple In-App Purchase. Fees are charged monthly in advance, depending on the selected plan.
Fixed fees collected in advance will be refunded based on the prorated balance of fees collected minus the number of days elapsed in the billing period up to and including the day of termination.
Exhibit IV — Investment Policy Statement
The Investment Policy Statement is completed during the account onboarding process and covers the following areas:
Personal Information: name, date of birth, and, if applicable, spouse’s name.
Income & Net Worth: annual household income, liquid net worth, residence value, illiquid assets, current income needs from investments, desired retirement age, and desired annual retirement income.
Risk Tolerance & Investment Objectives: acceptable short-term principal loss, desired annual rate of return, investment objective (capital preservation, income, growth, or aggressive growth), response to portfolio declines, and past behavior during market downturns (including the 2007–2009 period).
Investment Knowledge & Experience: self-assessed level of financial knowledge and years of experience with various investment types including mutual funds, stocks, bonds, options, ETFs, REITs, and limited partnerships.
Account Restrictions: any specific restrictions on the Account requested by Client.
By proceeding, you acknowledge that you have read, understood, and agree to this Agreement.