Terms & Conditions

Purpose and scope

Who we are

These Terms & Conditions (“Terms”) govern the access to and use of the website, digital platform, and related tools and functionalities (collectively, the “Platform”) operated by pfolio GmbH, a company incorporated under the laws of Switzerland (the “Company”).

What the Platform does

‍The Platform enables users (“Users”) to analyse financial instruments, including exchange-traded funds and equities, and to create, view, and manage portfolios for informational, analytical, and investment-related purposes. The Platform does not place or execute transactions on behalf of Users and does not provide brokerage services.

Applicability of these Terms

‍These Terms apply to all Users who access or use the Platform. By accessing or using the Platform, Users acknowledge that they have read, understood, and accepted these Terms.

Territorial scope

The Platform and the Services are intended exclusively for Users domiciled in Switzerland. The Company does not target persons domiciled outside Switzerland. The Platform is not intended for use in jurisdictions where such use would be contrary to applicable law.

Contractual relationship

These Terms form the sole contractual basis governing the legal relationship between the Company and the User, unless expressly agreed otherwise in writing.

Regulatory status and User classification

Regulatory classification

The Company is classified as an investment advisor within the meaning of the Swiss Financial Services Act (FinSA).

Client advisor register

The Company and its client advisors are registered in the applicable Swiss client advisor register in accordance with FinSA.

Ombudsman affiliation

The Company is affiliated with FINOS as its ombudsman office, as required by applicable Swiss law.

User classification

All Users are classified as retail clients within the meaning of FinSA and benefit from the corresponding level of investor protection. No reclassification as a professional or institutional client is offered.

Services

Platform functionality

The Company provides a digital platform offering tools and functionalities that enable Users to analyse financial instruments and to create, view, and compare portfolios based on model-based methodologies.

User access levels

Access to certain functionalities of the Platform may depend on a User’s registration status, completion of onboarding processes, including investor profiling and risk assessments, and the applicable subscription tier.

Automated and model-based services

The Services are provided on an automated and model-based basis and rely on predefined rules, assumptions, data sources, and information provided by Users. The outputs generated by the Platform are subject to the limitations of the underlying models and the accuracy and completeness of the information provided.

No discretionary asset management

The Company does not provide discretionary asset management and does not place or execute transactions on behalf of Users.

Important disclaimers and investment risks

Public website content (advertising)

The content made available on the publicly accessible parts of the Platform, including articles and blog posts, constitutes advertising within the meaning of Article 68 of the Swiss Financial Services Act (FinSA) and is provided for informational purposes only. Such content does not constitute a public offer or solicitation to buy or sell any financial instruments and may not be relied upon for investment decisions.

Registered Users without investor profile

Information and tools made available to registered Users who have not completed an investor profile or the required onboarding process are provided for analytical and informational purposes only, do not constitute investment advice, and may not be relied upon for investment decisions.

Registered Users with investor profile

Portfolio allocations and other investment-related analyses made available to registered Users who have completed the required onboarding process, including risk and suitability assessments, and who have access under the applicable subscription tier, are provided within the scope of the investment advisory services offered by the Company under these Terms.

Investment risks

Investments in financial instruments involve risks, including the risk of loss of capital. The Company makes no representation or warranty as to the future performance of any financial instrument, strategy, or portfolio. Past performance and simulations are not indicative of future results.

User responsibility

Any investment decisions, including the implementation or replication of portfolio allocations in a User’s own brokerage account, remain the sole responsibility of the User.

User obligations

Accurate and complete information

Users are responsible for providing information that is accurate, complete, and up to date, including information provided during registration, onboarding, investor profiling, and risk or suitability assessments. Users must promptly inform the Company of any material changes to such information.

Review of information and outputs

Users are responsible for reviewing all information, analyses, portfolio allocations, and other outputs made available through the Platform and for assessing whether such information is appropriate in light of their individual financial situation, investment objectives, and risk tolerance.

Fees

Platform and service fees

Fees for access to and use of the Platform, including any subscription or advisory fees, are disclosed on the Company’s website on the applicable pricing page. Such fees apply in accordance with the selected subscription tier and the scope of Services used by the User.

Additional services

The Company may offer additional services, such as individual consultations or other supplementary services, upon request. Fees for such additional services will be agreed with the User separately before such services are provided.

Use of the Platform

Algorithmic models and system limitations

The Platform relies on automated, algorithmic, and model-based methodologies to generate analyses, portfolio representations, and other outputs. Such models are based on predefined rules, assumptions, and data sources and are subject to inherent limitations. The Company does not guarantee that the models or outputs will be complete, accurate, or suitable for all purposes.

Availability and maintenance

The Company aims to make the Platform available on a continuous basis but does not guarantee uninterrupted or error-free operation. Access to the Platform may be restricted or suspended temporarily due to maintenance, updates, technical issues, or circumstances beyond the Company’s reasonable control.

Liability

Limitation of liability

The Company’s liability is limited to the extent permitted by applicable Swiss law.

No liability for investment losses

The Company shall not be liable for any losses, damages, or costs directly or indirectly arising from investment decisions, market developments, or the performance of financial instruments or portfolios.

Liability not excluded

Nothing in these Terms shall exclude or limit the Company’s liability for intent (wilful misconduct) or gross negligence, or for any other liability that cannot be excluded or limited under applicable Swiss law.

Intellectual property rights

Ownership

All intellectual property rights in and to the Platform and the Services, including software, algorithms, models, data compilations, content, text, graphics, logos, and trademarks, are owned by or licensed to the Company.

Right of use

Users are granted a limited, non-exclusive, non-transferable, and revocable right to access and use the Platform solely for their personal use in accordance with these Terms.

Restrictions

Users may not copy, modify, distribute, reverse engineer, decompile, extract, or otherwise use any part of the Platform or its content except as expressly permitted by these Terms or applicable law.

Data protection

Processing of personal data

The Company processes personal data in accordance with applicable Swiss data protection laws, including the Swiss Federal Act on Data Protection (FADP), and, where applicable, the General Data Protection Regulation (GDPR).

Privacy Policy

Further information on the processing of personal data, including the categories of data processed, purposes of processing, and the rights of Users, is set out in the Company’s Privacy Policy, which forms an integral part of these Terms and is available on the Company’s website.

Term and termination

Commencement of the contractual relationship

The contractual relationship between the Company and the User commences upon the User’s acceptance of these Terms, which occurs when the User first accesses or uses the Platform or registers an account, as applicable.

Termination by either party

The User may terminate the contractual relationship at any time by discontinuing use of the Platform and, where applicable, terminating any active subscription. The Company may terminate or suspend the contractual relationship, in whole or in part, at any time for valid reasons, including material breaches of these Terms, legal or regulatory requirements, or operational reasons.

Consequences of termination

Upon termination, the User’s right to access and use the Platform and the Services ceases. Provisions of these Terms which by their nature are intended to survive termination, including provisions on liability, disclaimers, data protection, and governing law, shall remain in effect.

Complaints and ombudsman

Internal complaint handling

Users may submit complaints relating to the Services to the Company using the contact details provided on the Company’s website. The Company will review and handle complaints in an appropriate manner and within a reasonable timeframe.

Ombudsman procedure

If a complaint cannot be resolved through the Company’s internal complaint handling process, Users may submit the complaint to the Company’s ombudsman office, FINOS, in accordance with the Swiss Financial Services Act (FinSA). The ombudsman procedure is free of charge for Users and aims to facilitate an out-of-court settlement of disputes.

Final provisions

Amendments to the Terms

The Company may amend these Terms from time to time. Users will be informed of material changes in an appropriate manner. Continued use of the Platform after such changes enter into force constitutes acceptance of the amended Terms.

Entire agreement

These Terms constitute the entire agreement between the Company and the User with respect to the use of the Platform and the Services and supersede all prior or contemporaneous agreements, representations, or understandings, whether written or oral, relating to the same subject matter.

Survival

Provisions of these Terms which by their nature are intended to survive termination of the contractual relationship, including provisions on disclaimers, liability, data protection, complaints, governing law, and jurisdiction, shall remain in effect after termination.

Transfer to another organisation

The Company may transfer or assign these Terms and the contractual relationship with the User, in whole or in part, to another organisation, in particular in the event of a merger, acquisition, reorganisation, or transfer of assets, provided that such transfer does not materially reduce the User’s rights under these Terms. Users may not transfer or assign their rights or obligations under these Terms without the prior written consent of the Company.

Severability

If any provision of these Terms is held to be invalid, unlawful, or unenforceable, the remaining provisions shall remain valid and enforceable.

Governing law and jurisdiction

These Terms and any disputes arising out of or in connection with them are governed by substantive Swiss law. The exclusive place of jurisdiction is Cham, Switzerland, subject to any mandatory statutory provisions.