Algorithm Updates and Limitations

‍Algorithm Updates and Limitations Disclosure 

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‍Effective as of January 22, 2025 (the “Effective Date”)

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‍Our firm utilizes proprietary algorithms to manage client portfolios and provide automated investment advice. We are committed to continuously improving our technology to serve you better. However, it is crucial that you understand the potential implications of these improvements and the inherent limitations of algorithmic investing. 

We may periodically update, modify, or enhance the algorithmic code that powers our investment recommendations and portfolio management. These changes to our algorithm may materially affect your investment portfolio, including adjustments to asset allocation, changes in security selection criteria, modifications to rebalancing frequency or thresholds, and updates to risk assessment methodologies. Such changes could potentially result in increased trading activity in your account, shifts in sector or geographic exposures, and alterations to the types of securities held in your portfolio. While we strive to improve our services, there is no guarantee that algorithm changes will result in better performance or reduced risk for your specific portfolio. 

It's important to understand that our algorithms rely on historical data and statistical models to make predictions and decisions. These models may not always account for unprecedented market conditions or changes in economic environments, which could lead to incorrect predictions or suboptimal investment decisions. Additionally, while our algorithms are designed to make decisions based on patterns and trends, they may not respond appropriately during times of heightened market volatility or unexpected events, potentially resulting in losses or missed opportunities during turbulent market conditions. There is also a risk that our algorithms may become too focused on historical data, leading to situations where the model performs well on past data but fails to predict future market movements accurately, resulting in strategies that do not adapt well to changing market conditions. 

Furthermore, while our algorithms can process data quickly and without emotion, they lack the nuanced judgment that human investment professionals can apply in complex or unprecedented situations. This reliance on purely mathematical models may not fully capture factors like geopolitical risk, regulatory changes, or other qualitative considerations that could impact investment performance. It's also important to note that our algorithmic investment process is dependent on technology, including software and hardware infrastructure. Any malfunction, glitch, or cyberattack could cause unexpected disruptions or errors in investment decisions, potentially impacting your portfolio. 

We may not provide advance notice of specific algorithm changes, as these are considered proprietary. However, our investment team regularly reviews and oversees the performance and operation of our algorithms to ensure they align with our investment philosophy and your stated objectives. We encourage you to regularly review your investment objectives and risk tolerance, and to contact us if you have any questions or concerns about your portfolio or our algorithmic investment process.

By continuing to use our robo-advisory services, you acknowledge and accept that changes to our algorithmic code may occur and could have a material impact on your investment portfolio. You also acknowledge the inherent limitations and risks associated with algorithmic investing.