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Terms of Use

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Conflicts of Interest Policy

Investment Risk Disclosure Document

FINMA Special Risks Disclosure Document

VQF Rules of Conduct

Terms of Use

General

These Terms of Use set the general terms and conditions for using the website, http://www.simplewealth.ch (“this Website”).
This Website is owned and controlled by Simplewealth AG (CHE-324.715.255), Zurich, Switzerland (“Simplewealth”).
These Terms of Use apply if you use this Website as a visitor and/or as a client of Simplewealth. If you are a client of Simplewealth these Terms of Use also provide information relevant to the services (“Services”) provided by Simplewealth. By using this Website, you confirm your acceptance of these Terms of Use and you agree to be bound by them. These Terms of Use, as well as the content and information on this Website, may be amended or updated from time to time by Simplewealth, without notice. Simplewealth may also add features to, or remove features from, this Website at any time and from time to time in its sole discretion. Your continued access to this Website following any amendment or update to these Terms of Use will constitute your acceptance of the amended or updated Terms of Use. If you do not agree to these Terms of Use, you should stop using this Website.

Access Subject to Local Restrictions

Simplewealth provides asset management services in Switzerland only. Simplewealth’s services may not be available to all residents of all countries. Simplewealth’s services, including this Website and all content and information on it, are not directed at or intended to be used by any person resident or located in any country where: (1) such services and/or the distribution of such content or information is contrary to the laws of such country; or (2) such services and/or distribution of such content or information is prohibited without obtaining the necessary licenses or authorizations in that country and such licenses or authorizations have not been obtained.

Simplewealth Clients

Consulting this Website for information does not make you a client of Simplewealth, or constitute a customer relationship. Simplewealth does not have a duty or incur responsibility or liability towards you merely because you visit this Website. To become a client of Simplewealth you must complete the Simplewealth account opening process. This includes completing the online questionnaire that is available on this Website and signing a separate written Asset Management Agreement.

No advice

Information on this Website is provided for information purposes only.
Nothing on the public areas of this Website should be considered personal investment advice. Personal investment advice may be provided to clients in their user area of the Website only. Any personal investment advice is provided in the context of the client relationship only. Nothing on this Website is not intended to provide legal, accounting, financial or tax advice, and you should not rely upon in that regard. Please consult with your professional advisor with respect to your particular circumstances.

No offer of securities

Simplewealth provides asset management services. Once you become a client, you will authorize us to manage the money in your Simplewealth account. Accordingly, nothing on this Website is intended to be an offer to sell nor a solicitation of an offer to purchase any security.

Risk and rewards

Investing offers returns on your investment. The anticipated return or reward from investing corresponds to the level of risk taken. Although Simplewealth undertakes due care when preparing investment strategies and selecting an applicable investment strategy for your Simplewealth account, Simplewealth gives no guarantee, warranty, assurance or otherwise as to: (1) the future value, earnings, profitability, capital value or capital appreciation of your Simplewealth account; (2) any specific outcome in terms of the performance of any asset in your Simplewealth account; or (3) achieving your investment objectives. Investment decisions should not be based solely on the information on this Website. We recommend and encourage you to read our Investment Risk Disclosure Document below. You must carefully consider the appropriateness of investing in light of your own personal financial circumstances, including cash flow needs, tax circumstances, or other complex or subjective concerns. You should review your investing objectives on a regular basis to ensure that your investment strategy remains consistent with your investment objectives and current financial situation. You can discuss your investment objectives and investment strategy with us at any time.

Forward Looking Statements

This Website may contain statements that constitute “forward looking statements”. While such forward looking statements may represent Simplewealth’s future expectations, given that they are future expectations only, a number of factors and uncertainties could cause actual results to materially differ from those expectations. Simplewealth is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward looking statements whether as a result of new information, future events, or otherwise. There are risks to relying on such “forward looking statements”.

Data protection and privacy

Simplewealth takes the protection of your data and privacy seriously.
Simplewealth has a Privacy Policy which explains how personal data is collected on this Website, and from you, and how this is used. The Privacy Policy is part of these Terms of Use and is incorporated by reference. The Privacy Policy may be amended or updated from time to time by Simplewealth. You can read the Privacy Policy at https://www.simplewealth.ch/policy/.

Intellectual Property

Simplewealth and the Simplewealth logo are trademarks of Simplewealth AG. All rights reserved, © 2015-18. The content and information published on this Website and the structure and operating features of this Website are the property of Simplewealth. They are protected by copyright and trademark laws and other intellectual property rights. Unauthorized use or exploitation of the content published on this Website and the structure of this Website is strictly prohibited. You may not, reproduce, modify, transmit (by electronic means or otherwise), modify, link into, or use, this Website, or any part of this Website, for any public or commercial purpose without the prior written consent of Simplewealth. If you wish to use the content or information of, or link into, this Website, or the copyright or trademarks of Simplewealth, for any purpose, please contact us.

Links to other websites

This Website may contain links to other websites, content, or services that are provided by third parties and that are not owned or controlled by Simplewealth. These links are provided for your information, and for your convenience, only. Links to other websites, or links from other websites to this Website, should not be taken as Simplewealth’s endorsement or approval of such websites, the third parties named on those links, or their products and services. Simplewealth has not verified such websites and has no control over, and assumes no responsibility for, the accuracy of the content and information, privacy policies, or practices of any third party website or third party product and services. Simplewealth is not liable under any circumstances for any losses or damages whatsoever (including direct, indirect and consequential losses) caused or alleged to be caused by, or in connection with, accessing links to third party websites from this Website. No liability is assumed for incompatibility, non-suitability, viral infection or other destructive/disruptive components on or from such websites. You should read the terms and conditions and privacy policies of each third party website that you visit.

Your obligations

When you create a Simplewealth account on this Website, you must provide us with information that is accurate and complete. You must keep your details up-to-date, and current at all times. Failure to do so constitutes a breach of these Terms of Use and of the Asset Management Agreement. You are solely responsible and liable for any activity that occurs under your Simplewealth account on this Website. You are responsible for safeguarding the password that you use to access this Website or an associated third-party service. You should not disclose your password to any other person. If you become aware that there has been authorized use, or a breach of security, of your Simplewealth account, you must notify us immediately.

Client user area

Access to and use of password protected and/or secure areas of this Website are restricted to authorized clients only. Unauthorized persons attempting to access these areas of this Website may be subject to prosecution.

Prohibitions when using this Website

When accessing this Website, you agree not to do any of the following: • Use a robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, program, algorithm or methodology to access, acquire, copy or monitor the Website or any part of this Website. • Use or attempt to use any software, tool, engine, agent, or other device or mechanism (including browsers, robots, avatars or intelligent agents) to navigate or search this Website, other than (i) the search engines and search agents available through this Website, or (ii) third party search engines and third-party web browsers (such as Google or Microsoft Explorer). • Post or transmit any file in, on or through this Website that contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interfere with the proper working of this Website. • Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software comprising or in any way making up this Website or any part of it.

Communication

Simplewealth cannot guarantee complete confidentiality or security for information that is transmitted electronically. Ordinary e-mail messages sent over the internet may not be confidential or secure. When you communicate with Simplewealth by e-mail, Simplewealth cannot guarantee that the data sent will not be accessed or compromised, by third parties. The content of an e-mail may be transmitted across national borders, even if both sender and recipient are located in Switzerland. Communication via this Website is, however, secure and encrypted. By using this Website, or communicating with us via e-mail, you acknowledge that Simplewealth is not responsible for any losses or damages that you may suffer as a result of electronically transmitting information of a confidential or sensitive nature being transferred between you and us. Please refer to Simplewealth’s Privacy Policy for more information at https://www.simplewealth.ch/policy/.

No warranty

The use of this Website and the Services is at your own risk. The content and information on this Website is provided for personal use and for informational purposes only. This Website, together with all content and information is provided “as is” and “as available”, without any representations or warranties of any kind. This Website is subject to change without notice. Simplewealth has taken reasonable efforts to ensure that the content and information on this Website is accurate and reliable. However, errors may sometimes occur. Simplewealth is not under any obligation to update or keep current the content or information on this Website nor to remove any outdated information from this Website or to expressly mark it as being outdated. When determining the value of your Simplewealth account, Simplewealth uses reasonable efforts to obtain reliable information from third party sources. The value of your Simplewealth account is, however, provided on an “as is” basis without representation or warranty of any kind (neither express or implied) and Simplewealth disclaims liability where any valuation may not be accurate. Because Simplewealth is an internet-based asset manager, there are system risks including, but not limited to, the failure of hardware, software, and internet connection. It is possible that, on occasion, this Website cannot be available 24/7 and that there may be delays, inaccuracies, errors, interruptions or omissions in respect of information related to your Simplewealth account. Simplewealth expressly disclaims all express or implied warranties of any kind as to the content and information on this Website, in particular as to its accuracy, reliability, completeness and relevance. Simplewealth also does not warrant the timeliness, security, reliability or availability of this Website or that this Website will be available at all times, is virus-free or error-free.

No Liability

To the fullest extent permitted by law, in no event will Simplewealth or any of its directors, officers, employees, service providers or agents have any liability whatsoever to you or any person for any direct or indirect loss, liability, cost, claim, expense or damage of any kind, whether in contract or in tort, including negligence, or otherwise, arising out of or related to the use of all or part of this Website, or any links to third party websites. If you are a client of Simplewealth, your Asset Management Agreement sets out when Simplewealth may be liable to you under that agreement. You are responsible for ensuring that you have adequate and appropriate data security measures in place on your devices (such as computer and mobile phone) and that you act in accordance with good practice to protect yourself against fraud or cyber-attacks. Simplewealth specifically disclaims all liability from losses or liabilities suffered by you as a result of interference with your devices caused by unauthorised persons (including harm caused by viruses or attacks by hackers). Simplewealth and its officers, directors, employees, service providers or agents will not be liable in any event for any direct, indirect, incidental, special, punitive or consequential damages howsoever caused arising out of the use of this Website, this Website’s content or information, or the inability to use this Website. This disclaimer of liability applies to any and all damages or injury, including those caused by any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft, destruction, or unauthorized access, whether for breach of contract, tortious behavior, negligence or under any other cause of action.

Indemnification

You agree to indemnify and hold harmless Simplewealth and/or any of its directors, officers, employees, service providers or agents from and against any and all actions, proceeding, costs, liabilities, damages, claims and expenses, including reasonable legal fees, arising from or in connection with your use of this Website or a breach of these Terms of Use by you.

Severability Clause

If any provision of these Terms of Use is held to be invalid or unenforceable by any court, then that provision will be deemed to have been severed from these Terms of Use and the remaining provisions of these Terms of Use will remain in effect. The invalid or unenforceable provision(s) will be replaced by a substitute provision that best reflects the intention of the previous provision without being unenforceable.

Swiss law applies

These Terms of Use are governed by, and will be construed in accordance with, the substantive laws of Switzerland, to the exclusion of conflict of law principles. Any dispute arising out of or in connection with these Terms of Use will exclusively be referred to the courts competent for the City of Zurich, Switzerland.

Other Important Legal Information

Simplewealth is regulated in Switzerland

Simplewealth AG is registered in Zurich, Switzerland (CHE-324.715.255) (“Simplewealth”). Simplewealth is a member of, and is regulated by, the Swiss Financial Services Standards Organization Verein zur Qualitätssicherung von Finanzdienstleistungen (“VQF”). VQF is It is an Industry Organisation for Asset Managers (“IOAM”) and a self-regulatory organisation (“SRO”) for Swiss anti-money laundering purposes. The Swiss Federal Financial Market Supervisory Authority (“FINMA”) recognises VQF for both of these roles. Further information about VQF is available on its website: https://www.vqf.ch. Simplewealth’s membership number for the VQF IOAM is 100270. As a VQF IOAM member, Simplewealth is subject to, and must comply with, the “Rules of Conduct of the VQF IOAM for the Practice of Asset Management” (“VQF Rules of Conduct”). The VQF Rules of Conduct are recognized by FINMA. VQF supervises Simplewealth’s adherence to the VQF Rules of Conduct. The current VQF Rules of Conduct can be viewed on the VQF website: https://www.vqf.ch and on our website below VQF Rules of Conduct. The VQF Rules of Conduct may be updated from time to time.

Becoming a client

Asset management services are provided to Simplewealth clients only. To become a client of Simplewealth you must complete the Simplewealth account opening process. This includes completing the online questionnaire, signing a separate written Asset Management Agreement and funding your Simplewealth account. By signing the Asset Management Agreement, you appoint Simplewealth as the manager of your Simplewealth account. When providing information to us, you must ensure that is accurate, true and complete. We may ask you to provide additional or updated information about you or in connection with your Simplewealth account during the course of your client relationship with us. When you provide information to us as part of your account opening process, we will use that information to open an account on your behalf with Interactive Brokers. By completing the online steps to open your Simplewealth Account, you consent to us sharing your information with Interactive Brokers. You will be provided with the appropriate details to make payments into your Simplewealth account once you have signed and returned the Asset Management Agreement to Simplewealth. When you are a client you will become a “qualified investor” under certain Swiss laws. This means that Simplewealth may purchase ETFs that you may not be able to purchase as an individual investor investing on your own.

Your investment strategy

On becoming a client, Simplewealth will recommend an investment strategy to you. This takes into account your investment objectives, investment time horizon and risk profile determined from your online questionnaire. You may change your investment strategy at any time. Simplewealth offers a set of pre-determined investment strategies. These may be modified for you.

Your Simplewealth account

When you are a client you will hold an account with Interactive Brokers. This account is intended for investment purposes only. It will be managed by Simplewealth. This means that Simplewealth will buy and sell ETFs on your behalf. This account does not serve other purposes, such as being available for general payment or transaction services. Any cash or assets in your account, held with Interactive Brokers, are not deposits with, or liabilities of, Simplewealth. Simplewealth is appointed, and acts, as the manager of your account only. Your account will have a reference currency. Your reference currency will be noted in your user area of this Website. You can change your reference currency. Simplewealth may allow you to open a joint account with another person. Please contact us if this is of interest to you. The documents relevant to your Interactive Brokers account are made available to you through our online onboarding process.

Simplewealth’s management of your account

Simplewealth will manage your Simplewealth account pursuant to the investment authority provided in the Asset Management Agreement. Your investment authority grants Simplewealth the discretion to invest the cash and assets of your Simplewealth account within the agreed limits of your Investment Strategy. Simplewealth may also agree other limits with you. At times, Simplewealth may be required to convert funds in your Simplewealth account into a different currency. Any conversions will be made at the exchange rate applicable at the time of conversion. Simplewealth will not be responsible for any losses arising from movements in exchange rates.

Deposits and Withdrawals

Only you can make deposits into, and withdrawals from, your Simplewealth account. You can deposit as much as you like into your Simplewealth account, but your initial deposit must be at least CHF 6’000. You may make deposits into, and withdrawals from, your Simplewealth account of any amount at any time. However, unless you are terminating your Simplewealth account, you must maintain a minimum balance in your account of at least CHF 6’000. Withdrawals will only be made to a bank account in your name that is linked to your Simplewealth account. As your money is held with Interactive Brokers, it is possible that they may impose withdrawal restrictions in certain events.

Pillar 3A

In addition to an investment account, we can also manage your Pillar 3A. If you would like to transfer your Pillar 3A to us, just get in contact. We can make the process smooth and you can enjoy our low cost structure.

No minimum lock-up periods

The money invested in your Simplewealth account is not subject to any minimum lock-up time periods. You do not need to keep your money in your Simplewealth account for 30 days or 6 months. Unless you have invested your Pillar 3A with us, you can withdrawal your money at any time. Please note that once a withdrawal has been requested it, generally, may take up to 5 business days to transfer the money to you. This period allows for the time to confirm your instructions, to sell your ETFs and to transfer the funds back to your bank account. You should note that as your money is held with Interactive Brokers, it is possible that they may impose withdrawal restrictions in certain circumstances.

Management Fees

The management fee is 0.5% per annum (plus VAT, if applicable). This fee is calculated and paid monthly based on the total value of your Simplewealth account at the end of the preceding month. By signing the Asset Management Agreement you will authorise Simplewealth to directly debit this fee each month. The management fee is the only fee that you pay to Simplewealth. There are no additional custody costs, no trading costs when we buy or sell ETFs, no deposit or withdrawal costs and no additional administration costs.

Simplewealth receives no kick-backs or commissions

Simplewealth receives no third party benefits (such as retrocessions, kick-backs, finders fees, commissions or comparable third party benefit) from managing your Simplewealth account, including when it buys and sells assets on your behalf. In other words, it receives no third party benefits from any third party connected to the buying, selling or management of assets in your Simplewealth account (such as, banks, brokers, investment fund companies, issuers or the custodian). Nevertheless, in the event that Simplewealth should receive any third party benefit in connection with managing your Simplewealth account then Simplewealth will transfer that benefit to your Simplewealth account.

ETF costs

The ETFs in your Simplewealth account may charge internal fees or expenses. The internal fees or expenses of an ETF are managed by the manager of the ETF. Simplewealth is not the manager of any ETF. The internal fees or expenses are, in aggregate, generally, referred to as a “total expense ratio” or “TER”. Simplewealth aims to select ETFs that have low total expense ratios.

Annual Report and tax summary

Simplewealth clients will receive an annual report. In addition, Simplewealth clients can receive an annual tax summary for Swiss tax reporting purposes. The summary is for the calendar year ending 31 December. Simplewealth does not offer any non-Swiss tax summaries. If you live in another country and/or have tax obligations in another country, please consult your tax advisor. Simplewealth does not provide other reports to you. The performance of your account can be accessed 24/7 via the user section of our website.

Conflicts of Interest

Simplewealth has a conflicts of interest policy. You can read the Conflicts of Interest Policy below.

Disputes and complaints

Simplewealth is here to work for You. If You have any dispute or complaint about the services that are provided to You, please contact our CEO Jeremy Cohen at jeremy@simplewealth.ch who will act in good faith to try to resolve the matter.

Conflict of Interest Policy

Policy Statement

Simplewealth AG (“Simplewealth”) has adopted this Conflicts of Interest Policy (“Policy”) to prevent conflicts of interest arising between Simplewealth and its clients. Clients of Simplewealth are those who have signed the Simplewealth Asset Management Agreement that appoints Simplewealth as the manager of their account.
In accordance with Simplewealth’s values and applicable laws and regulations, Simplewealth is required to act with integrity and to manage conflicts of interest fairly. This Policy sets out the procedures and controls which help Simplewealth identify and appropriately deal with conflicts of interest - actual, apparent and potential. This policy is dated, and in effect from, 7 February 2018. It remains effective until a more recent version is released. Simplewealth reserves the right to amend or supplement this Policy at any time.

Preventing conflicts of interest

Conflicts of interest may arise if Simplewealth, or any person directly or indirectly controlled by Simplewealth (such as an employee) is likely to make a gain (financial or otherwise) at the expense of a client. Accordingly, Simplewealth has taken steps in creating its business model and systems to prevent conflicts of interest. These include:

  • Simplewealth makes each of its different standard portfolios available equally to all clients, prospective clients and to its employees;
  • Simplewealth’s portfolios are based around investing in ETFs, so there is no risk of investments being directed towards assets controlled by its employees or related parties;
  • Simplewealth does not reward its employees on the basis of trading volumes or derive fees or commissions from trading activities, so there is no unnecessary trading or “churning” in a client’s portfolio to derive fees;
  • Simplewealth receives no third party benefits (such as retrocessions, kick-backs, finders fees, commissions or comparable third party benefit) from managing a client’s account, or when it buys and sells assets on behalf of a client. Nevertheless, if Simplewealth does enter into a transaction on behalf of a client that results in a third party benefit to Simplewealth, Simplewealth will transfer that benefit to that client.

Managing conflicts of interest

Simplewealth has also established processes, procedures and organisational arrangements to manage other possible conflicts of interest that may arise. These include:

  • all employees are bound by professional confidentiality;
  • all employees are required to act with integrity and in compliance with Simplewealth’s policies and procedures;
  • all employees are obligated to immediately inform senior management of any circumstance which could give rise to a possible conflict of interest with a client;
  • all employees are not to use information acquired through working for Simplewealth to gain an improper advantage for themselves or any other person, or to cause detriment to a client;
  • senior management encourages an appropriate culture which emphasises the importance of ethical treatment of clients and the fair handling of conflicts of interest; and
  • all clients are to be treated fairly and with transparency.

Identification of conflicts of interest

We have identified the following conflicts of interest which cannot necessarily be prevented by Simplewealth:

  • Clients may be involved, or have an interest in, businesses which compete Simplewealth (or its employees).

Disclosure of conflicts of interest

Once a conflict of interest between Simplewealth and a client is identified by Simplewealth, Simplewealth will disclose that conflict to the client if Simplewealth considers that the measures it has established, or could establish, are not sufficient to avoid or manage such conflict of interest fairly.

Registration of conflicts of interest

Simplewealth maintains a list of the activities that could give rise to a conflict of interest and which may be detrimental to the interest of one or more clients. This list facilitates the management of conflicts of interest and possible conflicts of interest.

Employee and related persons personal trading

Given the nature of our business and services, a conflict of interest should not arise by an employee or related person (such as a shareholder) undertaking personal share trading activities. However, to prevent such conflicts of interest, employees must obtain approval from senior management for personal trading accounts. Approval (or rejection) of personal trading accounts is based on consideration of likely conflicts of interest and a desire to avoid any conflicts of interest.

Limitation

This Policy has been prepared to comply the VQF Rules of Conduct. It is not intended to create third party rights or duties, or to form any part of any contractual arrangement between Simplewealth and any client.

Investing Risk Disclosure Document

Please click this link to read our Investing Risk Disclosure Document

FINMA Special Risks Disclosure Document

Please click this link to read the Swiss Bankers Association document on Special Risks in Securities Trading

VQF Rules of Conduct

Please click this link to read the VQF Rules of Conduct

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