Altruist Corp
v20260629
These Hazel Terms of Use (these “Terms”), together with the Software Subscription Agreement (“SSA”) which is hereby incorporated herein by reference, the Privacy Policy, and any other terms and policies set forth herein (collectively, the “Agreement”) govern your and your Authorized Users’ use of the Assistant, as made available to you by Altruist Corp (“Altruist,” “we,” “us,” or “our”). Defined terms have the meanings given to them in Section 14 or the SSA.
IF YOU ARE ENTERING INTO THE AGREEMENT ON BEHALF OF A LEGAL ENTITY, YOU REPRESENT THAT YOU HAVE THE AUTHORITY TO BIND SUCH ENTITY TO THE AGREEMENT, IN WHICH CASE THE TERM “YOU” OR “ADVISER” REFERS TO SUCH ENTITY. IF YOU ARE AN INDIVIDUAL ACCEPTING ON BEHALF OF A LEGAL ENTITY, REFERENCES TO “YOU” OR “ADVISER” IN THE AGREEMENT REFER TO SUCH ENTITY, AND YOU PERSONALLY REPRESENT THAT YOU HAVE AUTHORITY TO BIND SUCH ENTITY. BY SELECTING “CONTINUE WITH GOOGLE,” “CONTINUE WITH MICROSOFT ACCOUNT,” “CONTINUE WITH APPLE,” “CONTINUE WITH MICROSOFT ENTERPRISE,” OR “CONTINUE WITH ALTRUIST,” COMPLETING THE REGISTRATION PROCESS, OR OTHERWISE BY LOGGING IN, ACCESSING, OR USING THE ASSISTANT, YOU ACKNOWLEDGE THAT YOU HAVE REVIEWED AND ACCEPT THE AGREEMENT AND THAT YOU HAVE RETAINED A COPY OF THE AGREEMENT FOR YOUR RECORDS. IF YOU DO NOT ACCEPT THE AGREEMENT, OR DO NOT HAVE THE AUTHORITY TO BIND THE ENTITY TO THE AGREEMENT, YOU AND YOUR AUTHORIZED USERS MAY NOT ACCESS OR USE THE ASSISTANT.
1. ACCESS AND USE OF ASSISTANT.
In addition to the access and use grants set out in Section 2.1 of the SSA, subject to and conditioned on your timely payment of Fees and compliance with all other terms and conditions of the Agreement, we hereby grant you a non-exclusive, non-transferable right to access and use the Assistant during the Term, solely for your internal use by Authorized Users in accordance with the Documentation.
2. YOUR RESPONSIBILITIES.
2.1 Acceptable Use; Monitoring.
(a) General Restrictions. You shall not, directly or indirectly, and shall not permit any Authorized Users: (i) to deceive, defraud, or mislead others, including by impersonating any person or entity, misrepresenting your identity or affiliation, or falsely implying endorsement by us or any other person or entity; (ii) to facilitate harassment, discrimination, violence, terrorism, abuse, threats, intimidation, or hateful conduct; (iii) to unlawfully discriminate against any individual or group based on any classification protected by Applicable Law; (iv) to use scraping, harvesting, data extraction, or any other automated or programmatic method to extract data from the Assistant; or (v) to use the Assistant for purposes of competitive analysis, the development, provision, or use of a competing software service or product, or any other purpose that is to Altruist’s detriment or commercial disadvantage.
(b) AI-Specific Use Restrictions. You shall not, directly or indirectly, and shall not permit any Authorized Users to: (i) access or use the Assistant or any AI Output to develop, train, or improve any other AI Technology; (ii) reproduce Training Data, engage in model extraction or distillation, or otherwise attempt to derive or gain access to any model, model weights and parameters, or other underlying AI Technology or component of the Assistant, in whole or in part; or (iii) submit any AI Input or generate any AI Output that is sexually explicit, obscene, or otherwise unlawful.
(c) Monitoring and Enforcement. We may monitor your use of the Assistant as reasonably necessary for security, abuse prevention, compliance verification, support, and investigation of suspected violations, subject to the confidentiality and data-use provisions of the Agreement.
2.2 Use of Assistant and AI Output. You are solely responsible for: (a) evaluating the suitability of the Assistant for your intended use; (b) your and your Authorized Users’ use and operation of the Assistant in accordance with relevant standards, including ensuring human oversight and monitoring; (c) providing detailed and accurate AI Input to the Assistant; (d) the actions and tasks performed by the Assistant, including configuring integrations, permissions, and approvals for the Assistant’s actions, monitoring the Assistant’s actions, regularly updating configurations, and ensuring appropriate guardrails are in place; (e) evaluating (including by human review) AI Output for accuracy, completeness, and other factors relevant to your use before using, distributing, or relying on the AI Output; (f) your decisions, actions, and omissions in reliance or based on the AI Output; and (g) mitigating harm caused by reliance on the Assistant. Altruist is not responsible for any damages, losses, or liabilities that could have been avoided or mitigated by your exercising oversight, performing your responsibilities under the Agreement, or following the recommended best practices set forth in the Documentation.
2.3 Third-Party Products. The Assistant may include, incorporate, or interoperate with third-party products, services, and AI Technology (collectively, “Third-Party Products”). Except to the extent expressly set forth in these Terms, Altruist does not warrant, endorse, or assume responsibility for any Third-Party Products. Your use of any Third-Party Products is at your sole risk and subject to any applicable third-party terms as described in the Documentation. You shall comply, and ensure that Authorized Users comply, with all such third-party terms, as such terms may be updated, modified, or added from time to time. Any exchange of data between you and any third-party provider is solely between you and such provider. Altruist is not responsible for any disclosure, modification, or deletion of AI Input, AI Output, or your data resulting from access by third parties to whom you have granted or otherwise permitted access. Altruist may cease providing any features designed to interoperate with Third-Party Products at any time without liability.
3. DESCRIPTION OF THE ASSISTANT.
3.1 Assistant. The Assistant is a generative artificial intelligence (“AI”)-powered agent offered by Altruist intended for investment advisers.
3.2 Features. The Assistant is designed to perform various tasks including the following: read and draft emails, create meeting agendas, join in-person or virtual meetings, record meeting content, generate transcripts, summarize key points, answer questions about accounts and portfolios of Advisers’ investment advisory clients (“Clients”), including accounts and portfolios held at Altruist Financial LLC (“Altruist Financial”), and create tasks and assign these items to Clients using AI Technology. It relies on underlying large language models provided by third parties (“LLM Providers”).
3.3 Tax Planning Mode. Hazel also has a tax planning mode (“Tax Planning Mode”) that can generate certain tax-specific insights based upon AI Input, including a Client’s tax forms, past tax returns, income, assets, and portfolio information.
4. CONSENT AND COMPLIANCE REQUIREMENTS.
4.1 Recording Consent and Notice. You agree to notify all meeting participants, including Clients, in advance if the Assistant will record a meeting, and to otherwise comply with all applicable federal, state, and local laws regarding recording conversations, including any requirements to obtain affirmative prior consent from all participants.
4.2 Data Access Authorization. In connection with your use of the Assistant, you authorize Altruist and the Assistant to Process all data you provide or make available, whether directly to the Assistant or through the applications and integrations that you enable, including: (a) email and calendar data; (b) data relating to Client accounts and portfolios, if any, held at Altruist Financial; and (c) Personal Information of your Clients and information about their trades, portfolio holdings, and account balances (“Client Account Data”).
4.3 Third-Party Data Sharing. You further acknowledge and agree that in using the Assistant, AI Input (including email and calendar data, meeting recordings and transcripts, Client Account Data, and tax-related documents and information) may be disclosed to Altruist’s service providers, including LLM Providers.
4.4 AI Disclosure Obligations. You may not present AI Output to Clients, end users, or other third parties as human-generated or original content and must provide any notice that such AI Output was AI-generated to the extent required by Applicable Law. You must: (a) disclose to Clients and other end users when they are interacting directly with the Assistant or viewing or receiving content generated by the Assistant, unless the AI Output has been reviewed and approved by an Authorized User before being shared with or displayed to the Client or third party; (b) when required by Applicable Law, provide a means for such Clients or end users to interact with a human instead of the Assistant; and (c) maintain, in your privacy notices, client agreements, or other client-facing disclosures (including as required by Applicable Law), language that accurately describes: (i) the use of AI-based tools to process Client data; (ii) the transmission of such data to third-party technology providers, including LLM Providers; (iii) the nature and purpose of such processing; and (iv) any other disclosures that are necessary for compliance with Applicable Law.
5. DATA ACCESS AND COLLECTION.
5.1 Email and Calendar Access. You acknowledge and agree that, as described in Section 4.2, upon connecting your email and/or calendar account(s), Altruist and the Assistant will have access to your email and/or calendar data including the contents of your mailboxes, email contents, meeting titles, descriptions, attendees and their contact information, and conferencing links.
5.2 Meeting Recording Process. If the Assistant is not enabled to automatically join your meetings, you may manually invite it to participate. When the Assistant joins your meeting, it will, after providing on-screen notice to all participants that the session is being recorded, immediately begin recording and capture audio and/or video (collectively, “Media”) through a third-party recording service vendor, and you may delete such recordings at any time through the Assistant. This content is transferred to a third-party transcription service vendor, which generates a transcript. After the transcript is created, it is sent to an LLM Provider to generate a meeting summary based on the transcribed content. If the Assistant is enabled to automatically join meetings, Adviser is responsible for ensuring that all meeting participants receive notice and, where required by Applicable Law, provide consent, prior to the start of the meeting, and in any event prior to the Assistant’s capture of any Media.
5.3 Client Account Data Access. If you choose to allow the Assistant to access Client Account Data, that will include, among other things, Personal Information of Clients and information about their trades, portfolio holdings, account balances, performance data, tax lot information, beneficiary information, and other account-level data.
6. DATA STORAGE, SECURITY AND RETENTION.
6.1 Data Storage. Media, transcripts, and summaries may be retained by Altruist to provide, operate, maintain, support, secure, and improve the performance of Altruist’s services or products, including the Assistant. Altruist will not use AI Input that includes Personal Information or Client Account Data, or AI Output generated from such AI Input, to train AI models unless Adviser has provided prior written consent describing the categories of data to be used and the specific purpose of such use. Notwithstanding anything herein to the contrary, anonymized or aggregated data that is not reasonably capable of being re-identified may be used by Altruist to improve the performance of its services or products, including the Assistant. All third-party vendors of products or services that are integrated into the Assistant are subject to contractual obligations regarding confidentiality, data protection, and security. For the avoidance of doubt, nothing in this Section 6.1 restricts Altruist’s rights under Section 6.5 of the SSA to use anonymized data for non-AI-training purposes.
6.2 Privacy Policies and Notices.
(a) Privacy Policy. Altruist complies with the Privacy Policy in providing the Assistant. The Privacy Policy is subject to change as described therein. By accessing, using, and providing information to or through the Assistant, you acknowledge that you have reviewed and accepted our Privacy Policy, and you consent to all actions taken by us with respect to your information in compliance with the then-current version of our Privacy Policy.
(b) Processing Consent. By accessing, using, and providing information to or through the Assistant, you acknowledge that you have reviewed and accepted our Privacy Policy and the AI Privacy Notice, and you consent to all actions taken by us with respect to your information in compliance with the then-current versions thereof.
6.3 Consumer Rights Requests. Altruist Processes Personal Information through the Assistant on behalf of, and at the direction of, Adviser. Adviser shall serve as the primary point of contact for any Client exercising rights under Applicable Law. Upon receipt of a verifiable consumer request that requires action by Altruist, Adviser shall promptly notify Altruist, and Altruist shall provide commercially reasonable assistance to Adviser in fulfilling such request within the timeframes required by Applicable Law, to the extent technically feasible. Altruist shall not independently respond to consumer requests unless required by Applicable Law or directed by Adviser.
6.4 AI Security Policies. Altruist has implemented and maintains policies and procedures for the development, use, and provisioning of AI Technology included in the Assistant consistent with Applicable Law and the Security Program described in Section 11.2 of the SSA.
7. AI INPUT; AI OUTPUT.
7.1 Content.
(a) Generated Content. The Assistant uses AI to generate documents such as meeting summaries, agendas, action items, task assignments, and draft emails based on transcribed meeting content, information retrieved from your connected email accounts, Client Account Data (if applicable), as well as responses to your prompts entered into a chat function (collectively, “Generated Content”).
(b) Tax Content. In Tax Planning Mode, the Assistant will generate tax planning insights, tax opportunity identification, scenario analyses, and client reports (“Tax Content”). Generated Content and Tax Content, together with any other answers/insights regarding accounts and portfolios generated by the Assistant, are collectively referred to as “AI Output.” For clarity, AI Output excludes Usage Data and Feedback.
7.2 No Warranty on Accuracy. AI Output may contain errors, omissions, or misinterpretations. AI Output is not a substitute for, among other things, official meeting minutes, regulatory recordkeeping, or human judgment. Altruist makes no warranty with respect to the accuracy or completeness of AI Output, and Adviser assumes all liability, including to Clients or any third parties, related to generation and use of AI Output.
7.3 AI Input Authorizations. In addition to Section 7.1 of the SSA, you represent, warrant, and covenant that, in respect of any data or other AI Input (including recordings or transcripts of meetings and emails) that you or your Authorized Users Process, provide, or make available to the Assistant (including for the purposes of generating AI Output in response to such data or other AI Input), you have and will maintain all necessary rights, licenses, notices, consents, and other authorizations (including from Clients, meeting participants, and any other third parties to which such data or other AI Input relates or belongs) required to comply with Applicable Law and such that the use and Processing of such data and other AI Input by Altruist in accordance with this Agreement does not and will not infringe or misappropriate any Intellectual Property Rights, or any privacy or other rights, of any third party or violate any Applicable Law.
7.4 Disclaimer of Warranties. AI OUTPUT IS PROVIDED “AS IS,” AND WE SPECIFICALLY DISCLAIM ALL WARRANTIES, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE. YOU ACKNOWLEDGE THAT, GIVEN THE NATURE OF THE ASSISTANT AND AI TECHNOLOGY, AI OUTPUT: (A) MAY BE INACCURATE, MISLEADING, BIASED, OR OFFENSIVE; (B) MAY BE THE SAME AS OR SIMILAR TO AI OUTPUT THE ASSISTANT GENERATES FOR OTHER ADVISERS; (C) MAY NOT QUALIFY FOR INTELLECTUAL PROPERTY RIGHTS PROTECTION; (D) MAY BE SUBJECT TO THIRD-PARTY TERMS, INCLUDING, AS APPLICABLE, OPEN SOURCE LICENSES; AND (E) DOES NOT NECESSARILY REFLECT, AND MAY BE INCONSISTENT WITH, OUR AND OUR THIRD-PARTY PROVIDERS’ VIEWS.
8. NO INVESTMENT OR TAX ADVICE.
The Assistant uses emerging AI Technology. It may provide inaccurate or offensive AI Output and is not designed for or intended to meet your regulatory, legal, or other obligations. Adviser acknowledges and agrees that: (a) AI Output does not constitute a recommendation of any security, account type, investment strategy, or tax strategy by Altruist, and, if relied upon or implemented, may not comply or enable compliance with Applicable Law; (b) AI Output does not constitute investment advice or tax advice; and (c) it will not treat any AI Output as such and that Adviser, not Altruist, retains all fiduciary responsibilities with respect to Clients and their accounts, including with respect to use of the Assistant and any AI Output.
9. FEES; CONNECTED ACCOUNTS.
9.1 Fees. The Assistant is subject to subscription fees disclosed on the Hazel Website (“Fees”). By using the Assistant, you agree to timely pay such Fees currently in effect when due.
9.2 Connected Accounts. Use of the Assistant requires integration with your Google Workspace, Microsoft, and/or Altruist account. By connecting your accounts, as described in Section 4.2, you authorize Altruist to access and store data associated with your calendar events (including event titles, descriptions, attendees, locations, and conferencing links), as well as email boxes, message content and metadata, in each case subject to the permissions granted through your enabled integrations, including for the purpose of enabling the Assistant’s functionality.
10. TERMINATION OF SERVICE.
Notwithstanding Section 5.2 of the SSA, Altruist may suspend or terminate access to all or any part of the Assistant at any time, with or without notice, without incurring any resulting obligation or liability. Adviser agrees to download, export, or otherwise locally save all Subscriber Data stored on or within the Software prior to any expiration or termination of the Agreement. Following any such expiration or termination, Altruist may permanently delete such Subscriber Data, unless otherwise required by Applicable Law.
11. UPDATES TO TERMS.
We may update these Terms at any time and at our sole discretion by posting the amended version on the Hazel Website. Continued use of the Assistant after the effective date of any changes will constitute your acceptance of the revised Terms.
12. INDEMNIFICATION.
12.1 Your Indemnification Obligation. In addition to your indemnification obligations under Section 8.4 of the SSA, the Losses and Claims for and against which you agree to indemnify Altruist and its officers, directors, managers, and employees expressly include those arising out of or relating to your use of the Assistant, use of AI Output, or breach of Applicable Law.
12.2 Indemnification Exclusions. In addition to the exclusions set out in Section 8.2 of the SSA, our indemnification obligations under Section 8.1 of the SSA will not apply to the extent that any such Loss or Claim arises from: (a) your or any other Authorized Users’ use of the AI Output in combination with any products, services, or software not provided by us, including as prompts or inputs to any AI Technology; (b) modifications to the AI Output other than by us; (c) AI Input or other data you provide other than AI Output; (d) your disablement or circumvention of any applicable source citation, filtering, or safety tools or functions of the Assistant; and (e) trademark violations resulting from your use of the AI Output in trade or commerce.
13. ADDITIONAL TERMS.
13.1 Other Altruist Services. Advisers enrolling in the Assistant remain subject to all other terms and conditions provided in the agreements governing their use of our Altruist services. Advisers further acknowledge that they may, in the future, receive supplemental disclosures, terms, and agreements pertaining to certain features or services.
13.2 Relationship with SSA. Except as expressly stated herein, nothing in these Terms shall be construed to limit, modify, waive, or otherwise affect any rights, remedies, obligations, or liabilities under the SSA. In the event of a conflict between these Terms and any other terms in the Agreement, these Terms control solely with respect to the subject matter of these Terms. When interpreting the terms of the SSA with respect to these Terms, “Software” as defined in the SSA includes the Assistant, “Services” as defined in the SSA includes the “Assistant” and related services provided hereunder, and “you”, “your” or “Subscriber” as defined in the SSA refers to you.
14. DEFINED TERMS.
14.1 “AI Input” means any information (including Personal Information, Client Account Data, and other information relating to Clients, meeting participants, and other individuals), data, materials, text, prompts, images, works, code, or other content that is input, uploaded, or submitted by or on behalf of you or any Authorized User to or through the Assistant, including prompts entered into Hazel chat; connected email and calendar data; meeting audio/video and transcripts; client account data; tax and financial documents; information accessed from your Altruist account; and CRM and custodial data. For clarity, AI Input excludes Usage Data and Feedback.
14.2 “AI Technology” means any and all machine learning, deep learning, and other artificial intelligence technologies, including statistical learning algorithms, models (including large language models), neural networks, and other AI tools or methodologies, all software implementations of any of the foregoing, and related hardware or equipment, in each case capable of generating content (including text, images, video, audio, or computer code) taking into account user-supplied prompts.
14.3 “Assistant” means the “Hazel” service provided by Altruist or any of its affiliates as further described in the Documentation and the Hazel Website and, if applicable, your Order Form.
14.4 “Hazel Website” means the website located at hazel.ai, or any successor or replacement thereof.
14.5 “Order Form” means an ordering document or online order entered into between Adviser and Altruist that references these Terms and identifies the Assistant as the subject thereof, including any permitted number of Authorized Users, the subscription tier, edition, package or other service plan, the functionality or feature set made available thereunder, the applicable support services or support level, usage limits, and any applicable usage commitments, entitlements, or overage rates.
14.6 “Privacy Policy” means Altruist’s Privacy Policy, a current version of which is located at altruist.com/legal/privacy-policy, as may be amended from time to time.
14.7 “Software Subscription Agreement” means Altruist’s Software Subscription Agreement, a current version of which is located at altruist.com/legal/software-subscription-agreement, as may be amended from time to time.
14.8 “Training Data” means any and all information, data, materials, text, prompts, images, code, and other content that is used by or on behalf of Altruist to train, validate, test, retrain, fine-tune, or improve any AI Technology incorporated into or used with, in connection with, or in support of the Assistant, except for AI Input and AI Output.