Terms of Service

By accessing or using Brief Capital at brief.capital (“Service”), operated by Brief Capital Inc. (“Brief,” “we,” “us,” or “our”), you agree to be bound by these Terms of Service (“Terms”). If you disagree with any part of these terms, you may not access the Service.

Brief Capital provides an AI-powered investment agent that:

• Manages a discretionary equity portfolio on your behalf through your connected brokerage account
• Executes buy and sell orders based on market conditions, technical analysis, and your personal financial persona
• Delivers daily plain-language briefings summarizing portfolio activity and performance
• Accepts natural language instructions to adjust strategy, risk tolerance, and preferences

Brief connects to your brokerage account via Alpaca Markets. We never custody your funds — all assets remain in your name at your brokerage.

Brief Capital is not a registered investment adviser, broker-dealer, or financial planner. The Service provides automated portfolio management based on algorithms and artificial intelligence. It does not constitute personalized financial advice.

• Past performance does not guarantee future results
• All investing involves risk, including the potential loss of principal
• AI-generated trading decisions may be incorrect or result in losses
• You are solely responsible for your investment decisions and outcomes
• The Service is not a substitute for professional financial advice

Account Registration

• You must provide accurate, complete, and current information during registration
• You are responsible for safeguarding your account credentials
• You must notify us immediately of any unauthorized use of your account
• You must be 18 years or older to create an account

Brokerage Connection

• You authorize Brief to execute trades in your connected Alpaca brokerage account
• You may revoke brokerage access at any time through your account settings or directly through Alpaca
• Brief operates within the constraints of your financial persona and risk parameters
• You are responsible for maintaining sufficient funds in your brokerage account

During onboarding, you define a financial persona that governs all trading decisions — including time horizon, risk tolerance, sector exclusions, position limits, and approval thresholds.

• Brief will not trade outside your defined constraints without explicit approval
• Trades exceeding your approval threshold require your confirmation before execution
• You may update your persona at any time using natural language instructions
• You are responsible for ensuring your persona accurately reflects your intentions

Permitted Uses

• Managing your personal investment portfolio through the Service
• Reviewing briefings, trade history, and performance data
• Adjusting strategy and preferences via natural language

Prohibited Uses

You may not use the Service to:

• Engage in market manipulation, insider trading, or any illegal trading activity
• Manage accounts on behalf of others without proper authorization
• Attempt to gain unauthorized access to our systems or other users’ data
• Reverse engineer, decompile, or extract our proprietary algorithms or AI models
• Circumvent trading guardrails, risk limits, or approval requirements

Your Data

• You retain all rights to your financial persona, preferences, and personal information
• Trade data generated by the Service on your behalf remains your property
• You grant us a limited license to process your data solely to provide the Service

Our Processing Rights

• We may process your data to provide, maintain, and improve the Service
• We use aggregated, anonymized performance data for platform improvement
• We do not sell your financial data or share it with third parties for marketing purposes

Subscription

• Service fees are billed according to your selected subscription plan
• The paper trial period is free — no credit card required
• All fees are non-refundable except as expressly stated in these Terms
• Fees may be adjusted with 30 days written notice

Performance Fee

• A performance fee may apply to returns above a high-water mark, as described in your plan
• Performance fees are calculated monthly based on auditable portfolio data
• The high-water mark ensures you are never charged performance fees on recovered losses

• We strive to maintain reliable uptime but cannot guarantee uninterrupted service
• Trading is subject to market hours and brokerage availability
• We are not liable for losses resulting from service interruptions, market outages, or brokerage downtime
• Material changes to the Service will be communicated with at least 30 days advance notice

THE SERVICE IS PROVIDED “AS IS” WITHOUT WARRANTIES OF ANY KIND.

• We do not warrant that the Service will be error-free, profitable, or uninterrupted
• We do not guarantee the accuracy or success of AI-generated trading decisions
• Our total liability shall not exceed the fees you paid in the 12 months preceding the claim
• We are not liable for indirect, incidental, special, or consequential damages
• We are not liable for investment losses, missed opportunities, or market movements

You are responsible for verifying trade activity and maintaining oversight of your portfolio. You assume all risk for investment outcomes.

You agree to indemnify and hold harmless Brief Capital, its officers, directors, employees, and agents from any claims, damages, or expenses arising from your use of the Service, your violation of these Terms, or your violation of applicable laws or regulations.

By You

• You may terminate your account at any time through your account settings
• Upon termination, all open positions remain in your brokerage account — we do not liquidate on exit
• You remain responsible for any outstanding fees

By Us

We may terminate or suspend your access if you violate these Terms, fail to pay fees, or engage in activities that harm the Service or other users.

• The Service integrates with Alpaca Markets for brokerage, Polygon.io for market data, and Stripe for billing
• Your use of third-party services is governed by their respective terms
• We are not responsible for third-party service availability or performance

These Terms are governed by the laws of the State of Delaware. Disputes will first be addressed through direct communication at legal@brief.capital, followed by mediation, and if necessary, binding arbitration. You waive rights to participate in class action lawsuits.

For questions about these Terms:

legal@brief.capital