WHOWEARE Vise is a Delaware limited liability company, registered with the SEC, that operates an investment advisory business that uses proprietary algorithms and other technological means for the provision of investment advisory services to other investment advisors and their individual Clients. Vise is a wholly-owned subsidiary of Vise Technologies, Inc., a Delaware corporation. Vise has been in the investment advisory business since July 2019.
Vise’s mission is to enable financial advisors (“Intermediaries”) to deliver better investment outcomes to their Clients while scaling their practice to their maximum potential.
WHATWEDO Vise offers investment advisory services to individual investors (“Clients”) exclusively through a sub advisory relationship with third-party registered investment advisors; and broker dealers (each an “Intermediary” and collectively, “Intermediaries”). The customers of Vise are Intermediaries that wish to have their Clients’ assets invested on the Vise platform.
Vise employs automated asset allocation, portfolio analysis, tax management, portfolio rebalancing, and security selection strategies to Intermediaries (the “Service”). The Service is available to both taxable advisory accounts and tax advantaged accounts not limited to individual retirement accounts (“IRAs”) and Roth IRAs (“Managed Accounts”). For certain strategies, Vise may rely on a sub-advisor. See Item 8 below for more information about these strategies.
As part of the Service, Intermediaries are granted access to Vise’s secure website as a tool to monitor and manage Client assets. The Intermediary will use Vise’s interactive, online platform to create and manage a desired investment strategy (the “Strategy”) for their underlying Clients.
Among other features, Vise’s platform allows Intermediaries to customize how much exposure to take with respect to specific factors such as value, dividend, size, and profitability for each Client account.
Vise bases its advice on Client investment objectives, restrictions, and preferences, as provided by Intermediaries and in accordance with the applicable Platform and Subadvisory Agreement (collectively, the “Governing Documents”).
Clients do not have direct access to the Vise platform and their assets are managed on Vise exclusively through the Intermediary. In some instances, however, financial advisors affiliated with our Intermediaries may personally manage their own assets directly on the Vise platform. At this time, Vise is intended for use only by investment professionals (on behalf of their Clients) and by certain other sophisticated investors (for use in their personal accounts) who have appropriate knowledge and experience and are able to bear the risks of loss associated with the use of the Vise platform.
In addition, Vise offers a custom enterprise solution tailored for large investment advisers, broker-dealers, and potentially other financial institutions. This solution is designed and customized for large Intermediaries seeking comprehensive portfolio management services.
Depending on the needs of the Intermediary, Vise can craft a solution that includes one or more of the following services: rebalancing, analytics, account transition, and tax

loss harvesting. Vise can also act as a sub-advisor for the Intermediary’s client accounts. Vise’s solution may use external investment allocations and security selection to enhance the flexibility and customization of the portfolio management process. As such, depending on the agreement between Vise and the Intermediary, Vise’s services may or may not involve the delivery of investment advice. Vise negotiates the fees for these services with each enterprise client.
TAX-LOSSHARVESTING For taxable accounts, Vise offers a Tax-Loss Harvesting (“TLH”) strategy. This strategy is used to defer and offset taxes while maintaining a similar risk and return profile for the portfolio. Vise identifies unrealized losses in the account, accelerating realization of the capital loss and then invests in securities to maintain a similar exposure in the portfolio. The realized capital loss offsets any realized gains in the account, by deferring tax liability. Another tax management functionality that Vise offers is capital gains budgeting. The feature allows Intermediaries to choose a custom budget depending on the Client's tax sensitivity (subject to platform limitations). The Intermediary has the ability to modify this for any Client at any time. If the Intermediary chooses not to implement the TLH strategy, Clients with taxable accounts may incur additional taxes in connection with capital gains on the account.
RESTRICTIONS An Intermediary should notify Vise of specific securities in which the Client is prohibited from investing. When instructed not to purchase certain securities, Vise will restrict that security from the Client’s investable universe. The Intermediary should notify Vise immediately if they consider any investments recommended or made for the Client account to violate such restrictions.
An Intermediary can instruct Vise at any time to restrict, or unrestrict, a security from the Client's investable universe.
INTERMEDIARYOBLIGATIONS In performing our services, Vise is not required to verify any information received from the Intermediary or from the Intermediary’s other professionals and is expressly authorized to rely on the information we receive. Moreover, each Intermediary is advised that it remains its responsibility to update the pertinent client information platform promptly if there is ever any change in its Client’s financial situation or investment objectives. Vise relies on the Intermediary to ensure we have this information so that we can review, evaluate and, if necessary, revise our previous recommendations or services.
At all times, the Intermediary, and not Vise, is responsible for maintaining the initial and ongoing relationship with the Client. In addition, the Intermediary, and not Vise, is responsible for: 1 determining the initial and ongoing suitability of the Strategy for the Client; 2 devising or determining the specific initial and ongoing desired Strategy; 3 monitoring performance of the Strategy; 4 modifying and/or terminating the management of the Client’s account using the Strategy; and 5 approval of the Strategy and recommendations.
ASSETSUNDERMANAGEMENT Vise managed approximately $637,888,300 in assets on a discretionary basis as of March 18, 2024.