A. Description of the Advisory Firm
Streetbeat was founded on June 24, 2021. Additional information about Streetbeat is available on the SEC’s
websit
e at www.adviserinfo.sec.gov. You can search this site by using a unique identifying number, known
as a CRD number. The CRD number for Streetbeat is #315893. The SEC’s website also provides
information about any persons affiliated with Streetbeat who are registered, or are required to be registered,
as investment adviser representatives of Streetbeat.
Streetbeat is a registered investment adviser (“RIA”) which offers non-discretionary online advisory
services to its advisory clients (each a “Client,” and collectively, “Clients”) through an online web-based
and mobile platform (the “Platform”).
Streetbeat is a privately held company headquartered in Palo Alto, California. Streetbeat is wholly owned
by Nowcasting.ai, LLC. Information about Streetbeat’s organizational and ownership structure is provided
on Part 1 of Streetbeat’s Form ADV which is available onli
ne at www.adviserinfo.sec.gov.
Streetbeat operates an investment Platform available at
www.streetbeat.com (the “Website”) and as a
mobile application (“App”). When a Client opens an account (“Investment Account”) with Streetbeat, they
will be able to access the Investment Platform through either the App or the Website. The Platform provides
Clients with investment advice in the form of certain recommended single stocks and exchange-traded funds
presented to Clients as investment strategies (“Strategies” and each, a “Strategy”), specifically tailored and
designed for each Client based on the Client’s investment profile. The investments offered through the
Platform only include various publicly traded securities, such as exchange-traded funds (“ETFs”), and
shares of stock of publicly traded companies (“Single Stocks” and together with ETFs, “Investments”).
Each Strategy will be comprised of Single Stocks or ETFs. The Strategies are developed by Streetbeat’s
proprietary algorithmic model (the “Model”) that aggregates and utilizes various datasets that change over
time and processes them with AI to provide indications on certain stock trends and behaviors. These datasets
encompass a range of financial analysis factors, market conditions, and operational aspects related to
company stocks, among other considerations. This data is then combined with the Clients’ Suitability
Questionnaire in order to provide recommended Strategies for Clients. Please see Section B – Description
of the Advisory Services below for a more detailed look at the Strategies currently offered by Streetbeat, as
well as the data and information incorporated into each Strategy.
From time to time, the Strategies offered by Streetbeat may change. Streetbeat will communicate any
changes to you by updating this Brochure.
A Client may invest at their discretion in any one of the available Single Stocks or ETFs, or may invest in
the Strategy as a whole. When a Client invests in a Strategy as a whole, the Client will allocate a set amount
of funds towards their investment in the Strategy, and Streetbeat will obtain limited discretionary authority
to determine how to allocate the Client’s funds towards each of the Investments in the Strategy. The
Platform also provides content regarding finance and markets. Advisory services are delivered solely
through the Website and App. Streetbeat does not provide investment advice in person or over the phone
or in any manner other than through the Website and App. Additional information about Streetbeat’s
products and services is provided in Streetbeat’s Form ADV Part 1 available at
http://www.adviserinfo.sec.gov. Streetbeat encourages visiting the Website or the App for additional
information.
B. Description of the Advisory Services
Streetbeat provides non-discretionary investment advisory services (“Advisory Services”) to Clients solely
through the Platform. The Platform recommends one or more Strategies to each Client based on the Model
and on the information provided in the Suitability Questionnaire (“Suitability Questionnaire”) by each
Client. The Strategies are solely made up of Investments. All of the Investments will be presented as part
of a Strategy that the Client may choose to invest in, or as standalone Investments that the Client can invest
in on an individual basis.
When a Client chooses Streetbeat’s Advisory Services, the Client will be provided with certain
recommended Strategies. The Platform will provide new Strategies for Clients to choose to purchase on an
ongoing basis. New Strategies may be provided daily, weekly, or monthly, depending on the specific
Strategy. At their sole discretion, Clients may choose to purchase one of the recommended Strategies or
one of the Investments that make up the Strategy. The Platform currently relies on the Suitability
Questionnaire in recommending Strategies, however, the information provided in the Suitability
Questionnaire is not weighted equally. Clients should understand the recommendation of Strategies relies
on the Suitability Questionnaire, and Streetbeat does not capture any additional information not covered in
the Suitability Questionnaire in providing recommended Strategies to Clients. Clients are advised to
promptly update their financial information in the Suitability Questionnaire if there are any changes to their
financial situation or financial goals.
When a Client chooses to purchase a Strategy, the Client will be prompted to allocate a specific amount of
funds towards the purchase of the Strategy. The decision to purchase a Strategy and to the amount of funds
allocated towards the purchase is solely at the Client’s discretion. Once a Client has decided to allocate
funds towards and purchase a Strategy, Streetbeat will then obtain limited discretionary authority to allocate
the Client’s funds to the specific Investments that
make up the Strategy based on the Client’s risk tolerance,
investment goals and other information provided by the Client in the Suitability Questionnaire.
Additionally, Streetbeat will have limited discretionary authority to rebalance the allocation from time to
time and based on the Client’s provided responses to the Suitability Questionnaire. In order to sell their
position in a Strategy, Clients can reduce their allocated investment position to zero during market hours.
When a Client reduces their investment position to zero, Streetbeat will obtain limited discretionary
authority to sell and close out of the Client’s position in the Strategy during the next trading day at a time
that the Model determines is optimal.
In some scenarios, Streetbeat may decide to close, or phase out certain Strategies, after which they will be
unavailable for investment. If Streetbeat phases out a Strategy, Clients will be provided with 30-days written
notice prior to the Strategy being closed. Upon the phasing out of a Strategy, Clients will have the option
to (i) transfer their funds allocated to the phased-out Strategy, to an existing Strategy on the Platform, or
(ii) close out their Strategy position and liquidate their Investment positions within the phased-out Strategy
into cash positions.
Investment Strategy Generation:
Streetbeat provides Clients with the ability to generate their own personalized Strategies based on their
unique preferences and risk profiles (“Strategy Generation”). The Strategy Generation feature leverages
artificial intelligence (“AI”) tools and real-time market data, together with a Client’s inputs and previous
responses to the Suitability Questionnaire, to generate unique and tailored ETF portfolios. To utilize this
Strategy Generation feature, Clients will input unique prompts (either via text or audio) requesting an
investment strategy, market sector, or otherwise. The Strategy Generation feature will process the Client’s
prompt and leverage AI tools and market-data to generate appropriate Strategies for the Client to invest in
at the Client’s discretion.
In generating the responsive Strategies, the Strategy Generation feature will consider the Client's Suitability
Questionnaire and confine any responsive Strategy withing the bounds of the Client’s investment profile
and preferences such as their risk profile, declared income, place of residence for legal and tax matters,
current market conditions, and other relevant factors. The Strategy Generation feature will then curate a list
of potential responses and perform a consistency check before selecting up to 10 responses to present to the
Client. Each generated Strategy will also contain a description generated for each strategy. Clients may opt
to provide Streetbeat with limited discretionary authority to rebalance the generated Strategies on a periodic
basis.
Upon receiving the generated Strategies, Clients are able select, modify, or request additional Strategies.
Streetbeat will provide various financial and performance information relating to each generated Strategy.
Clients may save generated Strategies for future investment purposes which the Client can access at any
time.
General Use:
Interested parties may access the Platform at any time. This Brochure, which is available on the Platform
and on Streetbeat’s website, describes, among other things, Streetbeat, its services, potential fees and any
material conflicts of interest that could be reasonably expected to impair the rendering of unbiased and
objective advice. Streetbeat’s privacy policy is also provided for reference on the Platform. Both the
Brochure and the privacy policy are available to interested parties for their download and/or printing.
Clients may access the App or the Website in order to purchase or sell Strategies or Investments. When a
Client accesses their Investment Account, they will be provided with a list of Strategies that the Model
generates and determines are appropriate for a specific Client based on the information provided in the
Suitability Questionnaire. Clients have the option to purchase any of the Strategies or Investments provided
to them.
Brokerage:
The investments in each Client’s Investment Account are held in a separate account in the name of the
Client at an independent custodian, and not with Streetbeat. All Investment Accounts managed through the
Platform are provided with the option to use the custodian selected by Streetbeat, Alpaca Securities, LLC
(the “Custodian” or “Alpaca”), as the independent custodian. Alternatively, Clients may choose to link, via
API, a third-party brokerage account. However, Clients using a third-party broker as their custodian will
not be able to invest in Single Stocks, and will only receive recommended Strategies and the ability to use
the Strategy Generation feature. Additionally, Clients using a third-party broker will not be able to deposit
or withdraw funds through the App, and must conduct all deposits and withdrawals through their third party
broker as custodian of the Client’s funds. Each account agreement with the Custodian will grant Streetbeat
the authority to manage each Client’s Investment Account on a non-discretionary basis, seeking a Client’s
authorization for each trade, provided that Streetbeat be given the limited discretionary authority to allocate
Client funds to Investments in Strategies and to rebalance, buy and/or sell certain Investments depending
on the Strategy a Client has chosen to allocate funds towards. Please see Item 12 – Brokerage Practices –
for more information on how using a third party broker may change the services available to you.
C. Assets Under Management
As of December 31, 2023, Streetbeat managed $ 3,434,669 in client assets (“AUM”) on a non-discretionary
basis. This total AUM is calculated using the closing U.S. market prices from December 31, 2023. AUM
naturally fluctuates over time and disclosed AUM may be higher or lower at present date than as of the AUM
calculation date. Clients may request more current information at any time by contacting Streetbeat.