Atlas is an experimental, self-serve educational research tool. It does not and will not provide investment advice, financial planning, tax advice, legal advice, or any recommendation to buy, sell, hold, trim, rotate, harvest, or take any other action with respect to any security or asset. Information displayed may be inaccurate, incomplete, delayed, or simply wrong. Past performance is not indicative of future results. You are solely responsible for every investment decision you make.
1. What Atlas is
Atlas is a software tool that reads trade-ledger data you upload, applies mechanical calculations (standard portfolio math, statistical summaries, historical stress tests, factor regressions), and presents the results in a structured report (a “tearsheet”). Some sections include narrative commentary generated by a large language model. Everything Atlas produces is general, impersonal analysis of information you provided and is made available for educational and research purposes only.
Atlas is offered as a bona fide publication of general and regular circulation, directed to a general audience of sophisticated investors. Atlas does not issue personalized recommendations, does not take custody of assets, does not execute trades, and has no knowledge of your broader financial situation, tax position, risk tolerance, dependents, insurance, or any other personal circumstance relevant to an actual investment decision. Its outputs are no substitute for the advice of a licensed professional who knows your complete situation.
2. What Atlas is not
- Not a registered investment adviser (RIA) under the Investment Advisers Act of 1940 or any state analog.
- Not a broker-dealer under the Securities Exchange Act of 1934.
- Not a bank, trust company, custodian, or money-transmission service.
- Not a certified financial planner, CPA firm, tax preparer, or enrolled agent.
- Not an attorney or law firm; nothing here is legal advice.
- Not an insurance agent, actuary, or ERISA fiduciary.
- Not a fiduciary to you under federal or state law.
- Not subject to Regulation Best Interest (Reg BI), which governs broker-dealers — because Atlas is not a broker-dealer and does not make securities recommendations within the meaning of Rule 15l-1.
2A. Atlas is not your brokerage, your robo-adviser, or your financial planner
To remove any possible ambiguity: Atlas does not perform the functions performed by a brokerage firm, an introducing broker, a clearing broker, a robo-adviser, an automated investment advisory program, a financial-planning firm, or a registered representative. By way of non-exhaustive example, Atlas is not, and is not affiliated with:
- Self-directed brokeragessuch as Fidelity Investments, Charles Schwab & Co., Vanguard Brokerage Services, Merrill Edge, E*TRADE from Morgan Stanley, Robinhood Financial, Webull, Public.com, M1 Finance, SoFi Invest, Tastytrade, Interactive Brokers, TradeStation, or any successor or affiliate of the foregoing. Unlike those firms, Atlas does not hold securities or cash, does not maintain SIPC or FDIC coverage, does not issue a Form 1099-B, does not produce official trade confirmations or monthly statements, does not route or execute orders, does not provide a bid/ask or quote, does not lend securities, and does not extend margin credit.
- Wealth-management and full-service firms such as Merrill Lynch, Morgan Stanley Wealth Management, UBS, Edward Jones, Raymond James, J.P. Morgan Private Bank, Goldman Sachs Personal Financial Management, or Wells Fargo Advisors. Unlike those firms, Atlas does not assign you a registered representative, does not conduct a Reg BI suitability analysis, does not deliver a Form CRS, and does not recommend any specific security to any specific client.
- Robo-advisers and automated investment programs such as Betterment, Wealthfront, Schwab Intelligent Portfolios, Fidelity Go, Vanguard Digital Advisor, Vanguard Personal Advisor Services, Acorns, Ellevest, or Empower (formerly Personal Capital). Unlike those programs, Atlas is not an investment-advisory program, does not implement a target allocation on your behalf, does not rebalance or harvest losses automatically, does not charge an advisory fee tied to assets under management, and does not have discretion over any account.
- Tax and accounting servicessuch as TurboTax, H&R Block, Intuit ProConnect, Drake, or any CPA firm. Atlas does not file returns, does not produce IRS-grade Form 8949 or Schedule D output, does not perform corporate-action lot adjustments, and does not reconcile against broker-issued 1099-B. Always rely on your broker’s official tax documents and your tax professional, not Atlas, for tax filings.
Brand and firm names appear above solely as illustrative examples of the categories of regulated business that Atlas does not operate. Such use is nominative and is not intended to suggest affiliation, endorsement, or sponsorship.
3. No-recommendations policy
By design, Atlas does not make recommendations. Every view in the product — including AI-generated commentary (the “Atlas Brief”), rules-based “signals,” tax-loss harvesting “candidates,” rebalancing “illustrations,” stress tests, factor loadings, asset location scoring, and every other analytic — is offered as informational output only. Nothing in Atlas tells you what to do. Language that appears directive (“candidates,” “illustrations,” “trim,” “rebalance”) is descriptive vocabulary for the computed output, not an instruction to act. If any section of the product appears to be suggesting an action, treat that appearance as a bug, not a feature, and do not rely on it.
For the avoidance of doubt: products such as Schwab Intelligent Portfolios, Fidelity Go, Vanguard Personal Advisor Services, Wealthfront, Betterment, and Empower act as registered investment advisers and do make personalized recommendations or manage assets on a discretionary basis. Atlas does not. If you want a recommendation, hire one of those firms or another licensed professional. Atlas is a calculator and a journal, not an adviser.
4. No-reliance clause
You agree that you will not rely on any output of Atlas as the sole or primary basis for any investment, tax, or financial decision. Before acting on anything you see here, verify the underlying numbers against your brokerage statements and obtain advice from a licensed professional (RIA, CFP, CPA, or attorney as applicable) who has reviewed your complete personal and financial circumstances.
5. Hypothetical, simulated, and backtested results
Several Atlas features — the What-If Simulator, Rebalance Illustrations, stress scenarios, factor regressions, rolling metrics, and “what would have happened” equity curves — produce hypothetical performance based on historical data and/or synthetic trades applied to a hypothetical ledger.
Hypothetical performance does not reflect actual trading and has inherent limitations, including that it is prepared with the benefit of hindsight. Hypothetical results do not reflect the impact of material economic and market factors on decision-making, transaction costs, bid-ask spreads, liquidity constraints, taxes, slippage, lot selection at a real broker, or the behavioral pressures actual trading involves. Results shown would be different, and could be materially worse, had they been generated in real time with real money. No representation is made that any account will or is likely to achieve results similar to those shown.
Past performance, historical stress-test figures, factor loadings, and backtested analytics are not indicative of future results. Markets can and do behave in ways no historical window anticipates. All investment involves risk, including the possible loss of principal.
6. Market data may be wrong, delayed, or missing
Atlas sources market data from public endpoints (including but not limited to Polygon.io and Yahoo Finance via the yfinance library and FRED). That data may be delayed, stale, split- or dividend-adjusted inconsistently, entirely missing, or outright incorrect — especially for illiquid, international, over-the-counter, recently listed, delisted, or corporate-action- affected securities. Option prices, implied volatilities, and Greeks are computed using standard Black-Scholes assumptions, which do not hold in reality. Atlas makes no warranty as to the accuracy, completeness, timeliness, or fitness-for-purpose of any data displayed.
Prices shown in Atlas are notreal-time, are not a quote, and are not a representation that any security can be purchased or sold at the displayed price. They are not a substitute for the consolidated last-sale and quotation feeds your brokerage (e.g., Fidelity, Schwab, Vanguard, Robinhood, Merrill Edge, E*TRADE, Interactive Brokers) provides as part of an executable trade ticket. Always verify any price, position quantity, cost basis, or balance against your brokerage’s official statement, trade confirmation, or in-app quote screen before placing an order or relying on a number for tax, financial, or estate-planning purposes.
7. Your inputs drive every result
Atlas computes on the trade ledger you upload (or manually enter). If your ledger is missing trades, contains typos, misstates fees, misclassifies accounts, uses incorrect symbols, or fails to reflect corporate actions, every downstream number will be wrong. We do not audit, verify, or reconcile your ledger against any external source. You are solely responsible for data integrity.
8. Tax information is not tax advice
Atlas surfaces tax-adjacent analytics: tax lots, short-term versus long-term classification based on ledger dates, realized gain/loss tallies, tax-loss harvesting “candidates,” wash-sale flags based on visible trades, asset-location scoring, and estimated federal tax impact on rebalancing simulations. All of these are generic computations on the data you provided and are not tax advice. Specifically:
- Wash-sale detection is limited to trades visible in the ledger you uploaded. It cannot see trades in accounts at other brokerages, in your spouse’s accounts, in IRAs (where wash-sale rules still apply across taxable/IRA pairs per IRS Rev. Rul. 2008-5), or in entities you control.
- Tax estimates do not model state income tax, the Net Investment Income Tax (3.8%), the Alternative Minimum Tax, Qualified Business Income interactions, Section 1256 mark-to-market rules, foreign tax credits, or Section 1091 complications.
- Estimated federal tax is a rough projection using rates you supply. Your actual tax liability will differ, often substantially, based on your full tax picture.
- Cost-basis method selection at your broker (FIFO, HIFO, specific identification) may differ from Atlas’s default matching and will produce different realized gain/loss figures.
- Your brokerage (e.g., Fidelity, Schwab, Vanguard, Robinhood, Merrill Edge, E*TRADE, Interactive Brokers) is the authoritative source for tax-lot accounting, wash-sale tracking within that brokerage, and the IRS Form 1099-B you must use when filing returns. Atlas does not generate Form 8949, Schedule D, Schedule B, or any other IRS form, and Atlas’s lot matching is not guaranteed to align with the basis your broker reports to the IRS.
Consult a qualified tax professional (CPA, enrolled agent, or tax attorney) before acting on any tax-adjacent signal, and rely on your broker’s 1099-B — not Atlas — for filing.
9. AI-generated content (Atlas Brief, What-If commentary, and related)
Certain features of Atlas use large language models — currently Anthropic’s Claude — to generate prose commentary, summaries, and narrative context. AI-generated outputs may be inaccurate, incomplete, biased, internally inconsistent, or entirely fabricated(“hallucinated”). AI outputs do not reflect the views of Atlas or its operators, are not reviewed by a registered representative or investment professional before being shown, and should be treated as a draft starting point for your own research — never as authoritative. Unlike research notes published by a registered broker-dealer (e.g., Merrill, Morgan Stanley, Goldman Sachs), AI-generated commentary in Atlas has not been reviewed under FINRA Rule 2241 or any analogous research-conflict framework, and is not subject to a research analyst’s certification, supervisory review, or distribution restrictions.
The Atlas Brief, What-If commentary, and similar AI-generated memos are impersonal analyses of your uploaded data. They do not consider your broader financial situation, objectives, risk tolerance, liquidity needs, tax circumstances, or other personal factors that would be material to any actual investment decision. You must not rely on AI-generated content as the sole or primary basis for acting.
10. Third-party data and service outages
Atlas depends on third-party services, including (without limitation) cloud hosting, managed storage, authentication providers, market-data aggregators, and AI model APIs. The availability, accuracy, and correctness of Atlas outputs depend on those third parties. Atlas makes no representation or warranty about third-party services, and is not liable for outages, errors, or data corruption originating with any third-party provider.
11. No fiduciary relationship, no solicitation, no offer
Use of Atlas does not create an adviser-client, broker-customer, fiduciary, agency, trust, or professional relationship between you and Atlas, its operators, contractors, contributors, or affiliates. You have no right to rely on Atlas outputs as professional advice. Nothing on this website or in the Service constitutes an offer to buy or sell any security, an offer to provide advisory services, or a solicitation of any such offer in any jurisdiction where such offer or solicitation would be unlawful.
12. Jurisdictional limitation
Atlas is operated from the United States. It is not directed at residents of any jurisdiction where the distribution of software that displays portfolio analytics would be restricted or prohibited. If the use of Atlas is unlawful in your jurisdiction, do not use Atlas.
12A. No SIPC, no FDIC, no investor-protection coverage
Atlas does not custody securities or cash. Atlas is not a member of the Securities Investor Protection Corporation (SIPC), is not insured by the Federal Deposit Insurance Corporation (FDIC), is not covered by NCUA, and is not bonded under any state guaranty fund. SIPC and FDIC coverage attach to the brokerage or bank where your assets are actually held (for example, Fidelity Brokerage Services, Charles Schwab & Co., Vanguard Brokerage Services, Robinhood Securities, Merrill Lynch, Pierce, Fenner & Smith, etc.). Nothing in Atlas creates, substitutes for, or supplements such coverage. If your broker fails, the recovery is from SIPC and that broker’s own coverage, not from Atlas.
13. Limitations of liability
To the maximum extent permitted by law, Atlas and its operators disclaim all liability for any direct, indirect, incidental, consequential, special, exemplary, or punitive damages arising from your use of or inability to use the Service, including but not limited to trading losses, missed opportunities, tax mistakes or penalties, business interruption, or errors or omissions in displayed data. See our Terms of Service for the complete limitation-of-liability language and the binding arbitration + class-waiver provisions that govern any dispute.
14. Experimental status
Atlas is an experimental product offered for educational purposes only. Features may change without notice, be removed, or stop working. Calculations may be revised as we discover and fix bugs. Do not treat any Atlas output as authoritative. Do not build automated trading, tax filings, or any other real-world production system on top of Atlas outputs. Atlas is not designed or tested for use as a system-of-record, a regulatory filing input, or an input to any automated execution pipeline.
15. Acknowledgement and acceptance
By using Atlas, you acknowledge that you have read, understood, and accepted this disclaimer in full and the Terms of Service, and that you use the Service solely at your own risk. If you do not agree with this disclaimer, do not use Atlas.
This disclaimer is provided in good faith but is not a substitute for legal review in your jurisdiction. Securities, tax, and data-protection law are jurisdiction-specific. If you believe Atlas’s disclaimers are inadequate for your use case, do not use the Service.