Privacy notice.

1. Introduction

Below, we provide information about the processing of personal data when using

• our website (https://www.xaver.com)
• our social media profiles
• as well as when initiating and conducting business relationships with us, including collaboration with cooperation, product and service partners.

Personal data is any data that can be related to a specific natural person, e.g. their name or IP address.

1.1. Contact

The controller pursuant to Art. 4 (7) of the EU General Data Protection Regulation (GDPR) is Xaver Asset Management GmbH, Pilgrimstraße 6, 50674 Cologne, Germany, email: dpo@xaver.com. We are legally represented by Max Bachem, Dr Björn Holste and Nigel Jankelson.

Our data protection officer is Julian Jantze, Compound Law, email: dpo@compound.law.

1.2. Scope of data processing, processing purposes and legal bases

The scope of data processing, processing purposes and legal bases are explained in detail below. The following are generally considered to be the legal basis for data processing:

• Art. 6 (1) (a) GDPR serves as the legal basis for processing operations for which we obtain consent.
• Art. 6 (1) (b) GDPR is the legal basis if the processing of personal data is necessary for the performance of a contract, e.g. if a website visitor purchases a product from us or we perform a service for them. This legal basis also applies to processing that is necessary for pre-contractual measures, such as enquiries about our products or services.
• Art. 6 (1) (c) GDPR applies if we fulfil a legal obligation by processing personal data, as may be the case in tax law, for example.
• Art. 6 (1) (f) GDPR serves as the legal basis if we can invoke legitimate interests for the processing of personal data, e.g. for cookies that are necessary for the technical operation of our website.

1.3. Data processing outside the EEA

Insofar as we transfer data to service providers or other third parties outside the EEA, adequacy decisions by the EU Commission pursuant to Art. 45 para. 3 GDPR guarantee the security of the data during transfer, insofar as these exist, as is the case, for example, for the United Kingdom, Canada and Israel.

When transferring data to service providers in the USA, the legal basis for the data transfer is an adequacy decision by the EU Commission if the service provider has additionally certified itself under the EU-US Data Privacy Framework.

In other cases (e.g. if no adequacy decision exists), the legal basis for data transfer is usually standard contractual clauses, unless we indicate otherwise. These are a set of rules adopted by the EU Commission and form part of the contract with the respective third party. According to Art. 46(2)(b) GDPR, they guarantee the security of data transfer. Many of the providers have given contractual guarantees that go beyond the standard contractual clauses and protect the data beyond the standard contractual clauses. These include, for example, guarantees regarding the encryption of data or regarding the obligation of the third party to notify data subjects if law enforcement agencies want to access data.

1.4. Storage period

Unless expressly stated in this privacy policy, the data stored by us will be deleted as soon as it is no longer required for its intended purpose and there are no legal retention obligations preventing its deletion. If the data is not deleted because it is required for other and legally permissible purposes, its processing will be restricted, i.e. the data will be blocked and not processed for other purposes. This applies, for example, to data that we are required to retain for commercial or tax reasons.

1.5. Rights of data subjects

Data subjects have the following rights vis-à-vis us with regard to their personal data:

• Right to information,
• Right to rectification or erasure,
• Right to restriction of processing,
• Right to object to processing,
• Right to data portability,
• Right to withdraw consent at any time.

Data subjects also have the right to complain to a data protection supervisory authority about the processing of their personal data. Contact details for data protection supervisory authorities are available at https://www.bfdi.bund.de/DE/Service/Anschriften/Laender/Laender-node.html.

1.6. Obligation to provide data

Customers, interested parties or third parties must only provide us with personal data within the scope of a business relationship or other relationship that is necessary for the establishment, implementation and termination of the business relationship or other relationship, or that we are legally obliged to collect. Without this data, we will generally have to refuse to conclude a contract or provide a service, or we will no longer be able to perform an existing contract or other relationship.

Mandatory information is marked as such.

1.7. No automated decision-making in individual cases

As a matter of principle, we do not use fully automated decision-making in accordance with Article 22 of the GDPR to establish and implement a business relationship or other relationship. Should we use these procedures in individual cases, we will provide separate information on this, provided that this is required by law.

1.8. Contact

When you contact us, e.g. by email or telephone, we store the data you provide (e.g. names and email addresses) in order to answer your questions. The legal basis for processing is our legitimate interest (Art. 6(1)(f) GDPR) in responding to enquiries addressed to us. We delete the data collected in this context once storage is no longer necessary, or restrict processing if there are legal retention obligations.

1.9. Customer surveys

From time to time, we conduct customer surveys to get to know our customers and their wishes better. In doing so, we collect the data requested in each case. It is in our legitimate interest to get to know our customers and their wishes better, so that the legal basis for the associated data processing is Art. 6 (1) (f) GDPR. We delete the data once the results of the surveys have been evaluated.

1.10. Anti-Money Laundering and Disclosure of Identification Data

As a securities firm, we are required to identify our clients and implement additional measures to prevent money laundering and terrorist financing. To this end, we process, in particular, identification data such as name, date of birth, place of birth, nationality, and address; details regarding identification documents; and the necessary supporting documentation, including copies of identification documents and evidence of the identity verification process. To the extent necessary, we also process information regarding authorized representatives and beneficial owners. The legal basis is Article 6(1), first sentence, letter c of the GDPR in conjunction with the relevant provisions of the Money Laundering Act (GwG), in particular Sections 8 and 10 through 12 of the GwG.

If, as part of our collaboration with a product partner, you establish or maintain a business relationship with that partner, we may transmit the identification data we have on file and the required supporting documents to that partner. This is subject to the partner itself being subject to anti-money laundering regulations, requiring the data to fulfill its legal due diligence obligations toward you, and the legal requirements for accessing our identification data being met. These partners include, in particular, insurance companies, credit institutions, and securities firms.

This transfer enables the partner to use an identification process that has already been completed and thereby avoid repeating the identity verification process whenever possible.

1.11. Collaboration with cooperation partners and disclosure to other recipients

Our asset management services are frequently offered to you through cooperation partners. These are, in particular, financial sales organisations, financial investment and insurance intermediaries, broker pools, banks and insurance companies and their sales companies. Cooperation partners may in turn involve intermediaries, advisers or service partners; these are also referred to here as cooperation partners. You can identify the cooperation partner who looks after you from the design of the application process and from your contract documents. Cooperation partners are not service providers acting on our behalf. They process the data they receive from us as independent controllers.

Data we receive from the cooperation partner: If your cooperation partner creates or fills in a case for you on our platform, including via an interface from its own systems, we receive in particular your master data (e.g. name, date of birth), your contact details and information on your retirement provision or investment objectives. Until you start the application process yourself, we process this data on behalf of and on the instructions of your cooperation partner; the cooperation partner is the controller in this respect. From the start of the application process, we process the data as an independent controller, in particular for the suitability assessment, identification and the conclusion and performance of the asset management agreement. The legal basis in this respect is Art. 6 (1) (b) GDPR and, insofar as we fulfil legal obligations, Art. 6 (1) (c) GDPR.

Data we transfer to the cooperation partner: So that your cooperation partner can look after you and its remuneration can be settled, we transfer the data required for this purpose to it. This includes in particular your master and contact data, the status of your application (e.g. started, paused, completed), information on your contract (e.g. selected product, start date, investment amount and savings rate), portfolio data (e.g. portfolio value, deposits and withdrawals) and the data required to settle the cooperation partner's remuneration.

The legal basis is Art. 6 (1) (b) GDPR insofar as the transfer is necessary for the performance of your contract with us, for example where you address concerns regarding your contract to us via your cooperation partner. Otherwise, the legal basis is Art. 6 (1) (f) GDPR. Our legitimate interest and that of the cooperation partner lie in allocating customers to the responsible cooperation partner, settling the agreed remuneration correctly and enabling coordinated customer care.

Your cooperation partner processes the transferred data under its own responsibility. Information on this, in particular on purposes, storage periods and your rights vis-à-vis the cooperation partner, can be found in its privacy notice. The cooperation partner alone is responsible for any use of the data for its own advertising purposes.

2. Newsletter

We reserve the right to inform customers who have already used our services or purchased goods from us about our offers from time to time by email or other means, unless they have objected to this. The legal basis for this data processing is Art. 6 (1) (f) GDPR. Our legitimate interest lies in direct marketing (Recital 47 GDPR). Customers can object to the use of their email address for advertising purposes at any time without additional costs, for example via the link at the end of each email or by emailing our email address above.

Interested parties have the option of subscribing to a free newsletter. We process the data provided during registration exclusively for the purpose of sending the newsletter. Registration takes place by selecting the appropriate field on our website (https://www.xaver.com), by ticking the appropriate box in a paper document or by another clear action, whereby interested parties declare their consent to the processing of their data, so that the legal basis is Art. 6 para. 1 sentence 1 lit. a GDPR. Consent can be revoked at any time, e.g. by clicking on the corresponding link in the newsletter or by sending a message to our email address above. The processing of data until revocation remains lawful even in the event of revocation.

On the basis of the consent of the recipients (Art. 6 (1) (a) GDPR), we also measure the opening and click rates of our newsletters in order to understand which content is relevant to our recipients.

3. Data processing on our website (https://www.xaver.com)

3.1. Note for website visitors from Germany

Our website (https://www.xaver.com) stores information on the end device of website visitors (e.g. cookies) or accesses information that is already stored on the end device (e.g. IP addresses). The following sections provide details on what information this is.

This storage and access is based on the following provisions:

• Insofar as this storage or access is absolutely necessary in order for us to provide the service expressly requested by website visitors (e.g. to operate a chatbot used by website visitors or to ensure the IT security of our website), it is carried out on the basis of Section 25 (2) No. 2 of the Telecommunications Digital Services Data Protection Act (TDDDG).
• Otherwise, this storage or access is based on the consent of the website visitors (Section 25 (1) TDDDG).

Subsequent data processing is carried out in accordance with the following sections and on the basis of the provisions of the GDPR.

3.2. Informational use of the website (https://www.xaver.com)

When the website (https://www.xaver.com) is used for informational purposes, i.e. when visitors to the site do not send us any information separately, we collect the personal data that the browser transmits to our server in order to ensure the stability and security of our website. This is in our legitimate interest, so the legal basis is Art. 6 para. 1 sentence 1 lit. f GDPR.

This data includes:

• IP address
• Date and time of the request
• Time zone difference to Greenwich Mean Time (GMT)
• Content of the request (specific page)
• Access status/HTTP status code
• Amount of data transferred
• Website from which the request originates
• Browser
• Operating system and its interface
• Language and version of the browser software.

This data is also stored in log files. It is deleted when its storage is no longer necessary, at the latest after 14 days.

3.3. Web hosting and provision of the website (https://www.xaver.com)

Our website (https://www.xaver.com) is hosted on Vercel; we host backend and platform services on Amazon AWS. The provider of Vercel is Vercel Inc., 440 N Barranca Ave #4133, Covina, CA 91723, USA. Vercel delivers the website through its edge network and in doing so processes the server logs generated when the website is accessed (see section 3.2). Processing takes place in the EU (EU region). Further information can be found in the provider's privacy policy at https://vercel.com/legal/privacy-policy. The provider of Amazon AWS is Amazon Web Services EMEA Sàrl, Avenue John F. Kennedy 38, 1855 Luxembourg. The provider processes the personal data transmitted via the website, e.g. content, usage, meta/communication data or contact data, in the EU. Further information can be found in the provider's privacy policy at https://aws.amazon.com/de/privacy/?nc1=f_pr.

It is in our legitimate interest to provide a website, so the legal basis for the data processing described is Art. 6 (1) (f) GDPR.

3.4. Booking appointments

Visitors to our website (https://www.xaver.com) can book appointments with us. To do this, we process meta or communication data in addition to the data entered. We have a legitimate interest in offering interested parties a user-friendly way to make appointments. Therefore, the legal basis for data processing is Art. 6 (1) (f) GDPR. If we use a third-party tool for the appointment, the relevant information can be found under ‘Third-party providers’.

3.5. Technically necessary cookies

Our website (https://www.xaver.com) uses cookies. Cookies are small text files that are stored in the web browser on the end device of a site visitor. Cookies help to make the website more user-friendly, effective and secure. Insofar as these cookies are necessary for the operation of our website or its functions (hereinafter ‘technically necessary cookies’), the legal basis for the associated data processing is Art. 6 para. 1 sentence 1 lit. f GDPR. We have a legitimate interest in providing customers and other site visitors with a functional website.

Specifically, we use technically necessary cookies for the following purpose or purposes:

• Cookies that apply language settings
• Flash cookies that are set to play media content
• Cookies that remember search terms

3.6. Third-party providers

3.6.1. AI-supported application process (Cooperation with Xaver Group GmbH)

As part of our cooperation with Xaver Group GmbH, we use an AI-supported application process to offer you personalised, efficient advice and product brokerage tailored to your individual needs. Among other things, this technology from Xaver Group GmbH enables data analysis, the identification of customer needs, the provision of recommendations and the conclusion of contracts. Xaver processes personal data that you provide to us, for example, in the course of consulting, when using digital interaction offers (landing pages, chats, etc.) or during conclusion processes.

This may include the following data categories in particular:

• Master data (e.g. name, date of birth, contact details)
• Insurance and product interests as well as information about your financial and pension situation
• Interaction and usage data (e.g. product ranges clicked on, history of consultations, chat interactions, completion and termination points)
• Technical information (e.g. IP address, device information, session IDs, cookies or similar technologies)

This data is processed in particular for the following purposes:

• To provide personalised product recommendations
• To improve the customer experience through AI-supported analyses and segmentations
• To efficiently carry out consultation and transaction processes (including digital contracts, documentation and, if necessary, forwarding to our advisors)
• To optimise the consultation and contract conclusion processes.

Data processing is carried out on the basis of Art. 6(1)(b) GDPR (fulfilment of a contractual relationship or pre-contractual measures) and/or our legitimate interests on the basis of Art. 6(1)(f) GDPR (protection of legitimate interests). Our legitimate interest lies in particular in the efficient, customer-oriented and modern design of our consulting and sales processes. Insofar as we ask for your consent (Art. 6 (1) (a) GDPR), this legal basis is decisive for the corresponding processing.

In order to provide the Xaver technology and the associated services, Xaver Group GmbH, after careful selection and contractual agreement with us, uses the following service providers in particular for data analysis, tracking and hosting – data processing generally takes place in the EU. Insofar as service providers process data in third countries or can access it from there, this is based on appropriate safeguards pursuant to Art. 44 et seq. GDPR (see section 1.3):

• Microsoft Azure (provider: Microsoft Ireland Operations, Ltd., One Microsoft Place, South County Business Park, Leopardstown, Dublin 18, D18 P521, Ireland) serves as the technological basis for AI functions (e.g. chat interactions, language models, text analysis).
• Langfuse (provider: Finto Technologies Inc., 156 2nd St, San Francisco, CA 94105, USA) helps to operate, monitor and optimise AI models efficiently and in compliance with data protection regulations. Langfuse supports technical and operational processes for the secure operation of AI solutions.
• Mixpanel (provider: Mixpanel, Inc., One Front Street, Floor 28, San Francisco, CA 94111, USA) is used to analyse user behaviour and improve the user experience.
• AWS (provider: Amazon Web Services EMEA Sàrl, Avenue John F. Kennedy 38, 1855 Luxembourg) is used as an infrastructure and AI provider.
• MongoDB Atlas (provider: MongoDB, Inc., USA) serves as a database of the Xaver platform.
• IDnow (provider: IDnow GmbH, Germany) is used for identity verification (KYC).
• Redis serves as a technical service for caching and data storage of the Xaver platform.
• Twilio (provider: Twilio Inc., USA) is used for messaging and telephony functions.
• Upvest (provider: Upvest Securities GmbH, Germany) provides the custody infrastructure (depot bank).
• Google Cloud (provider: Google Cloud EMEA Limited, Velasco, Clanwilliam Place, Dublin 2, Ireland) is used as cloud infrastructure.
• Attio (provider: Attio Limited, United Kingdom) serves as a CRM for managing customer contacts and interactions.
• Google Workspace (provider: Google Cloud EMEA Limited, Velasco, Clanwilliam Place, Dublin 2, Ireland) is used for e-mail and documents, including the handling of complaints.
• Calendly (provider: Calendly LLC, 115 E Main St, Buford, GA 30518, USA) is used for booking appointments. We link to Calendly externally and do not embed it in our website.
• ElevenLabs (www.elevenlabs.io) is used for the voice assistant. The service is loaded only after the visitor has agreed to the purpose "AI assistant" in the cookie notice or has pressed the start button of the voice assistant. The legal basis is consent (Art. 6 (1) (a) GDPR, § 25 (1) TDDDG), which can be withdrawn at any time via "Cookie settings" at the bottom of every page.
• Plain (provider: Not Just Tickets Ltd, 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT, United Kingdom) is used as the support system for requests to customer support, for example by e-mail or through the contact form; according to the provider, the data is stored in the United Kingdom and the EEA.
• Vercel Web Analytics (provider: Vercel Inc., 440 N Barranca Ave #4133, Covina, CA 91723, USA) evaluates page views and loading times in aggregated form, without cookies, with consent (purpose "Statistics" in the cookie notice). The legal basis is consent (Art. 6 (1) (a) GDPR, § 25 (1) TDDDG), which can be withdrawn at any time via "Cookie settings".

Xaver Group Ltd. uses your data to process enquiries. In addition, the aforementioned data is aggregated, anonymised and used for statistical evaluations to measure success.

Further information can be found in the Xaver privacy policy: https://www.xaver.com/datenschutz

3.7. Contact form

When you contact us via the contact form on our website, we process the data requested there (name, e-mail address, topic and, if provided, customer or contract number) and the content of the message in order to answer your enquiry. The website does not store these details; they are sent by e-mail via Google Workspace to the support team and handled there in the support system Plain. If your enquiry does not concern services of Xaver Asset Management GmbH but those of Xaver Group GmbH, we pass it on to that company.

The legal basis for the processing is our legitimate interest in answering enquiries addressed to us (Art. 6 para. 1 s. 1 lit. f GDPR); where your enquiry concerns a contract or steps prior to entering into one, Art. 6 para. 1 s. 1 lit. b GDPR.

We delete the data accruing in this context once storage is no longer necessary, or restrict the processing if there are legal retention obligations.

4. Data processing on social media platforms

We are represented on social media networks in order to present our organisation and our services there. The operators of these networks regularly process their users' data for advertising purposes. Among other things, they create user profiles based on their online behaviour, which are used, for example, to display advertising on the network pages and elsewhere on the Internet that corresponds to the interests of the users. To this end, the operators of the networks store information about usage behaviour in cookies on the users' computers. It cannot be ruled out that the operators may combine this information with other data. Further information and instructions on how users can object to processing by the site operators can be found in the privacy policies of the respective operators listed below. It is also possible that the operators or their servers are located in non-EU countries, meaning that they process data there. This may pose risks for users, e.g. because it makes it more difficult to enforce their rights or because government agencies may access the data.

When users of the networks contact us via our profiles, we process the data provided to us in order to respond to their enquiries. This is in our legitimate interest, so the legal basis is Art. 6(1)(f) GDPR.

4.1. Instagram

We maintain a profile on Instagram. The operator is Meta Platforms Ireland Ltd., 4 Grand Canal Square, Grand Canal Harbour, Dublin 2, Ireland. The privacy policy is available here: https://help.instagram.com/519522125107875.

4.2. LinkedIn

We maintain a profile on LinkedIn. The operator is LinkedIn Ireland Unlimited Company, Wilton Place, Dublin 2, Ireland. The privacy policy is available here: https://www.linkedin.com/legal/privacy-policy?_l=de_DE. You can object to data processing via the settings for advertisements: https://www.linkedin.com/psettings/guest-controls/retargeting-opt-out.

5. Changes to this privacy policy

We reserve the right to change this privacy policy with future effect. The current version is available here.

6. Questions and comments

If you have any questions or comments regarding this privacy policy, please do not hesitate to contact us using the contact details provided above.