Privacy Policy

This Privacy Policy explains how Wealth Beacon (“we” or “us”) handles your personal data when you use the Wealth Beacon Platform and Services.

What is Personal Data?

Personal data refers to any information that can identify you as an individual. This includes information that directly identifies you (like your name or contact details) or data that can be used in combination with other information to identify you. Our understanding of personal data aligns with the definitions in relevant laws.

Who Does This Policy Apply To?

If you’re using, have used, or plan to use the Wealth Beacon Platform and Services, including trial versions, this policy applies to you.

The definitions and terms defined below keep their meaning through this Privacy Policy, regardless if they are capitalised or not in the sentence.

Definitions

• Client: Anyone who has agreed to use our services through a contract.
• Contract: The agreement you enter into with Wealth Beacon to use our Platform and Services.
• Platform: Our Software-as-a-Service offering, Wealth Beacon. For more details, please refer to our Terms of Service.
• Wealth Beacon: Wealth Beacon OÜ, identified by its registry code 16889317 and located at Teaduse 17 – 10, Saku 75501 Harjumaa, Estonia.
• Services: The various features and functionalities offered through our Platform.
• Terms of Service: The rules and guidelines governing the use of our Platform.
• Website: Includes all domains under the Wealth Beacon brand (like wealthbeacon.io) and their subdomains. This encompasses web pages, images, videos, code files, and other content owned by Wealth Beacon.

General information

• We do not process any special categories of personal data.
• Our Platform and Services are intended for users above 18 years of age, as stated in our Terms of Service. Therefore, we do not knowingly collect or process data of individuals under 18 years old.

Personal Data We Collect and How We Get It

• Identification Data (such as your name)
  • How we collect it: When you sign up for our Platform. We might also obtain it from public sources or third parties (for example, to confirm payment success via a third-party payment service) if relevant and necessary.
• Contact Data (like your email address)
  • How we collect it: When you sign up for our Platform. Similar to identification data, we may also gather this from public sources or third parties when needed.
• Communication Data (including emails and messages you send to us)
  • How we collect it: Directly from your interactions with us, such as when you reach out for support or inquiries.
• Financial Information Related to the Use of the Platform
  • This includes information about your financial portfolio.
• Data Related to the Use of the Platform and Services
  • What it includes: This covers data generated when you visit and use our Website and Platform, such as online identifiers (cookie identifiers, IP addresses, device identifiers).
  • How we collect it: Automatically when you visit and use our Website and Platform.

Recipients of personal data

• Within Wealth Beacon: Your personal data may be shared internally within our company.
• Business Partners: We collaborate with business partners. In these partnerships, we might share your personal data to help offer, provide, deliver, analyse, administer, personalise, and improve our Platform or Services, or to co-host events.
• Third-Party Service Providers:
  • Purpose: To assist in various functions like providing, delivering, analysing, administering, improving, and personalising our Services.
  • Data Collection by Third Parties: These providers may also collect personal data about or from you as part of their services on our Platform and Services.
  • Passing Your Requests: Sometimes, we might forward your requests to these providers.
• In Case of Merger or Acquisition:
  • If there’s a change in the control of Wealth Beacon (like a merger, sale, or acquisition), your personal data, along with this Privacy Policy, may be transferred to the new entity.
• Legal and Safety Reasons:
  • We may disclose your personal data to third parties when it’s necessary to comply with Legal Acts or a legal process, to enforce our Terms of Service, to detect or prevent fraud or security issues, or to protect the rights, property, or safety of Wealth Beacon, our users, or the public.

Transferring Your Personal Data Outside the EEA

• For our users in the European Economic Area (the members of the European Union and Iceland, Liechtenstein and Norway), it’s important to understand how your personal data might be handled:
  • Transfer and Storage Outside the EEA:
    • There may be times when your personal data is transferred to, and stored in, countries outside the EEA, such as the United States.
  • Legal Basis for Transfer:
    • We ensure that any such transfer is lawful.
    • We transfer personal data to countries or recipients:
      • That the European Commission recognizes as providing an adequate level of protection for personal data, or
      • Where there are appropriate safeguards in place that meet European Union (EU) requirements for the transfer of personal data outside the EU.
  • Request for More Information:
    • If you need more details about these transfers (like the names of the recipients or the specifics of the safeguards we use), please feel free to contact us using the contact details provided below.

How We Protect Your Personal Data

• Comprehensive Approach: We implement technical and organisational security measures considering the latest technology, costs of implementation, and the nature and scope of data processing, while assessing risks to your privacy.
• Robust Security Practices: Our measures include encrypted storage of your personal data and stringent access controls to ensure only authorised personnel have access.

Data retention

• General Retention Policy:  Your personal data is kept only as long as necessary for the purposes it was collected, to protect our rights, or as required by applicable law. If the same data serves multiple purposes, we retain it for the longest applicable period.
• Retention for Paying Clients:
  • Billing Information: In compliance with Estonian accounting and taxation laws, we retain billing information for 7 years from the end of the relevant financial year.

Your Rights Regarding Your Personal Data

• Right of Access: Understand if your personal data is being processed, why it’s processed, the categories of data, to whom it’s disclosed, retention duration, and your rights concerning data correction, erasure, and processing restriction.
• Right of Rectification: Request correction of inaccurate or incomplete personal data about you.
• Right of Erasure: In certain cases, like withdrawing consent without other legal processing grounds, request deletion of your personal data.
• Right to Restrict Processing: Temporarily restrict processing of your personal data in specific situations (e.g., if you’ve objected to data processing).
• Right to Object: Object to processing of your personal data based on legitimate interest, including profiling. We will cease processing unless there are overriding legitimate grounds.
• Right to Data Portability: Receive your data in a structured, commonly used format and transfer it to another service provider, if processing is consent-based or contract-based and automated.
• Complaints and Contact: If you feel your rights are violated, you can submit a complaint to the Data Protection Inspectorate (Andmekaitse Inspektsioon) or court. To exercise your rights, please contact us using the details provided.

Note: Some rights (like reviewing and updating your data) can be exercised directly on the Platform.

Updates to Our Privacy Policy

• When Changes Occur: We may update this Privacy Policy if there are changes in our personal data processing practices, or as required by data protection laws, other legal acts, case-law, or guidelines from competent authorities.
• Your Notification: If we make any changes, we’ll notify you via email reasonably before these changes take effect.

Contact

• In case you have any questions regarding the processing of your personal data by us or you would like to exercise your rights as a data subject, please contact our data protection officer by email at [email protected]
• In case you would like to file a complaint with the Data Protection Inspectorate, the contact details are available at www.aki.ee.

Appendix 1

The details for the lawful bases for processing data

• Performance of contract
  • We process your personal data when it’s necessary to fulfil our contract with you or to take steps at your request before entering into a contract.

• Legitimate interest
  • We sometimes process your personal data based on our legitimate business interests. If you want to know more about this processing, you can request further details from us as outlined below.

• Legal obligation
  • We process personal data on this legal ground if the legal obligation for processing arises from the law.