1. Scope
This Privacy Policy explains how Sherman Research LLC ("SR," "we," "us") collects, uses, and protects personal information of visitors to our website and members of the Sherman Research Consumer Product (the "Service"). It is part of the Sherman Research Consumer Product Terms of Use. We do not sell your personal information, and we do not share it with anyone outside the service providers listed in Section 4.
2. Information We Collect
2.1 Information you give us. When you create a membership or contact us, we collect your name, email address, account login credentials, and email preferences, along with any messages you send us. If you use the Portfolio Analyzer, we also collect the holdings you enter and any portfolio files you choose to import.
2.2 Payment information. Payments are processed by Stripe. Stripe collects your card details and billing address directly; SR does not store your full card number. We receive limited payment information from Stripe, such as the card type, last four digits, expiration date, and your billing and transaction history.
2.3 Information collected automatically. When you use the Service or open our emails, we collect usage information such as pages and content viewed, login times, device and browser type, IP address, and whether you open or click our emails. We also record sessions on the Service, meaning how you move through, click, and scroll on its pages.
3. How We Use Your Information
We use personal information strictly for internal operations and analytics, specifically to:
create and manage your membership and login;
process payments, renewals, and cancellations, and send receipts and renewal reminders;
send the Content you subscribed to and other emails you have chosen to receive;
run the Portfolio Analyzer, including extracting holdings from files you import and saving your portfolios;
respond to your support requests;
review activity on individual accounts, such as logins, content viewed, and email opens and clicks, to operate and improve the Service; and
protect the Service, prevent fraud, detect account sharing, and comply with legal obligations.
We track this activity for each account, not only in aggregate, and use it for SR's internal purposes only. We do not use your personal information for advertising or to tailor research or investment Content to you. All Members on a plan receive the same Content. The Portfolio Analyzer uses the holdings you enter only to generate your automated score, applying the same rules to every Member.
4. Service Providers We Share With
4.1 Our providers. We store and process personal information only through the following service providers, which act on our behalf to run the Service:
| Provider | What it does for SR | Information it holds |
|---|---|---|
| Stripe | Payment processing and billing | Name, email, card and billing details, transaction history |
| Memberstack | Membership accounts, login, and access to Content | Name, email, login credentials, plan and membership status |
| HubSpot | Customer records, support, and internal reporting | Name, email, membership status, support messages, email activity |
| Klaviyo | Sending emails and managing email preferences | Name, email, email preferences, email opens and clicks |
| Postmark | Sending account and alert emails | Name, email, email content and delivery status |
| PostHog | Website analytics and session recordings | Usage activity, pages viewed, clicks, device and browser details, IP address, session recordings |
| OpenAI | Reading portfolio files you choose to import, to extract your holdings | The contents of files you import |
| Vercel | Hosting the website and Service | IP address, device and browser details, server logs |
| Neon | Database that stores saved portfolios | Saved portfolios and holdings, linked to your account |
Each provider may use your information only to provide its services to SR and is subject to its own privacy and security commitments.
4.2 No other sharing. We do not sell, rent, or trade your personal information, and we do not share it with advertisers, data brokers, or any other third party for their own purposes.
4.3 Legal and business exceptions. We may disclose personal information if required by law, subpoena, or court order, or where necessary to protect the rights or safety of SR or others. If SR is involved in a merger, acquisition, or sale of its business, personal information may transfer to the successor, which will remain bound by this Privacy Policy.
5. Cookies, Email Tracking, and Do Not Track
5.1 Cookies. We and our providers use cookies and similar technologies to keep you logged in, remember your preferences, secure your account, and measure how the Service is used, including through session recordings. You can block or delete cookies in your browser settings, but the Service may not work properly without them, including logging in.
5.2 Email tracking. Our emails may contain small tracking pixels and tracked links that tell us whether an email was opened or a link was clicked. We use this only for internal analytics and to manage email delivery.
5.3 Do Not Track. Some browsers send a "Do Not Track" signal. Because there is no common standard for these signals, the Service does not currently respond to them. We do not allow third parties to track you across other websites through the Service.
6. Your Email Choices
You may opt out of our emails or change your email preferences at any time by using the unsubscribe or preferences link at the bottom of any email, or through your account settings. We will honor your request promptly. Even if you opt out of marketing and content emails, we will still send transactional messages about your account, such as receipts, renewal reminders, cancellation confirmations, and changes to our Terms or this Policy.
7. Retention and Security
7.1 Retention. We keep personal information while your membership is active and after it ends, with no fixed deletion date, so we can maintain accurate tax, accounting, and business records, meet legal obligations, resolve disputes, and restore your account if you rejoin. You may ask us to delete your information at any time as described in Section 8, and we will do so except for records we are required by law to keep.
7.2 Security. We use reasonable administrative, technical, and physical safeguards to protect personal information, and we rely on providers that maintain industry-standard security, including encryption of payment data. No system is completely secure, so we cannot guarantee absolute security. You are responsible for keeping your password confidential.
8. Your Rights
8.1 Access, correction, and deletion. You may ask us to tell you what personal information we hold about you, correct inaccurate information, or delete your information. To change the email address on your account, contact us as described in Section 11. You can change your email preferences at any time using the link in any email. Deleting your information will end your membership, and we may keep certain records where the law requires.
8.2 State privacy rights. Depending on where you live, you may have additional rights under state privacy laws, such as the right to obtain a copy of your information or to appeal a decision about your request. We will honor these rights as required by applicable law. We do not sell personal information or use it for targeted advertising, so there is nothing to opt out of for those purposes.
8.3 No discrimination. We will not treat you differently for exercising any of your privacy rights.
8.4 Making a request. To make a request, contact us as described in Section 11. We may need to verify your identity before acting on a request.
9. Children
The Service is intended only for adults 18 and older. We do not knowingly collect personal information from anyone under 18. If we learn that we have collected information from a minor, we will delete it.
10. Changes to This Policy
We may update this Privacy Policy from time to time. We will post the updated version on the Service with a new effective date and, for material changes, notify Members by email before the changes take effect.
11. Contacting Us
For questions about this Privacy Policy or to make a privacy request, contact Sherman Research LLC at info@shermanresearch.com.