What Echelon is, and what it is not.

Echelon is a financial-education product. It is not a registered investment adviser, not a broker-dealer, not a bank, not an accounting firm, and not a law firm.

Using Echelon creates no advisory relationship and no fiduciary duty of any kind. Echelon never advises anyone about their own holdings, and it has no ability to place, route, or execute an order.

Nothing on this site is investment advice, tax advice, or legal advice. A lesson can teach you how a deferred tax asset arises; it cannot tell you what to put on your return. A lesson can teach you what a covenant does; it cannot tell you what your contract means. For those, use a licensed professional who knows your situation.

Stated plainly, so there is nothing to infer:

• Echelon does not publish price targets, trading signals, or trade setups.
• Echelon never tells you whether a security is undervalued or overvalued.
• Echelon never recommends buying or selling any security, and never rates one.
• There are no guaranteed returns, and no page here promises that you will beat the market.
• Echelon does not manage money, hold customer funds, or take custody of any asset.

Every lesson is the same for every learner. Echelon does not ask what you own, what you earn, what you are trying to achieve, or how much risk you are willing to carry — and there is no field anywhere on this site that would store it if you tried to tell us.

That is a deliberate limit rather than a missing feature. Advice about a particular person and their particular securities is the activity that securities regulation governs; Echelon stays outside it by teaching a method to everyone and tailoring an opinion to no one. If you ever see a surface on this site asking for your portfolio, positions, balances, income, or objectives, treat it as a defect and tell us.

Figures on this site are drawn from public company filings — principally the SEC EDGAR system — and from third-party market data. Filings are reproduced as filed, with a citation back to the document and the period the number came from.

They can still be wrong. A filer may restate a figure after we have shown it, a data source may transmit an error, and our own extraction of a line item may be imperfect. The site is built to show nothing rather than show a number it cannot source, and to say so when a figure is unavailable. Verify anything that matters to you against the original filing before you rely on it.

None of it is suitable for real-money use. It is not a market data feed, it is not real-time, and it carries no warranty of accuracy, completeness, or timeliness. The full warranty disclaimer is section 5 of the terms.

Echelon grades method, not outcome. A lesson checks whether you built the calculation correctly and read the filing correctly. It does not score you on which way a security later moved, and no part of your score depends on a market outcome.

Scores, streaks, ratings, and any credential earned here describe analytical work on historical filings. They are not a track record of investment performance, they are not a professional licence or designation, and they should not be presented to anyone as either.

Echelon is an independent product. It is not affiliated with, endorsed by, or a source of any professional terminal or data provider, and it is not affiliated with any company whose filings appear in a lesson. Company names and ticker symbols are used to identify the filings being studied.

No issuer, broker, exchange, or asset manager pays to appear on this site. A company is in a lesson because its filings happen to teach a concept well.

Accounts are open; paid plans are not open to the public yet. When a paid plan opens, the price, the length of any trial, the exact date a trial ends, the exact date and amount of the first charge, and how to cancel are all shown before payment details are entered — and section 9 of the terms governs the whole lifecycle.

If a figure on this site does not match the filing it cites, tell us at hello@echelonterminal.com. We would rather correct a number than defend it, and a corrected figure is worth more to us than a clean-looking page.