# Legal Structure ## Offerings Legal Structure The investment contract for HiYield products can be custom tailored, based on flexible legal frameworks designed by Manatt, Phelps & Phillips, LLP. The offchain assets for each vault are held in SPVs managed by [WSFS Bank](https://www.wsfsbank.com/), and all capital markets activity is executed through [Raymond James](https://www.raymondjames.com/). --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.hiyield.xyz/legal-structure.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.