Statutory & FAIS Disclaimer
Effective Date: 18 June 2026 Company: FNA Solutions (Pty) Ltd trading as Consilium 360 (hereinafter referred to as “Consilium 360”)
1. Status of Consilium 360
Consilium 360 is strictly a technology, software, and administrative service provider. FNA Solutions (Pty) Ltd is NOT a licensed Financial Services Provider (FSP) under the Financial Advisory and Intermediary Services Act, No. 37 of 2002 (FAIS Act), nor is it a representative of any FSP.
We do not provide financial, investment, tax, legal, or accounting advice to you or your clients. The Consilium 360 platform, including its CRM, calculators, projections, AI-generated text, and reporting templates, is designed solely as a tool to assist registered financial advisors, planners, and wealth managers in performing mathematical calculations, managing their practices, and formatting their own independent advice.
2. Exclusive Advisor Responsibility
The legal onus, duty of care, and responsibility for any and all financial advice, product recommendations, or financial planning services provided to a client (the Data Subject) rests entirely and exclusively with the licensed Financial Advisor utilizing the software and their overarching Financial Services Provider (FSP).
By utilizing Consilium 360, the Advisor explicitly acknowledges, warrants, and agrees that:
- Independent Verification: The Advisor is solely responsible for independently verifying the accuracy, appropriateness, and regulatory compliance of all mathematical outputs, tax assumptions, inflation metrics, and investment projections generated by the software before presenting them to or relying upon them for a client.
- AI-Generated Outputs (Records of Advice): Any Record of Advice (ROA), Client Analysis Report, Letter of Introduction, or other text generated by the Consilium 360 Generative AI engine is a draft template only. AI models are prone to generating inaccurate or incomplete information. The Advisor bears the absolute responsibility to read, review, edit, and approve the document to ensure it accurately reflects their specific advice, rationale, and strict compliance with the General Code of Conduct for Authorized FSPs.
- Suitability of Advice: The software does not determine the suitability of any financial product for a client. The Advisor must apply their own professional judgment and “apply their mind” in interpreting the software’s outputs.
- Data Integrity: The accuracy of the platform’s outputs relies 100% on the accuracy, currency, and completeness of the data inputted by the Advisor. Consilium 360 accepts no liability for skewed projections resulting from user-inputted errors, outdated tax tables, or omitted client debts.
3. Legislative and Tax Updates
While Consilium 360 endeavors to keep its calculation engines (e.g., Two-Pot retirement system rules, Estate Duty parameters, SARS income tax tables, and Capital Gains Tax inclusion rates) up to date with the latest South African legislation, we do not guarantee real-time accuracy. It is the Advisor’s responsibility to ensure that the parameters used in any calculation reflect the current law at the date the advice is rendered.
4. Broad Indemnification & Limitation of Liability
Under no circumstances whatsoever shall FNA Solutions (Pty) Ltd, its directors, employees, developers, or affiliates be held liable for any direct, indirect, incidental, punitive, or consequential damages, including but not limited to:
- Financial losses suffered by your clients.
- Regulatory fines, penalties, or license suspensions imposed by the Financial Sector Conduct Authority (FSCA).
- Determinations, rulings, or compensation orders made by the Office of the FAIS Ombud against you or your FSP.
- Errors or omissions in Records of Advice.
By registering an account and using this platform, you irrevocably indemnify, defend, and hold harmless FNA Solutions (Pty) Ltd t/a Consilium 360 against any and all claims, lawsuits, or regulatory actions instituted by your clients, third parties, or regulatory bodies arising directly or indirectly from the advice you provide while utilizing our software tools.