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Advice please - Totus Capital
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dano17439
Posts: 366 Forumite
Today i got a call from a landline number in Milton Keynes. I took the call and a professional sounding guy asked for me using my full name. I immediately thought of PPI/Accident claim spam call etc but he said he was working for a financial company looking into old Lincoln policies (now Sun Life) that he believed I had many years ago. (which I had circa 2005 - 2009)
Again still being sceptical, and said I was at work so could he drop me an email. He was all very pleasant and said no problems so ive just received this........
Dear Mr xxx,
I contacted you earlier today to introduce myself and explain who we are and how we could potentially help you. The reason I contacted you is because we are aware that at some point in the past you would have taken out policies with a company called Merchant Investors (this might have been called MI Group at the time) or you would have taken policies with a company called Lincoln (this might have been called City Financial Partners at the time).
The reason we know about these policies and that you had them is because we had something known as the “service rights” to the policies. This is because when the MI Group and & City Financial Partners ceased to trade, as part of the companies being wound down, they sold some of the back book of business the company I work for, as this had value since we are financial advisers and would be able to go on servicing the clients. So even though we didn’t establish the Lincoln or Merchant Investors plans we are able to get some detail about who had them (as in a lot of cases many people have got rid of them either through a transfer or surrender etc). So that is why we are aware of the policies.
What we were not aware of until fairly recently is that there is a way we can potentially help you given that you have taken out policies with Merchant Investors/Lincoln in the past, which is why I have just contacted you.
Now we work with a company called TTP Financial. The chap who runs this company actually used to be an adviser at the MI Group. To give you the short version, he effectively worked for them for a number of years, he then decided to leave the company (as he was not happy with a lot of the practices he was being asked to engage in while working there from the management) so he decided to pursue other professional goals. At the time he was working for MI he had sold polices to friends and family and after a few years they were coming back to him and starting to complain that the charges and performance really were not what they expected and they were not happy. Having worked at MI and seen some of the practices advisers were encouraged to pursue he decided to help his friends and family complain about their policies to try and claim some redress (compensation). He was initially turned down when he went back to Merchant Investors, so he took his complaint to the Financial Ombudsman Service and his complaint was upheld. At that point he had a case president to work from and has been making claims for former MI clients ever since with a great deal of success. Since he has been doing this for a few years he has also started looking at people who has policies with Lincoln as well. Again he has had some good success in making these claims and investigations.
Now what tends to happen is that we work hand in hand with TTP as they have the knowhow in terms of making successful claims for clients and we have the details of potential people that previously had Merchant Investors and Lincoln policies. So we work together to try and help individuals where we can.
Now I know it sounds like a PPI claim (which I also find very annoying) but I can assure you this I nothing to do with PPI. It specifically relates to people who had Merchant Investors and Lincoln policies. As far as I am aware TTP are the only company in the UK doing this sort of work as it is very specific to certain individuals like you.
Here is a link to the TTP website so you can have a read for yourself http://www.ttp-financial.co.uk/
In terms of the process, it is very simple. In order for us to look into this we need you to sign 3 forms I have attached so you can look at them as follows:
· Client Contact Consent – This is a form that means you will allow TTP Financial to contact you. The reason this needs to be signed is we have the service rights to contact you, but as TTP Financial do not have a link to you, if they contact you without your permission it would be a “cold call” which would not be allowed in Ministry of Justice rules (which regulate compensation firms like TTP Financial)
· Permission To Disclose Information – This form will allow TTP to contact Merchant Investor (now taken over by a company called Sanlam) or Lincoln (now taken over by a company called Sun Life Financial Of Canada) on your behalf. They can then request information on your case file from the submission at the time and analyse it to see if there is any potential to make a claim. You don’t need to dig out old files or paperwork, TTP will do the work for you.
· Terms of Business – This sets out how TTP do business. The key thing you want to note on here is the fees. TTP will charge 25% + VAT on anything they are able to obtain you in compensation. If they do all the work and are not successful then you pay nothing. So they are taking a bit of gamble they will be able to get you something.
A couple of other important facts people often want to know are:
· What does signing the forms commit me to? The answer is nothing. You are not committed at any stage. If you sign these forms and the initial investigation shows it is not possible to make a claim, you can walk away with no fees or commitment. If a potential claim is identified and actually won for you, but you just decide you don’t want it, you are free to walk away with no commitment or fees. The only time any fees are payable is if TTP make a claim, they win on your behalf, present you the offer and you want to accept it, then whatever you accept as an offer a fee of 25% + VAT is charged. That is the entire fee. No other fees are paid to us, this is taken care of between TTP and Totus separately.
· What if the polices are cancelled and I have no paperwork? Even if you no longer have the polices (which you probably don’t) that does not matter we can still make a claim for you. You do not need to dig out any paperwork or policy numbers, again all this leg work is done by TTP Financial when you sign the forms.
In case you were wondering what sort of redress (compensation) you could be due, I have attached an example of a win we had for a previous client against MI (now Sanlam) and Lincoln (now Sun Life Financial Of Canada). We have seen claims for clients as high as £20,000 all the way down to £500, but for a few simple forms to me it makes sense to have a look. The chap who will be doing the investigation has been doing it for a while now so has honed his skill at making these claims. He is good at spotting the little technicalities in the cases having made plenty of claims in the past. In a lot of cases both Merchant Investors and Lincoln have seen the name TTP turn up so many times with complaints that in cases where they might normally try to fight a complaint they give in straight away and offer a redress payment just because it is quicker and they know they will end up losing in the end if the complaint gets taken all the way to the Financial Ombudsman Service (which TTP will do on your behalf if required).
One other important thing to note. With the redress you get paid first in your bank account before you pay any fees need to be paid. That way you can see that this is 100% real, you have the money in your account for you to spend before you get an invoice for your successful win.
I appreciate there is a lot to take in and you might have questions, so if you want to call me, my direct dial is [TEXT REMOVED BY FORUM TEAM]. If you are interested in looking at this initially, I can also post out the forms to you with a pre-paid envelope to send them back to make things as simple as possible for you.
You can also email me back if you prefer and I can call you back. I just wanted you to know what the situation is. You could be due an unexpected windfall and I would really like to help you get access to it if I can.
Please let me know you initial thoughts.
Many Thanks,
[TEXT REMOVED BY FORUM TEAM]
Now I'm still not convinced, but I must admit it doesn't seem like your typical anonymous cold caller. I've checked out the company and it seems legit.....
Has anybody had anything similar, or heard or dealt with this company???
Many thanks
Dano
REPLY ON BEHALF OF TOTUS CAPITAL
We appreciate that getting a call out of the blue from someone should always be treated with some caution, and totally understand why an individual would want to check independently by talking to other people who might have previous experience or knowledge.
Totus Capital is not a claims company. Our primary business is Tax and Financial planning for individuals and we operate under the regulation of the FCA. However, we do work with a claims management company called TTP Financial who specialise in claims for financial compensation/redress. TTP Financial mainly handle clients who dealt with Merchant Investors (now owned by Sanlam) and Lincoln (now owned by Sun Life Financial of Canada). We are only contacting people who actually had Lincoln or Merchant Investors policies rather than “cold calling” people. We are aware that a lot of clients who dealt with these companies were given bad advice - so the initial stage of the process is that TTP Financial would contact Lincoln/Merchant Investors to ask for details of the advice you were given in order to assess the quality of this advice, not to make a complaint without checking first.
It is true that TTP take a fee in the form of a percentage of any redress they secure. Any company that is in business has to make money to keep running, and we believe that the charging structure they offer of “no win, no fee”, is a fair one.
If you receive a call and have further questions please contact mkadmin@totus.com
Again still being sceptical, and said I was at work so could he drop me an email. He was all very pleasant and said no problems so ive just received this........
Dear Mr xxx,
I contacted you earlier today to introduce myself and explain who we are and how we could potentially help you. The reason I contacted you is because we are aware that at some point in the past you would have taken out policies with a company called Merchant Investors (this might have been called MI Group at the time) or you would have taken policies with a company called Lincoln (this might have been called City Financial Partners at the time).
The reason we know about these policies and that you had them is because we had something known as the “service rights” to the policies. This is because when the MI Group and & City Financial Partners ceased to trade, as part of the companies being wound down, they sold some of the back book of business the company I work for, as this had value since we are financial advisers and would be able to go on servicing the clients. So even though we didn’t establish the Lincoln or Merchant Investors plans we are able to get some detail about who had them (as in a lot of cases many people have got rid of them either through a transfer or surrender etc). So that is why we are aware of the policies.
What we were not aware of until fairly recently is that there is a way we can potentially help you given that you have taken out policies with Merchant Investors/Lincoln in the past, which is why I have just contacted you.
Now we work with a company called TTP Financial. The chap who runs this company actually used to be an adviser at the MI Group. To give you the short version, he effectively worked for them for a number of years, he then decided to leave the company (as he was not happy with a lot of the practices he was being asked to engage in while working there from the management) so he decided to pursue other professional goals. At the time he was working for MI he had sold polices to friends and family and after a few years they were coming back to him and starting to complain that the charges and performance really were not what they expected and they were not happy. Having worked at MI and seen some of the practices advisers were encouraged to pursue he decided to help his friends and family complain about their policies to try and claim some redress (compensation). He was initially turned down when he went back to Merchant Investors, so he took his complaint to the Financial Ombudsman Service and his complaint was upheld. At that point he had a case president to work from and has been making claims for former MI clients ever since with a great deal of success. Since he has been doing this for a few years he has also started looking at people who has policies with Lincoln as well. Again he has had some good success in making these claims and investigations.
Now what tends to happen is that we work hand in hand with TTP as they have the knowhow in terms of making successful claims for clients and we have the details of potential people that previously had Merchant Investors and Lincoln policies. So we work together to try and help individuals where we can.
Now I know it sounds like a PPI claim (which I also find very annoying) but I can assure you this I nothing to do with PPI. It specifically relates to people who had Merchant Investors and Lincoln policies. As far as I am aware TTP are the only company in the UK doing this sort of work as it is very specific to certain individuals like you.
Here is a link to the TTP website so you can have a read for yourself http://www.ttp-financial.co.uk/
In terms of the process, it is very simple. In order for us to look into this we need you to sign 3 forms I have attached so you can look at them as follows:
· Client Contact Consent – This is a form that means you will allow TTP Financial to contact you. The reason this needs to be signed is we have the service rights to contact you, but as TTP Financial do not have a link to you, if they contact you without your permission it would be a “cold call” which would not be allowed in Ministry of Justice rules (which regulate compensation firms like TTP Financial)
· Permission To Disclose Information – This form will allow TTP to contact Merchant Investor (now taken over by a company called Sanlam) or Lincoln (now taken over by a company called Sun Life Financial Of Canada) on your behalf. They can then request information on your case file from the submission at the time and analyse it to see if there is any potential to make a claim. You don’t need to dig out old files or paperwork, TTP will do the work for you.
· Terms of Business – This sets out how TTP do business. The key thing you want to note on here is the fees. TTP will charge 25% + VAT on anything they are able to obtain you in compensation. If they do all the work and are not successful then you pay nothing. So they are taking a bit of gamble they will be able to get you something.
A couple of other important facts people often want to know are:
· What does signing the forms commit me to? The answer is nothing. You are not committed at any stage. If you sign these forms and the initial investigation shows it is not possible to make a claim, you can walk away with no fees or commitment. If a potential claim is identified and actually won for you, but you just decide you don’t want it, you are free to walk away with no commitment or fees. The only time any fees are payable is if TTP make a claim, they win on your behalf, present you the offer and you want to accept it, then whatever you accept as an offer a fee of 25% + VAT is charged. That is the entire fee. No other fees are paid to us, this is taken care of between TTP and Totus separately.
· What if the polices are cancelled and I have no paperwork? Even if you no longer have the polices (which you probably don’t) that does not matter we can still make a claim for you. You do not need to dig out any paperwork or policy numbers, again all this leg work is done by TTP Financial when you sign the forms.
In case you were wondering what sort of redress (compensation) you could be due, I have attached an example of a win we had for a previous client against MI (now Sanlam) and Lincoln (now Sun Life Financial Of Canada). We have seen claims for clients as high as £20,000 all the way down to £500, but for a few simple forms to me it makes sense to have a look. The chap who will be doing the investigation has been doing it for a while now so has honed his skill at making these claims. He is good at spotting the little technicalities in the cases having made plenty of claims in the past. In a lot of cases both Merchant Investors and Lincoln have seen the name TTP turn up so many times with complaints that in cases where they might normally try to fight a complaint they give in straight away and offer a redress payment just because it is quicker and they know they will end up losing in the end if the complaint gets taken all the way to the Financial Ombudsman Service (which TTP will do on your behalf if required).
One other important thing to note. With the redress you get paid first in your bank account before you pay any fees need to be paid. That way you can see that this is 100% real, you have the money in your account for you to spend before you get an invoice for your successful win.
I appreciate there is a lot to take in and you might have questions, so if you want to call me, my direct dial is [TEXT REMOVED BY FORUM TEAM]. If you are interested in looking at this initially, I can also post out the forms to you with a pre-paid envelope to send them back to make things as simple as possible for you.
You can also email me back if you prefer and I can call you back. I just wanted you to know what the situation is. You could be due an unexpected windfall and I would really like to help you get access to it if I can.
Please let me know you initial thoughts.
Many Thanks,
[TEXT REMOVED BY FORUM TEAM]
Now I'm still not convinced, but I must admit it doesn't seem like your typical anonymous cold caller. I've checked out the company and it seems legit.....
Has anybody had anything similar, or heard or dealt with this company???
Many thanks
Dano
REPLY ON BEHALF OF TOTUS CAPITAL
We appreciate that getting a call out of the blue from someone should always be treated with some caution, and totally understand why an individual would want to check independently by talking to other people who might have previous experience or knowledge.
Totus Capital is not a claims company. Our primary business is Tax and Financial planning for individuals and we operate under the regulation of the FCA. However, we do work with a claims management company called TTP Financial who specialise in claims for financial compensation/redress. TTP Financial mainly handle clients who dealt with Merchant Investors (now owned by Sanlam) and Lincoln (now owned by Sun Life Financial of Canada). We are only contacting people who actually had Lincoln or Merchant Investors policies rather than “cold calling” people. We are aware that a lot of clients who dealt with these companies were given bad advice - so the initial stage of the process is that TTP Financial would contact Lincoln/Merchant Investors to ask for details of the advice you were given in order to assess the quality of this advice, not to make a complaint without checking first.
It is true that TTP take a fee in the form of a percentage of any redress they secure. Any company that is in business has to make money to keep running, and we believe that the charging structure they offer of “no win, no fee”, is a fair one.
If you receive a call and have further questions please contact mkadmin@totus.com
0
Comments
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Sounds like a claims co to me.
Hopefully, someone who can help you more with this will post.0 -
Told you someone would post
wish I had a bet on that it would be either, Dunstonh or, Magpiecottage 
0 -
[TEXT REMOVED BY FORUM TEAM]
Cheers, as suspected i'll steer clear. The policies I had with Lincoln served there purpose at the time I had them so I have no complaints...and i'm not that hard up to bite a dangling carrot which could turn out to be poisonous...0 -
Lincoln policies were sold by tied insurance agents. They wouldnt be the best policies. They wouldnt be the worst. They were a product of their era. They would be old fashioned compared to today but any complaint would be measured on availability and standards in the year they were bought. Not todays standards.
Companies like this to generate a complaint knowing that statistically some will stick due to missing paperwork, clerical errors or just getting lucky with an auto payout. There may also be the odd mis-sale in there which is genuine but that is not the purpose of this mailing. It is to try and generate complaints for making an income for the company rather than helping people with genuine complaints.
A genuine regulated financial services firm would be more than happy to help you with a genuine complaint if you had one. I have done several over the years and never taken a penny. The same would apply to most. So, any firm doing this for commercial reasons should be avoided.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
This is somebody called Harjit Singh Jhooti.
On his website, he claims to have lots of ex MI consultants who can provide "corroborative evidence" and therefore that they have a greater chance of success.
This is a breach of the Conduct of Authorised Persons Rules 2014 which prohibits a CMC from suggesting it can get a better result than DIY for a product under FOS jurisdiction. This is because the MOJ, FCA and FOS all say it is not true.
If you think about it, all an ex MI consultant can say authoritatively is "I was/am a lying misselling scumbag".
They cannot say, "just because I was/am a lying misselling scumbag it follows that all my colleagues are/were lying misselling scumbags" - any more that we can argue that because of what happened in Paris all muslims are terrorists.0
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