New group founder works with another group

in other words his dealer group has failed already...that was quick...

An 'adviser' from some Total co which has Kotwal as director visited a local client after a telemarketer approach. She brought everything that resulted from the meetings with that adviser to me, as it didn't seem "right" to her. I had to triple check that she had brought everything, as there was no disclosure statement, no letter or statement of advice, no research, comparison or analysis, and no advice on replacement business. There was only the first page of the company quote, a hand-written business card, and the insurer's product info sheet with pen marks scrawled all over it.

A quick check of the FSPR was intersting. Both the adviser and Kotwal are shown as not being in a DRS, and are "Not providing any financial services to retail clients". Further, the company named on that business card does not exist on the companies register. Seems Kotwal and co have an awful lot to learn, and fix, before they can be compliant, let alone call themselves "specialists".

Now, where's the Sherrif?

I do not understand where this person "compliant" has got his information and am sure once again it’s someone with strong personal ties with his group who is intentionally out to try and malign our name.


There are a lot of companies whose names start from Total Insurance and WE ARE NOT THE SAME one that this person is talking about. There are also some who are not registered as Total Insurance but trade under similar names.
We did have a company with a similar name in the past and there are no advisors or have had advisors under that company and there is no business done under that company name since a very long time and also to set the record straight, we are not the same he is talking about. We do not operate by hand writing names on business cards, no disclosure documents etc.
The Advisor Channel and its advisors work in partnership with a compliance audit company for compliance and follow correct procedures at every step.

We also DO NOT HAVE TELEMARKETERS CALLING up clients and signing up everything without correct paperwork etc. We do however get regular calls from clients complaining about telemarketers calling us thinking it was our telemarketer who called them saying that they are calling from Total Insurance. Not knowing which company is using that name for their telemarketing we nor the clients do not know whom to speak to as their telemarketer does not leave behind a contact number.

We do not need to however just to set the record straight, we The Advisor Channel and I are both with FSPR and a DRS and they are free to check with Financial Disputes Resolution (the default providers) if they wish to.

Further this individual has mentioned that this company does not exist on the company’s register, but starts his paragraph by saying that the company was Total something and I was the director of that.

I would recommend to this individual to go do something constructive with his weekend like spending time with friends and family rather than randomly point fingers on someone without knowing facts and waste other people's Monday morning to clarify these facts.

Hmmm interesting...if you search on the companies.govt.nz website there are certainly plenty of references to total insurance specialist(s) ltd, total insurance specialist ltd, total insurance and financial services ltd and total insurance ltd of which Mr Mehernosh Kotwal is or has been a director of...

Settle down Mehernosh. I knew you would be looking. But it was snowing and I dont have friends, except on facebook.

I got my information first hand by talking to a client and looking at the FSPR itself, which I thought obvious from the first post. I didn’t say the telemarketers signed them up, but they were approached and the appt booked by phone. If you don’t do tele work, you are missing out.

The company named on the business card was not mentioned in my post. The card says XXX Ltd, trading as Total Insurance etc etc. That company does not exist. I didn’t mean to imply that the name was Total or a Channel or even a frequency.

Yes there are many pretenders out there who obviously prefer to make a Total Farce of the regulations, or at least try. Seems the name Total is popular. It’s also a brand of lubricants too. So maybe I wasn’t Totally Correct there. Since the adviser my client saw made a Total Mess, I would think that your (old?) brand may be suffering at the hands of others with confusingly similar names. So I apologise on their behalf too, and will look into tracking the real culprits.

I am not aligned, tied, preferred or in any way subject to any group. I have not got ginger anything, or a network or partnership to my name so just forget that allegation. If I want aggregates I can always go to a quarry. One can accept your defensiveness though, as half the adviser world appears to think this new group won’t work, and the other half seem to be indifferent.

You may like to copy this to your browser. Is this the same "The Advisor Channel" that you refer to? This participant is in a DRS, but only provides generic and wholesale services. In other words, Kotwal is not registered to actually be an adviser. Or have I missed something.

http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryCompanyFSP/FSP105071/5.do?noReturn=true

It seems a pity that another adviser can make negative comments about someone else and remain anonymous.

I have re-looked at the documents. The company purports to be J A ltd. Trading as Total Insurance 4 Us. There are two folks on the FSPR as that name, one as above and another with no spaces "totalinsurance4us". Manisha and Piyush Bothra of Palmerston North.

So only the points about Mehernosh's FSPR details being wrong, along with the "The Channel" details being odd remain valid. Apologies to Mehernosh for 1 out of 3.

Thanks for the comment "Brett". I appreciate using any old first name is Totally Conspicuous compared to a random word. I reckon we wouldn't have much open contribution to these forums if real names were required.

Thanks for your clarification "Conspicuous"

The problem with attacks on other Advisers from the cloak of anonymity is that it smacks of the witch burning at Salem where any anonymous accusation could get someone burned at the stake just on someone else's say so.

Discussion and the contest of ideas is great. Slander or anonymous accusations are at best ungentlemanly.

My name for the record is Brett Bennison, phone 09 4442201.FYI, I don't know Mehernosh.

Thank You Brett.

I am glad that this industry still has some Advisors like yourself with Integity who are ready to stand up even for someone whom they don't know because it is the right thing to do.


Their comments about me and my group are totally with incorrect information.

Their comments and accusations have nothing to do in any way with the Editorial and it is quite clear that these are people with ample time on their hands and their agenda is to " waste time and malign people".

I was not going to comment, however I wanted to thank you personally for standing up for what is right.