SVS Securities - shut down?

manorhouse

Thanks masonic "nearly fell for the scam". i was never going to invest with XE but i was grateful for your opinion on them.
The point of sharing  yesterdays info was i think its connected to a SVS list.
The only time i have been "taken in" was via London brokers years back wills & co , and then SVS who i recall being told "we are nothing like wills & Co" , turned out much the same.
But all losses were bad tip advise ( they were just offloading for profit )
Never lost a share or cash. ( Just inconvenience of being locked out ) 
There must be comparisons of similar brokers in Germany for example .

manted

manorhouse said:

Phone call from 01291 428506 wanting me to claim against SVS via them.
Got my number from somewhere , claimed the administrates will drag this on and on ?

I got a phone call too, decided not to pick up, but good to know it was about SVS !

juliamarsh

manted said:

manorhouse said:

Phone call from 01291 428506 wanting me to claim against SVS via them.
Got my number from somewhere , claimed the administrates will drag this on and on ?

I got a phone call too, decided not to pick up, but good to know it was about SVS !

I'm quite convinced SVS's client contact details have been sold on. Several times a week we get calls from 'financial' companies supposedly following up on information we have 'requested' and this has been going on for quite a few months. Beaufort Securities is one, and yesterday it was Cleo Securities but I suspect they could be one and the same outfit. Usually they ask for my son but occasionally me. The fact that they always ring the landline, never our mobiles is a bit of a giveaway -  I was concerned about SVS ringing my children directly to try to persuade them to invest in dodgy companies, so in order to protect them I removed everybody's mobile numbers from SVS's database because I knew that if they phoned on the landline I would be able to intercept the call and fend them off. Has anybody else been targeted by Beaufort Securities or Cleo?

olderbutnowiser

juliamarsh said:

Has anybody else been targeted by Beaufort Securities or Cleo?

Well, as I've mentioned before, I have been contacted by several outfits but no idea who they were. They always know my name and then ask "how I'm doing" at which point I say I'm fine thank you and put the phone down!

Also getting a lot of spam email. Since all of this only started after the administration, it's obviously come from SVS's client list which is a pain but not much we can do about it.

On another front, LC promised us an update " towards the end of February" but nothing yet.

snipkin

We were advised early on by Leonard Curtis not to engage with any communications from third parties purporting to help get your money back or other such sales tactics. As soon as the 'How are you today' spiel commences, I just put the phone down, delete the text, whatever. I would certainly not engage them in any conversation - except perhaps for a few choice words...

johnburman

A further communication form LC would be most welcome - of the updating type, and not of the don't be scammed variety 

johnburman

LC read my last post.
New update from LC as promised.  Posted on their website.  Shame it dies not tell us much new.
First Progress Report Report period 5 August 2019 to 4 February 2020
HERW: https://www.leonardcurtis.co.uk/svs/ 

johnburman

And this will cheer us all up - from the First Progress Report:

The Administrators' current expectation is that an application to approve the Distribution Plan will be made to the Court in April 2020. Providing that the Distribution Plan is approved by the Court and by the Creditors' Committee, the current expectation is that the transfer of Client accounts to a single preferred broker would occur during the second or third quarter of 2020. In the event a transfer of Client Assets to a single preferred broker cannot be achieved, this timeline may extend materially and Clients will be updated accordingly.

olderbutnowiser

Talk about dragging it out......

FairDinkum

Seeing the level of fees racked up by various entities, I feel very happy that the FSCS is covering them. With the current market slide, I'll have to hang on to investments I had intended to dispose of. 
Unfortunately for HMRC I won't be able to declare income correctly since I will have no idea by the end of the tax year what my investments may have earned.