SVS Securities - shut down?

johnburman

masonic please list them.  Who "gives you an overall saving vs SVS, but with a much better reputation, and UK regulation and FSCS protection."  Very few, if any; but please prove me wrong.

masonic

johnburman said:

masonic please list them.  Who "gives you an overall saving vs SVS, but with a much better reputation, and UK regulation and FSCS protection."  Very few, if any; but please prove me wrong.

Compared to SVS (buy and sell = £16, no custody charges), there is...

iWeb (buy and sell = £10, one off £25 opening fee), Jarvis (buy and sell = £12, no custody charges), potentially AJ Bell (buy and sell = £11.50 if using regular investing service, plus up to £30pa custody charge), Interactive Investor (buy and sell = £8 if using regular investing service, £24pa custody charge if you trade at least once a month) depending on usage. Even Halifax Sharedealing and Hargreaves Lansdown can come out cheaper for unwrapped accounts if you make use of their regular investing services to place your buy orders.

englishmas

Any idea whats going to happen to the SVS Advisory Accounts,  Do you think they will be treated like X O accounts.
Do you think they will also be treated like X O accounts and transfer to another online trader.

masonic

englishmas said:

Any idea whats going to happen to the SVS Advisory Accounts,  Do you think they will be treated like X O accounts.
Do you think they will also be treated like X O accounts and transfer to another online trader.

If the holdings are compatible with being transferred to an execution only broker, it would be the simplest option and it is possible LC could negotiate a waiver of any onward transfer fees. Do you know of anyone who used the advisory service?

manorhouse

I have accs with all of the ones masonic has listed .
What on earth is the problem with seeing all the ones available.
Today i traded four times with Degrio that cost me approx £8 .. HL would of been £60.
I have no problem if some on here only want to shop in waitrose , many might have got money to easy .
I want to look in tesco , maybe iceland or God forbid a foreign shop like lydl .
That does not stop you or me going to waitrose.

englishmas

Thanks Masonic for your response, Yes I am one the stupid one, regarding the holding some the companies now virtually worthless or just near to it. but still shows up in listings
Regarding the brokers, I have some holding with X-O ( Jarvis) and Degrio,  both work fine with my small holdings and relatively cheap.
One problem have encounter with Degrio is funding the accounts , it takes few days funds to show up in the account, where       X-O you can use the debit card and then you can trade same time.

masonic

manorhouse said:

I have accs with all of the ones masonic has listed .
What on earth is the problem with seeing all the ones available.
Today i traded four times with Degrio that cost me approx £8 .. HL would of been £60.
I have no problem if some on here only want to shop in waitrose , many might have got money to easy .
I want to look in tesco , maybe iceland or God forbid a foreign shop like lydl .
That does not stop you or me going to waitrose.

I've got no issue with people who wish to shop at Waitrose vs Tesco vs Iceland, or even those going for Aldi or Lidl. Those are all sustainable businesses. But I would caution people against buying their food from a bloke unloading it from the back of a white van, or from a street trader in a back alley, even if you can pick up for a fiver a shop that would have cost you £50 in a traditional supermarket. You might arrive home to find things aren't as they appeared when you made your purchase.

manorhouse

Degrio ( who i am with ) compared to bloke unloading from back of van.
Do you want to have another think about that masonic ?
I have no experiences with fenco that is the point of moving on from pointless discussions about admin and looking for new homes .
Some might only want to look at the old ones some might not.

johnburman

Interesting discussion, but the point is that *all* the brokers are regulated and all have some sort of compensation system in place and all have some sort of segregation of assets.  Point is how good are all of these?  We sort of know the FCA and FSCS, but what about the Dutch and Italian?  And what about the dual regulated TRADING 212, here in the UK and the Bulgarian regulator?

It is not a Waitrose v Lidl argument.  It is a FCA UK broker   v Foreign regulator.  AND the foreign may be better, or like Iceland going bust in 2008 they may be hopeless   

Alexland

As we have seen with SVS a platform failure it is already complicated enough without needing to get your head around applying for overseas compensation and there are plenty of UK domiciled platforms offering good value for various different investing needs.

Having said that my biggest Vanguard ETF is Irish with no protection so maybe I should visit to check they are not operating out of a van? Oh dear they are driving away with all my money...