SVS Securities - shut down?

manted

@My2penneth - I wouldnt create another account until and unless ITI mention this is needed for cash withdrawal ..
Did anyone else notice the notifications all have funny timestamps -
1. Account Creation - shows yesterday morning's timestamp when we all got emails today
2. Request for account onboarding shows a future timestamp when we have submitted it now ! 

rnf11

Sent an email to ITIC earlier this morning seeking their confirmation re alternative iD info.

Now just got a satisfactory response in 90 minutes.

Not too bad, in all the current circumstances.

snipkin

The 'onboarding' form is not very good in my opinion. Much of it is very faint and difficult to read (or perhaps it's because I'm due my much-delayed eye operation?) and it has windows within windows... Then it wants me to take a 'selfie' on my phone and somehow send it to them - well I'm hopeless with phones... There is no option to upload a 'selfie' from my computer like with all the other documents so I am now stuck and I cannot progress any further. I cannot see the 'Save for Later' button anywhere so if I don't get a reply from my query about this soon I might be logged out and have to start all over again... In fact, it's gone... And there's my other, (Shares ISA) account as well which I have not yet heard about... There should be a list of documents required before starting so one can have everything ready. I'm not very impressed at all with this rather 'clunky' onboarding system.

[Deleted User]

helencary said:

Advise please
is it best to say I want to transfer initially to another broker  or leave it for a while. Will I be charged a transfer fee? I would like to tidy up my account by selling a few shares before transferring ideally. 

Hi, I'm in a similar situation to you, in that I wanted to sell all my holdings, then transfer the resulting cash to my nominated bank account and close down the ITI account... although if the market crashes before that which is quite possible, I'll instead sell some holdings and buy more of others, and transfer those out to another broker that I have an account with. 
I asked Leonard Curtis what the situation was, whether that kind of delayed leaving of ITI would make me liable to an exit fee. The wording on one of their last communications to us had implied that we had an either/or choice, of either leaving immediately or deciding to join ITI. They however told me that the implications of their wording was unintentional, they hadn't foreseen people doing what we want to do, but told me that so long as we do everything within the 3 month window where SVS charges apply and there's no exit fee, then there would be no transfer or exit fee. Hope that helps.
I'm still waiting for my initial email, and rather perturbed by all the unusual things that they're asking us to agree to.

My2penneth

If your computer has a webcam you can use it to upload a photo. Most laptops have webcam built in.

helencary

Silly_Donkey said:

helencary said:

Advise please
is it best to say I want to transfer initially to another broker  or leave it for a while. Will I be charged a transfer fee? I would like to tidy up my account by selling a few shares before transferring ideally. 

Hi, I'm in a similar situation to you, in that I wanted to sell all my holdings, then transfer the resulting cash to my nominated bank account and close down the ITI account... although if the market crashes before that which is quite possible, I'll instead sell some holdings and buy more of others, and transfer those out to another broker that I have an account with. 
I asked Leonard Curtis what the situation was, whether that kind of delayed leaving of ITI would make me liable to an exit fee. The wording on one of their last communications to us had implied that we had an either/or choice, of either leaving immediately or deciding to join ITI. They however told me that the implications of their wording was unintentional, they hadn't foreseen people doing what we want to do, but told me that so long as we do everything within the 3 month window where SVS charges apply and there's no exit fee, then there would be no transfer or exit fee. Hope that helps.
I'm still waiting for my initial email, and rather perturbed by all the unusual things that they're asking us to agree to.

Thank you for your advice. 

I’m just hoping to tidy up my account before transferring. 

I haven’t received an email today from iti. Just one yesterday evening saying there would be a delay. 

My2penneth

I didn't get an email last night but I did get the invite to the ball today.

My wife got the email saying that there was a delay..but no invite! 

olderbutnowiser

dm01_2 said:

When you get the welcome email and you log in initially, it says don't need to agree these terms unless using them and also do you want to transfer onto our new platform yes/no? If I want to transfer out my SVS shareholding and cash, do i tick yes or no? and do i agree terms even though I don't want to use them? I have emailed the company but don't expect a quick response so just wondered what other people chose and what options came next.

I am in exactly the same situation, except that I haven't yet received the welcome email, but would dearly like to know how to respond when I do. It seems daft to me to have to agree to their T&Cs when all we want them to do is forward on to our new brokers everything they have received from LC. However if we don't accept their terms, is there still a way of at least seeing what assets and cash have been transferred to we know if it's all there?

shez.85

helencary said:

Silly_Donkey said:

helencary said:

Advise please
is it best to say I want to transfer initially to another broker  or leave it for a while. Will I be charged a transfer fee? I would like to tidy up my account by selling a few shares before transferring ideally. 

Hi, I'm in a similar situation to you, in that I wanted to sell all my holdings, then transfer the resulting cash to my nominated bank account and close down the ITI account... although if the market crashes before that which is quite possible, I'll instead sell some holdings and buy more of others, and transfer those out to another broker that I have an account with. 
I asked Leonard Curtis what the situation was, whether that kind of delayed leaving of ITI would make me liable to an exit fee. The wording on one of their last communications to us had implied that we had an either/or choice, of either leaving immediately or deciding to join ITI. They however told me that the implications of their wording was unintentional, they hadn't foreseen people doing what we want to do, but told me that so long as we do everything within the 3 month window where SVS charges apply and there's no exit fee, then there would be no transfer or exit fee. Hope that helps.
I'm still waiting for my initial email, and rather perturbed by all the unusual things that they're asking us to agree to.

Thank you for your advice. 

I’m just hoping to tidy up my account before transferring. 

I haven’t received an email today from iti. Just one yesterday evening saying there would be a delay. 

I haven't received an email either today.I rang up and they told me that emails were sent in 3 batches, morning, lunch and the third would be this evening. The gentleman said the fact you had received an email informing you about the delay yesterday meant you would be included on the distribution for the account details. Not ideal, but hopefully we receive something at some point today. 

Jools2001

Also e mailed them, about what boxs to tick, so i can just transfer out,and NOT pay any costs! Not received anything about my ISA holdings, so looks pretty dire so far, and a bit unprofessionable when not doing things as they said they would, and on time!
I opened a new isa with XO ,so will be transferring my holdings over to them, but wondered what similar price platforms others here are using,as i want to move my wifes isa into a different broker, in case this same senario should happen again !
Also anyone using a broker, who provides free live ftse/aim prices, as i currently pay for this seperately !
thanks in advance,  Jools