SVS Securities - shut down?

My2penneth

If you email LC they will send you a pdf file which details what has been transferred to ITI. The list details what shares and itemises the dividends transferred. 

I checked on my non ISA account with ITI that everything had come across ( shares and cash). It seems to be in order.

My2penneth

Jools2001 said:

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

Have a look at iWeb. Trading is £5 to buy and sell. There is a one off £25 fee but that is all, even if you subsequently open up an ISA account. Note.. iWeb don't charge a custody fee neither.  They are part of the Lloyd's bank group.

I already hold an iWeb account ....works fine. I've opened up an account with interactive investors ( ii) but there is a £10  monthly charge but this is offset by one free trade per month worth £7.95. 


BTW.?.we have 6 months to transfer our accounts for free. One should initiate it through the new broker....not by ITI. You are under no obligation to tell them you are planning to move. 

Charges equivalent to SVS apply for 3 months. 

olderbutnowiser

Jools2001 said:

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

@Jools2001 I would be very grateful if you would let us know what, if any, response you get to your email.

I opened a shares account with HL recently ready to receive my share account from SVS and when I asked them if I needed to open an ISA in advance of  transferring my ISA, they said it wasn't necessary "as the request will automatically open an ISA on your behalf "

Also HL provide live prices for no extra charge although I accept they are not the cheapest option.

LEAR1

Jools2001 said:

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

Jools2001, would also like to know what you response get as I too want to transfer away asap.

I'm assuming from the lack of replies that my earlier idea of getting some sort of proof of ISA-value to facilitate a quick cash-out withdrawal and then prompt reinvestment with another platform doesn't hold any merit ...
My2penneth, what's the great advantage to initiating the transfer via my preferred broker than via ITI?

My2penneth

I thought that requesting a transfer from the "preferred broker" was the generally accepted way of doing things..leaving them to handle such things as ISA accounts. 

gibson81

Is there a function to link a bank account to the ITI platform as I would like to withdraw the cash?

My2penneth

I got fed up of no reply from ITI  (SVS clients press option 1) and so rang their trading platform desk instead!  The guy on the trading desk was helpful and said he could see/confirm  that I had 2 accounts, a non ISA and an ISA. I had explained that only the non ISA account was visible.

( I see other people can only see the one account too so it might be of some interest to know that although you currently can't see all accounts...don't panic just yet!)

The trading of shares needs to be done through their Phoenix software. We can't do that at the moment.  I'm guessing that this is where one supplies info on a linked bank account to transfer money to and fro.

gibson81

leonde said:

gibson81 said:

Is there a function to link a bank account to the ITI platform as I would like to withdraw the cash?

Surely there must be (or will be), but I find the whole interface rather confusing (and incomplete?) so far.

My ISA account is now visible with the cash balance. It does appear to be transferring over - just maybe not as immediate as we would like but after nearly 12 months...

cashsaver

Hi everyone,
I have been trying to go through the onboarding process since early this morning - a linnk on the site is broken and doesn't therefore respond to the uploading of all the documents they want.  I have paperless utilites so when I screenshotted it from my online account, it got rejected. Spoke to a few people, Harry has been helpful but Roland gave me a customer service number which when I rang was Leonard Curtis. Came up on my phone as George Spencer from SVS.  An account Manager told me to pdf a bank statement to the general info@iticapital and it will be passed on! Don't think that is very secure ironically!
Sent an email to the inf@ and have had no response and now have been booted out of the onboarding with a message telling me I have to wait another hour as I have been timed out so many times whilst trying to find someone to help. Anybody have any ideas where to go from here to get hold of somebody - I would take my assets out of there if I could get hold of someone to help me do it!  Rant over but soooo exasperating!
Good luck everyone

pafpcg

My2penneth said:

....
The trading of shares needs to be done through their Phoenix software. We can't do that at the moment.  I'm guessing that this is where one supplies info on a linked bank account to transfer money to and fro.

Not necessarily!

The ITI system may not have the concept of a linked bank account.  Has anyone with access checked?  The situation back in June when I posted the following comment after looking at their help files & documentation, was that the client specifies the bank account details at the time of withdrawal.  The same could be true of deposits. But until I get access to the system (I must be in the last batch), I'm not certain what the situation will be.

"2. Cash withdrawals won't be as simple as with SVS:  rather than a form in the SVS online system to specify how much to withdraw to the nominated bank account with funds credited two days later, with ITI there's just a blank PDF form which has to be printed, all the ITI account details, bank account details, amount required etc written in, then signed, then scanned and e-mailed to ITI;  the request will then be actioned within two working days and funds sent via BACS (another two days minimum).  With critical data such as account numbers having to be transcribed at least twice, the chances of errors are much increased."