SVS Securities - shut down?

adeel26

I can now see ticket open for 

Category:

Transfer to Interactive Broker (Internal)

but no details has been asked by ITI

My2penneth

shiznit76 said:

pafpcg said:

shiznit76 said:

Can anyone recommend a good alternative to ITI? Looking for small number of shrae trades each year. Looked at Iweb, but they seem to get poor reviews

Not on this forum they don't!  OK, IWEB has occasional problems but lots of folks here (myself included) are satisfied with what they offer at the price they charge.

Cheers, will get my money out of here and over there as soon as i can, take the hit on costs. Not keen on ITT with what i have experienced so far

I'm quite happy with iWeb. They do what I want, easy to use and they provide quarterly statements (unlike SVS). They are also backed by Lloyds Bank. 

My2penneth

Share.com is the web site, they were The Share Centre and they have recently been acquired by Interactive Investors (whom I will be transferring my wife's accounts to).  Interactive Investors are either the Number 1 (*)  or Number 2 platform in terms of clients and so I feel they will be around and "won't do an SVS".
They charge £10 per month for all account fees (custody charge) but that covers both trading account and ISAs...so just a tenner a month in total. You do get one free buy/sell deal per month (£7.95  - same as SVS). I can quite easily buy/sell 1 holding per month so the net charge is a couple of quid per month. 

(*) Hargreaves might be No.1 ?

By the way, for MY accounts, I've already filled in the paperwork with iWeb to transfer to them . I contacted iWeb (chat line) and asked if I could email the transfer requests but they prefer hardcopy with a "wet" signature (their words).

My2penneth

cashsaver said:

Hi Everyone,
For the few who have managed to successfully complete onboarding, how long did it take please? My onboarding request no says 'open', the site is so glitchy and confusing and I keep being timed out and having to wait an hour. Pin numbers do not get texted either.  I have been trying to sort this since Friday morning - can't get hold of anybody who knows apart from the lovely Harry at the trading desk who must be pulling his hair out, but the only thing he can do is send an email to those above him which haven't been acted upon either.
Can't even pull my assets out of there as there is absolutely no customer support.
Feeling this could go on for a substantial amount of time - hopefully not another year!
Good luck everyone.

Check that your main telephone line is a mobile. Mine wasn't . I've been getting the 6 digit verification code by email. It can take 30 secs from login to arrive. Check your email. 

hubcap

cashsaver said:

Hi Everyone,
For the few who have managed to successfully complete onboarding, how long did it take please? My onboarding request no says 'open', the site is so glitchy and confusing and I keep being timed out and having to wait an hour. Pin numbers do not get texted either.  I have been trying to sort this since Friday morning - can't get hold of anybody who knows apart from the lovely Harry at the trading desk who must be pulling his hair out, but the only thing he can do is send an email to those above him which haven't been acted upon either.
Can't even pull my assets out of there as there is absolutely no customer support.
Feeling this could go on for a substantial amount of time - hopefully not another year!
Good luck everyone.

ha, depends what you mean by successfully complete, I got the email Saturday mid afternoon, couldn't log in because it was sending the two factor auth sms message some where, but not to me, eventually worked out it was coming as an email as well, got in this morning, can see account balance but not the shares, adding the identity stuff was quick, 10 minutes or so.

Not sure what's next, waiting I guess for the shares to appear...

I have a hunch their system can't send sms messages, or they are using the format 004407..... shouldn't have that last 0 and is sending them to. black hole.... or Russia.

My2penneth

I started "on-boarding" on Thursday - this is the current status
. If I select "continue on boarding" I get an error msg.

[Deleted User]

pafpcg said:

I see that ITI have contracted-out their identity checks. to HooYu  That probably explains the rigid ID requirements.

Delays also happening I guess because they might have to do things like recent insolvency searches for each of us, otherwise they would be liable to creditors if they gave a bankrupt client ability to sell assets. Has anyone been able to actually start trading, maybe those who went through the "on-boarding" process first? How long does it generally take from completing the on-boarding process to being given actual access to our assets? Is it definite that we have to open a Phoenix trading a/c and then use their platform which is probably designed for professionals rather than private investors? Like everyone, it seems, I'm eager to desert the ship as fast as possible. Thanks.

Danie6

Good tip. My login OTP first arrived by SMS, then not at all, then by email landing in my bin, and after a complaint again by SMS. Seems like it is also now sent to my email. I have now been told that I have to wait an hour to logon. Still waiting for my assets to arrive, but have in the meantime filled and sent a withdrawal form for the cash I think should be there. I can also not figure out how to get the Phoenix account platform installed.

snipkin

To My2penneth - I get the same error message - with no explanation of what the error is... I have 'On-boarding Submitted' on one (non-ISA) account and 'On-boarding in Progress' on my ISA account  - which has also got the red 'Continue Onboarding' button which leads to the '! Error'. Not sure whether 'Submitted' is a more advanced stage than 'In Progress'... It has been like this since Saturday with nothing seeming to happen. I can see my share holdings and cash but at this stage can do nothing.
To move brokers may be quicker than trying to work out how to sell on ITI's platform - and this is best requested from the new broker so you don't need to contact ITI. (which seems near to impossible at the moment\0. However, I would just like to extract my accrued dividend  cash first so I might try emailing ITI a filled out 'Limited Withdrawal' pdf form. I wonder what's 'limited' about it?? So near yet so so far...

Danie6

When I try to create the Phoenix platform I get a message:"Object reference not sent to an instance of an object". And thats all. Can anyone explain this to me, and what must I do? I just want to be ready when my assets arrive.