SVS Securities - shut down?

t237

olderbutnowiser said:

I can now see both my accounts with all the shares present although RDSB still shows zero for price. Both are showing On-Boarding Submitted. The cash for both accounts agrees with what LC have transferred. So I suppose that is progress.

It's worrying though that my Firefox browser flags up their website as being insecure. The sooner I get out the better.

Anyone think that it would be OK to ask for a transfer away now rather than wait?

Mine aren't even showing the shares, and the valuation is stated as 0 (should be around 70,000)

My2penneth

johnburman said:

You are all lucky. I'm tryign to onboard a joint account - but the online form is for a single persona. So what is the sole gender and single age of myself and wife?  Ha Ha.  Can somebody expalin why we should stay with this company?  And what does it say about their commitment to customer care?
Anybody SUCCESSFULLY transferred out yet to a new broker?

Easy...you are the "+" gender of LGBT+  ;-)

My2penneth

Today, I actually got through to someone on the SVS Migrated accounts number (option 1 when you phone). 
I have had a few minutes to recover now....

I wanted to see if they could on board my 2nd account which has been in limbo for 10 days.
Seems we can activate Phoenix for ourselves and NOT wait for ITI.
The ITI rep mentioned that the ISA custody charges might be dropped (this is one of the reasons why I want to move...)


(I'm still moving the accounts whatever even though there are long queues to do this according to the rep).

My2penneth

If your ITI account has been on boarded, you can select "create a Phoenix account"...the procedure is very simple..just a couple of clicks. 

You will then receive an email. This contains a temporary password and a link to the Phoenix login screen.


If you now log in with your new Username and temporary password for Phoenix , it will ask you to change the temporary password.

I was advised it might take 2 business days to gain access and see the text in the window below.




Making progress . at last.


(My wife's accounts also now show the share holdings).

hubcap

Im making reverse progress, logged in this morning and had the new svs popup asking if I would like to 

Do you want to transfer your current positions to our new platform?

the problem is, it lists my positions as:

AU0000067084

Star Phoenix odsh LSE -

29 - value £0.44.

which is a shame because I don't have holdings of that stock, never have and I thought my portfolio value was a little higher than that. Not going to click the yes button.
Will give it another week or two I suppose and try again, I feel sorry for people that have large parts of their wealth tied up in this mess. I work in software development, we do this sort of onboarding and import work all the time and there is no way we would let end users sign up in this state, seeing random account balances and holdings. 
Even more worrying is these will not just be random, they will be other peoples accounts holdings, I suspect the have a messed up the who has what holdings import files and are going back through each account line by line.
I.e. manually ticking back what everyone should have.

We should all be told, sorry, the import is proceeding - its more complicated then we though, and we will let you know when you have access. Not all this half in half out wrong data. Whoever is managing this process needs to be spoken to and understand this is peoples actual money and it matters.

MK62

I logged in this morning and the onboarding has been approved.....progress... ...

Unfortunately, it was shortlived, as I now just get an error when I try to create a Phoenix account...

Error:Could not find file 'C:\inetpub\wwwroot\S2T-ContentsV2\API\\Content\HooyuResponse\xxxxxxxxxxxxxxx_passport_Front.jpg

I can only assume that this is one of the files I uploaded during the onboarding process.....(the ones I'm sure it said would be deleted after the id checks were complete), and that it's on their system it can't find it (as I'm not using Windows it will never find anything at that location my end)

This just goes on....and on...

PS - share IDs are quantities are correct....cash balance looks right (though not checked all divs are there yet)......however share prices are wrong, so portfolio value is wrong

My2penneth

Expect the value of the portfolio to be incorrect - the share price are wrong.

the administrators have a meeting with ITI today and they (Leonard Curtis) will issue an update (on the LC website it says that they will issue an update today - the 3rd August).

The big question - will we get to a full year with no access...we are pretty close!!

MK62

My2penneth said:

The big question - will we get to a full year with no access...we are pretty close!!

Already passed the year mark......thread was started at 7:05am on 3rd Aug 2019......

My2penneth

MK62 said:

My2penneth said:

The big question - will we get to a full year with no access...we are pretty close!!

Already passed the year mark......thread was started at 7:05am on 3rd Aug 2019......

I knew it was close.....doesn't time fly by when you are having fun!........  

johnburman

You all beat me to it - IT'S ONE YEAR TO-DAY THAT SVS WENT INTO adminstaration.  And no access to shares of funds, not even now.

Does anyone in the world a) think ITI's onboarding is eacy, transparent and makes sense; and b) ITI Capital are a 'friendly efficient and caring company, with excellent communicaitons, and who have given me every indicaton that they value my custom and will give superior customer service in the future'?