SVS Securities - shut down?

sweeter_strudel

Progress report....
(There won't be many more of these the way ITI are underachieving)
Cash arrived from trading account in my bank after my Friday withdrawl request.
Trading account onboarding completed, share prices and valuations close, but no cigar....
ISA stuck at on-boarding submitted, share prices and valuations close, but no cigar....

Phoenix account opening still in pending, with the ominous caveat about taking 48 business hours "in normal circumstances". Bet you this ain't normal. 

Bet you no-one has managed to trade a share yet.

FairDinkum

Finally received my invitation email yesterday evening!! Tried logging in this morning but it failed at the first hurdle by not sending me the validation code by either email or SMS. I wasn't very surprised. I'll try later. I presume this is par for the course.

My2penneth

More fun ahead!  
My Phoenix account ( yes, yet another account number and password) is now pending. 3 accounts. My ISA, a non ISA account and a Phoenix account.

How the heck do you add funds from one's SCXXXXX account and how does it know if it is buying shares in the trading account or for the ISA?

My2penneth

The last update on the ITI Capital website was 28th July. 
They can't even update their own website!

rugby7170

Has anybody traded yet ? 

johnburman

And I have onboarded myself (only) to our joint account!  You can not add the other person to the joint account.  This is all so weird and they have had sooooo long to prepare for this. 

PS.  Note to LC on their note of 3 Aug - there is a world of difference between all clients receiving a logon email and them being a) onboarded and b) able to trade i.e. fully operational. 

We have all now received logon emails (2 weeks after the 23 July).  But few have been fully onboarded and nobody can trade.

shiznit76

My2penneth said:

I received a text msg from iWeb to say that they have received the transfer request on my 2 accounts and they have posted the paperwork to ITI Capital to initiate transfer.

I've just filled in the transfer paperwork with Interactive Investors for my wife's accounts and will post off tonight.

Unsurprisingly, ITI Capital wasn't recognised by iWeb nor Interactive Investors so they will have to transfer accounts "manually" and not by electronic transfer. So I had to supply contact details (good luck getting through on the phone).

There's 4 accounts that ITI Capital have lost.

are you transferring out before onboarding is completed? Let me know how that goes, want to transfer out also, but was holding out for onboarding to be complete, but that's 10 days in now and still just saying "onboarding submitted" 

Watford1984

johnburman said:

And I have onboarded myself (only) to our joint account!  You can not add the other person to the joint account.  This is all so weird and they have had sooooo long to prepare for this. 

PS.  Note to LC on their note of 3 Aug - there is a world of difference between all clients receiving a logon email and them being a) onboarded and b) able to trade i.e. fully operational. 

We have all now received logon emails (2 weeks after the 23 July).  But few have been fully onboarded and nobody can trade.

John - a few of my friends have joint accounts. Can you please explain what you did - did you just provide your ID and your ID only?

MK62

I've gone back from "Approved" to "Onboarding Submitted"........(under "My Portfolio" - "Existing Accounts").... ...just what IS going on I wonder?

FairDinkum

After about 90 minutes I have, with immense difficulty (and ingenuity) obtained access to see my account and it seems to be all there and the portfolio values look about right but there are no transactions listed and no cash statement. The Cash value has no explanation. I have asked for a Phoenix account several times but nothing happens. All I really want to know is how to sell everything and extract the cash.