SVS Securities - shut down?

My2penneth

shiznit76 said:

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" 

Yes, It is up to my new broker and ITI to make it happen. I have given them clear and legitimate instructions - they need to "make it happen" - that is ITI & "new brokers" responsibilities.

  I reckon though that my instructions will be buried in amongst many others in a big pile. I just want to be nerr to the top of the pile.

In the meantime, I hope to get Phoenix online and make a few trades and then eventually let everything get moved.

My2penneth

FairDinkum said:

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.

A few pages back there was a link to an ITI form on how to withdraw money. I would start with trying to draw out your existing balance of cash using this form. 

Hopefully, when this sh%%storm is sorted, you can create a Phoenix account (and that needs 48 hours to process - so do it now).

You should then be able to sell shares and withdraw the cash. 
I haven't worked out how to do this yet ( I asked a question earlier about Phoenix - no answer).

FairDinkum

This is the worst website I have ever seen - not even secure (https). The ID verification site isn't secure either and you have to send bank statements and photo ID - can't think of a better place for a hacker. The wording on the website - how confusing! You have to puzzle out what they want. There's no help to indicate that you need a Phoenix account to trade - in fact information isn't part of their technology at all. My attempts at creating a Phoenix account (which I presume I need as there's nothing else to click on) continue to fail so although I can see my stuff - I can't buy/sell/transfer so in many ways I'm in the same position as a year ago. 

FairDinkum

My2penneth said:

FairDinkum said:

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.

A few pages back there was a link to an ITI form on how to withdraw money. I would start with trying to draw out your existing balance of cash using this form. 

Hopefully, when this sh%%storm is sorted, you can create a Phoenix account (and that needs 48 hours to process - so do it now).

You should then be able to sell shares and withdraw the cash. 
I haven't worked out how to do this yet ( I asked a question earlier about Phoenix - no answer).

Thanks My2penneth - you have been a rock in this sargasso mess!

ronkswood

Watford1984 said:

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?

I am in the same position. The joint account joining process asks for my details and ID only. I have completed this and it states On-Boarding Submitted. Master account Approved. No details requested for my wife but she does appear on the account. 

pafpcg

My2penneth said:
.......

I reckon though that my instructions will be buried in amongst many others in a big pile. I just want to be near to the top of the pile.

.......

But with ITI's track record when selecting which clients to "welcome" first, won't they be selecting instructions from the pile in random order?

Good luck!

t237

How do you check if the ISA wrapper has been retained post migration? I don't think there is any indication it has?

pafpcg

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.

So that's in direct contradiction of the email exchange about joint accounts I had with ITI Account Management two weeks ago!

Here's the key passage:
My question:
1.  Are you saying that we cannot access our holdings unless BOTH joint account holders can meet your ID requirements?
2.  If one of the joint account holders CAN meet the ID requirements, will that joint account holder be able to operate the account and transfer the holdings to another broker?

ITI's response [my bold]:
As previously advised both clients will need to provide photo ID, it is a requirement, and not discretionary.

My2penneth

t237 said:

How do you check if the ISA wrapper has been retained post migration? I don't think there is any indication it has?

The only way to check seems to be to call the dealing line ! (he says sarcastically).

If it is any consolation/encouragement , my ISA account is not shown as "ISA" but Harry at ITI Capital looked at the accounts on his screen and confirmed that the ISA had been transferred and maintained its status.

I would suspect your ISA account is still an ISA but you just can't see it identified as such at the moment.


Dividends - seems to be being handled (well at least on my 4 accounts). No missing divis noted other than the known about iShares (although not IUKD as it is in Sterling). 

Watford1984

ronkswood said:

Watford1984 said:

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?

I am in the same position. The joint account joining process asks for my details and ID only. I have completed this and it states On-Boarding Submitted. Master account Approved. No details requested for my wife but she does appear on the account. 

Haha, oh dear. I'll get them to try the same in a moment.