SVS Securities - shut down?

johnburman

Let's apply for it.  At least we will then be able to answer our own queries (or not!)
And the reason why it is old is simple...they have not been able to fill the role, so that is why very little is being actioned and why th ephone takes oh so long to answer.

PS: the answer given on the phone that this will be reported "to senior managmeent" or "escalated" leads me to think that th esuctomer services team just answer the 'phones but can not actually *do anything*. 

PPS: the updated notice to clients of SVS finishes:

 due to the volumes of calls and emails we are receiving during this period, you may experience a greater wait time.
But why.   Yes they are onboarding 20000 unhappy stressed brand new clients, but they knew about that and have done so for the last 5 months. ,And they will have recruited all the necessary new staff to deal with them I am sure.  So why any "greater wait time"?
============
  

Customer Service associate

ITI Capital Private Clients (UK) · 02.03.2020

Type:

Permanent

Start Date:

April 2020

9406824

Update: I’ve been on the phone this morning with LC and apparently they have had a long conference call with ITI and have Basically told them to sort this mess out ASAP.

ive been told that ITI have guaranteed LC all issues will be resolved this week apparently they will have people also working thru the weekend to make sure of this.

Also been told again LC are sending staff to liaise with ITI.

sweeter_strudel

Progress update......
Hmmm, lack of progress update would be a better description.
72hrs and no Phoenix account live yet - still stuck at pending approval.

Has anyone actually managed to do any trading with Phoenix on their SVS holdings?

shiznit76

I'm still sitting on "onboarding submitted" 10 days later

sweeter_strudel

ITICAPITAL said:

Update: I’ve been on the phone this morning with LC and apparently they have had a long conference call with ITI and have Basically told them to sort this mess out ASAP.

ive been told that ITI have guaranteed LC all issues will be resolved this week apparently they will have people also working thru the weekend to make sure of this.

Also been told again LC are sending staff to liaise with ITI.

I've just emailed Leonard Curtis and told them to read the pages on this forum from 23rd July onward to educate themselves about the true scale of what is unfolding and how not one single person has yet announced they have successfully traded a share via ITI.

Zero out of 20,000 accounts and we are heading for two weeks after the handover.

I think ITI are not disclosing the true scale of the problems to LC during their briefings.

My2penneth

I have asked LC the question several times..almost to the point of bluntness - 
"How many clients have access to their accounts and can trade"
Pretty simple question, eh?
The reply is that 90% of clients have had their emails. 
So I, re-iterate the question to them...and they fail to respond.

(If they have people working through this weekend then it will not be solved this week as the financial markets close on a Friday..not a Sunday)

Thrugelmir

My2penneth said:

So I, re-iterate the question to them...and they fail to respond.

Has it occured to you that you are compounding the problem by wasting their time?  

johnburman

I wonder if My2penneth's question of LC is one that cannot be answered by them.  all LC will know is that 'their' clients have been moved over to ITI.  How far they have got with onboarding is for ITI  to know...if they do.  Now they may not say; I suspect it is zero to-day.  FYI I was told that ITI have staff overseas that work on weekends - I wonder if the UK staff do/will. 

sweeter_strudel

My2penneth said:

I have asked LC the question several times..almost to the point of bluntness - 
"How many clients have access to their accounts and can trade"
Pretty simple question, eh?
The reply is that 90% of clients have had their emails. 
So I, re-iterate the question to them...and they fail to respond.

(If they have people working through this weekend then it will not be solved this week as the financial markets close on a Friday..not a Sunday)

Very simple question indeed, and the answer is screamingly obvious too:

Zero

ITI don't have the b@ll$ to admit it.

Sheris

Thrugelmir said:

My2penneth said:

So I, re-iterate the question to them...and they fail to respond.

Has it occured to you that you are compounding the problem by wasting their time?  

More like how much of my time and life have they wasted