SVS Securities - shut down?

snipkin

Thank you for your e-mail. Please accept my apologies for the length of time taken respond to your e-mail as we are currently experiencing an extremely high volume of calls and e-mails. I have reviewed your account, and can see that your selfie has been uploaded successfully. Please feel free to contact me should you require anything furhter. Kind regards, 

This is the email reply I have recently received today from ITI to my 'ticket' enquiry of 24 July... I have long since resolved the problem I had with uploading a 'selfie'. ITI are, for sure, under a very large backlog of emails if it has taken them this long to reply... (they may be prioritising their replies towards more urgent queries, of course).

It felt kind of good, though, to receive an apology.

rugby7170

LC should have checked that ITI were able to handle all the 30,000 SVS accounts. Clearly they did not. It seems that this isn't ITI's market. Do they have any other retail clients like SVS's ? 

My2penneth

The next step? 
My wife's accounts are successfully on boarded (I think). So, how do we trade? .. There's nothing in here that is a pop down menu to say buy/sell?


In my account, I have actually got one account on boarded (the other is STILL pending 12 days now ) and I downloaded Phoenix which stands alone as a 3rd separate account with a PHxxxx account number.

I've had a play around with Phoenix and I'm awaiting to see how I can move funds from, say, my "approved" trading account to Phoenix so that I can buy shares.  I received some instructions (guides) from one of the desk brokers but they do not cover this aspect. 

I should say that at this stage, my Phoenix account is "pending". Maybe once approved it will become clearer as to how to trade and move funds into Phoenix ..if this is indeed the way to buy & sell shares? It is just that the window (photo above) does not provide any pull down menus to allow trading.

sweeter_strudel

Progress update....
I now have two Phoenix accounts..... or maybe I should say, it looks as if I am trying to set up two Phoenix accounts.
I received an unexpected and spontaneous second invite with new login details, after first doing the process at about noon last Friday. 48 hrs to activate...? 77 hrs have already passed and it is not yet approved.

The most recent account also wants 48hrs to be approved - so early evening Friday if 48hrs is a realistic timeline. The second account is listed as Pending on my ITI Login web page - next to my Approved Trading account and my ISA still stuck in "Submitted" and seemingly going nowhere account. The first Phoenix application is not listed in my ITI Login page. I wonder if the key detail in order to be able to trade SVS holdings is to ensure the accounts are linked?

Looks like only my second Phoenix account is being linked at the moment.....

englishmas

Hi My2penneth
I would appreciate if let us know ho to transfer share from onboard account to Phenix accou d for trading .I have bouth accounts active but donot know  to trade. Onboard account has it has no option for trading, Phenix account has the options but first you have to fund the account. There is no option for transferring shares from onboard account.
If you know how to do this please let us know 
Thanks

My2penneth

englishmas said:

Hi My2penneth
I would appreciate if let us know ho to transfer share from onboard account to Phenix accou d for trading .I have bouth accounts active but donot know  to trade. Onboard account has it has no option for trading, Phenix account has the options but first you have to fund the account. There is no option for transferring shares from onboard account.
If you know how to do this please let us know 
Thanks

We are in the same position...that is, we are not sure of the next step.

 How does one actually buy & sell shares? That was the question I was asking. At the moment it is not obvious to me as how we might do this. 

Hopefully,  over the next few days we collectively will learn how to do this! 

( I'm just glad we can discuss over the Internet....years ago we would have been on our own, wondering what the heck was going on!).

Jools2001

As yet, mine and my wifes ISA accounts have not received any log in details from this shower of !!!!!!! only our trading accounts,
so obviously more bs stating that ALL clients have NOW  received log ins for all accounts!
 still not had a reply back from iti email sent over 2 weeks ago!
In regards to when i set up our accounts tomorrow ,i only want to just transfer out all our accounts,but read somewhere i didnt need to onboard! Anyone advise the easiest way to not accidently tick an incorrrect box on sign up, so i can start the process of transferring to another broker,and will the isa accounts appear after signing up with our normal trading accounts, or are the isa accounts , sent as separate logins? 
any help greatly appreciated, with this fiasco of a balls up by iti!!!

manted

sweeter_strudel said:

Progress update....
I now have two Phoenix accounts..... or maybe I should say, it looks as if I am trying to set up two Phoenix accounts.
I received an unexpected and spontaneous second invite with new login details, after first doing the process at about noon last Friday. 48 hrs to activate...? 77 hrs have already passed and it is not yet approved.

The most recent account also wants 48hrs to be approved - so early evening Friday if 48hrs is a realistic timeline. The second account is listed as Pending on my ITI Login web page - next to my Approved Trading account and my ISA still stuck in "Submitted" and seemingly going nowhere account. The first Phoenix application is not listed in my ITI Login page. I wonder if the key detail in order to be able to trade SVS holdings is to ensure the accounts are linked?

Looks like only my second Phoenix account is being linked at the moment.....

I tried setting up a phoenix account on Monday & i received a request to setup another phoenix account today. The first account is still showing as pending, and i can also see the second phoenix account under my ID. Looks like they are continuing on their leisurely pace of setting up trading accounts for people who on-boarded ! If only they had used common sense and sent everyone the email to not onboard if they are transferring out, it would have saved them a lot of time and effort. But as they say 'Common Sense is very uncommon'

Halty2

Jools2001 said:

As yet, mine and my wifes ISA accounts have not received any log in details from this shower of !!!!!!! only our trading accounts,
so obviously more bs stating that ALL clients have NOW  received log ins for all accounts!
 still not had a reply back from iti email sent over 2 weeks ago!
In regards to when i set up our accounts tomorrow ,i only want to just transfer out all our accounts,but read somewhere i didnt need to onboard! Anyone advise the easiest way to not accidently tick an incorrrect box on sign up, so i can start the process of transferring to another broker,and will the isa accounts appear after signing up with our normal trading accounts, or are the isa accounts , sent as separate logins? 
any help greatly appreciated, with this fiasco of a balls up by iti!!!

From my experience when I got my login email only my ISA showed up. After a few days my trading account was there, so for me I didn't receive or need another email to see that account. My wife and I have a joint account, we only received an email for that last Sunday after the update saying there an option to close an account or join ITI. We opted for closing, there was no on boarding, we had to provide our bank details, download a form, sign it, upload it then provide other security information, it was a pain! Sorry I don't know if all of your accounts will appear if you opt for closing , we just had one joint account. They say money withdrawal will be actioned immediately and assets on receipt of a request from another broker, not holding my breath on that one.

sweeter_strudel

Manted, I think we are at a similar position in terms of actually getting to a position where we could actually trade.....

I will be transferring everything away from ITI but as that process could take months I'm keen on getting to a point where I could sell some my holdings if market events make it attractive.

My transfer out request says "all these shares and cash" and dont be surprised if the list of shares is shorter and the cash balance higher by the time ITI actually respond to the request to move.