SVS Securities - shut down?

englishmas

Thanks for giv8ng me the information how to draw cash.
Has anyone  succesfull in  withdrawing the cash?
It will be grat if ITI make statement   to g8ve the updateand let us know what are the problem they are facing and how long will it take them to slove them. 

supersaverg

Everyone expects teething issues, when moving so many accounts, in a heavily regulated environment - but this is unpalatable.
Even base level communication to clients is terrible. This speaks volumes as there's really not too much technical about sending an email to your new customers.
Personally, my advice is get a new broker, and get them to transfer the assets for you. I'm with Hargreaves now - whom are now handling my transfer -  after this tragic SVS  / ITI shambles. 
Very reasonable fee's. EXCEPTIONAL web & mobile app. I only wish I had started with them.
Hang in there...I'm sure it will get sorted, but it's just part of the risk of investing in the stock market.

johnburman

but it's just part of the risk of investing in the stock market.

No it is not.  I expect my broker to accept my instructions and answer the 'phone when they do not. 

ITI do neither. 

pixaar123

they are on FB - hit them where it hurts. I just posted on it. I can't post links here but just search for ITI capital - they have around 8.7K followers. 

My2penneth

englishmas said:

Thanks for giv8ng me the information how to draw cash.
Has anyone  succesfull in  withdrawing the cash?
It will be grat if ITI make statement   to g8ve the updateand let us know what are the problem they are facing and how long will it take them to slove them. 

Yes, on 2 accounts. One for me and one for the wife's accounts. 

it took 5 days in total from submitting the form to the money landing in our accounts.
(see page 248 my post)

meuok

I made a cash withdrawal request on Monday, and it is showing up as pending transaction on my internet banking today (Tuesday)...

englishmas

I do not whats going on with ITi web site softwere .
I just checked my onboard account , my assests total value is just showing £94 , where the individual  holding value is currect which 8s in thousands, it seems the system canot add up.
Has anyone recently  checked their account.

Nbs222

englishmas said:

I do not whats going on with ITi web site softwere .
I just checked my onboard account , my assests total value is just showing £94 , where the individual  holding value is currect which 8s in thousands, it seems the system canot add up.
Has anyone recently  checked their account.

I had that some time back but it corrected itself.

If  individual stock qty and cash balance are  correct , the price of stock displayed  is not  that important.

It looks they have more than one  set of data  and often they are not in sync. e.g   one of my screen has letters missing in my name but other  screens have name spelt correctly.

olderbutnowiser

Dividends

I asked a few days ago regarding post 23 July dividends, if anyone has seen any added to their cash at ITI. At the time no one had and I was just wondering if anyone has been any recently added to the cash that LC transferred? I certainly haven't and can imagine that this will not go well, especially with all the transfers to alternative brokers.

masonic

johnburman said:

ITI Capital have not responded to Broker X for any transfer requests going back to 23 July.  How do I know - I spoke to Broker X this morning and they told me! 
ITI Capital did not pick up their phone on their support line 40 mins ago when I tried to call them.

If ITI are not answering their phones, and you are using the same phone number that they use to accept complaints, then the Financial Ombudsman Service can intervene if you are struggling to make a complaint. If you are so inclined to phone the FOS. Though their powers at that stage are merely to get the firm to make contact with you to discuss your complaint.