SVS Securities - shut down?

My2penneth

I bought some shares today by phoning the broker line  (status on my ISA - on boarded account but Phoenix pending).
I asked if I would see these new purchase transactions when Phoenix is fully operational (date of purchase,  what was bought, what price, TAX for Mr HMRC + £7.95).. 
The broker said "no"... I find that gobsmacking.....I wonder if he is "confused"? Is he telling me that there is no traceability of share purchases?  Unbelievable! 

As for cash balances and asset values ....they are all awry! 
I'd say it's getting beyond a joke but that phase passed a long time ago. 

I have received some dividends ( not VOD , still waiting)....VOD dividends were in my iWeb account on the pay day.  I have no way of verifying what has been received from the info available from ITI.

My2penneth

Anyone located the W8-BEN form?

My2penneth

I withdrew cash ...there is no record of this in my account " cash statement ".  The money was withdrawn ok and arrived in my bank....I can't see any record of this. 
Once again, words of explanation from ITI might help!

If there is a competition for company with the worst customer service,  I know where I will  be casting my vote! 

My2penneth

Interesting..on one of my accounts, I am now seeing a negative cash balance - shown in RED.  No way of knowing why?
It shouldn't be negative. I have been recording cash balances at the end of the day.....

manted

My2penneth said:

I bought some shares today by phoning the broker line  (status on my ISA - on boarded account but Phoenix pending).
I asked if I would see these new purchase transactions when Phoenix is fully operational (date of purchase,  what was bought, what price, TAX for Mr HMRC + £7.95).. 
The broker said "no"... I find that gobsmacking.....I wonder if he is "confused"? Is he telling me that there is no traceability of share purchases?  Unbelievable! 

As for cash balances and asset values ....they are all awry! 
I'd say it's getting beyond a joke but that phase passed a long time ago. 

I have received some dividends ( not VOD , still waiting)....VOD dividends were in my iWeb account on the pay day.  I have no way of verifying what has been received from the info available from ITI.

do you know if are they quoting the SVS phone a broker rate - 20£ if i remember correctly for this transaction ?
or are they acknowledging the systems issue and charging us the £7.99 fee for phone trades until Phoenix is operational

My2penneth

I had it in writing by  email at £7.95. 

When placing the order, I asked what were the charges, which the broker quoted back to me at 0.5% duty plus £7.95 dealing cost.

sweeter_strudel

Manted, I know they will charge £7.99 to deal if the share/holding isn't listed (I.e. tradeable) on Phoenix. I entered all the tickers from my holdings into my  first approved (but not linked to holdings) Phoenix account and got prices quoted for them all. I hold a lot of AIM shares.....

manted

sweeter_strudel said:

Manted, I know they will charge £7.99 to deal if the share/holding isn't listed (I.e. tradeable) on Phoenix. I entered all the tickers from my holdings into my  first approved (but not linked to holdings) Phoenix account and got prices quoted for them all. I hold a lot of AIM shares.....

So, are you saying you've been able to sell your shares by phone as they aren't listed on Phoenix ? If for e.g. you wanted to sell other shares you hold, you could simply Sell based on ticker and it would know that you are not selling short, but actually reducing the number you own ?
Sorry for the multiple questions. Just excited that we would be able to trade now, albeit not in a very transparent manner.

My2penneth

Wednesday 12th August... both my and my wife's Phoenix accounts are STILL pending. 
 

sweeter_strudel

manted said:

sweeter_strudel said:

Manted, I know they will charge £7.99 to deal if the share/holding isn't listed (I.e. tradeable) on Phoenix. I entered all the tickers from my holdings into my  first approved (but not linked to holdings) Phoenix account and got prices quoted for them all. I hold a lot of AIM shares.....

So, are you saying you've been able to sell your shares by phone as they aren't listed on Phoenix ? If for e.g. you wanted to sell other shares you hold, you could simply Sell based on ticker and it would know that you are not selling short, but actually reducing the number you own ?
Sorry for the multiple questions. Just excited that we would be able to trade now, albeit not in a very transparent manner.

I haven't phoned up to sell anything, but I do believe My2penneth has.... Perhaps he/she can clarify?
I checked to see if all my exotic AIM shares could be traded on Phoenix once it  is up and running - the answer being "Yes", all tickers recognised.
Was hoping to phone up and set a few limit orders via the telephone dealing if Phoenix remains " Pending" and electronic trading a distant dream...if the trading desk permits this in the circumstances.