SVS Securities - shut down?

olderbutnowiser

@shawdon

Still waiting for VOD to show up. My understanding is that brokers have to apportion the divis between all their clients so with a popular share like VOD and ITI being bogged down, I can see this taking some time.

My2penneth

Nbs222 said:

my2 penneth wrote

bought shares with funds in a third account.

The shares you bought are they appearing in your SCnnnnn account , and are they showing as transactions

No and No.
I currently have no visibility of the shares , when bought, how much etc or even if I own them. I bought them via the dealer.
I asked - "will I have visibility of the details" - he replied "no". I cannot help but think he misunderstood (let's be generous..) but if there is no traceability then HMRC will want to get involved (where's the tax)- that will be a big problem for ITI Capital.

When I eventually get access to Phoenix, I will expect to see full traceabilty on all buys /sells and dividends. If ITI Capital are not doing this then the FCA will definitely get involved ( i just hope my funds have been transferred before).
 

Nbs222

Thanks my2penneth

I was hoping to sell some from my SCnnnnn account but if there is no visibility then it's going to cause confusion.

englishmas

Hi 
I have told my ITI account manager that for trading my shares the fee will £27.23.
I thought we will be paying the same rate as SVS  for the three months. 
As any one traded and what they charge d you?

Sheris

johnburman said:

Excellent letter of complaint 

Very well statement of truth, well done to you.

My2penneth

englishmas said:

Hi 
I have told my ITI account manager that for trading my shares the fee will £27.23.
I thought we will be paying the same rate as SVS  for the three months. 
As any one traded and what they charge d you?

£7.95 

I bought shares this week and there was no problem/ no argument about the fee ( £7.95  plus the standard 0.5% tax).

Someone here almost got charged £20 + £7.95 but tgey told the broker that the fee should only be £7.95 . They were also only charged £7.95

9406824

If dealing line tries to charge £20 plus £7.95 dispute this charge and they will do it for £7.95 plus stamp.

simp888

ITI rate card says that they charge an ISA management fee of minimum £7.50 per quarter. So if staying with ITI I presume SVS customers will be charged this as well.  

Brynismydog

When SVS was stopped from trading, I was left with 2 trades that were not settled. It was suggested by LC that when account was unfrozen to use new broker. Judging by whats going on now have little confidence.  I did approach Barclays who I have an account with but got nowhere and also called some stockbrokers but again did not get any where due to fees etc.
Must be other people in same position ? Any advise please ?

masonic

simp888 said:

ITI rate card says that they charge an ISA management fee of minimum £7.50 per quarter. So if staying with ITI I presume SVS customers will be charged this as well.  

Not during the period they have agreed to match the SVS fee structure, but after that period has expired, yes you'd be moved onto their rate card pricing.