SVS Securities - shut down?

rebea

For some reason, I know not why, as of this morning I have now been sent login details for two separate Phoenix accounts..Of course neither of which have been loaded up with my stocks.
I fear chaos continues..... 

My2penneth

My2penneth said:

Just logged on to my ITI account.  Numbers have changed yet again! How the hell do these guys have approval from the FCA...their accounts are random nunber generators.  I'm going to take a snapshot of the screen as evidence.

Another call to the FCA tomorrow,. 

Just logged on again....and the account balances have changed on both mine and the wife's accounts. 

ITI are still balancing a negative and a positive shareholding. Have they not realised that the net effect is zero? If you have +100 shares in X and then add -100 shares in X, net value is zero.


There was over £4k cash in one account....gone!

(FCA contacted again - after the call I thought... was it worth it?)

johnburman

UPDATE ON MY 7.46 to-days post:

I HAVE JUST RECEIVED A CONTRACT NOTE FROM ITI

AND IT IS WRONG!

SEE below message sent to ITI:

===================

Tnx

Sadly the price is wrong for the deal!!

It is not £11 odd but £18 odd

Please correct and resend

  ISIN IE00B4X9L533 Quantity (units) 326 Price per unit GBP 11.8424 Gross Consideration GBP 5947.02 Commission GBP 7.95 Net Consideration GBP 5939.07 Settlement Basis DVP   

I have never known this sort of thing to happen before.
=========
I have reported this to ITI and the FCA.
So message to everybody - take care when using the dealing desk.  Keep an independent record of transactions.

Nbs222

I don't know whether ITIC worked during the bank holiday weekend , but if they did , they certainly didn't correct anything , everything is still in  a mess , wrong.

ISA cash doesn't show in two accounts , in the third  PX account account has the ISA cash and duplicated. Stock holdings  makes no sense . Is  their IT team using this as a training exercise. It's trial & error.

My2penneth

Nbs222 said:

I don't know whether ITIC worked during the bank holiday weekend , but if they did , they certainly didn't correct anything , everything is still in  a mess , wrong.

ISA cash doesn't show in two accounts , in the third  PX account account has the ISA cash and duplicated. Stock holdings  makes no sense . Is  their IT team using this as a training exercise. It's trial & error.

I'm seeing similar - duplicate account numbers (cash balance doubled as counted twice..but still incorrect), negative and positive counterbalancing share quantities, missing funds.  

manted

If folks have not read it already - some interesting points with regards to selection of ITI - 
https://www.leonardcurtis.co.uk/wp-content/uploads/2020/08/Joint-Special-Administrators-Second-Progress-Report.pdf

johnburman

I'm seeing similar - duplicate account numbers (cash balance doubled as counted twice..but still incorrect), negative and positive counterbalancing share quantities, missing funds.  
So am I.  But this is ITI...is this really "news".  I just thought it was their usual way of doing business /cheering us up suggesting we are twice as wealthy as we realy are!  Not that we can get access to funds/cash.

OAP1952

My2penneth said:

ITI staff in work over the Bank Hols ?

Yes, I can confirm that there was at least one of the account management team working on Sunday 30th - I received a personalized reply to one of my emails at 20:20.

olderbutnowiser

I've just received an email headed "Daily Activity Statement" that reads as follows:

"Dear Client,
Your Daily Activity Statement and Official Trade Confirmation for August 31, 2020 are now available for account U******5.
ITI CAPITAL Limited"

I don't have an account starting with a U and ending in 5 and haven't traded with ITI. Also there is no way I can see to accessing anything resembling an "Activity Statement", daily or otherwise. Transaction History and Cash Statements are all blank. The fiasco continues!

My2penneth

olderbutnowiser said:

I've just received an email headed "Daily Activity Statement" that reads as follows:

"Dear Client,
Your Daily Activity Statement and Official Trade Confirmation for August 31, 2020 are now available for account U******5.
ITI CAPITAL Limited"

I don't have an account starting with a U and ending in 5 and haven't traded with ITI. Also there is no way I can see to accessing anything resembling an "Activity Statement", daily or otherwise. Transaction History and Cash Statements are all blank. The fiasco continues!

yes you do....(have an account numbered U......5).  You just haven't noticed! You will see this in the Phoenix accounts.
here's a screenshot of oneof my accounts with a few numbers redacted! 



So.....you have an
SC number
iti login and password
ititi login and password
an U number account code
a Phoenix account (PX) and password 
That's for each of your accounts........confused?....why be any different to us!

From what I've gleaned...
In Phoenix you can set up reports that pull info down from the database. You can make up your own custom reports and run them and you can set the reports to run monthly or daily.
You might have received one of the default reports/statements.

(I should add, my Phoenix accounts are totally incorrect in terms of holdings and cash but I can play around in the account).