SVS Securities - shut down?

shawdon

I have also now received confirmation from the FCA that they are formally investigating my complaint that ITI are using an unencrypted website to carry out our online dealings which is also against their code of conduct so I think we are nearing a serious intervention. If they fail to act now they will look very silly if further problems arise.

My2penneth

The FCA might step in and instruct ITI to fix their IT website...they will have a grace period to do this. Hopefully my accounts will be long since transferred by then....he says , unconvincingly!

When I log into Phoenix,  my account is secure.. ( I also see a padlock on the address line, if I click on it   I get this msg)

desertorchid123

shawdon said:

I have also now received confirmation from the FCA that they are formally investigating my complaint that ITI are using an unencrypted website to carry out our online dealings which is also against their code of conduct so I think we are nearing a serious intervention. If they fail to act now they will look very silly if further problems arise.

Well done and thanks. This will ultimately benefit us all.

rugby7170

My2penneth.
"The manual transfers " team" ( 5 people? ) probably have 5 or 6 solid weeks of effort to transfer accounts ( I did some fag packet calcs many pages ago). I expected mistakes if they are doing this transfer line by line for 35 hours per week. The SVS database was not compatible with ITI's. ITI apparently did not know this, thus they could not simply data load our accounts.  I heard that SVS were on an old industry standard database and were the only company using it."

ITI didn't check if the database was compatible ?? That is pure incompetence.
And if so they must have posted my info from SVS on to the Qort account line by line.  Are you saying they are now going to do it again on to the Phoenix platform ? Unbelievable !!!

My2penneth

Last Thursday I checked my 4 Phoenix accounts. I noticed that they were all missing shares.

Phoenix account #1
One account had only 16 "instruments" loaded whereas there were 27 in the on boarded account. Today I noticed that the count had increased from 16 to 18.

Phoenix account #2
In another PX account, no shares had been transferred across from the on boarding account by Close of business last week. I was expecting  10 instruments. Today, I can see 7 of the 10 have been transferred to PX.

Phoenix account #3
Added an extra instrument (22 out of 24 now present)

Phoenix account #4 
no change from last week.

It looks to me as though ITI are adding shares to our accounts by company rather than by account. So, today they might be adding say shares in Admiral, Astra-Zen, Barratt Dev  and tomorrow shares staring with the letter "c". 

(£4k in cash is still missing from my wife's ISA account that was there until they started the messing with Phoenix accounts last week)

moneytroll

I have got the Phoenix log in details but am unable to log in (website is stuck on the log in page). Anyone managed to log in?

Nbs222

we have 3 accounts.

All  Phoenix accounts within 3 have no stock , and only one have cash. The ISA cash on Qort are no longer there .

I am only looking at Phoenix account values from  iti login not Phoenix login, we haven't logged into Phoenix as the iti dashboard shows they are all empty.

moneytroll

I think ITI dashboard is useless and doesn't get updated. This is just to verify the assets from SVS. I understood the real account is the phoenix account

Nbs222

when you log into Phoenix accounts  can you update anything or is it read only .

rugby7170

moneytroll said:

I think ITI dashboard is useless and doesn't get updated. This is just to verify the assets from SVS. I understood the real account is the phoenix account

I sold some shares , 4 lots actually, and it was updated . About a week later !! Brilliant.