SVS Securities - shut down?

My2penneth

Being an ISA......no  tax to declare. Maybe that's why no statement.  I had my statement from LC at least a week ago but it was only for the non ISA account. 

Halty2

I am like many others very frustrated by this ongoing situation. I do not understand why ITI were selected when clearly they neither had the staff or technology to take on SVS customers. LC  selected them and for that reason I have leff a review of LC on Trustpilot. Like others I have not had all of my assets returned to me and any attempt to contact has gone unanswered

Danie6

My2penneth said:

Looking at the website I reckon that the 5 star reviews are suspect! If ITI Capital want to go down that route, they will have several hundred forum posters "creating reviews" .....THEY SHOULD SPEND THEIR TIME SORTING OUT THIS MESS AND NOT POSTING FAKE REVIEWS!!!

It's called "propaganda". Quite a well known aspect of life in Russia.

johnburman

The mystery is why the FCA agreed to ITI. They were doubling their client base with almost no extra staff. I was told in July they had only 5 extra staff. This has been increased but even so they simply cannot cope. What is so weird is that their fees are not attractive for XO clients who were bound to want to transfer out anyway. And did they have the staff to action this anyway? And now they ignore us. The FCA ignore us. The FOS are too slow. And the LSE appear to ignore us. BUT we must still keep up the pressure. 

shiznit76

is there and email for ITI accounts management team?

rebea

So yesterday I finally had a reply from the FCA, this is 15 days since my first email to them and 4 emails later.
Most of the response was the usual platitudes that so many of us have received from all concerned with this fiasco, but a couple of interesting ideas tacked on at the end.
The first one being 
((How to complain about Leonard Curtis

If you want to make a complaint about Leonard Curtis, you can follow this link to the gov.uk web page with information on making a complaint to the Insolvency Service for cases being handled by an insolvency practitioner you’re not happy with. ))
And the second being
((If you think fraud is involved

If you’re concerned that fraud could be involved, you may want to report this to ActionFraud, the UK’s National Fraud and Cyber Crime Reporting Centre. ))

So what the hell I'm going to register complaints with both of the above.

My2penneth

shiznit76 said:

is there and email for ITI accounts management team?

accountmanagement@iticapital.com    

My2penneth

ITI Capital are regulated by the FCA and are thus 100% genuine..there is NO DOUBT about it. Thoughts of them being a scam company and simply incorrect and pointless in even raising.

Now if you were to ask me if ITI Capital were up to their necks in doo-do (and not worried about the alligators), then I would agree. I think they bid for the work and didn't really expect to get it. But as other interested parties dropped out, they were the last man standing.  They (ITI) underestimated the work load required to on board accounts.

shiznit76

Agree with My2penneth, i just think ITI have underestimated the work this transfer would take and are seriously lacking in their IT department, I think things will work out....eventually. Hopefully my broker transfer will be through before then though

rnf11

I had a lengthy chat with an IWeb rep yesterday evening. A month has now elapsed since the transfer request for two accounts went in to them. They promptly sent the necessary on to ITIC and have since not once, but twice, tried to chase up ITIC. To date there has still been no response at all. He indicated that ITIC had disconnected the means of communication.

On my asking whether there had actually been any transfers at all received from ITIC, he stated that there had not been any.

Later this morning I intend to contact the other brokers with whom I do business, and seek to ascertain whether IWeb's experience is universal. The responses will determine my next steps.