SVS Securities - shut down?

Sheris

Nbs222 said:

It looks they are sending the same email to every one who has requested transfers. I hope now  they concentrate on transfers.

Same email, waiting for the next excuse.  

tluv24

Yes, it’s a start as you said Nbs222, I can no longer wait for this onboarding process to finish its now September way too long now time to jump ship. I saw that transfers can take up to 7 weeks or more that all depends on how good ITI Capital is at responding.

rnf11

So ITIC have just sent out an email re transfers ( I've just seen mine).  I almost burst out laughing.

Note it states "account" singular not plural, and as already pointed out, there is no mention of cash, or ISAs.

The question is does this mean that ITIC are now actually getting on with it or rather are just sending "holding" emails to everyone concerned.

I reiterate, that as of yesterday ITIC had totally blanked all the other brokers trying to get accounts transferred to them.

Keep the pressure up.

PS I wonder what the nature of the threat was that succeeded in actioning the sole succesful transfer so far......

jamiex

I think it's positive that they're not sending out a completely generic e-mail - they've named the broker you're transferring to, which means they have at least acknowledged that they've received the request and they must have linked it to your account in some way. It's also likely a 'holding' e-mail of sorts, while they figure out how to deal with such a large volume of transfers. Maybe they always planned to deal with them in bulk?
As always, a little communication from them would have gone a long way towards reassuring everyone that they're actioning all of the requests.

Jools2001

Neither myself or my wife, have received the generic e mail for transfers out!

Has everyone who got one,got as far as iti,confirming closure of your accounts, 
as ive been waiting for this since August 10th!

Not sure just to send a transfer request before they confirm closure,to my new isa transfer provider,
or is this a waste of time, until these numpties at iti,actually CONFIRM our account closures?

Any info greately appreciated, as im at my wits end with these idiots!!

My2penneth

Same email received but for the transfer of my  wife's account ( singular) to Interactive investor. 
Nothing received on my account transfer to iWeb. 

As for 24 hours....anyone here believe that this will  be achieved.?
( rhetorical question! )

sweeter_strudel

I got my generic email from ITI for a transfer to ii that they sent senton my behalf on 12th Aug. No email regarding my other (partial) transfer to HL from 19h Aug.

I too laughed, reading ITI implying they were waiting for the new broker to do something - and promising a response within 24hrs. 

I anticipate another month before any real action...... They've probably sent thousands of generic emails out tonight......and won't be able to actually process all the requests to transfer out.

shawdon

I have not received any emails from ITI about my share transfers to HL, nor any reply from David Moss to my numerous emails!
Better news from MarkBentley at ShareSoc who is working hard on our behalf. He is pressing the FCA hard for a more detailed response to our issues with ITI and he has a video call set up in the next few days with top managers at DA Vinci who are the parent company owning ITI. All updates will be posted on the ShareSoc SVS forum set up for us. I will also report key updates on this forum as well.

Watford1984

The only one of my clients who has actually transferred to me (because he went mental at them constantly) ... to get to the Transfer stage took weeks, however the actual transfer itself was sorted in 48-72 hours, Jarvis and ITI confirmed the holdings, trade and settlement dates and then it was done. Why that can be done in 2-3 days and yet the transfer process takes 6 weeks to get to that stage however is beyond me 

johnburman

Have received 1 email to transfer 1 of my accounts to iWEB. It looks like they are at least transferring 1 account (hopefully and seeing us believing) and delaying others which they will do later at their leisure. The idea that they are placing the onus on the new broker is rediculous. But on paper this looks a positive move.