SVS Securities - shut down?

shiznit76

just got my email today after nearly 4 weeks, the post on previous page looks like it is a standard one sent out to those who are wanting to transfer out, no timescale attached, but it's a start

shiznit76

Nbs222 said:

Just received email from ITI regarding my transfer, it doesn't make any reference to cash

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We have received an instruction from Halifax Group (inc iWeb) to transfer your account to their management.

We expect the following steps to be taken
 

• Halifax Group (inc iWeb) agrees the position to be transferred for your account and relays confirmation back to ITI Capital
• ITI Capital and Halifax Group (inc iWeb) agree transfer dates
• ITI Capital deliver shares Halifax Group (inc iWeb)

 
The timescale for this is dictated initially by the response time from Halifax Group (inc iWeb). We will respond to all requests or agreements with Halifax Group (inc iWeb) within 24 hours.

strange that ITI look to be almost blaming Iweb for any delays and that the ball is in their court? Certainly not been a 24 hour response time so far

Nbs222

What are IWEB suppose to do , they have already sent a requests for the list of share holdings (positions) to be transferred and they are waiting for ITI to reply,

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.