SVS Securities - shut down?

My2penneth

Jamesram said:

leonde said:

To anyone who has filled in the transfer form: what boxes do I actually need to fill in? (I've blanked all the boxes relating to my bank account as I don't want to withdraw cash). Thanks.

The fact is it should be unnecessary- my own  transfers have been actioned without my completing it at all- just by my making a lot of "noise". Further, it is obviously  a form designed for in-house financial people, not for individual clients.  ITI are just using their "due process", which as we all know does not fit individual investors well in any area. ITI have said to me and others they are "going to" change it. Their particular road to hell is of course paved with all sorts of stated good intentions.

The fact is, it IS unnecessary. 
ITI Capital should be in receipt of transfer instructions from the new broker. That is ALL they should need,  

gibson81

Jamesram said:

leonde said:

To anyone who has filled in the transfer form: what boxes do I actually need to fill in? (I've blanked all the boxes relating to my bank account as I don't want to withdraw cash). Thanks.

Leonde, this is the Securities Transfer Order page right? I am looking at a print off of the Form I used for my partner to tr. to iWeb:

Client name and a/c boxes are pre-filled I believe. If you can ADD all ITI accounts ( SC and PX) to the Account box I would do so. Type of Transaction should have Transfer to the Account marked "Yes" already- if not, enter that. "To be delivered" from and to  boxes  are left blank.

Name of Counterparty I entered "iWeb ac [myname- my iWeb client reference no- the iWeb ac code where shares are to transfer]"

Name of nominee Holder of the Counterparty - I just put iWeb.

Certification of Incorporation date I just put "no idea" ( maybe leave blank, or if really keen try and look it up at Companies House!)

Reference documentation - I put see Transfer Request provided by iWeb (give iWeb transfer ref no. if you have it.)

Authorised Rep = You

I have had my partner's version of this form completed as above confirmed as accepted by Mohammet in ITI accounts.

The fact is it should be unnecessary- my own  transfers have been actioned without my completing it at all- just by my making a lot of "noise". Further, it is obviously  a form designed for in-house financial people, not for individual clients.  ITI are just using their "due process", which as we all know does not fit individual investors well in any area. ITI have said to me and others they are "going to" change it. Their particular road to hell is of course paved with all sorts of stated good intentions.

I now have 3 out of my 10 stocks showing on my iWeb nominee account- hoping that the other 7 will see fit to join them shortly. I am almost past caring frankly.

I just saw your post and logged into my iWeb ISA account - five out of six of my shares have been transferred!! This is after I received an email from ITI on 17th September to say the account had been closed and transfer was processing. That makes it about four working days. Great relief!!

johnburman

Lucky fellow. Nothing happening with my transfers

rnf11

Ladies and Gentlemen.

On this day, my ex-SVS Ordinary and ISA stocks have - in good order - all been transferred and duly arrived safely in the haven of the new broker this morning.

Just the residual cash - including a dividend payable today - still awaited.

LEAR1

rnf11 said:

Ladies and Gentlemen.

On this day, my ex-SVS Ordinary and ISA stocks have - in good order - all been transferred and duly arrived safely in the haven of the new broker this morning.

Just the residual cash - including a dividend payable today - still awaited.

Great news for you, rnf11. Congratulations. Hopefully now the rest of us will start to see similar movement in the coming days.
Can I ask - who have you transferred to?
Thanks

johnburman

Well things are happening.... I'm still stuck in the system 

rnf11

LEAR1 said:

rnf11 said:

Ladies and Gentlemen.

On this day, my ex-SVS Ordinary and ISA stocks have - in good order - all been transferred and duly arrived safely in the haven of the new broker this morning.

Just the residual cash - including a dividend payable today - still awaited.

Great news for you, rnf11. Congratulations. Hopefully now the rest of us will start to see similar movement in the coming days.
Can I ask - who have you transferred to?
Thanks

IWeb.

Meanwhile back at the ranch - the ITI status is still showing one of the two accounts as "processing", and on which after they'd recently asked for repeat closure info, they'd just restored the previously deleted holdings, and cash info.....

Jamesram

This AM posted "I now have 3 out of my 10 stocks showing on my iWeb nominee account- hoping that the other 7 will see fit to join them shortly. I am almost past caring frankly.

Needless to say, this PM, all the 7 outstanding stocks showed up in my iWeb account, so subject to checking divis., I am all sorted.

Hoo- bloody -ray.

That does not mean I will be disappearing - I hope we shall see some solidarity here over the coming weeks, until ALL exSVS investors who want OUT have got out AND we are a bit more clearly organised as to how we claim against ITI Capital.

Mass FS Ombudsman  claims seems favourite in terms of Compensation. Other people seem to want to go for LC, even if comp. is not available in the Insolvency Service Complaints system. We could actually benefit from a full Inquiry of some sort, but I have no idea where to start with that. Maybe Sharesoc will be the best organisation to form an umbrella- its £45 for full membership, but money well spent if it helps us in this.

Still got my partner and ex-wife in ITI limbo anyway, so the fight goes on for them. Bye for now.

manted

here's my summary - based on reading posts on this forum regularly - 
AJ Bell - 1 successful outcome posted
HL - Multiple people reported successful outcomes
iWeb - Multiple people reported successful outcomes
Interative Brokers (USA) - 1 successful outcome posted. Basically as Phoenix is their platform, transfer is simpler.
Interactive Investors  - No Success yet
HSBC - No Success yet
IG - 1 partially successful outcome posted ?
Any others that I'm missing ? or any inaccurate data ?

johnburman

What is the magic?  I wanted to transfer and applicatiions were sent in late July, and I am in limbo.  And all my ITI accounts have ben closed for 3 weeks.