SVS Securities - shut down?

SteveJohnson56

My friend at ITI has gone all coy. I can only assume they must be under strict orders not to pay out any cash to clients.

Nbs222

Has any  managed to withdraw cash recently (from ITI)

SteveJohnson56

Well there's a coincidence, just had a scam call from 02080576022 with my email address and my name. The only people this could have come from  are SVS/ITI Capital as the number they have of mine has only ever been giving out to them.

Halty2

ABSVW said:

Apologies all - I just joined, I see that MF11 and a few others have said that you have managed to get your ordinary shares transferred away. 
It would be most helpful if you could list the process you went through to achieve this. I do have a HSBC trading account that i would love to get all my shares transferred over to. 
Any assistance much appreciated as so far its been very stressful and frustrating

I approached my chosen broker, Hargreaves Lansdown and they did the rest, in my case it was an ISA

RasputinB

Nbs222 said:

Has any  managed to withdraw cash recently (from ITI)

Yes. Following sales that I put through by phone (with minimal hassle!) I asked the dealer to help with the withdrawal to my bank as I had completed the documentation a couple of weeks earlier and had heard nothing. He asked me to email him the details and soon after I received an email from Abiola Omotayo and the cash withdrawal was made.

Nbs222

RasputinB : was the cash withdrawal in the the last 2 weeks

johnburman

Halty2. Has there actually been a transfer completed to HL from ITI or is it still ongoing? 

ibs1947

In the securities transfer form what goes in the box for certificate of incorporation date,and the reference documentation box? Tia

Halty2

johnburman said:

Halty2. Has there actually been a transfer completed to HL from ITI or is it still ongoing? 

Yes, the transfer is complete, it happened on Monday and the shares transferred are correct, its my own account. I still have a joint account that waiting to transfer, my wife and I have had an email about it from HL so something must be happening but I don't know how far it is progressing.

Jamesram

ibs1947 said:

Hi anyone willing to help I have just received my securities transfer order but it’s so complicated am unable to fill it in have tried my transfer broker an d no reply from Iti  I can give you my phone number any help would be very much appreciated...

Hi ibs1947 My earlier reply might help you:

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.

Reply

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

Ibs 1947- to get to the STO page you first get the Bank details page- if you don't want to give your details, you can just put 00000000 where the account no's should go (many people with ISAs don't want ITI to know their details in case cash is sent out of the "wrapper" and thus losing ISA tax benefits) So this will get you to the STO page

Note also that ITI do not NEED, nor are they strictly entitled to the info you request, but it is part of their system , which you can see is set up for in-house finance people, not private investors such as us.The info given by your new broker on your Transfer Instruction is all that should be required, and the financial protocol for ISAs expressly says that I believe. But ITI do not seem to be able to operate without this form, although they have promised to revise it. So I have just let them have it. The important info is YOUR NEW BROKER- YOUR ACCOUNT REFERENCES WITH THAT BROKER- YOUR SIGNATURE . The rest is bureaucracy frankly.

Likewise, the Security uploads- don't worry too much about this -ITI know perfectly well who you are. Upload a passport photo and then a utility bill or bank or credit card statement. I managed to upload 2 passport photo pages - one of me one of my partner- I could not change this error as the form does not allow this. But it was still accepted! So don't worry too much about the docs, I would suggest, just upload a passport or drivers licence scan, and then something that looks sensible by way of a bill.

Hope this helps a bit