SVS Securities - shut down?

johnburman

NorthBryan complain to the FCA.  Then fill in transfer form with new chosen broker.  Then wait.  Complain to them and to ITI a few times.   Then the FCA again.  Then see what happens.   
Question to all.  Does the Phoenix account when set up actually work i.e. can you actually trade.  For the record, my 4 accounts are closed; still none transferred to new brokers; now received a correct contract note - and it is right; awaiting the second contract note never issued after a manual trade 4 weeks ago.
I do not understand why anybody would wish to stay with ITI?  I will not deal with any company who does not answer the phone or my emails. Period. 

My2penneth

user1168934 said:

NorthBryan said:

Sorry but no idea what to do here, I just want to move my shares away from ITI Capital and just moved to the Halifax Share platform or HL but ITIdon't respond to any emails, Support tickets raised in the ITI portal or pick up the phone to me. Any advise would be most welcome? Saved my money up for 3 years via company share save and for 14 months not had access to it. Its beyond a joke.

Just initiate a tranfer request from Halifax / or HL. They will then communicate with ITI to get your accounts transferred. I am not sure why you are sending ITI any emails - you don't need to if you want to transfer out completely.

to User1168934
Check that your new broker (Hargreaves Lansdowne (HL) or Halifax (HSDL)) will accept your shares first. No point in asking the shares to be transferred to the new broker and then finding out many weeks down the line that they don't support them.
You don;t say what the shares are (and we don't need to know). But it is worth a quick call to your new broker to save grief later. 

Nbs222

Blueshirt_Joe said:

After several weeks of hounding ITI, I've just started to make some progress on my ISA account transfer to Interactive Investor.
I've recently received a valuation from ITI and all looks in order, however Interactive Investor have now told me I cannot transfer in my RDS.B shares!

Apparently they are "unsupported" and are ineligible for transfer. I feel there must be some mistake.

Just wondering if anyone has experienced similar problems, or could offer an explanation? I've asked II to explain the problem but still waiting for an answer...

I believe they are

ROYAL DUTCH SHELL rght 06/22/2020 ( ) HW80 - ELECTRONIC ELECTION ENTL(B)

They are some sort  of election entitled and were created during the transfer from SVS to ITI. They don't have any value and should be removed, but how do you contact ITI to ask them to remove it .

Your normal RDSB shares should be also in your Qort or Phoenix account.

gibson81

Nbs222 said:

Blueshirt_Joe said:

After several weeks of hounding ITI, I've just started to make some progress on my ISA account transfer to Interactive Investor.
I've recently received a valuation from ITI and all looks in order, however Interactive Investor have now told me I cannot transfer in my RDS.B shares!

Apparently they are "unsupported" and are ineligible for transfer. I feel there must be some mistake.

Just wondering if anyone has experienced similar problems, or could offer an explanation? I've asked II to explain the problem but still waiting for an answer...

I believe they are

ROYAL DUTCH SHELL rght 06/22/2020 ( ) HW80 - ELECTRONIC ELECTION ENTL(B)

They are some sort  of election entitled and were created during the transfer from SVS to ITI. They don't have any value and should be removed, but how do you contact ITI to ask them remove it .

Same issue with me. iWeb would not accept these but they are zero value. I tried googling them but nothing came up. Thankfully, my regular RDSB shares went through okay.

Blueshirt_Joe

Nbs222 said:

Blueshirt_Joe said:

After several weeks of hounding ITI, I've just started to make some progress on my ISA account transfer to Interactive Investor.
I've recently received a valuation from ITI and all looks in order, however Interactive Investor have now told me I cannot transfer in my RDS.B shares!

Apparently they are "unsupported" and are ineligible for transfer. I feel there must be some mistake.

Just wondering if anyone has experienced similar problems, or could offer an explanation? I've asked II to explain the problem but still waiting for an answer...

I believe they are

ROYAL DUTCH SHELL rght 06/22/2020 ( ) HW80 - ELECTRONIC ELECTION ENTL(B)

They are some sort  of election entitled and were created during the transfer from SVS to ITI. They don't have any value and should be removed, but how do you contact ITI to ask them remove it .

Hi NBS, yes that's correct, do you hold the same? I thought it was something to do with the dividends rights.

These are the instruments in my holdings:

ROYAL DUTCH SHELL rght 06/22/2020 ( ) HW80

GB00BMWWHW80

ROYAL DUTCH SHELL SHS, Class B

GB00B03MM408

But both have been flagged as unsupported by II I'm afraid.

I'll ask ITI to exclude that first instrument then if it's just a worthless legacy from SVS

jenwrendorset

Today's conundrum !! Included in my SVS portfolio were BNN aim listed shares that are currently delisted but hopefully will be relisted before too long (dodgy Chief Executive & Chief Operating Officer - couldn't make this up, could you?).  From previous comments I believe ITI don't deal with Aim listed shares so presume this is why they are sitting alone in a Qort account whilst the rest of the shares moved to a Phoenix account (and still there after transfer form was sent 5 weeks ago).  I've now learnt that delisted Aim shares cannot remain in an ISA but I can live with that however because they are delisted iWeb is unable to accept them although they do deal with Aim listed shares.  Does anyone have any bright ideas where I go from here???  I feel another letter of complaint coming on.

n_aftab

hi,

Wanted to share some positive news.

I had 2 accounts with svs 
i asked hargreaves to transfer them both out, a trading account and a trading isa
the trading account has been transferred out, but nothing in the isa yet.
the valuation iti sent over was wrong, so i sent over the valuations i had from LC, if you need these you can email svs would will send you the last valuation (which is the stock and the number of shares) in your accounts. I am waiting to see if this changes things or if i will be left to chase corrections afterwards .. but 95% of my stocks have been moved.

Just would like to reiterate what others have already said, if you wish to transfer out, ask your new broker to help with the process, fill out whatever form and paperwork they ask to give them the authority to make the requests.
I have sent lots of email to iti and phone calls, i have had not a single meaningful response, or even a response to say they are dealing with my request, just default template apologies for the delay bla bla bla.
My main point is it will get done, just approach it from the new broker side.

I hope this gives people here some hope that there is light at the end of this dreadful situation.

sweeter_strudel

I too have received contact from II saying one of my holdings - a true SVS suggested AIM classic that de-listed it was such a disaster - which cannot be transferred over.

Gaad knows how to resolve a share I cannot sell...... ask for a paper certificate and then keep it by the loo roll in case lockdown 2 panic buying comes home to roost?

RasputinB

If shares are "stuck" with ITI Capital because your preferred broker won't take them wouldn't it be a good idea to ask Leonard Curtis what you can do?

My2penneth

Blueshirt_Joe said:

After several weeks of hounding ITI, I've just started to make some progress on my ISA account transfer to Interactive Investor.
I've recently received a valuation from ITI and all looks in order, however Interactive Investor have now told me I cannot transfer in my RDS.B shares!

Apparently they are "unsupported" and are ineligible for transfer. I feel there must be some mistake.

Just wondering if anyone has experienced similar problems, or could offer an explanation? I've asked II to explain the problem but still waiting for an answer...

Another ITI mistake.  I bet that you have 2 versions of RDSB, one in Phoenix and one held back in Qort... The ones that can't be accepted are the "electronic election entitlement" ones in Qort account.  ISIN GB00BMWWHW80.

"Proper" ordinary RDSB shares have ISIN GB00B03MM408.  Have a look in your Phoenix accounts . 

I have/ had the same issue ( iWeb wrote to say they couldn't accept them)

How they got into our accounts is a mystery.