SVS Securities - shut down?

My2penneth

johnburman said:

You are a hard man My2p.  I think that they are doing their best, albeit they are doing it ti batches.
Funny story: ITI say they are waiting for an email from iWeb: iWeb say they are waiting for an email from ITI!  I know who I believe

Thanks

( "hard but fair" in my opinion!)

Blueshirt_Joe

ITI have now transferred the cash over to my new broker, exactly one week after the shares were transferred.
So as others have already suggested, keeping the cash sum as part of your transfer, especially with an ISA, is a good option.

rnf11

Blueshirt_Joe said:

ITI have now transferred the cash over to my new broker, exactly one week after the shares were transferred.
So as others have already suggested, keeping the cash sum as part of your transfer, especially with an ISA, is a good option.

Good for you. That must be a record to get the cash only one week after the shares. I have now been waiting three weeks for the residual cash after the shares were transferred.

Could you disclose which is the super efficent broker that made this happen? Do you have any outstanding dividends still in the ITIC pipeline?

Blueshirt_Joe

rnf11 said:

Blueshirt_Joe said:

ITI have now transferred the cash over to my new broker, exactly one week after the shares were transferred.
So as others have already suggested, keeping the cash sum as part of your transfer, especially with an ISA, is a good option.

Good for you. That must be a record to get the cash only one week after the shares. I have now been waiting three weeks for the residual cash after the shares were transferred.

Could you disclose which is the super efficent broker that made this happen? Do you have any outstanding dividends still in the ITIC pipeline?

Yes I'm surprised the cash followed so quickly! Luckily my last dividend was RDSB, paid 21st September. 

My new broker is Interactive Investor, they have been very helpful but I have had to do a lot of chasing of both sides to progress things and some more chasing to correct mistakes by the brokers. 

I still have some CVR rights which weren't transferred however, so more work still to do! 

Emillion1

My2penneth said:

Anybody transferring to iWeb? I have raised a complaint against iWeb for not transferring my account in a timely manner. They are responsible for applying pressure on ITI capital and - if they receive lots of complaints - they will need to explain to the FCA and that explanation will involve a lack of response from ITI. In addition, if your complaint is upheld, there might even be a token compensation payment (although I'm not really interested in this). 

So, if you have been waiting a long time for transfers make a complaint against your broker for not getting the transfer sorted. 

How can iWeb transfer your account? They are the recipient! They can't do any more than you can to put pressure on ITI.  If I ran iWeb I would close your account

Michael_Reynolds

Some more good news. On Thu I gave Raul 48 hrs to credit my seven dividends paid to Crest on Sept 29th & 30th amount to GBP 800 to my cash accounts or a fraud  complaint would be lodged with the Police. Fri I got an one of his standard
"investigating" acknowledgement emails. Today I logged into my Quort cash account and low and behold the dividends are there! God what hard work it is too get them to do anything! I have thanked him and now asked for a progress update on my assets transfer to Swissquote. I got an immediate reply. I have also insisted that my securities and cash accounts be agreed and  move in a single transfer. 

My2penneth

Emillion1 said:

My2penneth said:

Anybody transferring to iWeb? I have raised a complaint against iWeb for not transferring my account in a timely manner. They are responsible for applying pressure on ITI capital and - if they receive lots of complaints - they will need to explain to the FCA and that explanation will involve a lack of response from ITI. In addition, if your complaint is upheld, there might even be a token compensation payment (although I'm not really interested in this). 

So, if you have been waiting a long time for transfers make a complaint against your broker for not getting the transfer sorted. 

How can iWeb transfer your account? They are the recipient! They can't do any more than you can to put pressure on ITI.  If I ran iWeb I would close your account

When I filled in the transfer request form it becomes their responsibility to liase with ITI ...they have 30 days normally. They have not been successful. I want them to turn up the pressure on ITI by getting them to complain to the FCA as well as us ( which is what Jarvis is reported to have done ).  
We know why iWeb are not succeeding but that is NOT our responsibility, just our problem!

On what grounds would you close my account....for raising a complaint....if you ran ITI my account would have been closed 20 times or more!

Thrugelmir

My2penneth said:

Emillion1 said:

My2penneth said:

Anybody transferring to iWeb? I have raised a complaint against iWeb for not transferring my account in a timely manner. They are responsible for applying pressure on ITI capital and - if they receive lots of complaints - they will need to explain to the FCA and that explanation will involve a lack of response from ITI. In addition, if your complaint is upheld, there might even be a token compensation payment (although I'm not really interested in this). 

So, if you have been waiting a long time for transfers make a complaint against your broker for not getting the transfer sorted. 

How can iWeb transfer your account? They are the recipient! They can't do any more than you can to put pressure on ITI.  If I ran iWeb I would close your account

On what grounds would you close my account....for raising a complaint....

Doesn't require any grounds. They are not obliged to do with conduct business with you. There'll be a clause in their term and conditions for them to close your account at their discretion, with most likely a month's notice. 

shiznit76

I understand your frustrations with Iweb M2P, i feel the same. See lots of people on here having their transfers completed by other brokers, especially HL by looks of it, but Iweb seem to be dragging their heels 

My2penneth

shiznit76 said:

I understand your frustrations with Iweb M2P, i feel the same. See lots of people on here having their transfers completed by other brokers, especially HL by looks of it, but Iweb seem to be dragging their heels 

Yes, and that's partially the reason for the complaint. I know where the real issue lies but I feel that iWeb could be doing more to facilitate the transfer.