SVS Securities - shut down?

shiznit76

Josl said:

Jamesram: The final response lays out all these points. In my case, final response failed to address prime concerns raised in my complaint i.e transfers except stating they are waiting to be transferred. ITI have not tried to rectify the complaint, only admitted its failures. 

Monsieur_Bourse: My final response states this, which means anything raised in my complaint has been addressed, if I wish to accept the measly £60 they have graciously offered, then complaint is considered resolved ELSE it can be forwarded to FOS.
In my opinion once you accept the offer, then FOS isnot going to be inclined to deal with an identical complaint.

"Should you wish to accept this offer, it will be in full and final settlement regarding the matters raised by you. We request that you respond to this offer within 14 days of the date of this letter. Upon receipt of your acceptance we will consider this matter closed and will arrange for the sum outlined above to be transferred to your preferred bank details within 7 days."

£60?? That's insulting. TSB gave me that for being couple days late sending me out a new pin number!

Josl

shiznit76 ITI have tens of thousands of my funds in tied up investments. They failed to give out a time frame for transfers or dealt with the transfers therefore I rejected their grand offer.

snipkin

pafpcg said:

snipkin said:

I have today received the cash amount from my ITI non-ISA account into my Jarvis XO account. However, I do not think this includes any dividends I have received recently as my ITI qort account does not seem to be up to date on my expected dividends. Oh well one small step at a time...

Jarvis credited your account on a Sunday?  [...]

Apologies. I had another look at my Jarvis XO account and the cash was actually credited on 16 October - I am due an eye operation in 2 weeks (which I hope will go ahead) and I thought it said '18' when I checked yesterday (on the 18th) - which surprised me as well! I really must be more careful.  I am still waiting  for the dividends to transfer. The cash amount transferred was the same as the cash amount quoted in  my ITI qort account.

Also I am still waiting for both the cash and dividends from ITI on my ISA account which I am moving to Hargreaves. All my share holdings have already transferred correctly from ITI to both my Jarvis and Hargreaves accounts.

My2penneth

Fill in the FOS complaint form. ITI will be hit with a £650 case fee. The compensation will be higher than £60. 
Besides, ITI have been messing us around...why let them off on the cheap? 

johnburman

I will give you our up to date position.  How does it compare to yours?

1   We now have Contract Notes 6 weeks after the transaction

2   X does *not* have the cash due on his ISA account now transferred to new broker 1 (but does have shares - yippee).

3   Y has all shares transferred to her new ISA account EXCEPT one, an ETF which has gone misising.  She does have the cash though.  Thought: is this still in her ITI account ...but that is closed and has been for 6 weeks

4  Y does *not* have the ETFs (except one which has transferred) *nor* any of the cash transferred to her trading account with new broker 2, but she does have the non-ETF shares.  

5  No statements for anything have been sent by ITI

The whole situation is, and continues to be, apalling.

sweeter_strudel

More non-progress and divi tales
No sign of two transfers out - the new brokers say they are getting zero comms from ITI Capital.
I did however get some cash moved to the new broker for the first chunk of my ISA transfer. Sadly it does not match anything I expect. It's less than the tally of missing divis......

Here's a wild conspiracy theory - short change every investor / account by something a bit shy of 50 quid and ITI can trouser the cash when half the folks have had enough by the time they get hold of their shares and the majority of their cash. Ker-ching?

Complete nonsense of course, perish the thought....

sweeter_strudel

Josl said:

shiznit76 ITI have tens of thousands of my funds in tied up investments. They failed to give out a time frame for transfers or dealt with the transfers therefore I rejected their grand offer.

"Grand" as in fine big and large
Or grand as in cash money grand?
;-)

Josl

sweeter_strudel 😋 take an intelligent guess...

or look at today’s posts. I leave it with you.

Jamesram

I note this am that there is now a cash sum equivalent to  my SLA dividend showing in my Qort account. Is this related to my court claim online I wonder - has anyone else with SLA received a divi in their Qort account please? The case, however, continues- my claim is for my divi  cash to be paid out to my bank  or iWeb account, not to feature as an unnamed item in an old ITI account.

RasputinB

I have been wondering why ITI Capital are so keen to get clients to agree to "Full and Final" settlements. I'd suggest that they know that they are in deeper trouble than they are letting on. I don't mean financial trouble, I mean regulatory trouble. Just a thought.