SVS Securities - shut down?

jenwrendorset

shiznit76 said:

is that 1 person on ITI team or IWeb? I have been told by Iweb they have received my valuation, but can't tie ITI down to a settlement date. Mad how banks can do current account transfers in 7 days including all direct debits but ITI can't pass valuation and settlement date on in 4 months

iWeb informed that the ITI transfer team consisted of just one person but whether that's true or not I don't know but contemplating another letter to DM to query this, amongst other things.

johnburman

Most shares at long last transferred for our accounts, but not all cash and one share purchase has *not* been transferred.  Wonder where they are in ITI's offices?  Hiding in the toilet?  PS we have the contract notes for the manual share transactions done - they only took 6 weeks after the transactino and about 10 reminders.

Why would anyone wish to remain wiht ITI - please give me one reason?

Sheris

RobHun said:

After my initial joy at HL at last making contact with someone at ITI everything seems to be back to square one with ITI ignoring all e-mails from myself and HL.  I've decided  (somewhat belatedly) to register a complaint with the Financial Ombudsman. I realize that this could take up to eight weeks as seemingly all my e-mails complaining to ITI don't count as they were not "official". As most of my contact with ITI has been with Account Management I was wondering if someone could give me the contact details of a real person in authority and any information  that might help me steer my way through this. 

Surley a complaint is a complaint to what ever e-mails and must be offical.

shiznit76

Sheris said:

RobHun said:

After my initial joy at HL at last making contact with someone at ITI everything seems to be back to square one with ITI ignoring all e-mails from myself and HL.  I've decided  (somewhat belatedly) to register a complaint with the Financial Ombudsman. I realize that this could take up to eight weeks as seemingly all my e-mails complaining to ITI don't count as they were not "official". As most of my contact with ITI has been with Account Management I was wondering if someone could give me the contact details of a real person in authority and any information  that might help me steer my way through this. 

Surley a complaint is a complaint to what ever e-mails and must be offical.

it's ITI you're talking about here

My2penneth

Sheris said:

RobHun said:

After my initial joy at HL at last making contact with someone at ITI everything seems to be back to square one with ITI ignoring all e-mails from myself and HL.  I've decided  (somewhat belatedly) to register a complaint with the Financial Ombudsman. I realize that this could take up to eight weeks as seemingly all my e-mails complaining to ITI don't count as they were not "official". As most of my contact with ITI has been with Account Management I was wondering if someone could give me the contact details of a real person in authority and any information  that might help me steer my way through this. 

Surley a complaint is a complaint to what ever e-mails and must be offical.

A complaint can be a verbal or written. It's easier to prove if it is written. emails to ITI are evidence. Who is saying that your emails don't count? I would simply let the Financial Ombudsman decide - no point in arguing with ITI. Hit them where it hurts with a £650 case fee and possible compensation on top. Stop messing about with this dreadful company and shilly shallying - they are a useless company that needs to be made to buck up or do something else! 

eskbanker

shiznit76 said:

Sheris said:

RobHun said:

After my initial joy at HL at last making contact with someone at ITI everything seems to be back to square one with ITI ignoring all e-mails from myself and HL.  I've decided  (somewhat belatedly) to register a complaint with the Financial Ombudsman. I realize that this could take up to eight weeks as seemingly all my e-mails complaining to ITI don't count as they were not "official". As most of my contact with ITI has been with Account Management I was wondering if someone could give me the contact details of a real person in authority and any information  that might help me steer my way through this. 

Surley a complaint is a complaint to what ever e-mails and must be offical.

it's ITI you're talking about here

To be fair, all financial institutions are required to comply with the FCA regulations in this area, which include in the definition of an 'official' complaint that it "alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience", so all such firms will differentiate between specific formal complaints and generic contact expressing unhappiness or asking questions.  Anyone wishing to make a formal complaint needs to ensure that it's clear that this is what they seek to do, and abide by any directions in the firm's published complaints procedure - best thing is to insist on being provided with a unique complaint reference number, to allow tracking....

Sheris

eskbanker
ITI do not have a complaints procedure, I have made two complaints via e-mail and not had a reply, one was six weeks ago and the other two weeks later.
ITI do not care a dam and this is in a shocking state of total disorder for ex SVS clients.   

eskbanker

Sheris said:

eskbanker
ITI do not have a complaints procedure, I have made two complaints via e-mail and not had a reply, one was six weeks ago and the other two weeks later.
ITI do not care a dam and this is in a shocking state of total disorder for ex SVS clients.   

https://iticapital.com/assets/pdf/Complaints-Procedure.pdf is the first result when Googling for 'ITI complaints procedure' but is admittedly light on detail, claiming to be a summary but without any obvious link to the full version!  And for the avoidance of doubt, I'm not trying to defend them here, just highlighting the importance of jumping through the right hoops rather than giving them any excuse to ignore legitimate complaints, i.e. don't just assume that any negative contact will be treated as a formal complaint....

Jamesram

Sheris I am sorry but ITI do have a Complaints Procedure "If you are displeased with the level of service you are receiving from ITI and you wish to raise your concerns then in the first instance please contact our compliance department at compliance@iticapital.com who will communicate directly with you regarding the issues that you have raised as part of your complaint. Further details of ITI’s Complaints Procedure can be found at https://iticapital.com/assets/pdf/Complaints-Procedure.pdf"

Whether they follow it or not is another matter of course, but I agree with eskbanker's comments and not to risk giving ITI the excuse of being able to claim that their procedure was not followed by the complainant.

In particular I agree that the FCA rules appear to require the complainant to make clear that s/he "has suffered (or may suffer) financial loss, material distress or material inconvenience",  as opposed to for instance, mere irritation. Not a difficult hurdle for clients of ITI though.

But referring to your timescale- if you have not had any response in 8 weeks from the date of each complaint being made, then you are of course entitled to complain to the FOS.

EDIT- just read eskbanker's 5.16 pm post, which I have rather repeated-apologies. Interesting point about "summary" of a complaints procedure which is set out in full where? Just another ITI mystery.

Sheris

Many thanks for your advice, eskbanker and Jamesram, last complaint to ITI 13th Oct, many emails before going back to early August, with no replys, still unable to my ISA account or any monies when I login.
Maybe wrong but I was given very good advice to wait a see the final outcome, as that would be much stronger in court.