SVS Securities - shut down?

bodrum99

The value of my investments is now very low. However, I was lucky to see the shares transferred over from SVS so I recently sold them all. It's been three days since I requested a cash withdrawal but no luck yet, although I did receive an automatic email reply. I hope this is going to be OK.

GeorgieC

Michael_Reynolds said:

It's my strong personal belief that ITI aren't in any danger of going bust. Oleg has plenty of money. THIS IS PURE & SIMPLE INCOMPTENCE. Hard to believe I know but it takes real talent to be this incompetent! Take a look at the Qort cash statement. I reconciled mine the other day and then hit Rahul (copied to my usual list) with it. It's mind boggling. The individual dividends don't add up to the top level balance! The individual dividend balances don't even line up. That's before one gets started on the duplicates and missing dividends which can well be included in the top level balance! It's abject chaos. They just haven't a clue what's going on.

I don't think its a case of Oleg baling the company out. It will be Da Vinci Capital and how long they want to keep writing out cheques or diverting money from other offices. As for hitting Rahul....there are probably a few Forumites who would join a queue!!

My2penneth

He will be out of a job soon....he is Head of UK Clients and he had upset them so much that they are leaving rubbish reports on Trustpilot, ITI's own website, this forum, The Lemon Fool forum (ex Motley Fools). Then there will be FOS complaints to answer.
Of course, in this day and age, with Uncle Google and LinkedIn his resume will not be very attractive.  

sweeter_strudel

Well here's a new twist on how ITI can get things wrong.
The second part of my ISA transfer has been completed by ITI Capital today.
Stop congratulating me - it has appeared at HL not iWeb.
I guess I'll just have to be thankful that I will now be trying to do a partial ISA transfer from HL to iWeb rather than ITI.
My trading account transfer is still going nowhere with ii reporting the 4th message ignored by ITI.

Michael_Reynolds

GeorgieC said:
I don't think its a case of Oleg baling the company out. It will be Da Vinci Capital and how long they want to keep writing out cheques or diverting money from other offices. As for hitting Rahul....there are probably a few Forumites who would join a queue!!

OLEG IS THE FOUNDER AND CHAIRMAN OF DA VINCI

GeorgieC

Michael_Reynolds said:

GeorgieC said:
I don't think its a case of Oleg baling the company out. It will be Da Vinci Capital and how long they want to keep writing out cheques or diverting money from other offices. As for hitting Rahul....there are probably a few Forumites who would join a queue!!

OLEG IS THE FOUNDER AND CHAIRMAN OF DA VINCI

Yes... along with Dennis Fulling who is also named at Companies House for ITI, but that doesnt mean Da Vinci will continue to bale ITI out

ABSVW

I'm getting ZERO responses to my mails or requests from HSBC to have the shares transferred.
That said, i did get a nice email asking if i;d like to do more business with ITI - erm, let me think about that for a second!!

Hi Abid,

I hope this finds you well.

 I’m dropping you a note to introduce myself. I work on the advisory side of the business and work with private clients by providing trade and investment ideas and holistic investment, and wealth management advice.

 We are one of the only Brokers in the City who can offer Direct Market Access trading alongside a fully integrated Wealth Management solution which can be tailored to meet a wide variety of client’s needs. I can help clients construct long term investment portfolios, plan for retirement, pass wealth to the next generation or trade across various asset classes with strategies created by our investment committee.

 If you would be interested in having a chat, then please let me know a suitable time and I will be in touch.

 Kind regards,

Adrian Russell

gibson81

Can anyone advise if it is worth submitting a complaint to our incoming brokers? Are they not responsible for ensuring the transfers are completed in a timely manner? I appreciate they may not be getting responses from ITI but surely they then need to escalate this to the regulator? Then we might get some movement.

shiznit76

I'd say our brokers hands are tied. They can only process the transfer if ITI pass on the details

Clairabella

Should I be concerned that, for several days, my shares have totally disappeared from my dashboard? My cash, which I’m still waiting for, has now magically doubled! 

ITI homepage “Take control of your investments”. Oh the irony!