SVS Securities - shut down?

shiznit76

Just checked my bank account, my cash has been transferred also! Now just waiting for shares to get to Iweb, not holding breath. Bizarrely, the cash is still showing in my dashboard

My2penneth

Another half an hour of my life wasted on the phone to iWeb (who seem to be very busy - (20 mins wait). Still no valuation from Das Crapital.

One snippet - iWeb reported that ITI now have only 1 person dealing with transfers out. 

shiznit76

how hard can it be though for even one person to send valuations etc By now a fair chunk of us who wanted out should be out

Nbs222

I got my cash today in my bank account as well. That's a bit of relief.

But have not received any response to my transfer emails.

TheMoss

As we speak I have no access to my account and I am told my transfer request could take between 85 and 90 working days. The Ombudsmen tries to help but they mainly ignore him. 
This is causing me real problems. I am borrowing money from family in spite of having lots of assets.
They have offered me £75 which I have refused for many reasons. I would be grateful for advice as to how much compensation I should look for and how to go about getting it.

shiznit76

They won't get away with just ignoring the Ombudsmen, they have some clout.

My2penneth

I made yet another phone call to the FCA today just to emphasise that things had not improved with ITI and they had possibly got worse. I indicated that ITI were pulling the wool over their eyes. 
I would suggest it is worth having a whinge to the FCA again to simply get the ITI complaint numbers up.  

(FCA  -  0800  111 6768)

(yes, I have raised an FOS complaint but how long will that take?)

My2penneth

shiznit76 said:

They won't get away with just ignoring the Ombudsmen, they have some clout.

But they are glacial with regard to timescales.... and that was before using Covid19 as an excuse.

My2penneth

TheMoss said:

As we speak I have no access to my account and I am told my transfer request could take between 85 and 90 working days. The Ombudsmen tries to help but they mainly ignore him. 
This is causing me real problems. I am borrowing money from family in spite of having lots of assets.
They have offered me £75 which I have refused for many reasons. I would be grateful for advice as to how much compensation I should look for and how to go about getting it.

What I suspected - ITI are waving 2 fingers. Hence there is a need for the FCA to step in and stop them trading until they sort out the transfers. Give them due warning with the threat that the FCA would pull the plug if they don't comply.    

RasputinB

TheMoss said:

As we speak I have no access to my account and I am told my transfer request could take between 85 and 90 working days. The Ombudsmen tries to help but they mainly ignore him. 
This is causing me real problems. I am borrowing money from family in spite of having lots of assets.
They have offered me £75 which I have refused for many reasons. I would be grateful for advice as to how much compensation I should look for and how to go about getting it.

It will take a while for you to read through these pages but you should find some useful advice. You could also look at the SVS Client Support Group organised by Mark Bentley, Director of ShareSoc, as he is helping clients. You will have to join ShareSoc (free) to see the posts and add your problems. https://www.sharesoc.org/forums/topic/problem-reports/