SVS Securities - shut down?

shiznit76

no way would i accept my full and final offer from ITI (which should be here tomorrow), i would fear that i would have no recourse to further complaint should things still not change

RasputinB

eskbanker said:

focusing on getting ITI to complete all outstanding actions has to be the priority...

Do you have any constructive suggestions as to how to do that?

GeorgieC

RasputinB said:

eskbanker said:

focusing on getting ITI to complete all outstanding actions has to be the priority...

Do you have any constructive suggestions as to how to do that?

Rahul ditched the ITI head of dealing desk over a year ago (I think so he could give the job to his friend). That person was on here a couple of weeks back... gcoatexante. He has over 30 years experience in markets and had a good handle on how things work. We should lobby Oleg to get him back in! I know the former chairman suggested this to Oleg before. Hiring an old hand with the task of sorting out our problems could be the answer to our prayers...

eskbanker

RasputinB said:

eskbanker said:

focusing on getting ITI to complete all outstanding actions has to be the priority...

Do you have any constructive suggestions as to how to do that?

Nothing that hasn't already been discussed on this thread - some have suggested that finding the right people to deal with at ITI achieves results, while others appear to have made progress via legal threats.  Pressurising the FCA seems sensible, and the Sharesoc thing also seems to offer a collective voice.

None of that should be necessary of course, but IMHO most of those would seem likely to be more productive in terms of prompting action than escalating individual complaints to FOS, despite the apparent perception that ITI would be influenced by having to fork out FOS case fees.

SteveJohnson56

I have an account with the Halifax share trading, my ITI Capital account is going to iWeb.
I'm considering moving Halifax to iWeb.

Anyone have an opinion as to the difference in customer service, dealing prices etc Halifax compared to iWeb as both being part of Halifax and the websites looking very similar.

Halifax share trade cost £12.50, iWeb £5
Why would anyone stay with Halifax?
Surely can't be just the £85k compensation cover limit per broker.
The address looks to be the same, probably same staff dealing with both companies
What am I missing?

eskbanker

SteveJohnson56 said:

I have an account with the Halifax share trading, my ITI Capital account is going to iWeb.
I'm considering moving Halifax to iWeb.

Anyone have an opinion as to the difference in customer service, dealing prices etc Halifax compared to iWeb as both being part of Halifax and the websites looking very similar.

Halifax share trade cost £12.50, iWeb £5
Why would anyone stay with Halifax?
Surely can't be just the £85k compensation cover limit per broker.
The address looks to be the same, probably same staff dealing with both companies
What am I missing?

There will doubtless be other differences but in terms of the dealing costs you compare, for those investing monthly, Halifax offer a regular investment facility at £2 a pop, which is obviously cheaper than IWeb's £5 (they don't offer an equivalent monthly option).

sweeter_strudel

SteveJohnson56 said:

I have an account with the Halifax share trading, my ITI Capital account is going to iWeb.
I'm considering moving Halifax to iWeb.

Anyone have an opinion as to the difference in customer service, dealing prices etc Halifax compared to iWeb as both being part of Halifax and the websites looking very similar.

Halifax share trade cost £12.50, iWeb £5
Why would anyone stay with Halifax?
Surely can't be just the £85k compensation cover limit per broker.
The address looks to be the same, probably same staff dealing with both companies
What am I missing?

Be very careful - it is NOT a £85k compensation cover limit per broker - it is per financial institution.
Triple check the licence and registration of any broker you move to - you may discover you are not getting any additional protection! And bear in mind, if you have a share trading account and a long term savings account with Halifax for example  (or any subsidiary of Halifax) then if things go horribly wrong you only get £85k of protection once, to cover both the trading account and the savings account. All your assets get lumped together even though in your mind they are completely different products in different places.
Financial institutions have many long and numerous tentacles - the web should be able to help you work out just who is under one umbrella if small print at the bottom of statements is tricky to read.

GeorgieC

See Martin's run down on FSCS and where you are covered...
https://www.moneysavingexpert.com/savings/safe-savings/

shiznit76

Got my compen letter this morning. £75 offered and assured that my transfer will go through on 18th November. Cant see either happening

My2penneth

Surprised they gave you an actual date!  
It's up to you but I wouldn't be mugged off by ITI for £75. They're messed you about and caused you grief for how long now?  Your choice of course.