SVS Securities - shut down?

shiznit76

Sheris said:

My2penneth said:

Over at Sharesoc, there was a mention that   Crapital were tripling their transfer team. That's 3 people then.  
Keep phoning the FCA to complain about ITI...do not relax the pressure. 

Sharesoc dont give a ---- like the rest of them.

Don't agree, Mark at Sharesoc helped with getting my transfer finally completed. He seems to be the only person ITI is in communications with. Well worth joining for his help

Clairabella

I don’t like the compensation culture that is becoming the norm in this country. However, in this case, given the ridiculous time scale, total lack of communication, potential loss of money, my time and the stress caused, I feel that it is justified! I have never claimed before, do I just hope that compensation is offered or do I have to ask for it? This is to both ITI and FCA. Do I fill in the online complaint forms to FOS and FCA or phone or just email them a letter please? 

eskbanker

Clairabella said:

I don’t like the compensation culture that is becoming the norm in this country. However, in this case, given the ridiculous time scale, total lack of communication, potential loss of money, my time and the stress caused, I feel that it is justified! I have never claimed before, do I just hope that compensation is offered or do I have to ask for it? This is to both ITI and FCA. Do I fill in the online complaint forms to FOS and FCA or phone or just email them a letter please? 

For ITI themselves, the complaints process is as discussed a few weeks back in this thread - it's up to you how you wish to phrase your complaint and what outcome you're seeking, but if they fail to resolve it adequately within the eight weeks then you can escalate to FOS, via any of the channels at https://www.financial-ombudsman.org.uk/contact-us

The FCA don't deal with consumer complaints as such so they're unlikely to intervene directly on your own issues, but some on here have been highlighting ITI's poor performance to them, since the FCA were apparently pushing ITI to comply with rules and regulations, and it doesn't do any harm to let them know if this still isn't happening.

flustered

Just to let you all know that finally my shareholdings were transferred from ITI Capital to iWeb yesterday (Monday).  All that remains is to transfer a little remaining cash.  Not sure if that will automatically happen or whether I have to complete another cash transfer form. I'll give it a few days.  Good luck to others!

sweeter_strudel

flustered said:

Just to let you all know that finally my shareholdings were transferred from ITI Capital to iWeb yesterday (Monday).  All that remains is to transfer a little remaining cash.  Not sure if that will automatically happen or whether I have to complete another cash transfer form. I'll give it a few days.  Good luck to others!

Well done. Cash should go automatically, with some dribs and drabs arriving subsequently if/when dividends get credited by ITI. At least that was my experience of my one and only successful transfer to date.

Waiting for another two to happen..... One out to iWeb, sigh sigh sigh - why can't it be me saying I've escaped?

At least my missing shares have returned so there is something to actually transfer out.... Although they were AWOL for an entire month of worry.

Nbs222

At last one of our ISA and normal shares have transferred to IWEB though  there are still 4 ISA stock items  and cash to be transferred but it's a big relief , at least one of our transfers has happened.  Just hoping the other ISA and normal transfer will happen soon.

It certainly has reduced the stress

jenwrendorset

After sending a rather terse email to ITI bemoaning the fact that despite advice to the contrary, valuations hadn't been sent to iWeb last month  only now to learn that, in fact, they had, or at least one had.....still waiting on confirmation re. the second one and the delay is now at the iWeb end.  If only both parties could keep us informed of progress then I feel so much of this pent up frustration/stress/anxiety could have been avoided. My own transfer in September went through so smootly; I was informed by ITI that they had received my transfer request and then iWeb let me know what was happening, what shares were in the valuation and the expected date of transfer (which actually happened on time) - this is how I expect things to work but since then it has been a constant battle just to keep things moving ahead - oh to have been blessed with telepathic abilities.

Also today I received a request to complete a closure form for our now defunct, empty joint account - problem is I don't actually understand the form !! three pages of irrelevancy, nothing quite as simple as 'please close this account' dated and signed - oh well that's tomorrow's conundrum.

johnburman

Advice for transfers: SVS [LC] sent some old dividends to ITI who sent it to our new brokers.  Problem is our new brokers and ITI don't know what it is for!  Lucky us you may say, soem unexpected cash...yes indeed but sorting it all out is a problem.  We got new Tax Certs from LC.  Have asked for Tax Certs from ITI but so far nothing.  FOS is even slower than I was expecting.  Anybody got any compensation/ideas of how much they will receive from them? 

sweeter_strudel

Remarkably I got one of my accounts transferred out from ITI - destination ii.
Amazingly they think they are still awaiting confirmation of a date when I asked ii for an update.
Nothing has arrived at iWeb yet..... well, that would be too much to hope for.
Leaving me with one unsupported share holding left in limbo with ITI.
And two open complaints with the FOS.

My2penneth

One of our ITI accounts (of 4 in total) has - at long last (4 months) been transferred to iWeb.  No notification - it just happened. I noticed it when I logged on to my iWeb account tonight. I'm off for a brandy to counter the shock! 
(and all seems to have been transferred correctly).