SVS Securities - shut down?

johnburman

Me too Sweeter S.  They responded to TRUSTPILOT and I did a further update saying ....same as Sweeter S says.
But they do care
And they care about their reputation 
Wonder if the FCA know that AND TO ALL UNHAPPY ITI CLIENTS POST REVIEWS ON TRUSTPILOT.

 

sweeter_strudel

Deep breath in folks......
And out.....
And in again.....
If I was writing a book on how to do things ineptly this next chapter would be chucked out as being too ludicrous by the editor.

My ISA shares have been transferred out to the wrong broker - again. I only got them back about a fortnight ago after they spent a month vanished off the face of the earth.

And exhale slowly......

My2penneth

sweeter_strudel said:

Someone is busy cutting and pasting their four stock responses to every single review - probably to try and salvage their reputation....

I noted a metric which said Crapital had replied to 93% of complaints...so that's alright then! ( sarcasm mode engaged).

"Salvage their reputation " ....Good luck with that. 

I wonder how many customers will eventually stay with them..was it worth the bother?  No one with any sense would elect to stay with an expensive broker whose service levels are abysmal. 

pbcinlondon

sweeter_strudel said:

....it has crossed my mind that I may be the last SVS prisoner talking to myself on this forum. 

There's at least one other unwitting 'inmate', me. Let's keep on chiselling our ways out!

ITI are now insulting SVS and other clients by responding to the hundreds of negative reviews on Trustpilot and Google reviews (comes up on Google when you search for the company).

The very specific insult: they are wasting time and resources attempting senseless reputation damage limitation instead of dealing with all the months-old and outstanding requests! Quite reasonably, people want their cash and shares. It will be the five month anniversary on 24 December!

My2penneth

Still here! 
We've had 2 out of 4 accounts transferred out (both were non-ISAs and both await the cash). 
I wonder if ITI are waiting for a period of time to ensure all dividends have been paid before completing the final transfer of cash. That would make sense (but they should tell us - but 'comms' has NEVER been their strong point!).   

Jools2001

Still here too!

Wifes accounts still not transferred or any sign of being transferred,
Nearly 4 months after closing accounts to transfer out,
no replies  at all to about 15 complaints to ITI , now passed onto Ombudsman
as the stress is getting too much for her, unbelievable how this firm are even in existence
even more unbelievable that  the administrator even choose this so called firm in the first place

Absolute shambles ,hopefully when its all sorted , iti get heavily fined or at best closed down!!!

jenwrendorset

Had my weekly chat to iWeb re. the transfer that was supposed to happen on 2 December....last week it seems the dates didn't match and this week, and I quote:

"OK it looks like ITI use two ID's to move stock. It looks like they have given us the wrong one for your shares so we are going to remove this and chase ITI for the correct ID and then input new dates to move the stock over."  .  In anticipation of this I did notify iWeb back in November of the additional PX number and also ITI, who assured me that both numbers would be included in the transfer.  This straw I'm hanging onto is seriously sagging.  However on the upside we did receive three responses from the FCA re. our complaint letters which didn't seem to be the bog-standard response that has previously been sent.  I didn't intentionally start off by complaining about the FCA but it seems we have now (mix up with email addresses I think) and their summing up of our complaints is spot-on - in a nutshell  we're 'claiming that Leonard Curtis and the FCA are jointly responsible for this mess and need to accept responsibility' etc. etc. We should hear back in 4 weeks, albeit just an update. Watch this space.

SteveJohnson56

jenwrendorset said:

Had my weekly chat to iWeb re. the transfer that was supposed to happen on 2 December....last week it seems the dates didn't match and this week, and I quote:

"OK it looks like ITI use two ID's to move stock. It looks like they have given us the wrong one for your shares so we are going to remove this and chase ITI for the correct ID and then input new dates to move the stock over."  .  In anticipation of this I did notify iWeb back in November of the additional PX number and also ITI, who assured me that both numbers would be included in the transfer.  

Does not fill me with confidence. iWeb chat online has on four occasions over the last 2 months assured me that they are requesting details of both SC/PX accounts.

iWeb say ITI are as yet to respond 3 months on, I must be well down the list of escapees.

On a positive note my joint account after on-boarding has been transferred to another broker (12 weeks) but that account was an SC only as I didn't submit my wife's details for them to open a PX. Worryingly before the transfer ITI emailed to say because of a technical fault they had  processed it from on-boarding as an individual account but would change it to a joint account if my wife were to submit her details. They even misspelled, changed the name on the SC account from MR S JOHNSON AND MRS T JOHNSON to MR S AND JOHNSON, to which after complaining they never changed it back or at least corrected the spelling, must be still in their inbox!

Anyway that has transferred and is showing as a joint account with my new broker.
I'm half expecting/dreading a PX account may show up at a later date as they are worse than useless. 

I hope anyone who has managed to be fully shot of this shower have had their PX accounts fully closed as I can see them at a future date levying inactivity charges knowing how incompetent they are. 

Don't quote me on this but I hasten to add I'm sure when I spoke to someone high up at ITI a while back and I said I would be requesting my PX account to be fully closed after transferring I was told   " We don't close PX accounts down"

Geeba

To follow on from my previous posts, I have 2 accounts (1 ISA and 1 dealing) which had transfer requests from ITI for both submitted to my broker in early August. Then early September saw acknowledgement by ITI of the transfers and finally in early October the holdings for both accounts had been transferred!

So this took around 2 months, but the residual cash that had been moved to the 2 Phoenix accounts just sat there regardless of attempts to get it moved too. However, I can now say with some relief that the cash has been transferred for both accounts over the last few days (early December), so overall it has taken some 4 months to complete the 2 transfer requests but at least they are done.  I really don't know why the cash took so much longer to be transferred although I have my suspicions.

My broker, AJ Bell, has informed me that they are now awaiting official transfer completion information (good luck with that) from ITI but basically both transfers are complete!

Hope this update offers some sense of relief to those still waiting that there is progress although it is ridiculously slow.

Good luck all!

Ravima

is there any way we can lodge a complaint with whatever body supervises Leonard Curtis? I cannot find any such body on their website.