Jarvis special administration suspends asset access as a transfer is pursued

Jarvis Investment Management Limited entered special administration on 14 October, with S&W Partners’ Adam Stephens and Philip Hemming appointed to manage the firm. Remaining clients are temporarily unable to access assets held with the company.[3]

The affected business is the FCA-authorised investment company, reference 116413. Its own notice draws an important boundary: most retail execution-only customers transferred to interactive investor during 2025, and those transferred clients are not affected by this administration.[3][1]

An unfinished wind-down becomes an insolvency process

The parent’s December 2025 results record completion of the retail execution-only book sale on 7 July 2025 and receipt of £9 million the next day, with two further £1 million payments subject to conditions. These historical transaction amounts describe the preceding wind-down, rather than the present estate available to creditors.[4]

The same results described an intended orderly wind-down and the appointment of S&W to monitor it.[4]

The administrators now say the wind-down did not finish, the board anticipated being unable to meet its obligations, and no suitable buyer was found.[2]

Custody clients can be affected through another firm

Jarvis also supplied execution, custody and administration to brokers, advisers and wealth managers under its Model B arrangement. Their customers were Jarvis clients for those functions even where another firm was their usual contact.[2]

A transfer is being pursued, but has not been agreed

S&W is in advanced discussions with an unnamed FCA-regulated broker and favours a single transfer of clients and transferable assets. Reconciliation, due diligence and transfer terms remain outstanding. The administrators hope to agree terms within eight weeks of appointment, but say the overall process could take months and give no firm access-restoration date. They do not propose charging clients a transfer fee for that preferred-broker route.[2]

The administrators’ initial assessment identified no client-asset shortfall at 14 October. Reconciliation must establish the position before return arrangements can be completed.[2]

The FCA explains that administration and distribution costs can be deducted from client assets where other funds are insufficient. FSCS protection may cover a shortfall and return costs within a combined limit of £85,000 per eligible client for this failure. That ceiling concerns compensation eligibility; it is not a cap on the value of assets the administrators may return.[1][2]

Redress and the return of assets follow different routes

The parent’s December results had identified redress issues involving historic inducements and interest on client money. These liabilities sit alongside the operational task of returning custody assets: a claim for money owed by the company is different from the identification of investments held for a client.[4]

Jarvis’s current notice says its redress programme, previously due to run until 23 December 2026, has stopped because of the insolvency. It directs general enquiries to [email protected] and redress enquiries to [email protected]. FSCS treatment of unpaid redress has not yet been settled in that notice.[3]

The FCA says clients will receive the administrators’ proposed return arrangements and claims process within eight weeks of appointment. Jarvis remains FCA authorised while its affairs are managed by the court-appointed administrators. The next account decision depends on those return terms and the reconciliation of each client’s holdings.[1]

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