Jarvis IM enters special administration: client assets inaccessible as transfer route remains open

The UK's Financial Conduct Authority (FCA) confirmed on 15 October that Jarvis Investment Management Limited (Jarvis IM) entered special administration on 14 October. Adam Stephens and Philip Hemming were appointed joint special administrators. Jarvis IM, FCA firm reference number 116413, is the legal entity involved. For clients whose money or custody assets are still held there, the immediate consequence is an inability to trade or otherwise use those holdings. Special administration is a court-supervised process for dealing with an investment firm's affairs and client property; its commencement does not establish that client assets are missing or irrecoverable.

The affected client population matters

Jarvis IM's notice says that most clients of its retail execution-only businesses were transferred to Interactive Investor in 2025 and are not affected by this administration. The relevant group is the remaining Jarvis IM clients, including end customers whose wealth manager or adviser used Jarvis IM for custody. The customer-facing brand or introducing firm may not be the legal custodian. Clients should check their agreements and the administrators' communications. The FCA advises people informed that their money or custody assets were held at Jarvis IM to speak to their adviser or wealth manager first.

No completed transfer or compensation decision

The administrators must assess client money and custody assets before deciding how they can be returned or transferred. The FCA says they will write to clients within eight weeks of appointment to explain their plan and claims process; this is a timetable for communication, not a promise that assets will transfer within eight weeks. On 16 October, the Financial Services Compensation Scheme (FSCS) listed Jarvis IM as under investigation. It is assessing whether it can meet the costs of return or transfer for eligible claimants and whether other claims may qualify. It has not decided the scope of protection or the method of return, and customer claims are not yet open. An FSCS investigation is neither an approved payout nor evidence of an asset shortfall.

Jarvis IM says its pre-existing redress programme stopped on insolvency. A redress claim not submitted before special administration may instead rank as an unsecured claim against the company; potential FSCS cover is still being assessed. Such redress claims should not be confused with a client's rights in custody assets.

Implications for clients and intermediaries

Clients can identify the contracting and custody entities, retain account records, and check updates through the FCA, the company and the administrators' published channels. FSCS says they need not submit a claim to it now. Cold calls requesting a payment to ‘unlock’ holdings or asking for credentials should be independently verified. Advisers and introducing firms need to identify which customers actually have assets at Jarvis IM, rather than include the retail customers transferred in 2025, and coordinate accurate records and messages with the administrators.

TraderVote's view

The case shows why the broker and custody chain matters: the brand seen by a customer, the adviser, the executing entity and the asset holder can be different organisations. The reporting question is not whether to attach an unproven loss label to Jarvis IM or its wider group. It is whether asset reconciliation, a receiving broker, changes to contractual relationships, distribution costs and FSCS eligibility can be confirmed. Each remains subject to further official updates.

Sources: FCA, [Jarvis Investment Management Limited enters special administration](https://www.fca.org.uk/news/news-stories/jarvis-investment-management-limited-enters-special-administration), published 15 October 2026; Jarvis IM, [Legal Notice](https://www.jarvisim.co.uk/), undated webpage recording the 14 October appointment; FSCS, [Jarvis Investment Management Ltd — Under investigation](https://protected.fscs.org.uk/making-a-claim/failed-firms/jarvis-investment-management/), updated 16 October 2026. Accessed 16 October 2026, America/Los_Angeles.

This article is not investment advice.