Last updated: 16 October 2026
Jarvis Investment Management, the stockbroker behind x-o.co.uk and ShareDeal Active, entered special administration at 11am on 14 October 2026. The High Court appointed Philip Hemming and Adam Stephens of S&W Partners LLP as joint special administrators.
Client accounts are frozen while the administrators reconcile holdings. They say they understand there is no shortfall in client money, but that is not yet confirmed.
The detail most coverage has missed: two redress schemes that were paying clients compensation have stopped. Anyone who was offered money but had not claimed it is now an unsecured creditor.
Table of Contents
Contents
- Who is affected
- What happens to your shares and cash
- The redress schemes have stopped
- FSCS protection: the £85,000 limit
- Key dates
- What to do now
- FAQ
Who is affected
Jarvis traded under several brand names, so many clients may not recognise the company name on the news. According to the administrators, the brands included:
- x-o.co.uk
- ShareDeal Active
- London South East Trading and SharePrices Trading
- Dial-n-Deal
- Sellmysharecertificates.com
- Signature
It also provided custody and settlement for other stockbrokers, advisers and wealth managers. Their customers may hold assets at Jarvis without ever opening an account there, so the FCA tells anyone in that position to speak to their adviser first.
Most retail clients are not caught up in this. In July 2025 Jarvis sold its retail execution-only book to interactive investor for up to £11 million, with £9 million paid on completion. Clients who moved to interactive investor then are unaffected, according to the Jarvis website.
| Your situation | Affected? | Who to contact |
|---|---|---|
| Moved to interactive investor in 2025 | No | interactive investor as normal |
| Still held shares, an ISA or cash with Jarvis or one of its brands | Yes, account frozen | The special administrators |
| Your adviser or wealth manager used Jarvis for custody | Possibly | Your adviser first |
| Offered redress but had not claimed it | Yes, now an unsecured creditor | The administrators’ redress team |
| Held a Jarvis SIPP | Jarvis left the SIPP market in April 2024 | Your SIPP provider or trustee |
What happens to your shares and cash
Clients cannot sell, withdraw or transfer anything for now, and the online portal is down. Dividends and interest received after 14 October are being held in a separate account.
The administrators’ preferred plan is to move every client and all transferable assets to a single FCA-regulated broker. Talks are confidential, so the broker has not been named. Clients will pay no transfer fee, and no individual returns will be made before the move.
ISA wrappers are to be preserved, which matters: an ISA moved as part of the process should keep its tax-free status. Each client will get a valuation and statement as at 14 October, and can dispute it.
Speed is the open question. The administrators aim to agree terms with a broker within about eight weeks, but say reconciliation and transfer will take “a number of months”.
The redress schemes have stopped
This is the part that changes things for a specific group. In December 2025 Jarvis Securities, the AIM-listed parent, set aside £2,831,848 to compensate clients over two FCA-agreed issues. The schemes opened on 25 June 2026 and were due to run until 23 December 2026:
- LSE Redress: clients introduced through London South East Trading or SharePrices Trading were charged higher dealing fees.
- Terms of Business Redress: older client terms used unclear, potentially misleading wording about interest on uninvested cash.
Both schemes closed the moment the administrators were appointed, because payments can no longer be made outside the insolvency. If you had a redress letter or email but had not claimed through the portal, you are a “redress creditor” with an unsecured claim.
Unsecured creditors are paid from the company’s own assets, after costs, and only if there is enough. The administrators cannot yet say whether they will pay anything. Your client money and custody assets are a separate pot, held for you, and are not used to pay creditors.
To keep your claim alive, you need to send a proof of debt form. The FSCS is also looking at whether unpaid redress could qualify for compensation, but has made no decision.
FSCS protection: the £85,000 limit
For a failed investment firm, the Financial Services Compensation Scheme covers up to £85,000 per person. That limit has not changed, even though bank deposit protection rose to £120,000 in December 2025, as we covered in our piece on Halifax moving to Lloyds.
The cover applies to any shortfall in client money or assets, plus the cost of returning them. Your holdings are not lost just because the firm failed; FSCS fills a gap only if one emerges.
Do not file an FSCS claim yet. The FSCS says it is not open to claims and lists the firm as “under investigation”. The administrators are liaising with it on clients’ behalf.
Key dates
| Date | Event |
|---|---|
| 16 Sep 2022 | Jarvis agrees FCA restrictions on its activities |
| Apr 2024 | Exits the SIPP market |
| 7–8 Jul 2025 | Retail execution-only book sold to interactive investor |
| 30 Dec 2025 | £2.83m redress provision announced |
| 25 Jun 2026 | Redress schemes open |
| 28 Aug 2026 | Sale of the remaining business abandoned: no offers |
| 14 Oct 2026 | Special administrators appointed; redress schemes close |
| By 9 Dec 2026 | Administrators’ proposals sent to clients and creditors |
The parent, Jarvis Securities plc, is now an AIM cash shell. Its board plans to delist and return any remaining reserves to shareholders, subject to a shareholder vote.
What to do now
- Check which group you are in using the table above. If you moved to interactive investor in 2025, you need do nothing.
- Wait for the administrators’ letter. They will email or write to active clients directly.
- Send a proof of debt if you were offered redress and want the money. The form and redress FAQs are on the S&W Jarvis administration page.
- Tell the administrators about hardship if a frozen account is causing it. Eligible clients may get an early FSCS hardship payment.
- Keep the interest element in mind for tax. Redress includes interest at Bank of England base rate plus 1%, which may need declaring to HMRC.
- Ignore cold callers. Nobody needs a fee or a bank transfer to release your assets, and claims firms add cost without speeding anything up.
Contacts given by the administrators: [email protected] for general queries, [email protected] for redress, and 020 3400 7999.
The bigger lesson for anyone using a small broker is to know who actually holds your assets. If you are weighing up platforms now, our reviews of Prosper and Moneyfarm set out how each is regulated.
FAQ
What happened to Jarvis Investment Management?
It entered special administration on 14 October 2026 after a planned wind-down stalled and a sale found no buyer. S&W Partners LLP now runs it, with the aim of returning client assets.
Is my money safe with Jarvis?
Client money and investments are held separately from the firm’s own money. The administrators understand there is no shortfall, though this is not yet confirmed. FSCS covers eligible shortfalls up to £85,000.
Who took over Jarvis Investment Management?
Nobody has yet. interactive investor bought most retail accounts in 2025. The administrators plan to move the remaining clients to one FCA-regulated broker, which has not been named.
I was offered redress. Will I still get paid?
Not automatically. Unclaimed redress is now an unsecured claim, so you need to send a proof of debt. Whether it is paid depends on the company’s assets; the FSCS is checking whether it can cover it.
Is x-o.co.uk part of Jarvis?
Yes. x-o.co.uk was one of Jarvis’s trading brands, along with ShareDeal Active, London South East Trading, SharePrices Trading, Dial-n-Deal and others.
Do I need to claim from the FSCS?
No, not now. The FSCS says it is not open to claims on Jarvis yet and will publish an update when its investigation moves on.
Sources: FCA statement, 15 Oct 2026; S&W Partners, Jarvis special administration page and FAQs; FSCS, Jarvis Investment Management; Jarvis Securities RNS, 15 Oct 2026; Jarvis Securities audited results and FCA update, 30 Dec 2025; Jarvis Securities update, 28 Aug 2026; FSCS investment limits.
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