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'safety' of X-O.co.uk and Jarvis Investment Management?

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smokey01
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'safety' of X-O.co.uk and Jarvis Investment Management?

#242819

Postby smokey01 » August 8th, 2019, 6:47 pm

Does anyone have a view on the 'safety' of X-O.co.uk and their owner Jarvis Investment Management?

I have accounts spread over IWEB, YouInvest, X-O, Hargreaves Lansdown and also SVS.

Thankfully SVS is my smallest account in size and I am presuming I will eventually get my portfolio back in one form or another.

I'm happy with the other brokers in that IWEB is backed by Lloyds, size of Hargreaves Lansdown etc but X-O I'm not so sure and may need to think about transferring to a bigger broker.

doug2500
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Re: 'safety' of X-O.co.uk and Jarvis Investment Management?

#243593

Postby doug2500 » August 11th, 2019, 6:14 pm

Since you have no replies I'll give you the benefit of my limited knowledge.

As a shareholder of Jarvis, I believe them to be profitable and having a sound balance sheet, enough to weather a storm or two should that happen.

Alaric
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Re: 'safety' of X-O.co.uk and Jarvis Investment Management?

#243603

Postby Alaric » August 11th, 2019, 6:37 pm

doug2500 wrote:
As a shareholder of Jarvis, I believe them to be profitable and having a sound balance sheet, enough to weather a storm or two should that happen.


If the FCA "charge sheet" is to be believed, their problem with SVS and why they forced it to suspend operations wasn't much to do with running a platform, but with other more dubious activities.

Perhaps one should ask what else a Broker does alongside its public face as a platform.

PrefInvestor
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Re: 'safety' of X-O.co.uk and Jarvis Investment Management?

#243632

Postby PrefInvestor » August 11th, 2019, 10:07 pm

smokey01 wrote:.... but X-O I'm not so sure and may need to think about transferring to a bigger broker.


IMHO you really need to spend a bit of time researching the company behind the broker, how big are they (market cap, turnover, clients, profitability etc.). You can find out all of the important stuff by just a bit of googling, it’s not difficult.

Personally I wouldn’t entrust my wedge to ANY small company who might be operating on wafer thin margins (or worse) and if so might to go Into administration. Why risk it ?. Certainly not for reduced trading costs IMHO, size = security and that’s all important in a broker as far as I am concerned.

You’d have to be totally bonkers to put more than the FSCS compensation limit with such an outfit IMV !.

Anyway up to you, but as I said I’d do the research to make sure you are happy with the broking company. I think that’s just an essential step but perhaps one that’s easily overlooked ?.

ATB

Pref

richfool
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Re: 'safety' of X-O.co.uk and Jarvis Investment Management?

#243663

Postby richfool » August 12th, 2019, 8:53 am

smokey01 wrote:Does anyone have a view on the 'safety' of X-O.co.uk and their owner Jarvis Investment Management?

I have accounts spread over IWEB, YouInvest, X-O, Hargreaves Lansdown and also SVS.

Thankfully SVS is my smallest account in size and I am presuming I will eventually get my portfolio back in one form or another.

I'm happy with the other brokers in that IWEB is backed by Lloyds, size of Hargreaves Lansdown etc but X-O I'm not so sure and may need to think about transferring to a bigger broker.

Smokey, I have been investing through Jarvis Investment Management since way back in the 1990's. I subsequently opened an ISA with X-O (their cheaper online service), all without issues. In the past I even held their shares (on the AIM index), but later sold them as I felt I was too exposed to financial services and asset managers.


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