Most clients of failed discretionary fund manager Strand Capital Limited will have their investments returned in full, with support from the Financial Services Compensation Scheme.
Strand Capital went into administration in May 2017 following the breakdown of an internal management buyout, with 2,500 clients holding investments with the company.
In May 2018 the FSCS said it had paid out £5.7m to 796 customers who invested through their self-invested personal pension (Sipp), but the company's administrators Smith & Williamson have now confirmed almost all clients will have their investments returned in full.
The distribution plan received High Court approval on April 2, with the majority of the costs, including administrator and legal fees, being borne by the FSCS.
Strand Capital clients have been urged to get in touch with Smith & Williamson to provide details of where their assets should be sent.
Adam Stephens, partner at Smith & Williamson and one of the special administrators of Strand Capital, said: "We believe this distribution plan provides the best outcome for Strand's clients as we are now able to return almost all clients' assets to them in full.
"The approval of the distribution plan, with the support of the FSCS, represents the achievement of an important milestone in this insolvency."
In 2016 Strand Capital's sole shareholder sought to sell its shares in the company, claiming it was no longer a "strategic fit" with its ongoing business plan, and a sale by management buyout was explored as a result.
However, the breakdown of this intended management buyout led to key senior management, who held the relevant FCA regulated functions, leaving Strand Capital in March 2017.
Coinciding with a subsequent breakdown of the relationship with the DFM's trading platform provider, an agreement with the Financial Conduct Authority was reached to cease carrying out regulated activity and Strand Capital ceased dealing with client monies and assets.
The DFM's director subsequently placed the company into special administration.