Reid pounced early on with a tap-in to give the visitors the lead.
But Jason Banton, who joined Wycombe from Plymouth in the summer, blasted in an equaliser on 12 minutes from Aaron Pierre's knock-down.
Jervis scored his fourth of the season before half-time when a clearance cannoned off him and into the net.
Wycombe manager Gareth Ainsworth told BBC Three Counties Radio:
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"I can't fault the players efforts. We have had a brilliant start to the season, we just have to take a step back and look at where the club stand in this division.
"If only those posts where a couple of inches wider we would have had a few today, but unfortunately that wasn't the case.
"It's disappointing that we have lost but we now have a big game against Orient to bounce back with. It will be a real David and Goliath Game but I'm looking forward to facing one of the favourites to win the league."
Reuben Reid and Jake Jervis both struck in the first half as Plymouth beat Wycombe to end the Chairboys' unbeaten start in League Two.