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Davenport & Company LLC (Richmond)


Davenport & Company LLC is a large advisory firm based in Richmond. It manages $11.72 billion of regulatory assets for 15,899 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.

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Davenport & Company provides financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and educational seminars and workshops. It prepares financial plans for more than 250 clients. On top of advisory services, the firm also engages as corporate finance.

Davenport & Company: assets under management

The assets under management (AUM) of Davenport & Company LLC is $11.72 billion. The firm's AUM has grown by 554% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.


The firm manages $10.72 billion in discretionary accounts and $998.46 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $698.03 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.83 million.
Davenport & Company has custody of $11.01 billion in cash and securities for 15,841 clients in total and acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 57% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 14% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Davenport & Company LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, commissions, and performance-based fees. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Davenport & Company serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Davenport & Company is high net worth individuals with 1,834 clients and $4.48 billion of assets under management. Among the 7 most similar advisory firms, Davenport & Company has the 3rd lowest percentage of high net worth individuals out of all clients.


The amount of regulatory assets under management is $11.52 billion for 11,877 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Davenport & Company also advises several private funds. Namely, three hedge funds. The minimum investment commitment required of non-related persons ranges from $10,000 to $500,000.

Careers at Davenport & Company LLC

The company employs 441 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. 288 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
Henry Lee Ii Valentine Chairman, director 1 Feb 1972 Other 452245
Joseph Linwood Iii Antrim Executive vp, director 1 Jan 1975 Other 6477
James Franklin Jr Lipscomb Exec vp, director 1 Feb 1976 Other 310547
Coleman Iii Wortham President, ceo, director 1 May 1976 Other 472921
Emil Otto Nolting Jr Williams Svp, director 1 Sep 1977 Other 846387
Robert Benton Giles Evp, director 1 Jan 1978 Other 220580
Edward Crosby Darling Svp, director 1 Mar 1980 Other 866685
Thomas Kenney Barrett Svp, director 1 Jun 1982 Other 13487
Edward Rigby Jr Lawton Svp, director 1 Apr 1986 Other 822717
Edward Trigg Jr Brown Evp, director 1 Dec 1990 Other 850295
Robert Francis Mizell Evp, cfo, director 1 Dec 1990 Other 1836694
William Martin Jr Noftsinger Svp, director 1 Dec 1990 Other 732203
Lucy Williams Hooper Senior vice president, director 1 Jun 1992 Other 733228
Henry Lee Iii Valentine Svp, director 1 Dec 1992 Other 1137054
Harry Briggs Beadell Svp, director 1 Dec 1993 Other 15535
Michael Sunderland Beall Executive vp, director 1 Jan 1996 Other 707266
Joseph Lee Iii Keiger Svp, director 1 Jan 1996 Other 731240
Ann Minornuckols Richmond Svp, director, treasurer 1 Jan 1996 Other 2144754
Sigurd Robert Jr Wendin Fvp, director 1 Jan 1996 Other 463281
Inc Davenport & Co. Of Virginia Member 1 Mar 1997 50% - 75% 54-0901611
Davenport Corp. Member 1 Mar 1997 Other 54-1837917
Rodney David Rullman Svp, director 1 Mar 1998 Other 1007522
David Mckinley West Svp, director 1 Mar 1998 Other 1341378
Beverley Bland Iii Munford Vice chairman, honorary director 1 Mar 1998 Other 342760
Thomas Eugene Love Senior vp, director 1 Mar 2000 Other 707786
Dava Corp. Member 1 Mar 2001 Other 54-2021982
David Peter Rose Svp, director 1 Mar 2001 Other 1288846
Victor Landon Harper Svp, director 1 Mar 2001 Other 237510
Leon Gary King Svp, director 1 Mar 2001 Other 1419293
Harold Arthur Gellis Vp, crop 1 Apr 2001 Other 219567
William David Jr Gorsline Svp, director 1 Mar 2002 Other 1020073
Lucy Williams Hooper Executive vp, director 1 Mar 2002 Other 733228
W David Jr Gorsline Svp, director 1 Mar 2002 Other 1020073
James Milton Traudt Svp, director 1 Apr 2003 Other 1037033
John Paul Iv Ackerly Svp, director 1 Mar 2004 Other 2460550
William Randolph Iv Barksdale Svp, director 1 Mar 2004 Other 720050
Richard Edward Iii Dolan Svp, director 1 Mar 2004 Other 2348347
Kathleen Regina Maccio Holman Evp, cao, director 1 Mar 2004 Other 2551633
Richard Walter Iv Jones Svp, director 1 Mar 2004 Other 261654
Andrew Joseph Sr Jowdy Svp, director 1 Mar 2004 Other 1086582
Maura Jane Lavay Svp, director 1 Mar 2004 Other 1255728
Christopher Pickett Blair Svp, director 1 Mar 2004 Other 1196917
Leavenworth Mcgill Ferrell Svp, director 1 Mar 2004 Other 2319738
Kathleen Regina Holman Svp, director 1 Mar 2004 Other 2551633
Herbert Foreman Hargroves Svp, director 1 Mar 2004 Other 1664429
Hubert Shands Jr Taylor Sio, secretary, honorary director 1 Mar 2004 Other 443214
Laura Ellen Amory Cco for investment advisory activities 1 Oct 2004 Other 4041227
Timothy Stewart Taylor Svp, director 1 Mar 2006 Other 1492229
Richard Mark Coradi Svp, director 1 Mar 2006 Other 1523319
Michael Joseph David Kane Svp, director 1 Mar 2006 Other 704604
Courtney Edward Rogers Svp, director 1 Mar 2006 Other 2237168
James Edward Crawley Svp, director 1 Mar 2006 Other 1776949
Theresa Jo Manderski Avp, crop 1 Nov 2006 Other 2928010
Jenny Alice Duncan Vp, srop 1 Nov 2006 Other 1207204
Denise Carol Peters Svp, cco of investment advisory services 1 Jan 2007 Other 2985286
Sandra Ward Mauney Fvp, acting chief compliance officer 1 Jan 2007 Other 1806069
Sean James Allburn Svp, director 1 Mar 2007 Other 2605269
David Charles Anderson Svp, director 1 Mar 2007 Other 2312279
Kenneth Stuart Gregory Svp, director 1 Mar 2007 Other 1160002
Eugene Massie Jr Valentine Svp, director 1 Mar 2007 Other 1072110
Allen Hallett Iii Whitehead Svp, director 1 Mar 2007 Other 1956538
John Michael Koth Svp, srop 1 Oct 2007 Other 1760032
Timothy Stewart Taylor Svp, director 1 Mar 2008 Other 1492229
Jonathan Aubrey Stratton Avp, crop 1 Jun 2008 Other 4808131
Edin Nmn Terzimehic Asvp, rosfp 1 Dec 2008 Other 4634023
Edin Terzimehic Asvp, rosfp 1 Dec 2008 Other 4634023
Judy V Poore Asvp, aml compliance officer 1 Dec 2008 Other 4458782
Judy Vanmetre Poore Asvp, aml compliance officer 1 Dec 2008 Other 4458782
Joel Mason Ray Svp, director 1 Apr 2009 Other 1483620
Barbour Thornton Farinholt Svp, director 1 Apr 2009 Other 1979135
Christopher Wayne Rusbuldt Svp, director 1 Apr 2009 Other 2219071
Brian Andrew Mccormack Svp, chief compliance officer 1 Jun 2009 Other 1600487
Joseph Walter Paucke Svp, director 1 Mar 2010 Other 1208500
Kevin George Jr Boll Svp, director 1 Mar 2010 Other 2881689
George Levin Smith Svp, director 1 Mar 2010 Other 2988110
Gary Wilson Scott Svp, director 1 Mar 2010 Other 1480048
Cleighton Lee Jr Hilbert Svp, director 1 Mar 2010 Other 2795473
Irving Lee Iv Chapman Svp, director 1 Mar 2010 Other 2489697
William Robertson Beverley Hershey Svp, director 1 Mar 2011 Other 2909345
Edward Fiscus Iii Cole Svp, director 1 Mar 2011 Other 4146443
Coleman Iii Wortham Chairman, ceo, director 1 Jan 2012 Other 472921
Irving Lee Iv Chapman President, coo, director 1 Jan 2012 Other 2489697
John Garth Vine Svp, director 1 Mar 2012 Other 1147747
William Frank Calliott Svp, director 1 Mar 2012 Other 38680
Coleman Iii Wortham Chairman, director 1 Mar 2013 Other 472921
Irving Lee Iv Chapman President, ceo, director 1 Mar 2013 Other 2489697
Harrison Moncure Geho Svp, director 1 Mar 2013 Other 2361637
Hylah Boyd Ballowe Svp director 1 Mar 2014 Other 2533434
Maureen Ann Gallihugh Svp director 1 Mar 2014 Other 1125521
Joel Mason Ray Svp director 1 Mar 2014 Other 1483620
Bradley Lawrence Watson Svp director 1 Mar 2014 Other 2415210
Theresa J Manderski First vice president, aml compliance officer 1 Oct 2014 Other 2928010
Devon Matthew King Managing director 1 Mar 2015 Other 3159085
John Robert Gansman Managing director 1 Mar 2016 Other 2382152
Harry Wayne Iii Hamilton Managing director 1 Mar 2016 Other 1345514
Catherine Connelly Keiger Managing director 1 Mar 2016 Other 1313165
Grayson Bishop Prillaman Managing director 1 Mar 2016 Other 2707727
Inc Davenport Iv Member 1 May 2016 Other 81-2716554
James Edward Sanderson Svp, director 1 Mar 2017 Other 4886781
Aric Norman Wagner Managing director 1 Mar 2017 Other 2267313
Virginia Barton Jarrett Managing director 1 Mar 2018 Other 1302171
Thomas Winston Price Managing director 1 Mar 2018 Other 2895319
Geoffrey Adam Sulanke Managing director 1 Mar 2018 Other 4808910
Alison Leslie Lewis Svp, cco of investment advisory services 1 Apr 2018 Other 3113092

Based in Richmond

The principal office where Davenport & Company LLC performs its advisory services is located at One James Center, Richmond, VA 23219 The mailing address of the firm is P.O. Box 85678, Richmond, VA 23285 5678. An additional office of the firm is in Greensboro, NC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 804-780-2000 or by fax 804-549-4339. The normal business hours are 8:45 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at investdavenport.com/howren.


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