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Davenport & Co. relies on its 150 plus-year history building wealth and earning trust
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Davenport & Co. relies on its 150 plus-year history building wealth and earning trust

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As an employee-owned company, Davenport & Company LLC works for one group of people every day — its clients.

“Building wealth and earning trust is a principle that has sustained our firm for more than 150 years,” according to its nomination for the Top Workplaces.

“We have built a strong culture of service and partnership with countless clients and colleagues that will last for generations.”

The Richmond-based investment firm — which has been a Top Workplaces company for seven consecutive years — was ranked No. 2 in the midsize company category this year.

Founded in 1863, Davenport is 100% employee owed with more than 440 associates, including 175 investment advisors. It is the largest independent investment firm in Virginia and has 23 locations in this state, North Carolina, South Carolina, Georgia and Maryland.

In 2020, the firm celebrated the 70th anniversary of its most tenured employee — Henry Valentine II, the firm’s former president and CEO. More than 70 employees at that time had been with the firm for 25 years or more.

Investment services for individuals, corporations, institutions and municipalities include stock and bond brokerage and investment management, research, financial planning, insurance, public finance and corporate finance.

Through an outreach program, Davenport supports charitable organizations that provide life-enhancing services in communities where employees live and work. The company sponsors volunteer events throughout the year and supports the use of company time and resources for these activities.

“We take a strong interest in the well being of our associates by offering a comprehensive paid time-off policy and a distinctive retirement plan in which the firm contributes 10% of an employee’s annual earning each year regardless of the employee’s contribution,” the nomination states. Davenport also contributes up to $1,200 a year to health savings accounts based on medical coverage election.

To reduce overall healthcare costs and promote wellness, the company partnered with CareTeam Health in 2018 to open an on-site health center for employees and family members.

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