Ample experience and a measured approach earn Davenport an Above Average Parent rating.
Richmond, Virginia-based Davenport & Company’s roots date back more than 150 years. The firm has long served brokerage clients in the mid-Atlantic United States, and its successful expansion into investment management during the 1980s has been supported by high employee retention and a prudently managed lineup of strategies. The firm has been judicious with product launches, offering just five funds since 1998 with solid risk-adjusted results and reasonable fees. Davenport's brokerage executes most of the funds’ trades; however, it pays no commissions, and measures are in place to manage conflicts of interest.
Davenport’s investment team sports long tenures and deep industry experience while spanning multiple generations. This creates a strong environment for succession planning and helps alleviate key-person risk. As many firms dealt with significant outflows in 2022, Davenport’s funds had modest inflows through September. With $9 billion in assets under management, the firm continues to focus on gradual growth, recently adding to its distribution ranks to explore other platforms and further diversify its client base. Its history of measured growth and robust team of investors give confidence in Davenport’s ability to continue providing attractive options for investors.