SEC-registered wealth management firm Broker-dealer affiliated
Davenport & Company LLC
As of its Form ADV filed July 27, 2026, Davenport & Company LLC, an SEC-registered, broker-dealer affiliated wealth management firm in Richmond, Virginia, reported $24.7 billion in regulatory assets under management across 24,315 accounts, ranking #1 among all wealth firms in Virginia by assets.
Registration
- Registration
- SEC-registered, Approved
- CRD number
- 1588
- SEC file number
- 801-13057
- Registered since
- June 2, 1977
- Latest Form ADV filing
- July 27, 2026
- Organized as
- Limited Liability Company
- Fiscal year ends
- December
- Other offices
- 29
Key figures
- Regulatory assets under management
- $24.7 billion
- Discretionary
- $23.9 billion (96.9%)
- Non-discretionary
- $769.7 million
- Accounts
- 24,315 (23,906 discretionary)
- Clients
- 17,808, approximate as reported
- Employees
- 525
- Advisory staff
- 228 performing investment advisory functions
- Average account
- $1.0 million
- Asset growth, 1 year
- 9.9% (from $22.5 billion a year earlier)
- Asset growth, 3-year annual rate
- 14.2% (from $16.6 billion three years earlier)
- Asset growth, 5-year annual rate
- 9.0% (from $16.1 billion five years earlier)
- Client growth, 1 year
- 7.4% (from 16,587)
Broker-dealer affiliated. The firm is itself a broker-dealer as well as an investment adviser (Form ADV Item 6.A(1)). It is ranked among all wealth firms, the directory's view that includes wirehouses and broker-dealer firms, not in the main lists of independent RIAs. How firms are classed.
Growth rates come from the SEC's yearly snapshots and are left blank when the years are not comparable.
Rankings
Among all wealth firms, including wirehouses and broker-dealer firms.
Assets over time
Data table
| As of | RAUM |
|---|---|
| October 1, 2010 | $4.0 billion |
| October 3, 2011 | $4.6 billion |
| October 1, 2012 | $4.7 billion |
| October 1, 2013 | $5.3 billion |
| October 1, 2014 | $7.1 billion |
| October 1, 2015 | $8.7 billion |
| October 3, 2016 | $8.4 billion |
| October 2, 2017 | $10.4 billion |
| October 1, 2018 | $12.7 billion |
| October 1, 2019 | $11.7 billion |
| October 1, 2020 | $14.1 billion |
| October 4, 2021 | $16.1 billion |
| October 3, 2022 | $20.8 billion |
| October 5, 2023 | $16.6 billion |
| October 1, 2024 | $19.3 billion |
| September 2, 2025 | $22.5 billion |
| October 2, 2026 | $24.7 billion |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| High net worth individuals 5,667 clients | $14.1 billion | |
| Investment companies 1 client | $4.1 billion | |
| Individuals (other than high net worth) 11,188 clients | $3.8 billion | |
| Charitable organizations 595 clients | $1.3 billion | |
| Pooled investment vehicles 3 clients | $679.5 million | |
| Pension and profit sharing plans 114 clients | $322.4 million | |
| Corporations or other businesses 98 clients | $223.1 million | |
| Other 51 clients | $122.6 million | |
| State or municipal government entities fewer than 5 clients | $69.4 million | |
| Insurance companies fewer than 5 clients | $26.8 million | |
| Banking or thrift institutions fewer than 5 clients | $0 | |
| Other investment advisers fewer than 5 clients | $0 | |
| Sovereign wealth funds and foreign official institutions fewer than 5 clients | $0 |
How the firm is paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Commissions
- Performance-based fees
- Other
Advisory services
- Financial planning
- Portfolio management for individuals or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses or institutional clients
- Pension consulting
- Selection of other advisers
- Educational seminars or workshops
Financial planning clients (Item 5.H): 2500.
Wrap fee program sponsor or portfolio manager: yes.
Other business, affiliations and custody
Other business activities (Item 6.A)
- Broker-dealer
- Insurance broker or agent
- Registered municipal advisor
- Other financial products
Financial industry affiliations (Item 7.A)
- Broker-dealer
- Municipal advisor
Advises 3 private funds (Item 7.B).
Custody (Item 9)
The firm reported custody of client cash or securities, $6.6 billion in total.
Investment adviser representatives
- IARs registered with the firm
- 339
- Also registered through a broker-dealer
- 338
- Employees who are IARs (Form ADV 5.B(3))
- 332
Designations held by the firm's IARs: CFP 47, CFA 18, ChFC 3.
7 of the firm's 339 IARs are registered in jurisdictions that require IAR CE. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 2 disclosure questions. See the detail on IAPD.
Succession and acquired firms
On Form ADV Item 4 the firm did not report succeeding to another adviser's business.
Similar-sized firms in Virginia
| Firm | City | RAUM |
|---|---|---|
| Cary Street Partners | Richmond | $10.3 billion |
| Brown Advisory | Norfolk | $7.6 billion |
| Cassaday & Company, Inc. | McLean | $7.1 billion |
| Andersen | McLean | $6.3 billion |
| Evanson Financial, LLC DBA Evanson Asset Management | McLean | $5.8 billion |
The five wealth firms, broker-dealer affiliated firms included, nearest in regulatory assets with a main office in the same state.
Elsewhere
- Davenport & Company LLC on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: www.investdavenport.com
- Wealth management firms in Virginia
Firm data as of October 2, 2026, from ia100226.zip. Figures are as the firm reported them; corrections are made on Form ADV and appear after the next monthly reload.
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.