Norwalk, CT, April 13, 2026 (GLOBE NEWSWIRE) -- John F. Davenport, founder and President of Davenport and Associates, Inc., an independent Family Wealth Planning firm based in Norwalk, Connecticut, is pleased to announce the settlement and closure of a two-year regulatory matter with the State of Connecticut involving his separate registered investment advisory business, J. Davenport Advisors, LLC.

"This was simply a nightmare from the beginning," said John Davenport. "When we opened J. Davenport Advisors, the state told us they would likely visit within the next six months. They actually walked through our doors within three weeks."

John Davenport explained that operating a Registered Investment Advisor requires significant compliance work, and that he retained a well-known compliance consulting firm to assist with that side of the business.

In the two years J Davenport Advisors existed, the firm acquired 12 clients with total assets under $3,000,000. The advisory business was never the primary source of revenue for Davenport and Associates, and John Davenport had considered discontinuing it on multiple occasions given that it was not profitable and was costly to operate.

"When I was called to meet with the State of Connecticut Department of Banking in Hartford, they asked me about a member of my legal staff who had a criminal record," said John Davenport. "I explained the situation. This individual was limited to the legal side of the business and had done a good job. I believed in giving people a second chance."

John Davenport chose not to terminate the employee at the state's request. He and the employee later mutually agreed that parting ways was in the best interest of the company.

The state continued to examine Davenport's business and noted that his law license had been suspended. John Davenport emphasized that the suspension was due solely to non-payment of annual bar dues, a fact the state did not explain publicly, leaving the public to draw inaccurate conclusions.

"My law license was suspended because I did not pay my annual dues. That is the full explanation," said John Davenport. "There was no complaint, no misconduct, and no client issue involved. My law licenses in both New York and Connecticut are currently in good standing and all dues have been paid. I have never received a single complaint regarding my legal services in my entire career."

John Davenport neither admits nor denies the allegations made by the state. He noted that none of the allegations involve client conduct or client complaints.

Over his 30-plus year career as a broker, John Davenport disclosed three or four client complaints, all of which were either dismissed or settled for practical reasons.

After a lengthy process, and given that the advisory business was operating at a loss, John Davenport instructed his attorney to pursue a settlement. The terms he proposed were straightforward: he would voluntarily close J Davenport Advisors and surrender his Investment Adviser Representative license in exchange for a full resolution of the matter, allowing him to continue operating his Wealth Planning practice without further interference.

"My attorney thought it was a great idea and negotiated the settlement," said John Davenport. "I could not have been happier when I heard the state had accepted."

Following the signing of the final order, John Davenport learned that the matter had likely been reported to a local journalist, who subsequently wrote what he describes as a one-sided article intended to damage his reputation.

"Closing my RIA and relinquishing my IAR license has had no negative effect on my business whatsoever," said John Davenport. "I made that offer precisely because I knew it would not. The financially licensed professionals on my team are fully able to offer a wide range of insurance and investment products to our clients. Our practice continues to thrive."

John Davenport expressed gratitude to his attorney and his staff for their support throughout the process.

"It is a shame that a kind act by a dedicated professional resulted in this kind of personal attack," said John Davenport. "But this matter is behind us, and I am looking forward to the future. Davenport and Associates has been a well-respected name in Norwalk, CT and throughout the country for nearly 30 years. That has not changed."

Families and individuals seeking wealth planning and/or estate planning services are encouraged to visit jdavenportassociates.com or call (203) 853-6300 to speak with the team at Davenport and Associates in Norwalk, CT.

 

About Davenport and Associates

Davenport and Associates is a Family Wealth Planning firm founded in 1997 by John F. Davenport, Esq. and headquartered at 800 Connecticut Avenue, Suite E401, Norwalk, CT 06854.

John F. Davenport holds a law degree from Pace University, an MBA in Finance from Fordham University, and an undergraduate degree from the University of Notre Dame. He is a licensed tax attorney in both New York and Connecticut. The firm serves clients across Connecticut, New York, and the United States.

For more information, visit jdavenportassociates.com or call (203) 853-6300.

Press Inquiries

Davenport and Associates
800 Connecticut Avenue, Suite E401
Norwalk, CT 06854
Phone: (203) 853-6300
Email: dbrodie [at] jdavenportassociates.com
Website: https://jdavenportassociates.com