In the late 1890s, Greensboro, N.C., pharmacist Lunsford Richardson developed and sold 21 salves and home remedies, including Vick’s Vaporub. The Vick Chemical Company, later named Richardson-Vicks, Inc., went public in 1925 and was sold to Proctor and Gamble in 1985.
Members of the Richardson family formed Piedmont Financial Company in 1928 to meet their financial needs and secure their legacy. Family members have a long history of giving back to the communities in which they live. Their visionary giving includes support for institutions including Davidson College and The Center for Creative Leadership.
Today, Piedmont serves hundreds of families across the United States, including the sixth generation of the Richardson family and other compatible clients.
Richardson Corporation: Richardson Corporation was founded in 1921 as an extension of the real estate investment interests of Richardson-Vicks, Inc. In 1998, the real estate operations were spun off into a separate entity, Richardson Properties, LLC. Today, Richardson Corporation is the parent company of Piedmont Trust Company (PTC) and Piedmont Capital Management, LLC (PCM) and owns a non-voting equity interest in Richardson Properties.
Richardson Properties: Richardson Properties LLC is a private real estate investment company that owns and develops, directly or through joint ventures, office, industrial, retail, and apartment properties in North Carolina, South Carolina, and Virginia. It is managed by a separate board of directors elected by its members.
Piedmont Trust Company: Piedmont Trust Company’s roots date back to 1928 when the Richardson family formed Piedmont Financial Company (PFC) to meet the financial needs of family members. PFC became a subsidiary of Richardson Corporation in 1959. In 2003 PFC became Piedmont Financial Trust Company (PFTC), the first state-chartered private trust company in North Carolina. PFTC changed its name to Piedmont Trust Company in 2011 and in 2017 converted to a public trust company. PTC is a wholly owned subsidiary of Richardson Corporation.
Piedmont Capital Management: Piedmont Capital Management was formed in late 2011 and is the Registered Investment Advisor affiliate of Piedmont Trust Company. PCM operates alongside PTC and was formed to offer additional investment advisory services to its clients. PCM is a wholly owned subsidiary of Piedmont Financial, LLC, a subsidiary of Richardson Corporation.