Charlotte’s J. Ralph Stump helped reshape furniture industry

J. Ralph Stump, a Charlotte-based furniture industry adviser and merger specialist, has died at age 86.

Stump suffered from Parkinson’s disease and had been cared for at Stewart Health Center in Charlotte.

He founded Stump Financial Corp. in 1972 after a career in banking and asset-based lending with William Iselin Company, according to his son, Tim Stump. His worked allowed him to travel the world.

Stump brought sons Tim and Randy into the business and saw it grow and extend it’s influence.

Randy Stump launched The Stump Corporation, an industrial real estate brokerage, with his dad in 1989. He continues to run the business today with Ralph’s grandson, John R. Stump III.

Tim Stump is owner and president of Stump & Company, which helps shareholders sell businesses.

“He was a terrific father and partner and mentor to my brother and me and now his grandson,” Tim Stump said.

Ralph Stump had retired by 2010. He had advised more than 500 furniture companies during his career, which led to many consolidations and development of national and international furniture companies.

By contrast, Stump was born in a small cabin in Ashe County, where the family still maintains a farm.

Stump earned an MBA at UNC Chapel Hill. Before that, he attended what was then N.C. State College and received the first degree ever granted in experimental statistics. While there he met Nancy Alderman Banks of Garner, who became his wife of 63 years. Together they traveled to more than 150 countries.

In addition to his sons and grandson, Stump is survived by his older brother, Marvin Stump of Jefferson.

This story was originally published September 27, 2015 at 12:58 PM with the headline "Charlotte’s J. Ralph Stump helped reshape furniture industry."