Tocqueville Asset Management emphasizes on its website that its two guiding principles are providing "excellent client service and a long-term, goal-oriented view of investing that avoids speculation and resists fads." The independent, privately-owned company also places a strong focus on long-term growth and preservation of capital.
Tocqueville is a fee-based firm with billions of dollars in client assets under its care. The firm earns its compensation through three primary sources: asset-based fees, performance-based fees and commissions. The firm’s advisors serve thousands of clients.
Tocqueville Asset Management Background
Tocqueville is a registered investment advisor (RIA) that can trace its history back to the 1980s. The firm started out as a subsidiary of Tucker, Anthony & R.L. Day in 1985, but it branched out and became independent in 1989. Tocqueville Management Corp is currently the majority shareholder in Tocqueville. The remaining stake of the company is allocated to a dynasty trust settled by Robert Kleinschmidt, the firm's CEO and chief investment officer (CIO).
Based in New York City, Tocqueville also has an office in Vero Beach, Florida.
Tocqueville Asset Management Client Types and Minimum Account Sizes
Tocqueville manages assets for non-high-net-worth and high-net-worth individuals, registered investment companies, hedge funds, wrap fee and third-party sponsored programs, pooled investment funds, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and insurance companies.
The firm generally asks for a minimum investment of $5 million, though this is not a hard-and-fast requirement. However, the firm does impose a $250,000 minimum account size, which may be waived under certain circumstances.
Services Offered by Tocqueville Asset Management
This firm offers the following advisory services:
- Portfolio management
- Discretionary management
- Non-discretionary management
- Wrap-fee and sponsored programs
- In-house mutual funds
- Sub-advisory services
Tocqueville Asset Management Investment Philosophy
When making investment decisions, Tocqueville utilizes fundamental analysis and various other quantitative methods. The firm uses several investment strategies, including: multi-cap equity, international multi-cap equity, global equity, small cap value equity, small-mid cap value equity, small-mid cap growth equity and fixed income/balanced.
Tocqueville also relies upon long-term purchases, leverage, short selling and option trading.
Tocqueville Asset Management Fees
Tocqueville fees for investment management services are negotiable for up to an annual rate of 2.00%. The firm offers the following base fee schedule for separately managed accounts (SMAs), though:
|Investment Management Fee Schedule|
|Amount of assets||Annual fees|
|Up to $5,000,000||1.25%|
|$5,000,0001 to $15,000,000||1.00%|
|$15,000,001 to $25,000,000||0.75%|
|$25,000,000 and above||Negotiable|
Here's a breakdown of roughly what you can expect to pay as an SMA client of Tocqueville:
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Tocqueville Asset Management*|
|Your Assets||Tocqueville Asset Management Fee Amount|
What to Watch Out For
Tocqueville doesn’t have any legal or regulatory disclosures reported on its SEC-filed Form ADV.
Something to note, though, is that advisors at the firm can earn additional compensation from performance-based fees and commissionable investment products. This can create a potential conflict of interest, though the firm and its advisors abide by fiduciary duty.
Opening an Account with Tocqueville Asset Management
You can connect with an advisor at Tocqueville by visiting any of its offices. You can also contact a firm representative at (212) 698-0800.
All information is accurate as of the writing of this article.
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