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Tocqueville Asset Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

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
$500K $6,250
$1MM $12,500
$5MM $62,500
$10MM $112,500

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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How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research