Clients
Tocqueville Asset Management serves 1,270 clients, 741 of them high-net-worth individuals. The average client has about $8.1 million with the firm, and high-net-worth clients hold 55% of its $10.2 billion in assets.
- High-net-worth individuals741 clients55%
- Investment companies3 clients9%
- Pooled investment vehicles8 clients2%
- Pension and profit-sharing plans15 clients6%
- Charitable organizations42 clients11%
- OtherState or municipal government entities, Other investment advisers, Corporations and other businesses, Individuals, Insurance companies15%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 418 | $53,881,121 | 0.5% | $129K |
| High-net-worth individuals | 741 | $5,672,225,602 | 55.4% | $7.65M |
| Investment companies | 3 | $956,213,293 | 9.3% | $318.7M |
| Pooled investment vehicles | 8 | $254,265,135 | 2.5% | $31.8M |
| Pension and profit-sharing plans | 15 | $599,656,746 | 5.9% | $40.0M |
| Charitable organizations | 42 | $1,176,631,427 | 11.5% | $28.0M |
| State or municipal government entities | 6 | $290,893,515 | 2.8% | $48.5M |
| Other investment advisers | 6 | $774,889,478 | 7.6% | $129.1M |
| Insurance companies | 5 | $181,534,379 | 1.8% | $36.3M |
| Corporations and other businesses | 26 | $279,574,536 | 2.7% | $10.8M |
| Total | 1,270 | $10,239,765,232 | 100% | $8.06M |
- Clients
- 418
- Regulatory AUM
- $53,881,121
- Share
- 0.5%
- Avg. per client
- $129K
- Clients
- 741
- Regulatory AUM
- $5,672,225,602
- Share
- 55.4%
- Avg. per client
- $7.65M
- Clients
- 3
- Regulatory AUM
- $956,213,293
- Share
- 9.3%
- Avg. per client
- $318.7M
- Clients
- 8
- Regulatory AUM
- $254,265,135
- Share
- 2.5%
- Avg. per client
- $31.8M
- Clients
- 15
- Regulatory AUM
- $599,656,746
- Share
- 5.9%
- Avg. per client
- $40.0M
- Clients
- 42
- Regulatory AUM
- $1,176,631,427
- Share
- 11.5%
- Avg. per client
- $28.0M
- Clients
- 6
- Regulatory AUM
- $290,893,515
- Share
- 2.8%
- Avg. per client
- $48.5M
- Clients
- 6
- Regulatory AUM
- $774,889,478
- Share
- 7.6%
- Avg. per client
- $129.1M
- Clients
- 5
- Regulatory AUM
- $181,534,379
- Share
- 1.8%
- Avg. per client
- $36.3M
- Clients
- 26
- Regulatory AUM
- $279,574,536
- Share
- 2.7%
- Avg. per client
- $10.8M
Total
- Clients
- 1,270
- Regulatory AUM
- $10,239,765,232
- Share
- 100%
- Avg. per client
- $8.06M
What it does
Tocqueville Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. It is paid through a percentage of assets and performance-based fees.
Tocqueville Asset Management provided financial planning to 251–500 clients last fiscal year and advises 5 private funds.
91.0% of assets ($9.32B across 2,193 accounts) are managed with discretion; $922.9M across 121 accounts are not. $777.2M sits in a wrap fee program the firm both sponsors and manages. 4% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks75%
- Funds9%
- Bonds11%
- U.S. government and agency bonds6%
- Investment grade corporate bonds3%
- State and local bonds2%
- Cash5%
Custodians
Tocqueville Asset Management’s client accounts are held mainly at Pershing, with 48% of managed assets. Tocqueville Asset Management has custody of $2.44B for 283 clients.
- PershingPershing LLC · Jersey City, NJ · $4.92B48%
- All other custodians$5.32B52%
Ownership and leadership
Tocqueville Management Corp. owns 75% or more of Tocqueville Asset Management.
- Owns 75% or more of Tocqueville Asset Management LP
Tocqueville Management Corp.
Control person · since January 1990
- Owns 50% to 75% of Tocqueville Management Corp.
Robert Kleinschmidt
Control person · since January 2000
- Owns 10% to 25% of Tocqueville Asset Management LP
Robert W. Kleinschmidt Irrevocable Dynasty Trust
since November 2011
Lara Kleinschmidt
Trustee · since November 2011
Kim Kleinschmidt
Trustee · since January 2019
- Owns 10% to 25% of Tocqueville Asset Management LP
Robert W. Kleinschmidt
since November 2011
- Owns 10% to 25% of Tocqueville Asset Management LP
Alexander Kleinschmidt
since November 2011
- Owns 10% to 25% of Tocqueville Asset Management LP
Paul Kleinschmidt
since November 2011
- Owns 10% to 25% of Tocqueville Asset Management LP
Lara R. Kleinschmidt
since November 2011
- Owns 10% to 25% of Tocqueville Asset Management LP
Kim A Kleinschmidt
since January 2019
Leadership
- Paul KleinschmidtCEO & President of GP
- Scott SchlesingerChief Operating Officer and Vice President of GP
- Jeffrey ZatkowskyChief Financial Officer
- Kelsey GrahamChief Compliance Officer
- Robert KleinschmidtChairman of GP
- Alexander KleinschmidtTrustee
Staff
- 73 employees
- 35 in advisory functions
- 27 state-registered reps
- 33 broker-dealer reps
- 5 soliciting firms
Reported holdings
Tocqueville Asset Management’s reported 13F holdings total $7.56B across 557 positions, and the ten largest make up 24.7% of it.
- $7.56B
- Reported 13F value
- 557
- Positions
- 24.7%
- In the 10 largest
- +12.2%
- Value vs. prior quarter
- Home Depot Inc.3.9%
- Nvidia Corporation3.1%
- Applied Matls Inc.2.9%
- Alphabet Inc. · Cap Stk CL A2.7%
- Alphabet Inc. · Cap Stk CL C2.5%
- Microsoft Corp.2.2%
- Apple Inc.2.2%
- Amazon Com Inc.2.1%
- iShares Gold TR · iShares New1.5%
- Micron Technology Inc.1.4%
Together, the ten largest are 24.7% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $7.56B is not its $10.24B in regulatory assets and does not represent any individual client's portfolio.
Fees
Tocqueville Asset Management is paid through a percentage of assets under management and performance-based fees.
Tocqueville Asset Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Tocqueville Asset Management has 1 office, with 2 listed addresses across 2 states.
Florida · 1 listed address
- 2911 Cardinal Drive, Vero Beach
New York · 1 listed address
- 40 West 57th Street, 19th Floor, New YorkHQ
Registration details
- Legal name
- Tocqueville Asset Management LP
- Headquarters
- 40 West 57th Street, 19th Floor, New York, NY 10019
- Phone
- 212-698-0800
- Website
- www.tocqueville.com
- SEC file
- 801-36209
- Structure
- Delaware limited partnership
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Tocqueville Asset Management have?
Tocqueville Asset Management has 1,270 clients and manages $10.2 billion for them, as of March 2026. They include 741 high-net-worth individuals, 418 other individuals and 42 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does Tocqueville Asset Management offer?
Tocqueville Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Tocqueville Asset Management use?
Tocqueville Asset Management’s separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $4,915,443,260. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026
How many financial advisors does Tocqueville Asset Management have?
Tocqueville Asset Management has 27 investment adviser representatives registered with state securities authorities, out of 73 employees, and 35 perform investment advisory functions. 33 are registered representatives of a broker-dealer and 0 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Tocqueville Asset Management invest in?
At the end of its last fiscal year, Tocqueville Asset Management’s separately managed accounts held 75% exchange-traded equities, 9% registered funds (mutual funds, ETFs, BDCs), 6% U.S. government and agency bonds, 5% cash and equivalents, 3% investment grade corporate bonds and 2% state and local bonds. It advises 5 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Tocqueville Asset Management?
Tocqueville Asset Management is owned through a trust and a holding company by Robert Kleinschmidt. Its direct owners are Tocqueville Management Corp. (75% or more), Robert W. Kleinschmidt Irrevocable Dynasty Trust (10% to 25%), Robert W. Kleinschmidt (10% to 25%), Alexander Kleinschmidt (10% to 25%), Paul Kleinschmidt (10% to 25%), Lara R. Kleinschmidt (10% to 25%) and Kim A Kleinschmidt (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does Tocqueville Asset Management get paid?
Tocqueville Asset Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file