Wealth manager, independent · New York, NY
Tocqueville Asset Management LP
SEC-registered investment adviser · CRD 105690 · SEC 801-36209
At a glance
Tocqueville Asset Management LP is an SEC-registered investment adviser based in New York, New York, with $10B in regulatory assets under management as of its Form ADV filed March 31, 2026. It reports 1,159 individual clients, 741 of them high-net-worth, holding an average of about $4.9 million each, and 73 employees. That ranks it 95th among the nation’s 5,657 independent wealth management RIAs and 13th of 408 in New York. It reports BNY Pershing as the custodian for its clients’ separately managed accounts.
Main office 212-698-0800tocqueville.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $10B
- Rank among independent wealth managers
- #95 of 5,657
- Rank among all SEC RIAs
- #1,342 of 17,210
- Rank in New York
- #13 of 408
- Individual clients
- 1,159
- High-net-worth clients
- 741
- Accounts
- 2,314
- Discretionary
- 91% of AUM
- Employees
- 73
- Advisory staff
- 35
- Offices
- 2
Owners and executives on its Form ADV
- Robert W. KleinschmidtChairman of GP
- Alexander W. KleinschmidtTrustee
- Paul J KleinschmidtTrustee
- Kelsey D. GrahamChief Compliance Officer
- Scott I. SchlesingerChief Operating Officer and Vice President of GP
- Jeffrey L. ZatkowskyChief Financial Officer
- Paul J KleinschmidtCEO & President of GP
Custody and brokerage
Broker-dealer
Hybrid RIA
Tocqueville Asset Management LP is a hybrid RIA: 33 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Tocqueville Securities L.P..
- Tocqueville Securities L.P. ↗CRD 26001
An introducing broker-dealer: its trades clear through another firm, which holds the brokerage accounts. Its annual audited report filed with the SEC, March 2026
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 741 | $5.7B | 55% |
| Charitable organizations | 42 | $1.2B | 11% |
| Investment companies | 3 | $956M | 9% |
| Other investment advisers | 6 | $775M | 8% |
| Pension and profit sharing plans | 15 | $600M | 6% |
| State or municipal government entities | 6 | $291M | 3% |
| Corporations or other businesses | 26 | $280M | 3% |
| Pooled investment vehicles | 8 | $254M | 2% |
| Insurance companies | 5 | $182M | 2% |
| Individuals | 418 | $54M | <1% |
Private funds
Tocqueville Asset Management LP reports 5 private funds with $234M in gross assets: hedge funds, real estate funds, other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Tocqueville Asset Management LP reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Selecting other advisers
How it’s paid
- A percentage of assets under management
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗tocqueville.com ↗
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Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 396 peers of its type and size
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- 9 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in New York
All of New York →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Citizens Private WealthTarrytown | $17B | 2,465 |
| Evercore Wealth Management, LLCNew York | $16B | 731 |
| Williams Jones Wealth Management, LLCNew York | $12B | 1,517 |
| Ritholtz Wealth ManagementNew York | $9.4B | 4,139 |
| Joel Isaacson & Co., LLCNew York | $9.3B | 1,267 |
| Douglas C. Lane & AssociatesNew York | $8.4B | 1,084 |
Compare Tocqueville Asset Management LP with
- Tocqueville Asset Management LP vs Bartlett & Co. Wealth Management LLC $10B · Cincinnati, OH
- Tocqueville Asset Management LP vs Cary Street Partners $10B · Richmond, VA
- Tocqueville Asset Management LP vs Callan Family Office, LLC $10B · Radnor, PA
- Tocqueville Asset Management LP vs Foundations Investment Advisors LLC $10B · Phoenix, AZ
- Tocqueville Asset Management LP vs Ritholtz Wealth Management $9.4B · New York, NY
Background
Questions
How much does Tocqueville Asset Management LP manage?
Tocqueville Asset Management LP reports $10B in regulatory assets under management across 2,314 accounts, 91% of it on a discretionary basis, on its Form ADV filed March 31, 2026.
How many clients does Tocqueville Asset Management LP have?
It reports 1,159 individual clients: 741 high-net-worth individuals and 418 other individuals. Individuals account for about 56% of its regulatory assets.
Where is Tocqueville Asset Management LP headquartered?
Its main office is in New York, New York. It reports 2 offices in total and 73 employees, 35 of whom perform investment advisory functions.
How does Tocqueville Asset Management LP charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; performance-based fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Tocqueville Asset Management LP use?
It reports BNY Pershing as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed March 31, 2026, it reports these amounts held: BNY Pershing ($4.9B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Tocqueville Asset Management LP a hybrid RIA with a broker-dealer?
Tocqueville Asset Management LP is a hybrid RIA: 33 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Tocqueville Securities L.P.. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Tocqueville Asset Management LP a fiduciary?
As an SEC-registered investment adviser, Tocqueville Asset Management LP owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 33 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Tocqueville Asset Management LP’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-31), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →