New York based wealth management firm Tocqueville Asset Management has acquired a $1.3 billion AUM investment firm to expand its capabilities in the advisory space.
As part of the 40-year-old firm’s strategic growth plan to acquire high caliber teams to boost its research and investment talent, it has picked up the advisory team at Poplar Forest Capital, a firm founded in 2007 by Capital Group alumnus Dale Harvey.
Harvey will join Tocqueville as a member of its management committee and become a shareholder.
“Joining Tocqueville provides immediate and significant benefits for our clients,” said Dale Harvey, CEO and Founder of Poplar Forest Capital. “Tocqueville’s robust institutional research platform, personalized client service process, enhanced technology infrastructure, and experienced management team will allow us to deliver even greater value for clients. We are excited about the opportunities this partnership creates.”
Tocqueville delivers financial advice and services to individuals, families, and institutions worldwide and is an independently owned partnership, led by CEO Paul Kleinschmid who said the acquisition of Poplar Forest Capital is a significant step in the firm’s growth strategy.
“Tocqueville has a long history of attracting entrepreneurial investment professionals who share our healthy skepticism of fashionable investment trends and a dedication to bottom-up, absolute return-oriented portfolio construction. Dale’s team embodies this ethos and expands our investment capabilities. We are thrilled to welcome them into the Tocqueville family.”
Terms of the transaction were not disclosed.
Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.
The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.
“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.
Wealth tech veteran Aaron Klein speaks out against the "misery" of client meetings, why advisors' communication skills don't always help, and AI's potential to make bad meetings "100 times better."
The proposed $120 million settlement would close the book on a legal challenge alleging the Wall Street banks failed to disclose crucial conflicts of interest to investors.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
