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.
FINRA's proposed rule filing would create a new 10-day fraud delay and nearly triple the maximum hold period for exploited senior investors
Fueled by a recent shot in the arm from private equity firm Carlyle, MAI adds a $490 million Atlanta RIA as it keeps building out its national footprint.
“Todd Burkhalter organized what is likely the largest Ponzi scheme in Georgia history,” said one FBI official.
With experience from Goldman Sachs and TD Ameritrade, the RIA's newest SVP hire adds to a recent wave of executive departures from hybrid Osaic.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
