A 30-year-old, PM-centric, contrarian value shop is building out both its distribution and its lineup.

Joseph A. Zock Tocqueville Asset Management Managing Director

Joseph Zock, managing director of Tocqueville Asset Management [profile], confirms that in the next six months the New York City-based, contrarian value mutual fund firm will probably launch two new mutual funds, both in the natural resources space. Meanwhile, Zock has been expanding the distribution team, and he's on the hunt to fill two more spots.

"We have made multiple strides in hiring people," Zock tells MFWire, pointing to recent additions of Max Rodriguez and Shirley Zhang, both as heads of regional institutional sales. And last year Zock hired Tom Coffey as head of national accounts.

Tocqueville already has three hybrid wholesalers and two internals.

"We are looking to add more hybrids" at Tocqueville's Midtown Manhattan headquarters, Zock says. "We'll probably double that over the next 18 months."

Tocqueville launched in 1985, yet the recent distribution and marketing expansion only started about four years ago. Zock says he got the job because he told the other partners "by the way, we have no marketing."

"I made the mistake of saying that at a partner's meeting," Zock says. "They all looked at me and said, 'That's great. You do it.'"

Zock has been moving Tocqueville away from the traditional external wholesaler model of distribution. He credits that shift in part to Tocqueville ramping its electronic communications-based marketing efforts.

"Advisors are not as interested as they used to be, whether it's lunch or after work, in spending time with wholesalers," Zock says. "People have become much more comfortable with electronic media ... There's less disconnect between the wholesaler and the end user."

The shift to a more hybrid approach, Zock says, has worked.

"It's really increasing our sales," Zock says. "I would rather have people on the phone calling than getting on a plane."

Zock describes Tocquville's growth as "slow and steady," and his team focuses their efforts not on the financial advisors in the corner offices.

"The mid-level FA has been very responsive," Zock says. "[And] RIAs have always been attracted to our clients." 

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