Wealth manager, independent · Pepper Pike, OH
Carnegie Investment Counsel
Carnegie Capital Asset Management, LLC · SEC-registered investment adviser · CRD 150488 · SEC 801-70242
At a glance
Carnegie Investment Counsel is an SEC-registered investment adviser based in Pepper Pike, Ohio, with $7.5B in regulatory assets under management as of its Form ADV filed July 9, 2026. It reports 3,056 individual clients, 1,186 of them high-net-worth, holding an average of about $2.0 million each, and 69 employees. That ranks it 144th among the nation’s 5,657 independent wealth management RIAs and 7th of 226 in Ohio. It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity.
Main office 216-367-4114carnegieinvest.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $7.5B
- Rank among independent wealth managers
- #144 of 5,657
- Rank among all SEC RIAs
- #1,625 of 17,210
- Rank in Ohio
- #7 of 226
- Individual clients
- 3,056
- High-net-worth clients
- 1,186
- Accounts
- 8,541
- Discretionary
- 90% of AUM
- Employees
- 69
- Advisory staff
- 39
- Offices
- 11
Owners and executives on its Form ADV
- Gary P. WagnerPresident/principal
- Richard L. AltChief Executive Officer/principal
- Ann Shigemura-HildebrandChief Compliance Officer
- Joseph M. SpidalieriChief Operating Officer
- John J. KnoxPrincipal, Director, Portfolio Manager
- BENJAMIN D. CONNARDPrincipal, Director, Portfolio Manager
- Michael B. OliverPrincipal, Director, Portfolio Manager
- David A. TillsonPrincipal, Director, Portfolio Manager
Custody and brokerage
Broker-dealer
No broker-dealer ties
Carnegie Investment Counsel reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 1,186 | $5.3B | 70% |
| Individuals | 1,870 | $876M | 12% |
| Corporations or other businesses | 129 | $670M | 9% |
| Charitable organizations | 77 | $404M | 5% |
| Other investment advisers | 6 | $188M | 3% |
| Pension and profit sharing plans | 13 | $76M | 1% |
| State or municipal government entities | – | $21M | <1% |
| Insurance companies | – | $3M | <1% |
Disciplinary disclosures
Carnegie Investment Counsel answers yes to 1 disclosure item in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for businesses and institutions
- Pension consulting
- Selecting other advisers
- Other services
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗carnegieinvest.com ↗
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Similar-size RIAs in Ohio
All of Ohio →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Johnson Investment Counsel, Inc.Cincinnati | $23B | 5,251 |
| Bartlett & Co. Wealth Management LLCCincinnati | $10B | 2,133 |
| OnesevenBeachwood | $7.7B | 15,787 |
| Truepoint, Inc.Cincinnati | $6.4B | 1,867 |
| TFO Wealth PartnersMaumee | $5.7B | 1,815 |
| Constellation Wealth AdvisorsCincinnati | $5.4B | 403 |
Background
Questions
How much does Carnegie Investment Counsel manage?
Carnegie Investment Counsel reports $7.5B in regulatory assets under management across 8,541 accounts, 90% of it on a discretionary basis, on its Form ADV filed July 9, 2026.
How many clients does Carnegie Investment Counsel have?
It reports 3,056 individual clients: 1,186 high-net-worth individuals and 1,870 other individuals. Individuals account for about 82% of its regulatory assets.
Where is Carnegie Investment Counsel headquartered?
Its main office is in Pepper Pike, Ohio. It reports 11 offices in total and 69 employees, 39 of whom perform investment advisory functions.
How does Carnegie Investment Counsel charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Carnegie Investment Counsel use?
It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity. On Schedule D of its Form ADV filed July 9, 2026, it reports these amounts held: Charles Schwab ($5.0B); Fidelity ($1.3B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Carnegie Investment Counsel a hybrid RIA with a broker-dealer?
Carnegie Investment Counsel reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Carnegie Investment Counsel a fiduciary?
As an SEC-registered investment adviser, Carnegie Investment Counsel owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. It reports no employees who are registered representatives of a broker-dealer.
Where these numbers come from
Every figure is Carnegie Investment Counsel’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 (2026-07-09), 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 →