For five years running (2016 to 2020), Carnegie Investment Counsel was a Financial Times "Top 300 Registered Investment Advisor." It's also on SmartAsset's top advisor list for Pepper Pike, Ohio, where the firm is headquartered, as well as the state of Ohio.
Carnegie Investment Counsel provides financial planning and portfolio management services. In addition to Pepper Pike, the fee-only firm has offices in Cincinnati and Toledo, Ohio; Ft. Myers, Florida; Los Angeles, California; New York, New York; and Philadelphia and Pittsburgh, Pennsylvania.
Carnegie Investment Counsel Background
Carnegie Investment Counsel became a registered investment advisor (RIA) in 2009. Gary P. Wagner and Richard L. Alt are the principal owners. The firm is the successor to Carnegie Capital Management Corp., which dates back to 1974.
Carnegie Investment Counsel Client Types and Minimum Account Sizes
Carnegie Investment Counsel provides investment management services and advice to the following types of clients:
- Individuals with and without a high net worth
- Nonprofit organizations
- Pension and profit-sharing plans
- Corporations and other business entities
- Independent trust companies
- Government entities
- Investment advisors
The firm requires a minimum $500,000 investment. But it may waive or lower the amount at its discretion.
Services Offered by Carnegie Investment Counsel
Carnegie Investment Counsel designs, constructs and regularly monitors investment portfolios tailored to the risk tolerance and financial goals of its clients. In some cases, the firm may direct clients to other investment managers outside Carnegie Investment Counsel.
Upon request, the firm can also provide financial planning advice on the following topics:
- Investments
- Retirement
- Cash flow projections
- Estate planning
- Insurance
- Education
- Employee benefits
- Family business continuation and general business consulting
- Financial planning advice incident to a divorce
Additionally, the firm provides consulting services to employee benefit plans such as 401(k) and pension plans.
Carnegie Investment Counsel Investing Philosophy
The firm aims for risk-adjusted returns for the long term. When evaluating securities, the firm engages in the following research methods:
- Charting analysis: Identifies patterns that may help project a favorable climate for buying or selling a certain security
- Fundamental analysis: Entails the examination of financial statements and other documents outlining the general financial health of companies, industries and the overall economy. The firm uses this method to unearth potential advantages and opportunities in the market.
- Technical analysis: Involves protecting potential price and volume movement by examining past trends.
Fees Under Carnegie Investment Counsel
Carnegie Investment Counsel charges an annual asset-based fee for its investment advisory services. These fees, which are generally paid quarterly and sometimes in arrears, follow the schedule, below:
| Carnegie Investment Counsel Investment Fees | |
| AUM | Annual Fees |
| Up to $500,000 | 1.75% or less |
| Over $500,000 | 1.50% or less |
Here's a breakdown of what you may expect to pay as a client of Carnegie:
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Investment Management Fees at Carnegie Investment Counsel* | |
| Your Assets | Carnegie Investment Counsel Annual Fee Amount |
| $250K | $4,375 or less |
| $500K | $8,750 or less |
| $750K | $11,250 or less |
| $1MM | $15,000 or less |
Fees for stand-alone financial planning or special projects are negotiable. Generally, they are charged on an hourly basis that will not exceed $300 per hour or as a flat fee that won't exceed $1,200.
What to Watch Out For
Carnegie Investment Counsel has no disclosures of legal or disciplinary actions on its latest Form ADV.
Opening an Account With Carnegie Investment Counsel
Prospective clients can schedule a phone consultation by calling (800) 321-2322. For an advisor to call you, submit your email on the firm's website.
All information was accurate as of the writing of this article.
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