Carnegie Capital Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers. Financial planning was provided to 251–500 clients last fiscal year.
Carnegie Capital Asset Management reports 3,281 clients. They include 1,870 individual clients, 1,186 high-net-worth individuals, and 129 corporations and other businesses. Of its assets, 90.3% ($6.78B across 8,266 accounts) are managed with discretion; $732M across 275 accounts are not. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 57% | 12% |
| High-net-worth individuals | 36% | 70% |
| Pension and profit-sharing plans | <1% | 1% |
| Charitable organizations | 2% | 5% |
| State or municipal government entities | Fewer than 5 | <1% |
| Other client typesOther investment advisers; Insurance companies; Corporations and other businesses | 4% | 11% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 1,870 | $876M | 11.7% | $468K |
| High-net-worth individuals | 1,186 | $5.27B | 70.2% | $4.45M |
| Pension and profit-sharing plans | 13 | $76M | 1.0% | $5.85M |
| Charitable organizations | 77 | $404M | 5.4% | $5.25M |
| State or municipal government entities | Fewer than 5 | $21M | 0.3% | — |
| Other investment advisers | 6 | $188M | 2.5% | $31.4M |
| Insurance companies | Fewer than 5 | $3.09M | 0.0% | — |
| Corporations and other businesses | 129 | $670M | 8.9% | $5.2M |
| Total | 3,281 | $7.51B | 100% | — |
- Clients
- 1,870
- Regulatory AUM
- $876M
- AUM share
- 11.7%
- Avg. per client
- $468K
- Clients
- 1,186
- Regulatory AUM
- $5.27B
- AUM share
- 70.2%
- Avg. per client
- $4.45M
- Clients
- 13
- Regulatory AUM
- $76M
- AUM share
- 1.0%
- Avg. per client
- $5.85M
- Clients
- 77
- Regulatory AUM
- $404M
- AUM share
- 5.4%
- Avg. per client
- $5.25M
- Clients
- Fewer than 5
- Regulatory AUM
- $21M
- AUM share
- 0.3%
- Avg. per client
- —
- Clients
- 6
- Regulatory AUM
- $188M
- AUM share
- 2.5%
- Avg. per client
- $31.4M
- Clients
- Fewer than 5
- Regulatory AUM
- $3.09M
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- 129
- Regulatory AUM
- $670M
- AUM share
- 8.9%
- Avg. per client
- $5.2M
Total
- Clients
- 3,281
- Regulatory AUM
- $7.51B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Carnegie Capital Asset Management charges 1.50%–1.75% a year for its Investment Supervisory Services. The fee is billed in advance or in arrears and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning
- Financial planning is quoted as a fixed project fee or billed hourly at a negotiable rate not greater than $300 an hour.
Old Viking II Trust owns 50% to 75% of Carnegie Capital Asset Management and is in turn owned by Alt, Richard, Lee (50–75%). Richard Alt is CEO; the leadership team includes President Gary Wagner, Chief Operating Officer Joseph Spidalieri and Chief Compliance Officer Ann Shigemura-Hildebrand. It has 69 employees, 39 of them in advisory roles.
Leadership
Richard AltChief Executive Officer/Principal
Gary WagnerPresident/Principal
Joseph SpidalieriChief Operating Officer- Ann Shigemura-HildebrandChief Compliance Officer
Benjamin ConnardPrincipal, Director, Portfolio Manager
John KnoxPrincipal, Director
Michael OliverPrincipal, Director, Portfolio Manager
David TillsonPrincipal, Director, Portfolio Manager
Investment adviser representatives
37 representatives listed in the SEC register as of 9 October 2026.
- Shams Afzal
- Richard A Ahl JR
- William Robert Anderson
- Ryan L Applegate
- Brittany Nicole Blazey
- Robert Patrick Carroll MR.
- Jodi Sandler Cowgill
- Michael James Curry
- Steven J Daugherty
- Wendy Lynn Eldridge
- Linda Louise Fousek
- John Randall Frye
- Kimberly Martina Gannis
- Skye Garland
- Brendan Alexander Goldstein
- Margaret Ellen Halloran
- Gregory Walter Halter
- Alison J Hamilton
- Christopher Allen Henry
- Scott Raymond Inglis
- Arthur Gates Merriman III
- Lynn Renee Najman
- Douglas Seth Pease
- Maria Isabel R. Pedrosa
- Charles Andrew Robb
- Heidi Leann Rose
- Brandon Lee Thuott
- Peter Alfred Vandenbroeck
- Keith Allen Vargo
- Alejandro Miguel Velazquez
- Douglas Matthew Warzinski
Staff
- 69 employees
- 39 in advisory functions
- 42 state-registered reps
- 10 soliciting firms
- Owns 50% to 75% of Carnegie Capital Asset Management, LLC
Old Viking II Trust
Control person · since December 2023
- Owns 50% to 75% of Old Viking II Trust
Alt, Richard, Lee
Control person · since December 2023
- Owns 50% to 75% of Carnegie Capital Asset Management, LLC
David Tillson
since February 2025
- Owns 50% to 75% of Carnegie Capital Asset Management, LLC
Alexandra Tillson
since February 2025
- Owns 25% to 50% of Carnegie Capital Asset Management, LLC
Gary Wagner
Control person · since April 2009
Carnegie Capital Asset Management’s regulatory assets grew 2.6× from $2.94B (May 2021) to $7.51B (July 2026); clients rose from 2,281 to 3,281 and employees from 49 to 69. Between 2012 and 2017, 2 advisory firms joined it. The most recent was Midwest Investment Management, in December 2017.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| July 2026 | $7.51B | 3,281 | 69 | 11 |
| April 2025 | $6.52B | 3,159 | 70 | 10 |
| March 2024 | $4.52B | 2,767 | 58 | 9 |
| March 2023 | $3.47B | 2,624 | 54 | 9 |
| May 2022 | $3.98B | 2,424 | 53 | 8 |
| May 2021 | $2.94B | 2,281 | 49 | 8 |
Firms that joined
20171 joined
- Midwest Investment ManagementNo filed AUM
20121 joined
- Hurley Investment CounselNo filed AUM
Firms whose SEC withdrawal reports a sale to this firm, and deals reported in the press. Teams that moved without selling a registered firm may not appear.
Besides its headquarters, Carnegie Capital Asset Management has 10 offices, with 11 listed addresses across 6 states.
Ohio · 3 listed addresses
- 30300 Chagrin Boulevard, Pepper PikeHQ
- 2142 Alpine Place, Cincinnati
- 1701 Woodlands Drive, Maumee
Pennsylvania · 3 listed addresses
- 1845 Walnut Street, Philadelphia
- 1500 Ashwood Drive, Canonsburg
- 8050 Rowan RD., Cranberry Township
Florida · 2 listed addresses
- 6830 Porto Fino Circle, Fort Myers
- 427 S. New York Ave., Winter Park
California · 1 listed address
- 1875 Century Park E, Los Angeles
Connecticut · 1 listed address
- 4 High Ridge Park, Stamford
New York · 1 listed address
- 78 Main Street, Sag Harbor
Contact and registration details
- Legal name
- Carnegie Capital Asset Management, LLC
- Headquarters
- 30300 Chagrin Boulevard, Pepper Pike, OH 44124-5725
- Website
- carnegieinvest.com
- Phone
- 216-367-4114
- @carnegieinvest
- SEC file
- 801-70242
- Structure
- Ohio LLC
- Fiscal year end
- December
Carnegie Capital Asset Management uses Charles Schwab ($4.96B, 80%) and Fidelity ($1.25B, 20%) as custodians for its separately managed accounts. Carnegie Capital Asset Management has custody of $2.15B in client assets for 1,902 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $4.96B80%
- FidelityNational Financial Services LLC · Boston, MA · $1.25B20%
At year end, Carnegie Capital Asset Management’s separately managed accounts were mostly in stocks (63%) and funds (23%). Its reported 13F holdings for the quarter ended 30 June 2026 total $4.99B across 547 positions; the largest are Alphabet Inc. (3.8%), Apple Inc. (3.5%) and Microsoft Corp. (2.9%).
What the accounts hold
- Stocks63%
- Funds23%
- Bonds9%
- Investment grade corporate bonds5%
- U.S. government and agency bonds2%
- State and local bonds2%
- Cash5%
Reported 13F holdings
- $4.99B
- Reported 13F value
- 547
- Positions
- 24.6%
- In the 10 largest
- −2.7%
- Value vs. prior quarter
- Alphabet Inc. · Cap Stk CL A3.8%
- Apple Inc.3.5%
- Microsoft Corp.2.9%
- Broadcom Inc.2.6%
- JPMORGAN Chase & CO2.4%
- Nvidia Corporation2.2%
- Amazon Com Inc.2.1%
- Berkshire Hathaway Inc. Del · CL B New1.9%
- Applied Matls Inc.1.6%
- Meta Platforms Inc. · CL A1.6%
Together, the ten largest are 24.6% of reported value.
How many clients does Carnegie Capital Asset Management have?
Carnegie Capital Asset Management has 3,281 clients and manages $7.51 billion for them, as of July 2026. They include 1,870 individual clients, 1,186 high-net-worth individuals, and 129 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 9 July 2026
What services does Carnegie Capital Asset Management offer?
Carnegie Capital Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Carnegie Capital Asset Management charge?
Carnegie Capital Asset Management charges 1.50%–1.75% a year for its Investment Supervisory Services. The fee is billed in advance or in arrears and is negotiable.
Source: CARNEGIE INVESTMENT COUNSEL FORM ADV PART 2A DISCLOSURE BROCHURE 04-16-2026, filed 17 April 2026
Which custodians does Carnegie Capital Asset Management use?
Carnegie Capital Asset Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $4.96B and National Financial Services LLC (Boston, MA), with $1.25B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 July 2026
How many financial advisors does Carnegie Capital Asset Management have?
Carnegie Capital Asset Management has 42 investment adviser representatives registered with state securities authorities, out of 69 employees, and 39 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Carnegie Capital Asset Management invest in?
At the end of its last fiscal year, Carnegie Capital Asset Management’s separately managed accounts held 63% exchange-traded equities, 23% registered funds (mutual funds, ETFs, BDCs), 5% investment grade corporate bonds, 5% cash and equivalents, 2% U.S. government and agency bonds and 2% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Carnegie Capital Asset Management?
Carnegie Capital Asset Management is owned through a trust by Alt, Richard, Lee. Its direct owners are Gary Wagner (25% to 50%), Old Viking II Trust (50% to 75%), David Tillson (50% to 75%) and Alexandra Tillson (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 9 July 2026
How does Carnegie Capital Asset Management get paid?
Carnegie Capital Asset Management is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Carnegie Capital Asset Management?
Carnegie Capital Asset Management’s main office is at 30300 Chagrin Boulevard, Pepper Pike, OH 44124-5725. Its phone number is 216-367-4114. Its website is carnegieinvest.com.