Carnegie Wealth Management provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, and retirement plan services. Financial planning was provided to 11–25 clients last fiscal year.
Carnegie Wealth Management reports 229 clients. They include 133 individual clients, 93 high-net-worth individuals, and 3 pension and profit-sharing plans. Of its assets, 86.6% ($309M across 784 accounts) are managed with discretion; $47.9M across 135 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 58% | 21% |
| High-net-worth individuals | 41% | 75% |
| Pension and profit-sharing plans | 1% | 4% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 133 | $76.3M | 21.4% | $574K |
| High-net-worth individuals | 93 | $267M | 74.8% | $2.87M |
| Pension and profit-sharing plans | Fewer than 5 | $13.7M | 3.8% | $4.58M |
| Total | 229 | $357M | 100% | — |
- Clients
- 133
- Regulatory AUM
- $76.3M
- AUM share
- 21.4%
- Avg. per client
- $574K
- Clients
- 93
- Regulatory AUM
- $267M
- AUM share
- 74.8%
- Avg. per client
- $2.87M
- Clients
- Fewer than 5
- Regulatory AUM
- $13.7M
- AUM share
- 3.8%
- Avg. per client
- $4.58M
Total
- Clients
- 229
- Regulatory AUM
- $357M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
Carnegie Wealth Management charges 0.80%–1.25% a year for its Investment Management 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 Services
- Hourly engagements range up to $500 per hour, or a fixed fee based on the hours expected; fees may be negotiable.
So Farr Holdings, LLC owns 75% or more of Carnegie Wealth Management and is in turn owned by Scott Sheffer (75% or more). Scott Sheffer is CEO. It has 6 employees, 4 of them in advisory roles.
Leadership
- Scott ShefferChief Executive Officer and Chief Compliance Officer
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
- Amy Grace Abromaitis
- Scott Taylor Sheffer
Staff
- 6 employees
- 4 in advisory functions
- 2 state-registered reps
- 1 insurance agent
- Owns 75% or more of Carnegie Wealth Management, LLC
So Farr Holdings, LLC
Control person · since October 2017
- Owns 75% or more of So Farr Holdings, LLC
Scott Sheffer
Control person · since October 2017
Carnegie Wealth Management’s regulatory assets grew 2.5× from $145M (February 2021) to $357M (January 2026); clients fell from 303 to 229 and employees rose from 4 to 6. In 2022, Covered Bridge Advisors ($124M in its last filing) joined it.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| January 2026 | $357M | 229 | 6 | 2 |
| January 2025 | $334M | 255 | 6 | 2 |
| July 2024 | $304M | 259 | 6 | 2 |
| June 2023 | $214M | 268 | 6 | 2 |
| May 2022 | $155M | 117 | 8 | 1 |
| February 2021 | $145M | 303 | 4 | 1 |
Firms that joined
20221 joined
- Covered Bridge AdvisorsLast filed AUM $124M
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 Wealth Management has 1 office, with 2 listed addresses in Pennsylvania.
Pennsylvania · 2 listed addresses
- 850 Cassatt Road, Suite 225, BerwynHQ
- 1790 Yardley-Langhorne Road, Yardley
Contact and registration details
- Legal name
- Carnegie Wealth Management, LLC
- Headquarters
- 850 Cassatt Road, Suite 225, Berwyn, PA 19312
- Website
- carnegiewealth.com
- Phone
- 610-640-4300
- @8431836
- SEC file
- 801-114906
- Founded
- 2017
- Structure
- Pennsylvania LLC
- Fiscal year end
- December
Carnegie Wealth Management uses Charles Schwab ($334M) as custodian for its separately managed accounts. Carnegie Wealth Management does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $334M100%
At year end, Carnegie Wealth Management’s separately managed accounts were mostly in stocks (52%) and bonds (27%).
What the accounts hold
- Stocks52%
- Funds20%
- Registered funds17%
- Pooled vehicles3%
- Bonds27%
- State and local bonds15%
- Investment grade corporate bonds11%
- Sovereign bonds1%
- Cash1%
How many clients does Carnegie Wealth Management have?
Carnegie Wealth Management has 229 clients and manages $357 million for them, as of January 2026. They include 133 individual clients, 93 high-net-worth individuals, and 3 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 20 January 2026
What services does Carnegie Wealth Management offer?
Carnegie Wealth Management provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, and retirement plan services.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Carnegie Wealth Management charge?
Carnegie Wealth Management charges 0.80%–1.25% a year for its Investment Management Services. The fee is billed in advance or in arrears and is negotiable.
Which custodians does Carnegie Wealth Management use?
Carnegie Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $334M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 20 January 2026
How many financial advisors does Carnegie Wealth Management have?
Carnegie Wealth Management has 2 investment adviser representatives registered with state securities authorities, out of 6 employees, and 4 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 1 employee is a licensed insurance agent.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Carnegie Wealth Management invest in?
At the end of its last fiscal year, Carnegie Wealth Management’s separately managed accounts held 52% exchange-traded equities, 17% registered funds (mutual funds, ETFs, BDCs), 15% state and local bonds, 11% investment grade corporate bonds, 3% pooled vehicles (private funds and similar), 1% sovereign bonds and 1% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Carnegie Wealth Management?
Carnegie Wealth Management is owned through a holding company by Scott Sheffer. Its direct owner is So Farr Holdings, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 20 January 2026
How does Carnegie Wealth Management get paid?
Carnegie Wealth Management is paid through a percentage of assets under management 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
Is Carnegie Wealth Management registered with the SEC?
Yes, Carnegie Wealth Management has been registered with the SEC as an investment adviser since 26 March 2019. Its CRD number is 290430 and its SEC file number is 801-114906.
Source: Form ADV Part 1A, Item 1, filed 20 January 2026; IAPD firm record
How do I contact Carnegie Wealth Management?
Carnegie Wealth Management’s main office is at 850 Cassatt Road, Suite 225, Berwyn, PA 19312. Its phone number is 610-640-4300. Its website is carnegiewealth.com.