Carter Financial Group provides financial planning, portfolio management for individuals and small businesses, and selecting other managers. Financial planning was provided to 1–10 clients last fiscal year.
Carter Financial Group reports 826 clients. They include 777 individual clients and 49 high-net-worth individuals. Of its assets, 86.8% ($332M across 1,655 accounts) are managed with discretion; $50.3M across 602 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 94% | 62% |
| High-net-worth individuals | 6% | 36% |
| Corporations and other businesses | 0% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 777 | $236M | 61.9% | $304K |
| High-net-worth individuals | 49 | $137M | 35.8% | $2.79M |
| Corporations and other businesses | Fewer than 5 | $8.92M | 2.3% | — |
| Total | 826 | $382M | 100% | — |
- Clients
- 777
- Regulatory AUM
- $236M
- AUM share
- 61.9%
- Avg. per client
- $304K
- Clients
- 49
- Regulatory AUM
- $137M
- AUM share
- 35.8%
- Avg. per client
- $2.79M
- Clients
- Fewer than 5
- Regulatory AUM
- $8.92M
- AUM share
- 2.3%
- Avg. per client
- —
Total
- Clients
- 826
- Regulatory AUM
- $382M
- 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
- 1–10
Carter Financial Group charges 1.00%–2.50% a year for its Investment Management Fee. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$250K | 2.50% |
| $250K–$500K | 2.30% |
| $500K–$1M | 1.75% |
| $1M–$5M | 1.50% |
| $5M–$10M | 1.25% |
| $10M and above | 1.00% |
Fee details and sources
Other fees
- Financial Planning
- Standalone financial planning is a fixed fee of $500 for the initial plan and $250 a year for continuing planning; free with at least $500,000 under management.
Kevin Carter owns 75% or more of Carter Financial Group. The leadership team of Carter Financial Group includes President Kevin Carter and Chief Compliance Officer Gery Sadzewicz. It has 9 employees, 6 of them in advisory roles.
Leadership
- Kevin CarterPresident
- Gery SadzewiczChief Compliance Officer
- Stephanie HaganMember
- Jennifer KarchMember
Investment adviser representatives
5 representatives listed in the SEC register as of 9 October 2026.
- Hannah Marie Carter
- Kevin Kenneth Carter
- Stephanie Leigh Hagan
- Jennifer Ann Karch
- Teri Linn Shaw
Staff
- 9 employees
- 6 in advisory functions
- 6 state-registered reps
- 2 broker-dealer reps
- 6 insurance agents
- Owns 75% or more of Carter Financial Group, Inc.
Kevin Carter
Control person · since October 2019
- Owns 5% to 10% of Carter Financial Group, Inc.
Stephanie Hagan
since October 2019
Carter Financial Group’s regulatory assets grew 1.8× from $208M (April 2021) to $382M (March 2026); clients rose from 648 to 826 and employees from 6 to 9.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $382M | 826 | 9 | 3 |
| February 2025 | $325M | 812 | 9 | 2 |
| May 2024 | $291M | 817 | 9 | 2 |
| June 2023 | $233M | 820 | 9 | 2 |
| July 2022 | $256M | 764 | 9 | 2 |
| April 2021 | $208M | 648 | 6 | 2 |
Besides its headquarters, Carter Financial Group has 2 offices (1 private residence, listed without an address), with 2 listed addresses in Illinois.
Illinois · 2 listed addresses
- 222 South Cook Street, BarringtonHQ
- 1802 N Division St., Morris
Other business names
Carter Financial Group has reported 1 other business name to the SEC.
- Shaw Financial Group
Contact and registration details
- Legal name
- Carter Financial Group, Inc.
- Headquarters
- 222 South Cook Street, Barrington, IL 60010
- Website
- carterfinancialgroup.com
- Phone
- 847-713-2700
- SEC file
- 801-118263
- Structure
- Illinois corporation
- Fiscal year end
- December
Carter Financial Group uses Charles Schwab ($317M) as custodian for its separately managed accounts. Carter Financial Group has custody of $118M in client assets for 345 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $317M100%
At year end, Carter Financial Group’s separately managed accounts were mostly in funds (65%) and stocks (27%). Its reported 13F holdings for the quarter ended 30 June 2026 total $193M across 134 positions; the largest are Berkshire Hathaway Inc. Del (10.8%), Invesco Exch Traded FD TR II (6.9%) and Dbx ETF TR (4.5%).
What the accounts hold
- Stocks27%
- Funds65%
- Bonds1%
- Cash5%
- Other3%
- Variable annuity3%
Reported 13F holdings
- $193M
- Reported 13F value
- 134
- Positions
- 47.2%
- In the 10 largest
- +19.3%
- Value vs. prior quarter
- Berkshire Hathaway Inc. Del · CL B New10.8%
- Invesco Exch Traded FD TR II · Nasdaq 100 ETF6.9%
- Dbx ETF TR · Xtrack MSCI Eafe4.5%
- Amplify ETF TR · Cwp Enhanced Div4.3%
- Innovator ETFS Trust · Defined Wlt Shld4.3%
- Amplify ETF TR · Block Techn ETF3.9%
- Tidal Trust Iii · Vist Arti IN ETF3.5%
- Apple Inc.3.4%
- Nvidia Corporation3.0%
- American Centy ETF TR · US Sml CP Valu2.6%
Together, the ten largest are 47.2% of reported value.
How many clients does Carter Financial Group have?
Carter Financial Group has 826 clients and manages $382 million for them, as of March 2026. They include 777 individual clients and 49 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 5 March 2026
What services does Carter Financial Group offer?
Carter Financial Group provides financial planning, portfolio management for individuals and small businesses, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Carter Financial Group charge?
Carter Financial Group charges 1.00%–2.50% a year for its Investment Management Fee. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable.
Source: CARTER FINANCIAL GROUP ADV PART 2A, filed 5 March 2026
Which custodians does Carter Financial Group use?
Carter Financial Group’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $317M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 5 March 2026
How many financial advisors does Carter Financial Group have?
Carter Financial Group has 6 investment adviser representatives registered with state securities authorities, out of 9 employees, and 6 perform investment advisory functions. 2 employees are registered representatives of a broker-dealer and 6 employees are 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 Carter Financial Group invest in?
At the end of its last fiscal year, Carter Financial Group’s separately managed accounts held 65% registered funds (mutual funds, ETFs, BDCs), 27% exchange-traded equities, 5% cash and equivalents, 3% other and 1% investment grade corporate bonds. The 3% other category is described as: Variable Annuity.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Carter Financial Group?
Carter Financial Group’s direct owners are Kevin Carter (75% or more) and Stephanie Hagan (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 5 March 2026
How does Carter Financial Group get paid?
Carter Financial Group is paid through a percentage of assets under management, fixed fees and commissions. Its Form ADV lists no 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 Carter Financial Group?
Carter Financial Group’s main office is at 222 South Cook Street, Barrington, IL 60010. Its phone number is 847-713-2700. Its website is carterfinancialgroup.com.