McKinley Carter Wealth Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, education planning, estate planning, insurance, philanthropic planning, and tax planning. Financial planning was provided to 2,000 clients last fiscal year.
McKinley Carter Wealth Services reports 1,282 clients. They include 659 high-net-worth individuals, 572 individual clients and 38 charitable organizations. Of its assets, 97.2% ($2.24B across 3,827 accounts) are managed with discretion; $65.5M across 167 accounts are not. Of its clients, 1% are outside the U.S. It advised 8 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 45% | 9% |
| High-net-worth individuals | 51% | 86% |
| Pension and profit-sharing plans | <1% | <1% |
| Charitable organizations | 3% | 3% |
| State or municipal government entities | <1% | <1% |
| Other client typesCorporations and other businesses | <1% | 1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 572 | $208M | 9.0% | $364K |
| High-net-worth individuals | 659 | $1.98B | 86.0% | $3.01M |
| Pension and profit-sharing plans | Fewer than 5 | $8.49M | 0.4% | $4.24M |
| Charitable organizations | 38 | $74.5M | 3.2% | $1.96M |
| State or municipal government entities | Fewer than 5 | $1.02M | 0.0% | $1.02M |
| Corporations and other businesses | 10 | $30.3M | 1.3% | $3.03M |
| Total | 1,282 | $2.31B | 100% | — |
- Clients
- 572
- Regulatory AUM
- $208M
- AUM share
- 9.0%
- Avg. per client
- $364K
- Clients
- 659
- Regulatory AUM
- $1.98B
- AUM share
- 86.0%
- Avg. per client
- $3.01M
- Clients
- Fewer than 5
- Regulatory AUM
- $8.49M
- AUM share
- 0.4%
- Avg. per client
- $4.24M
- Clients
- 38
- Regulatory AUM
- $74.5M
- AUM share
- 3.2%
- Avg. per client
- $1.96M
- Clients
- Fewer than 5
- Regulatory AUM
- $1.02M
- AUM share
- 0.0%
- Avg. per client
- $1.02M
- Clients
- 10
- Regulatory AUM
- $30.3M
- AUM share
- 1.3%
- Avg. per client
- $3.03M
Total
- Clients
- 1,282
- Regulatory AUM
- $2.31B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 8
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 2000
McKinley Carter Wealth Services charges 0.40%–1.25% a year for its Wealth Management Fees. The fee is billed in arrears, is negotiable and has a $9,750 annual minimum. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning and Consulting
- Financial planning and consulting are billed on a negotiable fixed fee, generally $350 to $10,000, or hourly at $50 to $500.
David McKinley owns 50% to 75% of McKinley Carter Wealth Services. David McKinley is CEO; the leadership team includes Chief Investment Officer David Nolan and Chief Compliance Officer John Binz. It has 32 employees, 27 of them in advisory roles.
Leadership
- David McKinleyPresident, Managing Director, Chief Executive Officer
- John BinzChief Compliance Officer
- Brian GongawareDirector of Growth
- David NolanChief Investment Officer
- Lori PayneChief Administrative Officer
- Tyrone PhillippiDirector of Wealth
- Meredith TrischlerController
Investment adviser representatives
25 representatives listed in the SEC register as of 9 October 2026.
- John James Binz
- Julie A Brown
- Christopher Jay Buck
- William Walden Carter
- Chelsea Lynn Clegg
- Arthur Lawrence Crimmins JR
- Matthew Thomas Epling
- Jack Fuentes
- Nicole Lynn Gabriel
- Brian Tyrone Gongaware
- Joshua Mark Johnson
- David Holman McKinley
- Teresa E Michaels
- Frank Ray Neiderhiser
- David Payne Nolan
- James Michael O'Brien II
- Tyrone Conway Phillippi
- John Tompkins Slicer
- Suzette Marlene Smith
- Nicholas Michael Stebner
- Sandra Marie Steedle
- Jeffrey Stenhouse
- Steven Andrew Tardy
- David Paul Wilcox II
- John Howard Williams
Staff
- 32 employees
- 27 in advisory functions
- 27 state-registered reps
- 2 soliciting firms
- Owns 50% to 75% of McKinley Carter Wealth Services, Inc.
David McKinley
Control person · since September 2005
- Owns 10% to 25% of McKinley Carter Wealth Services, Inc.
Brian Gongaware
Control person · since April 2009
- Owns 5% to 10% of McKinley Carter Wealth Services, Inc.
Tyrone Phillippi
Control person · since September 2020
McKinley Carter Wealth Services’ regulatory assets grew from $1.81B (June 2021) to $2.31B (March 2026); clients fell from 1,694 to 1,282 and employees from 51 to 32. Between 2008 and 2020, 4 advisory firms joined it. The most recent was Lifeplan Financial Group, in December 2020.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $2.31B | 1,282 | 32 | 5 |
| March 2025 | $2.53B | 1,861 | 51 | 7 |
| March 2024 | $2.26B | 1,842 | 48 | 7 |
| March 2023 | $1.9B | 1,843 | 56 | 7 |
| March 2022 | $2.09B | 1,590 | 53 | 7 |
| June 2021 | $1.81B | 1,694 | 51 | 7 |
Firms that joined
20201 joined
- Lifeplan Financial GroupNo filed AUM
20141 joined
- Yellowwood Financial AdvisorsNo filed AUM
20091 joined
- Networth Investment AdvisorsNo filed AUM
20081 joined
- Kanawha Investment & TrustNo 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, McKinley Carter Wealth Services has 4 offices (1 private residence, listed without an address), with 4 listed addresses in Ohio, Pennsylvania and West Virginia.
West Virginia · 2 listed addresses
- 2100 Market Street, WheelingHQ
- 129 Summers Street, Charleston
Ohio · 1 listed address
- 10050 Innovation Drive, Dayton
Pennsylvania · 1 listed address
- 100 Bradford Road, Wexford
Contact and registration details
- Legal name
- McKinley Carter Wealth Services, Inc.
- Headquarters
- 2100 Market Street, Wheeling, WV 26003
- Website
- mckinleycarter.com
- Phone
- 304-230-2400
- View profile
- SEC file
- 801-64584
- Founded
- 2005
- Structure
- West Virginia corporation
- Fiscal year end
- December
McKinley Carter Wealth Services uses Fidelity ($1.12B, 50%) and Charles Schwab ($1.11B, 50%) as custodians for its separately managed accounts. McKinley Carter Wealth Services has custody of $736M in client assets for 474 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Cincinnati, OH · $1.11B50%
- FidelityFidelity Distributors Company LLC · Covington, KY · $1.12B50%
At year end, McKinley Carter Wealth Services’ separately managed accounts were mostly in funds (72%) and stocks (22%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.94B across 322 positions; the largest are Dimensional ETF Trust (7.7%), iShares TR (6.6%) and Fidelity Merrimack Str TR (5.7%).
What the accounts hold
- Stocks22%
- Funds72%
- Bonds1%
- Cash4%
- Other1%
- Assets held outside of primary custodians comprised of annuities, mutual funds, equity, fixed income and cash.1%
Reported 13F holdings
- $1.94B
- Reported 13F value
- 322
- Positions
- 41.4%
- In the 10 largest
- +11.8%
- Value vs. prior quarter
- Dimensional ETF Trust · Intl Core EQT MK7.7%
- iShares TR · Core S&P500 ETF6.6%
- Fidelity Merrimack Str TR · Total BD ETF5.7%
- iShares TR · Rus 1000 ETF5.3%
- Dimensional ETF Trust · Emgr Cre EQT Mng4.8%
- iShares TR · Core US Aggbd ET3.3%
- Vanguard Star Fds · VG TL Intl Stk F2.3%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt2.0%
- iShares TR · S&P 500 Val ETF1.9%
- iShares TR · Core MSCI Eafe1.8%
Together, the ten largest are 41.4% of reported value.
How many clients does McKinley Carter Wealth Services have?
McKinley Carter Wealth Services has 1,282 clients and manages $2.31 billion for them, as of March 2026. They include 659 high-net-worth individuals, 572 individual clients and 38 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 23 March 2026
What services does McKinley Carter Wealth Services offer?
McKinley Carter Wealth Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, education planning, estate planning, insurance, philanthropic planning, and tax planning.
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 McKinley Carter Wealth Services charge?
McKinley Carter Wealth Services charges 0.40%–1.25% a year for its Wealth Management Fees. The fee is billed in arrears, is negotiable and has a $9,750 annual minimum.
Which custodians does McKinley Carter Wealth Services use?
McKinley Carter Wealth Services’ separately managed account assets are held at Fidelity Distributors Company LLC (Covington, KY), with $1.12B and Charles Schwab & Co., Inc. (Cincinnati, OH), with $1.11B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 23 March 2026
How many financial advisors does McKinley Carter Wealth Services have?
McKinley Carter Wealth Services has 27 investment adviser representatives registered with state securities authorities, out of 32 employees, and 27 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 McKinley Carter Wealth Services invest in?
At the end of its last fiscal year, McKinley Carter Wealth Services’ separately managed accounts held 72% registered funds (mutual funds, ETFs, BDCs), 22% exchange-traded equities, 4% cash and equivalents, 1% investment grade corporate bonds and 1% other. The 1% other category is described as: Assets Held Outside of Primary Custodians Comprised of Annuities, Mutual Funds, Equity, Fixed Income and Cash.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns McKinley Carter Wealth Services?
McKinley Carter Wealth Services’ direct owners are David McKinley (50% to 75%), Brian Gongaware (10% to 25%) and Tyrone Phillippi (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 23 March 2026
How does McKinley Carter Wealth Services get paid?
McKinley Carter Wealth Services 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
Is McKinley Carter Wealth Services registered with the SEC?
Yes, McKinley Carter Wealth Services has been registered with the SEC as an investment adviser since 4 August 2005. Its CRD number is 135184 and its SEC file number is 801-64584.
Source: Form ADV Part 1A, Item 1, filed 23 March 2026; IAPD firm record
How do I contact McKinley Carter Wealth Services?
McKinley Carter Wealth Services’ main office is at 2100 Market Street, Wheeling, WV 26003. Its phone number is 304-230-2400. Its website is mckinleycarter.com.