Carnegie Investment Counsel
Registered investment adviser · Pepper Pike, OH · CRD #150488
Form ADV data as of 2026-09-01Regulatory assets
$7.51 billion
Total accounts
8,541
Employees
69
Disclosure events
1
Firm details
- Website: https://www.carroll-financial.com
- Telephone: 216-367-4114
- SEC file number: 801-70242
- Most recent Form ADV filing: 2026-07-09
- SEC record: View this firm on the SEC's IAPD site
Disciplinary disclosures
This firm reports 1 disclosure question answered Yes, covering 1 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.
- A court found involvement in a violation of investment-related statutes or regulations
Assets and accounts
| Provides continuous and regular supervisory or management services | Yes |
| Discretionary regulatory assets under management | $6.78 billion |
| Non-discretionary regulatory assets under management | $732.0 million |
| Total regulatory assets under management | $7.51 billion |
| Discretionary accounts | 8,266 |
| Non-discretionary accounts | 275 |
| Total accounts | 8,541 |
| Regulatory assets under management attributable to non-U.S. persons | $25.0 million |
People
| Total employees (excluding clerical) | 69 |
| Employees performing investment advisory functions (including research) | 39 |
| Employees who are registered representatives of a broker-dealer | 0 |
| Employees registered as investment adviser representatives with a state | 42 |
| Employees registered as IARs for another investment adviser | 1 |
| Employees who are licensed insurance agents | 0 |
| Firms or persons who solicit advisory clients on the firm's behalf | 10 |
Custody
| Has custody of client cash or bank accounts | Yes |
| Has custody of client securities | Yes |
| Client funds and securities held in the firm's custody | $2.15 billion |
| Clients for whom the firm has custody | 1,902 |
| A related person has custody of client cash or bank accounts | Yes |
| A related person has custody of client securities | Yes |
| Client funds and securities held in a related person's custody | $8.2 million |
| Clients for whom a related person has custody | 10 |
| The firm acts as a qualified custodian | No |
| A related person acts as a qualified custodian | No |
| Number of persons acting as qualified custodians for the firm's clients | 1 |
How the firm is compensated
Advisory services offered
Affiliated related persons
Reported conflicts of interest
Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:
- Buys or sells for itself securities it also recommends to clients
- Recommends brokers or dealers to clients
- Receives soft dollar benefits
- Compensates a non-employee for client referrals
- Provides employee compensation specifically for obtaining clients
Client types
| Type of client | Clients | Assets |
|---|---|---|
| Individuals (other than high net worth individuals) | 1,870 | $876.0 million |
| High net worth individuals | 1,186 | $5.27 billion |
| Pension and profit sharing plans (not the participants or government plans) | 13 | $76.0 million |
| Charitable organizations | 77 | $404.4 million |
| State or municipal government entities (including government pension plans) | Not reported | $21.0 million |
| Other investment advisers | 6 | $188.2 million |
| Insurance companies | Not reported | $3.1 million |
| Corporations or other businesses not listed above | 129 | $670.3 million |