The Carnegie DifferenceThe Carnegie Difference: Clients for life. We understand our clients and their financial goals and we appreciate how to work with them as unique people with unique objectives.
Why choose Carnegie?
Our mission is to entirely understand our clients and keep them with peace of mind in that we are industry leaders working at all times in their best interest. We take our mission seriously and live by our firm’s principles – that hard work, accountability, responsibility and imaginative stewardship will result in prosperous and productive lives for our clients, their families and the community.
We are a SEC Registered Investment Advisor (RIA), legally bound by the fiduciary standard when serving clients. Meaning, our principles highly influence our daily decisions that ultimately impact the success of our clients, and we are always acting in the best interest of our clients.
We are exclusively fee-only. This means we never accept commissions for any investment we make, nor are we motivated by “soft-dollar” or hidden benefits.
By remaining independent, we stay true to our focus without the distractions of outside shareholders or sales of proprietary products. Our eyes on only on the success of our clients.
We recognize that each client is different, which is why we understand that customization is so important. We work closely with our clients to ensure that they have the right processes in place to satisfy their needs, and continuously evolve our relationships to align with the objectives of the client as they grow. Outside of physical meetings, we supply quarterly statements to our clients that include a personalized analysis of the portfolio, portfolio summary and appraisal, and a performance report. Our clients are always in the know of the health of their investments.
True or False?
Test your knowledge of this special class of advisors.
An RIA provides advice and services for a fee based on a percentage of the client’s assets.
This fee structure has its advantages. It’s simple and easy to understand, helping to avoid surprises. It also gives your advisor an incentive to grow your assets—when you succeed, your advisor succeeds. Carnegie relies on asset-based, hourly or flat fees: Many RIAs like ours charge a percentage of the assets we manage for you (typically 1%–2%). This compensation method rewards your advisor for growing your portfolio. Hourly or flat fees are often associated with a specific, one-time service (e.g., developing a financial plan). The fee may vary by account size and service. In addition to these fees, you may pay commissions and/or other fees for execution of the trades your advisor makes and for custody of your assets.
Many independent RIAs are owned by the individual advisors who run them.
Carnegie is an independent RIA, owned by the individual advisors who run the enterprise.
An RIA holds your stocks, funds, and assets.
As an RIA, Carnegie uses institutional custodians—generally large brokerage firms or banks—to hold and safeguard our clients’ stocks, mutual funds and other assets. These custodians also provide important infrastructure services such as executing trades and preparing monthly brokerage statements for clients. This helps us focus on understanding your needs and gives you direct visibility into where your money is held.
Most brokers can do what an RIA can do.
Many independent RIAs work with complex portfolios and address unique needs that require a highly customized level of investment management strategy and consultation.
An RIA sells different products than a broker.
Carnegie doesn’t sell any “products.” This is part of our fee-only compensation model, and it distinguishes us from wire house brokers and bank trust departments.
An RIA sells different products than a broker.
Carnegie can provide services that address a variety of complex investment needs that often arise when you accumulate significant wealth, such as assisting you with the sale of a business, complicated tax situations, trusts and intergenerational issues. Some of our advisors are specialists in certain investment strategies. Others can assist you with comprehensive services, such as estate planning or borrowing. Given the rich diversity of specialization throughout the industry, no matter how complex your individual needs, we can provide advice that’s right for you.
Gary’s Guide to Hiring a Financial Advisor
The investment industry has created a confusing and complex myriad of choices for you to consider. It can be a challenge to understand who has your best interest in mind. That said, finding a trusted and competent financial advisor can be one of the most rewarding aspects of investing.
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