Carnegie Investment Counsel Acquires $1.3B AUM Eagle Ridge Investment Management

The two leading advisory firms partner to expand services and deliver sophisticated, tailored investment solutions

CLEVELAND--(BUSINESS WIRE)-- Carnegie Investment Counsel (“Carnegie”), a Registered Investment Adviser (RIA) managing approximately $5 billion in assets as of December 31, 2024, is pleased to announce the acquisition of Eagle Ridge Investment Management, a highly respected advisory firm based in Stamford, CT. The acquisition, effective as of February 4, 2025, grows the firm’s AUM and personnel by over 25%, bringing in an additional $1.3 billion in AUM and integrating 14 experienced employees.

“We’re honored to welcome the team at Eagle Ridge to our organization,” says Richard Alt, CEO and Principal for Carnegie. “Carnegie has built a rich history of outstanding service and a commitment to developing a team of effective and experienced advisors. Growth has always been essential to our success, and this acquisition represents an exciting next step in our firm’s development. The experience and capabilities coming from the Eagle Ridge team will be a valuable asset as we foster our continued growth and expand our reach to new markets across the Northeast.”

Under the terms of the deal, Eagle Ridge’s leadership and full staff will remain in place. As the firms integrate, continuity of service is a priority, and operational consistency will be maintained. Clients of both firms will benefit from improved service offerings from the expansion of new talent and resources, prioritizing bespoke strategies that meet investors’ unique financial goals.

“Our dedication has always been about making client satisfaction a top priority,” says David Laidlaw, Managing Partner and Portfolio Manager for Eagle Ridge. “By joining forces with the premier team at Carnegie, we’re able to grow our resources and offerings to better serve those clients while maintaining the high-touch, personalized approach they have come to expect. Carnegie’s reputation for client service and accountability is in natural alignment with our mission, and we look forward to partnering with their established team.”

This strategic merging of these firms emboldens Carnegie’s ability to provide top-tier wealth management services while strengthening the firm’s presence in the greater New York metropolitan market. Eagle Ridge’s proven track record of personalized investment strategies and client-focused values demonstrate a shared commitment to Carnegie’s core principles, creating a seamless partnership.

Berkshire Global Advisors served as financial advisor, and Alston & Bird acted as legal counsel to Eagle Ridge Investment Management in the transaction. Carnegie Investment Counsel was advised by Schneider Smeltz Spieth Bell LLP as legal counsel.

About Carnegie Investment Counsel

Carnegie Investment Counsel (“Carnegie”), whose parent company was founded by Prescott, Ball & Turben, has been serving investors since 1974. Carnegie is a federally registered investment adviser under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply a certain level of skill or training. Carnegie’s strategies and the investment risks and advisory fees associated with each strategy can be found within Part 2A of the firm's Form ADV, which is available at www.adviserinfo.sec.gov.Carnegie is a fee-only Investment Adviser that is independently owned by its principals, with no obligations to deliver profits to outside shareholders. As a fiduciary, Carnegie seeks to place the client's best interest first.

For more information, call 800.321.2322 or visit www.carnegieinvest.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250206996343/en/

Klaudia Wierzbowska, Gregory FCA for Carnegie
570-856-1360
[email protected]

Source: Carnegie Investment Counsel

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