Carnegie Investment Counsel Strengthens Executive Leadership With Key Organizational Changes, Welcomes Joe Spidalieri to Serve as Chief Operating Officer

Alongside Spidalieri's Hire, Carnegie Names Richard Alt as Chief Executive Officer and Gary Wagner as President, Setting the Stage for 2024 Growth Initiatives

CLEVELAND, Nov. 15, 2023 /PRNewswire/ -- Carnegie Investment Counsel ("Carnegie"), a leading privately owned Registered Investment Adviser (RIA) with over $3.8B in assets under management, is pleased to announce the addition of Joe Spidalieri as the firm's new Chief Operating Officer. Spidalieri's rich experience in the financial and wealth management space will play a pivotal role in supporting Carnegie's core growth goals and ensuring operational excellence.

In step with Spidalieri's appointment to COO, Carnegie has appointed Richard Alt to CEO and Gary Wagner to President. These internal leadership changes underscore the firm's dedication to both long-term organizational growth and the continued delivery of exceptional service to our clients. The new roles align Alt and Wagner's focus with Carnegie's objectives for growth in 2024 and beyond.

"Carnegie is renowned within the industry for their client-oriented values and impressive track record," says Spidalieri. "I'm excited to join this prestigious team and work to enhance the operations and deliver an unparalleled client experience. I look forward to the opportunity to apply my knowledge and collaborate with the team to accelerate Carnegie's growth in order to achieve new milestones for the firm."

Spidalieri brings with him over two decades of industry experience, most recently acting as Chief Operating Officer for Ancora. There, Spidalieri oversaw the firm's operations across its various divisions, bringing with him expertise in technology, trading, sales support, and compliance. Prior to joining Ancora, Spidalieri was a key player in American Express' Finance and Money Management division. Spidalieri earned a Bachelor of Science degree with majors in Finance & Marketing and a minor in Business Legal Studies from Miami University as well as an MBA from Case Western Reserve University's Weatherhead School of Management.

"We're pleased to welcome another distinguished industry leader to our team with the addition of Joe Spidalieri as COO," says Alt. "Joe's extensive experience and notable successes in the financial services industry make him a valuable addition to Carnegie's ranks. As we continue to enhance our business, Joe's leadership and innovative thinking will be instrumental in driving our firm forward and exceeding our ambitions for 2024 and beyond."

The reorganization of Carnegie's leadership comes at a pivotal time for Carnegie's long term growth planning. Over the last decade, the firm has seen a steady increase in assets under management, growing from $500 million in 2012 to over $3.8B AUM. Over this time frame, the firm has grown from 14 employees to 56 employees, completed 12+ acquisitions and now boasts nine offices across five states. Looking ahead to 2024, the firm is taking strategic initiatives to continue growth, both organic and partner based, while also engaging in thoughtful M&A within the RIA industry.

This significant growth is testament to Carnegie's client focused mission. Through the firm's nine locations across the U.S., Carnegie's advisors are committed to serving their diverse array of clients to empower them to meet their financial goals and live more prosperous lives.

About Carnegie Investment Counsel

Carnegie Investment Counsel ("Carnegie") has been serving investors since 1974, founded by Prescott, Ball & Turben. 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, 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.

Contact:
Klaudia Wierzbowska, Gregory FCA for Carnegie
570-856-1360
klaudia@gregoryfca.com

SOURCE Carnegie Investment Counsel