The Partnership Grows Carnegie’s AUM to Over $7 Billion, Strengthening National Client Service Capabilities

CLEVELAND--(BUSINESS WIRE)--

Carnegie Investment Counsel (“Carnegie”), an independently owned Registered Investment Adviser (RIA) with $7B in assets under management, is pleased to announce the acquisition of AHL Investment Management, a Florida-based wealth management firm with approximately $220 million in assets under management, led by Founder and Owner Rick Ahl. The acquisition, effective as of October 1st, broadens the Ohio based firm’s national presence and deepens its footprint in the high-growth Florida market.

“Welcoming AHL Investment Management to the Carnegie family is an exciting step forward in our 50-year journey of growth and mission driven wealth management”, said Richard Alt, CEO and Principal of Carnegie. “Rick and his team join our firm not only with valuable expertise and trusted client relationships, but also a culture and financial planning philosophy that mirrors our own. This alignment in values strengthens the foundations of our firm for long term success.”

AHL Investment Management bears a strong reputation for delivering specialized, client-first investment solutions. Their local presence and a deep-rooted client base of individuals and nonprofits is an opportunity to collaborate under a shared vision of personalized and transparent financial guidance. AHL’s two-person team will fully integrate with Carnegie, equipping them with its robust technology stack, operational infrastructure, and deep resources.

“Joining Carnegie gives us the tools and support to elevate the way we serve our clients,” said Ahl. “Since founding 26 years ago, AHL has been built from the ground up, and I’m incredibly proud of the relationships we’ve fostered and the trust our clients have placed in us. This next chapter with Carnegie will allow us to develop our service capabilities, while also maintaining the high-touch, values-driven approach that has defined our firm.”

This strategic partnership underscores Carnegie’s focus on thoughtful expansion into key growth markets and welcoming in exceptional talent to help clients grow and protect their wealth. Earlier this year, the firm also acquired $1.3B RIA Eagle Ridge Investment Management.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251014586127/en/

Source: Carnegie Investment Counsel