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TheStreet Open House

Schwab IMPACT Awards® Honor Three Visionary RIA Firms

Stock quotes in this article: SCHW

Schwab Advisor Services announced today the winners of its 2012 IMPACT Awards ® for independent registered investment advisors (RIAs). Recipients include:

Winners were recognized during a ceremony at Schwab’s IMPACT ® 2012 conference, one of the nation’s largest and longest-running annual gatherings of independent investment advisors. Now in its seventh year, the awards program pays homage to those advisors and firms that have advanced the industry through their visionary leadership, innovative practices and exceptional growth. Profiles and videos of the winners are available online at http://impact.schwab.com/awards/winners.html

“This year’s winners represent a breed of advisors who demonstrate a similar philosophy of unwavering client service and support,” said Bernie Clark, executive vice president and head of Schwab Advisor Services. “We are recognizing the outstanding achievements of these three firms because of the important role that each of them has played in raising the visibility of the independent model and shaping the RIA segment.”

The 2012 IMPACT Awards winners were selected by a distinguished panel of judges, including Julie Littlechild, President of Advisor Impact; Sean R. Walters, Executive Director and CEO, Investment Management Consultants Association; Dr. Thomas R. Robinson, Managing Director, Education, CFA Institute. For the judges participation, Schwab makes a donation of $1,000 to each judges’ charity of choice.

BEST-IN-BUSINESS AWARD

Recipient of the Best-in-Business IMPACT Award, Foster Group, Inc. is an Iowa-based financial planning and investment advisory firm with more than $1.1 billion in assets under management. Founded in 1989 by Jerry Foster, the firm is committed to reducing the complexity of wealth management and financial planning, delivering straightforward financial solutions that form the foundation of their clients’ ongoing success. The firm serves more than 850 clients across 38 states and maintains a specialized focus on working with clients in the medical profession.

Since its founding, Foster Group has transitioned from a single owner to a shared partnership, allowing the firm’s eight shareholders to focus on building a sustainable and enduring enterprise. The firm has created and implemented the “Advisor Playbook,” providing in-person training and education for all employees on generating and securing new business. The program has been instrumental in growing Foster Group’s referral network by 170 percent in the past year, primarily through employee referrals. In conjunction with the firm’s commitment to maintaining long-term client relationships, this growth in referrals has kept the firm on pace to achieve its 2012 growth goal, supported by a 22 percent compound annual growth for the past five years.

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