Charles Schwab executives presented Impact Awards to three advisor firms and their leaders on Thursday as part of the company’s annual Impact conference taking place in San Francisco. The company also donated $45,000 to charity on behalf of the recognized advisors.
(The Impact Award winners for 2012 will be announced during Schwab Impact 2012 conference in Chicago on Thursday morning, Nov. 14, 2012.)
“This year’s Impact Award winners raise the bar for excellence in client service and exemplary business practices for the independent RIA industry,” said Bernie Clark, executive vice president and head of Schwab Advisor Services, at the event. “We commend them for their dedication to investors, the industry and their communities, and we thank them for providing a learning opportunity for other advisors by sharing their best practices and achievements.”
Richard Stone, CEO of San Rafael, Calif.-based Private Ocean received the Leadership Award for his role in helping the International Association of Financial Planners draft a code of ethics for the industry, according to Schwab. Walt Bettinger, CEO and president of Schwab, joined Clark to hand out the award. Stone’s firm has about $700 million in assets under management. In addition to serving on the board of several Bay Area universities, Stone also created a scholarship program to support disadvantaged students seeking a college education.
Schwab presented its Best-in-Business Award to Budros, Ruhlin & Roe of Columbus, Ohio, for its excellence in business management.
The firm was founded by Jim Budros and Peggy Ruhlin based on their commitment of the concept of fee-only financial advisory work. The firm manages more than $1.5 billion in assets, and its best practices include dedicating substantial resources to technology: hardware, software and the development of a team of IT professionals.
Schwab presented its Pacesetter Award to Green Square Capital of Memphis, Tenn., which manages more than $1 billion. The team grew 30% last year and has instituted a policy of “client delight.”
On behalf of Stone, Schwab made a $25,000 donation to 10,000 Degrees and Dominican University. Schwab made a $10,000 donation to the Budros, Ruhlin & Roe Fund at the Columbus Foundation and contributed $10,000 to the Make-A-Wish Foundation of the MidSouth on behalf of Green Square Capital.
The 2011 Impact Award winners were selected from a pool of nearly 7,000 independent investment advisory firms by a 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 of education, CFA Institute.