New Pacesetter Award for Independent Advisors to Debut
SAN FRANCISCO, April 2 /PRNewswire-FirstCall/ -- Building on a
successful program debut in 2006, Schwab Institutional, a leading provider
of custodial, operational and trading support for more than 5,000
independent investment advisors, today began the call for nominations for
its second annual IMPACT Awards(TM), an industry-wide awards program that
honors independent advisors and firms. SEC-registered advisors who meet the
eligibility guidelines are encouraged to participate - regardless of their
custodial relationships. Nominations will be accepted April 2 through June
1, 2007 at http://impactawards.schwab.com.
This year's IMPACT Awards program, which recognizes those who have
advanced the independent investment advisory industry through their
visionary leadership, operational excellence and technology innovation,
will feature a new category, the Pacesetter Award, for an "up-and-coming"
advisor. The Pacesetter Award will recognize an emerging, fast-growing
independent investment advisory firm for accelerated growth and excellence
in all aspects of their business.
"We know that advisors today place a tremendous amount of emphasis on
growth," said Deborah Doyle McWhinney, president of Schwab Institutional.
"We added the Pacesetter Award to the IMPACT Awards program to recognize
the significant strides advisors are taking in terms of both planning for
and achieving growth and to highlight the entrepreneurial spirit that is at
the heart of how these advisors run their businesses."
Accounting and consulting firm Moss Adams LLP will score all entries
and select the finalists. A distinguished panel of judges from across the
business world and financial services industry will select the winners in
each of four IMPACT Awards categories with final approval by Schwab
Institutional:
-- A special award, The Charles R. Schwab IMPACT Award(TM), will honor
an individual trailblazer whose sustained vision, outstanding leadership,
client commitment and community engagement clearly demonstrate the value of
independent investment advice.
-- The Best-in-Business Award will be presented to an independent
investment advisory firm for excellence in business management and client
services.
-- The Best-in-Tech Award will honor an independent investment advisory
firm that serves as a model for success in harnessing technology to extend
the reach, responsiveness and growth of its business.
-- The Pacesetter Award will recognize an independent investment
advisory firm in business for 10 years or less that has realized
accelerated growth through strategic management, innovative practices, and
ongoing investments in business capabilities.
The IMPACT Awards will be presented at a ceremony at IMPACT(R) 2007,
which will be held October 28-31, 2007 in Las Vegas, NV. This year's IMPACT
conference also marks the culmination of an important milestone for Schwab
Institutional -- its 20th anniversary serving the independent investment
advisor industry. For the Charles R. Schwab IMPACT Award, Schwab
Institutional will make a donation of $25,000 to a charitable organization
of the honoree's choice. For the Best-in-Business, Best-in-Tech, and
Pacesetter Awards, a donation of $10,000 will be made to a charity of the
firm's choice.
Eligibility
SEC-registered independent investment advisory firms with primarily
fee- based practices and at least $25 million in assets under management
are eligible. To be considered for the Best-in-Business, Best-in-Tech and
Pacesetter Awards, a firm must currently have a minimum of 75 percent of
revenue from fees and at least 75 percent of its total client base as
individual investors - or manage at least $100 million on behalf of
individual investors. For the Best-in-Business Award, a firm must have been
in business for at least 10 years. For the Best-in-Tech Award, a firm must
have been in business for at least five years. For the Pacesetter Award, a
firm must have been in business for 10 years or less.
Individuals considered for the Charles R. Schwab IMPACT Award must have
at least 10 years of personal experience managing investments in securities
as an independent investment advisor, providing investment advice to
individual investors as an officer or employee of a Registered Investment
Advisor (RIA). Individuals must also serve as a principal or founder of an
independent investment advisory firm that meets the eligibility criteria
noted for the other three awards.
How to Participate
Candidates for the Charles R. Schwab IMPACT Award will be identified
only through peer nominations; self-nominations will not be considered. For
the Best-in-Business, Best-in-Tech, and Pacesetter Awards, firms must
submit themselves to be considered; firms cannot submit other firms. There
is a limit of one nomination per award category.
For the Best-in-Business and Pacesetter Awards, firms must demonstrate
measurable success in areas such as business strategy, practice management
and employee development, and client loyalty. For the Best-in-Tech Award,
firms must display success in technology strategy, operational efficiencies
and client servicing. Charles R. Schwab IMPACT Award candidates will be
considered for their leadership, business management, community engagement
and other career distinctions.
There is no cost to participate in the IMPACT Awards program.
About the IMPACT Awards
Independent investment advisors have fundamentally changed the
financial services landscape by providing independent advice to affluent
investors. The IMPACT Awards, established by Schwab Institutional in 2006,
recognize these contributions by honoring advisors and firms that have
advanced the industry through their visionary leadership, operational
excellence and technology innovation. The IMPACT Awards are judged by a
panel of recognized experts and presented at IMPACT(R), one of the
industry's leading conferences. For more information, visit
http://impactawards.schwab.com.
About Schwab Institutional
Schwab Institutional is a leading provider of custodial, operational
and trading support for independent fee-based investment advisors. This
year marks Schwab InstitutionaI's 20th anniversary serving the independent
investment advisor industry. Since 1987, Schwab Institutional has supported
independent investment advisors by offering support and services to help
grow their businesses and help their clients reach their financial goals.
As of December 31, 2006, client assets custodied with Schwab Institutional
stood at $502 billion. These assets, managed by the approximately 5,000
independent advisor firms Schwab Institutional currently serves, represent
approximately one-third of total client assets custodied with The Charles
Schwab Corporation.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of
financial services, with more than 300 offices and 6.8 million client
brokerage accounts, more than one million corporate retirement plan
participants, 150,000 banking accounts, and $1.3 trillion in client assets.
Through its operating subsidiaries, the company provides a full range of
securities brokerage, banking, money management and financial advisory
services to individual investors and independent investment advisors. Its
broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC,
http://www.sipc.org), and affiliates offer a complete range of investment
services and products including an extensive selection of mutual funds;
financial planning and investment advice; retirement plan and equity
compensation plan services; referrals to independent fee-based investment
advisors; and custodial, operational and trading support for independent,
fee- based investment advisors through its Schwab Institutional division.
The Charles Schwab Bank, N.A. (member FDIC) provides banking and mortgage
services and products. CyberTrader(R), Inc. (member SIPC,
http://www.sipc.org) is an electronic trading technology and brokerage firm
providing services to highly active, online traders. More information is
available at http://www.schwab.com. (0307-0380)
SOURCE Charles Schwab
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Related links:
http://www.schwab.com/
CONTACT:
Michael Cianfrocca of Charles Schwab,
+1-415-667-3252, or michael.cianfrocca@schwab.com
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