LAS VEGAS, Oct. 30 /PRNewswire-FirstCall/ -- Schwab Institutional, a leading provider of custodial, operational and trading support for independent fee-based investment advisors, today announced the winners of the second annual IMPACT Awards(R) -- an industry-wide awards program to honor advisors and firms that have advanced the industry through their visionary leadership, operational excellence, technology innovation, and impressive growth.

The winners were recognized today during a ceremony at the IMPACT(R)2007 conference in Las Vegas, where Schwab is celebrating its 20th anniversary serving the independent advisor industry.

The 2007 IMPACT Awards winners were selected by a distinguished panel of judges including Daniel O. Leemon, former executive vice president and chief strategy officer for The Charles Schwab Corporation; Edythe "Dede" McClatchy Pahl, executive director of the Investment Management Consultants Association (IMCA); David G. Tittsworth, executive director and executive vice president of the Investment Advisor Association (IAA); and Marvin W. Tuttle, Jr., CAE, executive director and CEO of the Financial Planning Association (FPA). IMPACT Awards entries were scored by the accounting and consulting firm Moss Adams LLP. The winners were selected by the panel of judges.

The Charles R. Schwab IMPACT Award(TM) was presented to Dr. Lewis J. Altfest, president of L.J. Altfest & Co. by Schwab Founder, Chairman and CEO Charles R. Schwab. Centered on his philosophy of bringing a new level of objectivity to the financial services profession, Altfest has grown his New York-based firm from a one-man shop in 1983 to a 21-person firm managing $550 million in client assets, with annual growth of 20 to 25 percent.

Altfest has been recognized as a leading independent advisor by such publications as Barron's, Financial Advisor, Medical Economics, Wealth Manager, Mutual Funds Magazine, Worth and Money, and his textbook "Personal Financial Planning" is considered a definitive guide to the profession. An earlier book written for consumers, "Lew Altfest Answers Almost All Your Questions About Money", was named one of the best financial planning books by Money in 1992.

Altfest's research has led him to develop an exclusive, innovative wealth management system, Total Portfolio Management (TPM(TM)). Based on the philosophy that a planner must understand how individuals think in order to develop a realistic financial plan, TPM(TM) incorporates all assets and liabilities, including human assets and real estate, into the planning process and takes into account behavioral elements such as discretionary and nondiscretionary spending.

Altfest helped to develop the National Association of Personal Financial Advisors (NAPFA), the nation's leading organization of fee-only financial planning professionals, is a founding member and former board member of the Consumer Financial Education Foundation, and former director of the New York Chapter of the International Association for Financial Planning.

The Best-in-Business Award winner, Moneta Group of St. Louis, Missouri, was honored for its success in delivering a wide range of services to clients, including money management services, in-house estate planning, tax planning and preparation, retirement planning, charitable giving, business succession planning and risk management. In the last five years, assets under management at Moneta Group have grown from approximately $3 billion to more than $6 billion, while the number of clients has remained the same. This success with existing clients stems from the firm's focus on serving as "Family CFO" for its clients, emphasizing relationships and maintaining a fierce commitment to high levels of client service.

Between 1998 and 2004, the Best-in-Tech Award winner, Friedman & Associates of Novato, California, doubled the number of clients it served, tripled assets under management and added an array of services -- all without hiring additional administrative employees. The firm has also experienced approximately 40 percent growth per year in operating profits. The firm attributes its success to increased productivity through technology. Recognizing a common frustration among advisors, Greg Friedman, MS, CFP and President of Friedman & Associates, helped create "Your Silver Bullet", an organization that now has 21 members committed to enabling different software applications to share data easily. The organization is developing interfaces and data standards so that core functions advisors perform using software -- including portfolio management, CRM and document management -- will be more integrated, freeing advisors to spend more time serving clients.

The Pacesetter Award winner, Abacus Planning Group, Inc. of Columbia, South Carolina, has grown from serving a handful of clients with a two-person staff to a 16-person firm overseeing more than $500 million in assets for 145 clients. The firm places an emphasis on developing team members and a team approach to client service. Abacus Planning Group incorporates a number of practice management strategies to enhance the culture and develop employees who can help the firm grow. For example, a career path model encourages employees at each career stage to participate in the management of the business. In addition to core professional and administrative responsibilities, each team member serves on one of four business teams: CFO, marketing, operations or human resources. Firm employees take turns teaching at "Abacus University", a one-hour weekly meeting covering key topics every employee needs to know.

"The independent investment advisory industry is a remarkable story of entrepreneurialism, integrity and passion for helping people reach their financial goals," said Charles Goldman, executive vice president of Schwab Institutional. "The 2007 IMPACT Award winners exemplify the very best of the industry."

Goldman presented each of the winners with an IMPACT Awards trophy at the ceremony. Each winner also was granted a donation from Schwab Institutional to their charity of choice. The Charles R. Schwab IMPACT Award winner received a $25,000 donation from Schwab Institutional to Pace University's Lubin School of Business for a scholarship fund to be established in Dr. Lewis J. Altfest's name to benefit students in the CFP program. The firms honored with the Best- in-Business, Best-in-Tech and Pacesetter Awards received a $10,000 charitable donation to the CFP program at the University of Missouri, St. Louis; the American Cancer Society; and Bryn Mawr College, respectively.

Profiles and videos on the winners are available online at impactawards.schwab.com/.

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 impactawards.schwab.com/.

About Schwab Institutional

Schwab Institutional is a leading provider of custodial, operational and trading support for independent investment advisors. 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 September 30, 2007, client assets custodied with Schwab Institutional stood at $581 billion. These assets, managed by the approximately 5,500 independent advisor firms Schwab Institutional currently serves, represent approximately one-third of total client assets custodied with The Charles Schwab Corporation. Brokerage products offered by Schwab Institutional are not FDIC insured, are not guaranteed deposits, and are subject to investment risk, including the possible loss of principle invested. Schwab Institutional is a division of Charles Schwab & Co., Inc.

About Charles Schwab

The Charles Schwab Corporation (NASDAQ:SCHW) is a leading provider of financial services, with more than 306 offices and 6.9 million client brokerage accounts, 1.2 million corporate retirement plan participants, 212,000 banking accounts, and $1.4 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 www.schwab.com. (1007-1698)

Source: Charles Schwab