Schwab Institutional has promoted Edie Heilman to run the Schwab Advisor Network, a nationwide referral service for affluent investors. She succeeds Rob Klapper, who was named a senior vice president of service offers in Schwab's marketing division. Heilman most recently was senior vice president of active trader services.
The network reported record second-quarter results. More than 5,700 client referrals were made through the network during the quarter, an increase of 30% from the preceding quarter. And 2,177 of these referrals were converted to client accounts by advisers, up 53%. These clients brought nearly $1.5 billion of new assets for advisers, a 33% quarter-over-quarter increase.
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