Schwab Institutional, the subsidiary of Charles Schwab Corp., has tapped one of its own, Fred Petrino, to serve as a business development officer.

Based in Chicago, Petrino will help hook affluent investors up with independent advisors that have membership in the Schwab Advisor Network program. The program, according to the company, is "an exclusive service designed to connect investors with independent advisors who have undergone a due diligence review and meet certain defined qualifications."

"Fred has a deep knowledge of the needs of affluent investors and independent advisory firms in the Chicago area, who offer a broad array of specialized areas such as retirement, estate planning needs and tax considerations," said Schwab Advisor Network’s senior vice president, Edie Heilman.

Petrino has been with Schwab for 15 years, most recently serving as vice president of that advisor network. He has also worked at Schwab Institutional in high-level positions out of both Southern California and Chicago.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.