Three investment advisory firms, including a Virginia-based firm that grew its assets under management 60% over the past thre years, have received Impact awards from Schwab Advisor Services.

Iowa-based Foster Group won the Best-in-Business Award, given to a firm with 10 or more years experience that has demonstrated a track record of growth and excellence, as well as best-in-class technology solutions, according to Schwab. The firm is committed to reducing the complexity of wealth management and financial planning, delivering straightforward financial solutions, Schwab said. Founded in 1989 by Jerry Foster, the firm  has more than $1.1 billion in assets under management.

Glassman Wealth Services, a McLean, Va.-based advisory firm, received the Pacesetter Award for showing initiative, growth and promise, as well as a focused use of technology to extend its reach, according to Schwab. Founded by Barry Glassman in 2009, Wealth Services has about $530 million in assets under management, up nearly 60 percent since the firm's inception three years ago.

McLean, Va.-based Sullivan, Bruyette, Speros & Blayney won the Trailblazer award as an independent advisory firm that forged new ground in the RIA space by combining entrepreneurial spirit with a drive to advance the industry's interests as a whole, Schwab said. With more than $2 billion in assets under management, the firm was founded in 1991 by Greg Sullivan and Jim Bruyette.

The award were handed out this morning at the seventh annual Schwab  Impact 2012 Conference in Chicago. 

"This year's winners represent a breed of advisors who demonstrate a similar philosophy of unwavering client service and support," said Bernie Clark, executive vice president and head of Schwab Advisor Services.

-Jim McConville