Private Ocean CEO Receives Schwab IMPACT Leadership Award

November 04, 2011

San Rafael, CA — Private Ocean co-founder and CEO Richard Stone, CLU, CFP, was awarded the prestigious Schwab IMPACT® Leadership Award during a ceremony held yesterday at the 2011 Schwab IMPACT® conference. The Leadership Award, one of three IMPACT Awards®, recognizes Stone for his broad contributions to the industry over the course of his career.

“I am honored to be recognized with an award of this stature,” said Stone. “It is a tribute not only to my accomplishments but to those of the entire Private Ocean team. We are constantly working to raise the bar in ethics, planning and investing.”

When Stone began his career more than 40 years ago, the financial planning industry was in its infancy. He was one of the graduates of the first class of Certified Financial Planners in 1973, and co-author of the industry’s first code of ethics. A tireless advocate for client rights and transparency, Stone has worked to establish the highest possible ethical standards for the financial services industry.

In addition to his work with Private Ocean, Stone is a frequent speaker at universities and conferences. He is treasurer, chair of the finance committee and a board member at Dominican University of California. He also sits on the Global Business Council at San Jose State University, and serves as a member of the North Bay advisory board of Presidio Bank.

The Schwab IMPACT Leadership Award® includes the largest of three cash awards, a $25,000 donation from Schwab to the winner’s charity of choice. Stone will split the funds between several educational institutions and local organizations that provide support to under-served youth.

About Private Ocean
Private Ocean is a wealth management firm deliberately structured to give clients the intimate experience of a small firm, while harnessing the power, depth and discipline of a much larger one. The 26-person Private Ocean team seamlessly integrates personal financial planning and institutional-class investing. Private Ocean clients interact directly with a tight-knit team of specialists led by recognized industry leaders and pioneers in planning, investing, ethics and technology.

Formed in 2009, Private Ocean (www.privateocean.com) combined two of the oldest privately-held wealth management firms in the San Francisco Bay Area—Salient Wealth Management and Friedman & Associates. Founded by Richard Stone and Greg Friedman, the firm has nearly $750 million in assets under management. Private Ocean works with senior executives, business owners and other affluent individuals with a minimum of $2 million to invest.