Foster Group Inc. was selected as the winner of the 2012 Best In Business IMPACT Award by Charles Schwab & Co. Inc.

The West Des Moines-based fee-only advisory firm was one of just three registered investment advisers recognized nationally with an IMPACT award, which annually recognizes excellence in the business of independent financial advice. Founded in 1989, Foster Group serves more than 850 clients across 38 states.

The firm's "Advisor Playbook," an employee training and education program, has enabled Foster Group to increase its referral network by 170 percent in the past year, Schwab said in announcing the award.