Schwab Advisor Services has awarded the 2017 Impact Awards to four firms for outstanding service to the financial industry, Schwab announced Thursday at its annual conference in Chicago.

The four firms receiving the awards serve high-net-worth clients and have advanced the industry through exemplary business practices, visionary leadership, operational excellence and technology innovation, Schwab said.

“These four firms represent what the independent advice industry stands for: an unwavering focus on serving in the best interests of their clients,” said Jonathan Beatty, senior vice president, sales and relationship management, Schwab Advisor Services. Their entrepreneurship, business savvy and innovation makes them important parts of our communities as well as of our industry.”

Schwab gives $15,000 to charities chosen by the award-winning firms.

The Best in Business Impact Award was presented to Heritage Financial Services Inc., a wealth manager based in Westwood, Mass. The award goes to the firm that has been in business for at least 10 years, has a track record of growth and excellence and uses technology solutions to help expand market reach, responsiveness and operational efficiencies.

The firm’s AUM has grown more than 80 percent over the past five years to more than $1.3 billion. Heritage Financial’s technology and operations strategy supports client experience and growth goals through security, integration, cloud-based solutions to enable consistent client service and centralized operations that enable scale and efficiency, Schwab said.

Gurtin Municipal Bond Management, based in Solana Beach, Calif., received the Pacesetter Impact Award, which honors a firm that has been in in business 10 years or less and has shown initiative, growth and promise, as well as a focused use of technology to extend its reach.

Gurtin Municipal Bond Management serves high-net-worth and ultra-high-net-worth clients by providing specialized municipal bond management, including custom portfolios, and more recently, mutual funds. Gurtin has 72 employees and $14 billion in AUM and has a reputation as an innovative leader in the municipal bond management industry, Schwab said.

Mainstay Capital Management LLC., a wealth manager based in Grand Blanc, Mich., was recognized with the Trailblazer Impact Award for forging new ground in the independent advice space by combining entrepreneurial spirit with a drive to advance the industry’s interests, said Schwab.

Mainstay Capital has 21 professionals who oversee more than $2 billion in AUM. In addition to being a full-service wealth manager providing financial planning and portfolio management for workplace savings accounts, IRAs and non-retirement accounts for individuals, Mainstay promotes financial literacy through its MoneyMatters webinar series and supports the next generation of financial advisors, Schwab said.

The Best in Retirement Business Award went to ABG Retirement Plan Services based in Peoria, Ill. The firm focuses on retirement plans, understands the unique needs of plan sponsors and participants and has developed an innovative approach to serving them, Schwab said.

ABG Retirement Plan Services serves retirement plan participants and health savings account holders and currently oversees more than $3 billion in retirement plan assets. Its services for advisors and participants are centered on retirement outcomes and financial wellness.