Schwab Advisor Services has recognized four independent investment advisor firms for excellence in leadership and business practices at its’ 13th Annual IMPACT Awards ceremony in Washington, D.C. on Tuesday.

The winning firms are JMG Financial Group for the Best-in-Business IMPACT Award; Rebalance LLC for the Pacesetter IMPACT Award; The Colony Group for the Trailblazer Impact Award; and Fiduciary Investment Advisors LLC for the Best-in-Retirement Business Award.

The IMPACT Awards are handed out annually to firms that are deemed to have advanced the industry and demonstrated excellence through their leadership and business practices, according to Schwab. It is the largest and longest-running annual gathering of independent advisors in the nation, the company said.

“These firms rise to the top for their innovative approaches, dedication to excellence and entrepreneurialism,” said Jonathan Beatty, senior vice president of sales and relationship management at Schwab Advisor Services. “Their achievements elevate the entire industry.”

This year’s panel of judges included Blaine Aikin, CEO, Fi360 and CEFEX; Geoffrey E. Brown, CEO, National Association of Personal Financial Advisors; Julie Littlechild, president, AbsoluteEngagement.com; Kevin Keller, CEO, CFP Board of Standards; Thomas Robinson, president and CEO, AACSB International; and Sean Walters, executive director and CEO, Investments & Wealth Institute.

Schwab will donate $15,000 to each of the winners’ charity or charities of choice.

JMG Financial Group, based in Downers Grove, Ill., was founded in 1984 and established as an independent registered investment advisor in 1986. The firm provides comprehensive planning advice and asset management services to clients in over 40 states.

To qualify for the Best-in-Business award, JMG was required to have been in business for at least a decade; to have a track record of growth and excellence; to use technological solutions to help expand market reach, responsiveness and operational efficiencies; and to safeguard client assets and information.

The firm's chosen charities are Almost Home Kids and Gigi’s Playhouse.

Launched in 2013, Rebalance, LLC, headquartered in Palo Alto, Calif., is the winner of the Pacesetter award. The award category is open to firms such as Rebalance that have been in business 10 years or less; shown initiative, growth and promise; and to employ a focused use of technology to extend its reach, responsiveness and growth.

Its charities are the North Carolina Outward Bound School and Pitt Hopkins Research Foundation.

The Colony Group, headquartered in Boston, is the winner of the Trailblazer award. The firm was founded in 1986 and has grown to a team of over 140 professionals serving clients across 10 offices that oversee more than $8 billion in managed client assets.

The award recognizes a firm that is forging new ground in the independent advice space by combining entrepreneurial spirit and drive to advance the industry’s interests.

Its chosen charity is Colony Cares.

Fiduciary Investment Advisors, winner of the Best-in-Retirement award, is headquartered in Windsor, Conn. It has been in business for more than two decades and oversees more than $60 billion in retirement plan assets.

The award honors an independent record keeper or advisor that focuses on retirement plans, understands the unique needs of plan sponsors and/or participants; and has developed an innovative approach to serving them.

Its chosen charities are the Boys & Girls Clubs of Boston and YMCA of Greater Hartford on behalf of Fiduciary Investment Advisors.