(Photo collage: Chris Nicholls)

(This story, originally published on March 5, has been updated to reflect the new nomination deadline.)

Invest in Others says advisors and other financial professionals can apply online for awards to support their communities through April 17, giving them an extra two weeks to complete the nomination process. (The earlier deadline was April 3.)

Awards will be given in five categories: Catalyst, Community Service, Global Impact, Volunteer of the Year and Lifetime Achievement. Winners will be announced in mid-July. 

Finalists receive $10,000 for their designated nonprofit, winners get $40,000, and the Lifetime Achievement Award winner is given $50,000.

Nominations must include the name of an advisor’s primary broker-dealer/custodian, FINRA and/or SEC number, as well as his or her associated charity.

Advisors shouldn’t be self conscious about nominating themselves, said Riskalyze CEO Aaron Klein. “From my perspective, advisors nominating their nonprofit work for an Invest in Others award is one of the most selfless things that they can do,” he said in a video statement.

“They’re nominating their nonprofit to have the chance at incredible exposure, at the multiplication effect of people seeing the work that is going on and getting involved in it, and the opportunity to get a great award and put those dollars to work for their cause,” he said.

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Invest in Others says that, in addition to financial support, the program gives winners a national platform to promote their cause and raise community awareness of their charity. Two-thirds of winners say they received additional funds for their charities after being recognized, including one who received over $200,000 for a nonprofit.

The program also aims to “tell stories about the good that advisors do,” according to Kate Healy, managing director, Generation Next at TD Ameritrade Institutional. “It’s also a great way to attract clients and next gen talent to the industry.”

Past winners include Sacha Millstone, an advisor with Raymond James and leader of the Millstone Evans Group of Washington, D.C.; Michael Deutsch of United Capital in Memphis, Tennessee; and Jody D’Agostini of the Falcon Financial Group, an affiliate of AXA Advisors in Morristown, New Jersey.