Finders Fees

Charlie456

Expert
88
Do you know how I can find info on what's permissible with regard to finders fees for folks like CPA's that give referrals and aren't insurance licensed? There used to be a website that listed the info by state, but I can't locate it. I would love to know for various state, but did call a state DOI and they didn't seem to understand the question. Does anyone have a good resource for that? Thank you!
 
Do you know how I can find info on what's permissible with regard to finders fees for folks like CPA's that give referrals and aren't insurance licensed? There used to be a website that listed the info by state, but I can't locate it. I would love to know for various state, but did call a state DOI and they didn't seem to understand the question. Does anyone have a good resource for that? Thank you!
You can give whatever you like as long it is not contingent on a sale. The best thing to give is to give them referrals in return.
 
Most CPAs just want you to not screw up their clients they've referred to you. That's repayment enough or a lunch or beer after work.

I would be nervous in either position if the other was concerned about referral fees. My CPA friends trusts me not to mess up whom they put me in touch with. They usually don't need money from me. They need me not to mess up things since they referred me.
 
I'm on board with pretty much what everyone else is saying so far.

My biggest concern when I refer business out is that my clients are well taken care of.

I network with several different people, other agents, payroll, cpa, real estate agents, etc. and their main concern is consistently that the client is well taken care of.

I'm in the business of evaluating risk and protecting assets. Like most successful people in the service business, the most valuable asset I own is my reputation.

With that said, take care very good care of his clients, thank him and maybe drop by with chocolates every once in a while, and stay in contact with him. Do that and you'll probably be getting referrals from him for a long time.
 
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