As a financial professional, you can’t do everything. You might think you can, but licensing might be your first hurdle. If you are licensed to sell insurance, you are not licensed as a CPA to give accounting advice. In this circumstance, you might see the need to suggest they consult a fellow professional. How can you do this, both keeping the interests of your client foremost and not getting into trouble down the road?
What professions are we talking about? It might be a wealth manager or financial advisor. It might be an insurance agent or broker who handles lines of insurance you do not. It might be to an accountant or an attorney. Let us not forget real estate agents and bankers.
Let us look at 11 considerations for making referrals to fellow professionals.
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