However, in response to concerns from the industry, including the fact that most agents have to split commissions
with companies and often again with other agents, the language of the bill was changed.
Facts: Bernard Turnoy was an insurance broker who entered into an agreement with lawyer and fellow insurance salesman David Shiner to equally split commissions
on insurance policies covering Shiner's mother-in-law.
"I'm not always a fan of the referral type marketing, where guys are trying to split commissions
with each other," said Alberta.
to multiple reps for a single invoice
Too many advisors I coach start with their own agenda in mind when talking with CPAs and with little thought, forge ahead with the same old, "Let's cross-refer clients or split commissions
" as their value proposition.
We do split commissions
with referral sources, but the focus should be on the value-added service we bring, with the commissions as a nice side benefit.
The collaboration between the grand seigneur of contemporary dealers and the brash young Boone is itself provocative (representing the artist jointly, they split commissions
Instead of having to split commissions
on a 50/50 basis with a brokerage firm and pay high costs for desk and administrative fees, Rutenberg agents are able to keep 100 percent of their commissions.
Even worse than offering to cross-refer clients is offering to split commissions
. If you approach the CPAs on this basis, you sound just like every other advisor begging to work with their clients.
The proliferation of insurance-selling professionals poses other challenges to team-building: knowing how and when to split commissions
and, where necessary, encouraging colleagues to commit to full disclosure.