Please help.

The bank is wanting to implement a checking account for clients of financial advisors that require a referral from the financial advisor and a minimum of $100,000 to open the account.

The bank is not offering anything of value to the financial advisor for the refferal but the bank is giving the customer a rate bump over normal rates for balances between certain amounts (100K - 500K)

Is there anything wrong with that? I had originally thought, no but I am beginning to doubt myself.

No. Banks can pay higher rates for high balance accounts. They need to disclose the rates offered and make them available to all customers with those balances unless there are other qualifying factors, which need to be clearly delineated.

Whew! Thank you!

Lots of banks have tiered rates.