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#1599852 - 09/02/11 07:51 PM Trust department referral question
joeball Offline
100 Club
joeball
Joined: May 2004
Posts: 177
Bluegrass State
I am not that familiar with trust/wealth management issues so I thought I would pose the question here.

Can a trust department refer customers to an insurance company that, in return, would provide the trust department a portion of the insurance premium (or referral fee) if the customer obtains a policy?

The insurance company is not an affiliate.

Thanks,
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I'm no supergenius, or are I? Homer Simpson.


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General Discussion
#1599937 - 09/02/11 10:22 PM Re: Trust department referral question joeball
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Insurance is a State issue and you would have to check state insurance laws. It would be prohibited in many States.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1600019 - 09/06/11 02:18 PM Re: Trust department referral question rlcarey
joeball Offline
100 Club
joeball
Joined: May 2004
Posts: 177
Bluegrass State
Thanks Randy. I'll search the KRS.
_________________________
I'm no supergenius, or are I? Homer Simpson.


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#1600226 - 09/06/11 07:33 PM Re: Trust department referral question joeball
CosmoKramer Offline
Junior Member
Joined: Jul 2005
Posts: 47
In most states you cannot split commission unless the party is a licensed insurance agent.

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