940024 | Office of Legal Ethics Counsel & Advisory Committee of the Supreme Court of Missouri

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Informal Opinion Number: 940024

Rules: 7.2(a);7.3(b);7.2(c)

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QUESTION: Question 1. May Attorney and a financial planner have an agreement that they will recommend each other if no exchange of fees is involved? Question 2. May Attorney generally distribute cards and imprinted pens through Welcome Wagon baskets? ANSWER: Question 1. Not if Attorney and financial planner agree to recommend each other exclusively. This kind of exclusive arrangement would involve giving something of value in exchange for referrals in violation of Rule 4 dash–7.2(c). It would also involve personal solicitation in violation of Rule 4 dash–7.3(b). However, if each merely expresses a willingness to accept referrals without any obligation on the part of either person, no violation would occur. Question 2. Yes.

Informal Opinions are ethics advisory opinions issued by the Office of Legal Ethics Counsel to members of the Bar about Rule 4 (Rules of Professional Conduct), Rule 5 (Complaints and Proceedings Thereon), and Rule 6 (Fees to Practice Law) pursuant to Missouri Supreme Court Rule 5.30(c). Written summaries of select Informal Opinions are published for informational purposes as determined by the Advisory Committee of the Supreme Court of Missouri pursuant to Rule 5.30(c). Informal opinion summaries are advisory in nature and are not binding. These opinions are published as an educational service and do not constitute legal advice.

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