fee-splitting

fee-splitting

n
US giving to a colleague who makes the referral part of the fee charged to a referred client or patient

fee′-split`ting



n.
the practice of dividing a fee for professional services between two professional persons, as between a referring doctor and a specialist.
[1940–45]
fee′-split`ter, n.
References in periodicals archive ?
"One of the major issues that supports the fee-splitting concerns is protecting lawyers' independent judgement and also prohibiting improper solicitation....
Murad is not in the fee-splitting business, I added.
It also addresses billing, fees, statutory fee awards that include compensation for paralegal work, fee-splitting, referral fees, partnerships between attorneys and nonlawyers, the compensation of paralegals, and handling client funds; competence and malpractice; special issues for litigation paralegals; and professionalism, including titles, overtime, diversity, and pro bono work.
Therefore, this prohibition against fee-splitting with "non-lawyers" enables lawyers to focus exclusively on the interests of their clients and to exercise judgment independent of any outside source of revenue.
Word has it they're still negotiating the fee-splitting arrangement.
Fiduciary duties that may fall on mortgage brokers include the following: 1) the duty to disclose all loan information to the borrower (i.e., loan fees, interest rates, prepayment penalties and yield-spread premiums), and 2) the duty to act in good faith and to deal fairly (i.e., avoiding secret fees or undisclosed fee-splitting arrangements).
Flake said Wilson misled him about having a real estate license (a legal requirement for Wilson to collect a referral fee), while Wilson indicated Flake initiated the fee-splitting arrangement.
Although fee-splitting was once universally condemned as unethical, the government-sanctioned "optometric-ophthalmic co-management," permits the splitting of the tee for performing cataract surgery.
A January meeting between NAR President Al Mansell and the Chief Counsel of the Securities and Exchange Commission's (SEC's) Division of Market Regulation focused on the sanctioning of REALTORS participating in a fee-splitting arrangement for TIC securities transactions between brokers/dealers and real estate licensees.
Or, gain sharing can be as unethical as fee-splitting was at the turn of the century, and as corrupt as any conflict of interest.