The Florida Bar

Ethics Opinion

Opinion 63-14

FLORIDA BAR ETHICS OPINION
OPINION 63-14
July 11, 1963
Advisory ethics opinions are not binding.
No attorney is permitted to make a secret commission on placement of his client’s funds or to
obtain commissions from an outside source without the full knowledge, approval and consent of
his client.
Note: See Opinion 70-13, which indicates that an attorney may receive a fee for referring a
client to a financial institution provided that the client consents after full disclosure and the
client receives the benefit of the referral fee.
Canon:

38

Chairman Holcomb stated the opinion of the committee:
A member of The Florida Bar submits a question concerning a letter sent him
by A., Inc. of New York City, suggesting that he take advantage of referral fees
offered by them for the placement of funds in insured savings and loan
associations, promising referral fees on any accounts placed by him as well as his
personal deposits. His question is whether lawyers can accept secret commissions
for such references.
No attorney is permitted to make a secret commission on placement of his client’s funds
or to obtain commissions from an outside source without the full knowledge, approval and
consent of his client.