Thursday, February 15, 2007

From `all-talk' to `a business model'

From `all-talk' to `a business model'

In the world of medicine, referrals happen all the time. The word `referral', for starters, means `the act or process of referring somebody or something to somebody else, especially of sending a patient to consult a medical specialist,' as explained on Many accountants too share clients with investment advisers on a reciprocal basis, writes Thomas Grady in Making Referral Relationships Pay, from Bloomberg (

Much of such sharing between practising accountants and others happens `as a professional courtesy, meaning, no compensation passes between the investment adviser and the CPA (certified public accounting) firm when revenue is generated from the shared client', notes the author. A problem with such gentleman's arrangements is that of balance: "More often than not, either the investment adviser or the CPA firm sends fewer referrals through the mutual gate, causing the strategic alliance to deteriorate and finally cease."

Books of Account

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