What Is a Solicitor?

A solicitor is a person or company who makes referrals to an RIA firm such as Magnifina in exchange for compensation. Traditionally the compensation is a share of the investment management fees the advisor collects.

Solicitors are often accountants, attorneys, or other professionals who deal with financial matters separate from managing investments. Their clients are often in need of investment advisory services, and collecting referral fees is an excellent source of passive income.

What Are the Requirements?

Regulations vary by state, but we can generally work with licensed financial professionals, certified public accounts, and lawyers.

In order to solicit a client for Magnifina, a copy of our regulatory brochures must be provided at the time of solicitation. We have made this as simple as possible using a custom web application.

Why Partner with Magnifina?

• Flexible payouts. Collect either a share of management fees or an upfront referral fee.
• Non-exclusivity. We don’t require an exclusive arrangement; you may continue to solicit for other RIAs.
• Small clients welcome. Magnifina has lower account minimums than many other RIA firms.
• Easier than ever. Referrals are made easily using a simple web form; no more collecting signatures on paper.