Why ERISA Counsel Relationships Matter
Benefits compliance advisory has limits — there are questions that require legal advice, not just compliance guidance. Advisors who try to answer every question themselves risk giving incorrect legal advice and exposing themselves to liability. Advisors who have trusted ERISA counsel relationships can refer clients for legal guidance when needed — and maintain the relationship by being the coordinator of the client's compliance team.
Building the Referral Relationship
- Identify 2–3 ERISA attorneys in your market who specialize in employer health plans
- Schedule introductory meetings to understand their practice and share your advisory approach
- Refer clients to them for legal questions — and follow up to ensure the client was well-served
- Invite them to speak at client events or co-author compliance content
- Ask for referrals — ERISA attorneys often work with employers who need a benefits advisor
- Maintain the relationship with quarterly check-ins and shared market intelligence
The Two-Way Referral Model
IQ Insight
The most successful compliance advisors have built two-way referral relationships with ERISA counsel. The advisor refers clients to the attorney for legal questions; the attorney refers clients to the advisor for benefits strategy and plan management. This model creates a steady stream of qualified referrals from a trusted source — and positions the advisor as a peer of the attorney, not just a vendor.