Referrals & compensation
No tiers, no targets, no clawbacks. One simple rule, stated plainly, because you'd ask anyway: 10% of our administration fee, for as long as your referrals keep claiming.
How referring works
- 1
You're issued a code
Apply once; on approval we issue your personal referral code (you can suggest one). Firms can hold several codes (one per advisor) so referrals are tracked to the right person.
- 2
Your client enters it
The client puts your code on the online application. Their one-time $375 setup fee is waived entirely, and the plan is permanently linked to you. That's your whole workload.
- 3
We run the plan
Onboarding, agreements, claim review, payments, renewals, support: all Medallion. You'll never be asked to chase paperwork for a client you referred.
- 4
You watch it in your dashboard
Sign in to see your referred companies, plan status, and compensation accrued this year and lifetime, by company, updated as claims are paid.
The compensation, exactly
You earn 10% of Medallion's administration fee on every claim your referred clients make, for the life of the plan. If your client claims $2,000, our administration fee is $200 and $20 accrues to you: on that claim, the next one, and every one after it.
Two things worth noting. It comes out of our fee. Your client pays exactly the same whether they were referred or not (less, actually: the setup fee is waived). And it's trailing, not a bounty. A client who claims for ten years compensates you for ten years.
How you're paid
By direct deposit, riding our twice-monthly payment runs once your balance reaches $50. Smaller balances carry forward, and the December run pays out whatever remains so the year settles clean.
Tax reporting
Compensation over $500 in a calendar year is reported on a T4A, so we collect payee details (individual or your corporation) with your payout account, encrypted and used only for that. GST/HST, if you're a registrant, is your own to invoice and remit.
Client-facing disclosure
When a client applies with your code, the application discloses that their referrer may receive ongoing compensation from Medallion. We think you'd want that said out loud, and most professional codes of conduct agree.
If you can't accept referral fees
Many of the professionals best placed to refer, from CPAs under conduct rules to lawyers and fee-only planners, can't or won't take referral compensation. The application has a one-checkbox opt-out: your code still works, your client still gets the setup fee waived, no compensation ever accrues, and no compensation disclosure is shown to your client. Refer because the plan fits, full stop.
Your client's own fees are on the pricing page: a flat $375 setup (waived with your code) and 10% + GST on claims. Nothing about referral compensation changes what they pay.
Ready to refer?
Apply online and we'll issue your referral code, usually within a business day or two. Questions first? Ask a person.