Caveat Emptor... Last week's Dispatch, Broker Wars: Whose Client Relationship? (Nov 30), produced a diversity of opinions about who "owns" a client -- the broker or the firm?

Gordon Falconer with Ascendant Australia, a business strategies consultant, reports that it's not a problem unique to America. "It's such a common issue that we send out a 6-page paper on it nearly every week to principals trying to grapple with client ownership in a CRM [customer relationship management] environment."

He suggests several considerations, including the following: "What [factor] made the client deal with the company -- the company itself and all it stands for or the broker and his/her individual prowess? If it was the company solely that brought in the client, the broker can hardly take the client with him because the client would be unlikely to leave."

On the other hand, "If the broker delivers exceptional service to the point that the client is inclined to leave the company to follow the broker, this recognizes the intrinsic value of the broker within his own company and the industry. Accordingly, the company needs to pay the broker as determined by the marketplace lest the broker leave."

Daniel Riley with Hodges Ward Elliott in Atlanta highlights the role of the broker, "At the end of the day, the broker himself owns the relationship, not the company or firm the broker is working for. ... The company makes it possible for the broker to create the relationship, but it's the broker's responsibility to cultivate the relationship in the first place."

The last word goes to Bill Graham, a commercial broker for over 45 years, who writes, "As it has always been, the client controls the relationship and ultimately both the broker and firm must respect that. But firms should have no illusions that they alone can control where the client goes."

Spread the Word... Many thanks to Stephanie Weeks at MacMunnis, sponsor of this week's Dispatch. If you would like to tell Dispatch readers about your services, send e-mail or call 415-461-4703.

--Peter Pike