It is a reasonable expectation that a referral made on your behalf to another party, might end up with you and the other party discussing a “need” or a relationship not previously mentioned at the outset. So long as that is clear to all parties when they talk (no hidden agenda).

In other words, a referral for a lead adviser to assist in a capital raise or selling a business might result in a conversation that diverts to, and an offer made, for a co-adviser, not a lead adviser role. Both parties are free to accept or decline the “lesser” offer and leave feeling that they have been treated well.

What is dishonest and unethical in my view, is taking someone’s genuine time and interest in a specific relationship or role, and using it for disingenuous purposes (to shoehorn them secretly into another role or worse, to pickpocket proprietary information for competitive advantage).

This is first and foremost a relationship business, where success is never guaranteed with referrals but respect is a minimum requirement.