“Can you get me in?”
For fans who spent the spring searching for Knicks playoff tickets and are now turning their attention to the 2026 World Cup, it’s become a pressing question.
For financial advisors, that can create an unusual challenge.
When a client asks for tickets to a Knicks game, a concert or another sold-out event, the request is often about more than just a seat. Clients may be asking whether their advisor has access through a corporate suite, entertainment budget or industry connection.
The demand for premium event access has also created a niche industry around corporate entertainment. Companies such as Seat Insiders and Sawyer Seats market ticket sourcing, hospitality packages and event access services to businesses looking to entertain clients, employees and prospects. As marquee events become more expensive and harder to get into, those services have become another avenue for firms seeking to strengthen relationships through shared experiences.
The issue sits at the intersection of relationship-building, compliance and firm culture, particularly as regulators continue to scrutinize gifts and entertainment practices across the financial services industry.
In February, the SEC approved amendments to FINRA Rule 3220, commonly known as the gift rule, increasing the annual gift limit from $100 to $300 per recipient. The limit had remained unchanged since 1992.
The rule, however, is not just black and white.
One of the most persistent gray areas involves the distinction between gifts and entertainment. Under FINRA guidance, ordinary business entertainment generally is not subject to the gift limit if it is reasonable in nature and a representative attends the event. Without an advisor, the tickets are simply a gift.
That distinction becomes increasingly important as ticket prices climb and firms face questions about how much value can be provided to clients outside of financial advice.
“The rules around entertainment are much stricter than many people realize, especially after the TCJA changed the deductibility of entertainment expenses,” said Kevin Thompson, founder and CEO of 9i Capital Group.
Before the Tax Cuts and Jobs Act took effect in 2018, businesses generally could deduct 50% of qualifying entertainment expenses. The law largely eliminated those deductions, making sporting events, concerts and similar entertainment outings generally nondeductible, even when there is a business purpose.
“But beyond the tax treatment, there is also a perception issue,” Thompson said. “Advisors have to be careful that client events are not viewed as a way to curry favor, induce favor, or influence someone’s decision to work with the firm.”
Earlier in the firm’s growth, Thompson said 9i Capital occasionally hosted local client events in the Dallas-Fort Worth area, including outings to the Colonial and TCU football games. As the firm expanded nationally, however, those events became more difficult to manage.
For Thompson, the larger concern was avoiding the appearance that client loyalty could be bought.
“We never wanted to build a firm that looked like it was buying loyalty,” he said. “We want clients to stay because of the work we do, the planning we provide and how we show up when they actually need us.”
Not every advisor sees the issue as a significant part of client relationships.
Charles Failla, founder and CEO of Sovereign Financial Group, said he has rarely encountered clients seeking tickets or entertainment perks during his three decades in the industry.
“I don’t think I’ve ever, in 30 years, ever once had a client call me saying, ‘Can you get me Knicks tickets?’” Failla said.
Failla believes there is a clear distinction between gifts and entertainment. A gift might be a bottle of wine sent to a client’s home, while entertainment involves sharing an experience together, such as dinner.
He said his firm regularly hosts lunches and dinners but does not rely heavily on expensive entertainment as a client retention strategy.
Still, he acknowledged that many advisors take a different approach.
“I guarantee there’s a split,” he said. “I’m sure there’s some very good advisors that have excellent business and do, in fact, deliver a lot of value and happen to do a lot of entertaining as well.”
The debate reflects a broader question facing the advisory industry: How much should relationships depend on access and experiences versus advice and service?
As ticket prices continue to rise and premium events become harder to access, advisors may find themselves navigating that question more often. For some firms, entertainment remains a valuable relationship-building tool. For others, the most important client benefit is not a seat at the game, but the financial guidance that keeps clients coming back long after the final whistle.
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