What Does an M&A Advisor Actually Do (And What Do They Charge)?

"Why do I need an advisor if I can sell myself?" — a common question. The difference often shows in the price and the smoothness. Here's what an M&A advisor really does and how they're paid.

1. Preparation

The advisor prepares institutional-grade materials: valuation, anonymous teaser, and CIM. They normalise the financials, frame the business story, and prepare the data room — so buyers take it seriously.

2. Buyer search

An advisor's most important value is access. They reach qualified international buyers the owner wouldn't find alone, and match the business to the right mandate — confidentially.

3. Negotiation and process

The advisor runs the process: manages buyer flow, builds competition, negotiates terms, and supports through to closing. Keeping emotional distance between seller and buyer is often decisive.

4. How they're paid

Typically: a fixed preparation fee (retainer) plus a success fee at closing. In an owner-friendly model the buyer can pay the success fee. The structure should be clear and disclosed up front.

FAQ

What does an M&A advisor do?

They prepare the valuation, teaser and CIM, reach qualified international buyers, and run the negotiations and process through to closing.

How much does an M&A advisor cost?

Typically a fixed preparation fee plus a success fee at closing; in some models the buyer pays the success fee.