The Current State of M&A Advisory Fees
In partnership with Axial and Divestopedia, the North American edition of Firmex’s 8th annual M&A Fee Guide 2024-2025 uses survey data and industry insights to give a region-specific overview of M&A fees for sell-side engagements in the middle market
This guide highlights key trends and observations on fees in the middle market using data gathered from a survey of 289 M&A advisors in the United States, Canada, and Mexico. The statistics are accompanied by anecdotes from respondents and insightful commentary from M&A experts at Axial, DealCircle, and Divestopedia.
What Middle-Market Advisors Need to Know
By reading this guide, M&A advisors and business owners will gain valuable insights from North American professionals on fee structures, client relationships, and strategies for 2025.
Key Highlights from the North American M&A Fee Guide 2024-2025
- Despite rising costs, middle-market merger advisors found it harder to raise fee levels in 2024 than they did in 2023.
- Only 30% of firms said they raised at least one type of fee last year, compared to 38% the prior year.
- Half of all firms surveyed grew their revenue last year.
- Profitability levels remained roughly the same as in last year’s survey, with 30% reporting increases.
- Average engagement fee levels–both monthly and one-time–increased over 2023.
- The average success increased slightly from the previous year.