The Current State of M&A Advisory Fees
In partnership with Axial and Divestopedia, the US 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 212 M&A advisors in the United States. The statistics are accompanied by insightful observations from the respondents.
What Middle-Market Advisors Need to Know
By reading this guide, M&A advisors and business owners will gain valuable insights from American professionals on fee structures, client relationships, and strategies for 2025.
Key Highlights from the US 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 37% the prior year.
- More than half of all firms surveyed grew their revenue last year.
- Profitability levels grew from last year’s survey, with 30% reporting increases.
- Average engagement fee levels–both monthly and one-time–increased over 2023.
- The average success fee increased slightly from the previous year.