{ "name": "madvisorfees.com M&A Advisor Fee Index", "title": "M&A Advisor Fee Index", "url": "https://madvisorfees.com/datasets/ma-advisor-fee-index/", "csv": "https://madvisorfees.com/datasets/ma-advisor-fee-index.csv", "markdown": "https://madvisorfees.com/datasets/ma-advisor-fee-index/index.md", "computed_at": "2026-11-12", "license": "https://madvisorfees.com/terms", "headline": "The median published figure in the M&A Advisor Fee Index is 4 percent across 7 sources' own pages (range 1.50 to 10 percent), read 11 November 2026.", "quotes": [ "The median published figure in the M&A Advisor Fee Index is 4 percent across 7 sources' own pages (range 1.50 to 10 percent), read 11 November 2026.", "7 of the 84 named sources read in full publish a figure; 77 publish none, read 11 November 2026.", "M&A Advisor Fee Index, fee formula flat percent: median 10 percent across 1 source, read 11 November 2026.", "The median is unchanged since 22 October 2026 (was 4 percent across 7)." ], "citation": "\"madvisorfees.com M&A Advisor Fee Index\", updated 2026-11-12, https://madvisorfees.com/datasets/ma-advisor-fee-index/.", "changed_since": { "since": "2026-10-22", "previous_median": 4, "delta": 0, "direction": "unchanged", "sentence": "The median is unchanged since 22 October 2026 (was 4 percent across 7)." }, "national": { "unit": "%", "n": 7, "median": 4, "min": 1.5, "max": 10, "p25": 3, "p75": 10, "mean": 5.2143, "units": { "%": 7 }, "published_sources": 7, "named_sources": 88, "read_sources": 84, "not_published": 77, "published_share": 0.083 }, "by_axis": { "fee formula": { "flat percent": { "%": { "n": 1, "median": 10, "min": 10, "max": 10, "p25": 10, "p75": 10, "mean": 10 } } } }, "rows": [ { "source": "hornblower-businesses.co.uk, Fees for selling a business | Hornblower Business Brokers UK", "url": "https://hornblower-businesses.co.uk/fees-for-selling-a-business/", "figure": "5%", "value": 5, "unit": "%", "vat": null, "axis": {}, "retrieved_at": "2026-09-11", "quote": "At Hornblower, our fees are £2,500 on engagement, £2,500 on signing of Heads of Terms and 5% on completion of the sale.", "source_class": "primary-provider-own-site", "text_sha256": "97c275d60a0ea69ecf48ab83578cefbf6995c01611a86bab4e492cfa3ce9830c" }, { "source": "bonzabfs.com.au, how to sell a business australia", "url": "https://bonzabfs.com.au/blog/how-to-sell-a-business-australia", "figure": "4%", "value": 4, "unit": "%", "vat": null, "axis": {}, "retrieved_at": "2026-10-12", "quote": "Business Broker Fees in Australia: Why We Charge 4% When the Standard Is 8 to 10%", "source_class": "primary-provider-own-site", "text_sha256": "abf3c04442ca7c6ed4bfb8b3e92005a74722967cfdd9a6133f0a472972868b89" }, { "source": "sellltd.co.uk, KBS Corporate review 2026, fees, exclusivity, honest verdict", "url": "https://sellltd.co.uk/sell-my-business/reviews/kbs-corporate", "figure": "1.5%", "value": 1.5, "unit": "%", "vat": null, "axis": {}, "retrieved_at": "2026-10-12", "quote": "Transparent pricing Free to list · 1.5% success · optional managed sale — full teardown", "source_class": "secondary", "text_sha256": "663028a52b81ba260cc7e11cb2aecaaf576bcd490098f9eee10243db10fa6b3f" }, { "source": "nexusbridgebrokers.com, NJ Business Broker Fees 2026", "url": "https://nexusbridgebrokers.com/nj-business-broker-fees-2026/", "figure": "10%", "value": 10, "unit": "%", "vat": null, "axis": {}, "retrieved_at": "2026-10-12", "quote": "Nexus Bridge $0 10% 8–10% sliding Yes, available 12 months named buyers Yes, 50/50", "source_class": "primary-provider-own-site", "text_sha256": "cc299804fe00533f8a45b72f2ac20881c20b3cdcc44d641aa3327af7d1b3148d" }, { "source": "synergybb.com, What Are The Fees For Selling A Business? | Business Brokers", "url": "https://synergybb.com/blog/what-fees-are-paid-for-selling-a-business/", "figure": "10%", "value": 10, "unit": "%", "vat": null, "axis": { "fee formula": "flat percent" }, "retrieved_at": "2026-11-10", "quote": "We charge a flat fee of 10% for businesses that have a cash flow of $600,000 or less.", "source_class": "primary-provider-own-site", "text_sha256": "44d0a79918c9253f3b5c858a2e75c495a40272ff83aebb4d3deaed2f3aa6695e" }, { "source": "baton.com, How much do business brokers charge: Breaking down pricing and fees", "url": "https://www.baton.com/resources/own/business-broker-fees", "figure": "3%", "value": 3, "unit": "%", "vat": null, "axis": {}, "retrieved_at": "2026-11-11", "quote": "Baton Market success fee (Lite plan): 3% of $1M = $30,000", "source_class": "secondary", "text_sha256": "13e9c12107e67287de69790a738d3cdbd3fd2c88513e76c3adc75eaa8f2af882" }, { "source": "baton.com, What’s the Average Business Broker Commission?", "url": "https://www.baton.com/resources/own/average-commission-for-business-broker", "figure": "3%", "value": 3, "unit": "%", "vat": null, "axis": {}, "retrieved_at": "2026-10-12", "quote": "Baton Market success fee (Lite plan): 3% of $1M = $30,000", "source_class": "secondary", "text_sha256": "d9610fcbd34c756dee7953e6ddb64954f8545bf59a373941fbc2cc9259567097" } ], "not_published": [ { "source": "1719partners.com, How Much do Brokers Charge to Sell a Business: is it Worth it?", "url": "https://1719partners.com/how-much-do-brokers-charge-to-sell-a-business/", "retrieved_at": "2026-09-11", "reason": "every candidate on the page was refused" }, { "source": "abercornbusinesssales.com, No Upfront Fees Guranteed", "url": "https://abercornbusinesssales.com/business-sale-guarantee.php", "retrieved_at": "2026-09-12", "reason": "read in full and no accepted figure on the page" }, { "source": "abercornbusinesssales.com, No Upfront Fees Guranteed To Sell Your Business", "url": "https://abercornbusinesssales.com/cost-to-sell-my-business.php", "retrieved_at": "2026-09-12", "reason": "read in full and no accepted figure on the page" }, { "source": "auxocapitaladvisors.com, M&A Advisor Fee Calculator | Lehman Formula & Blended %", "url": "https://auxocapitaladvisors.com/lehman-formula-calculator/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "auxocapitaladvisors.com, M&A Advisor Fees & Incentives: 2026 Guide | Auxo Capital", "url": "https://auxocapitaladvisors.com/m-a-advisor-fees-incentives-deal-outcomes/", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "auxocapitaladvisors.com, Lehman Formula & M&A Advisor Fees: 2026 Guide | Auxo", "url": "https://auxocapitaladvisors.com/m-a-advisor-fees-modified-lehman/", "retrieved_at": "2026-09-11", "reason": "every candidate on the page was refused" }, { "source": "aventis-advisors.com, M&A Fees in 2024 | Aventis Advisors", "url": "https://aventis-advisors.com/ma-advisor-fees/", "retrieved_at": "2026-11-10", "reason": "read in full and no accepted figure on the page" }, { "source": "becomebusinessbroker.com, Business Broker License Requirements 2026: US & Global Guide", "url": "https://becomebusinessbroker.com/is-a-business-broker-licence-required/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "bizadvisoryboard.com, How Much Do M&A Advisors Charge? A Complete Guide by Deal Size", "url": "https://bizadvisoryboard.com/ma-advisory-fees/", "retrieved_at": "2026-09-11", "reason": "every candidate on the page was refused" }, { "source": "bsale.com.au, How much is a business brokers commission?", "url": "https://bsale.com.au/article-display/how-much-is-a-business-brokers-commission,474", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "businessbrokers.com.au, How Much Do Business Brokers Charge? - Business Brokers", "url": "https://businessbrokers.com.au/how-much-do-business-brokers-charge/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "businessbrokersguide.us.com, Business Broker Commission Rates: What You'll Actually Pay", "url": "https://businessbrokersguide.us.com/business-broker-commission-rates/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "chelseacorporate.com, How Much Does It Cost to Sell a Business (UK)?", "url": "https://chelseacorporate.com/2025/03/how-much-does-it-cost-to-sell-a-business-uk/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "corporatefinanceinstitute.com, Success Fee - Defintion, How it Works, Benefits, Limits", "url": "https://corporatefinanceinstitute.com/resources/valuation/success-fee/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "ctacquisitions.com, Business Broker Fees in 2026: Full Breakdown of Lehman, Modified Lehman, and the", "url": "https://ctacquisitions.com/business-broker-fees-2026-breakdown/", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "ctacquisitions.com, How Much Does a Business Broker Charge? (2026)", "url": "https://ctacquisitions.com/how-much-does-a-business-broker-charge-to-sell-your-business/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "ctacquisitions.com, M&A Advisor Fee Structure Explained: 2026 Retainers, Success Fees, and Tail Prov", "url": "https://ctacquisitions.com/m-and-a-advisor-fee-structure/", "retrieved_at": "2026-09-11", "reason": "every candidate on the page was refused" }, { "source": "ctacquisitions.com, M&A Advisor Fees in 2026: Retainer, Success Fee, and the Lehman Scale Explained", "url": "https://ctacquisitions.com/m-and-a-advisor-fees-2026/", "retrieved_at": "2026-11-11", "reason": "every candidate on the page was refused" }, { "source": "ctacquisitions.com, M&A Advisor for SaaS Business Owners: 2026 Sell-Side Guide", "url": "https://ctacquisitions.com/ma-advisor-for-saas-business/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "dealroom.net, Buy", "url": "https://dealroom.net/blog/buy-side-m-a-fees", "retrieved_at": "2026-09-11", "reason": "every candidate on the page was refused" }, { "source": "divestopedia.com, A Summary of M&A Fees for Sell", "url": "https://divestopedia.com/2/8036/sale-process/investment-bankers/a-summary-of-ma-fees-for-sell-side-transactions", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "emanda.app, Business Broker Fees in Australia: What You'll Actually Pay", "url": "https://emanda.app/guide/business-broker-fees-australia", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "firstpagesage.com, M&A Advisory Fee Structure: 2025 Report, First Page Sage", "url": "https://firstpagesage.com/business/ma-advisory-fee-structure/", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "foundersib.com, Understanding M&A Advisory Fees | Founders Advisors", "url": "https://foundersib.com/2024/11/04/understanding-ma-advisory-fees/", "retrieved_at": "2026-10-11", "reason": "every candidate on the page was refused" }, { "source": "globallawexperts.com, Financial Adviser Fees Uk 2026: Essential Guide", "url": "https://globallawexperts.com/financial-adviser-fees-uk/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "imergeadvisors.com, M&A Advisor Fees | iMerge Advisors", "url": "https://imergeadvisors.com/ma-advisor-fees/", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "investmentbank.com, Investment Banking Fees: The Complete Guide to Fees in Mergers & Acquisitions", "url": "https://investmentbank.com/fees", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "livmo.com, Choosing a SaaS M&A Advisor - Livmo", "url": "https://livmo.com/blog/choose-saas-ma-advisor/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "livmo.com, Best SaaS M&A Advisory Firms: Lower Middle Market 2026", "url": "https://livmo.com/blog/saas-ma-advisory-firms/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "mnacommunity.com, M&A Fees by Deal Size: What to Expect in 2026", "url": "https://mnacommunity.com/insights/ma-fees-by-deal-size/", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "newowner.co.uk, NewOwner vs UK Business Brokers: Compare Fees | NewOwner", "url": "https://newowner.co.uk/blog/newowner-vs-business-brokers-uk-sell-business", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "nexusbridgebrokers.com, Best NJ Business Brokers 2026, Honest Comparison Guide", "url": "https://nexusbridgebrokers.com/best-nj-business-brokers-2026/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "nexusbridgebrokers.com, How Healthcare M&A Brokers Get Paid (Seller's Guide)", "url": "https://nexusbridgebrokers.com/blog/how-healthcare-ma-brokers-get-paid/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "praxisrock.com, Sell-Side M&A Advisory Fees in 2026 | Praxis Rock", "url": "https://praxisrock.com/insights/sell-side-advisory-fees", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "sellmybusinessusa.com, Business Broker Fees: The Complete 2025 Guide to Selling Your Business Costs", "url": "https://sellmybusinessusa.com/business-broker-fees-the-complete-2025-guide-to-selling-your-business-costs/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "sigmamergers.com, What Certifications and Licenses Do Business Brokers Need?", "url": "https://sigmamergers.com/what-certifications-and-licenses-do-business-brokers-need/", "retrieved_at": "2026-10-12", "reason": "read in full and no accepted figure on the page" }, { "source": "tworldfranchise.com, Do You Need a Real Estate License to Be a Business Broker?", "url": "https://tworldfranchise.com/blog/do-you-need-a-real-estate-license-to-be-a-business-broker/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "ukbusinessbrokers.com, Business Broker Fees, How Much Do Business Brokers Charge?", "url": "https://ukbusinessbrokers.com/broker-fees-how-much-do-business-brokers-charge/", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "venturefirst.com, An Introduction to Success Fees and the Lehman Formula", "url": "https://venturefirst.com/an-introduction-to-success-fees-and-the-lehman-formula/", "retrieved_at": "2026-11-11", "reason": "every candidate on the page was refused" }, { "source": "venturenorthgroup.com, What Does a Business Broker Charge? Business Broker Fees", "url": "https://venturenorthgroup.com/business-broker-charge/", "retrieved_at": "2026-09-11", "reason": "every candidate on the page was refused" }, { "source": "windsordrake.com, Best SaaS M&A Advisory Firms 2026: Software Sell-Side Advisors Ranked", "url": "https://windsordrake.com/best-saas-ma-advisory-firms/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "733park.com, What Does an M&A Advisor Charge to Sell a Company? | 733Park", "url": "https://www.733park.com/insights/what-does-an-ma-advisor-charge/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "afpbb.com.au, Business Broking Fees", "url": "https://www.afpbb.com.au/Resources/BusinessBrokingFees.aspx", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "axial.net, Understanding Investment Banking Fee Structures", "url": "https://www.axial.net/forum/investment-banking-fee-structures/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "axial.net, What Does an M&A Advisor Charge?", "url": "https://www.axial.net/forum/what-does-an-ma-advisor-charge/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "axial.net, Firmex_Axial_MA_Fee_Guide.pdf", "url": "https://www.axial.net/wp-content/uploads/2022/12/Firmex_Axial_MA_Fee_Guide.pdf", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "bizquest.com, What Is the Lehman Formula? | BizQuest", "url": "https://www.bizquest.com/learn/article/what-is-lehman-scale/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "breakwaterma.com, How to Choose a Business Broker in Canada | 2026 Guide", "url": "https://www.breakwaterma.com/blog/business-broker-canada-guide", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "brentwood-growth.com, The 'Lehman Formula' Demystified: A Comprehensive Look at Transactional Fees", "url": "https://www.brentwood-growth.com/blog/business-valuations/the-lehman-formula-demystified-a-comprehensive-look-at-transactional-fees/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "businesstrade.com.au, What Commission Do Business Brokers Charge?", "url": "https://www.businesstrade.com.au/what-commission-do-business-brokers-charge", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "clearlyacquired.com, How Much Do Business Broker Fees Actually Cost in 2026?", "url": "https://www.clearlyacquired.com/blog/how-much-do-business-broker-fees-actually-cost-in-2026", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "corebb.com.au, How much are business broker fees? | Core Business Brokers", "url": "https://www.corebb.com.au/how-much-are-business-broker-fees/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "firmex.com, Canadian Edition of the M&A Fee Guide 2023", "url": "https://www.firmex.com/resources/reports-guides/canadian-ma-fee-guide-23/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "firmex.com, M&A Fee Guide 2024-2025, European Edition | Firmex VDR", "url": "https://www.firmex.com/resources/reports-guides/eu-fee-guide-25/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "firmex.com, M&A Fee Guide 2024-2025, Global Edition | Firmex VDR", "url": "https://www.firmex.com/resources/reports-guides/global-ma-fee-guide-25/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "firmex.com, M&A Fee Guide 2024-2025, North American Edition", "url": "https://www.firmex.com/resources/reports-guides/na-fee-guide-25/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "firmex.com, M&A Fee Guide 2024-2025, US Edition | Firmex VDR", "url": "https://www.firmex.com/resources/reports-guides/us-fee-guide-25/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "futureventures.ca, Understanding the Lehman Scale: A Guide for Effective Evaluation", "url": "https://www.futureventures.ca/insights/lehman-scale-guide-lehman-formula-double-lehman-and-modern-variations", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "kbscorporate.com, Business Brokers | The UK’s No.1 Business Sales Agents", "url": "https://www.kbscorporate.com/business-brokers/", "retrieved_at": "2026-10-12", "reason": "read in full and no accepted figure on the page" }, { "source": "kbscorporate.com, Sell Your Business | UK’s #1 Company Sales Experts", "url": "https://www.kbscorporate.com/sell-a-company/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "l40.com, M&A Advisor Fees for a Mid-Market Software Exit | L40°", "url": "https://www.l40.com/insights/m-a-advisor-fees-software-exit", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "midstreet.com, Business Broker Pricing and Fees When Selling a Business: The Ultimate Guide", "url": "https://www.midstreet.com/blog/business-broker-fees-when-selling-a-business", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "midstreet.com, The Top 6 Business Broker Franchises in the U.S.", "url": "https://www.midstreet.com/blog/business-broker-franchises", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "midstreet.com, What is the Double Lehman Scale? (With Examples)", "url": "https://www.midstreet.com/blog/double-lehman-scale-business-broker-commission", "retrieved_at": "2026-09-11", "reason": "every candidate on the page was refused" }, { "source": "nav.com, Business Broker Fees: A Complete Guide for Small Business Owners", "url": "https://www.nav.com/blog/how-much-do-brokers-charge-to-sell-a-business-4232647/", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "peony.ink, M&A Advisor Fees: Lehman Scale, Retainers & Hidden Clauses (2026)", "url": "https://www.peony.ink/blog/ma-advisor-fees", "retrieved_at": "2026-11-11", "reason": "every candidate on the page was refused" }, { "source": "rejigg.com, How Much Do Business Brokers Charge? The Real Cost at Every Deal Size", "url": "https://www.rejigg.com/articles/business-broker-commission-rates", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "revenuerocket.com, M&A Fees", "url": "https://www.revenuerocket.com/ma-fees-what-to-expect-before-during-and-after-close/", "retrieved_at": "2026-09-11", "reason": "every candidate on the page was refused" }, { "source": "scalesuite.com.au, Business Broker Fees: What Selling Costs", "url": "https://www.scalesuite.com.au/resources/business-broker-fees", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "sellingmybusiness.co.uk, How much does it cost to sell a business?", "url": "https://www.sellingmybusiness.co.uk/articles/selling/how-much-does-it-cost-to-sell-a-business", "retrieved_at": "2026-11-11", "reason": "every candidate on the page was refused" }, { "source": "sellingmybusiness.co.uk, Understanding Broker Fee Agreements, Selling My Business", "url": "https://www.sellingmybusiness.co.uk/articles/selling/selling-a-business-understanding-a-business-broker-fee-agreement", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "swyftfilings.com, What Is a Business Broker? | Swyft Filings", "url": "https://www.swyftfilings.com/broker-license/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "thenonexecutive.com, M&A Fee Guide - TheNonExec® Boutique M&A", "url": "https://www.thenonexecutive.com/ma-fee-guide/", "retrieved_at": "2026-09-12", "reason": "every candidate on the page was refused" }, { "source": "uscita.co.uk, Fees for selling a business: the complete list", "url": "https://www.uscita.co.uk/fees-for-selling-a-business-the-complete-list/", "retrieved_at": "2026-11-10", "reason": "every candidate on the page was refused" }, { "source": "wallstreetoasis.com, M&A Advisory Fees in Banking | Wall Street Oasis", "url": "https://www.wallstreetoasis.com/forum/investment-banking/ma-advisory-fees-in-banking", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "wallstreetoasis.com, What's the typical sell-side transaction fee at middle market firms?", "url": "https://www.wallstreetoasis.com/forum/investment-banking/whats-the-typical-sell-side-transaction-fee-at-middle-market-firms", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" }, { "source": "websiteclosers.com, Do Business Brokers Need a License? Legal Requirements Explained", "url": "https://www.websiteclosers.com/resources/does-it-really-matter-that-business-brokers-are-not-licensed/", "retrieved_at": "2026-10-12", "reason": "every candidate on the page was refused" } ], "sources": [ { "url": "https://1719partners.com/how-much-do-brokers-charge-to-sell-a-business/", "label": "1719partners.com, How Much do Brokers Charge to Sell a Business: is it Worth it?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://abercornbusinesssales.com/business-sale-guarantee.php", "label": "abercornbusinesssales.com, No Upfront Fees Guranteed", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://abercornbusinesssales.com/cost-to-sell-my-business.php", "label": "abercornbusinesssales.com, No Upfront Fees Guranteed To Sell Your Business", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://acquira.com/brokers-commission-rates/", "label": "acquira.com, brokers commission rates", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://auxocapitaladvisors.com/lehman-formula-calculator/", "label": "auxocapitaladvisors.com, M&A Advisor Fee Calculator | Lehman Formula & Blended %", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://auxocapitaladvisors.com/m-a-advisor-fees-incentives-deal-outcomes/", "label": "auxocapitaladvisors.com, M&A Advisor Fees & Incentives: 2026 Guide | Auxo Capital", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://auxocapitaladvisors.com/m-a-advisor-fees-modified-lehman/", "label": "auxocapitaladvisors.com, Lehman Formula & M&A Advisor Fees: 2026 Guide | Auxo", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://aventis-advisors.com/ma-advisor-fees/", "label": "aventis-advisors.com, M&A Fees in 2024 | Aventis Advisors", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://becomebusinessbroker.com/is-a-business-broker-licence-required/", "label": "becomebusinessbroker.com, Business Broker License Requirements 2026: US & Global Guide", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://bizadvisoryboard.com/ma-advisory-fees/", "label": "bizadvisoryboard.com, How Much Do M&A Advisors Charge? A Complete Guide by Deal Size", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://bonzabfs.com.au/blog/how-to-sell-a-business-australia", "label": "bonzabfs.com.au, how to sell a business australia", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://bsale.com.au/article-display/how-much-is-a-business-brokers-commission,474", "label": "bsale.com.au, How much is a business brokers commission?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://businessbrokers.com.au/how-much-do-business-brokers-charge/", "label": "businessbrokers.com.au, How Much Do Business Brokers Charge? - Business Brokers", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://businessbrokersguide.us.com/business-broker-commission-rates/", "label": "businessbrokersguide.us.com, Business Broker Commission Rates: What You'll Actually Pay", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://chelseacorporate.com/2025/03/how-much-does-it-cost-to-sell-a-business-uk/", "label": "chelseacorporate.com, How Much Does It Cost to Sell a Business (UK)?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://corporatefinanceinstitute.com/resources/valuation/success-fee/", "label": "corporatefinanceinstitute.com, Success Fee - Defintion, How it Works, Benefits, Limits", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://ctacquisitions.com/business-broker-fees-2026-breakdown/", "label": "ctacquisitions.com, Business Broker Fees in 2026: Full Breakdown of Lehman, Modified Lehman, and the", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://ctacquisitions.com/how-much-does-a-business-broker-charge-to-sell-your-business/", "label": "ctacquisitions.com, How Much Does a Business Broker Charge? (2026)", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://ctacquisitions.com/m-and-a-advisor-fee-structure/", "label": "ctacquisitions.com, M&A Advisor Fee Structure Explained: 2026 Retainers, Success Fees, and Tail Prov", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://ctacquisitions.com/m-and-a-advisor-fees-2026/", "label": "ctacquisitions.com, M&A Advisor Fees in 2026: Retainer, Success Fee, and the Lehman Scale Explained", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://ctacquisitions.com/ma-advisor-for-saas-business/", "label": "ctacquisitions.com, M&A Advisor for SaaS Business Owners: 2026 Sell-Side Guide", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://dealroom.net/blog/buy-side-m-a-fees", "label": "dealroom.net, Buy", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://divestopedia.com/2/8036/sale-process/investment-bankers/a-summary-of-ma-fees-for-sell-side-transactions", "label": "divestopedia.com, A Summary of M&A Fees for Sell", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://emanda.app/guide/business-broker-fees-australia", "label": "emanda.app, Business Broker Fees in Australia: What You'll Actually Pay", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://firstpagesage.com/business/ma-advisory-fee-structure/", "label": "firstpagesage.com, M&A Advisory Fee Structure: 2025 Report, First Page Sage", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://foundersib.com/2024/11/04/understanding-ma-advisory-fees/", "label": "foundersib.com, Understanding M&A Advisory Fees | Founders Advisors", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://globallawexperts.com/financial-adviser-fees-uk/", "label": "globallawexperts.com, Financial Adviser Fees Uk 2026: Essential Guide", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://hornblower-businesses.co.uk/fees-for-selling-a-business/", "label": "hornblower-businesses.co.uk, Fees for selling a business | Hornblower Business Brokers UK", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://imergeadvisors.com/ma-advisor-fees/", "label": "imergeadvisors.com, M&A Advisor Fees | iMerge Advisors", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://investmentbank.com/fees", "label": "investmentbank.com, Investment Banking Fees: The Complete Guide to Fees in Mergers & Acquisitions", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://livmo.com/blog/choose-saas-ma-advisor/", "label": "livmo.com, Choosing a SaaS M&A Advisor - Livmo", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://livmo.com/blog/saas-ma-advisory-firms/", "label": "livmo.com, Best SaaS M&A Advisory Firms: Lower Middle Market 2026", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://mnacommunity.com/insights/ma-fees-by-deal-size/", "label": "mnacommunity.com, M&A Fees by Deal Size: What to Expect in 2026", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://morganandwestfield.com/knowledge/business-broker-and-ma-advisor-fees-a-comprehensive-guide/", "label": "morganandwestfield.com, business broker and ma advisor fees a comprehensive guide", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://newowner.co.uk/blog/newowner-vs-business-brokers-uk-sell-business", "label": "newowner.co.uk, NewOwner vs UK Business Brokers: Compare Fees | NewOwner", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://nexusbridgebrokers.com/best-nj-business-brokers-2026/", "label": "nexusbridgebrokers.com, Best NJ Business Brokers 2026, Honest Comparison Guide", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://nexusbridgebrokers.com/blog/how-healthcare-ma-brokers-get-paid/", "label": "nexusbridgebrokers.com, How Healthcare M&A Brokers Get Paid (Seller's Guide)", "license": "the publisher's own terms; 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quoted for reporting and comment" }, { "url": "https://synergybb.com/blog/what-fees-are-paid-for-selling-a-business/", "label": "synergybb.com, What Are The Fees For Selling A Business? | Business Brokers", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://tworldfranchise.com/blog/do-you-need-a-real-estate-license-to-be-a-business-broker/", "label": "tworldfranchise.com, Do You Need a Real Estate License to Be a Business Broker?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://ukbusinessbrokers.com/broker-fees-how-much-do-business-brokers-charge/", "label": "ukbusinessbrokers.com, Business Broker Fees, How Much Do Business Brokers Charge?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://venturefirst.com/an-introduction-to-success-fees-and-the-lehman-formula/", "label": "venturefirst.com, An Introduction to Success Fees and the Lehman Formula", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://venturenorthgroup.com/business-broker-charge/", "label": "venturenorthgroup.com, What Does a Business Broker Charge? Business Broker Fees", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://windsordrake.com/best-saas-ma-advisory-firms/", "label": "windsordrake.com, Best SaaS M&A Advisory Firms 2026: Software Sell-Side Advisors Ranked", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.733park.com/insights/what-does-an-ma-advisor-charge/", "label": "733park.com, What Does an M&A Advisor Charge to Sell a Company? | 733Park", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.afpbb.com.au/Resources/BusinessBrokingFees.aspx", "label": "afpbb.com.au, Business Broking Fees", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.axial.net/forum/investment-banking-fee-structures/", "label": "axial.net, Understanding Investment Banking Fee Structures", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.axial.net/forum/what-does-an-ma-advisor-charge/", "label": "axial.net, What Does an M&A Advisor Charge?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.axial.net/wp-content/uploads/2022/12/Firmex_Axial_MA_Fee_Guide.pdf", "label": "axial.net, Firmex_Axial_MA_Fee_Guide.pdf", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.baton.com/resources/own/average-commission-for-business-broker", "label": "baton.com, What’s the Average Business Broker Commission?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.baton.com/resources/own/business-broker-fees", "label": "baton.com, How much do business brokers charge: Breaking down pricing and fees", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.bizquest.com/learn/article/what-is-lehman-scale/", "label": "bizquest.com, What Is the Lehman Formula? | BizQuest", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.breakwaterma.com/blog/business-broker-canada-guide", "label": "breakwaterma.com, How to Choose a Business Broker in Canada | 2026 Guide", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.brentwood-growth.com/blog/business-valuations/the-lehman-formula-demystified-a-comprehensive-look-at-transactional-fees/", "label": "brentwood-growth.com, The 'Lehman Formula' Demystified: A Comprehensive Look at Transactional Fees", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.businesstrade.com.au/what-commission-do-business-brokers-charge", "label": "businesstrade.com.au, What Commission Do Business Brokers Charge?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.clearlyacquired.com/blog/how-much-do-business-broker-fees-actually-cost-in-2026", "label": "clearlyacquired.com, How Much Do Business Broker Fees Actually Cost in 2026?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.corebb.com.au/how-much-are-business-broker-fees/", "label": "corebb.com.au, How much are business broker fees? | Core Business Brokers", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.firmex.com/resources/reports-guides/canadian-ma-fee-guide-23/", "label": "firmex.com, Canadian Edition of the M&A Fee Guide 2023", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.firmex.com/resources/reports-guides/eu-fee-guide-25/", "label": "firmex.com, M&A Fee Guide 2024-2025, European Edition | Firmex VDR", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.firmex.com/resources/reports-guides/global-ma-fee-guide-25/", "label": "firmex.com, M&A Fee Guide 2024-2025, Global Edition | Firmex VDR", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.firmex.com/resources/reports-guides/na-fee-guide-25/", "label": "firmex.com, M&A Fee Guide 2024-2025, North American Edition", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.firmex.com/resources/reports-guides/us-fee-guide-25/", "label": "firmex.com, M&A Fee Guide 2024-2025, US Edition | Firmex VDR", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.futureventures.ca/insights/lehman-scale-guide-lehman-formula-double-lehman-and-modern-variations", "label": "futureventures.ca, Understanding the Lehman Scale: A Guide for Effective Evaluation", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.kbscorporate.com/business-brokers/", "label": "kbscorporate.com, Business Brokers | The UK’s No.1 Business Sales Agents", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.kbscorporate.com/sell-a-company/", "label": "kbscorporate.com, Sell Your Business | UK’s #1 Company Sales Experts", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.l40.com/insights/m-a-advisor-fees-software-exit", "label": "l40.com, M&A Advisor Fees for a Mid-Market Software Exit | L40°", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.midstreet.com/blog/business-broker-fees-when-selling-a-business", "label": "midstreet.com, Business Broker Pricing and Fees When Selling a Business: The Ultimate Guide", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.midstreet.com/blog/business-broker-franchises", "label": "midstreet.com, The Top 6 Business Broker Franchises in the U.S.", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.midstreet.com/blog/double-lehman-scale-business-broker-commission", "label": "midstreet.com, What is the Double Lehman Scale? (With Examples)", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.nav.com/blog/how-much-do-brokers-charge-to-sell-a-business-4232647/", "label": "nav.com, Business Broker Fees: A Complete Guide for Small Business Owners", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.peony.ink/blog/ma-advisor-fees", "label": "peony.ink, M&A Advisor Fees: Lehman Scale, Retainers & Hidden Clauses (2026)", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.rejigg.com/articles/business-broker-commission-rates", "label": "rejigg.com, How Much Do Business Brokers Charge? The Real Cost at Every Deal Size", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.revenuerocket.com/ma-fees-what-to-expect-before-during-and-after-close/", "label": "revenuerocket.com, M&A Fees", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.scalesuite.com.au/resources/business-broker-fees", "label": "scalesuite.com.au, Business Broker Fees: What Selling Costs", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.sellingmybusiness.co.uk/articles/selling/how-much-does-it-cost-to-sell-a-business", "label": "sellingmybusiness.co.uk, How much does it cost to sell a business?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.sellingmybusiness.co.uk/articles/selling/selling-a-business-understanding-a-business-broker-fee-agreement", "label": "sellingmybusiness.co.uk, Understanding Broker Fee Agreements, Selling My Business", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.swyftfilings.com/broker-license/", "label": "swyftfilings.com, What Is a Business Broker? | Swyft Filings", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.thenonexecutive.com/ma-fee-guide/", "label": "thenonexecutive.com, M&A Fee Guide - TheNonExec® Boutique M&A", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.uscita.co.uk/fees-for-selling-a-business-the-complete-list/", "label": "uscita.co.uk, Fees for selling a business: the complete list", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.wallstreetoasis.com/forum/investment-banking/ma-advisory-fees-in-banking", "label": "wallstreetoasis.com, M&A Advisory Fees in Banking | Wall Street Oasis", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.wallstreetoasis.com/forum/investment-banking/whats-the-typical-sell-side-transaction-fee-at-middle-market-firms", "label": "wallstreetoasis.com, What's the typical sell-side transaction fee at middle market firms?", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.websiteclosers.com/resources/does-it-really-matter-that-business-brokers-are-not-licensed/", "label": "websiteclosers.com, Do Business Brokers Need a License? Legal Requirements Explained", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.ibba.org/about/", "label": "ibba.org", "license": "the publisher's own terms; quoted for reporting and comment" }, { "url": "https://www.firmex.com/resources/ma-fee-guide-2025/", "label": "firmex.com", "license": "the publisher's own terms; quoted for reporting and comment" } ], "methodology": "Every row is a verbatim sentence read from the named source's own page through our fetch service on the date shown, hash-pinned to the stored read (the sha of the page's visible text; the raw page is mirrored to R2). 7 of the 84 named sources that could be read published a usable figure; 77 published none and are recorded as not published, never filled in; 4 could not be read (blocked, dead or unreachable) and count nowhere. The headline figures (median, minimum, maximum, quartiles) are over ONE figure per source in % (a source's median where its page yielded several accepted sentences), so N counts sources, never sentences; 972 candidate sentence(s) were refused by a reviewer with the reason recorded. The fuller derivation this dataset is chartered to grow into (not yet what the figures above are; they are each source's own published figure as read): the EFFECTIVE fee rate curve, which no publisher in this market draws: for every adviser that publishes a scale, the fee its own scale produces at each deal value from $500k to $250m, with its stated minimum fee and retainer credit applied, giving median, quartile and range of effective percent by deal size band - beside the share of advisers publishing a scale, publishing a minimum, publishing a retainer, and publishing nothing at all (the count that is our own reading, not a survey's); the formula mix (Lehman, Double Lehman, modified Lehman, flat percent, tiered accelerator) by adviser tier and jurisdiction; the deal value at which each adviser's minimum stops binding, which is the single number a seller under $10m needs and the market never states; and changed-since, because a scale that moves is news in a market where the conventions are decades old", "embed": "

4 percent

median published figure, M&A Advisor Fee Index, across 7 sources, read 11 November 2026

Source: madvisorfees.com M&A Advisor Fee Index
" }