Tennessee Business Broker & M&A Advisor License Requirements
Becoming a licensed business broker or M&A advisor in Tennessee requires meeting specific education, exam, and experience standards. This guide covers every requirement, fee, and regulatory pathway for Tennessee as of 2025–2026.
License Type Required in Tennessee Real estate broker license required. Tennessee business brokers operate under the Real Estate Broker License, regulated by the Tennessee Real Estate Commission (TREC).
Education Requirements
Pre-license (salesperson): 90 hours of approved coursework
Experience Required 3 years as licensed salesperson/broker.
Exam & Licensing Fees
Exam: PSI national + Tennessee state exam
Application fee: $91
License fee: $91
Exam note: Tennessee uses 'Affiliate Broker' and 'Broker' terminology
Continuing Education 16 hours per 2 years required to maintain active Tennessee broker license. Include mandatory ethics and law topics.
M&A Advisor Requirements in Tennessee Tennessee (Nashville, Memphis) is a fast-growing M&A market, especially in healthcare, music, and hospitality. The TREC broker license covers business brokerage. Tennessee Department of Commerce's Securities Division oversees M&A securities activity. Nashville's healthcare M&A market is among the most active in the US.
Industry Certifications (Optional but Career-Critical)
CBI (Certified Business Intermediary) — International Business Brokers Association (IBBA)
M&AMI (M&A Master Intermediary) — IBBA, for deals $5M+
CMAP (Certified M&A Professional) — AM&AA
Series 79 (Investment Banking Representative) — FINRA, for larger M&A advisory
Series 82 (Private Securities Offerings Representative) — FINRA
How to Get Started as a Business Broker in Tennessee 1. Complete 90 hrs pre-license coursework 2. Pass the PSI national + Tennessee state exam 3. Obtain your Tennessee salesperson/associate license 4. Work under a licensed broker for 3 years as licensed salesperson/broker 5. Complete 90 hrs additional broker pre-license course and pass the broker exam 6. Pursue CBI certification via IBBA to establish market credibility