New York Business Broker License — Requirements & M&A Advisor Guide 2025

New York Business Broker & M&A Advisor License Requirements

Becoming a licensed business broker or M&A advisor in New York requires meeting specific education, exam, and experience standards. This guide covers every requirement, fee, and regulatory pathway for New York as of 2025–2026.

License Type Required in New York
Real estate broker license required. New York business brokers operate under the Real Estate Broker License, regulated by the New York Department of State (DOS), Division of Licensing Services.

Education Requirements

• Pre-license (salesperson): 75 hours of approved coursework
• Broker upgrade: 120 hrs broker pre-license course

Experience Required
2 years as licensed salesperson/broker.

Exam & Licensing Fees

• Exam: PSI national + New York state exam
• Application fee: $185
• License fee: $185
• Exam note: New York requires 22.5 CE hrs per 2-year cycle including mandatory topics

Continuing Education
22.5 hours per 2 years required to maintain active New York broker license. Include mandatory ethics and law topics.

M&A Advisor Requirements in New York
New York City is the global capital of M&A. Business brokers use the NY DOS real estate broker license for main-street transactions. However, NYC's M&A market is predominantly served by FINRA-registered broker-dealers holding Series 79 (Investment Banking Representative) and Series 82 licenses. The New York State Department of Financial Services (NYDFS) oversees securities activity. For deals above $10M–$25M, FINRA broker-dealer affiliation is effectively required. The IBBA and AM&AA (Alliance of Merger & Acquisitions Advisors) are the primary professional bodies.

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 New York
1. Complete 75 hrs pre-license coursework
2. Pass the PSI national + New York state exam
3. Obtain your New York salesperson/associate license
4. Work under a licensed broker for 2 years as licensed salesperson/broker
5. Complete 120 hrs broker pre-license course and pass the broker exam
6. Pursue CBI certification via IBBA to establish market credibility