Maryland Business Broker & M&A Advisor License Requirements
Becoming a licensed business broker or M&A advisor in Maryland requires meeting specific education, exam, and experience standards. This guide covers every requirement, fee, and regulatory pathway for Maryland as of 2025–2026.
License Type Required in Maryland Real estate broker license required. Maryland business brokers operate under the Real Estate Broker License, regulated by the Maryland Real Estate Commission.
Education Requirements
Pre-license (salesperson): 60 hours of approved coursework
Experience Required 3 years as licensed salesperson/broker.
Exam & Licensing Fees
Exam: PSI national + Maryland state exam
Application fee: $170
License fee: $180
Exam note: High broker hour requirement — 135 hrs is above national average
Continuing Education 15 hours per 2 years required to maintain active Maryland broker license. Include mandatory ethics and law topics.
M&A Advisor Requirements in Maryland Maryland's proximity to Washington D.C. creates an active government contracting M&A market. Business brokerage uses the real estate broker license as standard. Maryland Securities Division oversees securities activity. Mid-market M&A advisors commonly hold FINRA Series 79 affiliation.
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 Maryland 1. Complete 60 hrs pre-license coursework 2. Pass the PSI national + Maryland state exam 3. Obtain your Maryland salesperson/associate license 4. Work under a licensed broker for 3 years as licensed salesperson/broker 5. Complete 135 hrs broker pre-license coursework and pass the broker exam 6. Pursue CBI certification via IBBA to establish market credibility