Iowa Business Broker & M&A Advisor License Requirements
Becoming a licensed business broker or M&A advisor in Iowa requires meeting specific education, exam, and experience standards. This guide covers every requirement, fee, and regulatory pathway for Iowa as of 2025–2026.
License Type Required in Iowa Real estate broker license required. Iowa business brokers operate under the Real Estate Broker License, regulated by the Iowa Real Estate Commission.
Education Requirements
Pre-license (salesperson): 60 hours of approved coursework
Experience Required 2 years as licensed salesperson/broker.
Exam & Licensing Fees
Exam: PSI national + Iowa state exam
Application fee: $170
License fee: $60
Exam note: 36 hrs CE required per 3-year renewal cycle
Continuing Education 36 hours per 3 years required to maintain active Iowa broker license. Include mandatory ethics and law topics.
M&A Advisor Requirements in Iowa Iowa's economy is dominated by agriculture, food processing, and insurance. Business brokerage follows standard real estate licensing. Iowa Insurance Division handles some financial services oversight. FINRA Series 79 applies for M&A advisors working on equity or securities transactions above $10M.
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 Iowa 1. Complete 60 hrs pre-license coursework 2. Pass the PSI national + Iowa state exam 3. Obtain your Iowa salesperson/associate license 4. Work under a licensed broker for 2 years as licensed salesperson/broker 5. Complete 60 hrs broker pre-license + advanced courses and pass the broker exam 6. Pursue CBI certification via IBBA to establish market credibility