Vermont Business Broker & M&A Advisor License Requirements
Becoming a licensed business broker or M&A advisor in Vermont requires meeting specific education, exam, and experience standards. This guide covers every requirement, fee, and regulatory pathway for Vermont as of 2025–2026.
License Type Required in Vermont Real estate broker license required. Vermont business brokers operate under the Real Estate Broker License, regulated by the Vermont Real Estate Commission.
Education Requirements
Pre-license (salesperson): 40 hours of approved coursework
Experience Required 2 years as licensed salesperson/broker.
Exam & Licensing Fees
Exam: PSI national + Vermont state exam
Application fee: $100
License fee: $125
Exam note: Vermont has among the lowest hour requirements — 40 hrs salesperson + 24 hrs broker
Continuing Education 16 hours per 2 years required to maintain active Vermont broker license. Include mandatory ethics and law topics.
M&A Advisor Requirements in Vermont Vermont has a small but active business economy in manufacturing, tourism, and food/beverage. Vermont has a narrow exemption for purely business-asset transactions not involving real property. Vermont Department of Financial Regulation (DFR) oversees securities. The SEC M&A Broker exemption applies for qualifying private company sales.
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 Vermont 1. Complete 40 hrs pre-license coursework 2. Pass the PSI national + Vermont state exam 3. Obtain your Vermont salesperson/associate license 4. Work under a licensed broker for 2 years as licensed salesperson/broker 5. Complete 24 hrs broker pre-license coursework and pass the broker exam 6. Pursue CBI certification via IBBA to establish market credibility