Montana Business Broker & M&A Advisor License Requirements
Becoming a licensed business broker or M&A advisor in Montana requires meeting specific education, exam, and experience standards. This guide covers every requirement, fee, and regulatory pathway for Montana as of 2025–2026.
License Type Required in Montana Real estate broker license required. Montana business brokers operate under the Real Estate Broker License, regulated by the Montana Board of Realty Regulation.
Education Requirements
Pre-license (salesperson): 70 hours of approved coursework
Broker upgrade: 60 hrs broker pre-license course
Experience Required 2 years as licensed salesperson/broker.
Exam & Licensing Fees
Exam: PSI national + Montana state exam
Application fee: $75
License fee: $50
Exam note: Montana has a business-only sale exemption from RE licensing for transactions involving only personal property and no real estate
Continuing Education 12 hours per 2 years required to maintain active Montana broker license. Include mandatory ethics and law topics.
M&A Advisor Requirements in Montana Montana has a narrow exemption from real estate licensing for purely business-asset transactions involving no real property. However, most professional business brokers maintain the real estate broker license for comprehensive deal coverage. Montana Securities Department oversees securities laws. FINRA applies for equity-related M&A transactions.
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 Montana 1. Complete 70 hrs pre-license coursework 2. Pass the PSI national + Montana state exam 3. Obtain your Montana salesperson/associate license 4. Work under a licensed broker for 2 years as licensed salesperson/broker 5. Complete 60 hrs broker pre-license course and pass the broker exam 6. Pursue CBI certification via IBBA to establish market credibility