A new report from Firmex, published in partnership with Axial and Divestopedia, reveals that fewer middle-market M&A advisors across North America raised their fees in 2024 than in 2023, but more than half still increased their revenue.
TORONTO, Aug. 25, 2025 /PRNewswire-PRWeb/ -- A new report from Firmex, published in partnership with Axial and Divestopedia, reveals that fewer middle-market M&A advisors across North America raised their fees in 2024 than in 2023, but more than half still increased their revenue.
The 2024-2025 North American M&A Fee Guide offers a focused look at sell-side fee structures and advisor sentiment across the U.S., Canada, and Mexico. Based on survey data from 289 M&A advisors, the report explores how firms are adapting pricing, managing profitability, and reshaping client strategies amid an unpredictable deal environment.
Despite ongoing inflation and operational pressures, 30% of firms reported raising any type of fee in the past year, a slight decrease from 38% the year prior. Yet many firms still found ways to grow: half of all respondents reported revenue gains, and profitability levels remained stable, with 30% citing year-over-year increases.
"Some advisors will remain steadfast in their fees, while others will take on a more flexible approach," said Mark Wright, General Manager at Firmex. "In either case, a commonality advisors shared was a sense of optimism for the coming year."
Key insights from the report:
- A challenging market: Middle-market merger advisors found it harder to raise fee levels in 2024 than they did in 2023.
- Revenue holds firm: 50% of respondents grew revenue despite stagnant pricing.
- Profitability remains consistent: Nearly a third of firms saw profitability increase.
- Engagement and success fees inch upward: Both showed modest year-over-year gains.
Now in its 8th edition, the M&A Fee Guide is produced in partnership with Axial and Divestopedia. It includes recent market data as well as direct feedback from advisors navigating the current M&A landscape. The report data can help dealmakers benchmark their fee models, better position their services, and plan the second half of the year.
Read the full report on Firmex's website.
About Firmex Inc.
Firmex is the most trusted provider of virtual data rooms where more deals, diligence, and compliance get done. Since 2006, Firmex has supported over 223,000 companies worldwide by simplifying complex processes in M&A, private equity fundraising, litigation, and more. Whenever professionals need to share sensitive documents beyond the firewall, Firmex is their trusted partner, providing bank-level security and award-winning support. For teams using a data room more than once annually, a Firmex subscription provides simple, safe, and stress-free document sharing without hidden costs or complexity. For more information, please visit firmex.com.
Media Contact
Edward Stephen, Firmex, 1 416-840-4241, [email protected], https://www.firmex.com/
SOURCE Firmex
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