Intermediary
A neutral term for the advisor running a sale process — a business broker, M&A advisor, or investment banker, depending on deal size.
Last updated September 5, 2026
Intermediary covers the range from Main Street business brokers to lower-middle-market M&A advisors. The label signals that the person represents a transaction, not that they are the buyer or seller. Scope, fee schedules, and process formality increase with enterprise value. Buyers should confirm whom the intermediary represents and whether they have an exclusive listing.