M&A Services review: agency valuation, M&A advice and fees
M&A Services is an insurance investment bank. It sells and buys agencies, wholesalers and MGAs for its clients, writes formal valuations and raises money to fund deals.
It works with retail and wholesale agencies, MGAs and carriers in the U.S. and abroad. All fees are quoted.
- Best for
- Owners who want a controlled auction, and buyers who need acquisition financing
- Works for
- Sellers and buyers, in separate mandates
- Services
- Sale and purchase advice, valuations, opinion letters and financing
- Agency size
- Financing for agencies of all sizes
- Valuation fee
- Quote only
Our take
M&A Services fits an owner who wants a structured auction and may need financing on either side of the deal. It markets an agency with a sale book and an anonymous profile, screens buyers and runs diligence in an online data room.
It also raises debt and equity through its own broker-dealer for purchases, partner buyouts and refinancing. That suits a buyer or an inside successor who needs a loan.
It acts only as an advisor, never as a buyer itself. It does take buyer and seller mandates, so ask which side it is on in yours.
Pros
- Controlled auction with buyer screening and an online data room
- Acquisition loans and equity raised through its own broker-dealer
- Formal valuations and opinion letters for boards and owners
- Never buys agencies itself
Cons
- All fees are quoted
- Works for buyers and sellers
- Its newest listed deal is from late 2024
- Valuation adjustments aren't described in detail
Who they work for
Sellers
Sell-side mandates cover preparation, marketing, buyer screening, a controlled auction and diligence through closing.
Buyers
Buy-side mandates cover target research, evaluation, valuation and help negotiating and closing.
Advisor, never buyer. M&A Services doesn't buy agencies, but it does represent buyers in other deals and arranges loans through its broker-dealer. Ask how it is paid on the financing as well as the sale.
Services
| Service | What you get |
|---|---|
| Selling an agency | Pro forma financials, a marketing plan, a sale book and blind profile, buyer screening, a controlled auction and diligence |
| Buying an agency | Target research from its own databases, evaluation, valuation, negotiation and closing |
| Valuations | Formal valuations and opinion letters for taxes, succession and deals, including intangible asset values |
| Financing | Debt and equity for purchases, partner buyouts and buy-ins and refinancing |
| Board advisory | Valuations for boards weighing mergers, sales, capital raises or an offer they didn't ask for |
| Renewal rights | Values and sells a carrier's right to renew a block of policies, for property and casualty and life carriers |
Agencies they work with
- Agency size
- No minimum published. Financing serves agencies of all sizes
- Types
- Retail and wholesale agencies, MGAs and MGUs, claims administrators, program administrators and carriers
- Where
- United States and abroad, with offices in New York, Florida, Connecticut, Georgia and the Cayman Islands
How they value an agency
- Method
- Key financial and operating measures checked against closed and pending deals and the asking prices of agencies for sale
- Earnings measure
- Pro forma financial statements built while preparing the sale
- What adjusts the value
- Financial discipline, clean data, growth plans, long-term stability and market demand
Terms on this page in plain words
- Success fee
- The advisor's fee that comes due only when a deal closes
- Retainer
- An advance or monthly fee for the advisor's time
- Tail
- A set period after the agreement ends when you still owe the fee if you sell to a buyer the advisor introduced
Valuation reports, cost and timing
- Report types
- Formal valuation, opinion letter, pro forma statements, sale book, blind profile and an offering memorandum for financing
- How it's priced
- Quote for each job
Selling your agency with them
Preparation
M&A Services builds pro forma statements and a marketing plan.
Marketing
It writes a confidential sale book and a blind profile that hides the agency's name.
Buyer screening
It pre-screens buyers before they see details.
Controlled auction
Buyers bid in a set process so you can compare offers.
Diligence and closing
It runs the buyer's checks in an online data room through closing.
Deal structure advice
M&A Services advises on price and structure in sales and purchases. It can also raise the debt or equity that pays for a deal.
Succession and after the sale
For inside handoffs, M&A Services writes valuations for succession planning and raises money for partner buyouts and buy-ins.
Credentials and transactions
- Securities firm
- Merger & Acquisition Capital Services, LLC, a FINRA and SIPC member
- Licenses
- Jason C. Murgio and Chris M. Hughes hold securities licenses for investment banking work
- Affiliations
- Target Markets, Wholesale & Specialty Insurance Association and AAIMCO
Recent transactions
| Deal | Year | Role |
|---|---|---|
| Grandview Brokerage to World Insurance Associates | 2024 | Only advisor to the seller |
| INF and HOP to Integrated Specialty Coverages | 2024 | Seller advisor |
| The Wooditch Company to Hub International | 2023 | Seller advisor |
| Georgia Pines Agency to Choice Financial Group | 2022 | Only advisor to the seller |
| Northeast National Brokerage to Integrated Specialty Coverages | 2022 | Only advisor to the seller |
Confidentiality
- Buyer screening
- Buyers are pre-screened before they see details
- Anonymous marketing
- A blind profile describes the agency without naming it
- Data room
- Diligence runs in an online data room
Fees and engagement terms
M&A Services doesn't publish its retainer, success fee, expenses, exclusivity or tail terms.
Ask for these in writing
- The success fee and how deal value is measured
- Any separate fee for arranging financing
- Retainer and expenses
- Length of exclusivity and the tail period
M&A Services alternatives
- MarshBerryQuote onlyInvestment bank with four valuation scopes
- Dowling HalesFees not publishedInvestment bank with many 2026 sales listed
- Springtree GroupFree valuation quoteSmaller agencies, with Small Business Administration and commission-based loans
- Reagan ConsultingFees not publishedSays how its success fees are set
- Sica | FletcherFees not publishedA founding partner leads every deal
See every option in insurance agency valuation.
Frequently asked questions
How much does M&A Services charge?
It quotes each job. No valuation price or success fee rate is on its site.
Does M&A Services represent buyers or sellers?
Both, in separate mandates. It acts only as an advisor and never buys agencies itself.
Can M&A Services help finance a purchase?
Yes. It raises debt and equity through its broker-dealer for purchases, partner buyouts and buy-ins and refinancing.
How does it sell an agency?
Through a controlled auction: a sale book and blind profile, pre-screened buyers and diligence in an online data room.
How we researched this review. We based this review on the terms and product pages published by M&A Services, reviewed in October 2026, together with our team's experience working with insurance agents and agency owners since 2008.
Corrections
Vendors change their pricing all the time and they don't email us when they do. So if you see a price on here that's gone up, a plan M&A Services quit selling or a contract term that reads different now, let us know and send the link to the page where M&A Services has it. Somebody here pulls up that page and checks it before we change anything on ours.