Why the right adviser matters

In the world of mergers and acquisitions, the adviser you choose isn’t just a facilitator, they are a partner, a navigator, and can be the difference between a transaction that delivers and one that stumbles and fails.

We’ve explored 5 key traits that are vital for an M&A adviser and by understanding them, you’ll be better placed to pick the right firm for your deal.

1. Commercial Rigour

Your M&A adviser must bring real commercial rigour from day one.

• They challenge assumptions (yours and the counterparty’s) rather than simply nodding along.

• They understand value creation, not just multiples. A business may look attractive on paper, but how will it perform post-integration?

• They frame risk and reward in language you understand: “Here is what you need to protect”, “Here are the upside levers”, “Here’s where the transaction process might trip up.”

Why does this matter?

Well, too many advisers fall into the trap of treating transactions as an abstract concept. A process to be managed by the numbers. 

A deal isn’t just a multiple times EBITDA, it’s the combination of people, culture, systems, cash flows, and ambition. The adviser who brings commercial rigour keeps you realistic, gives you clarity, and helps ensure that the deal you sign is the deal you can live with.

2. Strategic Alignment

An adviser must understand your strategy and personal objectives, both yours and the buyer’s or the seller’s, and align the transaction accordingly.

• They don’t just ask “what price can we get?” but “what deal fits your long-term objective?”

• They understand timing, market dynamics and positioning. When to move quickly; when to wait, when to walk away.

• They exercise judgment: recognising when a bid that looks promising on the face of it might expose you to integration risk or reputational damage.

Why does this matter?

Transactions are rarely repeat events, especially for owner-managed businesses. The adviser who keeps your strategic goal front and centre ensures you don’t make unnecessary compromises for short-term gain.

The right deal done for the wrong reason can be worse than no deal at all.

3. Execution-focused delivery

In M&A, ideas are easy; delivery is hard. The adviser must be operationally experienced and disciplined in execution.

• They manage process and project-plan: milestones, reporting, decision-points, negotiation phases.

• They coordinate the specialist inputs (legal, tax, commercial diligence, financing) seamlessly.

• They keep you updated; not just when good news arrives, but when risk emerges.

• They drive to close: deals can stall through inertia or indecision; a strong adviser keeps momentum alive.

Why does this matter?

 A clever strategy or valuation is no use if the deal never closes. Execution-risk is real. The adviser who brings structured delivery ensures that your deal isn’t just on paper, but in the bank (or firmly in your ownership).

4. Integrity and Trust-Based Relationships

It may sound obvious but it’s often the make-or-break. An adviser who brings integrity and builds trust will serve you far better than one who doesn’t.

• They are transparent: costs, conflicts, interests, potential downside.

• They act in your interests: sometimes that means advising you to walk away, or to accept less, because it’s the right outcome.

• They build relationships: with buyers, sellers, banks, advisers. A respected adviser opens doors; a mercenary one may close them.

• They are steady: maintain calm under pressure; hold confidentiality; manage expectations.

Why does this matter?

 M&A is inherently interpersonal: owners, management, boards, advisers, accountants, lawyers — all must align. If your adviser isn’t trusted, you’ll pay a price in time, cost and stress.

Trust enables better deal-making, smoother communication and fewer surprises.

5. Post-deal mindset and value realisation

Too many advisers stop at “signing the deal”. A great adviser thinks beyond the signature and looks ahead to maximise post deal outcomes.

• They ask: How will you integrate the business? How will you align incentives? What are the first 100 days?  What will you be paid to support a transition?

• They help you transition, ensuring the documentation supports delivery, the governance is in place, and the key people stay motivated.

• They consider value realisation: not only exit or ownership change but how you extract value over time — synergy capture, growth, improvement, equity stake in an acquirer and long-term service contracts.

Why does this matter?

The deal’s value is locked in only when you realise the benefits. If you miss mobilisation, spend years ironing out integration issues, or fail to align business culture, you may never see the value you anticipated.

The adviser who equips you for life after the deal gives you a genuine chance of success.

So how do you choose the right adviser?

In summary, selecting the right M&A adviser is about more than reputation or deal count. It’s about commercial rigour and understanding, strategic alignment, execution delivery, integrity, and a post-deal mindset.

If an adviser ticks all five boxes above, you’re far better placed to navigate the complexity of M&A, preserve value and achieve your goal. If they don’t, you may still get a deal — but you’ll be taking more risk, doing the heavy lifting yourself, and possibly arriving with fewer gains than you expected.

Ultimately, M&A is a moment of truth for a business. When you choose your adviser wisely, you set the stage for success, not just the closing date.