No license stands behind the phrase M&A specialist, so it means whatever the person using it wants it to mean. The way to make it meaningful is to ask for four specific proofs, each of which is easy to give if true and impossible to fake convincingly.
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Proof one and two: transactions and references
Closed transactions in your sector at your size within the last two years, described specifically enough to be recognisable, and two sellers who will take a call. Ask those sellers what surprised them and what they would do differently. That conversation is worth more than every page of the pitch document.
Proof three: the buyer approach
How many buyers will be approached, split between funds, strategic acquirers and individuals, and how many of them the team has transacted with recently. A specialist's value is that the phone gets answered, and that is a claim with a number attached.
Proof four: the terms in writing
Fee scale, minimum, tail, termination right and who does the work, all in the engagement letter rather than in conversation. A specialist confident in their service writes it down. Everything a seller later regrets in this market was agreed verbally and remembered differently.
Questions people ask about M&A specialist
Is there a qualification for M&A specialists?
Trade bodies offer designations that require coursework and sometimes evidence of closed deals. They signal training rather than competence, and no license governs the title itself.
Does sector specialism matter more than size specialism?
Usually yes for the buyer list, and size specialism matters for the process. A firm that does your sector at your size is the target.
What does one cost?
A retainer plus a declining success fee with a minimum. Published US commissions on this site run from 5% to 15% across firms that publish anything at all.