The lack of preparation among some brokers marketing larger SMB deals (>$750K of SDE) is striking. Too often: -- They can't confidently explain historical performance. -- They aren't prepared to address volatility in the financials. -- Basic diligence questions are met with, "Let me ask the seller." Meanwhile, buyers are becoming more sophisticated, and QoE reviews are quickly becoming table stakes for businesses valued above $3 million. This raises an interesting question: Is the traditional business broker model equipped for where the market is heading, or will MM and LMM investment bankers increasingly move into the upper end of the SMB market and win share by offering deeper transaction expertise and stronger deal execution?