John Zayac, BIEF Chairperson shared, “Mike’s
contributions to the industry were extensive, and
he was the energy and grease behind Business
Intermediary Education Foundation (BIEF)…Mike did
90% of all the work on this project and never gave up...
yes, we worked a team but Mike worked tirelessly to
get this done for the industry even though he has a
security license…it was the right thing to do.”
A FEDERAL WIN—AND WORK STILL AHEAD
With the federal law now in place, the industry
has turned its focus to the next phase: working
with individual states to align their regulations
and create a consistent national standard. The
Business Intermediary Education Fund (BIEF) and
its partners continue to engage with state legislators
and regulators to advocate for adoption of state-level
exemptions that mirror the federal framework. This
coordinated effort will help eliminate remaining
regulatory inconsistencies and further legitimize
business brokerage as a critical part of the small
business economy.
A LASTING LEGACY
The Broker Simplification Act is more than a policy
change—it is a reflection of Mike Ertel’s vision and
determination. It stands as a tribute to his belief in the
profession and his desire to see brokers empowered
to serve small business owners without unnecessary
regulatory barriers.
The IBBA and the entire business brokerage
community honor Mike’s legacy with immense
gratitude. His impact will be felt for generations, and
the path he forged continues to guide the work ahead.
For the most recent updates and resources, please refer
to the following:
• Latest PowerPoint Slides
• Recorded Webinar