An independent advisory firm (sometimes less accurately called an advisory boutique)[1][2][3] is an investment bank that provides strategic and financial advice to clients primarily including corporations, financial sponsors, and governments. Revenues are typically generated by providing deal-specific advice related to mergers and acquisitions and financing. The WSJ noted in January 2016 that "boutique is a fuzzy label, defined as much by what these firms do (mostly give M&A advice) as what they don’t do (trading, lending, much in the way of underwriting)."[4]
- ^ Schäfer, Daniel (2012-03-28). "Investment banking: David versus Goliath". Financial Times. ISSN 0307-1766. Retrieved 2016-02-14.
- ^ Banker, The. "Moelis & Co: a boutique no longer?". www.thebanker.com. Retrieved 2016-02-14.
- ^ "The boutique bank boom". Fortune. Retrieved 2016-02-14.
- ^ Hoffman, Liz (2016-01-21). "Boutiques Ride M&A Surge to Record Year". WSJ Blogs - MoneyBeat. Retrieved 2016-02-14.