whats the difference between these two types of firms? I cold-called an "advisory" firm today, a boutique and they asked for my resume. Is one a "dealer-broker" and the other one not? Whats the difference in job paths? If I intern at an i-Banking advisory firm, can I get the necessary experience to transfer to the BB or BB-like boutiques?
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An advisory firm focuses mainly on, well, giving advice to a firm, typically in the form of M&A (in good times) or restructuring (in bad times). A full blown investment bank has a much broader suite of services. The IB arm of an investment bank will have advisory services, but may also be involved in origination, underwriting, and capital raising initiatives for firms.
Can anyone explain the difference between a consulting/advisory firm, and an IB? (Originally Posted: 08/28/2014)
Often times I read the news and see "company x was the financial advisor on transaction y for company z."
Is the main difference between an advisory firm and an IBD simply the IBD is able to raise capital for company x AND provide advisory services, while the other can only provide advisory services?
As you could probably tell by now my knowledge in these areas are grey and I'm having a bit of a hard time to really understand the role of the parties involved in an M&A deal.
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