What's the difference between a full-service financial services firm and an investment bank?
Are the two terms interchangeable (full-service financial services firm and an investment bank?)
Are the two terms interchangeable (full-service financial services firm and an investment bank?)
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Can't always use them interchangeably. Full service firms will offer both advisory and financial services, with things like S&T, ER, etc.
Some investment banks only do M&A for example.
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