When we add an M&A advisor to Mergr - to help users better sort through and identify them - one attribute we tag is Size - these include Bulge Bracket, Large, Middle-Market, Boutique, and Broker.

To help best understand how we classify Boutique financial advisors or investments, here's our definition.

A boutique investment bank is an advisor that provides investment banking services but typically operates on a smaller scale than large, full-service banks. Boutiques often specialize in a narrow set of activities—most commonly mergers and acquisitions (M&A) advisory, capital raising, restructuring, or industry-focused advisory—rather than offering the full suite of services such as trading, lending, and research that bulge-bracket banks provide. They may be regional in scope, sector-focused (e.g., technology, healthcare, energy), or transaction-focused, with leaner teams that allow them to operate more nimbly and cultivate deep expertise in specific markets.

The classification “boutique” can indicate a number of things about the firm. It may suggest a greater specialization and personalized client service, as smaller teams often allow senior bankers to stay directly involved in transactions. It can also imply that the firm is independent and not tied to a larger financial institution, which some clients view as a benefit when seeking conflict-free advice. On the other hand, being boutique may indicate fewer resources in terms of global reach or ancillary services. As a result, boutiques tend to compete by offering focus, agility, and expertise rather than scale.

Searching for these advisors is straightforward - just check the 'Boutique' box when on the M&A Advisors Search page.