# Boutique Investment Bank

*Careers & Credentials — Finicade finance glossary*

A boutique investment bank offers advisory services without a balance sheet or a trading arm. Its pitch is independence: it isn't also lending to the acquirer or trading the target's shares, so its advice carries fewer conflicts. Boutiques have taken meaningful share of large M&A advisory work, and they typically pay analysts more while offering narrower exposure to other product areas.

**Also known as:** boutique bank, elite boutique, independent advisory

**Related terms:** [Investment Bank](https://finicade.com/glossary/investment-bank), [Mergers and Acquisitions (M&A)](https://finicade.com/glossary/mergers-and-acquisitions), [Conflict of Interest](https://finicade.com/glossary/conflict-of-interest), [Investment Banking Analyst](https://finicade.com/glossary/investment-banking-analyst), [Independence](https://finicade.com/glossary/independence)

Source: https://finicade.com/glossary/boutique-investment-bank