Definition of Boutique:
A boutique is a small financial firm that provides specialized services for a particular segment of the market. Boutique firms are most common in the investment management or investment banking industries. These boutique firms may specialize by industry, client asset size, banking transaction type, or other factors to address a market not well addressed by larger firms.
Characteristics of a Boutique Firm:
Industry analysts define boutique consultancy firms as those companies which have no more than 250 billable consultants on board. In many cases, this means defining change that alters not just client firms but also the industries that they operate in.
Advantages of Boutique Firms:
The Benefits of Choosing a Boutique Firm for Your Consulting Needs. Unlike larger consulting companies, boutique firms are smaller, specialized firms that focus on specific industries or areas of expertise. This allows them to provide personalized attention and tailored solutions to their clients.