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Strategic projects vs. financial advisory

 
#1 Strategic projects vs. financial advisory
24/10/2009 07:41

Undergrad

Hello,

Can someone explain what is the difference between financial advisory (like E&Y) and strategic management consultancy projects (like MBB's?).

Examples?

I'm asking because I'm applying to a MC firm but I see them ranked among financial advisory firms (Like E&Y,Dexia, Deloitte) where other (and larger) MC firms are not listed.

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#2 RE: Strategic projects vs. financial advisory
24/10/2009 08:23

DHK to Undergrad (#1)

Financial advisory and strategic management consultancy are both very broad terms. Some financial advisory work is also strategic management consultancy, whereas other parts of the work would be better described as corporate finance or implementation. For example, advising on the use of capital and financial governance may be seen as strategic management consulting, whereas performing the calculations for a specific deal or running part of the finance function for the client would be corporate finance or implementation.

Financial advisory is separately ranked because it aligns to a specific function and client community (accountants of various hues) whose requirements can be represented by a relatively consistent set of criteria, with relatively clearly defined publications and representative bodies. In contrast, "strategic management consultancy" takes in such a wide range of clients and interests that it is not possible to rank firms meaningfully from a practitioner perspective.

I wouldn't describe it as "weird" so much as representative of the fragmented and specialised nature of professional services. The largest organisations in aggregate may have some advantages such as economies of scope or scale, but can be out-performed in specific markets by firms with deeper knowledge and experience in those markets.

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#3 RE: Strategic projects vs. financial advisory
24/10/2009 08:50

Undergrad to DHK (#2)

Thank's for the detailed answer!

So if I want to get experience in various kinds of projects should I only focus on firms like MBB or will it be the same at financial advisory firms?

I'm talking about a business analyst positions.

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