Consulting Consulting
Consulting Finance General
Login Sign up for free Sign up for free
Consulting Finance General
Community
Meeting Board
Consulting Q&A
Interview Partner
Premium Membership
Coaching
Coaches
Coaching Packages
Consulting Q&A
Resources
Case Interview Basics
Case Library
AI Casebot
Tests & Guides
Mental Math Tool
Stress Questions
Drills
Video Tutorials
Brainteaser
Career
Employers
Career Events
Consulting Jobs
Consulting Blog
Sign up for free
Login
Community
Meeting Board
Consulting Q&A
Interview Partner
Premium Membership
Coaching
Coaches
Coaching Packages
Consulting Q&A
Resources
Case Interview Basics
Case Library
AI Casebot
Tests & Guides
Mental Math Tool
Stress Questions
Drills
Video Tutorials
Brainteaser
Career
Employers
Career Events
Consulting Jobs
Consulting Blog
Schedule mock interviews on the Meeting Board, join the latest community discussions in our Consulting Q&A and find like-minded Interview Partners to connect and practice with!
Meeting Board
Consulting Q&A
Interview Partner
Premium Membership
Back to overview
Anonymous A
on Jul 13, 2018
Global
I want to receive updates regarding this question via email.

What's the difference between strategy consulting and financial advisory consulting?

3
6.5k
30
Write an answer
Be the first to answer!
Nobody has responded to this question yet.
Top answer
Deleted
on Jul 14, 2018

Dear [],

Really, the differences are just what's said on the tin.

Strategy consulting is strategy consulting. It's a functional practice (in aggregate, the single largest functional practice area across MBB) that intersects all the major industries. Strategy consulting tends to focus on core questions of strategy that interest top management. Problem-solving in this profession is driven by an expectation to provide value-added solutions.

Financial Advisory Consulting is a cross-function, professional services suite aimed at improving the financial health and operations of corporations. I say cross-functional because the services could be ones of Strategy, but they could also be of People Organisation, IT Systems, Operations, et cetera. It is, however, industry-specific, and in this case, rather nichey within its specific industry vis-a-vis Financial Advisory Services.

In other words...

Strategy Consulting is a lot broader in industry and tends (especially at MBB) to focus on questions of paramount importance to top management. Financial Advisory Consulting on the other hand is far more limited in scope: financial advisory services firms and divisions would be their only industry concerns. And while theirs is a cross-functional expertise, the limiting scope of the single industry focus does not lend itself to the degree of variety afforded in Strategy Consulting.

5
0 comments
Vlad
Coach
on Jul 13, 2018
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School

Hi,

First of all, I guess by strategy consulting you mean the Management Consulting. In management consulting, you have both strategic and operational projects. Some companies like Accenture have dedicated strategy groups. MBB companies have generalists who execute both strategic and operational projects.

Secondly, you should differentiate between the management consulting in financial services and financial advisory consulting:

  • Management consulting in financial services is basically about helping Financial Companies (Banks, Insurance companies, etc) solve their strategic and operational issues
  • Financial advisory consulting is similar to what Investment Banks are doing - helping the companies with M&As and various financial deals.

Best!

3
Contact coach
0 comments
THEERTHA HARIHARAN
on Jul 19, 2018

Strategy consulting: Strategy consulting deals with all the activities of the firm, it includes positioning the company for better performance in all fields like finance, operation, analytics etc. Strategy consulting is for the overall developement of the firm.

Financial advisory consulting:  Financial advisory consulting is about managing the profit and loss, judging the way to make perfect investments. It focuses exclusively on the financial point of view rather than the general point of view.

0
0 comments
Similar Questions
Consulting
Does luck play a role ?
on May 29, 2025
Global
5
100+
Top answer by
Alessa
Coach
xMcKinsey & Company | xBCG | +200 individual & group coachings | feel free to schedule a 15 min intro call for free
8
5 Answers
100+ Views
+2
Consulting
What Are the Best Management Consulting Firms After MBB?
on Mar 25, 2025
Global
7
1.4k
Top answer by
Hagen
Coach
#1 recommended coach | >95% success rate | 8+ years consulting, 8+ years coaching and 7+ years interviewing experience
24
7 Answers
1.4k Views
+4
Consulting
Strategy Consulting at Accenture compared to Big4 and MBB etc
on May 26, 2025
Global
6
100+
Top answer by
Hagen
Coach
#1 recommended coach | >95% success rate | 8+ years consulting, 8+ years coaching and 7+ years interviewing experience
6
6 Answers
100+ Views
+3
Related Article
What’s the Difference Between Strategy and Management Consulting?
Learn more about the key differences between strategy consulting and management consulting.
View article
Similar Questions
Consulting
Does luck play a role ?
on May 29, 2025
8
5
100+
Consulting
What Are the Best Management Consulting Firms After MBB?
on Mar 25, 2025
24
7
1.4k
Consulting
Strategy Consulting at Accenture compared to Big4 and MBB etc
on May 26, 2025
6
6
100+
Everything for Your Career
  • Interview Coaching
  • Q&A
  • Interview Partner
  • Mental Math Tool
  • Interview Drills
  • Stress Questions
  • Blog
Everything for Your Career
  • Interview Coaching
  • Q&A
  • Interview Partner
  • Mental Math Tool
  • Interview Drills
  • Stress Questions
  • Blog
Popular in Consulting
  • Case Library
  • Meeting Board
  • Case Partner
  • Case Interview Basics
  • Case Interview
  • Consulting Q&A
Popular in Finance
  • Finance Q&A
  • Interview in Investment Banking
  • Investment Banking Salaries
Popular in Consulting
  • Case Library
  • Meeting Board
  • Case Partner
  • Case Interview Basics
  • Case Interview
  • Consulting Q&A
Popular in Finance
  • Finance Q&A
  • Interview in Investment Banking
  • Investment Banking Salaries
Consulting and Finance Employers
  • RWE Consulting
  • Whiteshield Advisory
  • All Employers »
About PrepLounge
  • For Companies
  • For Universities
  • For Coaches
  • About Us
  • Career
  • FAQ
© 2012 PrepLounge
Our servers are powered by electricity from renewable sources.
  • Cookies & Privacy
  • Terms & Conditions
  • Imprint
  • Sitemap
  • Contact
Questions or Feedback?
Select category
  • Select category
  • General Feedback
  • Case Interview Preparation
  • Coaching
  • Technical Problems
  • Other
Your name
Your email address
Cancel