What is a key feature of an investment bank's advisory services?

A key feature of an investment bank's advisory services is offering strategic advice for corporate mergers. Investment banks play a crucial role in facilitating mergers and acquisitions (M&A) by providing expertise on valuation, negotiation strategies, and the overall structuring of deals. They help clients identify potential acquisition targets or merger partners, conduct due diligence, and navigate the complexities of the transaction process. This advisory role is critical as it involves not just financial analysis but also an understanding of market conditions, regulatory implications, and the strategic fit of the entities involved.

The other options do not align with the primary advisory focus of investment banks. Providing loans to small businesses typically falls under commercial banking rather than investment banking advisory services. Underwriting initial public offerings, while a significant function of investment banks, is more about capital markets and financing rather than pure advisory services. Managing individual retirement accounts is primarily a function related to wealth management and financial planning, which again does not pertain to the advisory services offered by investment banks regarding corporate transactions.