Ever heard of JMP Group? It's another securities boutique that aims to go public. It was founded in 1999 by former executives from Montgomery Securities. Remember that somewhat tainted firm? JMP operates with two core activities, investment banking and asset management. Most of the boutiques that have fared well either had big brands to begin with (Lazard or KBW) or had big-name Wall Street stars as executives (Thomas Weisel and Evercore). So it may be hard to generate a lot of enthusiasm among institutions. Of course, the fundamentals do matter, and a good story will always work. But remember that not all boutique offerings have hit home runs in the IPO aftermarket, and recall that Ryan Beck, a unit of BankAtlantic, canceled its IPO all together.

For more:
- here's an article from TheStreet.com