Within the US-listed independent advisor space, where a heavy focus on M&A is the norm, Houlihan Lokey’s (NYSE: HLI ) business model stands out. HLI is split across three segments - corporate finance (M&A advisory, capital markets, etc.), financial restructuring (bankruptcy filings, liability management, etc.), as well as financial & valuationAnalyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within th ...