A boutique brokerage is a type of brokerage company, that acts much the same as a boutique shop, just like a fashion boutique. They often do not charge fees, instead taking a percentage of any profits generated.
Commonly, boutique brokers operate with family and friends and do not have advertising campaigns. They generally are in the investment field, but can also exist in other fields such as information technology.
Boutique brokerage can also refer to a real estate brokerage firm.
References
Boutique brokerage Wikipedia(Text) CC BY-SA