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Academics and practitioners around the world are daily involved in the discussion of the role of financial advisors. There is puzzling evidence regarding the role of top tier advisors in the capture of abnormal returns in domestic US acquisitions. Our work is an important step forward in solving the puzzle. We find evidence that (1) hiring a top tier investment bank is relevant on public cross border transactions (2) and that the tier of the advisor has little relevance when the acquirer is an experienced investor. This is a strong indication that top tier advisors do matter when their advice is most needed.