Oppenheimer & Co. Inc.: what do you need to know?
Learn why Oppenheimer & Co. Inc. is a widely renowned leader in the financial advisory industry and the pros and cons of utilizing its services.
Summary
Oppenheimer & Co. Inc. has been around for more than 140 years.
The financial services firm provides financial advisory services for over 34,000 clients, making it one of the largest financial firms in the world.
Oppenheimer & Co. Inc. offers a wide variety of investment services and products for individuals and entities.
For reliable investment advice, seek financial advice from a trusted advisor.
Introduction to Oppenheimer & Co.
Oppenheimer & Co. traces its history back to 1881, when its original predecessor company, Fahnestock & Co. Inc., was founded by Harris C. Fahnestock. Fahnestock was Abraham Lincoln's financial advisor and a highly successful investment banker.
The company stood firm and even flourished during the Great Depression, continued to expand into Europe after World War II, and survived the harsh bear market of the '70s.
In the 1990s, mergers occurred with the Canadian Imperial of Commerce, Wood Gundy, CIBC World Markets Corp., and Oppenheimer & Co. Inc.
The company began using its current name in the 2000s.
What services does Oppenheimer & Co. offer?
Oppenheimer & Co. is a giant in the investment banking industry, with its headquarters in New York City, New York.
It provides a wide range of financial services to private individuals and families, corporations and institutions. It offers wealth management services, various investment products and services, asset management, and capital market services.
The firm's wealth management services include:
Retirement services
Estate and Succession strategies
Trust services
Planning services
Consulting services for individual and institutional investments
Oppenheimer & Co. also provides a wide variety of investment products and services, ranging from traditional investments to solutions tailored to each client's specific financial objectives.
Equity and fixed-income securities
Equity research
Mutual funds
Hedge funds
Exchange-traded funds
Portfolio management
Separate account management
Insurance and annuities
Rule 10b5-1 trading plans
Buybacks
Deferred compensation plans
Hedging and monetization strategies
Employee stock option plans
Employee stock purchase plans
Cash management
In addition, Oppenheimer also offers acquisition financing, asset-based loans, mergers and acquisitions, fairness opinions, restructuring, divestitures, distressed sales, and takeover defenses, to name a few.
What is Oppenheimer Asset Management's investment philosophy?
Oppenheimer Asset Management understands that each client's financial requirements are unique. Financial advisors assess a client's risk tolerance, financial objectives, time frames, and income requirements to form a clear picture of their financial needs before recommending solutions.
The firm understands that it is always advisable to seek investment advice from advisors who can tailor-make investment packages to clients' unique objectives.
Oppenheimer & Co. thoroughly researches solutions for their clients through industry analysis and various third-party data sources to tailor unique plans to meet clients' needs.
What is Oppenheimer Asset Management's pricing and fee structure?
Oppenheimer Asset Management charges a regular fee, billed monthly in advance, as a percentage of the cash and investment value in the client's account.
The following table gives an overview of Oppenheimer Asset Manager’s fee structure:
| OIA Wrap fee | 0.80% |
| Tax Exempt Bond Laddered Portfolio | 0.50% |
| Tax Exempt Short Duration Cash | 0.50% |
| High Yield | 1.00% |
| High Yield Tax Exempt | 1.25% |
| OIA Retirement | 0.80% |
| STAR | Equity/Balanced Managers 2.25% |
| Fixed Income Managers 0.5% | |
| STAR Retirement | 2.25% |
| UMA | Equity/Balanced Managers 2.25% |
| Fixed Income Managers 0.8% | |
| Mutual Funds 1.75% | |
| CEFs, ETFs, and ETF Managers 1.5% | |
| UMA Retirement | 2.70% |
| PAS Flex | 1.50% |
| PAS Flex Retirement | 1.50% |
| PAS Research | 1.75% |
| PAS Research Retirement | 1.75% |
| Offshore PAS | 2.00% |
| Portfolio Enhancement Program (PEP) | $12,000 - $74,400 per annum |
Is Oppenheimer & Co. trustworthy?
Oppenheimer & Co.'s reputation is good as it is one of the largest investment companies worldwide and has received some prestigious awards and recognitions, including:
OIM bond managers ranked in Informa’s Top 10 fixed-income performers list – Top Gun of the Decade 2022.
Forbes Shook Research’s Best-In-State Wealth Advisors 2021 – 2023.
According to the SEC IAPD database, the company has twelve disciplinary alerts and six conflict alerts. Some relate to the company itself, while others are linked to individual advisors or affiliates. While this does not necessarily translate into a non-trustworthy reputation, prospective clients should ask questions about these alerts to see if they will affect their specific business with the firm.
What are the pros and cons of Oppenheimer Asset Management?
There are both pros and cons to investing with Oppenheimer.
Pros
Oppenheimer Asset Management has a long-standing reputation in the financial industry, providing reassurance to investors seeking stability and reliability.
It offers a vast spectrum of investment options.
It provides in-depth research and analysis to support its investment strategies.
The firm provides a personalized approach to investments.
It offers access to global markets and investment opportunities.
Cons
Oppenheimer Asset Management charges fees for its services, which can erode investment returns over time.
There may be inherent conflicts of interest when advisors receive compensation for recommending certain products or strategies.
There may be minimum investment requirements for some strategies or products, which could limit access for smaller investors.
How do you open an account with Oppenheimer & Co?
If you want to open an account with Oppenheimer & Co., you should head to the website to find an advisor or OAM branch in your area. You can then email or call them directly. Alternatively, set up an appointment via their online form.
When opening an account, the client should consider the following factors:
Does it align with my investment objectives and risk tolerance?
The fee structure: is it affordable?
Minimum investment requirements
Regulatory compliance and security
Reputation and track record
Get expert financial advice
It’s easy to see why Oppenheimer & Co. is a trusted firm. It has more than a century of experience in the financial advisory industry, offers a wide range of investment services, and tailors every package according to its client's requirements.
To maximize your wealth, you should always seek expert financial advice. Unbiased can match you with a financial advisor who can offer expert guidance tailored to your specific needs and situation.
Writers
Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.