Oppenheimer & Co. Inc. is a large advisory firm based in New York. It manages $10.61 billion of regulatory assets for 23,088 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.
Oppenheimer & provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for approximately 2,500 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Oppenheimer & Co. Inc. is $10.61 billion. The firm's AUM has grown by 665% since the beginning of its operation, and $219.12 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Oppenheimer & Co. Inc. for their services and products based on a percentage of assets under management, fixed fees, commissions, and performance-based fees. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Elaine Kells Roberts is individuals with 21,947 clients and $7.46 billion of assets under management. Among the 12 most similar advisory firms, Oppenheimer & has the 2nd highest percentage of individuals out of all clients.
The amount of regulatory assets under management is $10.39 billion for 22,968 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.
Oppenheimer & also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $100,000 for each fund.
The company employs 2,868 people that are either part- or full-time employees. 28 percent of the employees work as investment advisers or researchers. 1,179 employees are registered as investment adviser representatives with the state securities authorities.
There are 167 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.
Elaine Kells Roberts has been acting as President since 1 Oct 1983. Edward Patrick Harrington joined the executive team most recently as the Executive Vice President National Sales.
The principal office where Oppenheimer & Co. Inc. performs its advisory services is located at 85 Broad Street, New York, NY 10004, which is also the mailing address of the firm. An additional office of the firm is in Chicago, IL. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 212-668-8000. The normal business hours are 9:00a.m. to 5:00p.m. on Monday - Friday. You can find more information about the New York firm at opco.com.