Oppenheimer & Co. Inc. is a registered investment advisor and broker-dealer that has been in business since 1881. Oppenheimer offers various advisory services, including FAM, Alpha, Consulting Services, Retirement Services, Preference, and Financial Planning. Oppenheimer can manage your investments with or without your direct input. They earn fees from investments in certain mutual funds and from cash held in bank deposit programs. As a registered investment advisor, Oppenheimer is legally required to act in your best interest and disclose any potential conflicts of interest.
Fee Structure
Oppenheimer offers several investment management programs with different fee structures:
- Fahnestock Asset Management (FAM): Fees up to 2.5% of your portfolio. Commissions are also charged on certain FAM accounts.
- Alpha: Clients pay brokerage commissions and ticket/handling charges on securities transactions.
- Preference: Fees up to 2.25% of your portfolio. Additional charges may apply based on trading activity.
Minimum account sizes vary depending on the program and the types of investments included in the account. The minimum annual fee for FAM and Preference accounts is $250, but this is waived if the account is at least $50,000 or household advisory accounts are at least $250,000.