Founded in 1881 by Harris C. Fahnestock, Oppenheimer Holdings, formerly known as Oppenheimer & Co, is an American multinational investment bank and financial services company. Oppenheimer offers various services:
- Investment banking
- Financial advisory services
- Capital markets services
- Asset management
- Wealth management
- Institutional sales and trading
The company has three segments: private client, asset management, and capital markets. The private client segment includes a full-service brokerage, wealth planning, and margin lending and generates over half of the company's total revenue.
For private clients, Oppenheimer offers personalized financial and investment products based on recommendations from their financial professionals. This can be for building an investment portfolio or planning for retirement and include services for those working to transition wealth, protect their assets, and grow their wealth.
For those working to grow their wealth, Oppenheimer offers advice from their financial professionals on a range of traditional and nontraditional products and services. This includes investment solutions, institutional services, and mutual fund services.
In their portfolio of investment solutions, Oppenheimer offers traditional and alternative investments across the global financial landscape, as well as proprietary fixed income services, to help users develop their portfolio. For those interested, Oppenheimer offers mutual fund services to help users build portfolios of mutual investments and offers a vast assortment of funds. A financial professional works to help users select the mutual funds appropriate to their needs and overall asset allocation.
For corporations and institutions, Oppenheimer offers a range of advisory and capital markets services to fit corporate and institutional needs. These are offered to help organizations meet organizational goals, such as setting up employee stock option programs, protecting financial assets, and conducting a merger and acquisition deal.
Other services offered by the company include equities for corporate access, research, and sales and trading; fixed income services for debt capital markets, research, and sales and trading; investment banking, offering a global reach with industry expertise and related services for transactions; and corporate and executive services, which includes cash management services, investment solutions, and retirement products.
For asset management, Oppenheimer offers tailored investment portfolios for strategic asset allocation based on the needs and goals of the investors. This is done through an integration of traditional and non-traditional portfolios into a unified solution offered to managers, which the company believes offers a robust investment product.
The company's approach includes understanding client situations through an evaluation of their financial goals, expectations, investment history, and risk tolerance to design an investment plan. These are then reviewed regularly to ensure a client's investment objectives are being met and to make changes to the portfolio as necessary. The asset management division of Oppenheimer works with the other business units to offer private market opportunities to clients interested in raising money in the private markets and requiring liquidity and capital raising solutions prior to going public.
Oppenheimer Holdings was originally founded as Oppenheimer & Co. The name change occurred in 1950 when a partnership was developed to have the company act as a broker-dealer and manage other related financial services for large corporate clients. In 1975, operations were reorganized, and Oppenheimer & Co. formed three operational subsidiaries:
- Oppenheimer & Co. Inc. (retail brokerage)
- Oppenheimer Capital Corporation (institutional investment manager)
- Oppenheimer Management Corp. (acquired by Invesco)