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Asset Management

At a Glance

Oppenheimer Asset Management continues to be a reliable business partner to our financial advisors, offering them access, choice, insight, and education. As the investment landscape evolves through technology, modernization, and new regulations, we remain committed to helping advisors excel at delivering dependable and appropriate advice to clients. We pride ourselves on our relentless pursuit of investment opportunities and excellent client service. We believe that this approach positions advisors as trusted partners and good stewards of client capital. Our sense of exploration never wavers.

Year in Review

A market rebound can happen all at once or quietly over time. In 2019, we saw the latter. Indeed, it was a year marked by one of the most underappreciated stock market rallies in history. A mix of Federal Reserve rate cuts, strong consumer spending, and a flourishing tech sector fueled renewed investor optimism. As a result, the S&P 500 and the Nasdaq posted their best-performing years since 2013.

Still, it was not without turmoil. Geopolitical concerns such as Brexit, impeachment hearings, and trade tariffs—along with fleeting fears of a recession—tested the market’s mettle. In the end, the strength of the economy prevailed over brief bouts of volatility. Against that backdrop, Oppenheimer Asset Management delivered record financial results: assets under management grew to $32.1 billion, advisory revenue eclipsed $305 million, and total client accounts hit 70,100 across 12 advisory programs.

Quotation from Aenean Pretium

We hold an unwavering allegiance to helping our clients meet their investment goals—whether it’s acquiring or preserving wealth.

Although global risks stirred up uncertainty and made clients more risk adverse, we kept a steady hand. Throughout the year, we continued to uncover timely investment ideas and hold educational forums for financial advisors. For example, during the first quarter, we launched our inaugural Innovation Summit, where trusted business partners, industry experts, and esteemed colleagues gathered to discuss investing jointly in public and private markets and opportunity zone funds designed to take advantage of new tax laws.

Through partnerships with our global business units and our own due diligence team, we were able to raise $291 million in private assets throughout the year. Meanwhile, we added eight managers to our alternative investments platform, which now stands at an all-time high of $3.9 billion. Another notable product launch was the unveiling of our chief investment strategist’s new dividend portfolio, which includes ETFs and individual securities. Together with our other model portfolios, we now manage $789 million in proprietary model portfolios.

Throughout 2019, our traditional actively-managed strategies saw substantial growth. Our unified managed account platform grew to $8.1 billion, increasing more than 22.6 percent. Additionally, we added three separate account managers to our Focus List. Our Focus List assets, which is highly selective and tracked over a number of years, is now totaled in excess of $7.9 billion.

Areas of Focus

As one of the nation’s premier boutique investment managers, we offer a robust lineup of global investment strategies across a broad range of asset classes. Our equity, fixed income, and alternative investments—including private equity and hedge funds—are available through a number of different programs and products.

With an emphasis on the advisor’s access, choice, insight and education, we provide comprehensive and objective investment advice to help clients tackle today’s known challenges and prepare for tomorrow’s unforeseen risks. We hold an unwavering allegiance to helping our clients meet their investment goals—whether it’s acquiring or preserving wealth. We are deeply committed to steering them toward a secure financial future.

Together, our broadly diversified platform and high level of client service allow us to stay closely connected with our network of financial advisors. Each day, we strive to equip and empower them with the right information so they can help their clients achieve better outcomes and grow their advisory practices, while utilizing our investment platform. Whenever possible, we will leverage technology to build tools to improve the advisor experience and create operational efficiencies.

areas of focus
areas of focus

With investments, we rely on a diversified, open-architecture platform with strong research and due diligence guardrails. Giving advisors the flexibility to choose the appropriate program and investments that best suit their clients is ingrained in our philosophy. We will continue to provide them with the tools and support needed to be successful, particularly as the industry faces challenging new regulatory requirements and shifts more toward a fee-based advisory model.

Looking Forward

In 2020, our steadfast commitment to innovation will continue. Tapping into new technology to make conducting business easier for financial advisors and expanding the depth and breadth of the product lineup are among our top priorities. We will look to broaden the scope of digital tools as a way to enhance the advisor and client experience. Expanding the Discovered Managers platform to broaden choice and increase diversification will continue to be a focus.

In addition, training and education for advisors will remain at the forefront as we launch new tools, hold in-depth investment forums, and create timely marketing materials to bolster their knowledge base. In terms of staffing, recruiting top talent to help drive scale and profitability is another crucial endeavor for 2020.

Further, with new regulatory requirements afoot, we will be preparing advisors to adapt to a new environment of financial advice. We pledge to stretch limits and reach new heights through creativity and collaboration as we continue to enrich the client experience and position our advisors for success.

Notable Highlights
  • Raised $240 million for a new public/private fund in 2020—our largest capital raise ever.
  • Raised $666 million for Discovered Managers platform to bring AUM to $3.43 billion.
  • The Market Strategy Portfolio eclipsed $338 million in assets under management.
  • Launched John Stoltzfus’ Market Strategy Dividend and Income Opportunity portfolio.
  • Added an opportunity zone fund to the alternative investments platform in response to the Tax Cuts and Jobs Act of 2017, which created a new real estate program designed to revitalize low-income neighborhoods.
  • Three managing directors were nominated for Women of Wall Street awards.
  • Corporate Core Plus strategy named to PSN Top Gun list. In the first quarter, OIM Corporate Core Plus was ranked No. 9 out of 145 products across 105 firms for its one-year performance.

$305
Million
Fee-Based Revenue*

*Includes $264.8 million which is reported in the Private Client Division

$32.1
Billion
Assets Under Management

$291
Million
Raised for Early Stage
Private Companies