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Stable, Reliable, and ConsistentOur Compensation Model

How often does your compensation plan change?

Many advisors don’t realize how often firms change their compensation plans and that is important to understand prior to making a move. Changes to compensation – including grid, deferred compensation and T&E – are oftentimes geared toward firm profitability at the expense of its advisors. In other cases it is about encouraging certain behavior that does little to support the client-advisor relationship. Whatever the reason, a lot of these changes show up in the fine print.

At Oppenheimer, we go to great lengths to deliver a stable, rewarding compensation plan that not only treats you fairly; it recognizes that you – a client’s trusted advisor – don’t need to be told how to run your business or service your clients. Our compensation plan is built on the insistence of transparency and includes one of the highest cash grids on the street, plus deferred compensation, with the ability to participate in the upside of the company’s success, and a T&E allowance to support your continued growth.

What can I expect during my transition?

Transition assistance can vary from firm to firm, so it is important to get a clear and detailed list when you are talking about a transition. Transition assistance can be anything from repapering to paying for the termination fees on brokerage accounts. Some firms will not provide any assistance outside of the upfront recruiting bonus and as such, much of the time and expense of the transition falls squarely on the advisor. In addition, many firms will expect an advisor to offer all the services of their new firm without the understanding of the individual needs of the client. At Oppenheimer, we believe that the relationship exists between you and your client and it’s our job to support that relationship. Many other firms believe that the relationship exists between the firm and the client, often resulting in the firm deciding what’s best for your client.

At Oppenheimer, our full service transition team executes on the smallest of details, so you can focus on the most important thing: serving your clients. Our dedicated transition team takes care of all of your repapering, training and technology needs, as well as the logistics for your new office. Most importantly, we don’t "nickel-and-dime" your clients with fees to transfer their assets.

Does Oppenheimer allow me to service any households, regardless of size?

Many firms have stopped paying advisors on households under a certain asset threshold or worse yet, require such households to be outsourced to a call center or ‘self-directed’ service model. This was done by some firms as an attempt to capture assets into firm-driven model portfolios and ‘institutionalize’ client relationships with product cross-selling being the primary measure of success.

At Oppenheimer, all of your accounts and relationships are valued. We realize that the size of the account is not the only measure of value. We allow you to manage your book of business and make your own decisions on profitability and service models. We believe that clients are more than numbers and your ability to service ALL of your clients should be a major consideration in executing your relationship strategy.

How does Oppenheimer help advisors grow their practice?

In addition to servicing your existing clients, Oppenheimer believes that the ability to grow your practice should be at the cornerstone of your decision to consider joining us.

It is important to look beyond the grid when considering a transition. When looking to make a change, it is important to understand what additional benefits come with your compensation package. For example at Oppenheimer we provide:

  • An award winning research team that is approachable and available
  • Investment opportunities that go beyond the usual one size fits all approach
  • Access to department heads and senior management without the usual red tape
  • Robust T&E program to help fund client acquisition and retention cost
  • Opportunities to attend business growth programs
  • Marketing programs and support
  • Practice management coaching

At Oppenheimer, we believe in a providing a comprehensive package for advisors and that goes way beyond the numbers on a grid. It includes the support and service of ~1900 home office employees worldwide whose key focus is wealth management and our advisors success.

Does your firm discount your compensation on annuities, insurance or other specialized business areas?

When looking at compensation packages, it is important to understand how each firm views certain products. As it pertains to insurance, many firms withhold a percentage of compensation on both life and annuity sales before it goes to grid.

At Oppenheimer, annuities and life insurance product revenues are credited 100% directly to you. We understand that insurance is not a transactional sale; rather it is ordinarily part of a comprehensive financial or estate plan which is why we credit the full compensation to the advisor at a 50% payout, not at their grid. On variable annuity products, we not only credit 100% of the compensation to the FA but we also offer 3 commission options for an Advisor to choose from on a variable annuity sale. This flexibility allows you to craft solutions for your clients as you see fit.

Let's Talk Your Future

Your drive to succeed, eagerness to take on challenges, and openness to collaborating with our diverse colleagues in the pursuit of excellence can make Oppenheimer the right place for you.

Oppenheimer is more than just another wealth management firm. The professionals who join us are a part of a distinct culture that helps them, and their clients succeed.

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We believe that you will discover something special about Oppenheimer. Read what the Chairman and Head of Private Client Division have to say to our recruits.

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We believe that you will discover something special about Oppenheimer, and find it is a unique platform to serve clients and grow your business.

Discover The Oppenheimer Difference

Advisory, transactional, or a combination of both: your business model is supported at Oppenheimer.

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We provide the support, guidance, and service you need at every stage of the transition process.

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Oppenheimer financial professionals are recognized with several awards and programs each year for their experience, outstanding service to clients, and for being the best in the industry.

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With expertise spanning many disciplines – from hedge funds to mutual funds, from domestic investments to offshore opportunities – we have the experience and training to address complex investment strategies and help move your clients closer to their financial goals.

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As we look ahead, we are hopeful that you continue to consider moving your business to Oppenheimer, and we believe you will discover exciting opportunities here.

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