Oppenheimer Holdings Inc.
oppenheimer.comWhat Do They Do?
Provides brokerage and investment-management services to individuals and institutions, and advises companies and public borrowers on mergers and capital raising.
10-K for FY2025, filed Feb 26, 2026Through its Wealth Management business, Oppenheimer provides a comprehensive array of financial services through a network of 924 financial…View ↗
OAM offers tailored investment management solutions and services to high-net-worth private clients, institutions and corporations and/or…View ↗
Oppenheimer employs over 200 investment banking professionals in the United States, the United Kingdom and Israel. Oppenheimer's investment…View ↗
Public Finance - Oppenheimer's public finance group raises capital for state and local governments, public agencies, private developers…View ↗
How Do They Make Money?
Asset-management clients pay fees over the service period, with performance-based fees after the measurement period; deal-advisory fees generally come at completion or a milestone. Trading commissions arrive after settlement, underwriting fees after completed offerings, and deposit-sweep fees accrue over time.
10-K for FY2025, filed Feb 26, 2026The Company earns management and performance (or incentive) fees in connection with the advisory and asset management services it provides…View ↗
Revenue from financial advisory services includes fees generated in connection with mergers, acquisitions and restructuring transactions.…View ↗
Commission revenue is generally paid on settlement date, which is generally one business day after trade date. The Company records a…View ↗
The Company earns underwriting revenues by providing capital raising solutions for corporate clients through initial public offerings…View ↗
Bank deposit sweep income consists of revenue earned from the FDIC-insured bank deposit program. Under this program, client funds are swept…View ↗
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10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by product or service (Total revenue from contracts with customers) ↗
$1.6B
-
10-K for FY2025, filed Feb 26, 2026
$1.6B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Commissions from sales and trading
Usage-based
10-K for FY2025, filed Feb 26, 2026 |
30%
FY2022: 32%
|
Commissions from sales and trading, FY2025
$431.4M Sources
|
Usage-based |
|
Mutual fund and insurance income
Mix
|
2.3%
FY2022: 3.0%
|
Mutual fund and insurance income, FY2025
$33M Sources
|
Mix |
|
Advisory fees
|
39%
FY2022: 41%
|
Advisory fees, FY2025
$555.4M Sources
|
|
|
Investment banking - capital markets
Sold outright
10-K for FY2025, filed Feb 26, 2026 |
11%
FY2022: 4.1%
|
Investment banking - capital markets, FY2025
$152.9M Sources
|
Sold outright |
|
Investment banking - advisory
Mix
|
8.0%
FY2022: 8.1%
|
Investment banking - advisory, FY2025
$113.5M Sources
|
Mix |
|
Bank Deposit Sweep Income
Recurring
|
8.1%
FY2022: 10.0%
|
Bank Deposit Sweep Income, FY2025
$114.8M Sources
|
Recurring |
|
Other
|
1.6%
FY2022: 1.8%
|
Other, FY2025
$23M Sources
|
Who Are Their Customers?
Individuals and families, executives, and businesses use its financial-advisor network for brokerage and investment advice; institutions and companies hire it for investment management, trading, and capital-raising services.
10-K for FY2025, filed Feb 26, 2026Through its Wealth Management business, Oppenheimer provides a comprehensive array of financial services through a network of 924 financial…View ↗
OAM offers tailored investment management solutions and services to high-net-worth private clients, institutions and corporations and/or…View ↗
Oppenheimer employs over 200 investment banking professionals in the United States, the United Kingdom and Israel. Oppenheimer's investment…View ↗
Oppenheimer employs 36 senior research analysts covering approximately 675 equity securities, primarily listed in the U.S. and over 75…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2025 and turned 11 cents into free cash flow.
10-K for FY2025, filed Feb 26, 2026
$211.2MView ↗
10-K for FY2025, filed Feb 26, 2026
$148.4MView ↗
10-K for FY2025, filed Feb 26, 2026
$183.6MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 31, 2026
$27.4MView ↗
- ▲ +26%
- vs $21.7M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 31, 2026
Open tableView ↗
Growing. Revenue grew 18% in 4 years, from $1.4B in FY2021 to $1.6B in FY2025, about 4% a year.
Exit from discount brokerage
The earlier report lists Freedom as a discount broker-dealer; the latest says it ceased broker-dealer activities and closed or transferred its remaining customer accounts.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 26, 2026Oppenheimer Holdings Inc. ("OPY" or the "Parent"), through its Operating Subsidiaries (together, the "Company", "we", "our" or "us"), is a…View ↗
The Company previously operated Freedom Investments, Inc. ("Freedom") as a discount securities broker-dealer based in New Jersey. In…View ↗
An added mutual-fund account option
The latest report adds PAS Research, where OAM’s Consulting Group selects mutual funds for strategic allocations; the earlier report describes PAS and PAS Directed.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 26, 2026Mutual Fund Managed Accounts - The Company offers two fee-based mutual fund managed account programs through Portfolio Advisory Services…View ↗
Mutual Fund Managed Accounts - The Company offers three fee-based mutual fund managed account programs through Portfolio Advisory Services…View ↗
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