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Updated September 23, 2026. Quick answer: Oppenheimer & Co. is registered with the SEC as both a broker-dealer and an investment adviser. Per its own current fee brochure, a $500,000 account would run up to $15,000 a year (the published maximum) under its published fee schedule; the minimum to open an account is $10,000 to $100,000 for OMEGA Program (and OMEGA Retirement Program), depending on strategy. Already a client and thinking about leaving? Budget $125.00 combined transfer fee, plus $60.00 a year while an IRA stays open. Is it a fiduciary? Yes, when it is acting as your investment adviser; when the same representative acts as your broker-dealer instead, the applicable standard is best-interest, not fiduciary, and its own Form CRS states representatives can earn commissions in that capacity.
Oppenheimer & Co. at a glance
| Fact | What Oppenheimer & Co.’s own pages say |
|---|---|
| Legal entity | Oppenheimer & Co. Inc. |
| Registration | Oppenheimer & Co. Inc. is registered with the Securities and Exchange Commission (“SEC”) as both a broker-dealer and an investment adviser. |
| Fee on a $500,000 account | Up to $15,000 a year (the published maximum), per its own current brochure |
| Minimum to open an account | $10,000 to $100,000 for OMEGA Program (and OMEGA Retirement Program), depending on strategy |
| Cost to leave (exit fee) | $125.00 combined transfer fee, plus $60.00 a year while an IRA stays open |
What Oppenheimer & Co.’s own fee schedule charges
“The maximum fee and minimum account size for each program are set forth in the table below. The minimum annual fee for an account in any program is $250. The minimum fee will not apply if the account is at least $50,000.00 or advisory accounts in a client’s household are at least $250,000. … Oppenheimer & Co. Inc. Advisory Program Minimum Account Size and Maximum Fees: OMEGA … OMEGA Equity/Balanced: 3.00%, OMEGA Fixed Income: 1.25%, OMEGA MF/ETF: 1.75%.”
OMEGA is Oppenheimer’s sponsored discretionary wrap-fee program (the first and only program in the Appendix 1 brochure that Oppenheimer itself sponsors and manages, as opposed to Alpha/FAM/Preference/PAS/UMA Directed which are Financial-Advisor- or third-party-directed at different, generally lower ceilings from 1.00%-3.00%). Its Equity/Balanced ceiling of 3.00% is used as the representative maximum: dollar_at = balance x 0.03. The disclosed $250 annual minimum fee does not bind at any of the four balances because it is waived once the account (or household) is at least $50,000/$250,000, which all four balances meet or exceed.
| Account balance | Annual fee |
|---|---|
| $250,000 | $7,500 |
| $500,000 | $15,000 |
| $1,000,000 | $30,000 |
| $2,000,000 | $60,000 |
See the full breakdown, including how the figure is calculated, on Oppenheimer & Co.’s own fee page.
Is Oppenheimer & Co. a fiduciary?
Oppenheimer & Co. Inc. is registered with the Securities and Exchange Commission (“SEC”) as both a broker-dealer and an investment adviser.
“When we provide you with a recommendation as your broker-dealer or act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. … When we act as your investment adviser, we are a fiduciary.”
If you open a brokerage account, you will pay a transaction based fee, generally called a commission, every time you buy or sell an investment.
Full detail, including the exact registration type and source: Oppenheimer & Co.’s fiduciary status, explained.
The minimum to open an account
“The maximum fee and minimum account size for each program are set forth in the table below. The minimum annual fee for an account in any program is $250. The minimum fee will not apply if the account is at least $50,000.00 or advisory accounts in a client’s household are at least $250,000.”
$10,000 to $100,000 for OMEGA Program (and OMEGA Retirement Program), depending on strategy. See the full minimum-investment breakdown, including what that minimum would cost per year, on Oppenheimer & Co.’s minimum investment page.
What it costs to leave
Oppenheimer prices leaving at a single combined $125 line that covers both retail brokerage accounts and IRAs alike, plus a separate $60 annual IRA custodial fee for every year the retirement account remains open.
Full mechanics, sources, and the ACATS transfer process: how to leave Oppenheimer & Co..
What we would compare it against
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- Oppenheimer & Co. Inc. Part 2A Appendix 1 of Form ADV (Wrap Fee Program Brochure) (March 19, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1021683
- Oppenheimer & Co. Inc. Customer Relationship Summary (Form CRS) (June 15, 2026): https://reports.adviserinfo.sec.gov/crs/crs_249.pdf
- SEC Investment Adviser Public Disclosure, Oppenheimer & Co. Inc. (CRD #249): https://adviserinfo.sec.gov/firm/summary/249
- Oppenheimer & Co. Inc., SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/249/PDF/249.pdf
Methodology. This page was built September 23, 2026, drawing directly on Oppenheimer & Co.’s own current fee brochure and Form CRS, both linked above, plus this site’s own already-published fiduciary, minimum-investment, and (where one exists) how-to-leave pages for the same firm, each independently sourced when it was built. Any distinction we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading Oppenheimer & Co.’s own Form ADV Part 2A and Form CRS. We have not used Oppenheimer & Co. as a client. Oppenheimer & Co. did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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