Oppenheimer Review

Company Overview

Oppenheimer is an investment bank and firm that offers capital market services, asset management, financial advisory services, investment banking and other similar products. This investment firm was founded in 1881 and has a subsidiary that specializes in retail brokerage services including retirement accounts and IRAs. Oppenheimer has employed several well-known equity research analysts including Carter Braxton Worth, Meredith Whitney, Henry Blodget and Steve Eisman.

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Account Options

 Minimum ContributionMaximum Contribution

Roth IRA

No Minimum

$5,500/year

Traditional IRA

No Minimum

$5,500/year

SEP IRA

No Minimum

25% of compensation
(up to $52,000)

SIMPLE IRA

No Minimum

$12,000 (if under age of 50) or
$14,500 (if older than 50)

Self-Directed IRA

-

-

Rollover IRA

No Minimum

No Limit

Inherited IRA

-

-

 

Oppenheimer has a standard selection of IRA account options including traditional, Roth, SIMPLE, SEP and rollover IRAs. The ‘catch-up’ contribution limit is $1,000 per year.

Investment Options

  • Stocks
  • Options
  • Mutual Funds
  • ETFs

While other investment opportunities are available at various subsidiaries, Oppenheimer specializes in mutual funds. Prices of various investments are not available to individual investors and can only be accessed by a financial advisor.

Fees and Commissions

The fees and minimum account balance information is not available – that information is given to the financial advisor of the individual investor. Oppenheimer caters to highly experienced investors and only provides pricing information via advisors.

Retirement Planning

Oppenheimer does provide extensive retirement planning services to investors. The retirement resources are divided into four categories – Getting Started, Already Investing, Nearing Retirement and Living in Retirement. These categories offer specific plans, tips and advice to investors at all stages of their life whether they are just beginning to plan for retirement or they are already retired. There are also several tools and calculators that are designed to help investors create a retirement plan, select an IRA and plan their contributions to their retirement funds based on their paycheck.

Account Features

There are filing and other requirements set by the IRS that must be met to open an IRA account. In addition, investors need to have generated taxable income in the past year to open a Roth IRA. There is no age limit set for opening a Roth IRA and investors simply need to provide SSN and other financial details.

Accessibility

Multi-Device Functionality

Mobile Site

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iOS Accessible

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Android Accessible

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The Oppenheimer mobile app for iPad and Android devices does not allow investors to manage their accounts or open positions but there are plans to add these functions to the mobile app. Investors can research a variety of different funds, companies and markets.

Safety and Security

Oppenheimer works hard to protect the sensitive information of their clients. This investment firm uses state of the art encryption and security technology to ensure the security of their clients’ accounts and investments. There are a number of security and safety features that are used to enhance the site’s security and all transactions are encrypted.

Customer Support

Oppenheimer has an excellent customer support team in place to satisfy the many serious investors that rely on this firm for their investment services. Investors can contact customer support 24 hours a day, 7 days a week via telephone or email. Customer support is highly responsive but it may take 24 hours for representatives to respond to emails. The customer support representatives have a great deal of knowledge of investment products and are happy to provide top-notch service.

Bottom Line

The website does not provide many details about investment options at Oppenheimer but it is clear that this investment company caters to the most experienced investors. This means that the tools, customer service and investment choices will reflect the needs and wants of savvy investors.

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