Reputation of Oppenheimer & Co. Inc

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Sep 8, 2005 1:11 pm

Anyone know anything about this firm? They are offering sponsorship for series 7/63 for trainees, and i wanna know if this is gonna be a boiler room or not.

Sep 8, 2005 2:11 pm

Pretty solid firm, strong name.  They had some issues, I heard, a few years ago when they went through a change in ownership, but from what I have seen, the ship has righted itself.

Sep 8, 2005 2:15 pm

I think OPY's cleaned itself up pretty well. They had mutual fund market timing messes as did others (PRU, MER, MWD et al). I have a friend who's been there for 2 years and is producing over $1.5M. He's ex Bear Stearns---left Bear for personal reasons (didn't get along with his branch mgr and wanted to move down to Miami from NYC). This is a clean broker with 20 years plus in the biz and with an Ivy League MBA.

Sep 8, 2005 11:08 pm

I have no gripes with Oppenheimer, I use some of their funds in our Wrap Program.

Sep 8, 2005 11:17 pm

I know some who work there now and have worked there in the past, I have heard good things, go learn how to sell and get your licenses and then transfer to a wirehouse.

Sep 9, 2005 8:57 am

Oppenheimer sucks. The old Oppy was cool, but it has gone downhill since Fahnestock took it over.

Sep 9, 2005 10:44 pm

There is no real Oppenheimer & Co. anymore. Just the bucket-shop Fahneschlock that bought the name to disguise themselves.

When CIBC bought OPY in 1998, that was the final straw.

BTW - they have nothing to do with Oppenheimer funds, except an ancient shared heritage from thirty years ago.

Sep 14, 2005 1:33 pm

Their reputation is a good as Gruntal and Ryan Beck.  Plus they have the distinction of having the most outspoken bear on Wall Street, Mike Metz.

Wait...stop the presses...I heard Metz just turned bullish.  I hope its not a bad omen?