Oppenheimer And Co

I was told that they pay out 6% on their fund, so I gave them $10,000.00 to start with. Two years later they had lost about $1,500.00.

Then I get my phone call to transfer to another fund. Are you serious. How can I trust you after you told me you pay 6%, but instead you lose 7.5%. Then you have the nerve to tell me that you charge over $50.00 to write the check to me.

You aren't happy enough to cost me over $2,500.00 in just two years. The promise to me was about a 35% swing in the wrong direction. To be honest, I am not sure if they lost the money or just stole it. No way that I will ever trust them after they flat out lied to me.

Stay away from these liars. They obviously are not very good at what they do and have no problem lying to get your money.

I closed my account with oppenheimer & co in 2022. I started receiving account statements again in 2023 as there were residual payments that were deposited after the beginning of the year.

I called them today to complete the closure of my account & was told that there was a balance of $0.03 as they just cleared the account for administrative fees. This is indicative of corporate theft & I would not recommend doing business with this company to anybody.

Dear All,

Please I want to inform you that you took money from me even I didn't book and this is the second time .

Please this is not nice and you will lose the clients.

Please can you refund my money .

Before i take action.

Said

Trying for a long time to locate my small Ira account. My name is Alvin W.

Hennigan. No satisfaction so far.

Email address is. Esshenni@***.com

I had a roll over from a previous employer that I had set up online access. The $12k sat in the account for about a year and I decided I would like to be able to trade this $. Having account with Morgan Stanley and Vanguard I didn’t think it would be all that difficult.

I called Oppenheimer I was told I had to fill out a form and mail it to them. On the form was an area for asset allocation and of course disclaimers all over the place. On the form I decided to split the $12k and buy two funds. I expected there would be some commission but since I wasn’t engaging with a person it would be minimum. Before receiving the purchase confirmation I checked the on line account to see there was only $11,300 in the account and a loss for the year was over 5%. I thought how can that be????

I had not YET received a confirmation for anything so I immediately called them and 5 clicks in on their purchase form there is a 5.75% commission to purchase these two funds. Yup, filled out a form and cost myself over $700 and 5% of my portfolio all in the course of a day.

On the phone I asked to this fee to be credited and I would leave the $ with them. I explained no one would knowingly have 5% of their account taken. I asked them to go to their supervisor and asked them if they would give me knowingly give me $12k today for $11,300 tomorrow. I got a bunch of back and forth and in the end they said tough we are keeping your $700.

My goal now is to write to anyone and everyone to tell them NOT to do business with Oppenheimer. They could have done the right thing, they just chose not to. Awful company practice. No wonder they have been fined $20,000,000 in January 2015. I suppose stealing 5% of everyone portfolio should enable them to cover this is a day or two. Poor practice and shameful business practices.