A.G. Edwards will receive a "special concession" on sales from Feb. 1, 2002, to April 15, 2002, the last day of tax season, according to the filing. During that period, the firms advisers will get the full sales commission on sales of class A shares, and Oppenheimer will add .5% to B-share sales and .25% to C-share sales.
"Its common to pay out an extra commission during, IRA season," said Greg Stitt, a spokesman for Oppenheimer. "I know Franklin [Templeton] is also doing it. Its something weve done in the past."
The additional commission applies to five of Oppenheimers funds sold through IRAs: the Quest Value Fund, Quest Cap Value Fund, Quest Opportunity Value Fund, Small Cap Value Fund and Quest Balanced Value Fund.