Money Management Executive

Oppenheimer Sweetens the Deal

Published January 11, 2002, 1:00 a.m. EST

1 Min Read

OppenheimerFunds has increased the IRA sales commission it hands out to A.G. Edwards, according to a statement filed yesterday with the SEC.

Processing Content

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.

For reprint and licensing requests for this article, click here.

Money Management Executive

MORE FROM FINANCIAL PLANNING

Industry News

RIA deal momentum slows, threatening record-breaking run

Valuation expert David DeVoe says he thinks the falling deal numbers are less of a reflection of waning demand and more of general economic concerns.

By Dan Shaw
Reporter

8h ago
Tax

Why advisors are rethinking entity structures for clients — and maybe themselves

Recent tax law changes are prompting businesses to rethink entity structures. Here's what financial advisors need to know when guiding clients or making decisions about their own RIAs.

By Zoe Sagalow
Reporter

10h ago
Professional development

Building RIA internship programs that become top talent pipelines

The days of a few firms hiring a summer intern with vague plans for them to perform menial tasks around the office may be finally coming to an end. Here's how experts say RIAs can create successful internship programs.

By Tobias Salinger
Chief Correspondent

10h ago
Professional development

Why potential RIA successors walk away — and how to keep them

Succession planning experts say that the possible next generation of RIA owners need clear communication, tangible career paths and thoughtful compensation plans. But that is often easier said than done.

By Tobias Salinger
Chief Correspondent

September 23
Practice and client management

How advisors can spot and navigate cognitive decline with aging clients

Cognitive decline is a difficult topic to raise, but advisors who plan ahead can protect clients' finances and autonomy before a crisis hits.

By Grace L. Williams
Reporter

September 23
Industry News

Fighting advisor exits, UBS holds steady on 2027 pay

UBS wants to keep its advisors happy and in their seats. As a result, its 2027 compensation policies avoid the usual grid-update mixture of "good news, bad news."

By Dan Shaw
Reporter

September 23

Load More