Oppenheimer Announces 'Power at the Desktop' Vision for New Unified Advisory Platform

Wakefield, MA – January 13, 2016 – Oppenheimer Asset Management Inc. (OAM) has announced to the financial advisors of its affiliate, Oppenheimer & Co. Inc. (Oppenheimer), the introduction of its new unified advisory platform, PASSPORT. This comprehensive platform will consolidate the accounting and trading platforms to manage all of its fee-based offerings. In June 2015, OAM announced it would consolidate its entire advisory business representing over $20 billion in assets to Vestmark’s Unified Wealth Management® platform, VestmarkONE®.

The announcement of this platform is the first step in a significant OAM platform improvement project. This project will replace a number of legacy systems and streamline operational processes to improve the advisory and trading tools available to advisors as well as enable OAM to provide better guidance and improve the oversight of its advisory programs. As part of this initial launch, Vestmark and OAM have integrated VestmarkONE with Oppenheimer’s underlying custody and trading platforms.

“We are excited to announce PASSPORT to advisors,” said Bryan McKigney, President of OAM. “Before, Oppenheimer advisors were using different systems to piece together their client’s financial story. With PASSPORT, they will have a full suite of applications right at their fingertips, giving them the power to successfully and holistically provide financial advice, while managing a better relationship with their clients.”

“The need for financial advice is growing rapidly and the only way to meet this growth is to improve advisor efficiency,” said Heeren Pathak, CTO of Vestmark. “VestmarkONE’s alert-driven workflows enable advisors to more efficiently manage their client’s assets as the platform highlights accounts that need attention. These efficient workflows combined with powerful, easy to use trading tools reduce the manual effort advisors spend on executing advice, allowing them to spend more time advising clients and improving their practice.”

Said Bryan McKigney, “Advisors in the wealth management industry are forming a new relationship with technology; one that fosters efficiency and innovation in delivering financial advice, but also creates an environment that helps clients better understand their wealth and performance. This significant first step is a forward-looking start to 2016 and for Oppenheimer’s 1,300 advisors as we look to improve the advisor experience.”

PASSPORT will be made available to Oppenheimer’s advisors in winter 2016.

About Oppenheimer & Co. Inc.:
Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment banking services to high-net-worth individuals, families, corporate executives, local governments, businesses, institutions, charitable organizations and pooled vehicles.

Oppenheimer Holdings Inc.’s other wholly owned subsidiaries include Oppenheimer Asset Management Inc., Oppenheimer Life Agencies Ltd., and Oppenheimer Trust Company of Delaware.

For more information, please visit: https://www.opco.com/

About Vestmark

Headquartered in Wakefield, Mass. and founded in 2001, Vestmark is a leading provider of portfolio management solutions and outsourced services for financial institutions and their advisors, enabling them to efficiently manage customized client portfolios through an innovative technology platform. Supporting over $1.5 trillion in assets and 5.5 million accounts, Vestmark is a partner to some of the largest and most respected wealth management firms. For more information about Vestmark’s solutions, call (781) 224-3640 or visit www.vestmark.com.

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