Oppenheimer today is not the Oppenheimer of old. They have a track record of hiring FAs that other firms won't touch. Very, very scuzzy firm that's riding off whatever equity is left on their name. I don't know how you can explain it, other than there's an awful lot of retail money held by an awful lot of very old people who associate the name "Oppenheimer" with a pro shop, and are too tired/lazy/scared to switch where their wealth is parked. I find it hard to believe this guy carries any weight beyond the relatively small audience he's preaching too.
Do these Oppensleimer advisors have fiduciary duty obligations to their clients? If yes, the dump then pump advice you mentioned is a major SEC violation.
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