Oppenheimer (OPY) 10-Q 31 Oct 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 31, 2014	Oct. 31, 2014
		Class A Stock [Member]	Class B Stock [Member]
Document Information [Line Items]	'	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	30-Sep-14	'	'
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q3	'	'
Entity Registrant Name	'OPPENHEIMER HOLDINGS INC	'	'
Entity Central Index Key	'0000791963	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	13,530,688	99,680

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$77,942	$98,294
Cash and securities segregated for regulatory and other purposes	19,106	36,323
Deposits with clearing organizations	31,611	23,679
Receivable from brokers, dealers and clearing organizations	380,943	364,873
Receivable from customers, net of allowance for credit losses of $2,451 ($2,423 in 2013)	883,133	868,869
Income tax receivable, net	7,801	6,562
Securities purchased under agreements to resell	250,000	184,825
Securities owned, including amounts pledged of $498,928 ($586,625 in 2013), at fair value	806,772	856,088
Notes receivable, net	37,673	40,751
Office facilities, net accumulated depreciation of $102,246 ($97,118 in 2013)	30,518	32,939
Intangible assets	31,700	31,700
Goodwill	137,889	137,889
Loans held for sale	20,095	75,989
Mortgage servicing rights	29,496	28,879
Other assets	131,064	165,060
Total assets	2,875,743	2,952,720
Liabilities	'	'
Drafts payable	24,316	48,198
Bank call loans	135,500	118,200
Payable to brokers, dealers and clearing organizations	204,950	223,315
Payable to customers	689,363	626,564
Securities sold under agreements to repurchase	688,310	757,491
Securities sold, but not yet purchased, at fair value	128,262	76,314
Accrued compensation	138,782	180,119
Accounts payable and other liabilities	170,175	192,552
Senior secured notes	150,000	195,000
Deferred tax liabilities, net	13,519	7,096
Total liabilities	2,343,177	2,424,849
Contingencies	'	'
Share capital	'	'
Common stock	62,397	60,198
Contributed capital	43,950	42,407
Retained earnings	419,861	418,204
Accumulated other comprehensive income	353	1,709
Total Oppenheimer Holdings Inc. stockholdersb equity	526,561	522,518
Non-controlling interest	6,005	5,353
Total stockholdersb equity	532,566	527,871
Total liabilities and stockholdersb equity	2,875,743	2,952,720
Class A Stock [Member]	'	'
Share capital	'	'
Common stock	62,264	60,065
Class B Stock [Member]	'	'
Share capital	'	'
Common stock	$133	$133

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Allowance for credit losses	2,451	2,423
Amounts pledged	498,928	586,625
Net accumulated depreciation	102,246	97,118
Class A Stock [Member]	'	'
Common stock, shares issued	13,530,688	13,377,967
Common stock, shares outstanding	13,530,688	13,377,967
Class B Stock [Member]	'	'
Common stock, shares issued	99,680	99,680
Common stock, shares outstanding	99,680	99,680

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUE	'	'	'	'
Commissions	$110,862	$120,252	$349,062	$364,272
Advisory fees	70,957	60,117	209,592	177,417
Investment banking	33,841	21,362	94,164	62,377
Interest	12,449	14,439	37,387	39,916
Principal transactions, net	4,272	10,347	24,883	33,596
Other	12,298	16,859	34,448	48,774
Total revenue	244,679	243,376	749,536	726,352
EXPENSES	'	'	'	'
Compensation and related expenses	161,334	161,081	493,135	480,296
Communications and technology	15,991	16,999	50,261	48,881
Occupancy and equipment costs	15,801	16,405	47,105	51,111
Clearing and exchange fees	5,969	6,099	17,885	18,434
Interest	4,127	6,164	13,703	20,169
Other	30,561	28,465	111,306	86,911
Total expenses	233,783	235,213	733,395	705,802
Income before income taxes	10,896	8,163	16,141	20,550
Income tax provision	6,271	2,655	9,349	8,083
Net income for the period	4,625	5,508	6,792	12,467
Less net income attributable to non-controlling interest, net of tax	155	271	652	719
Net income attributable to Oppenheimer Holdings Inc.	$4,470	$5,237	$6,140	$11,748
Earnings per share attributable to Oppenheimer Holdings Inc.	'	'	'	'
Basic (in dollars per share)	$0.33	$0.38	$0.45	$0.86
Diluted (in dollars per share)	$0.31	$0.37	$0.43	$0.83
Dividends declared per share (in dollars per share)	$0.11	$0.11	$0.33	$0.33
Weighted average shares	'	'	'	'
Basic (in shares)	13,630,368	13,604,276	13,595,458	13,606,527
Diluted (in shares)	14,297,442	14,171,802	14,217,247	14,110,131

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]	'		'		'	'
Net income for the period	$4,625		$5,508		$6,792	$12,467
Other comprehensive income (loss), net of tax	'		'		'	'
Currency translation adjustment	-1,608		656		-1,356	1,156
Comprehensive income for the period	3,017	[1]	6,164	[1]	5,436	13,623
Less net income attributable to non-controlling interests, net of tax	155		271		652	719
Comprehensive income attributable to Oppenheimer Holdings Inc.	$2,862		$5,893		$4,784	$12,904
[1]	Other comprehensive income is attributable to Oppenheimer Holdings Inc. No other comprehensive income is attributable to non-controlling interests.

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Changes in Stockholders' Equity (USD $)	Total	Share Capital [Member]	Share Capital [Member]	Contributed Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Non-Controlling Interest [Member]
In Thousands			Class A Stock [Member]
Balance at beginning of period at Dec. 31, 2012	'	$62,181	'	$39,231	$399,121	$207	$4,261
Issuance of Class A non-voting common stock	'	'	1,577	'	'	'	'
Repurchase of Class A non-voting common stock for cancellation	'	'	-2,314	'	'	'	'
Tax benefit from share-based awards	'	'	'	-92	'	'	'
Share-based expense	'	'	'	3,863	'	'	'
Vested employee share plan awards	'	'	'	-1,891	'	'	'
Net income for the period attributable to Oppenheimer Holdings Inc.	11,748	'	'	'	11,748	'	'
Dividends paid ($0.33 per share)	'	'	'	'	-4,494	'	'
Currency translation adjustment	1,156	'	'	'	'	'	'
Total Oppenheimer Holdings Inc. stockholders' equity	'	'	'	'	'	510,293	'
Net income attributable to non-controlling interest, net of tax	-719	'	'	'	'	'	719
Balance at end of period at Sep. 30, 2013	515,273	61,444	'	41,111	406,375	1,363	4,980
Balance at beginning of period at Jun. 30, 2013	'	'	'	'	'	'	'
Net income for the period attributable to Oppenheimer Holdings Inc.	5,237	'	'	'	'	'	'
Currency translation adjustment	656	'	'	'	'	'	'
Total Oppenheimer Holdings Inc. stockholders' equity	'	'	'	'	'	510,293	'
Net income attributable to non-controlling interest, net of tax	-271	'	'	'	'	'	'
Balance at end of period at Sep. 30, 2013	515,273	61,444	'	'	'	1,363	'
Balance at beginning of period at Dec. 31, 2013	527,871	60,198	'	42,407	418,204	1,709	5,353
Issuance of Class A non-voting common stock	'	'	2,199	'	'	'	'
Repurchase of Class A non-voting common stock for cancellation	'	'	0	'	'	'	'
Tax benefit from share-based awards	'	'	'	1,275	'	'	'
Share-based expense	'	'	'	4,445	'	'	'
Vested employee share plan awards	'	'	'	-4,177	'	'	'
Net income for the period attributable to Oppenheimer Holdings Inc.	6,140	'	'	'	6,140	'	'
Dividends paid ($0.33 per share)	'	'	'	'	-4,483	'	'
Currency translation adjustment	-1,356	'	'	'	'	'	'
Total Oppenheimer Holdings Inc. stockholders' equity	526,561	'	'	'	'	526,561	'
Net income attributable to non-controlling interest, net of tax	-652	'	'	'	'	'	652
Balance at end of period at Sep. 30, 2014	532,566	62,397	'	43,950	419,861	353	6,005
Balance at beginning of period at Jun. 30, 2014	'	'	'	'	'	'	'
Net income for the period attributable to Oppenheimer Holdings Inc.	4,470	'	'	'	'	'	'
Currency translation adjustment	-1,608	'	'	'	'	'	'
Total Oppenheimer Holdings Inc. stockholders' equity	526,561	'	'	'	'	526,561	'
Net income attributable to non-controlling interest, net of tax	-155	'	'	'	'	'	'
Balance at end of period at Sep. 30, 2014	$532,566	$62,397	'	'	'	$353	'

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (Retained Earnings [Member], USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Retained Earnings [Member]	'	'
Dividends (in US dollars per share)	$0.33	$0.33

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities	'	'
Net income for the period	($6,792)	($12,467)
Adjustments to reconcile net income to net cash provided by operating activities	'	'
Payment of taxes due for share-based awards	-2,074	0
Depreciation and amortization of office facilities and leasehold improvements	5,787	7,434
Deferred income taxes	6,423	13,862
Amortization of notes receivable	12,393	14,086
Amortization of debt issuance costs	408	479
Write-off of debt issuance costs	588	0
Amortization of mortgage servicing rights	2,025	1,120
Provision for credit losses	28	178
Share-based compensation	3,682	3,966
Decrease (increase) in operating assets:	'	'
Cash and securities segregated for regulatory and other purposes	17,217	-3,569
Deposits with clearing organizations	-7,932	900
Receivable from brokers, dealers and clearing organizations	-16,070	84,192
Receivable from customers	-14,292	-55,670
Income tax receivable	-1,239	-5,701
Securities purchased under agreements to resell	-65,175	0
Securities owned	49,316	-322,727
Notes receivable	-9,315	-9,875
Loans held for sale	55,894	-42,883
Mortgage servicing rights less amortization	-2,642	-2,258
Other assets	31,644	-14,407
Increase (decrease) in operating liabilities:	'	'
Drafts payable	-23,882	-20,421
Payable to brokers, dealers and clearing organizations	-18,365	61,725
Payable to customers	62,799	-1,467
Securities sold under agreements to repurchase	-69,181	238,462
Securities sold, but not yet purchased	51,948	69,615
Accrued compensation	-40,574	-17,340
Accounts payable and other liabilities	-22,466	10,780
Cash provided by operating activities	13,737	22,948
Cash flows from investing activities	'	'
Purchase of office facilities	-3,366	-12,642
Cash used in investing activities	-3,366	-12,642
Cash flows from investing activities	'	'
Cash dividends paid on Class A non-voting and Class B voting common stock	-4,483	-4,494
Issuance of Class A non-voting common stock	185	85
Repurchase of Class A non-voting common stock for cancellation	0	-2,314
Tax benefit (deficiency) from share-based awards	1,275	-92
Redemption of senior secured notes	-45,000	0
Increase (decrease) in bank call loans, net	17,300	-33,500
Cash used in financing activities	-30,723	-40,315
Net decrease in cash and cash equivalents	-20,352	-30,009
Cash and cash equivalents, beginning of period	98,294	135,366
Cash and cash equivalents, end of period	77,942	105,357
Schedule of non-cash financing activities	'	'
Employee share plan issuance	2,014	1,492
Supplemental disclosure of cash flow information	'	'
Cash paid during the period for interest	11,400	14,993
Cash paid during the period for income taxes, net of refunds	$4,103	$4,446

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization and Basis of Presentation	'
	Organization and basis of presentation
	Organization
	Oppenheimer Holdings Inc. (“OPY”) is incorporated under the laws of the State of Delaware. The consolidated financial statements include the accounts of OPY and its subsidiaries (together, the “Company”). The principal subsidiaries of OPY are Oppenheimer & Co. Inc. (“Oppenheimer”), a registered broker dealer in securities and investment advisor under the Investment Advisors Act of 1940, Oppenheimer Asset Management Inc. (“OAM”) and its wholly owned subsidiary, Oppenheimer Investment Management Inc. (“OIM”), both registered investment advisors under the Investment Advisors Act of 1940, Oppenheimer Trust Company of Delaware (“Oppenheimer Trust”), a limited purpose trust company that provides fiduciary services such as trust and estate administration and investment management, Oppenheimer Multifamily Housing & Healthcare Finance, Inc. (“OMHHF”), which is engaged in commercial mortgage origination and servicing, OPY Credit Corp., which offers syndication as well as trading of issued corporate loans, Oppenheimer Europe Ltd., based in the United Kingdom with offices in the Isle of Jersey and Switzerland, which provides institutional equities and fixed income brokerage and corporate financial services and is regulated by the Financial Conduct Authority, and Oppenheimer Investments Asia Limited, based in Hong Kong, China, which provides assistance in accessing the U.S. equities markets and limited mergers and acquisitions advisory services to Asia-based companies, as well as offering fixed income brokerage services to institutional investors, and is regulated by the Securities and Futures Commission.
	Oppenheimer provides its services from 94 offices in 25 states located throughout the United States and in 6 foreign jurisdictions. Oppenheimer owns Freedom Investments, Inc. (“Freedom”), a registered broker dealer in securities, which also operates the BUY and HOLD division, offering on-line discount brokerage and dollar-based investing services, and Oppenheimer Israel (OPCO) Ltd., which is engaged in offering investment services in the State of Israel. Freedom has been approved to operate as a representative office in Beijing, China. Oppenheimer holds a trading permit on the New York Stock Exchange and is a member of several other regional exchanges in the United States.
	Basis of Presentation
	The accompanying condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 (the “Form 10-K”). The accompanying December 31, 2013 condensed consolidated balance sheet data was derived from the audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the financial statements and the accompanying disclosures. Although these estimates are based on management’s knowledge of current events and actions that the Company may undertake in the future, actual results may differ materially from the estimates. The condensed consolidated results of operations for the three month and nine month periods ended September 30, 2014 are not necessarily indicative of the results to be expected for any future interim or annual period.
	Certain prior period amounts have been reclassified to conform to the current period presentation.
	Accounting standards require the Company to present non-controlling interests as a separate component of stockholders’ equity on the Company’s condensed consolidated balance sheet. As of September 30, 2014, the Company owned 83.68% of OMHHF and the non-controlling interest recorded in the condensed consolidated balance sheet was $6.0 million.

New_Accounting_Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2014
Accounting Changes and Error Corrections [Abstract]	'
New Accounting Pronouncements	'
	New accounting pronouncements
	Recently Adopted
	In June 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") No. 2013-08 “Financial Services – Investment Companies, Amendments to the Scope, Measurement and Disclosure Requirement.” The ASU clarifies the characteristics of an investment company by amending the measurement criteria for certain interests in other investment companies. Additionally, the ASU introduces new disclosure requirements. The ASU became effective for the Company prospectively beginning January 1, 2014. The adoption of this accounting guidance did not have a material impact on the Company’s condensed consolidated financial statements.
	In July 2013, the FASB issued ASU No. 2013-11 “Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” The ASU provides guidance that an unrecognized tax benefit should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward. The ASU became effective for the Company prospectively beginning January 1, 2014. The adoption of this accounting guidance did not have a material impact on the Company’s condensed consolidated financial statements.
	Recently Issued
	In April 2014, the FASB issued ASU No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” Under this ASU, a discontinued operation is defined as a disposal of a component or group of components that is disposed of and represents a strategic shift that has or will have a major effect on an entity’s operation. The ASU also modified related disclosure requirements. The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2014 and early adoption is permitted. The Company is currently evaluating the impact, if any, that the ASU will have on its financial condition, results of operations and cash flows.
	In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The ASU outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. Additionally, the ASU expands the disclosure requirements for revenue recognition. The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2017 and early adoption is not permitted. The Company is currently evaluating the impact, if any, that the ASU will have on its financial condition, results of operations and cash flows.
	In June 2014, the FASB issued ASU No. 2014-11, "Transfers and Servicing – Repurchase-to-Maturity Transactions, Repurchase Financing, and Disclosures," which makes amendments to the guidance in Accounting Standards Codification 860 on accounting for certain repurchase agreements. The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2015 and early adoption is not permitted. The Company is currently evaluating the impact, if any, that the ASU will have on its financial condition, results of operations and cash flows.
	In June 2014, the FASB issued ASU No. 2014-12, "Compensation - Stock Compensation." The ASU clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based award as performance conditions that affect vesting. The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2015 and early adoption is permitted. The Company will not early adopt this ASU. The Company is currently evaluating the impact, if any, that the ASU will have on its financial condition, results of operations and cash flows.
	In August 2014, the FASB issued ASU No. 2014-15, "Disclosure of Uncertanities About an Entity's Ability to Continue as a Going Concern," which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The ASU requires management of an entity to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements and also provide disclosures if there is "substantial doubt about the entity's ability to continue as a going concern." The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2016 and early adoption is permitted. The Company will evaluate the impact on its disclosure.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Earnings per share
	Basic earnings per share is computed by dividing net income attributable to Oppenheimer Holdings Inc. by the weighted average number of shares of Class A non-voting common stock (“Class A Stock”) and Class B voting common stock (“Class B Stock”) outstanding. The number of shares included in the Company's diluted earnings per share includes the weighted average number of shares of Class A Stock and Class B Stock outstanding and restricted stock awards of Class A Stock using the treasury stock method.
	Earnings per share have been calculated as follows:
	(Expressed in thousands, except number of shares and per share amounts)
		Three Months Ended September 30,				Nine Months Ended September 30,
		2014		2013		2014		2013
	Basic weighted average number of shares outstanding	13,630,368		13,604,276		13,595,458		13,606,527
	Net dilutive effect of share-based awards, treasury method (1)	667,074		567,526		621,789		503,604
	Diluted weighted average number of shares outstanding	14,297,442		14,171,802		14,217,247		14,110,131
	Net income for the period	$	4,625	$	5,508	$	6,792	$	12,467
	Net income attributable to non-controlling interest, net of tax	155		271		652		719
	Net income attributable to Oppenheimer Holdings Inc.	$	4,470	$	5,237	$	6,140	$	11,748
	Basic earnings per share	$	0.33	$	0.38	$	0.45	$	0.86
	Diluted earnings per share	$	0.31	$	0.37	$	0.43	$	0.83
	-1	For both the three and nine months ended September 30, 2014, the diluted earnings per share computation does not include the anti-dilutive effect of 58,008 shares of Class A Stock granted under share-based compensation arrangements (57,573 shares of Class A Stock granted under share-based compensation arrangements for the three and nine months ended September 30, 2013).

Receivable_from_and_Payable_to

Receivable from and Payable to Brokers, Dealers and Clearing Organizations	9 Months Ended
	Sep. 30, 2014
Brokers and Dealers [Abstract]	'
Receivable from and Payable to Brokers, Dealers and Clearing Organizations	'
	Receivable from and payable to brokers, dealers and clearing organizations
	(Expressed in thousands)
		As of
		30-Sep-14		31-Dec-13
	Receivable from brokers, dealers and clearing organizations consist of:
	Securities borrowed	$	267,643	$	274,127
	Receivable from brokers	52,616		23,384
	Securities failed to deliver	24,476		9,628
	Clearing organizations	21,705		26,446
	Omnibus accounts	—		18,086
	Other	14,503		13,202
	Total	$	380,943	$	364,873
	Payable to brokers, dealers and clearing organizations consist of:
	Securities loaned	$	164,095	$	211,621
	Securities failed to receive	32,297		5,346
	Clearing organizations and other	8,558		6,348
	Total	$	204,950	$	223,315

Financial_Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Financial Instruments	'
	Financial instruments
	Securities owned and securities sold but not yet purchased, investments and derivative contracts are carried at fair value with changes in fair value recognized in earnings each period. The Company’s other financial instruments are generally short-term in nature or have variable interest rates and as such their carrying values approximate fair value.
	Securities Owned and Securities Sold, But Not Yet Purchased at Fair Value
	(Expressed in thousands)
		As of September 30, 2014								As of December 31, 2013
		Owned				Sold				Owned			Sold
	U.S. Government, agency and sovereign obligations	$	522,010			$	67,496			$	596,114		$	11,889
	Corporate debt and other obligations	19,922				3,010				14,673			4,847
	Mortgage and other asset-backed securities	4,792				—				3,395			7
	Municipal obligations	62,250				55				40,166			72
	Convertible bonds	58,795				8,229				53,719			13,922
	Corporate equities	49,012				49,457				61,634			45,336
	Money markets	2,668				15				1,263			241
	Auction rate securities	87,323				—				85,124			—
	Total	$	806,772			$	128,262			$	856,088		$	76,314
	Securities owned and securities sold, but not yet purchased, consist of trading and investment securities at fair values. Included in securities owned at September 30, 2014 are corporate equities with estimated fair values of approximately $15.4 million ($15.3 million at December 31, 2013), which are related to deferred compensation liabilities to certain employees included in accrued compensation on the condensed consolidated balance sheet.
	Valuation Techniques
	A description of the valuation techniques applied and inputs used in measuring the fair value of the Company’s financial instruments is as follows:
	U.S. Government Obligations
	U.S. Treasury securities are valued using quoted market prices obtained from active market makers and inter-dealer brokers and, accordingly, are categorized in Level 1 of the fair value hierarchy.
	U.S. Agency Obligations
	U.S. agency securities consist of agency issued debt securities and mortgage pass-through securities. Non-callable agency issued debt securities are generally valued using quoted market prices. Callable agency issued debt securities are valued by benchmarking model-derived prices to quoted market prices and trade data for identical or comparable securities. The fair value of mortgage pass-through securities are model driven with respect to spreads of the comparable To-be-announced (“TBA”) security. Actively traded non-callable agency-issued debt securities are categorized in Level 1 of the fair value hierarchy. Callable agency-issued debt securities and mortgage pass-through securities are generally categorized in Level 2 of the fair value hierarchy.
	Sovereign Obligations
	The fair value of sovereign obligations is determined based on quoted market prices when available or a valuation model that generally utilizes interest rate yield curves and credit spreads as inputs. Sovereign obligations are categorized in Level 1 or 2 of the fair value hierarchy.
	Corporate Debt and Other Obligations
	The fair value of corporate bonds is estimated using recent transactions, broker quotations and bond spread information. Corporate bonds are generally categorized in Level 2 of the fair value hierarchy.
	Mortgage and Other Asset-Backed Securities
	The Company holds non-agency securities collateralized by home equity and various other types of collateral which are valued based on external pricing and spread data provided by independent pricing services and are generally categorized in Level 2 of the fair value hierarchy. When specific external pricing is not observable, the valuation is based on yields and spreads for comparable bonds and, consequently, the positions are categorized in Level 3 of the fair value hierarchy.
	Municipal Obligations
	The fair value of municipal obligations is estimated using recently executed transactions, broker quotations, and bond spread information. These obligations are generally categorized in Level 2 of the fair value hierarchy; in instances where significant inputs are unobservable, they are categorized in Level 3 of the fair value hierarchy.
	Convertible Bonds
	The fair value of convertible bonds is estimated using recently executed transactions and dollar-neutral price quotations, where observable. When observable price quotations are not available, fair value is determined based on cash flow models using yield curves and bond spreads as key inputs. Convertible bonds are generally categorized in Level 2 of the fair value hierarchy; in instances where significant inputs are unobservable, they are categorized in Level 3 of the fair value hierarchy.
	Corporate Equities
	Equity securities and options are generally valued based on quoted prices from the exchange or market where traded and categorized as Level 1 of the fair value hierarchy. To the extent quoted prices are not available, fair values are generally derived using bid/ask spreads, and these securities are generally categorized in Level 2 of the fair value hierarchy.
	Loans Held for Sale
	The loans held for sale are reported at fair value. The Company determines the fair value of the loans held for sale using both a discounted cash flow model and quoted observable prices from market participants. Therefore, the Company categorizes these loans held for sale in Level 2 of the fair value hierarchy.
	Interest Rate Lock Commitments
	OMHHF records an interest rate lock commitment upon the commitment to originate a loan with a borrower. This commitment, which can be an asset or a liability, is recognized at fair value, which reflects the fair value of the contractual loan origination related fees and sale premiums, net of co-broker fees, and the estimated fair value of the expected net future cash flows associated with the servicing of the loan. The interest rate lock commitments are valued using a discounted cash flow model developed based on U.S. Treasury rate changes and other observable market data. The fair value is determined after considering the potential impact of collateralization, and the Company categorizes these commitments within Level 3 of the fair value hierarchy.
	To-Be-Announced (“TBA”) sale contracts
	TBA sale contracts of permanent loans originated or purchased at OMHHF are based on observable market prices of recently executed purchases of similar loans which are then used to derive a market implied spread, which in turn is used as the primary input in estimating the fair value of loans at the measurement date. TBA sale contracts of construction loans originated or purchased at OMHHF are based on observable market prices of recently executed purchases. TBA sale contracts are categorized within Level 2 of the fair value hierarchy given the observability and volume of recently executed transactions.
	Mortgage Servicing Rights (“MSRs”)
	The Company’s MSRs are measured at fair value on a nonrecurring basis. The MSRs are initially measured at fair value on the loan securitization date and subsequently measured on the amortized cost basis subject to quarterly impairment testing. MSRs do not trade in active open markets with readily observable pricing. Therefore the Company uses a discounted cash flow model to estimate the fair value of MSRs. The discounted cash flow model calculates the present value of estimated future net servicing income using inputs such as contractually specified servicing fees, prepayment assumptions, delinquency rates, late charges, other ancillary revenue, costs to service and other economic factors. The Company reassesses and periodically adjusts the underlying inputs and assumptions used in the model to reflect observable and unobservable market conditions and assumptions that a market participant would consider in valuing an MSR asset. MSRs are carried at the lower of amortized cost or estimated fair value.
	The following key assumptions were used in determining the initial fair value of MSRs:
	Discount Rate – The discount rate used for originated permanent and construction loans averaged approximately 12%.
	Estimated Life – The estimated life of the MSRs is derived using a continuous prepayment (“CPR”) assumption which estimates projected prepayments of the loan portfolio by considering factors such as note rates, lockouts, and prepayment penalties at the loan level. The CPR rates used are 0% until such time that a loan's prepayment penalty rate hits 4% of the unpaid principal balance of the loan with the vast majority of CPR speeds ranging from 10% to 15% thereafter, with an average of 12%.
	Servicing Costs – The estimated future cost to service the loans on an annual basis per loan averages approximately $1,250 for a permanent loan, with a considerably higher cost to service during the construction phase.
	The Company does not anticipate any credit losses on the commercial mortgages it services since all of the mortgages are insured for and guaranteed against credit losses by the Federal Housing Administration (“FHA”) and the Government National Mortgage Association (“GNMA”) and are thus guaranteed by the U.S. government.
	Auction Rate Securities ("ARS")
	In February 2010, Oppenheimer finalized settlements with each of the New York Attorney General’s office (“NYAG”) and the Massachusetts Securities Division (“MSD” and, together with the NYAG, the “Regulators”) concluding investigations and administrative proceedings by the Regulators concerning Oppenheimer’s marketing and sale of ARS. Pursuant to the settlements with the Regulators, Oppenheimer agreed to extend offers to repurchase ARS from certain of its clients subject to certain terms and conditions more fully described below. In addition to the settlements with the Regulators, Oppenheimer has also reached settlements of and received adverse awards in legal proceedings with various clients where the Company is obligated to purchase ARS. Pursuant to completed Purchase Offers (as defined) under the settlements with the Regulators and client related legal settlements and awards to purchase ARS, as of September 30, 2014, the Company purchased and holds (net of redemptions) approximately $94.8 million in ARS from its clients. In addition, the Company is committed to purchase another $13.1 million in ARS from clients through 2016 under legal settlements and awards.
	The ARS positions that the Company owns and are committed to purchase primarily represent auction rate preferred securities issued by closed-end funds and, to a lesser extent, municipal auction rate securities which are municipal bonds wrapped by municipal bond insurance and student loan auction rate securities which are asset-backed securities backed by student loans.
	Interest rates on ARS typically reset through periodic auctions. Due to the auction mechanism and generally liquid markets, ARS have historically been categorized as Level 1 of the fair value hierarchy. Beginning in February 2008, uncertainties in the credit markets resulted in substantially all of the ARS market experiencing failed auctions. Once the auctions failed, the ARS could no longer be valued using observable prices set in the auctions. The Company has used less observable determinants of the fair value of ARS, including the strength in the underlying credits, announced issuer redemptions, completed issuer redemptions, and announcements from issuers regarding their intentions with respect to their outstanding ARS. The Company has also developed an internal methodology to discount for the lack of liquidity and non-performance risk of the failed auctions. Due to liquidity problems associated with the ARS market, ARS that lack liquidity are setting their interest rates according to a maximum rate formula. For example, an auction rate preferred security maximum rate may be set at 200% of a short-term index such as LIBOR or U.S. Treasury yield. For fair value purposes, the Company has determined that the maximum spread would be an adequate risk premium to account for illiquidity in the market. Accordingly, the Company applies a spread to the short-term index for each asset class to derive the discount rate. The Company uses short-term U.S. Treasury yields as its benchmark short-term index. The risk of non-performance is typically reflected in the prices of ARS positions where the fair value is derived from recent trades in the secondary market. Accordingly, the Company adds a spread to the short-term index for each asset class to derive the discount rate. The Company uses short-term U.S. Treasury yields as its benchmark short-term index.
	The ARS purchase commitment, or derivative liability, arises from both the settlements with the Regulators and legal settlements and awards. The ARS purchase commitment represents the difference between the principal value and the fair value of the ARS the Company is committed to purchase. The Company utilizes the same valuation methodology for the ARS purchase commitment as it does for the ARS it owns. Additionally, the present value of the future principal value of ARS purchase commitments under legal settlements and awards is used in the discounted valuation model to reflect the time value of money over the period of time that the commitments are outstanding. The amount of the ARS purchase commitment only becomes determinable once the Company has met with its primary regulator and the NYAG and agreed upon a buyback amount, commenced the ARS buyback offer to clients, and received notice from its clients which ARS they are tendering. As a result, it is not possible to observe the current yields actually paid on the ARS until all of these events have happened which is typically very close to the time that the Company actually purchases the ARS. For ARS purchase commitments pursuant to legal settlements and awards, the criteria for purchasing ARS from clients is based on the nature of the settlement or award which will stipulate a time period and amount for each repurchase. The Company will not know which ARS will be tendered by the client until the stipulated time for repurchase is reached. Therefore, the Company uses the current yields of ARS owned in its discounted valuation model to determine a fair value of ARS purchase commitments. The Company also uses these current yields by asset class (i.e., auction rate preferred securities, municipal auction rate securities, and student loan auction rate securities) in its discounted valuation model to determine the fair value of ARS purchase commitments. In addition, the Company uses the discount rate and duration of ARS owned, by asset class, as a proxy for the duration of ARS purchase commitments.
	Additional information regarding the valuation technique and inputs for level 3 financial instruments used is as follows:
	(Expressed in thousands)
	Quantitative Information about Level 3 Fair Value Measurements at September 30, 2014
	Product	Principal				Valuation				Fair Value			Valuation Technique		Unobservable Input	Range		Weighted
						Adjustment												Average
	Auction Rate Securities Owned (1)
	Auction Rate Preferred Securities	$	74,400			$	4,392			$	70,008		Discounted Cash Flow		Discount Rate (2)	1.54% to 2.1%		1.82%
															Duration	4.0 years		4.0 years
															Current Yield (3)	0.09% to 0.46%		0.28%
	Municipal Auction Rate Securities	10,400				1,118				9,282			Discounted Cash Flow		Discount Rate (4)	2.76%		2.76%
															Duration	4.5 years		4.5 years
														Current Yield (3)	0.19%		0.19%
	5,975				624				5,351			Secondary Market Trading Activity		Observable trades in inactive market for in portfolio securities	89.60% of par		89.60% of par
Student Loan Auction Rate Securities	400				60				340			Discounted Cash Flow		Discount Rate (5)	3.40%		3.40%
														Duration	7.0 years		7.0 years
														Current Yield (3)	0.98%		0.98%
Other (7)	3,625				1,283				2,342			Secondary Market Trading Activity		Observable trades in inactive market for in portfolio securities	64.60% of par		64.60% of par
	$	94,800			$	7,477			$	87,323
Auction Rate Securities Commitments to Purchase (6)
Auction Rate Preferred Securities	$	7,582			$	424			$	7,158		Discounted Cash Flow		Discount Rate (2)	1.54% to 2.1%		1.82%
														Duration	4.0 years		4.0 years
														Current Yield (3)	0.09% to 0.46%		0.28%
Municipal Auction Rate Securities	4,952				533				4,419			Discounted Cash Flow		Discount Rate (4)	2.76%		2.76%
														Duration	4.5 years		4.5 years
														Current Yield (3)	0.19%		0.19%
Student Loan Auction Rate Securities	538				80				458			Discounted Cash Flow		Discount Rate (5)	3.40%		3.40%
														Duration	7.0 years		7.0 years
														Current Yield (3)	0.98%		0.98%
	$	13,072			$	1,037			$	12,035
Total	$	107,872			$	8,514			$	99,358
-1	Principal amount represents the par value of the ARS and is included in securities owned in the condensed consolidated balance sheet at September 30, 2014. The valuation adjustment amount is included as a reduction to securities owned in the condensed consolidated balance sheet as well as principal transactions revenue in the statements of income at September 30, 2014.
(2)Derived by applying a multiple to the spread between 110% to 150% to the U.S. Treasury rate of 1.40%.
(3)Based on current auctions in comparable securities that have not failed.
(4)Derived by applying a multiple to the spread of 175% to the U.S. Treasury rate of 1.58%.
(5)Derived by applying the sum of the spread of 1.20% to the U.S. Treasury rate of 2.20%.
-6	Principal amount represents the present value of the ARS par value that the Company is committed to purchase at a future date. This principal amount is presented as an off-balance sheet item. The valuation adjustment amount is included in accounts payable and other liabilities on the condensed consolidated balance sheet at September 30, 2014.
-7	Represents ARS issued by a credit default obligation structure that the Company has purchased and is committed to purchase as a result of a legal settlement.
The fair value of ARS and ARS purchase commitments is particularly sensitive to movements in interest rates. Increases in short-term interest rates would increase the discount rate input used in the ARS valuation and thus reduce the fair value of the ARS (increase the valuation adjustment). Conversely, decreases in short-term interest rates would decrease the discount rate and thus increase the fair value of ARS (decrease the valuation adjustment). However, an increase (decrease) in the discount rate input would be partially mitigated by an increase (decrease) in the current yield earned on the underlying ARS asset increasing the cash flows and thus the fair value. Furthermore, movements in short term interest rates would likely impact the ARS duration (i.e., sensitivity of the price to a change in interest rates), which would also have a mitigating effect on interest rate movements. For example, as interest rates increase, issuers of ARS have an incentive to redeem outstanding securities as servicing the interest payments gets prohibitively expensive which would lower the duration assumption thereby increasing the ARS fair value. Alternatively, ARS issuers are less likely to redeem ARS in a lower interest rate environment as it is a relatively inexpensive source of financing which would increase the duration assumption thereby decreasing the ARS fair value. For example, see the following sensitivities:
•	The impact of a 25 basis point increase in the discount rate at September 30, 2014 would result in a decrease in the fair value of $910,000 does not consider a corresponding reduction in duration as discussed above.
•	The impact of a 50 basis point increase in the discount rate at September 30, 2014 would result in a decrease in the fair value of $1.8 million does not consider a corresponding reduction in duration as discussed above.
These sensitivities are hypothetical and are based on scenarios where they are “stressed” and should be used with caution. These estimates do not include all of the interplay among assumptions and are estimated as a portfolio rather than as individual assets.
Due to the less observable nature of these inputs, the Company categorizes ARS in Level 3 of the fair value hierarchy. As of September 30, 2014, the Company had a valuation adjustment (unrealized loss) of $7.5 million for ARS owned which is included in principal transactions on the condensed consolidated statement of income. As of September 30, 2014, the Company also had a valuation adjustment of $1.0 million on ARS purchase commitments from settlements with the Regulators and legal settlements and awards which is included in other revenue on the condensed consolidated statement of income. The total valuation adjustment was $8.5 million as of September 30, 2014. The valuation adjustment represents the difference between the principal value and the fair value of the ARS owned and ARS purchase commitments.
Investments
In its role as general partner in certain hedge funds and private equity funds, the Company, through its subsidiaries, holds direct investments in such funds. The Company uses the net asset value of the underlying fund as a basis for estimating the fair value of its investment. Due to the illiquid nature of these investments and difficulties in obtaining observable inputs, these investments are included in Level 3 of the fair value hierarchy.
The following table provides information about the Company’s investments in Company-sponsored funds at September 30, 2014:
(Expressed in thousands)
	Fair Value				Unfunded				Redemption Frequency		Redemption
					Commitments						Notice Period
Hedge funds(1)	$	1,540			$	—			Quarterly - Annually		30 - 120 Days
Private equity funds(2)	6,178				1,996				N/A		N/A
	$	7,718			$	1,996
-1	Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. Each hedge fund has various restrictions regarding redemption; no investment is locked-up for a period greater than one year.
-2	Includes private equity funds and private equity fund of funds with a focus on diversified portfolios, real estate and global natural resources. Due to the illiquid nature of these funds, investors are not permitted to make withdrawals without consent of the general partner. The lock-up period of the private equity fund is expected to be 10 years.
Derivative Contracts
From time to time, the Company transacts in exchange-traded and over-the-counter derivative transactions to manage its interest rate risk. Exchange-traded derivatives, namely U.S. Treasury futures, Federal funds futures and Eurodollar futures, are valued based on quoted prices from the exchange and are categorized in Level 1 of the fair value hierarchy. Over-the-counter derivatives are valued using a discounted cash flow model and the Black-Scholes model, respectively, using observable interest rate inputs and are categorized in Level 2 of the fair value hierarchy.
As described below in “Credit Concentrations”, the Company participates in loan syndications and operates as an underwriting agent in leveraged financing transactions where it utilizes a warehouse facility provided by a commercial bank to extend financing commitments to third-party borrowers identified by the Company. The Company uses broker quotations on loans trading in the secondary market as a proxy to determine the fair value of the underlying loan commitment which is categorized in Level 3 of the fair value hierarchy. The Company also purchases and sells loans in its proprietary trading book. The Company uses broker quotations to determine the fair value of loan positions held which are categorized in Level 2 of the fair value hierarchy.
Valuation Process
The Finance & Accounting (“F&A”) group is responsible for the Company’s fair value policies, processes and procedures. F&A is independent from the business units and trading desks and is headed by the Company’s Chief Financial Officer ("CFO"), who has final authority over the valuation of the Company’s financial instruments. The Finance Control Group (“FCG”) within F&A is responsible for daily profit and loss reporting, front-end trading system position reconciliations, monthly profit and loss reporting, and independent price verification procedures.
For financial instruments categorized in Levels 1 and 2 of the fair value hierarchy, the FCG performs a monthly independent price verification to determine the reasonableness of the prices provided by the Company’s independent pricing vendor. The FCG uses its third-party pricing vendor, executed transactions, and broker-dealer quotes for validating the fair values of financial instruments.
For financial instruments categorized in Level 3 of the fair value hierarchy measured on a recurring basis, primarily for ARS, a group comprised of the CFO, the Controller, and a financial analyst are responsible for the ARS valuation model and resulting fair valuations. Procedures performed include aggregating all ARS owned by type from firm inventory accounts and ARS purchase commitments from regulatory and legal settlements and awards provided by the Legal Department. Observable and unobservable inputs are aggregated from various sources and entered into the ARS valuation model. For unobservable inputs, the group reviews the appropriateness of the inputs to ensure consistency with how a market participant would arrive at the unobservable input. For example, for the duration assumption, the group would consider recent policy statements regarding short-term interest rates by the Federal Reserve and recent ARS issuer redemptions and announcements for future redemptions. The model output is reviewed for reasonableness and consistency. Where available, comparisons are performed between ARS owned or committed to purchase to ARS that are trading in the secondary market.
For financial instruments categorized in Level 3 of the fair value hierarchy measured on a non-recurring basis, primarily for MSRs, the OMHHF Valuation Committee, which is comprised of the OMHHF President & Chief Executive Officer, OMHHF CFO, OMHHF Chief Operating Officer, and OMHHF Asset Manager, is responsible for the MSR model and resulting fair valuations. The OMHHF Valuation Committee performs its review of the model and assumptions and its impairment analysis on a quarterly basis. On an annual basis, the Company utilizes an external valuation consultant to validate that the internal MSR model is functioning appropriately. The OMHHF Valuation Committee compares assumptions used for unobservable inputs, such as for discount rates, estimated life, and costs of servicing, to that used by the external valuation consultant for reasonableness. The model output and resulting valuation multiples are reviewed for reasonableness and consistency. Where available, comparisons are performed to recent MSR sales in the secondary market. The Company’s management reviews the results of both the quarterly reviews and annual impairment analysis.
Assets and Liabilities Measured at Fair Value
The Company’s assets and liabilities, recorded at fair value on a recurring basis as of September 30, 2014 and December 31, 2013, have been categorized based upon the above fair value hierarchy as follows:
Assets and liabilities measured at fair value on a recurring basis as of September 30, 2014
(Expressed in thousands)
	Fair Value Measurements at September 30, 2014
	Level 1				Level 2				Level 3			Total
Assets
Cash equivalents	$	33,364			$	—			$	—		$	33,364
Deposits with clearing organizations	16,595				—				—			16,595
Securities owned:
U.S. Treasury securities	503,509				—				—			503,509
U.S. Agency securities	—				15,067				—			15,067
Sovereign obligations	—				3,434				—			3,434
Corporate debt and other obligations	—				19,922				—			19,922
Mortgage and other asset-backed securities	—				4,792				—			4,792
Municipal obligations	—				62,121				129			62,250
Convertible bonds	—				58,795				—			58,795
Corporate equities	49,012				—				—			49,012
Money markets	2,668				—				—			2,668
Auction rate securities	—				—				87,323			87,323
Securities owned, at fair value	555,189				164,131				87,452			806,772
Investments (1)	98				49,597				8,423			58,118
Loans held for sale	—				20,095				—			20,095
Securities purchased under agreements to resell (2)	—				250,000				—			250,000
Derivative contracts:
TBAs	—				1,774				—			1,774
Interest rate lock commitments	—				—				5,511			5,511
Derivative contracts, total	—				1,774				5,511			7,285
Total	$	605,246			$	485,597			$	101,386		$	1,192,229
Liabilities
Securities sold, but not yet purchased:
U.S. Treasury securities	$	67,472			$	—			$	—		$	67,472
U.S. Agency securities	—				24				—			24
Corporate debt and other obligations	—				3,010				—			3,010
Municipal obligations	—				55				—			55
Convertible bonds	—				8,229				—			8,229
Corporate equities	49,457				—				—			49,457
Money markets	15				—				—			15
Securities sold, but not yet purchased at fair value	116,944				11,318				—			128,262
Derivative contracts:
U.S. treasury futures	87				—				—			87
Federal funds futures	135				—							135
Eurodollars futures	60				—				—			60
General collateral futures	2				—				—			2
TBAs	—				33				—			33
Interest rate lock commitments	—				—				3,188			3,188
ARS purchase commitments	—				—				1,037			1,037
Derivative contracts, total	284				33				4,225			4,542
Total	$	117,228			$	11,351			$	4,225		$	132,804
-1	Included in other assets on the condensed consolidated balance sheet.
-2	Included in securities purchased under agreements to resell where the Company has elected fair value option treatment.
Assets and liabilities measured at fair value on a recurring basis as of December 31, 2013
(Expressed in thousands)
	Fair Value Measurements at December 31, 2013
	Level 1				Level 2				Level 3			Total
Assets
Cash equivalents	$	60,268			$	—			$	—		$	60,268
Securities segregated for regulatory and other purposes	11,495				—				—			11,495
Deposits with clearing organizations	10,492				—				—			10,492
Securities owned:
U.S. Treasury securities	566,346				—				—			566,346
U.S. Agency securities	—				29,448				—			29,448
Sovereign obligations	—				320				—			320
Corporate debt and other obligations	—				14,673				—			14,673
Mortgage and other asset-backed securities	—				3,395				—			3,395
Municipal obligations	—				39,930				236			40,166
Convertible bonds	—				53,719				—			53,719
Corporate equities	61,634				—				—			61,634
Money markets	1,263				—				—			1,263
Auction rate securities	—				—				85,124			85,124
Securities owned, at fair value	629,243				141,485				85,360			856,088
Investments (1)	10,775				47,726				5,946			64,447
Loans held for sale	—				75,989				—			75,989
Securities purchased under agreements to resell (2)	—				184,000				—			184,000
Derivative contracts:
TBAs	—				2,155				—			2,155
Interest rate lock commitments	—				—				2,375			2,375
Derivative contracts, total	—				2,155				2,375			4,530
Total	$	722,273			$	451,355			$	93,681		$	1,267,309
Liabilities
Securities sold, but not yet purchased:
U.S. Treasury securities	$	11,837			$	—			$	—		$	11,837
U.S. Agency securities	—				52				—			52
Corporate debt and other obligations	—				4,847				—			4,847
Mortgage and other asset-backed securities	—				7				—			7
Municipal obligations	—				72				—			72
Convertible bonds	—				13,922				—			13,922
Corporate equities	45,336				—				—			45,336
Money markets	241				—				—			241
Securities sold, but not yet purchased at fair value	57,414				18,900				—			76,314
Investments	648				—				—			648
Derivative contracts:
U.S. treasury futures	186				—				—			186
Federal funds futures	18				—				—			18
Eurodollars futures	44				—				—			44
TBAs	—				73				—			73
Interest rate lock commitments	—				—				3,653			3,653
ARS purchase commitments	—				—				2,600			2,600
Derivative contracts, total	248				73				6,253			6,574
Total	$	58,310			$	18,973			$	6,253		$	83,536
-1	Included in other assets on the condensed consolidated balance sheet.
-2	Included in securities purchased under agreements to resell where the Company has elected fair value option treatment.
There were no transfers between Level 1 and Level 2 financial assets and liabilities in the three months ended September 30, 2014.
The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three months ended September 30, 2014 and 2013:
(Expressed in thousands)
	Level 3 Assets and Liabilities
	For the Three Months Ended September 30, 2014
					Total Realized
					and Unrealized
	Beginning				Gains				Purchases			Sales and			Transfers			Ending
	Balance				(Losses) (5)(6)				and Issuances (7)			Settlements			In (Out)			Balance
Assets
Municipals	$	52			$	77			$	—		$	—		$	—		$	129
Auction rate securities (1)(8)	92,548				(645		)		2,375			(6,955		)	—			87,323
Interest rate lock commitments (2)	10,528				(5,017		)		—			—			—			5,511
Investments (3)	8,779				(254		)		180			(282		)	—			8,423
Liabilities
Interest rate lock commitments (2)	3,833				645				—			—			—			3,188
ARS purchase commitments (4)	1,514				477				—			—			—			1,037
-1	Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market.
-2	Interest rate lock commitment assets and liabilities are recorded upon the commitment to originate a loan with a borrower and sell the loan to an investor. The commitment assets and liabilities are recognized at fair value, which reflects the fair value of the contractual loan origination related fees and sale premiums, net of co-broker fees, and the estimated fair value of the expected net future cash flows associated with the servicing of the loan.
-3	Primarily represents general partner ownership and limited partner interests in hedge funds and private equity funds sponsored by the Company.
-4	Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period.
-5	Included in principal transactions on the condensed consolidated statement of income, except for investments which are included in other income on the condensed consolidated statement of income.
-6	Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date.
-7	Purchases and issuances in connection with ARS purchase commitments represent instances in which the Company purchased ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that satisfy the outstanding commitment to purchase obligation. This also includes instances where the ARS issuer has redeemed ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ARS.
-8	Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the period for regulatory and legal ARS settlements and awards.
(Expressed in thousands)
	Level 3 Assets and Liabilities
	For the Three Months Ended September 30, 2013
					Total Realized
					and Unrealized
	Beginning				Gains				Purchases			Sales and			Transfers			Ending
	Balance				(Losses) (5)(6)				and Issuances (7)			Settlements			In (Out)			Balance
Assets
Mortgage and other asset-backed securities (1)	$	67			$	—			$	—		$	(8	)	$	(59	)	$	—
Municipals	236				—				—			—			—			236
Auction rate securities (2)(8)	78,076				(245		)		2,750			(150		)	—			80,431
Investments (3)	12,974				(413		)		1,000			(7,435		)	—			6,126
Liabilities
ARS purchase commitments (4)	2,329				(83		)		—			—			—			2,412
-1	Represents private placements of non-agency collateralized mortgage obligations.
-2	Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market.
-3	Primarily represents general partner ownership interests in hedge funds and private equity funds sponsored by the Company.
-4	Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period.
-5	Included in principal transactions on the condensed consolidated statement of income, except for investments which are included in other income on the condensed consolidated statement of income.
-6	Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date.
-7	Purchases and issuances in connection with ARS purchase commitments represent instances in which the Company purchased ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that satisfy the outstanding commitment to purchase obligation. This also includes instances where the ARS issuer has redeemed ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ARS.
-8	Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the period for regulatory and legal ARS settlements and awards.
The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the nine months ended September 30, 2014 and 2013:
(Expressed in thousands)
	Level 3 Assets and Liabilities
	For the Nine Months Ended September 30, 2014
					Total Realized
					and Unrealized
	Beginning				Gains				Purchases			Sales and			Transfers			Ending
	Balance				(Losses) (5)(6)				and Issuances (7)			Settlements			In (Out)			Balance
Assets
Municipals	$	236			$	(107	)		$	—		$	—		$	—		$	129
Auction rate securities (1)(8)	85,124				(971		)		16,550			(13,380		)	—			87,323
Interest rate lock commitments (2)	2,375				3,136				—			—			—			5,511
Investments (3)	5,946				(341		)		4,444			(1,006		)	(620		)	8,423
Liabilities
Interest rate lock commitments (2)	3,653				465				—			—			—			3,188
ARS purchase commitments (4)	2,600				1,563				—			—			—			1,037
-1	Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market.
-2	Interest rate lock commitments assets and liabilities are recorded upon the commitment to originate a loan with a borrower and sell the loan to an investor. The commitment assets and liabilities are recognized at fair value, which reflects the fair value of the contractual loan origination related fees and sale premiums, net of co-broker fees, and the estimated fair value of the expected net future cash flows associated with the servicing of the loan.
-3	Primarily represents general partner ownership and limited partner interests in hedge funds and private equity funds sponsored by the Company.
-4	Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period.
-5	Included in principal transactions on the condensed consolidated statement of income, except for investments which are included in other income on the condensed consolidated statement of income.
-6	Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date.
-7	Purchases and issuances in connection with ARS purchase commitments represent instances in which the Company purchased ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that satisfy the outstanding commitment to purchase obligation. This also includes instances where the ARS issuer has redeemed ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ARS.
-8	Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the period for regulatory and legal ARS settlements and awards.
(Expressed in thousands)
	Level 3 Assets and Liabilities
	For the Nine Months Ended September 30, 2013
					Total Realized
					and Unrealized
	Beginning				Gains				Purchases			Sales and			Transfers			Ending
	Balance				(Losses) (5)(6)				and Issuances (7)			Settlements			In (Out)			Balance
Assets
Mortgage and other asset-backed securities (1)	$	40			$	—			$	—		$	(8	)	$	(32	)	$	—
Municipals	239				(3		)		—			—			—			236
Auction rate securities (2)(8)	72,118				(437		)		13,175			(4,425		)	—			80,431
Investments (3)	12,954				210				1,000			(8,038		)	—			6,126
Liabilities
Auction rate securities (2)	100				—				100			—			—			—
ARS purchase commitments (4)	2,647				235				—			—			—			2,412
-1	Represents private placements of non-agency collateralized mortgage obligations.
-2	Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market.
-3	Primarily represents general partner ownership interests in hedge funds and private equity funds sponsored by the Company.
-4	Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period.
-5	Included in principal transactions on the condensed consolidated statement of income, except for investments which are included in other income on the condensed consolidated statement of income.
-6	Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date.
-7	Purchases and issuances in connection with ARS purchase commitments represent instances in which the Company purchased ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that satisfy the outstanding commitment to purchase obligation. This also includes instances where the ARS issuer has redeemed ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ARS.
-8	Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the period for regulatory and legal ARS settlements and awards.
Financial Instruments Not Measured at Fair Value
The tables below present the carrying value, fair value and fair value hierarchy category of certain financial instruments that are not measured at fair value in the condensed consolidated balance sheets. The tables below exclude non-financial assets and liabilities (e.g., office facilities and accrued compensation).
The carrying value of financial instruments not measured at fair value categorized in the fair value hierarchy as Level 1 or Level 2 (e.g., cash and receivables from customers) approximates fair value because of the relatively short period of time between their origination and expected maturity. The fair value of the Company’s 8.75% Senior Secured Notes, categorized in Level 2 of the fair value hierarchy, is based on quoted prices from the market in which the Notes trade.
The fair value of MSRs is based on observable and unobservable inputs and thus categorized as Level 3 in the fair value hierarchy. The fair value of MSRs is based on a discounted cash flow valuation methodology on a loan level basis that determines the present value of future cash flows expected to be realized. The fair value considers estimated future servicing fees and ancillary revenue, offset by the estimated costs to service the loans. The discounted cash flow model considers portfolio characteristics, contractually specified servicing fees, prepayment speed assumptions, delinquency rates, costs to service, late charges, and other ancillary revenue, and other economic factors such as interest rates. The fair value of MSRs is sensitive to changes in interest rates, including the effect on prepayment speeds. MSRs typically decrease in value when interest rates decline as declining interest rates tend to increase prepayments and therefore reduce the expected life of the net servicing cash flows that make up the MSR asset.
Assets and liabilities not measured at fair value on a recurring basis as of September 30, 2014
(Expressed in thousands)
									Fair Value Measurement: Assets
	As of September 30, 2014								As of September 30, 2014
	Carrying Value				Fair Value				Level 1			Level 2			Level 3			Total
Cash	$	44,578			$	44,578			$	44,578		$	—		$	—		$	44,578
Cash segregated for regulatory and other purposes	19,106				19,106				19,106			—			—			19,106
Deposits with clearing organization	15,016				15,016				15,016			—			—			15,016
Receivable from brokers, dealers and clearing organizations
Securities borrowed	267,643				267,643				—			267,643			—			267,643
Receivables from brokers	52,616				52,616				—			52,616			—			52,616
Securities failed to deliver	24,476				24,476				—			24,476			—			24,476
Clearing organizations	21,705				21,705				—			21,705			—			21,705
Other	14,503				14,503				—			14,503			—			14,503
	380,943				380,943				—			380,943			—			380,943
Receivable from customers	883,133				883,133				—			883,133			—			883,133
Mortgage servicing rights (“MSRs”)	29,496				41,768				—			—			41,768			41,768
Escrow deposit (1)	25,014				25,014				25,014			—			—			25,014
-1	Included in other assets on the condensed consolidated balance sheet. Represents escrow monies deposited with a commercial bank. Corresponds with payable to third party in accounts payable and other liabilities on the condensed consolidated balance sheet (see note 3 below).
(Expressed in thousands)
									Fair Value Measurement: Liabilities
	As of September 30, 2014								As of September 30, 2014
	Carrying Value				Fair Value				Level 1			Level 2			Level 3			Total
Drafts payable	$	24,316			$	24,316			$	24,316		$	—		$	—		$	24,316
Bank call loans	135,500				135,500				135,500			—			—			135,500
Payables to brokers, dealers and clearing organizations
Securities loaned	164,095				164,095				—			164,095			—			164,095
Securities failed to receive	32,297				32,297				—			32,297			—			32,297
Clearing organizations and other	8,558				8,558				—			8,558			—			8,558
	204,950				204,950				—			204,950			—			204,950
Payables to customers	689,363				689,363				—			689,363			—			689,363
Securities sold under agreements to repurchase	688,310				688,310				—			688,310			—			688,310
Accounts payable and other liabilities
Warehouse payable (2)	17,540				17,540				—			17,540			—			17,540
Payable to third party (3)	25,014				25,014				25,014			—			—			25,014
Senior secured notes	150,000				158,063				—			158,063			—			158,063
-2	Warehouse payable represents loans outstanding under a warehouse facility provided by a commercial bank but prior to GNMA securitization. The borrowing rate on the warehouse facility is based upon a variable interest rate of 1 month LIBOR plus a spread. The carrying amounts approximate fair value because of the short maturity of these instruments. This warehouse facility is used to fund loans held for sale on the condensed consolidated balance sheet.
-3	Corresponds with escrow deposit in other assets on the condensed consolidated balance sheet (see note 1 above).
Assets and liabilities not measured at fair value on a recurring basis as of December 31, 2013
(Expressed in thousands)
									Fair Value Measurement: Assets
	As of December 31, 2013								As of December 31, 2013
	Carrying Value				Fair Value				Level 1			Level 2			Level 3			Total
Cash	$	38,026			$	38,026			$	38,026		$	—		$	—		$	38,026
Cash segregated for regulatory and other purposes	24,828				24,828				24,828			—			—			24,828
Deposits with clearing organization	13,187				13,187				13,187			—			—			13,187
Receivable from brokers, dealers and clearing organizations
Deposits paid for securities borrowed	274,127				274,127				—			274,127			—			274,127
Receivables from brokers	49,803				49,803				—			49,803			—			49,803
Securities failed to deliver	9,628				9,628				—			9,628			—			9,628
Clearing organizations	27				27				—			27			—			27
Omnibus accounts	18,086				18,086				—			18,086			—			18,086
Other	13,202				13,202				—			13,202			—			13,202
	364,873				364,873				—			364,873			—			364,873
Receivable from customers	868,869				868,869				—			868,869			—			868,869
Securities purchased under agreements to resell	825				825				825			—			—			825
Mortgage servicing rights (“MSRs”)	28,879				40,084				—			—			40,084			40,084
Escrow deposit (1)	25,006				25,006				25,006			—			—			25,006
-1	Included in other assets on the condensed consolidated balance sheet. Represents escrow monies deposited with a commercial bank. Corresponds with payable to third party in accounts payable and other liabilities on the condensed consolidated balance sheet (see note 3 below).
(Expressed in thousands)
									Fair Value Measurement: Liabilities
	As of December 31, 2013								As of December 31, 2013
	Carrying Value				Fair Value				Level 1			Level 2			Level 3			Total
Drafts payable	$	48,198			$	48,198			$	48,198		$	—		$	—		$	48,198
Bank call loans	118,200				118,200				118,200			—			—			118,200
Payables to brokers, dealers and clearing organizations
Deposits received for securities loaned	211,621				211,621				—			211,621			—			211,621
Securities failed to receive	5,346				5,346				—			5,346			—			5,346
Clearing organizations and other	6,348				6,348				—			6,348			—			6,348
	223,315				223,315				—			223,315			—			223,315
Payables to customers	626,564				626,564				—			626,564			—			626,564
Securities sold under agreements to repurchase	757,491				757,491				—			757,491			—			757,491
Accounts payable and other liabilities
Warehouse payable (2)	54,614				54,614				—			54,614			—			54,614
Payable to third party (3)	25,006				25,006				25,006			—			—			25,006
Senior secured notes	195,000				208,529				—			208,529			—			208,529
-2	Warehouse payable represents loans outstanding under a warehouse facility provided by a commercial bank but prior to GNMA securitization. The borrowing rate on the warehouse facility is based upon a variable interest rate of 1 month LIBOR plus a spread. The carrying amounts approximate fair value because of the short maturity of these instruments. This warehouse facility is used to fund loans held for sale on the condensed consolidated balance sheet.
-3	Corresponds with escrow deposit in other assets on the consolidated balance sheet (see note 1 above).
Fair Value Option
The Company has the option to measure certain financial assets and financial liabilities at fair value with changes in fair value recognized in earnings each period. The Company may make a fair value option election on an instrument-by-instrument basis at initial recognition of an asset or liability or upon an event that gives rise to a new basis of accounting for that instrument. The Company has elected to apply the fair value option to its loan trading portfolio which resides in OPY Credit Corp. and is included in other assets on the condensed consolidated balance sheet. Management has elected this treatment as it is consistent with the manner in which the business is managed as well as the way that financial instruments in other parts of the business are recorded. There were no loan positions held in the secondary loan trading portfolio at September 30, 2014 or December 31, 2013.
The Company elected the fair value option for repurchase agreements and reverse repurchase agreements that do not settle overnight or have an open settlement date. The Company has elected the fair value option for these instruments to more accurately reflect market and economic events in its earnings and to mitigate a potential imbalance in earnings caused by using different measurement attributes (i.e. fair value versus carrying value) for certain assets and liabilities. At September 30, 2014, the fair value of the reverse repurchase agreements and repurchase agreements were $250.0 million and $nil, respectively.
On October 1, 2013, the Company also elected the fair value option for loans held for sale which reside in OMHHF and are reported on the condensed consolidated balance sheet. Loans held for sale represent originated loans that are generally transferred or sold within 60 days from the date that a mortgage loan is funded. Electing to use fair value allows a better offset of the change in fair value of the loan and the change in fair value of the derivative instruments used as economic hedges. During the period prior to its sale, interest income on a loan held for sale is calculated in accordance with the terms of the individual loan. At September 30, 2014, the Company did not carry any loans held for sale for a period longer than 90 days. At September 30, 2014, the book value and fair value of loans held for sale was $20.0 million and $20.1 million, respectively.
Derivative Instruments and Hedging Activities
The Company transacts, on a limited basis, in exchange traded and over-the-counter derivatives for both asset and liability management as well as for trading and investment purposes. Risks managed using derivative instruments include interest rate risk and, to a lesser extent, foreign exchange risk. All derivative instruments are measured at fair value and are recognized as either assets or liabilities on the condensed consolidated balance sheet.
Cash flow hedges used for asset and liability management
For derivative instruments that were designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative was reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains or losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. At September 30, 2014, there were no derivative instruments that were designated and qualified as a cash flow hedge.
Foreign exchange hedges
From time to time, the Company also utilizes forward and options contracts to hedge the foreign currency risk associated with compensation obligations to Oppenheimer Israel (OPCO) Ltd. employees denominated in New Israeli Shekels. Such hedges have not been designated as accounting hedges.
Derivatives used for trading and investment purposes
Futures contracts represent commitments to purchase or sell securities or other commodities at a future date and at a specified price. Market risk exists with respect to these instruments. Notional or contractual amounts are used to express the volume of these transactions and do not represent the amounts potentially subject to market risk. The futures contracts the Company uses including U.S. Treasury notes, Federal funds, General collateral futures and Eurodollar contracts are used primarily as an economic hedge of interest rate risk associated with government trading activities.
Derivatives used for commercial mortgage banking
In the normal course of business, OMHHF enters into contractual commitments to originate (purchase) and sell multifamily mortgage loans at fixed prices with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate within time frames established by OMHHF. All mortgagors are evaluated for credit worthiness prior to the extension of the commitment. Market risk arises if interest rates move adversely between the time of the “lock-in” of rates by the borrower and the sale date of the loan to an investor. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, OMHHF’s policy is to enter into a TBA sale contract with the investor simultaneously with the rate lock commitment with the borrower. The TBA sale contract with the investor locks in an interest rate and price for the sale of the loan. The terms of the contract with the investor and the rate lock with the borrower are matched in substantially all respects, with the objective of eliminating interest rate risk to the extent practical. TBA sale contracts with the investors have an expiration date that is longer than our related commitments to the borrower to allow, among other things, for the closing of the loan and processing of paperwork to deliver the loan into the sale commitment.
Both the rate lock commitments to borrowers and the TBA sale contracts to buyers are undesignated derivatives and, accordingly, are marked to fair value through earnings. The fair value of the Company’s rate lock commitments to borrowers and loans held for sale and the related input includes, as applicable:
•	the assumed gain/loss of the expected resultant loan sale to the buyer;
•	the expected net future cash flows associated with servicing the loan;
•	the effects of interest rate movements between the date of the rate lock and the balance sheet date; and
•	the nonperformance risk of both the counterparty and the Company.
The fair value of the Company’s TBA sale contracts to investors considers effects of interest rate movements between the trade date and the balance sheet date. The market price changes are multiplied by the notional amount of the TBA sale contracts to measure the fair value.
The assumed gain/loss considers the amount that the Company has discounted the price to the borrower from par for competitive reasons, if at all, and the expected net cash flows from servicing to be received upon securitization of the loan. The fair value of the expected net future cash flows associated with servicing the loan is calculated pursuant to the valuation techniques described previously for MSRs.
To calculate the effects of interest rate movements, the Company uses applicable published U.S. Treasury prices, and multiplies the price movement between the rate lock date and the balance sheet date by the notional loan commitment amount.
The fair value of the Company’s TBA sale contracts to investors considers the market price movement of the same type of security between the trade date and the balance sheet date. The market price changes are multiplied by the notional amount of the TBA sale contracts to measure the fair value.
The fair value of the Company’s interest rate lock commitments and TBA sale contracts is adjusted to reflect the risk that the agreement will not be fulfilled. The Company’s exposure to nonperformance in rate lock and TBA sale contracts is represented by the contractual amount of those instruments. Given the credit quality of our counterparties, the short duration of interest rate lock commitments and TBA sale contracts, and the Company’s historical experience with the agreements, the risk of nonperformance by the Company’s counterparties is not significant.
TBA Securities
The Company also transacts in pass-through mortgage-backed securities eligible to be sold in the TBA market as economic hedges against mortgage-backed securities that it owns or has sold but not yet purchased. TBAs provide for the forward or delayed delivery of the underlying instrument with settlement up to 180 days. The contractual or notional amounts related to these financial instruments reflect the volume of activity and do not reflect the amounts at risk. Unrealized gains and losses on TBAs are recorded in the condensed consolidated balance sheets in receivable from brokers, dealers and clearing organizations and payable to brokers, dealers and clearing organizations, respectively, and in the condensed consolidated statements of income as principal transactions revenue, net.
The notional amounts and fair values of the Company’s derivatives at September 30, 2014 and December 31, 2013 by product were as follows:
(Expressed in thousands)
	Fair Value of Derivative Instruments at September 30, 2014
	Description		Notional				Fair Value
Assets:
Derivatives not designated as hedging instruments (1)
Other contracts	TBAs		$	86,631			$	63
	TBA sale contracts		213,371				1,711
	Interest rate lock commitments		139,947				5,511
			$	439,949			$	7,285
Liabilities:
Derivatives not designated as hedging instruments (1)
Commodity contracts (2)	U.S. Treasury futures		$	72,000			$	87
	Federal funds futures		3,950,000				135
	Eurodollars futures		300,000				60
	General collateral futures		225,000				2
Other contracts	TBAs		81,973				33
	Interest rate lock commitments		51,106				3,188
	Forward start repurchase agreements		181,000				—
	ARS purchase commitments (3)		13,072				1,037
			$	4,874,151			$	4,542
-1	See “Derivative Instruments and Hedging Activities” above for description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset.
-2	Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
-3	Included in accounts payable and other liabilities on the condensed consolidated balance sheet.
(Expressed in thousands)
	Fair Value of Derivative Instruments at December 31, 2013
	Description		Notional				Fair Value
Assets:
Derivatives not designated as hedging instruments (1)
Other contracts	TBAs		$	25,262			$	134
	TBA sale contracts		266,415				2,021
	Interest rate lock commitments		115,569				2,375
			$	407,246			$	4,530
Liabilities:
Derivatives not designated as hedging instruments (1)
Commodity contracts (2)	U.S. Treasury futures		$	60,000			$	186
	Federal funds futures		6,155,000				18
	Eurodollars futures		347,000				44
Other contracts	TBAs		14,547				73
	Interest rate lock commitments		76,604				3,653
	Forward start repurchase agreements		506,000				—
	ARS purchase commitments (3)		29,056				2,600
			$	7,188,207			$	6,574
-1	See “Derivative Instruments and Hedging Activities” above for description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset.
-2	Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
-3	Included in accounts payable and other liabilities on the condensed consolidated balance sheet.
The following table presents the location and fair value amounts of the Company’s derivative instruments and their effect on the condensed consolidated statements of income for the three months ended September 30, 2014 and 2013:
(Expressed in thousands)
	The Effect of Derivative Instruments on the Statement of Income
	For the Three Months Ended September 30, 2014
			Recognized in Income on Derivatives
			(pre-tax)
Types	Description		Location		Gain (Loss)
Commodity contracts	U.S. Treasury futures		Principal transactions revenue		$	20
	Federal funds futures		Principal transactions revenue		(119		)
	Eurodollars futures		Principal transactions revenue		(4		)
	General collateral futures		Principal transactions revenue		(2		)
Other contracts	TBAs		Principal transactions revenue		156
	TBAs sale contracts		Other		3,461
	Interest rate lock commitments		Other		(4,372		)
	ARS purchase commitments		Principal transactions revenue		477
					$	(383	)
(Expressed in thousands)
	The Effect of Derivative Instruments on the Statement of Income
	For the Three Months Ended September 30, 2013
			Recognized in Income on Derivatives
			(pre-tax)
Types	Description		Location		Gain (Loss)
Commodity contracts	U.S. Treasury futures		Principal transactions revenue		$	(356	)
	Federal funds futures		Principal transactions revenue		(235		)
	Eurodollars futures		Principal transactions revenue		(36		)
Other contracts	TBAs		Principal transactions revenue		(243		)
	TBA sale contracts		Other		(6,518		)
	ARS purchase commitments		Principal transactions revenue		(83		)
					$	(7,471	)
The following table presents the location and fair value amounts of the Company’s derivative instruments and their effect on the condensed consolidated statements of income for the nine months ended September 30, 2014 and 2013:
(Expressed in thousands)
	The Effect of Derivative Instruments on the Statement of Income
	For the Nine Months Ended September 30, 2014
			Recognized in Income on Derivatives
			(pre-tax)
Types	Description		Location		Gain (Loss)
Commodity contracts	U.S. Treasury futures		Principal transactions revenue		$	(1,040	)
	Federal funds futures		Principal transactions revenue		(272		)
	Eurodollars futures		Principal transactions revenue		(120		)
	General Collateral Futures		Principal transactions revenue		(2		)
Other contracts	TBAs		Principal transactions revenue		132
	TBAs sale contracts		Other		(310		)
	Interest rate lock commitments		Other		3,601
	ARS purchase commitments		Principal transactions revenue		1,563
					$	3,552
(Expressed in thousands)
	The Effect of Derivative Instruments on the Statement of Income
	For the Nine Months Ended September 30, 2013
			Recognized in Income on Derivatives
			(pre-tax)
Types	Description		Location		Gain (Loss)
Commodity contracts	U.S. Treasury futures		Principal transactions revenue		$	446
	Federal funds futures		Principal transactions revenue		(287		)
	Eurodollars futures		Principal transactions revenue		35
Other contracts	TBAs		Principal transactions revenue		12
	TBA sale contracts		Other		(5,926		)
	ARS purchase commitments		Principal transactions revenue		235
					$	(5,485	)

Collateralized_Transactions

Collateralized Transactions	9 Months Ended
	Sep. 30, 2014
Brokers and Dealers [Abstract]	'
Collateralized Transactions	'
	Collateralized transactions
	The Company enters into collateralized borrowing and lending transactions in order to meet customers’ needs and earn residual interest rate spreads, obtain securities for settlement and finance trading inventory positions. Under these transactions, the Company either receives or provides collateral, including U.S. government and agency, asset-backed, corporate debt, equity, and non-U.S. government and agency securities.
	The Company obtains short-term borrowings primarily through bank call loans. Bank call loans are generally payable on demand and bear interest at various rates but not exceeding the broker call rate. At September 30, 2014, bank call loans were $135.5 million ($118.2 million at December 31, 2013).
	At September 30, 2014, the Company had collateralized loans, collateralized by firm and customer securities with market values of approximately $125.3 million and $148.9 million, respectively, with commercial banks. At September 30, 2014, the Company had approximately $1.3 billion of customer securities under customer margin loans that are available to be pledged, of which the Company has re-pledged approximately $134.2 million under securities loan agreements.
	At September 30, 2014, the Company had deposited $360.6 million of customer securities directly with the Options Clearing Corporation to secure obligations and margin requirements under option contracts written by customers.
	At September 30, 2014, the Company had no outstanding letters of credit.
	The Company enters into reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions to, among other things, acquire securities to cover short positions and settle other securities obligations, to accommodate customers’ needs and to finance the Company’s inventory positions. Except as described below, repurchase and reverse repurchase agreements, principally involving government and agency securities, are carried at amounts at which the securities subsequently will be resold or reacquired as specified in the respective agreements and include accrued interest. Repurchase and reverse repurchase agreements are presented on a net-by-counterparty basis, when the repurchase and reverse repurchase agreements are executed with the same counterparty, have the same explicit settlement date, are executed in accordance with a master netting arrangement, the securities underlying the repurchase and reverse repurchase agreements exist in “book entry” form and certain other requirements are met.
	The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of September 30, 2014 and December 31, 2013:
	As of September 30, 2014
	(Expressed in thousands)
									Gross Amounts Not Offset on
									the Balance Sheet
		Gross		Gross			Net Amounts		Financial			Cash		Net Amount
		Amounts of		Amounts			of Assets		Instruments			Collateral
		Recognized		Offset in the			Presented on					Received
		Assets		Balance Sheet			the Balance
							Sheet
	Reverse repurchase agreements	$	349,680	$	(99,680	)	$	250,000	$	(250,000	)	$	—	$	—
	Securities borrowed (1)	267,643		—			267,643		(258,001		)	—		9,642
	Total	$	617,323	$	(99,680	)	$	517,643	$	(508,001	)	$	—	$	9,642
	-1	Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
									Gross Amounts Not Offset on
									the Balance Sheet
		Gross		Gross			Net Amounts		Financial			Cash		Net Amount
		Amounts of		Amounts			of Liabilities		Instruments			Collateral
		Recognized		Offset in the			Presented on					Pledged
		Liabilities		Balance Sheet			the Balance
							Sheet
	Repurchase agreements	$	787,990	$	(99,680	)	$	688,310	$	(686,659	)	$	—	$	1,651
	Securities loaned (2)	164,095		—			164,095		(157,859		)	—		6,236
	Total	$	952,085	$	(99,680	)	$	852,405	$	(844,518	)	$	—	$	7,887
	-2	Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
	As of December 31, 2013
	(Expressed in thousands)
									Gross Amounts Not Offset on
									the Balance Sheet
		Gross		Gross			Net Amounts		Financial			Cash		Net Amount
		Amounts of		Amounts			of Assets		Instruments			Collateral
		Recognized		Offset in the			Presented on					Received
		Assets		Balance Sheet			the Balance
							Sheet
	Reverse repurchase agreements	$	389,439	$	(204,614	)	$	184,825	$	(183,305	)	$	—	$	1,520
	Securities borrowed (1)	274,127		—			274,127		(265,936		)	—		8,191
	Total	$	663,566	$	(204,614	)	$	458,952	$	(449,241	)	$	—	$	9,711
	-1	Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
									Gross Amounts Not Offset on
									the Balance Sheet
		Gross		Gross			Net Amounts		Financial			Cash		Net Amount
		Amounts of		Amounts			of Liabilities		Instruments			Collateral
		Recognized		Offset in the			Presented on					Pledged
		Liabilities		Balance Sheet			the Balance
							Sheet
	Repurchase agreements	$	962,105	$	(204,614	)	$	757,491	$	(753,003	)	$	—	$	4,488
	Securities loaned (2)	211,621		—			211,621		(204,971		)	—		6,650
	Total	$	1,173,726	$	(204,614	)	$	969,112	$	(957,974	)	$	—	$	11,138
	-2	Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
	Certain of the Company’s repurchase agreements and reverse repurchase agreements are carried at fair value as a result of the Company’s fair value option election. The Company elected the fair value option for those repurchase agreements and reverse repurchase agreements that do not settle overnight or have an open settlement date. The Company has elected the fair value option for these instruments to more accurately reflect market and economic events in its earnings and to mitigate a potential imbalance in earnings caused by using different measurement attributes (i.e. fair value versus carrying value) for certain assets and liabilities. At September 30, 2014, the fair value of the reverse repurchase agreements and repurchase agreements was $250 million and $nil, respectively.
	The Company receives collateral in connection with securities borrowed and reverse repurchase agreement transactions and customer margin loans. Under many agreements, the Company is permitted to sell or re-pledge the securities received (e.g., use the securities to enter into securities lending transactions, or deliver to counterparties to cover short positions). At September 30, 2014, the fair value of securities received as collateral under securities borrowed transactions and reverse repurchase agreements was $259.2 million ($265.3 million at December 31, 2013) and $349.5 million ($385.5 million at December 31, 2013), respectively, of which the Company has sold and re-pledged approximately $21.9 million ($11.0 million at December 31, 2013) under securities loaned transactions and $349.5 million under repurchase agreements ($385.5 million at December 31, 2013).
	The Company pledges certain of its securities owned for securities lending and repurchase agreements and to collateralize bank call loan transactions. The carrying value of pledged securities owned that can be sold or re-pledged by the counterparty was $498.9 million, as presented on the face of the condensed consolidated balance sheet at September 30, 2014 ($586.6 million at December 31, 2013). The carrying value of securities owned by the Company that have been loaned or pledged to counterparties where those counterparties do not have the right to sell or re-pledge the collateral was $127.9 million at September 30, 2014 ($126.8 million at December 31, 2013).
	The Company manages credit exposure arising from repurchase and reverse repurchase agreements by, in appropriate circumstances, entering into master netting agreements and collateral arrangements with counterparties that provide the Company, in the event of a customer default, the right to liquidate and the right to offset a counterparty’s rights and obligations. The Company also monitors the market value of collateral held and the market value of securities receivable from others. It is the Company’s policy to request and obtain additional collateral when exposure to loss exists. In the event the counterparty is unable to meet its contractual obligation to return the securities, the Company may be exposed to off-balance sheet risk of acquiring securities at prevailing market prices.
	As of December 31, 2011, the interest in securities formerly held by one of the Company’s funds which utilized Lehman Brothers International (Europe) as a prime broker was transferred to an investment trust. On September 26, 2013, the first interim distribution in the amount of $9.5 million was received by the trust and distributed to its members. During the first quarter of 2014, a subsequent distribution in the amount of $600,000 was received by the trust and distributed to its members. The 2014 payment substantially completes the Company’s claim on the Lehman Brothers Estate.
	Credit Concentrations
	Credit concentrations may arise from trading, investing, underwriting and financing activities and may be impacted by changes in economic, industry or political factors. In the normal course of business, the Company may be exposed to risk in the event customers, counterparties including other brokers and dealers, issuers, banks, depositories or clearing organizations are unable to fulfill their contractual obligations. The Company seeks to mitigate these risks by actively monitoring exposures and obtaining collateral as deemed appropriate. Included in receivable from brokers, dealers and clearing organizations as of September 30, 2014 are receivables from three major U.S. broker-dealers totaling approximately $135.7 million.
Warehouse Facilities
Through OPY Credit Corp., the Company utilized a warehouse facility provided by Canadian Imperial Bank of Commerce (“CIBC”) to extend financing commitments to third party borrowers identified by the Company. This warehouse arrangement terminated on July 15, 2012. However, the Company will remain contingently liable for some minimal expenses in relation to this facility related to commitments made by CIBC to borrowers introduced by the Company until such borrowings are repaid by the borrowers or until 2016, whichever is the sooner to occur. All such owed amounts will continue to be reflected in the Company’s condensed consolidated statements of income as incurred.
The Company reached an agreement with RBS Citizens, NA (“Citizens”) that was announced in July 2012, whereby the Company, through OPY Credit Corp., will introduce lending opportunities to Citizens, which Citizens can elect to accept and in which the Company will participate in the fees earned from any related commitment by Citizens. The Company can also in certain circumstances assume a portion of Citizen’s syndication and lending risk under such loans, and if it does so it shall be obligated to secure such obligations via a cash deposit determined through risk-based formulas. Neither the Company nor Citizens is obligated to make any specific loan or to commit any minimum amount of lending capacity to the relationship. The agreement also calls for Citizens and the Company at their option to jointly participate in the arrangement of various loan syndications. At September 30, 2014, there were no loans in place.
The Company is obligated to settle transactions with brokers and other financial institutions even if its clients fail to meet their obligations to the Company. Clients are required to complete their transactions on the settlement date, generally one to three business days after the trade date. If clients do not fulfill their contractual obligations, the Company may incur losses. The Company has clearing/participating arrangements with the National Securities Clearing Corporation (“NSCC”), the Fixed Income Clearing Corporation (“FICC”), R.J. O’Brien & Associates (commodities transactions) and others. With respect to its business in reverse repurchase and repurchase agreements, substantially all open contracts at September 30, 2014 are with the FICC. In addition, the Company began clearing its non-U.S. international equities business carried on by Oppenheimer Europe Ltd. and Oppenheimer Investments Asia Limited through BNP Paribas Securities Services and its non-U.S. international equities business carried on by Oppenheimer through BNP Securities Corp. The clearing corporations have the right to charge the Company for losses that result from a client’s failure to fulfill its contractual obligations. Accordingly, the Company has credit exposures with these clearing brokers. The clearing brokers can re-hypothecate the securities held on behalf of the Company. As the right to charge the Company has no maximum amount and applies to all trades executed through the clearing brokers, the Company believes there is no maximum amount assignable to this right. At September 30, 2014, the Company had recorded no liabilities with regard to this right. The Company’s policy is to monitor the credit standing of the clearing brokers and banks with which it conducts business.
OMHHF, which is engaged in commercial mortgage origination and servicing, has obtained an uncommitted warehouse facility line through PNC Bank (“PNC”) under which OMHHF pledges FHA-guaranteed mortgages for a period averaging 15 business days and PNC table funds the principal payment to the mortgagee. OMHHF repays PNC upon the securitization of the mortgage by the GNMA and the delivery of the security to the counter-party for payment pursuant to a contemporaneous sale on the date the mortgage is securitized. At September 30, 2014, OMHHF had $17.5 million outstanding under the warehouse facility line at a variable interest rate of 1 month LIBOR plus a spread. Interest expense for the three and nine months ended September 30, 2014 was $181,000 and $400,000, respectively ($183,000 and $616,000, respectively, for the three and nine months ended September 30, 2013). The Company’s ability to originate mortgage loans depends upon its ability to secure and maintain these types of short-term financings on acceptable terms.
As discussed in Note 5, Financial instruments, the Company enters into TBA sale contracts to offset exposures related to commitments to provide funding for FHA loans at OMHHF. In the normal course of business, the Company may be exposed to the risk that counterparties to these TBA sale contracts are unable to fulfill their contractual obligations.

Variable_Interest_Entities_VIE

Variable Interest Entities ("VIEs")	9 Months Ended
	Sep. 30, 2014
Noncontrolling Interest [Abstract]	'
Variable Interest Entities (VIE's)	'
	Variable interest entities ("VIEs")
	The Company’s policy is to consolidate all subsidiaries in which it has a controlling financial interest, as well as any VIEs where the Company is deemed to be the primary beneficiary, when it has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb significant losses or the right to receive benefits that could potentially be significant to the VIE. The Company reviews factors, including the rights of the equity holders and obligations of equity holders to absorb losses or receive expected residual returns, to determine if the investee is a VIE. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly or indirectly by the Company. The consolidation analysis is generally performed qualitatively. This analysis, which requires judgment, is performed at each reporting date. ASU No. 2010-10, “Amendments for Certain Investment Funds,” defers the application of the revised consolidation rules for a reporting entity’s interest in an entity if certain conditions are met. An entity that qualifies for the deferral will continue to be assessed for consolidation under the overall guidance on VIEs, before its amendment, and other applicable consolidation guidance. Generally, the Company would consolidate those entities when it absorbs a majority of the expected losses or a majority of the expected residual returns, or both, of the entities.
	For entities that the Company has concluded are not VIEs, the Company then evaluates whether the fund is a partnership or similar entity. If the fund is a partnership or similar entity, the Company evaluates the fund under the partnership consolidation guidance. Pursuant to that guidance, the Company consolidates funds in which it is the general partner, unless presumption of control by the Company can be overcome. This presumption is overcome only when unrelated investors in the fund have the substantive ability to liquidate the fund or otherwise remove the Company as the general partner without cause, based on a simple majority vote of unaffiliated investors, or have other substantive participating rights. If the presumption of control can be overcome, the Company accounts for its interest in the fund pursuant to the equity method of accounting.
	A subsidiary of the Company serves as general partner of hedge funds and private equity funds that were established for the purpose of providing investment alternatives to both its institutional and qualified retail clients. The Company holds variable interests in these funds as a result of its right to receive management and incentive fees. The Company’s investment in and additional capital commitments to these hedge funds and private equity funds are also considered variable interests. The Company’s additional capital commitments are subject to call at a later date and are limited in amount.
	The Company assesses whether it is the primary beneficiary of the hedge funds and private equity funds in which it holds a variable interest in the form of the total general and limited partner interests held in these funds by all parties. In each instance, the Company has determined that it is not the primary beneficiary and therefore need not consolidate the hedge funds or private equity funds. The subsidiaries’ general partnership interests, additional capital commitments, and management fees receivable represent its maximum exposure to loss. The subsidiaries’ general partnership interests and management fees receivable are included in other assets on the condensed consolidated balance sheet.
	The following tables set forth the total VIE assets, the carrying value of the subsidiaries’ variable interests, and the Company’s maximum exposure to loss in Company-sponsored non-consolidated VIEs in which the Company holds variable interests and other non-consolidated VIEs in which the Company holds variable interests at September 30, 2014 and December 31, 2013:
	(Expressed in thousands)
		September 30, 2014
										Maximum
										Exposure
				Carrying Value of the						to Loss in
		Total		Company’s Variable Interest				Capital		Non-consolidated
		VIE Assets (1)		Assets (2)		Liabilities		Commitments		VIEs
	Hedge funds	$	1,870,079	$	3,788	$	—	$	—	$	3,788
	Private equity funds	76,900		31		—		2		33
	Total	$	1,946,979	$	3,819	$	—	$	2	$	3,821
	-1	Represents the total assets of the VIEs and does not represent the Company’s interests in the VIEs.
	-2	Represents the Company’s interests in the VIEs and is included in other assets on the condensed consolidated balance sheet.
	(Expressed in thousands)
		31-Dec-13
										Maximum
										Exposure
				Carrying Value of the						to Loss in
		Total		Company’s Variable Interest				Capital		Non-consolidated
		VIE Assets (1)		Assets (2)		Liabilities		Commitments		VIEs
	Hedge funds	$	2,282,144	$	738	$	—	$	—	$	738
	Private equity funds	64,475		29		—		5		34
	Total	$	2,346,619	$	767	$	—	$	5	$	772
	-1	Represents the total assets of the VIEs and does not represent the Company’s interests in the VIEs.
	-2	Represents the Company’s interests in the VIEs and is included in other assets on the condensed consolidated balance sheet.

Commercial_Mortgage_Banking

Commercial Mortgage Banking	9 Months Ended
	Sep. 30, 2014
Transfers and Servicing [Abstract]	'
Commercial Mortgage Banking	'
	Commercial mortgage banking
	OMHHF is engaged in the business of originating and servicing FHA insured multifamily and healthcare facility loans and securitizing these loans into GNMA mortgage backed securities. OMHHF also offers mortgage services to developers of commercial properties including apartments, elderly housing and nursing homes that satisfy FHA criteria. OMHHF maintains a mortgage servicing portfolio for which it provides a full array of services, including the collection of mortgage payments from mortgagors which are passed on to the mortgage holders, construction loan management and asset management.
	The Company owns an 83.68% controlling interest in OMHHF. The 16.32% non-controlling interest belongs to one related third party who is the President and Chief Executive Officer of OMHHF.
	Loan Origination Fees
	OMHHF receives origination fees and incurs other direct origination costs when it originates mortgage loans. The origination fees and other direct origination costs are recognized when OMHHF enters into a commitment to sell loans to third parties.
	In accordance with HUD guidelines, OMHHF will, with HUD's approval and for certain loan programs, apply the premium income towards the payment of prepayment costs that customers will incur on their prior mortgage. These costs are netted with revenues from premium income that are otherwise earned from these loan refinancings or modifications. Prepayment costs recorded as contra-revenue against premium income were $2.6 million and $4.5 million for the three and nine months ended September 30, 2014, respectively ($2.8 million and $13.5 million for the three and nine months ended September 30, 2013, respectively).
	Funding Commitments
	OMHHF provides its clients with commitments to fund FHA-insured permanent or constructions loans. Upon providing these commitments to fund, OMHHF enters into TBA sale contracts directly or indirectly with counterparties to offset its exposures related to these funding commitments. See Note 5, Financial instruments, for more information.
	Loans Held For Sale
	OMHHF advances funds from its own cash reserves in addition to obtaining financing through warehouse facilities in order to fund initial loan closing and subsequent construction loan draws. Prior to the GNMA securitization of a loan, a loan held for sale is recorded on the condensed consolidated balance sheet. To the extent funds were advanced from its own cash reserves, the cash balance is reduced in an equal amount. To the extent funds were financed through the warehouse facility, a liability for the warehouse facility payable is recorded in other liabilities on the condensed consolidated balance sheet. Loans held for sale are recorded at fair value through earnings.
	Escrows Held in Trust
	Custodial escrow accounts relating to loans serviced by OMHHF totaled $286.5 million at September 30, 2014 ($251.4 million at December 31, 2013). These amounts are not included on the condensed consolidated balance sheets as such amounts are not OMHHF’s assets. Certain cash deposits at financial institutions exceeded the FDIC insured limits. The combined uninsured balance with relation to escrow accounts at September 30, 2014 was approximately $167.7 million. OMHHF places these deposits with major financial institutions where they believe the risk is minimal and that meet or exceed GNMA required credit ratings.
	The total unpaid principal balance of loans the Company was servicing for various institutional investors was as follows:
	(Expressed in thousands)
		As of September 30, 2014			As of December 31, 2013
	Unpaid principal balance of loans	$	4,044,961		$	3,885,437
	Mortgage Servicing Rights (“MSRs”)
	OMHHF purchases commitments or originates mortgage loans that are sold and securitized into GNMA mortgage backed securities. OMHHF retains the servicing responsibilities for the loans securitized and recognizes either a MSR asset or a MSR liability for that servicing contract. OMHHF receives monthly servicing fees equal to a percentage of the outstanding principal balance of the loans being serviced.
	OMHHF estimates the initial fair value of the servicing rights based on the present value of future net servicing income, adjusted for factors such as discount rate and prepayment. See Note 5, Financial instruments, for more information. OMHHF uses the amortization method for subsequent measurement, subject to annual impairment. The Company reviews the capitalized MSRs for impairment quarterly by comparing the aggregate carrying value of the MSR portfolio to the aggregate estimated fair value of the portfolio.
	The fair value of our MSRs is subject to market risk. Changes in interest rates influence a variety of assumptions included in the valuation of MSRs, including prepayment speeds, expected returns, the value of escrow balances and other servicing valuation elements. A decline in interest rates generally increases the payment rate of the servicing portfolio and therefore reduces the estimated fair value of MSRs.
	The fair value of the servicing rights on the loan portfolio was $41.8 million and $40.1 million at September 30, 2014 and December 31, 2013, respectively (carrying value of $29.5 million and $28.9 million at September 30, 2014 and December 31, 2013, respectively). The following table summarizes the changes in carrying value of MSRs for the nine months ended September 30, 2014 and 2013:
	(Expressed in thousands)
		Nine Months Ended September 30,
		2014			2013
	Balance at beginning of period	$	28,879		$	26,983
	Originations (1)	4,252			5,668
	Purchases	144			1,108
	Disposals (1)	(1,754		)	(4,518		)
	Amortization expense	(2,025		)	(1,120		)
	Balance at end of period	$	29,496		$	28,121
	-1	Includes refinancings.
	Servicing rights are amortized using the straight-line method over 10 years. Future amortization expense is expected to be as follows:
	(Expressed in thousands)
		Originated MSRs			Purchased MSRs			Total MSRs
	2014	$	704		$	319		$	1,023
	2015	2,815			1,275			4,090
	2016	2,808			1,275			4,083
	2017	2,802			1,268			4,070
	2018	2,775			1,255			4,030
	Thereafter	9,071			3,129			12,200
		$	20,975		$	8,521		$	29,496
	The Company receives fees during the course of servicing the mortgage loans. The fees for the three and nine months ended September 30, 2014 and 2013 were as follows:
	(Expressed in thousands)
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014		2013
	Servicing fees	$	1,402		$	1,287		$	4,122	$	3,739
	Late fees	6			19			11		94
	Ancillary fees	80			170			248		291
	Total MSR fees	$	1,488		$	1,476		$	4,381	$	4,124

Longterm_Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Long-term Debt	'
	Long-term debt
	(Expressed in thousands)
	Issued	Maturity Date	At September 30, 2014		At December 31, 2013
	Senior Secured Notes	4/15/18	$	150,000	$	195,000
	On April 12, 2011, the Company completed the private placement of $200.0 million in aggregate principal amount of 8.75% Senior Secured Notes due April 15, 2018 (the “Notes”) at par. The interest on the Notes is payable semi-annually on April 15th and October 15th. Proceeds from the private placement were used to retire the Senior Secured Credit Note due 2013 ($22.4 million) and the Subordinated Note due 2014 ($100.0 million) and for other general corporate purposes. The private placement resulted in the fixing of the interest rate over the term of the Notes compared to the variable rate debt that was retired and an extension of the debt maturity dates as described above. The Notes were non-callable until April 2014. The cost to issue the Notes was approximately $4.6 million which was capitalized in the second quarter of 2011 and is amortized over the period of the Notes. At September 30, 2014, the remaining unamortized debt issuance costs were $1.7 million.
	The indenture for the Notes contains covenants which place restrictions on the incurrence of indebtedness, the payment of dividends, sale of assets, mergers and acquisitions and the granting of liens. The Notes provide for events of default including nonpayment, misrepresentation, breach of covenants and bankruptcy. The Company’s obligations under the Notes are guaranteed, subject to certain limitations, by the same subsidiaries that guaranteed the obligations under the Senior Secured Credit Note and the Subordinated Note which were retired. These guarantees may be shared, on a senior basis, under certain circumstances, with newly incurred debt outstanding in the future. At September 30, 2014, the Company was in compliance with all of its covenants.
	On July 12, 2011, the Company’s Registration Statement on Form S-4 filed to register the exchange of the Notes for fully registered Notes was declared effective by the SEC. The Exchange Offer was completed in its entirety on August 9, 2011.
	On April 4, 2012, the Company’s Registration Statement on Form S-3 filed to enable the Company to act as a market maker in connection with the Notes was declared effective by the SEC.
	On April 15, 2014, the Company retired early a total of $50.0 million (25%) of the Notes. The Company redeemed $45.0 million aggregate principal amount of the outstanding Notes at a redemption price equal to 106.563% of the principal amount of the Notes, plus accrued and unpaid interest. In addition, the Company retired the $5.0 million aggregate principal amount of the Notes that it held. Upon completion of the redemption and retirement on April 15, 2014, $150.0 million aggregate principal amount of the Notes remains outstanding. The retirement of the Notes will reduce the Company’s interest costs by $3.9 million annually beginning in the second quarter of 2014.
	Interest expense for the three and nine months ended September 30, 2014 on the Notes was $3.3 million and $11.0 million, respectively ($4.3 million and $12.8 million, respectively, for the three and nine months ended September 30, 2013).

Share_Capital

Share Capital	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Share Capital	'
	Share capital
	The Company’s authorized share capital consists of (a) 50,000,000 shares of Preferred Stock, par value $0.001 per share; (b) 50,000,000 shares of Class A non-voting common stock, par value $0.001 per share; and (c) 99,680 shares of Class B voting common stock, par value $0.001 per share. No Preferred Stock has been issued. 99,680 shares of Class B Stock have been issued and are outstanding.
	The Class A Stock and the Class B Stock are equal in all respects except that the Class A Stock is non-voting.
	The following table reflects changes in the number of shares of Class A Stock outstanding for the periods indicated:
		Three Months Ended September 30,			Nine Months Ended September 30,
		2014	2013		2014	2013
	Class A Stock outstanding, beginning of period	13,519,126	13,496,783		13,377,967	13,508,318
	Issued pursuant to shared-based compensation plans	11,562	65,227		152,721	65,227
	Repurchased and canceled pursuant to the stock buy-back	—	(119,251	)	—	(130,786	)
	Class A Stock outstanding, end of period	13,530,688	13,442,759		13,530,688	13,442,759
	Stock buy-back
	On October 7, 2011, the Company announced its intention to purchase up to 675,000 shares of its Class A Stock in compliance with the rules and regulations of the New York Stock Exchange and the SEC and the terms of its outstanding long-term debt. The 675,000 shares represented approximately 5% of its then 13,572,265 issued and outstanding shares of Class A Stock. Any such purchases will be made by the Company in the open market at the prevailing open market price using cash on hand. All shares purchased will be cancelled. The repurchase program is expected to continue indefinitely. The repurchase program does not obligate the Company to repurchase any dollar amount or number of shares of Class A Stock. Depending on market conditions and other factors, these repurchases may be commenced or suspended from time to time without prior notice.
	In the nine months ended September 30, 2014, the Company did not buy back any stock under this program. As of September 30, 2014, 352,823 shares were available to be purchased under this program.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Contingencies	'
	Contingencies
	Many aspects of the Company’s business involve substantial risks of liability. In the normal course of business, the Company has been named as defendant or co-defendant in various legal actions, including arbitrations, class actions, and other litigation, creating substantial exposure. Certain of the actual or threatened legal matters include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. These proceedings arise primarily from securities brokerage, asset management and investment banking activities. The Company is also involved, from time to time, in other reviews, investigations and proceedings (both formal and informal) by governmental and self-regulatory agencies regarding the Company’s business which may result in adverse judgments, settlements, fines, penalties, injunctions or other relief. The investigations include, among other things, inquiries from the SEC, the Financial Industry Regulatory Authority (“FINRA”) and various state regulators. The Company is named as a respondent in a number of arbitrations by its current or former clients as well as lawsuits related to its sale of ARS.
	The Company accrues for estimated loss contingencies related to legal and regulatory matters when available information indicates that it is probable a liability had been incurred at the date of the condensed consolidated financial statements and the Company can reasonably estimate the amount of that loss. In many proceedings, however, it is inherently difficult to determine whether any loss is probable or even possible or to estimate the amount of any loss. In addition, even where loss is possible or an exposure to loss exists in excess of the liability already accrued with respect to a previously recognized loss contingency, it is often not possible to reasonably estimate the size of the possible loss or range of loss or possible additional losses or range of additional losses.
	For certain legal and regulatory proceedings, the Company cannot reasonably estimate such losses, particularly for proceedings that are in their early stages of development or where plaintiffs seek substantial, indeterminate or special damages. Numerous issues may need to be reviewed, analyzed or resolved, including through potentially lengthy discovery and determination of important factual matters, and by addressing novel or unsettled legal questions relevant to the proceedings in question, before a loss or range of loss or additional loss can be reasonably estimated for any proceeding. Even after lengthy review and analysis, the Company, in many legal and regulatory proceedings, may not be able to reasonably estimate possible losses or range of loss.
	For certain other legal and regulatory proceedings, the Company can estimate possible losses, or, range of loss in excess of amounts accrued, but does not believe, based on current knowledge and after consultation with counsel, that such losses individually, or in the aggregate, will have a material adverse effect on the Company’s condensed consolidated financial statements as a whole.
	For legal and regulatory proceedings where there is at least a reasonable possibility that a loss or an additional loss may be incurred, the Company estimates a range of aggregate loss in excess of amounts accrued of $0 to approximately $33 million. This estimated aggregate range is based upon currently available information for those legal proceedings in which the Company is involved, where an estimate for such losses can be made. For certain cases, the Company does not believe that an estimate can currently be made. The foregoing estimate is based on various factors, including the varying stages of the proceedings (including the fact that many are currently in preliminary stages), the numerous yet-unresolved issues in many of the proceedings and the attendant uncertainty of the various potential outcomes of such proceedings. Accordingly, the Company’s estimate will change from time to time, and actual losses may be more than the current estimate.
	In February 2010, Oppenheimer finalized settlements with the Regulators concluding investigations and administrative proceedings by the Regulators concerning Oppenheimer’s marketing and sale of ARS. Pursuant to the settlements with the Regulators, Oppenheimer agreed to extend offers to repurchase ARS from certain of its clients subject to certain terms and conditions more fully described below. In addition to the settlements with the Regulators, Oppenheimer has also reached settlements of and received adverse awards in legal proceedings with various clients where the Company is obligated to purchase ARS. Pursuant to completed Purchase Offers (as defined) under the settlements with the Regulators and client related legal settlements and awards to purchase ARS, as of September 30, 2014, the Company purchased and holds (net of redemptions) approximately $94.8 million in ARS from its clients. In addition, the Company is committed to purchase another $13.1 million in ARS from clients through 2016 under legal settlements and awards.
	The Company’s purchases of ARS from its clients holding ARS eligible for repurchase will, subject to the terms and conditions of the settlements with the Regulators, continue on a periodic basis. Pursuant to these terms and conditions, the Company is required to conduct a financial review every six months, until the Company has extended Purchase Offers to all Eligible Investors (as defined), to determine whether it has funds available, after giving effect to the financial and regulatory capital constraints applicable to the Company, to extend additional Purchase Offers. The financial review is based on the Company’s operating results, regulatory net capital, liquidity, and other ARS purchase commitments outstanding under legal settlements and awards (described below). There are no predetermined quantitative thresholds or formulas used for determining the final agreed upon amount for the Purchase Offers. Upon completion of the financial review, the Company first meets with its primary regulator, FINRA, and then with representatives of the NYAG and other regulators to present the results of the review and to finalize the amount of the next Purchase Offer. Various offer scenarios are discussed in terms of which Eligible Investors should receive a Purchase Offer. The primary criteria to date in terms of determining which Eligible Investors should receive a Purchase Offer has been the amount of household account equity each Eligible Investor had with the Company in February 2008. Once various Purchase Offer scenarios have been discussed, the regulators, not the Company, make the final determination of which Purchase Offer scenario to implement. The terms of settlements provide that the amount of ARS to be purchased during any period shall not risk placing the Company in violation of regulatory requirements.
	As of September 30, 2014, the Company did not have any outstanding ARS purchase commitments related to the settlements with the Regulators. Eligible Investors for future buybacks continued to hold approximately $106.1 million of principal value of ARS as of September 30, 2014. It is reasonably possible that some ARS Purchase Offers will need to be extended to Eligible Investors holding ARS prior to redemptions (or tender offers) by issuers of the full amount that remains outstanding. The potential additional losses that may result from entering into ARS purchase commitments with Eligible Investors for future buybacks represents the estimated difference between the principal value and the fair value. It is possible that the Company could sustain a loss of all or substantially all of the principal value of ARS still held by Eligible Investors but such an outcome is highly unlikely. The amount of potential additional losses resulting from entering into these commitments cannot be reasonably estimated due to the uncertainties surrounding the amounts and timing of future buybacks that result from the six-month financial review and the amounts, scope, and timing of future issuer redemptions and tender offers of ARS held by Eligible Investors. The range of potential additional losses related to valuation adjustments is between $0 and the amount of the estimated differential between the principal value and the fair value of ARS held by Eligible Investors for future buybacks that were not yet purchased or committed to be purchased by the Company at any point in time. The range of potential additional losses described here is not included in the estimated range of aggregate loss in excess of amounts accrued for legal and regulatory proceedings described above.
	Outside of the settlements with the Regulators, the Company has also reached various legal settlements with clients and received unfavorable legal awards requiring it to purchase ARS. The terms and conditions including the ARS amounts committed to be purchased under legal settlements and awards are based on the specific facts and circumstances of each legal proceeding. In most instances, the purchase commitments are in increments and extend over a period of time. At September 30, 2014, no ARS purchase commitments related to legal settlements extended past 2016. To the extent the Company receives an unfavorable award, the Company usually must purchase the ARS provided for by the award within 30 days of the rendering of the award.
	The Company is also named as a respondent in a number of arbitrations by its current or former clients as well as lawsuits related to its sale of ARS. If the ARS market remains frozen, the Company may likely be further subject to claims by its clients. There can be no guarantee that the Company will be successful in defending any or all of the current actions against it or any subsequent actions filed in the future. Any such failure could have a material adverse effect on the results of operations and financial condition of the Company including its cash position.
	The Company has sought, with limited success, financing from a number of sources to try to find a means for all its clients to find liquidity from their ARS holdings and will continue to do so. There can be no assurance that the Company will be successful in finding a liquidity solution for all its clients’ ARS.
	On June 23, 2011, Oppenheimer received notice of an investigation by the SEC pursuant to which the SEC requested information from the Company regarding the sale of a number of low-priced securities effected primarily through several former Oppenheimer financial advisers and purchases and sales of low-priced securities through one Oppenheimer customer account. The issues and facts surrounding this investigation are, in the Company’s view, largely duplicative of a matter that was settled by Oppenheimer with FINRA in August of 2013. On July 16, 2013, Oppenheimer received a “Wells Notice” from the SEC requesting that Oppenheimer make a written submission to the SEC to explain why Oppenheimer should not be charged with violations of the Securities Exchange Act of 1934 (the "Exchange Act") in relation to its sales of low-priced securities on behalf of former customers of the firm. The Company submitted a Wells response on August 19, 2013.
	In October 2010, Oppenheimer received notice of an investigation by the SEC related to the trading of low-priced securities by one former financial advisor in one of Oppenheimer’s branch offices and the supervision related thereto. Both branch and headquarters personnel, including members of senior management, have provided on-the-record testimony in connection with the investigation.
	The Company believes that the SEC may file one or more enforcement actions against Oppenheimer as well as certain members of management in connection with the investigations described in the two immediately preceding paragraphs.
	In February, 2014, Oppenheimer received notice of an investigation by, and a request for information from, a division of the United States Department of the Treasury (“FinCEN”) relating to potential violations of the Bank Secrecy Act and the regulations promulgated thereunder related primarily to, in the Company’s view, the FINRA and SEC matters discussed immediately above. Oppenheimer provided information it believes is responsive to the FinCEN request for information in March of 2014. The Company believes that FinCEN may file an action or issue an assessment against the Company related to their investigation.
	The Company continues to cooperate with and has had discussions about a potential resolution of these matters with the SEC and FinCEN. However, there can be no assurance that these discussions will lead to a resolution of any or all of these matters and, as noted above, the SEC and FinCEN could file one or more enforcement actions against the Company. The filing of one or more enforcement actions could have a material adverse effect on our financial condition and results of operations and could cause significant reputational harm to us which, in turn, could materially adversely impact our business prospects.
	The Company recorded a $19.7 million charge against earnings related to the aforementioned matters during the six-month period ended June 30, 2014. As of September 30, 2014, the Company believes, subject to the paragraph immediately above, it is fully reserved against potential liability arising out of the SEC and FinCEN matters.

Regulatory_Requirements

Regulatory Requirements	9 Months Ended
	Sep. 30, 2014
Regulated Operations [Abstract]	'
Regulatory Requirements	'
	Regulatory requirements
	The Company’s U.S. broker dealer subsidiaries, Oppenheimer and Freedom, are subject to the uniform net capital requirements of the SEC under Rule 15c3-1 (the “Rule”) promulgated under the Exchange Act. Oppenheimer computes its net capital requirements under the alternative method provided for in the Rule which requires that Oppenheimer maintain net capital equal to two percent of aggregate customer-related debit items, as defined in SEC Rule 15c3-3. At September 30, 2014, the net capital of Oppenheimer as calculated under the Rule was $157.9 million or 11.8% of Oppenheimer’s aggregate debit items. This was $131.2 million in excess of the minimum required net capital at that date. Freedom computes its net capital requirement under the basic method provided for in the Rule, which requires that Freedom maintain net capital equal to the greater of $250,000 or 6-2/3% of aggregate indebtedness, as defined. At September 30, 2014, Freedom had net capital of $4.8 million, which was $4.5 million in excess of the $250,000 required to be maintained at that date.
	The Company has computed a reserve requirement for the proprietary accounts of brokers as of September 30, 2014. The Company had no deposit requirements as of September 30, 2014.
	At September 30, 2014, Freedom had $18.3 million in cash segregated under Federal and other regulations.
	New Basel III requirements being implemented in the European Union have changed how capital adequacy is reported under the Capital Requirements Directive (CRD IV), effective January 1, 2014, for Oppenheimer Europe Ltd. At September 30, 2014, the capital required and held under CRD IV was as follows:
	•	Common Equity Tier 1 ratio 8.93% (required 4.5%);
	•	Tier 1 Capital ratio 8.93% (required 6.0%); and
	•	Total Capital ratio 10.38% (required 8.0%).
	At September 30, 2014, the regulatory capital of Oppenheimer Investments Asia Limited was $3.1 million, which was $2.7 million in excess of the $386,000 required to be maintained on that date. Oppenheimer Investments Asia Limited computes its regulatory capital pursuant to the requirements of the Securities and Futures Commission in Hong Kong.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	Related party transactions
	The Company does not make loans to its officers and directors except under normal commercial terms pursuant to client margin account agreements. These loans are fully collateralized by employee-owned securities.

Segment_Information

Segment Information	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Segment Information	'
	Segment information
	The Company has determined its reportable segments based on the Company’s method of internal reporting, which disaggregates its retail business by branch and its proprietary and investment banking businesses by product. The Company evaluates the performance of its reportable segments and allocates resources to them based upon profitability.
	Due to the growth in the Company’s commercial loan origination and servicing business operated out of OMHHF, the Company has presented separately the results of this business in a reportable segment titled “Commercial Mortgage Banking.” This reportable segment engages in business activities in which it earns revenues and incurs expenses that are distinct from the Company’s other reportable segments, its operating results are reviewed by the Company’s Chief Executive Officer who makes decisions about resources to be allocated to this business, and separate financial information is available for the legal entity from which it operates. The Commercial Mortgage Banking reportable segment not only meets these qualitative criteria but, as a result of its recent growth, also meets one of the quantitative thresholds for segment reporting. Previously reported segment information has been revised to reflect this new reportable segment.
	The Company’s reportable segments are:
	Private Client—includes commissions and a proportionate amount of fee income earned on assets under management ("AUM"), net interest earnings on client margin loans and cash balances, fees from money market funds, net contributions from stock loan activities and financing activities, and direct expenses associated with this segment;
	Asset Management—includes a proportionate amount of fee income earned on AUM from investment management services of Oppenheimer Asset Management Inc. Oppenheimer’s asset management divisions employ various programs to professionally manage client assets either in individual accounts or in funds, and includes direct expenses associated with this segment;
	Capital Markets—includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading, as well as the Company’s operations in the United Kingdom, Hong Kong and Israel, and direct expenses associated with this segment; and
	Commercial Mortgage Banking—includes loan origination and servicing fees from the Company’s subsidiary, OMHHF. The Company has added this business segment due to the significant growth and profitability of this line of business over the last several quarters. In prior periods, this business had been part of the Capital Markets business segment.
	The Company does not allocate costs associated with certain infrastructure support groups that are centrally managed for its reportable segments. These areas include, but are not limited to, legal, compliance, operations, accounting, and internal audit. Costs associated with these groups are separately reported in a Corporate/Other category and include, for example, compensation and benefits, rent expense, information technology, legal and professional.
	The table below presents information about the reported revenue and net income before taxes of the Company for the three and nine months ended September 30, 2014 and 2013. Asset information by reportable segment is not reported, since the Company does not produce such information for internal use by the chief operating decision maker.
	(Expressed in thousands)
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Revenue
	Private client *	$	142,606		$	144,316		$	435,770		$	430,963
	Asset management *	24,801			21,488			74,443			64,450
	Capital markets	71,226			68,460			221,324			201,495
	Commercial mortgage banking	6,349			9,314			18,179			26,857
	Corporate/Other	(303		)	(202		)	(180		)	2,587
	Total	$	244,679		$	243,376		$	749,536		$	726,352
	Income (loss) before income taxes
	Private client *	$	18,898		$	15,088		$	36,766		$	48,113
	Asset management *	8,264			6,387			24,300			20,332
	Capital markets	5,699			4,301			23,965			8,806
	Commercial mortgage banking	1,815			2,823			7,269			7,977
	Corporate/Other	(23,780		)	(20,436		)	(76,159		)	(64,678		)
	Total	$	10,896		$	8,163		$	16,141		$	20,550
	*    Asset management fees are allocated 22.5% to the Asset Management and 77.5% to the Private Client segments.
	Revenue, classified by the major geographic areas in which it was earned for the three and nine months ended September 30, 2014 and 2013, was as follows:
	(Expressed in thousands)
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	United States	$	233,846		$	231,777		$	710,198		$	693,251
	Europe/Middle East	9,106			9,210			32,983			26,930
	Asia	1,256			1,309			5,024			2,843
	South America	471			1,080			1,331			3,328
	Total	$	244,679		$	243,376		$	749,536		$	726,352

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent events
	On October 31, 2014, the Company announced a quarterly dividend in the amount of $0.11 per share, payable on November 28, 2014 to holders of Class A Stock and Class B Stock of record on November 14, 2014.

Condensed_Consolidating_Financ

Condensed Consolidating Financial Information	9 Months Ended
	Sep. 30, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]	'
Condensed Consolidating Financial Information	'
	Condensed consolidating financial information
	The Company’s Notes are jointly and severally and fully and unconditionally guaranteed on a senior basis by E.A. Viner International Co. and Viner Finance Inc. (together, the “Guarantors”), unless released as described below. Each of the Guarantors is 100% owned by the Company. The indenture for the Notes contains covenants with restrictions which are discussed in Note 9. The following consolidating financial statements present the financial position, results of operations and cash flows of the Company (referred to as “Parent” for purposes of this note only), the Guarantor subsidiaries, the Non-Guarantor subsidiaries and elimination entries necessary to consolidate the Company. Investments in subsidiaries are accounted for using the equity method for purposes of the consolidated presentation.
	Each Guarantor will be automatically and unconditionally released and discharged upon: the sale, exchange or transfer of the capital stock of a Guarantor and the Guarantor ceasing to be a direct or indirect subsidiary of the Company if such sale does not constitute an asset sale under the indenture for the Notes or does not constitute an asset sale effected in compliance with the asset sale and merger covenants of the debenture for the Notes; a Guarantor being dissolved or liquidated; a Guarantor being designated unrestricted in compliance with the applicable provisions of the Notes; or the exercise by the Company of its legal defeasance option or covenant defeasance option or the discharge of the Company’s obligations under the indenture for the Notes in accordance with the terms of such indenture.
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING BALANCE SHEET
	AS OF SEPTEMBER 30, 2014
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	ASSETS
	Cash and cash equivalents	$	1,162		$	5,123		$	71,657		$	—		$	77,942
	Cash and securities segregated for regulatory and other purposes	—			—			19,106			—			19,106
	Deposits with clearing organizations	—			—			31,611			—			31,611
	Receivable from brokers, dealers and clearing organizations	—			—			380,943			—			380,943
	Receivable from customers, net of allowance for credit losses of $2,451	—			—			883,133			—			883,133
	Income tax receivable	26,600			27,371			(693		)	(45,477		)	7,801
	Securities purchased under agreements to resell	—			—			250,000			—			250,000
	Securities owned, including amounts pledged of $498,928, at fair value	—			5,694			801,078			—			806,772
	Subordinated loan receivable	—			112,558			—			(112,558		)	—
	Notes receivable, net	—			—			37,673			—			37,673
	Office facilities, net	—			20,310			10,208			—			30,518
	Deferred tax assets, net	21			309			26,102			(26,432		)	—
	Intangible assets	—			—			31,700			—			31,700
	Goodwill	—			—			137,889			—			137,889
	Loans held for sale	—			—			20,095			—			20,095
	Mortgage servicing rights	—			—			29,496			—			29,496
	Other assets	1,839			27,077			102,148			—			131,064
	Investment in subsidiaries	561,539			881,012			(179,607		)	(1,262,944		)	—
	Intercompany receivables	93,926			(19,048		)	(12,175		)	(62,703		)	—
	Total assets	$	685,087		$	1,060,406		$	2,640,364		$	(1,510,114	)	$	2,875,743
	LIABILITIES AND STOCKHOLDERS’ EQUITY
	Liabilities
	Drafts payable	$	—		$	—		$	24,316		$	—		$	24,316
	Bank call loans	—			—			135,500			—			135,500
	Payable to brokers, dealers and clearing organizations	—			—			204,950			—			204,950
	Payable to customers	—			—			689,363			—			689,363
	Securities sold under agreements to repurchase	—			—			688,310			—			688,310
	Securities sold, but not yet purchased, at fair value	—			—			128,262			—			128,262
	Accrued compensation	—			—			138,782			—			138,782
	Accounts payable and other liabilities	6,086			58,392			105,697			—			170,175
	Income tax payable	2,440			22,189			20,848			(45,477		)	—
	Senior secured notes	150,000			—			—			—			150,000
	Subordinated indebtedness	—			—			112,558			(112,558		)	—
	Deferred tax liabilities, net	—			12			39,939			(26,432		)	13,519
	Intercompany payables	—			62,703			—			(62,703		)	—
	Total liabilities	158,526			143,296			2,288,525			(247,170		)	2,343,177
	Stockholders’ equity
	Stockholders’ equity attributable to Oppenheimer Holdings Inc.	526,561			917,110			345,834			(1,262,944		)	526,561
	Non-controlling interest	—			—			6,005			—			6,005
	Total stockholders’ equity	526,561			917,110			351,839			(1,262,944		)	532,566
	Total liabilities and stockholders’ equity	$	685,087		$	1,060,406		$	2,640,364		$	(1,510,114	)	$	2,875,743
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING BALANCE SHEET
	AS OF DECEMBER 31, 2013
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	ASSETS
	Cash and cash equivalents	$	448		$	30,901		$	66,945		$	—		$	98,294
	Cash and securities segregated for regulatory and other purposes	—			—			36,323			—			36,323
	Deposits with clearing organizations	—			—			23,679			—			23,679
	Receivable from brokers, dealers and clearing organizations	—			—			364,873			—			364,873
	Receivable from customers, net of allowance for credit losses of $2,423	—			—			868,869			—			868,869
	Income tax receivable	19,494			27,589			(817		)	(39,704		)	6,562
	Securities purchased under agreements to resell	—			—			184,825			—			184,825
Securities owned, including amounts pledged of $586,625, at fair value	—			2,225			853,863			—			856,088
Subordinated loan receivable	—			112,558			—			(112,558		)	—
Notes receivable, net	—			—			40,751			—			40,751
Office facilities, net	—			21,250			11,689			—			32,939
Deferred tax assets, net	678			309			29,496			(30,483		)	—
Intangible assets	—			—			31,700			—			31,700
Goodwill	—			—			137,889			—			137,889
Loans held for sale	—			—			75,989			—			75,989
Mortgage servicing rights	—			—			28,879			—			28,879
Other assets	2,797			27,113			135,150			—			165,060
Investment in subsidiaries	546,755			910,230			(182,625		)	(1,274,360		)	—
Intercompany receivables	153,528			(68,920		)	(20,107		)	(64,501		)	—
Total assets	$	723,700		$	1,063,255		$	2,687,371		$	(1,521,606	)	$	2,952,720
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities
Drafts payable	$	—		$	—		$	48,198		$	—		$	48,198
Bank call loans	—			—			118,200			—			118,200
Payable to brokers, dealers and clearing organizations	—			—			223,315			—			223,315
Payable to customers	—			—			626,564			—			626,564
Securities sold under agreements to repurchase	—			—			757,491			—			757,491
Securities sold, but not yet purchased, at fair value	—			—			76,314			—			76,314
Accrued compensation	—			—			180,119			—			180,119
Accounts payable and other liabilities	3,742			59,289			129,609			(88		)	192,552
Income tax payable	2,440			22,189			15,075			(39,704		)	—
Senior secured notes	195,000			—			—			—			195,000
Subordinated indebtedness	—			—			112,558			(112,558		)	—
Deferred tax liabilities, net	—			—			37,579			(30,483		)	7,096
Intercompany payables	—			64,501			—			(64,501		)	—
Total liabilities	201,182			145,979			2,325,022			(247,334		)	2,424,849
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc.	522,518			917,276			356,996			(1,274,272		)	522,518
Non-controlling interest	—			—			5,353			—			5,353
Total stockholders’ equity	522,518			917,276			362,349			(1,274,272		)	527,871
Total liabilities and stockholders’ equity	$	723,700		$	1,063,255		$	2,687,371		$	(1,521,606	)	$	2,952,720
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014
(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
REVENUES
Commissions	$	—		$	—		$	110,862		$	—		$	110,862
Advisory fees	—			—			71,278			(321		)	70,957
Investment banking	—			—			33,841			—			33,841
Interest	—			2,580			12,434			(2,565		)	12,449
Principal transactions, net	—			(161		)	4,433			—			4,272
Other	—			85			12,279			(66		)	12,298
Total revenue	—			2,504			245,127			(2,952		)	244,679
EXPENSES
Compensation and related expenses	207			—			161,127			—			161,334
Communications and technology	37			—			15,954			—			15,991
Occupancy and equipment costs	—			—			15,867			(66		)	15,801
Clearing and exchange fees	—			—			5,969			—			5,969
Interest	3,281			8			3,403			(2,565		)	4,127
Other	235			17			30,630			(321		)	30,561
Total expenses	3,760			25			232,950			(2,952		)	233,783
Income (loss) before income taxes	(3,760		)	2,479			12,177			—			10,896
Income tax provision (benefit)	(1,816		)	1,326			6,761			—			6,271
Net income (loss) for the period	(1,944		)	1,153			5,416			—			4,625
Less net income attributable to non-controlling interest, net of tax	—			—			155			—			155
Equity in subsidiaries	6,415			—			—			(6,415		)	—
Net income attributable to Oppenheimer Holdings Inc.	4,471			1,153			5,261			(6,415		)	4,470
Other comprehensive income	—			—			(1,608		)	—			(1,608		)
Total comprehensive income	$	4,471		$	1,153		$	3,653		$	(6,415	)	$	2,862
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014
(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
REVENUES
Commissions	$	—		$	—		$	349,062		$	—		$	349,062
Advisory fees	—			—			210,594			(1,002		)	209,592
Investment banking	—			—			94,164			—			94,164
Interest	—			7,901			37,347			(7,861		)	37,387
Principal transactions, net	—			10			24,873			—			24,883
Other	—			375			34,419			(346		)	34,448
Total revenue	—			8,286			750,459			(9,209		)	749,536
EXPENSES
Compensation and related expenses	822			—			492,313			—			493,135
Communications and technology	111			—			50,150			—			50,261
Occupancy and equipment costs	—			—			47,451			(346		)	47,105
Clearing and exchange fees	—			—			17,885			—			17,885
Interest	11,120			8			10,436			(7,861		)	13,703
Other	4,396			30			107,882			(1,002		)	111,306
Total expenses	16,449			38			726,117			(9,209		)	733,395
Income (loss) before income taxes	(16,449		)	8,248			24,342			—			16,141
Income tax provision (benefit)	(6,450		)	2,457			13,342			—			9,349
Net income (loss) for the period	(9,999		)	5,791			11,000			—			6,792
Less net income attributable to non-controlling interest, net of tax	—			—			652			—			652
Equity in subsidiaries	16,139			—			—			(16,139		)	—
Net income attributable to Oppenheimer Holdings Inc.	6,140			5,791			10,348			(16,139		)	6,140
Other comprehensive income	—			—			(1,356		)	—			(1,356		)
Total comprehensive income	$	6,140		$	5,791		$	8,992		$	(16,139	)	$	4,784
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2013
(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
REVENUES
Commissions	$	—		$	—		$	120,252		$	—		$	120,252
Advisory fees	—			—			60,650			(533		)	60,117
Investment banking	—			—			21,362			—			21,362
Principal transactions, net	—			26			10,321			—			10,347
Interest	—			2,777			14,805			(3,143		)	14,439
Other	—			42			16,859			(42		)	16,859
Total revenue	—			2,845			244,249			(3,718		)	243,376
EXPENSES
Compensation and related expenses	207			—			160,874			—			161,081
Occupancy and equipment costs	—			—			16,447			(42		)	16,405
Communications and technology	23			—			16,976			—			16,999
Interest	4,375			—			4,932			(3,143		)	6,164
Clearing and exchange fees	—			—			6,099			—			6,099
Other	285			4			28,709			(533		)	28,465
Total expenses	4,890			4			234,037			(3,718		)	235,213
Income (loss) before income taxes	(4,890		)	2,841			10,212			—			8,163
Income tax provision (benefit)	(1,792		)	1,808			2,639			—			2,655
Net income (loss) for the period	(3,098		)	1,033			7,573			—			5,508
Less net income attributable to non-controlling interest, net of tax	—			—			271			—			271
Equity in subsidiaries	8,335			—			—			(8,335		)	—
Net income attributable to Oppenheimer Holdings Inc.	5,237			1,033			7,302			(8,335		)	5,237
Other comprehensive income	—			—			656			—			656
Total comprehensive income	$	5,237		$	1,033		$	7,958		$	(8,335	)	$	5,893
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013
(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
REVENUES
Commissions	$	—		$	—		$	364,272		$	—		$	364,272
Advisory fees	—			—			179,137			(1,720		)	177,417
Investment banking	—			—			62,377			—			62,377
Principal transactions, net	—			38			33,558			—			33,596
Interest	5			8,370			40,119			(8,578		)	39,916
Other	—			126			48,774			(126		)	48,774
Total revenue	5			8,534			728,237			(10,424		)	726,352
EXPENSES
Compensation and related expenses	902			—			479,394			—			480,296
Occupancy and equipment costs	—			—			51,237			(126		)	51,111
Communications and technology	81			—			48,800			—			48,881
Interest	13,125			—			15,622			(8,578		)	20,169
Clearing and exchange fees	—			—			18,434			—			18,434
Other	1,045			23			87,563			(1,720		)	86,911
Total expenses	15,153			23			701,050			(10,424		)	705,802
Income (loss) before income taxes	(15,148		)	8,511			27,187			—			20,550
Income tax provision (benefit)	(5,723		)	3,702			10,104			—			8,083
Net income (loss) for the period	(9,425		)	4,809			17,083			—			12,467
Less net income attributable to non-controlling interest, net of tax	—			—			719			—			719
Equity in subsidiaries	21,173			—			—			(21,173		)	—
Net income attributable to Oppenheimer Holdings Inc.	11,748			4,809			16,364			(21,173		)	11,748
Other comprehensive income (loss)	(3		)	—			1,159			—			1,156
Total comprehensive income	$	11,745		$	4,809		$	17,523		$	(21,173	)	$	12,904
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014
(Expressed in thousands)	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
Cash flows from operations:
Net income (loss) for the period	$	(9,999	)	$	5,791		$	11,000		$	—		$	6,792
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization of office facilities and leasehold improvements	—			—			5,787			—			5,787
Deferred income taxes	—			—			6,423			—			6,423
Amortization of notes receivable	—			—			12,393			—			12,393
Amortization of debt issuance costs	408			—			—			—			408
Write-off of debt issuance costs	588			—			—			—			588
Amortization of mortgage servicing rights	—			—			2,025			—			2,025
Provision for credit losses	—			—			28			—			28
Share-based compensation expense	291			—			3,391			—			3,682
Payment of taxes due for share-based awards	(2,074		)	—			—			—			(2,074		)
Changes in operating assets and liabilities	59,523			(31,569		)	(50,269		)	—			(22,315		)
Cash provided by (used in) continuing operations	48,737			(25,778		)	(9,222		)	—			13,737
Cash flows from investing activities
Purchase of office facilities	—			—			(3,366		)	—			(3,366		)
Cash used in investing activities	—			—			(3,366		)	—			(3,366		)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	(4,483		)	—			—			—			(4,483		)
Issuance of Class A non-voting common stock	185			—			—			—			185
Tax benefit from share-based awards	1,275			—			—			—			1,275
Redemption of senior secured notes	(45,000		)	—			—			—			(45,000		)
Other financing activities	—			—			17,300			—			17,300
Cash flow provided by (used in) financing activities	(48,023		)	—			17,300			—			(30,723		)
Net increase (decrease) in cash and cash equivalents	714			(25,778		)	4,712			—			(20,352		)
Cash and cash equivalents, beginning of the period	448			30,901			66,945			—			98,294
Cash and cash equivalents, end of the period	$	1,162		$	5,123		$	71,657		$	—		$	77,942
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013
(Expressed in thousands)	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
Cash flows from operations:
Net income (loss) for the period	$	(9,425	)	$	4,809		$	17,083		$	—		$	12,467
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization of office facilities and leasehold improvements	—			—			7,434			—			7,434
Deferred income taxes	—			—			13,862			—			13,862
Amortization of notes receivable	—			—			14,086			—			14,086
Amortization of debt issuance costs	479			—			—			—			479
Amortization of mortgage servicing rights	—			—			1,120			—			1,120
Provision for (reversal of) credit losses	—			—			178			—			178
Share-based compensation expense	—			—			3,966			—			3,966
Changes in operating assets and liabilities	15,958			(13,026		)	(33,576		)	—			(30,644		)
Cash provided by (used in) continuing operations	7,012			(8,217		)	24,153			—			22,948
Cash flows from investing activities
Purchase of office facilities	—			—			(12,642		)	—			(12,642		)
Cash used in investing activities	—			—			(12,642		)	—			(12,642		)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	(4,494		)	—			—			—			(4,494		)
Issuance of Class A non-voting common stock	85			—			—			—			85
Repurchase of Class A non-voting common stock	(2,314		)	—			—			—			(2,314		)
Tax deficiency from share-based awards	(92		)	—			—			—			(92		)
Other financing activities	—			—			(33,500		)	—			(33,500		)
Cash flow provided by (used in) financing activities	(6,815		)	—			(33,500		)	—			(40,315		)
Net increase (decrease) in cash and cash equivalents	197			(8,217		)	(21,989		)	—			(30,009		)
Cash and cash equivalents, beginning of the period	35			40,658			94,673			—			135,366
Cash and cash equivalents, end of the period	$	232		$	32,441		$	72,684		$	—		$	105,357

New_Accounting_Pronouncements_

New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2014
Accounting Changes and Error Corrections [Abstract]	'
Financial Services-Investment Companies	'
	In June 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") No. 2013-08 “Financial Services – Investment Companies, Amendments to the Scope, Measurement and Disclosure Requirement.” The ASU clarifies the characteristics of an investment company by amending the measurement criteria for certain interests in other investment companies. Additionally, the ASU introduces new disclosure requirements. The ASU became effective for the Company prospectively beginning January 1, 2014. The adoption of this accounting guidance did not have a material impact on the Company’s condensed consolidated financial statements.
Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists	'
	In July 2013, the FASB issued ASU No. 2013-11 “Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” The ASU provides guidance that an unrecognized tax benefit should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward. The ASU became effective for the Company prospectively beginning January 1, 2014. The adoption of this accounting guidance did not have a material impact on the Company’s condensed consolidated financial statements.
Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity	'
	Recently Issued
	In April 2014, the FASB issued ASU No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” Under this ASU, a discontinued operation is defined as a disposal of a component or group of components that is disposed of and represents a strategic shift that has or will have a major effect on an entity’s operation. The ASU also modified related disclosure requirements. The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2014 and early adoption is permitted. The Company is currently evaluating the impact, if any, that the ASU will have on its financial condition, results of operations and cash flows.
Revenue from Contracts with Customers	'
	In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The ASU outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. Additionally, the ASU expands the disclosure requirements for revenue recognition. The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2017 and early adoption is not permitted. The Company is currently evaluating the impact, if any, that the ASU will have on its financial condition, results of operations and cash flows.
Transfers and Servicing - Repurchase-to-Maturity Transactions, Repurchase Financing, and Disclosures	'
	In June 2014, the FASB issued ASU No. 2014-11, "Transfers and Servicing – Repurchase-to-Maturity Transactions, Repurchase Financing, and Disclosures," which makes amendments to the guidance in Accounting Standards Codification 860 on accounting for certain repurchase agreements. The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2015 and early adoption is not permitted. The Company is currently evaluating the impact, if any, that the ASU will have on its financial condition, results of operations and cash flows.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	'
	In June 2014, the FASB issued ASU No. 2014-12, "Compensation - Stock Compensation." The ASU clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based award as performance conditions that affect vesting. The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2015 and early adoption is permitted. The Company will not early adopt this ASU. The Company is currently evaluating the impact, if any, that the ASU will have on its financial condition, results of operations and cash flows.
	In August 2014, the FASB issued ASU No. 2014-15, "Disclosure of Uncertanities About an Entity's Ability to Continue as a Going Concern," which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The ASU requires management of an entity to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements and also provide disclosures if there is "substantial doubt about the entity's ability to continue as a going concern." The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2016 and early adoption is permitted. The Company will evaluate the impact on its disclosure.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Summary of Earnings Per Share	'
	Earnings per share have been calculated as follows:
	(Expressed in thousands, except number of shares and per share amounts)
		Three Months Ended September 30,				Nine Months Ended September 30,
		2014		2013		2014		2013
	Basic weighted average number of shares outstanding	13,630,368		13,604,276		13,595,458		13,606,527
	Net dilutive effect of share-based awards, treasury method (1)	667,074		567,526		621,789		503,604
	Diluted weighted average number of shares outstanding	14,297,442		14,171,802		14,217,247		14,110,131
	Net income for the period	$	4,625	$	5,508	$	6,792	$	12,467
	Net income attributable to non-controlling interest, net of tax	155		271		652		719
	Net income attributable to Oppenheimer Holdings Inc.	$	4,470	$	5,237	$	6,140	$	11,748
	Basic earnings per share	$	0.33	$	0.38	$	0.45	$	0.86
	Diluted earnings per share	$	0.31	$	0.37	$	0.43	$	0.83
	-1	For both the three and nine months ended September 30, 2014, the diluted earnings per share computation does not include the anti-dilutive effect of 58,008 shares of Class A Stock granted under share-based compensation arrangements (57,573 shares of Class A Stock granted under share-based compensation arrangements for the three and nine months ended September 30, 2013).

Receivable_from_and_Payable_to1

Receivable from and Payable to Brokers, Dealers and Clearing Organizations (Tables)	9 Months Ended
	Sep. 30, 2014
Brokers and Dealers [Abstract]	'
Receivable from and Payable to Brokers, Dealers and Clearing Organizations	'
	(Expressed in thousands)
		As of
		30-Sep-14		31-Dec-13
	Receivable from brokers, dealers and clearing organizations consist of:
	Securities borrowed	$	267,643	$	274,127
	Receivable from brokers	52,616		23,384
	Securities failed to deliver	24,476		9,628
	Clearing organizations	21,705		26,446
	Omnibus accounts	—		18,086
	Other	14,503		13,202
	Total	$	380,943	$	364,873
	Payable to brokers, dealers and clearing organizations consist of:
	Securities loaned	$	164,095	$	211,621
	Securities failed to receive	32,297		5,346
	Clearing organizations and other	8,558		6,348
	Total	$	204,950	$	223,315

Financial_Instruments_Tables

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Securities Owned and Securities Sold, But Not Yet Purchased at Fair Value	'
	Securities Owned and Securities Sold, But Not Yet Purchased at Fair Value
	(Expressed in thousands)
		As of September 30, 2014								As of December 31, 2013
		Owned				Sold				Owned			Sold
	U.S. Government, agency and sovereign obligations	$	522,010			$	67,496			$	596,114		$	11,889
	Corporate debt and other obligations	19,922				3,010				14,673			4,847
	Mortgage and other asset-backed securities	4,792				—				3,395			7
	Municipal obligations	62,250				55				40,166			72
	Convertible bonds	58,795				8,229				53,719			13,922
	Corporate equities	49,012				49,457				61,634			45,336
	Money markets	2,668				15				1,263			241
	Auction rate securities	87,323				—				85,124			—
	Total	$	806,772			$	128,262			$	856,088		$	76,314
Quantitative Information about Level 3 Fair Value Measurements	'
	Additional information regarding the valuation technique and inputs for level 3 financial instruments used is as follows:
	(Expressed in thousands)
	Quantitative Information about Level 3 Fair Value Measurements at September 30, 2014
	Product	Principal				Valuation				Fair Value			Valuation Technique		Unobservable Input	Range		Weighted
						Adjustment												Average
	Auction Rate Securities Owned (1)
	Auction Rate Preferred Securities	$	74,400			$	4,392			$	70,008		Discounted Cash Flow		Discount Rate (2)	1.54% to 2.1%		1.82%
															Duration	4.0 years		4.0 years
															Current Yield (3)	0.09% to 0.46%		0.28%
	Municipal Auction Rate Securities	10,400				1,118				9,282			Discounted Cash Flow		Discount Rate (4)	2.76%		2.76%
															Duration	4.5 years		4.5 years
															Current Yield (3)	0.19%		0.19%
		5,975				624				5,351			Secondary Market Trading Activity		Observable trades in inactive market for in portfolio securities	89.60% of par		89.60% of par
	Student Loan Auction Rate Securities	400				60				340			Discounted Cash Flow		Discount Rate (5)	3.40%		3.40%
															Duration	7.0 years		7.0 years
															Current Yield (3)	0.98%		0.98%
	Other (7)	3,625				1,283				2,342			Secondary Market Trading Activity		Observable trades in inactive market for in portfolio securities	64.60% of par		64.60% of par
		$	94,800			$	7,477			$	87,323
	Auction Rate Securities Commitments to Purchase (6)
	Auction Rate Preferred Securities	$	7,582			$	424			$	7,158		Discounted Cash Flow		Discount Rate (2)	1.54% to 2.1%		1.82%
															Duration	4.0 years		4.0 years
															Current Yield (3)	0.09% to 0.46%		0.28%
	Municipal Auction Rate Securities	4,952				533				4,419			Discounted Cash Flow		Discount Rate (4)	2.76%		2.76%
															Duration	4.5 years		4.5 years
															Current Yield (3)	0.19%		0.19%
	Student Loan Auction Rate Securities	538				80				458			Discounted Cash Flow		Discount Rate (5)	3.40%		3.40%
															Duration	7.0 years		7.0 years
															Current Yield (3)	0.98%		0.98%
		$	13,072			$	1,037			$	12,035
	Total	$	107,872			$	8,514			$	99,358
	-1	Principal amount represents the par value of the ARS and is included in securities owned in the condensed consolidated balance sheet at September 30, 2014. The valuation adjustment amount is included as a reduction to securities owned in the condensed consolidated balance sheet as well as principal transactions revenue in the statements of income at September 30, 2014.
	(2)Derived by applying a multiple to the spread between 110% to 150% to the U.S. Treasury rate of 1.40%.
	(3)Based on current auctions in comparable securities that have not failed.
	(4)Derived by applying a multiple to the spread of 175% to the U.S. Treasury rate of 1.58%.
	(5)Derived by applying the sum of the spread of 1.20% to the U.S. Treasury rate of 2.20%.
	-6	Principal amount represents the present value of the ARS par value that the Company is committed to purchase at a future date. This principal amount is presented as an off-balance sheet item. The valuation adjustment amount is included in accounts payable and other liabilities on the condensed consolidated balance sheet at September 30, 2014.
	-7	Represents ARS issued by a credit default obligation structure that the Company has purchased and is committed to purchase as a result of a legal settlement.
Investments in Company-Sponsored Funds	'
	The following table provides information about the Company’s investments in Company-sponsored funds at September 30, 2014:
	(Expressed in thousands)
		Fair Value				Unfunded				Redemption Frequency		Redemption
						Commitments						Notice Period
	Hedge funds(1)	$	1,540			$	—			Quarterly - Annually		30 - 120 Days
	Private equity funds(2)	6,178				1,996				N/A		N/A
		$	7,718			$	1,996
	-1	Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. Each hedge fund has various restrictions regarding redemption; no investment is locked-up for a period greater than one year.
	-2	Includes private equity funds and private equity fund of funds with a focus on diversified portfolios, real estate and global natural resources. Due to the illiquid nature of these funds, investors are not permitted to make withdrawals without consent of the general partner. The lock-up period of the private equity fund is expected to be 10 years.
Assets and Liabilities Measured at Fair Value on Recurring Basis	'
	The Company’s assets and liabilities, recorded at fair value on a recurring basis as of September 30, 2014 and December 31, 2013, have been categorized based upon the above fair value hierarchy as follows:
	Assets and liabilities measured at fair value on a recurring basis as of September 30, 2014
	(Expressed in thousands)
		Fair Value Measurements at September 30, 2014
		Level 1				Level 2				Level 3			Total
	Assets
	Cash equivalents	$	33,364			$	—			$	—		$	33,364
	Deposits with clearing organizations	16,595				—				—			16,595
	Securities owned:
	U.S. Treasury securities	503,509				—				—			503,509
	U.S. Agency securities	—				15,067				—			15,067
	Sovereign obligations	—				3,434				—			3,434
	Corporate debt and other obligations	—				19,922				—			19,922
	Mortgage and other asset-backed securities	—				4,792				—			4,792
	Municipal obligations	—				62,121				129			62,250
	Convertible bonds	—				58,795				—			58,795
	Corporate equities	49,012				—				—			49,012
	Money markets	2,668				—				—			2,668
	Auction rate securities	—				—				87,323			87,323
	Securities owned, at fair value	555,189				164,131				87,452			806,772
	Investments (1)	98				49,597				8,423			58,118
	Loans held for sale	—				20,095				—			20,095
	Securities purchased under agreements to resell (2)	—				250,000				—			250,000
	Derivative contracts:
	TBAs	—				1,774				—			1,774
	Interest rate lock commitments	—				—				5,511			5,511
	Derivative contracts, total	—				1,774				5,511			7,285
	Total	$	605,246			$	485,597			$	101,386		$	1,192,229
	Liabilities
	Securities sold, but not yet purchased:
	U.S. Treasury securities	$	67,472			$	—			$	—		$	67,472
	U.S. Agency securities	—				24				—			24
	Corporate debt and other obligations	—				3,010				—			3,010
	Municipal obligations	—				55				—			55
	Convertible bonds	—				8,229				—			8,229
	Corporate equities	49,457				—				—			49,457
	Money markets	15				—				—			15
	Securities sold, but not yet purchased at fair value	116,944				11,318				—			128,262
	Derivative contracts:
	U.S. treasury futures	87				—				—			87
	Federal funds futures	135				—							135
	Eurodollars futures	60				—				—			60
	General collateral futures	2				—				—			2
	TBAs	—				33				—			33
	Interest rate lock commitments	—				—				3,188			3,188
	ARS purchase commitments	—				—				1,037			1,037
	Derivative contracts, total	284				33				4,225			4,542
	Total	$	117,228			$	11,351			$	4,225		$	132,804
	-1	Included in other assets on the condensed consolidated balance sheet.
	-2	Included in securities purchased under agreements to resell where the Company has elected fair value option treatment.
	Assets and liabilities measured at fair value on a recurring basis as of December 31, 2013
	(Expressed in thousands)
		Fair Value Measurements at December 31, 2013
		Level 1				Level 2				Level 3			Total
	Assets
	Cash equivalents	$	60,268			$	—			$	—		$	60,268
	Securities segregated for regulatory and other purposes	11,495				—				—			11,495
	Deposits with clearing organizations	10,492				—				—			10,492
	Securities owned:
	U.S. Treasury securities	566,346				—				—			566,346
	U.S. Agency securities	—				29,448				—			29,448
	Sovereign obligations	—				320				—			320
	Corporate debt and other obligations	—				14,673				—			14,673
Mortgage and other asset-backed securities	—				3,395				—			3,395
Municipal obligations	—				39,930				236			40,166
Convertible bonds	—				53,719				—			53,719
Corporate equities	61,634				—				—			61,634
Money markets	1,263				—				—			1,263
Auction rate securities	—				—				85,124			85,124
Securities owned, at fair value	629,243				141,485				85,360			856,088
Investments (1)	10,775				47,726				5,946			64,447
Loans held for sale	—				75,989				—			75,989
Securities purchased under agreements to resell (2)	—				184,000				—			184,000
Derivative contracts:
TBAs	—				2,155				—			2,155
Interest rate lock commitments	—				—				2,375			2,375
Derivative contracts, total	—				2,155				2,375			4,530
Total	$	722,273			$	451,355			$	93,681		$	1,267,309
Liabilities
Securities sold, but not yet purchased:
U.S. Treasury securities	$	11,837			$	—			$	—		$	11,837
U.S. Agency securities	—				52				—			52
Corporate debt and other obligations	—				4,847				—			4,847
Mortgage and other asset-backed securities	—				7				—			7
Municipal obligations	—				72				—			72
Convertible bonds	—				13,922				—			13,922
Corporate equities	45,336				—				—			45,336
Money markets	241				—				—			241
Securities sold, but not yet purchased at fair value	57,414				18,900				—			76,314
Investments	648				—				—			648
Derivative contracts:
U.S. treasury futures	186				—				—			186
Federal funds futures	18				—				—			18
Eurodollars futures	44				—				—			44
TBAs	—				73				—			73
Interest rate lock commitments	—				—				3,653			3,653
ARS purchase commitments	—				—				2,600			2,600
Derivative contracts, total	248				73				6,253			6,574
Total	$	58,310			$	18,973			$	6,253		$	83,536
-1	Included in other assets on the condensed consolidated balance sheet.
-2	Included in securities purchased under agreements to resell where the Company has elected fair value option treatment.
Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis	'
	The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three months ended September 30, 2014 and 2013:
	(Expressed in thousands)
		Level 3 Assets and Liabilities
		For the Three Months Ended September 30, 2014
						Total Realized
						and Unrealized
		Beginning				Gains				Purchases			Sales and			Transfers			Ending
		Balance				(Losses) (5)(6)				and Issuances (7)			Settlements			In (Out)			Balance
	Assets
	Municipals	$	52			$	77			$	—		$	—		$	—		$	129
	Auction rate securities (1)(8)	92,548				(645		)		2,375			(6,955		)	—			87,323
	Interest rate lock commitments (2)	10,528				(5,017		)		—			—			—			5,511
	Investments (3)	8,779				(254		)		180			(282		)	—			8,423
	Liabilities
	Interest rate lock commitments (2)	3,833				645				—			—			—			3,188
	ARS purchase commitments (4)	1,514				477				—			—			—			1,037
	-1	Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market.
	-2	Interest rate lock commitment assets and liabilities are recorded upon the commitment to originate a loan with a borrower and sell the loan to an investor. The commitment assets and liabilities are recognized at fair value, which reflects the fair value of the contractual loan origination related fees and sale premiums, net of co-broker fees, and the estimated fair value of the expected net future cash flows associated with the servicing of the loan.
	-3	Primarily represents general partner ownership and limited partner interests in hedge funds and private equity funds sponsored by the Company.
	-4	Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period.
	-5	Included in principal transactions on the condensed consolidated statement of income, except for investments which are included in other income on the condensed consolidated statement of income.
	-6	Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date.
	-7	Purchases and issuances in connection with ARS purchase commitments represent instances in which the Company purchased ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that satisfy the outstanding commitment to purchase obligation. This also includes instances where the ARS issuer has redeemed ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ARS.
	-8	Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the period for regulatory and legal ARS settlements and awards.
	(Expressed in thousands)
		Level 3 Assets and Liabilities
		For the Three Months Ended September 30, 2013
						Total Realized
						and Unrealized
		Beginning				Gains				Purchases			Sales and			Transfers			Ending
		Balance				(Losses) (5)(6)				and Issuances (7)			Settlements			In (Out)			Balance
	Assets
	Mortgage and other asset-backed securities (1)	$	67			$	—			$	—		$	(8	)	$	(59	)	$	—
	Municipals	236				—				—			—			—			236
	Auction rate securities (2)(8)	78,076				(245		)		2,750			(150		)	—			80,431
	Investments (3)	12,974				(413		)		1,000			(7,435		)	—			6,126
	Liabilities
	ARS purchase commitments (4)	2,329				(83		)		—			—			—			2,412
	-1	Represents private placements of non-agency collateralized mortgage obligations.
	-2	Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market.
	-3	Primarily represents general partner ownership interests in hedge funds and private equity funds sponsored by the Company.
	-4	Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period.
	-5	Included in principal transactions on the condensed consolidated statement of income, except for investments which are included in other income on the condensed consolidated statement of income.
	-6	Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date.
	-7	Purchases and issuances in connection with ARS purchase commitments represent instances in which the Company purchased ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that satisfy the outstanding commitment to purchase obligation. This also includes instances where the ARS issuer has redeemed ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ARS.
	-8	Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the period for regulatory and legal ARS settlements and awards.
Assets and Liabilities Not Measured at Fair Value on Recurring Basis	'
	Assets and liabilities not measured at fair value on a recurring basis as of September 30, 2014
	(Expressed in thousands)
										Fair Value Measurement: Assets
		As of September 30, 2014								As of September 30, 2014
		Carrying Value				Fair Value				Level 1			Level 2			Level 3			Total
	Cash	$	44,578			$	44,578			$	44,578		$	—		$	—		$	44,578
	Cash segregated for regulatory and other purposes	19,106				19,106				19,106			—			—			19,106
	Deposits with clearing organization	15,016				15,016				15,016			—			—			15,016
	Receivable from brokers, dealers and clearing organizations
	Securities borrowed	267,643				267,643				—			267,643			—			267,643
	Receivables from brokers	52,616				52,616				—			52,616			—			52,616
	Securities failed to deliver	24,476				24,476				—			24,476			—			24,476
	Clearing organizations	21,705				21,705				—			21,705			—			21,705
	Other	14,503				14,503				—			14,503			—			14,503
		380,943				380,943				—			380,943			—			380,943
	Receivable from customers	883,133				883,133				—			883,133			—			883,133
	Mortgage servicing rights (“MSRs”)	29,496				41,768				—			—			41,768			41,768
	Escrow deposit (1)	25,014				25,014				25,014			—			—			25,014
	-1	Included in other assets on the condensed consolidated balance sheet. Represents escrow monies deposited with a commercial bank. Corresponds with payable to third party in accounts payable and other liabilities on the condensed consolidated balance sheet (see note 3 below).
	(Expressed in thousands)
										Fair Value Measurement: Liabilities
		As of September 30, 2014								As of September 30, 2014
		Carrying Value				Fair Value				Level 1			Level 2			Level 3			Total
	Drafts payable	$	24,316			$	24,316			$	24,316		$	—		$	—		$	24,316
	Bank call loans	135,500				135,500				135,500			—			—			135,500
	Payables to brokers, dealers and clearing organizations
	Securities loaned	164,095				164,095				—			164,095			—			164,095
	Securities failed to receive	32,297				32,297				—			32,297			—			32,297
	Clearing organizations and other	8,558				8,558				—			8,558			—			8,558
		204,950				204,950				—			204,950			—			204,950
	Payables to customers	689,363				689,363				—			689,363			—			689,363
	Securities sold under agreements to repurchase	688,310				688,310				—			688,310			—			688,310
	Accounts payable and other liabilities
	Warehouse payable (2)	17,540				17,540				—			17,540			—			17,540
	Payable to third party (3)	25,014				25,014				25,014			—			—			25,014
	Senior secured notes	150,000				158,063				—			158,063			—			158,063
	-2	Warehouse payable represents loans outstanding under a warehouse facility provided by a commercial bank but prior to GNMA securitization. The borrowing rate on the warehouse facility is based upon a variable interest rate of 1 month LIBOR plus a spread. The carrying amounts approximate fair value because of the short maturity of these instruments. This warehouse facility is used to fund loans held for sale on the condensed consolidated balance sheet.
	-3	Corresponds with escrow deposit in other assets on the condensed consolidated balance sheet (see note 1 above).
	Assets and liabilities not measured at fair value on a recurring basis as of December 31, 2013
	(Expressed in thousands)
										Fair Value Measurement: Assets
		As of December 31, 2013								As of December 31, 2013
		Carrying Value				Fair Value				Level 1			Level 2			Level 3			Total
	Cash	$	38,026			$	38,026			$	38,026		$	—		$	—		$	38,026
	Cash segregated for regulatory and other purposes	24,828				24,828				24,828			—			—			24,828
	Deposits with clearing organization	13,187				13,187				13,187			—			—			13,187
	Receivable from brokers, dealers and clearing organizations
	Deposits paid for securities borrowed	274,127				274,127				—			274,127			—			274,127
	Receivables from brokers	49,803				49,803				—			49,803			—			49,803
	Securities failed to deliver	9,628				9,628				—			9,628			—			9,628
	Clearing organizations	27				27				—			27			—			27
	Omnibus accounts	18,086				18,086				—			18,086			—			18,086
	Other	13,202				13,202				—			13,202			—			13,202
		364,873				364,873				—			364,873			—			364,873
	Receivable from customers	868,869				868,869				—			868,869			—			868,869
	Securities purchased under agreements to resell	825				825				825			—			—			825
	Mortgage servicing rights (“MSRs”)	28,879				40,084				—			—			40,084			40,084
	Escrow deposit (1)	25,006				25,006				25,006			—			—			25,006
	-1	Included in other assets on the condensed consolidated balance sheet. Represents escrow monies deposited with a commercial bank. Corresponds with payable to third party in accounts payable and other liabilities on the condensed consolidated balance sheet (see note 3 below).
	(Expressed in thousands)
										Fair Value Measurement: Liabilities
		As of December 31, 2013								As of December 31, 2013
		Carrying Value				Fair Value				Level 1			Level 2			Level 3			Total
Drafts payable	$	48,198			$	48,198			$	48,198		$	—		$	—		$	48,198
Bank call loans	118,200				118,200				118,200			—			—			118,200
Payables to brokers, dealers and clearing organizations
Deposits received for securities loaned	211,621				211,621				—			211,621			—			211,621
Securities failed to receive	5,346				5,346				—			5,346			—			5,346
Clearing organizations and other	6,348				6,348				—			6,348			—			6,348
	223,315				223,315				—			223,315			—			223,315
Payables to customers	626,564				626,564				—			626,564			—			626,564
Securities sold under agreements to repurchase	757,491				757,491				—			757,491			—			757,491
Accounts payable and other liabilities
Warehouse payable (2)	54,614				54,614				—			54,614			—			54,614
Payable to third party (3)	25,006				25,006				25,006			—			—			25,006
Senior secured notes	195,000				208,529				—			208,529			—			208,529
-2	Warehouse payable represents loans outstanding under a warehouse facility provided by a commercial bank but prior to GNMA securitization. The borrowing rate on the warehouse facility is based upon a variable interest rate of 1 month LIBOR plus a spread. The carrying amounts approximate fair value because of the short maturity of these instruments. This warehouse facility is used to fund loans held for sale on the condensed consolidated balance sheet.
-3	Corresponds with escrow deposit in other assets on the consolidated balance sheet (see note 1 above).
Notional Amounts and Fair Values of Derivatives by Product	'
	The notional amounts and fair values of the Company’s derivatives at September 30, 2014 and December 31, 2013 by product were as follows:
	(Expressed in thousands)
		Fair Value of Derivative Instruments at September 30, 2014
		Description		Notional				Fair Value
	Assets:
	Derivatives not designated as hedging instruments (1)
	Other contracts	TBAs		$	86,631			$	63
		TBA sale contracts		213,371				1,711
		Interest rate lock commitments		139,947				5,511
				$	439,949			$	7,285
	Liabilities:
	Derivatives not designated as hedging instruments (1)
	Commodity contracts (2)	U.S. Treasury futures		$	72,000			$	87
		Federal funds futures		3,950,000				135
		Eurodollars futures		300,000				60
		General collateral futures		225,000				2
	Other contracts	TBAs		81,973				33
		Interest rate lock commitments		51,106				3,188
		Forward start repurchase agreements		181,000				—
		ARS purchase commitments (3)		13,072				1,037
				$	4,874,151			$	4,542
	-1	See “Derivative Instruments and Hedging Activities” above for description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset.
	-2	Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
	-3	Included in accounts payable and other liabilities on the condensed consolidated balance sheet.
	(Expressed in thousands)
		Fair Value of Derivative Instruments at December 31, 2013
		Description		Notional				Fair Value
	Assets:
	Derivatives not designated as hedging instruments (1)
	Other contracts	TBAs		$	25,262			$	134
		TBA sale contracts		266,415				2,021
		Interest rate lock commitments		115,569				2,375
				$	407,246			$	4,530
	Liabilities:
	Derivatives not designated as hedging instruments (1)
	Commodity contracts (2)	U.S. Treasury futures		$	60,000			$	186
		Federal funds futures		6,155,000				18
		Eurodollars futures		347,000				44
	Other contracts	TBAs		14,547				73
		Interest rate lock commitments		76,604				3,653
		Forward start repurchase agreements		506,000				—
		ARS purchase commitments (3)		29,056				2,600
				$	7,188,207			$	6,574
	-1	See “Derivative Instruments and Hedging Activities” above for description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset.
	-2	Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
	-3	Included in accounts payable and other liabilities on the condensed consolidated balance sheet.
Fair Value Amounts of Derivative Instruments and their Effect on Statement of Operations	'
	The following table presents the location and fair value amounts of the Company’s derivative instruments and their effect on the condensed consolidated statements of income for the three months ended September 30, 2014 and 2013:
	(Expressed in thousands)
		The Effect of Derivative Instruments on the Statement of Income
		For the Three Months Ended September 30, 2014
				Recognized in Income on Derivatives
				(pre-tax)
	Types	Description		Location		Gain (Loss)
	Commodity contracts	U.S. Treasury futures		Principal transactions revenue		$	20
		Federal funds futures		Principal transactions revenue		(119		)
		Eurodollars futures		Principal transactions revenue		(4		)
		General collateral futures		Principal transactions revenue		(2		)
	Other contracts	TBAs		Principal transactions revenue		156
		TBAs sale contracts		Other		3,461
		Interest rate lock commitments		Other		(4,372		)
		ARS purchase commitments		Principal transactions revenue		477
						$	(383	)
	(Expressed in thousands)
		The Effect of Derivative Instruments on the Statement of Income
		For the Three Months Ended September 30, 2013
				Recognized in Income on Derivatives
				(pre-tax)
	Types	Description		Location		Gain (Loss)
	Commodity contracts	U.S. Treasury futures		Principal transactions revenue		$	(356	)
		Federal funds futures		Principal transactions revenue		(235		)
		Eurodollars futures		Principal transactions revenue		(36		)
	Other contracts	TBAs		Principal transactions revenue		(243		)
		TBA sale contracts		Other		(6,518		)
		ARS purchase commitments		Principal transactions revenue		(83		)
						$	(7,471	)
	The following table presents the location and fair value amounts of the Company’s derivative instruments and their effect on the condensed consolidated statements of income for the nine months ended September 30, 2014 and 2013:
	(Expressed in thousands)
		The Effect of Derivative Instruments on the Statement of Income
		For the Nine Months Ended September 30, 2014
				Recognized in Income on Derivatives
				(pre-tax)
	Types	Description		Location		Gain (Loss)
	Commodity contracts	U.S. Treasury futures		Principal transactions revenue		$	(1,040	)
		Federal funds futures		Principal transactions revenue		(272		)
		Eurodollars futures		Principal transactions revenue		(120		)
		General Collateral Futures		Principal transactions revenue		(2		)
	Other contracts	TBAs		Principal transactions revenue		132
		TBAs sale contracts		Other		(310		)
		Interest rate lock commitments		Other		3,601
		ARS purchase commitments		Principal transactions revenue		1,563
						$	3,552
	(Expressed in thousands)
		The Effect of Derivative Instruments on the Statement of Income
		For the Nine Months Ended September 30, 2013
				Recognized in Income on Derivatives
				(pre-tax)
	Types	Description		Location		Gain (Loss)
	Commodity contracts	U.S. Treasury futures		Principal transactions revenue		$	446
		Federal funds futures		Principal transactions revenue		(287		)
		Eurodollars futures		Principal transactions revenue		35
	Other contracts	TBAs		Principal transactions revenue		12
		TBA sale contracts		Other		(5,926		)
		ARS purchase commitments		Principal transactions revenue		235
						$	(5,485	)

Collateralized_Transactions_Ta

Collateralized Transactions (Tables)	9 Months Ended
	Sep. 30, 2014
Brokers and Dealers [Abstract]	'
Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Lending Transactions	'
	The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of September 30, 2014 and December 31, 2013:
	As of September 30, 2014
	(Expressed in thousands)
									Gross Amounts Not Offset on
									the Balance Sheet
		Gross		Gross			Net Amounts		Financial			Cash		Net Amount
		Amounts of		Amounts			of Assets		Instruments			Collateral
		Recognized		Offset in the			Presented on					Received
		Assets		Balance Sheet			the Balance
							Sheet
	Reverse repurchase agreements	$	349,680	$	(99,680	)	$	250,000	$	(250,000	)	$	—	$	—
	Securities borrowed (1)	267,643		—			267,643		(258,001		)	—		9,642
	Total	$	617,323	$	(99,680	)	$	517,643	$	(508,001	)	$	—	$	9,642
	-1	Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
									Gross Amounts Not Offset on
									the Balance Sheet
		Gross		Gross			Net Amounts		Financial			Cash		Net Amount
		Amounts of		Amounts			of Liabilities		Instruments			Collateral
		Recognized		Offset in the			Presented on					Pledged
		Liabilities		Balance Sheet			the Balance
							Sheet
	Repurchase agreements	$	787,990	$	(99,680	)	$	688,310	$	(686,659	)	$	—	$	1,651
	Securities loaned (2)	164,095		—			164,095		(157,859		)	—		6,236
	Total	$	952,085	$	(99,680	)	$	852,405	$	(844,518	)	$	—	$	7,887
	-2	Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
	As of December 31, 2013
	(Expressed in thousands)
									Gross Amounts Not Offset on
									the Balance Sheet
		Gross		Gross			Net Amounts		Financial			Cash		Net Amount
		Amounts of		Amounts			of Assets		Instruments			Collateral
		Recognized		Offset in the			Presented on					Received
		Assets		Balance Sheet			the Balance
							Sheet
	Reverse repurchase agreements	$	389,439	$	(204,614	)	$	184,825	$	(183,305	)	$	—	$	1,520
	Securities borrowed (1)	274,127		—			274,127		(265,936		)	—		8,191
	Total	$	663,566	$	(204,614	)	$	458,952	$	(449,241	)	$	—	$	9,711
	-1	Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet.
									Gross Amounts Not Offset on
									the Balance Sheet
		Gross		Gross			Net Amounts		Financial			Cash		Net Amount
		Amounts of		Amounts			of Liabilities		Instruments			Collateral
		Recognized		Offset in the			Presented on					Pledged
		Liabilities		Balance Sheet			the Balance
							Sheet
	Repurchase agreements	$	962,105	$	(204,614	)	$	757,491	$	(753,003	)	$	—	$	4,488
	Securities loaned (2)	211,621		—			211,621		(204,971		)	—		6,650
	Total	$	1,173,726	$	(204,614	)	$	969,112	$	(957,974	)	$	—	$	11,138
	-2	Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.

Variable_Interest_Entities_VIE1

Variable Interest Entities ("VIEs") (Tables)	9 Months Ended
	Sep. 30, 2014
Noncontrolling Interest [Abstract]	'
Variable Interest Entities ("VIEs")	'
	The following tables set forth the total VIE assets, the carrying value of the subsidiaries’ variable interests, and the Company’s maximum exposure to loss in Company-sponsored non-consolidated VIEs in which the Company holds variable interests and other non-consolidated VIEs in which the Company holds variable interests at September 30, 2014 and December 31, 2013:
	(Expressed in thousands)
		September 30, 2014
										Maximum
										Exposure
				Carrying Value of the						to Loss in
		Total		Company’s Variable Interest				Capital		Non-consolidated
		VIE Assets (1)		Assets (2)		Liabilities		Commitments		VIEs
	Hedge funds	$	1,870,079	$	3,788	$	—	$	—	$	3,788
	Private equity funds	76,900		31		—		2		33
	Total	$	1,946,979	$	3,819	$	—	$	2	$	3,821
	-1	Represents the total assets of the VIEs and does not represent the Company’s interests in the VIEs.
	-2	Represents the Company’s interests in the VIEs and is included in other assets on the condensed consolidated balance sheet.
	(Expressed in thousands)
		31-Dec-13
										Maximum
										Exposure
				Carrying Value of the						to Loss in
		Total		Company’s Variable Interest				Capital		Non-consolidated
		VIE Assets (1)		Assets (2)		Liabilities		Commitments		VIEs
	Hedge funds	$	2,282,144	$	738	$	—	$	—	$	738
	Private equity funds	64,475		29		—		5		34
	Total	$	2,346,619	$	767	$	—	$	5	$	772
	-1	Represents the total assets of the VIEs and does not represent the Company’s interests in the VIEs.
	-2	Represents the Company’s interests in the VIEs and is included in other assets on the condensed consolidated balance sheet.

Commercial_Mortgage_Banking_Ta

Commercial Mortgage Banking (Tables)	9 Months Ended
	Sep. 30, 2014
Transfers and Servicing [Abstract]	'
Unpaid Principal Balance of Loans	'
	The total unpaid principal balance of loans the Company was servicing for various institutional investors was as follows:
	(Expressed in thousands)
		As of September 30, 2014			As of December 31, 2013
	Unpaid principal balance of loans	$	4,044,961		$	3,885,437
Summary of Changes in Carrying Value of Mortgage Servicing Rights	'
	The following table summarizes the changes in carrying value of MSRs for the nine months ended September 30, 2014 and 2013:
	(Expressed in thousands)
		Nine Months Ended September 30,
		2014			2013
	Balance at beginning of period	$	28,879		$	26,983
	Originations (1)	4,252			5,668
	Purchases	144			1,108
	Disposals (1)	(1,754		)	(4,518		)
	Amortization expense	(2,025		)	(1,120		)
	Balance at end of period	$	29,496		$	28,121
	-1	Includes refinancings
Schedule of Amortization Expense	'
	Servicing rights are amortized using the straight-line method over 10 years. Future amortization expense is expected to be as follows:
	(Expressed in thousands)
		Originated MSRs			Purchased MSRs			Total MSRs
	2014	$	704		$	319		$	1,023
	2015	2,815			1,275			4,090
	2016	2,808			1,275			4,083
	2017	2,802			1,268			4,070
	2018	2,775			1,255			4,030
	Thereafter	9,071			3,129			12,200
		$	20,975		$	8,521		$	29,496
Components of Mortgage Servicing Rights Fees	'
	The Company receives fees during the course of servicing the mortgage loans. The fees for the three and nine months ended September 30, 2014 and 2013 were as follows:
	(Expressed in thousands)
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014		2013
	Servicing fees	$	1,402		$	1,287		$	4,122	$	3,739
	Late fees	6			19			11		94
	Ancillary fees	80			170			248		291
	Total MSR fees	$	1,488		$	1,476		$	4,381	$	4,124

Longterm_Debt_Tables

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of Long-Term Debt	'
	(Expressed in thousands)
	Issued	Maturity Date	At September 30, 2014		At December 31, 2013
	Senior Secured Notes	4/15/18	$	150,000	$	195,000

Share_Capital_Tables

Share Capital (Tables)	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Changes in Number of Shares of Class A Stock Outstanding	'
	The following table reflects changes in the number of shares of Class A Stock outstanding for the periods indicated:
		Three Months Ended September 30,			Nine Months Ended September 30,
		2014	2013		2014	2013
	Class A Stock outstanding, beginning of period	13,519,126	13,496,783		13,377,967	13,508,318
	Issued pursuant to shared-based compensation plans	11,562	65,227		152,721	65,227
	Repurchased and canceled pursuant to the stock buy-back	—	(119,251	)	—	(130,786	)
	Class A Stock outstanding, end of period	13,530,688	13,442,759		13,530,688	13,442,759

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Reported Revenue and Profit Before Income Taxes	'
	The table below presents information about the reported revenue and net income before taxes of the Company for the three and nine months ended September 30, 2014 and 2013. Asset information by reportable segment is not reported, since the Company does not produce such information for internal use by the chief operating decision maker.
	(Expressed in thousands)
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Revenue
	Private client *	$	142,606		$	144,316		$	435,770		$	430,963
	Asset management *	24,801			21,488			74,443			64,450
	Capital markets	71,226			68,460			221,324			201,495
	Commercial mortgage banking	6,349			9,314			18,179			26,857
	Corporate/Other	(303		)	(202		)	(180		)	2,587
	Total	$	244,679		$	243,376		$	749,536		$	726,352
	Income (loss) before income taxes
	Private client *	$	18,898		$	15,088		$	36,766		$	48,113
	Asset management *	8,264			6,387			24,300			20,332
	Capital markets	5,699			4,301			23,965			8,806
	Commercial mortgage banking	1,815			2,823			7,269			7,977
	Corporate/Other	(23,780		)	(20,436		)	(76,159		)	(64,678		)
	Total	$	10,896		$	8,163		$	16,141		$	20,550
	*    Asset management fees are allocated 22.5% to the Asset Management and 77.5% to the Private Client segments.
Revenue Classified by Major Geographic Areas	'
	Revenue, classified by the major geographic areas in which it was earned for the three and nine months ended September 30, 2014 and 2013, was as follows:
	(Expressed in thousands)
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	United States	$	233,846		$	231,777		$	710,198		$	693,251
	Europe/Middle East	9,106			9,210			32,983			26,930
	Asia	1,256			1,309			5,024			2,843
	South America	471			1,080			1,331			3,328
	Total	$	244,679		$	243,376		$	749,536		$	726,352

Condensed_Consolidating_Financ1

Condensed Consolidating Financial Information (Tables)	9 Months Ended
	Sep. 30, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]	'
Condensed Consolidating Balance Sheet	'
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING BALANCE SHEET
	AS OF SEPTEMBER 30, 2014
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	ASSETS
	Cash and cash equivalents	$	1,162		$	5,123		$	71,657		$	—		$	77,942
	Cash and securities segregated for regulatory and other purposes	—			—			19,106			—			19,106
	Deposits with clearing organizations	—			—			31,611			—			31,611
	Receivable from brokers, dealers and clearing organizations	—			—			380,943			—			380,943
	Receivable from customers, net of allowance for credit losses of $2,451	—			—			883,133			—			883,133
	Income tax receivable	26,600			27,371			(693		)	(45,477		)	7,801
	Securities purchased under agreements to resell	—			—			250,000			—			250,000
	Securities owned, including amounts pledged of $498,928, at fair value	—			5,694			801,078			—			806,772
	Subordinated loan receivable	—			112,558			—			(112,558		)	—
	Notes receivable, net	—			—			37,673			—			37,673
	Office facilities, net	—			20,310			10,208			—			30,518
	Deferred tax assets, net	21			309			26,102			(26,432		)	—
	Intangible assets	—			—			31,700			—			31,700
	Goodwill	—			—			137,889			—			137,889
	Loans held for sale	—			—			20,095			—			20,095
	Mortgage servicing rights	—			—			29,496			—			29,496
	Other assets	1,839			27,077			102,148			—			131,064
	Investment in subsidiaries	561,539			881,012			(179,607		)	(1,262,944		)	—
	Intercompany receivables	93,926			(19,048		)	(12,175		)	(62,703		)	—
	Total assets	$	685,087		$	1,060,406		$	2,640,364		$	(1,510,114	)	$	2,875,743
	LIABILITIES AND STOCKHOLDERS’ EQUITY
	Liabilities
	Drafts payable	$	—		$	—		$	24,316		$	—		$	24,316
	Bank call loans	—			—			135,500			—			135,500
	Payable to brokers, dealers and clearing organizations	—			—			204,950			—			204,950
	Payable to customers	—			—			689,363			—			689,363
	Securities sold under agreements to repurchase	—			—			688,310			—			688,310
	Securities sold, but not yet purchased, at fair value	—			—			128,262			—			128,262
	Accrued compensation	—			—			138,782			—			138,782
	Accounts payable and other liabilities	6,086			58,392			105,697			—			170,175
	Income tax payable	2,440			22,189			20,848			(45,477		)	—
	Senior secured notes	150,000			—			—			—			150,000
	Subordinated indebtedness	—			—			112,558			(112,558		)	—
	Deferred tax liabilities, net	—			12			39,939			(26,432		)	13,519
	Intercompany payables	—			62,703			—			(62,703		)	—
	Total liabilities	158,526			143,296			2,288,525			(247,170		)	2,343,177
	Stockholders’ equity
	Stockholders’ equity attributable to Oppenheimer Holdings Inc.	526,561			917,110			345,834			(1,262,944		)	526,561
	Non-controlling interest	—			—			6,005			—			6,005
	Total stockholders’ equity	526,561			917,110			351,839			(1,262,944		)	532,566
	Total liabilities and stockholders’ equity	$	685,087		$	1,060,406		$	2,640,364		$	(1,510,114	)	$	2,875,743
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING BALANCE SHEET
	AS OF DECEMBER 31, 2013
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	ASSETS
	Cash and cash equivalents	$	448		$	30,901		$	66,945		$	—		$	98,294
	Cash and securities segregated for regulatory and other purposes	—			—			36,323			—			36,323
	Deposits with clearing organizations	—			—			23,679			—			23,679
	Receivable from brokers, dealers and clearing organizations	—			—			364,873			—			364,873
	Receivable from customers, net of allowance for credit losses of $2,423	—			—			868,869			—			868,869
	Income tax receivable	19,494			27,589			(817		)	(39,704		)	6,562
	Securities purchased under agreements to resell	—			—			184,825			—			184,825
	Securities owned, including amounts pledged of $586,625, at fair value	—			2,225			853,863			—			856,088
	Subordinated loan receivable	—			112,558			—			(112,558		)	—
	Notes receivable, net	—			—			40,751			—			40,751
Office facilities, net	—			21,250			11,689			—			32,939
Deferred tax assets, net	678			309			29,496			(30,483		)	—
Intangible assets	—			—			31,700			—			31,700
Goodwill	—			—			137,889			—			137,889
Loans held for sale	—			—			75,989			—			75,989
Mortgage servicing rights	—			—			28,879			—			28,879
Other assets	2,797			27,113			135,150			—			165,060
Investment in subsidiaries	546,755			910,230			(182,625		)	(1,274,360		)	—
Intercompany receivables	153,528			(68,920		)	(20,107		)	(64,501		)	—
Total assets	$	723,700		$	1,063,255		$	2,687,371		$	(1,521,606	)	$	2,952,720
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities
Drafts payable	$	—		$	—		$	48,198		$	—		$	48,198
Bank call loans	—			—			118,200			—			118,200
Payable to brokers, dealers and clearing organizations	—			—			223,315			—			223,315
Payable to customers	—			—			626,564			—			626,564
Securities sold under agreements to repurchase	—			—			757,491			—			757,491
Securities sold, but not yet purchased, at fair value	—			—			76,314			—			76,314
Accrued compensation	—			—			180,119			—			180,119
Accounts payable and other liabilities	3,742			59,289			129,609			(88		)	192,552
Income tax payable	2,440			22,189			15,075			(39,704		)	—
Senior secured notes	195,000			—			—			—			195,000
Subordinated indebtedness	—			—			112,558			(112,558		)	—
Deferred tax liabilities, net	—			—			37,579			(30,483		)	7,096
Intercompany payables	—			64,501			—			(64,501		)	—
Total liabilities	201,182			145,979			2,325,022			(247,334		)	2,424,849
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc.	522,518			917,276			356,996			(1,274,272		)	522,518
Non-controlling interest	—			—			5,353			—			5,353
Total stockholders’ equity	522,518			917,276			362,349			(1,274,272		)	527,871
Total liabilities and stockholders’ equity	$	723,700		$	1,063,255		$	2,687,371		$	(1,521,606	)	$	2,952,720
Condensed Consolidating Statement of Operations	'
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	REVENUES
	Commissions	$	—		$	—		$	110,862		$	—		$	110,862
	Advisory fees	—			—			71,278			(321		)	70,957
	Investment banking	—			—			33,841			—			33,841
	Interest	—			2,580			12,434			(2,565		)	12,449
	Principal transactions, net	—			(161		)	4,433			—			4,272
	Other	—			85			12,279			(66		)	12,298
	Total revenue	—			2,504			245,127			(2,952		)	244,679
	EXPENSES
	Compensation and related expenses	207			—			161,127			—			161,334
	Communications and technology	37			—			15,954			—			15,991
	Occupancy and equipment costs	—			—			15,867			(66		)	15,801
	Clearing and exchange fees	—			—			5,969			—			5,969
	Interest	3,281			8			3,403			(2,565		)	4,127
	Other	235			17			30,630			(321		)	30,561
	Total expenses	3,760			25			232,950			(2,952		)	233,783
	Income (loss) before income taxes	(3,760		)	2,479			12,177			—			10,896
	Income tax provision (benefit)	(1,816		)	1,326			6,761			—			6,271
	Net income (loss) for the period	(1,944		)	1,153			5,416			—			4,625
	Less net income attributable to non-controlling interest, net of tax	—			—			155			—			155
	Equity in subsidiaries	6,415			—			—			(6,415		)	—
	Net income attributable to Oppenheimer Holdings Inc.	4,471			1,153			5,261			(6,415		)	4,470
	Other comprehensive income	—			—			(1,608		)	—			(1,608		)
	Total comprehensive income	$	4,471		$	1,153		$	3,653		$	(6,415	)	$	2,862
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	REVENUES
	Commissions	$	—		$	—		$	349,062		$	—		$	349,062
	Advisory fees	—			—			210,594			(1,002		)	209,592
	Investment banking	—			—			94,164			—			94,164
	Interest	—			7,901			37,347			(7,861		)	37,387
	Principal transactions, net	—			10			24,873			—			24,883
	Other	—			375			34,419			(346		)	34,448
	Total revenue	—			8,286			750,459			(9,209		)	749,536
	EXPENSES
	Compensation and related expenses	822			—			492,313			—			493,135
	Communications and technology	111			—			50,150			—			50,261
	Occupancy and equipment costs	—			—			47,451			(346		)	47,105
	Clearing and exchange fees	—			—			17,885			—			17,885
	Interest	11,120			8			10,436			(7,861		)	13,703
	Other	4,396			30			107,882			(1,002		)	111,306
	Total expenses	16,449			38			726,117			(9,209		)	733,395
	Income (loss) before income taxes	(16,449		)	8,248			24,342			—			16,141
	Income tax provision (benefit)	(6,450		)	2,457			13,342			—			9,349
	Net income (loss) for the period	(9,999		)	5,791			11,000			—			6,792
	Less net income attributable to non-controlling interest, net of tax	—			—			652			—			652
	Equity in subsidiaries	16,139			—			—			(16,139		)	—
	Net income attributable to Oppenheimer Holdings Inc.	6,140			5,791			10,348			(16,139		)	6,140
	Other comprehensive income	—			—			(1,356		)	—			(1,356		)
	Total comprehensive income	$	6,140		$	5,791		$	8,992		$	(16,139	)	$	4,784
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2013
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
REVENUES
Commissions	$	—		$	—		$	120,252		$	—		$	120,252
Advisory fees	—			—			60,650			(533		)	60,117
Investment banking	—			—			21,362			—			21,362
Principal transactions, net	—			26			10,321			—			10,347
Interest	—			2,777			14,805			(3,143		)	14,439
Other	—			42			16,859			(42		)	16,859
Total revenue	—			2,845			244,249			(3,718		)	243,376
EXPENSES
Compensation and related expenses	207			—			160,874			—			161,081
Occupancy and equipment costs	—			—			16,447			(42		)	16,405
Communications and technology	23			—			16,976			—			16,999
Interest	4,375			—			4,932			(3,143		)	6,164
Clearing and exchange fees	—			—			6,099			—			6,099
Other	285			4			28,709			(533		)	28,465
Total expenses	4,890			4			234,037			(3,718		)	235,213
Income (loss) before income taxes	(4,890		)	2,841			10,212			—			8,163
Income tax provision (benefit)	(1,792		)	1,808			2,639			—			2,655
Net income (loss) for the period	(3,098		)	1,033			7,573			—			5,508
Less net income attributable to non-controlling interest, net of tax	—			—			271			—			271
Equity in subsidiaries	8,335			—			—			(8,335		)	—
Net income attributable to Oppenheimer Holdings Inc.	5,237			1,033			7,302			(8,335		)	5,237
Other comprehensive income	—			—			656			—			656
Total comprehensive income	$	5,237		$	1,033		$	7,958		$	(8,335	)	$	5,893
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013
(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
REVENUES
Commissions	$	—		$	—		$	364,272		$	—		$	364,272
Advisory fees	—			—			179,137			(1,720		)	177,417
Investment banking	—			—			62,377			—			62,377
Principal transactions, net	—			38			33,558			—			33,596
Interest	5			8,370			40,119			(8,578		)	39,916
Other	—			126			48,774			(126		)	48,774
Total revenue	5			8,534			728,237			(10,424		)	726,352
EXPENSES
Compensation and related expenses	902			—			479,394			—			480,296
Occupancy and equipment costs	—			—			51,237			(126		)	51,111
Communications and technology	81			—			48,800			—			48,881
Interest	13,125			—			15,622			(8,578		)	20,169
Clearing and exchange fees	—			—			18,434			—			18,434
Other	1,045			23			87,563			(1,720		)	86,911
Total expenses	15,153			23			701,050			(10,424		)	705,802
Income (loss) before income taxes	(15,148		)	8,511			27,187			—			20,550
Income tax provision (benefit)	(5,723		)	3,702			10,104			—			8,083
Net income (loss) for the period	(9,425		)	4,809			17,083			—			12,467
Less net income attributable to non-controlling interest, net of tax	—			—			719			—			719
Equity in subsidiaries	21,173			—			—			(21,173		)	—
Net income attributable to Oppenheimer Holdings Inc.	11,748			4,809			16,364			(21,173		)	11,748
Other comprehensive income (loss)	(3		)	—			1,159			—			1,156
Total comprehensive income	$	11,745		$	4,809		$	17,523		$	(21,173	)	$	12,904
Condensed Consolidating Statement of Cash Flows	'
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
	FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014
	(Expressed in thousands)	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	Cash flows from operations:
	Net income (loss) for the period	$	(9,999	)	$	5,791		$	11,000		$	—		$	6,792
	Adjustments to reconcile net income (loss) to net cash used in operating activities:
	Depreciation and amortization of office facilities and leasehold improvements	—			—			5,787			—			5,787
	Deferred income taxes	—			—			6,423			—			6,423
	Amortization of notes receivable	—			—			12,393			—			12,393
	Amortization of debt issuance costs	408			—			—			—			408
	Write-off of debt issuance costs	588			—			—			—			588
	Amortization of mortgage servicing rights	—			—			2,025			—			2,025
	Provision for credit losses	—			—			28			—			28
	Share-based compensation expense	291			—			3,391			—			3,682
	Payment of taxes due for share-based awards	(2,074		)	—			—			—			(2,074		)
	Changes in operating assets and liabilities	59,523			(31,569		)	(50,269		)	—			(22,315		)
	Cash provided by (used in) continuing operations	48,737			(25,778		)	(9,222		)	—			13,737
	Cash flows from investing activities
	Purchase of office facilities	—			—			(3,366		)	—			(3,366		)
	Cash used in investing activities	—			—			(3,366		)	—			(3,366		)
	Cash flows from financing activities
	Cash dividends paid on Class A non-voting and Class B voting common stock	(4,483		)	—			—			—			(4,483		)
	Issuance of Class A non-voting common stock	185			—			—			—			185
	Tax benefit from share-based awards	1,275			—			—			—			1,275
	Redemption of senior secured notes	(45,000		)	—			—			—			(45,000		)
	Other financing activities	—			—			17,300			—			17,300
	Cash flow provided by (used in) financing activities	(48,023		)	—			17,300			—			(30,723		)
	Net increase (decrease) in cash and cash equivalents	714			(25,778		)	4,712			—			(20,352		)
	Cash and cash equivalents, beginning of the period	448			30,901			66,945			—			98,294
	Cash and cash equivalents, end of the period	$	1,162		$	5,123		$	71,657		$	—		$	77,942
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
	FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013
	(Expressed in thousands)	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	Cash flows from operations:
	Net income (loss) for the period	$	(9,425	)	$	4,809		$	17,083		$	—		$	12,467
	Adjustments to reconcile net income (loss) to net cash used in operating activities:
	Depreciation and amortization of office facilities and leasehold improvements	—			—			7,434			—			7,434
	Deferred income taxes	—			—			13,862			—			13,862
	Amortization of notes receivable	—			—			14,086			—			14,086
	Amortization of debt issuance costs	479			—			—			—			479
	Amortization of mortgage servicing rights	—			—			1,120			—			1,120
	Provision for (reversal of) credit losses	—			—			178			—			178
	Share-based compensation expense	—			—			3,966			—			3,966
	Changes in operating assets and liabilities	15,958			(13,026		)	(33,576		)	—			(30,644		)
	Cash provided by (used in) continuing operations	7,012			(8,217		)	24,153			—			22,948
	Cash flows from investing activities
	Purchase of office facilities	—			—			(12,642		)	—			(12,642		)
	Cash used in investing activities	—			—			(12,642		)	—			(12,642		)
	Cash flows from financing activities
	Cash dividends paid on Class A non-voting and Class B voting common stock	(4,494		)	—			—			—			(4,494		)
	Issuance of Class A non-voting common stock	85			—			—			—			85
	Repurchase of Class A non-voting common stock	(2,314		)	—			—			—			(2,314		)
	Tax deficiency from share-based awards	(92		)	—			—			—			(92		)
	Other financing activities	—			—			(33,500		)	—			(33,500		)
	Cash flow provided by (used in) financing activities	(6,815		)	—			(33,500		)	—			(40,315		)
	Net increase (decrease) in cash and cash equivalents	197			(8,217		)	(21,989		)	—			(30,009		)
	Cash and cash equivalents, beginning of the period	35			40,658			94,673			—			135,366
	Cash and cash equivalents, end of the period	$	232		$	32,441		$	72,684		$	—		$	105,357

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation - Additional Information (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	country
Organization And Basis Of Presentation [Line Items]	'	'
Number of foreign jurisdiction	6	'
Percentage of controlling interest owned by the company in OMHHF	83.68%	'
Non-controlling interest	$6,005	$5,353
United States [Member]	'	'
Organization And Basis Of Presentation [Line Items]	'	'
Number of Stores	94	'
Number of states in which an entity operates	25	'

Earnings_Per_Share_Summary_of_

Earnings Per Share - Summary of Earnings Per Share (Detail) (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Earnings Per Share [Abstract]	'		'		'		'
Basic weighted average number of shares outstanding (in shares)	13,630,368		13,604,276		13,595,458		13,606,527
Net dilutive effect of share-based awards, treasury method	667,074	[1]	567,526	[1]	621,789	[1]	503,604	[1]
Diluted weighted average number of shares outstanding (in shares)	14,297,442		14,171,802		14,217,247		14,110,131
Net income for the period	$4,625		$5,508		$6,792		$12,467
Net income attributable to non-controlling interest, net of tax	155		271		652		719
Net income attributable to Oppenheimer Holdings Inc.	$4,470		$5,237		$6,140		$11,748
Basic earnings (loss) per share (in dollars per share)	$0.33		$0.38		$0.45		$0.86
Diluted earnings (loss) per share (in dollars per share)	$0.31		$0.37		$0.43		$0.83
[1]	For both the three and nine months ended SeptemberB 30, 2014, the diluted earnings per share computation does not include the anti-dilutive effect of 58,008 shares of ClassB A Stock granted under share-based compensation arrangements (57,573 shares of ClassB A Stock granted under share-based compensation arrangements for the three and nine months ended SeptemberB 30, 2013).

Earnings_Per_Share_Summary_of_1

Earnings Per Share - Summary of Earnings Per Share (Parenthetical) (Detail) (Class A Stock [Member])	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Class A Stock [Member]	'	'	'	'
Schedule Of Earnings Per Share Basic And Diluted [Line Items]	'	'	'	'
Number of anti-dilutive warrants, options and restricted shares, for the year	58,008	57,573	58,008	57,573

Receivable_from_and_Payable_to2

Receivable from and Payable to Brokers, Dealers and Clearing Organizations - Receivable from and Payable to Brokers, Dealers and Clearing Organizations (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Receivable from brokers, dealers and clearing organizations consist of:	'	'
Securities borrowed	$267,643	$274,127
Receivable from brokers	52,616	23,384
Securities failed to deliver	24,476	9,628
Clearing organizations	21,705	26,446
Omnibus accounts	0	18,086
Other	14,503	13,202
Receivables from broker, dealers and clearing organizations	380,943	364,873
Payable to brokers, dealers and clearing organizations consist of:	'	'
Securities loaned	164,095	211,621
Securities failed to receive	32,297	5,346
Clearing organizations and other	8,558	6,348
Payable to brokers, dealers and clearing organizations	$204,950	$223,315

Financial_Instruments_Securiti

Financial Instruments - Securities Owned and Securities Sold, But Not Yet Purchased at Fair Value (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]	'	'
Securities Owned	$806,772	$856,088
Securities Sold	128,262	76,314
U.S. Government, Agency and Sovereign Obligations [Member]	'	'
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]	'	'
Securities Owned	522,010	596,114
Securities Sold	67,496	11,889
Corporate Debt and Other Obligations [Member]	'	'
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]	'	'
Securities Owned	19,922	14,673
Securities Sold	3,010	4,847
Mortgage and Other Asset-Backed Securities [Member]	'	'
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]	'	'
Securities Owned	4,792	3,395
Securities Sold	0	7
Municipal Obligations [Member]	'	'
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]	'	'
Securities Owned	62,250	40,166
Securities Sold	55	72
Convertible Bonds [Member]	'	'
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]	'	'
Securities Owned	58,795	53,719
Securities Sold	8,229	13,922
Corporate Equities [Member]	'	'
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]	'	'
Securities Owned	49,012	61,634
Securities Sold	49,457	45,336
Money Markets [Member]	'	'
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]	'	'
Securities Owned	2,668	1,263
Securities Sold	15	241
Auction Rate Securities [Member]	'	'
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]	'	'
Securities Owned	$87,323	$85,124

Financial_Instruments_Addition

Financial Instruments - Additional Information (Detail) (USD $)

9 Months Ended

9 Months Ended

9 Months Ended

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Apr. 12, 2011

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Auction Rate Securities Owned [Member]

Deferred Compensation [Member]

Deferred Compensation [Member]

Mortgage Servicing Rights [Member]

Senior Secured Notes [Member]

Senior Secured Notes [Member]

Auction Rate Securities [Member]

Fair Value, Valuation Scenario Two [Member]

Fair Value, Valuation Scenario One [Member]

Auction Rate Securities Purchase Commitment [Member]

Auction Rate Securities Purchase Commitment [Member]

Corporate Equities Liabilities [Member]

Corporate Equities Liabilities [Member]

Maximum [Member]

Auction Rate Securities [Member]

Auction Rate Securities [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair value of the corporate equities that are included in securities owned

'

'

'

$15,400,000

$15,300,000

'

'

'

'

'

'

'

'

Permanent and construction loans , discount rate

'

'

'

'

'

12.00%

'

'

'

'

'

'

'

Continuous prepayment rate used up to loans prepayment penalty rate hit 4%

'

'

'

'

'

0.00%

'

'

'

'

'

'

'

Continuous prepayment rate

'

'

'

'

'

4.00%

'

'

'

'

'

'

'

Continuous prepayment rate vast majority range minimum

'

'

'

'

'

10.00%

'

'

'

'

'

'

'

Continuous prepayment rate vast majority range maximum

'

'

'

'

'

15.00%

'

'

'

'

'

'

'

Continuous prepayment rate vast majority range average rate

'

'

'

'

'

12.00%

'

'

'

'

'

'

'

Estimated future cost to service loans on an annual basis per loan, average

'

'

'

'

'

1,250

'

'

'

'

'

'

'

Company purchased and holds auction rate securities

94,800,000

'

'

'

'

'

'

'

'

'

'

'

'

Commitment to purchase ARS from clients through 2016

13,100,000

'

'

'

'

'

'

'

'

'

'

'

'

Commitment to purchase ARS period maximum

'

'

'

'

'

'

'

'

'2016

'

'

'

'

Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Change In Discount Rate

'

'

'

'

'

'

'

'

'

0.50%

0.25%

'

'

Decrease in fair value of ARS

'

'

'

'

'

'

'

'

'

1,800,000

910,000

'

'

Valuation adjustment (unrealized loss) for ARS

8,514,000

'

7,477,000

'

'

'

'

'

'

'

'

1,037,000

1,000,000

Interest rate

'

'

'

'

'

'

8.75%

8.75%

'

'

'

'

'

Fair value of the reverse repurchase agreements

250,000,000

184,000,000

'

'

'

'

'

'

'

'

'

'

'

Fair value of repurchase agreements

'

0

'

'

'

'

'

'

'

'

'

'

'

Loans held for sale period

'60 days

'

'

'

'

'

'

'

'

'

'

'

'

Fair value of loan held for sale

20,095,000

75,989,000

'

'

'

'

'

'

'

'

'

'

'

Book value of loan held for sale

$20,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Forward or delayed delivery of the underlying instrument with settlement

'180 days

'

'

'

'

'

'

'

'

'

'

'

'

Financial_Instruments_Quantita

Financial Instruments - Quantitative Information about Level 3 Fair Value Measurements (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	$107,872
Valuation Adjustment	8,514
Fair Value	99,358
Auction Rate Securities Purchase Commitment [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	13,072
Valuation Adjustment	1,037
Fair Value	12,035
Auction Rate Securities Purchase Commitment [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	7,582
Valuation Adjustment	424
Fair Value	7,158
Valuation Technique	'Discounted Cash Flow
Auction Rate Securities Purchase Commitment [Member] | Student Loan Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	538
Valuation Adjustment	80
Fair Value	458
Valuation Technique	'Discounted Cash Flow
Auction Rate Securities Purchase Commitment [Member] | Municipal Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	4,952
Valuation Adjustment	533
Fair Value	4,419
Valuation Technique	'Discounted Cash Flow
Auction Rate Securities Owned [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	94,800
Valuation Adjustment	7,477
Fair Value	87,323
Auction Rate Securities Owned [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	74,400
Valuation Adjustment	4,392
Fair Value	70,008
Valuation Technique	'DiscountedB CashB Flow
Auction Rate Securities Owned [Member] | Municipal Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	10,400
Valuation Adjustment	1,118
Fair Value	9,282
Valuation Technique	'Discounted Cash Flow
Discount Rate	2.76%
Duration	'4 years 6 months
Current Yield	0.19%
Auction Rate Securities Owned [Member] | Municipal Auction Rate Securities 02 [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	5,975
Valuation Adjustment	624
Fair Value	5,351
Valuation Technique	'Secondary Market Trading Activity
Observable trades in inactive market for in portfolio securities	89.60%
Auction Rate Securities Owned [Member] | Student Loan Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	400
Valuation Adjustment	60
Fair Value	340
Valuation Technique	'Discounted Cash Flow
Discount Rate	3.40%
Duration	'7 years
Current Yield	0.98%
Auction Rate Securities Owned [Member] | Other Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Principal	3,625
Valuation Adjustment	1,283
Fair Value	$2,342
Valuation Technique	'Secondary Market Trading Activity
Observable trades in inactive market for in portfolio securities	64.60%
Auction Rate Securities Owned [Member] | Minimum [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	1.54%
Duration	'4 years
Current Yield	0.09%
Auction Rate Securities Owned [Member] | Maximum [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	2.10%
Current Yield	0.46%
Auction Rate Securities Owned [Member] | Weighted Average [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	1.82%
Duration	'4 years
Current Yield	0.28%
Auction Rate Securities Owned [Member] | Weighted Average [Member] | Municipal Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	2.76%
Duration	'4 years 6 months
Current Yield	0.19%
Auction Rate Securities Owned [Member] | Weighted Average [Member] | Municipal Auction Rate Securities 02 [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Observable trades in inactive market for in portfolio securities	89.60%
Auction Rate Securities Owned [Member] | Weighted Average [Member] | Student Loan Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	3.40%
Duration	'7 years
Current Yield	0.98%
Auction Rate Securities Owned [Member] | Weighted Average [Member] | Other Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Observable trades in inactive market for in portfolio securities	64.60%
Auction Rate Securities Purchase Commitment [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Duration	'4 years
Auction Rate Securities Purchase Commitment [Member] | Student Loan Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	3.40%
Duration	'7 years
Current Yield	0.98%
Auction Rate Securities Purchase Commitment [Member] | Municipal Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	2.76%
Duration	'4 years 6 months
Current Yield	0.19%
Auction Rate Securities Purchase Commitment [Member] | Minimum [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	1.54%
Current Yield	0.09%
Auction Rate Securities Purchase Commitment [Member] | Maximum [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	2.10%
Current Yield	0.46%
Auction Rate Securities Purchase Commitment [Member] | Weighted Average [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	1.82%
Duration	'4 years
Current Yield	0.28%
Auction Rate Securities Purchase Commitment [Member] | Weighted Average [Member] | Student Loan Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	3.40%
Duration	'7 years
Current Yield	0.98%
Auction Rate Securities Purchase Commitment [Member] | Weighted Average [Member] | Municipal Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Discount Rate	2.76%
Duration	'4 years 6 months
Current Yield	0.19%
Auction Rate Securities [Member] | Fair Value, Valuation Scenario Two [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Change In Discount Rate	0.50%
Auction Rate Securities [Member] | Fair Value, Valuation Scenario One [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Change In Discount Rate	0.25%

Financial_Instruments_Quantita1

Financial Instruments - Quantitative Information about Level 3 Fair Value Measurements (Parenthetical) (Detail)	Sep. 30, 2014
Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
U.S. Treasury rate	1.40%
Municipal Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Fair value assumption discount rate range of spread rate on treasury securities	175.00%
U.S. Treasury rate	1.58%
Student Loan Auction Rate Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Fair value assumption discount rate range of spread rate on treasury securities	1.20%
U.S. Treasury rate	2.20%
Minimum [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Fair value assumption discount rate range of spread rate on treasury securities	110.00%
Maximum [Member] | Auction Rate Preferred Securities [Member]	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'
Fair value assumption discount rate range of spread rate on treasury securities	150.00%

Financial_Instruments_Investme

Financial Instruments - Investments in Company-Sponsored Funds (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Investment Holdings [Line Items]	'
Fair Value	$7,718
Unfunded Commitments	1,996
Hedge Funds [Member]	'
Investment Holdings [Line Items]	'
Fair Value	1,540
Redemption Frequency	'Quarterly - Annually
Redemption Notice Period, Minimum	'30 days
Redemption Notice Period, Maximum	'120 days
Private Equity Funds [Member]	'
Investment Holdings [Line Items]	'
Fair Value	6,178
Unfunded Commitments	$1,996

Financial_Instruments_Investme1

Financial Instruments - Investments in Company-Sponsored Funds (Parenthetical) (Detail)	3 Months Ended
	Sep. 30, 2014
Private Equity Funds [Member]	'
Investment Holdings [Line Items]	'
Investments lock in period	'10 years
Maximum [Member] | Hedge Funds [Member]	'
Investment Holdings [Line Items]	'
Investments lock in period	'1 year

Financial_Instruments_Assets_a

Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'
Cash and Cash Equivalents, at Carrying Value	$77,942	$98,294	$105,357	$135,366
ASSETS	'	'	'	'
Cash equivalents	33,364	60,268	'	'
Securities segregated for regulatory and other purposes	'	11,495	'	'
Deposits with clearing organizations	16,595	10,492	'	'
Securities owned:	'	'	'	'
Securities Owned	806,772	856,088	'	'
Investments	7,718	'	'	'
Loans held for sale	20,095	75,989	'	'
Securities purchased under agreements to resell	250,000	184,000	'	'
Derivative contracts:	'	'	'	'
Derivative contracts, total	7,285	4,530	'	'
Total	1,192,229	1,267,309	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	128,262	76,314	'	'
Investments	'	648	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	4,542	6,574	'	'
Total	132,804	83,536	'	'
Federal Funds Futures [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	135	18	'	'
Eurodollar Future [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	60	44	'	'
general collateral futures [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	2	'	'	'
To Be Announced Security [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts, total	1,774	2,155	'	'
Derivative contracts:	'	'	'	'
TBAs	33	73	'	'
Interest Rate Lock Commitments [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts, total	5,511	2,375	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	3,188	3,653	'	'
U.S. Treasury Futures [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	87	186	'	'
Auction Rate Securities Purchase Commitment [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	1,037	2,600	'	'
Corporate Equities [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	49,012	61,634	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	49,457	45,336	'	'
Money Markets [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	2,668	1,263	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	15	241	'	'
Auction Rate Securities [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	87,323	85,124	'	'
Investments Included in Other Assets [Member]	'	'	'	'
Securities owned:	'	'	'	'
Investments	58,118	64,447	'	'
U.S. Treasury Securities [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	503,509	566,346	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	67,472	11,837	'	'
U.S. Agency Securities [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	15,067	29,448	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	24	52	'	'
Sovereign Obligations [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	3,434	320	'	'
Corporate Debt and Other Obligations [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	19,922	14,673	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	3,010	4,847	'	'
Mortgage and Other Asset-Backed Securities [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	4,792	3,395	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	'	7	'	'
Municipal Obligations [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	62,250	40,166	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	55	72	'	'
Convertible Bonds [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	58,795	53,719	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	8,229	13,922	'	'
Level 1 [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash equivalents	33,364	60,268	'	'
Securities segregated for regulatory and other purposes	'	11,495	'	'
Deposits with clearing organizations	16,595	10,492	'	'
Securities owned:	'	'	'	'
Securities Owned	555,189	629,243	'	'
Derivative contracts:	'	'	'	'
Total	605,246	722,273	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	116,944	57,414	'	'
Investments	'	648	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	284	248	'	'
Total	117,228	58,310	'	'
Level 1 [Member] | Federal Funds Futures [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	135	18	'	'
Level 1 [Member] | Eurodollar Future [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	60	44	'	'
Level 1 [Member] | general collateral futures [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	2	'	'	'
Level 1 [Member] | U.S. Treasury Futures [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	87	'	'	'
Level 1 [Member] | U.S. Treasury Futures [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	'	186	'	'
Level 1 [Member] | Corporate Equities [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	49,012	61,634	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	49,457	45,336	'	'
Level 1 [Member] | Money Markets [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	2,668	1,263	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	15	241	'	'
Level 1 [Member] | Investments Included in Other Assets [Member]	'	'	'	'
Securities owned:	'	'	'	'
Investments	98	10,775	'	'
Level 1 [Member] | U.S. Treasury Securities [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	503,509	566,346	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	67,472	11,837	'	'
Level 2 [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	164,131	141,485	'	'
Loans held for sale	20,095	75,989	'	'
Securities purchased under agreements to resell	250,000	184,000	'	'
Derivative contracts:	'	'	'	'
Derivative contracts, total	1,774	2,155	'	'
Total	485,597	451,355	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	11,318	18,900	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	33	73	'	'
Total	11,351	18,973	'	'
Level 2 [Member] | Eurodollar Future [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	0	'	'	'
Level 2 [Member] | To Be Announced Security [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts, total	1,774	2,155	'	'
Derivative contracts:	'	'	'	'
TBAs	33	73	'	'
Level 2 [Member] | Federal Funds Futures [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	0	'	'	'
Level 2 [Member] | Investments Included in Other Assets [Member]	'	'	'	'
Securities owned:	'	'	'	'
Investments	49,597	47,726	'	'
Level 2 [Member] | U.S. Agency Securities [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	15,067	29,448	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	24	52	'	'
Level 2 [Member] | Sovereign Obligations [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	3,434	320	'	'
Level 2 [Member] | Corporate Debt and Other Obligations [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	19,922	14,673	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	3,010	4,847	'	'
Level 2 [Member] | Mortgage and Other Asset-Backed Securities [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	4,792	3,395	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	'	7	'	'
Level 2 [Member] | Municipal Obligations [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	62,121	39,930	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	55	72	'	'
Level 2 [Member] | Convertible Bonds [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	58,795	53,719	'	'
Securities sold, but not yet purchased:	'	'	'	'
Securities sold, but not yet purchased, at fair value	8,229	13,922	'	'
Level 3 [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	87,452	85,360	'	'
Derivative contracts:	'	'	'	'
Derivative contracts, total	5,511	2,375	'	'
Total	101,386	93,681	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	4,225	6,253	'	'
Total	4,225	6,253	'	'
Level 3 [Member] | Interest Rate Lock Commitments [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts, total	5,511	2,375	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	3,188	3,653	'	'
Level 3 [Member] | Auction Rate Securities [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	87,323	85,124	'	'
Level 3 [Member] | Auction Rate Securities Purchase Commitment [Member]	'	'	'	'
Derivative contracts:	'	'	'	'
Derivative contracts	1,037	2,600	'	'
Level 3 [Member] | Investments Included in Other Assets [Member]	'	'	'	'
Securities owned:	'	'	'	'
Investments	8,423	5,946	'	'
Level 3 [Member] | Municipal Obligations [Member]	'	'	'	'
Securities owned:	'	'	'	'
Securities Owned	$129	$236	'	'

Financial_Instruments_Changes_

Financial Instruments - Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	$3,188	$0	$3,188	$0	$3,833	$3,653	'	$100
Total Realized and Unrealized Gains (Losses)	645	'	465	'	'	'	'	'
Purchases and Issuances	'	'	'	100	'	'	'	'
Investments [Member]	'	'	'	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'
Beginning Balance	'	'	5,946	12,954	8,779	'	12,974	'
Total Realized and Unrealized Gains (Losses)	-254	-413	-341	210	'	'	'	'
Purchases and Issuances	180	1,000	4,444	1,000	'	'	'	'
Sales and Settlements	-282	-7,435	-1,006	-8,038	'	'	'	'
Transfers In (Out)	0	0	-620	0	'	'	'	'
Ending Balance	8,423	6,126	8,423	6,126	8,779	'	12,974	'
Interest Rate Lock Commitments [Member]	'	'	'	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'
Beginning Balance	'	'	2,375	'	10,528	'	'	'
Total Realized and Unrealized Gains (Losses)	-5,017	'	3,136	'	'	'	'	'
Ending Balance	5,511	'	5,511	'	10,528	'	'	'
Auction Rate Securities [Member]	'	'	'	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'
Beginning Balance	'	'	85,124	72,118	92,548	'	78,076	'
Total Realized and Unrealized Gains (Losses)	-645	-245	-971	-437	'	'	'	'
Purchases and Issuances	2,375	2,750	16,550	13,175	'	'	'	'
Sales and Settlements	-6,955	-150	-13,380	-4,425	'	'	'	'
Ending Balance	87,323	80,431	87,323	80,431	92,548	'	78,076	'
Auction Rate Securities Purchase Commitment [Member]	'	'	'	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	1,037	2,412	1,037	2,412	1,514	2,600	2,329	2,647
Total Realized and Unrealized Gains (Losses)	477	-83	1,563	235	'	'	'	'
Mortgage and Other Asset-Backed Securities [Member]	'	'	'	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'
Beginning Balance	'	'	'	40	'	'	67	'
Total Realized and Unrealized Gains (Losses)	'	0	'	0	'	'	'	'
Purchases and Issuances	'	0	'	0	'	'	'	'
Sales and Settlements	'	-8	'	-8	'	'	'	'
Transfers In (Out)	'	-59	'	-32	'	'	'	'
Ending Balance	'	0	'	0	'	'	67	'
Municipal Obligations [Member]	'	'	'	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'
Beginning Balance	'	'	236	239	52	'	236	'
Total Realized and Unrealized Gains (Losses)	77	0	-107	-3	'	'	'	'
Purchases and Issuances	'	0	'	0	'	'	'	'
Sales and Settlements	'	0	'	0	'	'	'	'
Ending Balance	$129	$236	$129	$236	$52	'	$236	'

Financial_Instruments_Assets_a1

Financial Instruments - Assets and Liabilities Not Measured at Fair Value on Recurring Basis (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Cash and Cash Equivalents, Fair Value Disclosure	$33,364	$60,268
Cash And Securities Segregated Under Other Regulations Measure At Fair Value	'	11,495
Deposits With Clearing Organizations Fair Value	16,595	10,492
Securities purchased under agreements to resell	250,000	184,825
Security Owned and Sold, Not yet Purchased Fair Value, Security Owned	806,772	856,088
Investments, Fair Value Disclosure	7,718	'
Loans Held-for-sale, Fair Value Disclosure	20,095	75,989
Fair Value Of Securities Reverse Repurchase Agreement	250,000	184,000
Derivative Asset	7,285	4,530
Assets, Fair Value Disclosure	1,192,229	1,267,309
Security Owned and Sold, Not yet Purchased Fair Value, Security Sold, Not yet Purchased	128,262	76,314
Liabilities Related to Investment Contracts, Fair Value Disclosure	'	648
Derivative Liability	4,542	6,574
Fair Value Measurement Assets [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Cash	44,578	38,026
Deposits paid for securities borrowed	267,643	274,127
Receivables from brokers	52,616	49,803
Securities failed to deliver	24,476	9,628
Clearing organizations	21,705	27
Omnibus accounts	'	18,086
Other	14,503	13,202
Total Receivable from brokers, dealers and clearing organizations	380,943	364,873
Receivable from customers	883,133	868,869
Securities purchased under agreements to resell	'	825
Mortgage servicing rights (MSRs)	41,768	40,084
Escrow deposit	25,014	25,006
Fair Value Estimate Not Practicable Cash And Securities Segregated Under Federal And Other Regulations	19,106	24,828
Fair Value Estimate Not Practicable Deposits With Clearing Organizations	15,016	13,187
Fair Value Measurement Liabilities [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Drafts payable	24,316	48,198
Bank call loans	135,500	118,200
Deposits received for securities loaned	164,095	211,621
Securities failed to receive	32,297	5,346
Clearing organizations and other	8,558	6,348
Total payables to brokers, dealers and clearing organizations	204,950	223,315
Payables to customers	689,363	626,564
Securities sold under agreements to repurchase	688,310	757,491
Warehouse payable	17,540	54,614
Payable to third party	25,014	25,006
Senior secured notes	158,063	208,529
Carrying Value [Member] | Fair Value Measurement Assets [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Cash	44,578	38,026
Deposits paid for securities borrowed	267,643	274,127
Receivables from brokers	52,616	49,803
Securities failed to deliver	24,476	9,628
Clearing organizations	21,705	27
Omnibus accounts	'	18,086
Other	14,503	13,202
Total Receivable from brokers, dealers and clearing organizations	380,943	364,873
Receivable from customers	883,133	868,869
Securities purchased under agreements to resell	'	825
Mortgage servicing rights (MSRs)	29,496	28,879
Escrow deposit	25,014	25,006
Fair Value Estimate Not Practicable Cash And Securities Segregated Under Federal And Other Regulations	19,106	24,828
Fair Value Estimate Not Practicable Deposits With Clearing Organizations	15,016	13,187
Carrying Value [Member] | Fair Value Measurement Liabilities [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Drafts payable	24,316	48,198
Bank call loans	135,500	118,200
Deposits received for securities loaned	164,095	211,621
Securities failed to receive	32,297	5,346
Clearing organizations and other	8,558	6,348
Total payables to brokers, dealers and clearing organizations	204,950	223,315
Payables to customers	689,363	626,564
Securities sold under agreements to repurchase	688,310	757,491
Warehouse payable	17,540	54,614
Payable to third party	25,014	25,006
Senior secured notes	150,000	195,000
Fair Value [Member] | Fair Value Measurement Assets [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Cash	44,578	38,026
Deposits paid for securities borrowed	267,643	274,127
Receivables from brokers	52,616	49,803
Securities failed to deliver	24,476	9,628
Clearing organizations	21,705	27
Omnibus accounts	'	18,086
Other	14,503	13,202
Total Receivable from brokers, dealers and clearing organizations	380,943	364,873
Receivable from customers	883,133	868,869
Securities purchased under agreements to resell	'	825
Mortgage servicing rights (MSRs)	41,768	40,084
Escrow deposit	25,014	25,006
Fair Value Estimate Not Practicable Cash And Securities Segregated Under Federal And Other Regulations	19,106	24,828
Fair Value Estimate Not Practicable Deposits With Clearing Organizations	15,016	13,187
Fair Value [Member] | Fair Value Measurement Liabilities [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Drafts payable	24,316	48,198
Bank call loans	135,500	118,200
Deposits received for securities loaned	164,095	211,621
Securities failed to receive	32,297	5,346
Clearing organizations and other	8,558	6,348
Total payables to brokers, dealers and clearing organizations	204,950	223,315
Payables to customers	689,363	626,564
Securities sold under agreements to repurchase	688,310	757,491
Warehouse payable	17,540	54,614
Payable to third party	25,014	25,006
Senior secured notes	158,063	208,529
Level 1 [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Cash and Cash Equivalents, Fair Value Disclosure	33,364	60,268
Cash And Securities Segregated Under Other Regulations Measure At Fair Value	'	11,495
Deposits With Clearing Organizations Fair Value	16,595	10,492
Security Owned and Sold, Not yet Purchased Fair Value, Security Owned	555,189	629,243
Assets, Fair Value Disclosure	605,246	722,273
Security Owned and Sold, Not yet Purchased Fair Value, Security Sold, Not yet Purchased	116,944	57,414
Liabilities Related to Investment Contracts, Fair Value Disclosure	'	648
Derivative Liability	284	248
Level 1 [Member] | Fair Value Measurement Assets [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Cash	44,578	38,026
Securities purchased under agreements to resell	'	825
Escrow deposit	25,014	25,006
Fair Value Estimate Not Practicable Cash And Securities Segregated Under Federal And Other Regulations	19,106	24,828
Fair Value Estimate Not Practicable Deposits With Clearing Organizations	15,016	13,187
Level 1 [Member] | Fair Value Measurement Liabilities [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Drafts payable	24,316	48,198
Bank call loans	135,500	118,200
Payable to third party	25,014	25,006
Level 2 [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Security Owned and Sold, Not yet Purchased Fair Value, Security Owned	164,131	141,485
Loans Held-for-sale, Fair Value Disclosure	20,095	75,989
Fair Value Of Securities Reverse Repurchase Agreement	250,000	184,000
Derivative Asset	1,774	2,155
Assets, Fair Value Disclosure	485,597	451,355
Security Owned and Sold, Not yet Purchased Fair Value, Security Sold, Not yet Purchased	11,318	18,900
Derivative Liability	33	73
Level 2 [Member] | Fair Value Measurement Assets [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Deposits paid for securities borrowed	267,643	274,127
Receivables from brokers	52,616	49,803
Securities failed to deliver	24,476	9,628
Clearing organizations	21,705	27
Omnibus accounts	'	18,086
Other	14,503	13,202
Total Receivable from brokers, dealers and clearing organizations	380,943	364,873
Receivable from customers	883,133	868,869
Level 2 [Member] | Fair Value Measurement Liabilities [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Deposits received for securities loaned	164,095	211,621
Securities failed to receive	32,297	5,346
Clearing organizations and other	8,558	6,348
Total payables to brokers, dealers and clearing organizations	204,950	223,315
Payables to customers	689,363	626,564
Securities sold under agreements to repurchase	688,310	757,491
Warehouse payable	17,540	54,614
Senior secured notes	158,063	208,529
Level 3 [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Security Owned and Sold, Not yet Purchased Fair Value, Security Owned	87,452	85,360
Derivative Asset	5,511	2,375
Assets, Fair Value Disclosure	101,386	93,681
Derivative Liability	4,225	6,253
Level 3 [Member] | Fair Value Measurement Assets [Member]	'	'
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]	'	'
Mortgage servicing rights (MSRs)	$41,768	$40,084

Financial_Instruments_Notional

Financial Instruments - Notional Amounts and Fair Values of Derivatives by Product (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivatives, Fair Value [Line Items]	'	'
Derivatives asset, Notional	$439,949	$407,246
Derivatives asset, Fair Value	7,285	4,530
Derivative liability, notional	4,874,151	7,188,207
Derivative liability, Fair Value	4,542	6,574
Commodity Contracts [Member] | U.S. Treasury Futures [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative liability, notional	72,000	60,000
Derivative liability, Fair Value	87	186
Commodity Contracts [Member] | Federal Funds Futures [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative liability, notional	3,950,000	6,155,000
Derivative liability, Fair Value	135	18
Commodity Contracts [Member] | general collateral futures [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative liability, notional	225,000	'
Derivative liability, Fair Value	2	'
Commodity Contracts [Member] | Euro Dollars Futures [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative liability, notional	300,000	347,000
Derivative liability, Fair Value	60	44
Other Contracts [Member] | Interest Rate Lock Commitments [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivatives asset, Notional	139,947	115,569
Derivatives asset, Fair Value	5,511	2,375
Derivative liability, notional	51,106	76,604
Derivative liability, Fair Value	3,188	3,653
Other Contracts [Member] | Forward Start Repurchase Agreement [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative liability, notional	181,000	'
Other Contracts [Member] | Tba [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivatives asset, Notional	86,631	25,262
Derivatives asset, Fair Value	63	134
Derivative liability, notional	81,973	14,547
Derivative liability, Fair Value	33	73
Other Contracts [Member] | Tba Sale Agreements [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivatives asset, Notional	213,371	266,415
Derivatives asset, Fair Value	1,711	2,021
Other Contracts [Member] | Forward Start Repurchase Agreement [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative liability, notional	'	506,000
Other Contracts [Member] | Auction Rate Securities Purchase Commitment [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative liability, notional	13,072	29,056
Derivative liability, Fair Value	$1,037	$2,600

Financial_Instruments_Fair_Val

Financial Instruments - Fair Value Amounts of Derivative Instruments and their Effect on Statement of Operations (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	($383)	($7,471)	$3,552	($5,485)
Commodity Contracts [Member] | U.S. Treasury Futures [Member] | Principal Transaction Revenue [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	20	-356	-1,040	446
Commodity Contracts [Member] | Federal Funds Futures [Member] | Principal Transaction Revenue [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	-119	-235	-272	-287
Commodity Contracts [Member] | general collateral futures [Member] | Principal Transaction Revenue [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	-4	'	-2	'
Commodity Contracts [Member] | Euro Dollars Futures [Member] | Principal Transaction Revenue [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	-2	-36	-120	35
Other Contracts [Member] | Tba Sale Agreements [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	3,461	'	'	'
Other Contracts [Member] | Other [Member] | Tba Sale Agreements [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	'	-6,518	-310	'
Other Contracts [Member] | Other [Member] | Interest Rate Lock Commitments [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	-4,372	'	3,601	'
Other Contracts [Member] | To Be Announced Security [Member] | Principal Transaction Revenue [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	156	-243	132	12
Other Contracts [Member] | To Be Announced Security [Member] | Other [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	'	'	'	-5,926
Other Contracts [Member] | Auction Rate Securities Purchase Commitment [Member] | Principal Transaction Revenue [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	$477	($83)	$1,563	$235

Collateralized_Transactions_Ad

Collateralized Transactions - Additional Information (Detail) (USD $)

0 Months Ended

3 Months Ended

9 Months Ended

Sep. 26, 2013

Sep. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

broker-dealer

Credit Concentration Risk [Member]

Credit Concentration Risk [Member]

Credit Concentration Risk [Member]

Credit Concentration Risk [Member]

Warehouse Facility [Member]

Reverse Repurchase Agreements [Member]

Reverse Repurchase Agreements [Member]

Securities Borrowed Transactions [Member]

Securities Borrowed Transactions [Member]

Corporate [Member]

Other Than Corporate Customer [Member]

Credit Concentration Risk [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Bank call loans

'

$135,500,000

'

$118,200,000

'

'

'

'

'

'

'

'

'

'

'

Collateralized loans, collateralized by firm

'

'

'

'

'

'

'

'

'

'

'

'

'

125,300,000

'

Collateralized loans, collateralized by customer securities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

148,900,000

Customer securities under customer margin loans available to be pledged

'

1,300,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Customer securities under customer margin loans agreement available to be repledged

'

134,200,000

'

'

'

'

'

'

'

349,500,000

385,500,000

21,900,000

11,000,000

'

'

Customer securities deposited to secure obligations and margin requirements under option contracts

'

360,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Outstanding letters of credit

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair value of the reverse repurchase agreements

'

250,000,000

'

184,000,000

'

'

'

'

'

'

'

'

'

'

'

Securities received as collateral under securities borrowed transaction with market value

'

'

'

'

'

'

'

'

'

349,500,000

385,500,000

259,200,000

265,300,000

'

'

Carrying value of pledged securities owned that can be sold or re-pledged by the counterparty

'

498,900,000

'

586,600,000

'

'

'

'

'

'

'

'

'

'

'

Carrying value of securities owned by the Company loaned or pledged

'

127,900,000

'

126,800,000

'

'

'

'

'

'

'

'

'

'

'

Amount of first interim distribution

9,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair value of the company's investment on reserves not paid in first distribution

'

'

600,000

'

'

'

'

'

'

'

'

'

'

'

'

Receivable from brokers and clearing organizations, number of major broker-dealers

'

3

'

'

'

'

'

'

'

'

'

'

'

'

'

Receivable from brokers and clearing organizations

'

135,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Guaranteed mortgages for a period

'

'

'

'

'

'

'15 days

'

'

'

'

'

'

'

'

Outstanding under the warehouse facility line

'

'

'

'

'

'

'

'

17,500,000

'

'

'

'

'

'

Variable interest rate under warehouse facility

'

'

'

'

'

'

'1 month LIBOR

'

'

'

'

'

'

'

'

Interest expense

'

'

'

'

$181,000

$183,000

$400,000

$616,000

'

'

'

'

'

'

'

Collateralized_Transactions_Sc

Collateralized Transactions - Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Lending Transactions (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Securities Financing Transaction [Line Items]	'	'
Net Amounts of Assets Presented on the Balance Sheet	$250,000	$184,825
Net Amounts of Liabilities Presented on the Balance Sheet	688,310	757,491
Gross Amounts of Recognized Assets	617,323	663,566
Gross Amounts Offset in the Balance Sheet	-99,680	-204,614
Net Amounts of Assets Presented on the Balance Sheet	517,643	458,952
Financial Instruments	508,001	449,241
Net Amount	9,642	9,711
Gross Amounts of Recognized Liabilities	952,085	1,173,726
Gross Amounts Offset in the Balance Sheet	-99,680	-204,614
Net Amounts of Liabilities Presented on the Balance Sheet	852,405	969,112
Financial Instruments	844,518	957,974
Net Amount	7,887	11,138
Reverse Repurchase Agreements [Member]	'	'
Securities Financing Transaction [Line Items]	'	'
Gross Amounts of Recognized Assets	349,680	389,439
Gross Amounts Offset in the Balance Sheet	-99,680	-204,614
Net Amounts of Assets Presented on the Balance Sheet	250,000	184,825
Financial Instruments	250,000	183,305
Net Amount	0	1,520
Securities Borrowed [Member]	'	'
Securities Financing Transaction [Line Items]	'	'
Gross Amounts of Recognized Assets	267,643	274,127
Net Amounts of Assets Presented on the Balance Sheet	267,643	274,127
Financial Instruments	258,001	265,936
Net Amount	9,642	8,191
Repurchase Agreements [Member]	'	'
Securities Financing Transaction [Line Items]	'	'
Gross Amounts of Recognized Liabilities	787,990	962,105
Gross Amounts Offset in the Balance Sheet	-99,680	-204,614
Net Amounts of Liabilities Presented on the Balance Sheet	688,310	757,491
Financial Instruments	686,659	753,003
Net Amount	1,651	4,488
Securities Loaned [Member]	'	'
Securities Financing Transaction [Line Items]	'	'
Gross Amounts of Recognized Liabilities	164,095	211,621
Net Amounts of Liabilities Presented on the Balance Sheet	164,095	211,621
Financial Instruments	157,859	204,971
Net Amount	$6,236	$6,650

Variable_Interest_Entities_VIE2

Variable Interest Entities ("VIEs") - Variable Interest Entities (Detail) (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Variable Interest Entity [Line Items]	'		'
Total VIE Assets	$1,946,979	[1]	$2,346,619	[1]
Carrying Value of Variable Interest Assets	3,819	[2]	767	[2]
Capital Commitments	2		5
Maximum Exposure to Loss in Non- consolidated VIEs	3,821		772
Hedge Funds [Member]	'		'
Variable Interest Entity [Line Items]	'		'
Total VIE Assets	1,870,079	[1]	2,282,144	[1]
Carrying Value of Variable Interest Assets	3,788	[2]	738	[2]
Maximum Exposure to Loss in Non- consolidated VIEs	3,788		738
Private Equity Funds [Member]	'		'
Variable Interest Entity [Line Items]	'		'
Total VIE Assets	76,900	[1]	64,475	[1]
Carrying Value of Variable Interest Assets	31	[2]	29	[2]
Capital Commitments	2		5
Maximum Exposure to Loss in Non- consolidated VIEs	$33		$34
[1]	Represents the total assets of the VIEs and does not represent the Companybs interests in the VIEs.
[2]	Represents the Companybs interests in the VIEs and is included in other assets on the condensed consolidated balance sheet.

Commercial_Mortgage_Banking_Ad

Commercial Mortgage Banking - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Dec. 31, 2012
Mortgage Banking [Abstract]	'	'	'	'	'	'
Percentage of controlling interest owned by the company in OMHHF	83.68%	'	'	'	'	'
Non-controlling interest	16.32%	'	16.32%	'	'	'
Number of related party	1	'	'	'	'	'
Prepayment costs	$2,600,000	$2,800,000	$4,500,000	$13,500,000	'	'
Custodial escrow accounts	286,500,000	'	286,500,000	'	251,400,000	'
Uninsured balance relation to escrow accounts	167,700,000	'	167,700,000	'	'	'
Fair value of servicing rights	41,800,000	'	41,800,000	'	40,100,000	'
Carrying value of loan servicing rights	$29,496,000	$28,121,000	$29,496,000	$28,121,000	$28,879,000	$26,983,000
Servicing rights are amortized using straight-line method	'10 years	'	'	'	'	'

Commercial_Mortgage_Banking_Un

Commercial Mortgage Banking - Unpaid Principal Balance of Loans (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Transfers and Servicing [Abstract]	'	'
Unpaid principal balance of loans	$4,044,961	$3,885,437

Commercial_Mortgage_Banking_Su

Commercial Mortgage Banking - Summary of Changes in Carrying Value of Mortgage Servicing Rights (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013
Transfers and Servicing [Abstract]	'		'
Balance at beginning of period	$28,879		$26,983
Originations	4,252	[1]	5,668	[1]
Purchases	144		1,108
Disposals	-1,754	[1]	-4,518	[1]
Amortization expense	-2,025		-1,120
Balance at end of period	$29,496		$28,121
[1]	Includes refinancings

Commercial_Mortgage_Banking_Sc

Commercial Mortgage Banking - Schedule of Amortization Expense (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Servicing Asset at Amortized Cost [Line Items]	'	'	'	'
2014	$1,023	'	'	'
2015	4,090	'	'	'
2016	4,083	'	'	'
2017	4,070	'	'	'
2018	4,030	'	'	'
Thereafter	12,200	'	'	'
Amortization expense	29,496	28,879	28,121	26,983
Originated MSRs [Member]	'	'	'	'
Servicing Asset at Amortized Cost [Line Items]	'	'	'	'
2014	704	'	'	'
2015	2,815	'	'	'
2016	2,808	'	'	'
2017	2,802	'	'	'
2018	2,775	'	'	'
Thereafter	9,071	'	'	'
Amortization expense	20,975	'	'	'
Purchased MSRs [Member]	'	'	'	'
Servicing Asset at Amortized Cost [Line Items]	'	'	'	'
2014	319	'	'	'
2015	1,275	'	'	'
2016	1,275	'	'	'
2017	1,268	'	'	'
2018	1,255	'	'	'
Thereafter	3,129	'	'	'
Amortization expense	$8,521	'	'	'

Commercial_Mortgage_Banking_Co

Commercial Mortgage Banking - Components of Mortgage Servicing Rights Fees (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Transfers and Servicing [Abstract]	'	'	'	'
Servicing fees	$1,402	$1,287	$4,122	$3,739
Late fees	6	19	11	94
Ancillary fees	80	170	248	291
Total MSR fees	$1,488	$1,476	$4,381	$4,124

LongTerm_Debt_Schedule_of_Long

Long-Term Debt - Schedule of Long-Term Debt (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'	'
Senior secured notes	$150,000	$195,000

LongTerm_Debt_Additional_Infor

Long-Term Debt - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended			9 Months Ended
	Apr. 12, 2011	Sep. 30, 2014	Apr. 15, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Debt Instrument [Line Items]	'	'	'	'	'	'
Unamortized Debt Issuance Expense	'	$1,700,000	'	'	$1,700,000	'
Senior Secured Notes [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
Private placement date	12-Apr-11	'	'	'	'	'
Issuance of private placement, principal amount	200,000,000	'	'	'	'	'
Interest rate	8.75%	8.75%	'	'	8.75%	'
Term of payments of interest on notes	'semi-annually	'	'	'	'	'
Cost to issue the notes	4,600,000	'	'	'	'	'
Total amount of debt to be retired	'	'	50,000,000	'	'	'
Percentage of debt to be retired from the total debt	'	'	25.00%	'	'	'
Aggregate face amount of debt redeemed	'	'	45,000,000	'	'	'
Redemption price as a percentage of face amount	'	'	106.56%	'	'	'
Outstanding principal amount of the debt	'	'	150,000,000	'	'	'
Annual interest cost reduction due to retirement of debt	'	3,900,000	'	'	'	'
Interest expense on note	'	3,300,000	'	4,300,000	11,000,000	12,800,000
Senior Secured Credit Note [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
Retirement of notes, principal amount	22,400,000	'	'	'	'	'
Subordinated Note [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
Retirement of notes, principal amount	100,000,000	'	'	'	'	'
November Two Thousand Eleven Senior Notes [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
Total amount of debt to be retired	'	'	$5,000,000	'	'	'

Share_Capital_Additional_Infor

Share Capital - Additional Information (Detail) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Oct. 07, 2011	Sep. 30, 2014	Dec. 31, 2013
		Class A Stock [Member]	Class A Stock [Member]	Class A Stock [Member]	Class A Stock [Member]	Class A Stock [Member]	Class A Stock [Member]	Class A Stock [Member]	Class B Stock [Member]	Class B Stock [Member]
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'	'
Preferred stock, authorized	50,000,000	'	'	'	'	'	'	'	'	'
Preferred stock, par value	$0.00	'	'	'	'	'	'	'	'	'
Preferred stock, issued	0	'	'	'	'	'	'	'	'	'
Common stock, authorized	'	50,000,000	'	'	'	'	'	'	99,680	'
Common stock, par value	'	$0.00	'	'	'	'	'	'	$0.00	'
Common stock, issued	'	13,530,688	'	13,377,967	'	'	'	13,572,265	99,680	99,680
Common stock, outstanding	'	13,530,688	13,519,126	13,377,967	13,442,759	13,496,783	13,508,318	13,572,265	99,680	99,680
Repurchase of class A common stock	'	'	'	'	'	'	'	675,000	'	'
Percentage of repurchase of class A common stock	'	'	'	'	'	'	'	5.00%	'	'
Number of shares buy back	0	'	'	'	'	'	'	'	'	'
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	352,823	'	'	'	'	'	'	'	'	'

Share_Capital_Changes_in_Numbe

Share Capital - Changes in Number of Shares of Class A Stock Outstanding (Detail) (Class A Stock [Member])	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Mar. 31, 2014	Mar. 31, 2013	Oct. 07, 2011
Class A Stock [Member]	'	'	'	'	'	'	'
Class of Stock [Line Items]	'	'	'	'	'	'	'
Class A Stock outstanding, beginning of year	'	'	13,377,967	13,508,318	13,519,126	13,496,783	13,572,265
Issued pursuant to shared-based compensation plans	11,562	65,227	152,721	65,227	'	'	'
Class A Stock outstanding, end of year	13,530,688	13,442,759	13,530,688	13,442,759	13,519,126	13,496,783	13,572,265
Stock Repurchased and Retired During Period, Shares	'	-119,251	'	-130,786	'	'	'

Contingencies_Additional_Infor

Contingencies - Additional Information (Detail) (USD $)	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Minimum estimated range of aggregate loss for legal proceedings	$0
Maximum estimated range of aggregate loss for legal proceedings	33,000,000
Company purchased and holds auction rate securities	94,800,000
Amount of ARS committed to purchase from clients	13,100,000
Eligible investor subject to future buyback potential additional losses related to valuation adjustments	106,100,000
Period of auction rates security to be purchased from rendering of the award	'30 days
Loss Contingency Accrual	$19,700,000

Regulatory_Requirements_Additi

Regulatory Requirements - Additional Information (Detail) (USD $)	9 Months Ended	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
	Oppenheimer [Member]	Freedom [Member]	Oppenheimer Investments Asia [Member]	Oppenheimer Europe Ltd [Member]
				Basel Three New Requirements [Member]
Regulatory Capital Requirements [Line Items]	'	'	'	'
Required percentage of net capital to aggregate customer-related debit items	2.00%	'	'	'
Initial capital	$157,900,000	$4,800,000	$3,100,000	'
Actual percentage of net capital to aggregate customer-related debit items	11.80%	'	'	'
Excess capital	131,200,000	'	'	'
Freedom maintain net capital equal to the greater	'	250,000	'	'
Aggregate indebtedness	'	6.67%	'	'
Net capital in excess of minimum required	'	4,500,000	2,700,000	'
Cash and securities segregated for regulatory and other purposes	'	18,300,000	'	'
Initial required capital	'	'	$386,000	'
Common equity Tier 1 capital ratio	'	'	'	8.93%
Common equity Tier 1 required	'	'	'	4.50%
Tier 1 capital ratio	'	'	'	8.93%
Tier 1 capital ratio required	'	'	'	6.00%
Total capital ratio	'	'	'	10.38%
Total capital ratio required	'	'	'	8.00%

Segment_Information_Reported_R

Segment Information - Reported Revenue and Profit Before Income Taxes (Detail) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Revenue	'		'		'		'
Total revenue	$244,679		$243,376		$749,536		$726,352
Income (loss) before income taxes	'		'		'		'
Total income (loss) before income taxes	10,896		8,163		16,141		20,550
Private Client Division [Member]	'		'		'		'
Revenue	'		'		'		'
Total revenue	142,606	[1]	144,316	[1]	435,770	[1]	430,963	[1]
Income (loss) before income taxes	'		'		'		'
Total income (loss) before income taxes	18,898	[1]	15,088	[1]	36,766	[1]	48,113	[1]
Asset management fees	77.50%		77.50%		77.50%		77.50%
Asset Management [Member]	'		'		'		'
Revenue	'		'		'		'
Total revenue	24,801	[1]	21,488	[1]	74,443	[1]	64,450	[1]
Income (loss) before income taxes	'		'		'		'
Total income (loss) before income taxes	8,264	[1]	6,387	[1]	24,300	[1]	20,332	[1]
Asset management fees	22.50%		22.50%		22.50%		22.50%
Capital Markets [Member]	'		'		'		'
Revenue	'		'		'		'
Total revenue	71,226		68,460		221,324		201,495
Income (loss) before income taxes	'		'		'		'
Total income (loss) before income taxes	5,699		4,301		23,965		8,806
Commercial Mortgage Banking [Member]	'		'		'		'
Revenue	'		'		'		'
Total revenue	6,349		9,314		18,179		26,857
Income (loss) before income taxes	'		'		'		'
Total income (loss) before income taxes	1,815		2,823		7,269		7,977
Corporate and Other [Member]	'		'		'		'
Revenue	'		'		'		'
Total revenue	-303		-202		-180		2,587
Income (loss) before income taxes	'		'		'		'
Total income (loss) before income taxes	($23,780)		($20,436)		($76,159)		($64,678)
[1]	Asset management fees are allocated 22.5% to the Asset Management and 77.5% to the Private Client segments.

Segment_Information_Revenue_Cl

Segment Information - Revenue Classified by Major Geographic Areas (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Total revenue	$244,679	$243,376	$749,536	$726,352
United States [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Total revenue	233,846	231,777	710,198	693,251
Europe/Middle East [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Total revenue	9,106	9,210	32,983	26,930
Asia [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Total revenue	1,256	1,309	5,024	2,843
South America [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Total revenue	$471	$1,080	$1,331	$3,328

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended		0 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Aug. 01, 2014
					Subsequent Events [Member]
Subsequent Event [Line Items]	'	'	'	'	'
Date of announcement of dividend	'	'	'	'	31-Oct-14
Dividends declared per share (in dollars per share)	$0.11	$0.11	$0.33	$0.33	$0.11
Date of payment of dividend	'	'	'	'	28-Nov-14
Date of record of dividend	'	'	'	'	14-Nov-14

Condensed_Consolidating_Financ2

Condensed Consolidating Financial Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]	'
Interest owned by the holding company	100.00%

Condensed_Consolidating_Financ3

Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheet (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
ASSETS	'	'	'	'
Cash and cash equivalents	$77,942	$98,294	$105,357	$135,366
Cash and securities segregated for regulatory and other purposes	19,106	36,323	'	'
Deposits with clearing organizations	31,611	23,679	'	'
Receivable from brokers, dealers and clearing organizations	380,943	364,873	'	'
Receivable from customers, net of allowance for credit losses	883,133	868,869	'	'
Income tax receivable	7,801	6,562	'	'
Securities purchased under agreements to resell	250,000	184,825	'	'
Securities owned, including amounts pledged of $498,928 ($586,625 in 2013), at fair value	806,772	856,088	'	'
Notes receivable, net	37,673	40,751	'	'
Office facilities, net	30,518	32,939	'	'
Intangible assets	31,700	31,700	'	'
Goodwill	137,889	137,889	'	'
Loans held for sale	20,095	75,989	'	'
Mortgage servicing rights	29,496	28,879	28,121	26,983
Other assets	131,064	165,060	'	'
Total assets	2,875,743	2,952,720	'	'
Liabilities	'	'	'	'
Drafts payable	24,316	48,198	'	'
Bank call loans	135,500	118,200	'	'
Payable to brokers, dealers and clearing organizations	204,950	223,315	'	'
Payable to customers	689,363	626,564	'	'
Securities sold under agreements to repurchase	688,310	757,491	'	'
Securities sold, but not yet purchased, at fair value	128,262	76,314	'	'
Accrued compensation	138,782	180,119	'	'
Accounts payable and other liabilities	170,175	192,552	'	'
Senior secured notes	150,000	195,000	'	'
Deferred tax liabilities, net	13,519	7,096	'	'
Total liabilities	2,343,177	2,424,849	'	'
Stockholdersb equity	'	'	'	'
Stockholders' equity attributable to Oppenheimer Holdings Inc.	526,561	522,518	'	'
Non-controlling interest	6,005	5,353	'	'
Total stockholders' equity	532,566	527,871	515,273	'
Total liabilities and stockholders' equity	2,875,743	2,952,720	'	'
Eliminations [Member]	'	'	'	'
ASSETS	'	'	'	'
Income tax receivable	-45,477	-39,704	'	'
Subordinated loan receivable	-112,558	-112,558	'	'
Deferred tax assets, net	-26,432	-30,483	'	'
Investment in subsidiaries	-1,262,944	-1,274,360	'	'
Intercompany receivables	-62,703	-64,501	'	'
Total assets	-1,510,114	-1,521,606	'	'
Liabilities	'	'	'	'
Accounts payable and other liabilities	'	-88	'	'
Income tax payable	-45,477	-39,704	'	'
Subordinated indebtedness	-112,558	-112,558	'	'
Deferred tax liabilities, net	-26,432	-30,483	'	'
Intercompany payables	-62,703	-64,501	'	'
Total liabilities	-247,170	-247,334	'	'
Stockholdersb equity	'	'	'	'
Stockholders' equity attributable to Oppenheimer Holdings Inc.	-1,262,944	-1,274,272	'	'
Total stockholders' equity	-1,262,944	-1,274,272	'	'
Total liabilities and stockholders' equity	-1,510,114	-1,521,606	'	'
Parent Company [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	1,162	448	232	35
Income tax receivable	26,600	19,494	'	'
Deferred tax assets, net	21	678	'	'
Other assets	1,839	2,797	'	'
Investment in subsidiaries	561,539	546,755	'	'
Intercompany receivables	93,926	153,528	'	'
Total assets	685,087	723,700	'	'
Liabilities	'	'	'	'
Accounts payable and other liabilities	6,086	3,742	'	'
Income tax payable	2,440	2,440	'	'
Senior secured notes	150,000	195,000	'	'
Total liabilities	158,526	201,182	'	'
Stockholdersb equity	'	'	'	'
Stockholders' equity attributable to Oppenheimer Holdings Inc.	526,561	522,518	'	'
Total stockholders' equity	526,561	522,518	'	'
Total liabilities and stockholders' equity	685,087	723,700	'	'
Guarantor Subsidiaries [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	5,123	30,901	32,441	40,658
Income tax receivable	27,371	27,589	'	'
Securities owned, including amounts pledged of $498,928 ($586,625 in 2013), at fair value	5,694	2,225	'	'
Subordinated loan receivable	112,558	112,558	'	'
Office facilities, net	20,310	21,250	'	'
Deferred tax assets, net	309	309	'	'
Other assets	27,077	27,113	'	'
Investment in subsidiaries	881,012	910,230	'	'
Intercompany receivables	-19,048	-68,920	'	'
Total assets	1,060,406	1,063,255	'	'
Liabilities	'	'	'	'
Accounts payable and other liabilities	58,392	59,289	'	'
Income tax payable	22,189	22,189	'	'
Deferred tax liabilities, net	12	'	'	'
Intercompany payables	62,703	64,501	'	'
Total liabilities	143,296	145,979	'	'
Stockholdersb equity	'	'	'	'
Stockholders' equity attributable to Oppenheimer Holdings Inc.	917,110	917,276	'	'
Total stockholders' equity	917,110	917,276	'	'
Total liabilities and stockholders' equity	1,060,406	1,063,255	'	'
Non-Guarantor Subsidiaries [Member]	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	71,657	66,945	72,684	94,673
Cash and securities segregated for regulatory and other purposes	19,106	36,323	'	'
Deposits with clearing organizations	31,611	23,679	'	'
Receivable from brokers, dealers and clearing organizations	380,943	364,873	'	'
Receivable from customers, net of allowance for credit losses	883,133	868,869	'	'
Income tax receivable	-693	-817	'	'
Securities purchased under agreements to resell	250,000	184,825	'	'
Securities owned, including amounts pledged of $498,928 ($586,625 in 2013), at fair value	801,078	853,863	'	'
Notes receivable, net	37,673	40,751	'	'
Office facilities, net	10,208	11,689	'	'
Deferred tax assets, net	26,102	29,496	'	'
Intangible assets	31,700	31,700	'	'
Goodwill	137,889	137,889	'	'
Loans held for sale	20,095	75,989	'	'
Mortgage servicing rights	29,496	28,879	'	'
Other assets	102,148	135,150	'	'
Investment in subsidiaries	-179,607	-182,625	'	'
Intercompany receivables	-12,175	-20,107	'	'
Total assets	2,640,364	2,687,371	'	'
Liabilities	'	'	'	'
Drafts payable	24,316	48,198	'	'
Bank call loans	135,500	118,200	'	'
Payable to brokers, dealers and clearing organizations	204,950	223,315	'	'
Payable to customers	689,363	626,564	'	'
Securities sold under agreements to repurchase	688,310	757,491	'	'
Securities sold, but not yet purchased, at fair value	128,262	76,314	'	'
Accrued compensation	138,782	180,119	'	'
Accounts payable and other liabilities	105,697	129,609	'	'
Income tax payable	20,848	15,075	'	'
Subordinated indebtedness	112,558	112,558	'	'
Deferred tax liabilities, net	39,939	37,579	'	'
Total liabilities	2,288,525	2,325,022	'	'
Stockholdersb equity	'	'	'	'
Stockholders' equity attributable to Oppenheimer Holdings Inc.	345,834	356,996	'	'
Non-controlling interest	6,005	5,353	'	'
Total stockholders' equity	351,839	362,349	'	'
Total liabilities and stockholders' equity	$2,640,364	$2,687,371	'	'

Condensed_Consolidating_Financ4

Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheet (Parenthetical) (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Condensed Financial Information of Parent Company Only Disclosure [Abstract]	'	'
Allowance for credit losses	$2,451	$2,423
Amounts pledged	$498,928	$586,625

Condensed_Consolidating_Financ5

Condensed Consolidating Financial Information - Condensed Consolidating Statement of Operations (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUES	'	'	'	'
Commissions	$110,862	$120,252	$349,062	$364,272
Advisory fees	70,957	60,117	209,592	177,417
Investment banking	33,841	21,362	94,164	62,377
Interest	12,449	14,439	37,387	39,916
Principal transactions, net	4,272	10,347	24,883	33,596
Other	12,298	16,859	34,448	48,774
Total revenue	244,679	243,376	749,536	726,352
EXPENSES	'	'	'	'
Compensation and related expenses	161,334	161,081	493,135	480,296
Communications and technology	15,991	16,999	50,261	48,881
Occupancy and equipment costs	15,801	16,405	47,105	51,111
Clearing and exchange fees	5,969	6,099	17,885	18,434
Interest	4,127	6,164	13,703	20,169
Other	30,561	28,465	111,306	86,911
Total expenses	233,783	235,213	733,395	705,802
Income (loss) before income taxes	10,896	8,163	16,141	20,550
Income tax provision (benefit)	6,271	2,655	9,349	8,083
Net income (loss) for the period	4,625	5,508	6,792	12,467
Less net income attributable to non-controlling interests, net of tax	155	271	652	719
Net income attributable to Oppenheimer Holdings Inc.	4,470	5,237	6,140	11,748
Other comprehensive income (loss)	-1,608	656	-1,356	1,156
Comprehensive income attributable to Oppenheimer Holdings Inc.	2,862	5,893	4,784	12,904
Consolidation, Eliminations [Member]	'	'	'	'
REVENUES	'	'	'	'
Advisory fees	-321	-533	-1,002	-1,720
Interest	-2,565	-3,143	-7,861	-8,578
Other	-66	-42	-346	-126
Total revenue	-2,952	-3,718	-9,209	-10,424
EXPENSES	'	'	'	'
Occupancy and equipment costs	-66	-42	-346	-126
Interest	-2,565	-3,143	-7,861	-8,578
Other	-321	-533	-1,002	-1,720
Total expenses	-2,952	-3,718	-9,209	-10,424
Equity in subsidiaries	-6,415	-8,335	-16,139	-21,173
Net income attributable to Oppenheimer Holdings Inc.	-6,415	-8,335	-16,139	-21,173
Comprehensive income attributable to Oppenheimer Holdings Inc.	-6,415	-8,335	-16,139	-21,173
Non-Guarantor Subsidiaries [Member]	'	'	'	'
REVENUES	'	'	'	'
Interest	'	14,805	'	'
EXPENSES	'	'	'	'
Occupancy and equipment costs	'	16,447	'	'
Guarantor Subsidiaries [Member]	'	'	'	'
REVENUES	'	'	'	'
Interest	'	2,777	'	'
Parent Company [Member]	'	'	'	'
REVENUES	'	'	'	'
Interest	'	'	'	5
Total revenue	'	0	'	5
EXPENSES	'	'	'	'
Compensation and related expenses	207	207	822	902
Communications and technology	37	23	111	81
Interest	3,281	4,375	11,120	13,125
Other	235	285	4,396	1,045
Total expenses	3,760	4,890	16,449	15,153
Income (loss) before income taxes	-3,760	-4,890	-16,449	-15,148
Income tax provision (benefit)	-1,816	-1,792	-6,450	-5,723
Net income (loss) for the period	-1,944	-3,098	-9,999	-9,425
Equity in subsidiaries	6,415	8,335	16,139	21,173
Net income attributable to Oppenheimer Holdings Inc.	4,471	5,237	6,140	11,748
Other comprehensive income (loss)	'	0	'	-3
Comprehensive income attributable to Oppenheimer Holdings Inc.	4,471	5,237	6,140	11,745
Guarantor Subsidiaries [Member]	'	'	'	'
REVENUES	'	'	'	'
Interest	2,580	'	7,901	8,370
Principal transactions, net	-161	26	10	38
Other	85	42	375	126
Total revenue	2,504	2,845	8,286	8,534
EXPENSES	'	'	'	'
Interest	8	'	8	'
Other	17	4	30	23
Total expenses	25	4	38	23
Income (loss) before income taxes	2,479	2,841	8,248	8,511
Income tax provision (benefit)	1,326	1,808	2,457	3,702
Net income (loss) for the period	1,153	1,033	5,791	4,809
Net income attributable to Oppenheimer Holdings Inc.	1,153	1,033	5,791	4,809
Comprehensive income attributable to Oppenheimer Holdings Inc.	1,153	1,033	5,791	4,809
Non-Guarantor Subsidiaries [Member]	'	'	'	'
REVENUES	'	'	'	'
Commissions	110,862	120,252	349,062	364,272
Advisory fees	71,278	60,650	210,594	179,137
Investment banking	33,841	21,362	94,164	62,377
Interest	12,434	'	37,347	40,119
Principal transactions, net	4,433	10,321	24,873	33,558
Other	12,279	16,859	34,419	48,774
Total revenue	245,127	244,249	750,459	728,237
EXPENSES	'	'	'	'
Compensation and related expenses	161,127	160,874	492,313	479,394
Communications and technology	15,954	16,976	50,150	48,800
Occupancy and equipment costs	15,867	'	47,451	51,237
Clearing and exchange fees	5,969	6,099	17,885	18,434
Interest	3,403	4,932	10,436	15,622
Other	30,630	28,709	107,882	87,563
Total expenses	232,950	234,037	726,117	701,050
Income (loss) before income taxes	12,177	10,212	24,342	27,187
Income tax provision (benefit)	6,761	2,639	13,342	10,104
Net income (loss) for the period	5,416	7,573	11,000	17,083
Less net income attributable to non-controlling interests, net of tax	155	271	652	719
Net income attributable to Oppenheimer Holdings Inc.	5,261	7,302	10,348	16,364
Other comprehensive income (loss)	-1,608	656	-1,356	1,159
Comprehensive income attributable to Oppenheimer Holdings Inc.	$3,653	$7,958	$8,992	$17,523

Condensed_Consolidating_Financ6

Condensed Consolidating Financial Information - Condensed Consolidating Statement of Cash Flows (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operations:	'	'
Net income (loss) for the period	$6,792	$12,467
Adjustments to reconcile net income (loss) to net cash used in operating activities:	'	'
Depreciation and amortization of office facilities and leasehold improvements	5,787	7,434
Deferred income taxes	6,423	13,862
Amortization of notes receivable	12,393	14,086
Amortization of debt issuance costs	408	479
Write-off of debt issuance costs	588	0
Amortization of mortgage servicing rights	2,025	1,120
Provision for credit losses	28	178
Share-based compensation expense	3,682	3,966
Payment of taxes due for share-based awards	-2,074	0
Changes in operating assets and liabilities	-22,315	-30,644
Cash provided by operating activities	13,737	22,948
Cash flows from investing activities	'	'
Purchase of office facilities	-3,366	-12,642
Cash used in investing activities	-3,366	-12,642
Cash flows from investing activities	'	'
Cash dividends paid on Class A non-voting and Class B voting common stock	-4,483	-4,494
Repurchase of Class A non-voting common stock for cancellation	0	-2,314
Issuance of Class A non-voting common stock	185	85
Tax benefit (deficiency) from share-based awards	1,275	-92
Redemption of senior secured notes	-45,000	0
Other financing activities	17,300	-33,500
Cash flow provided by (used in) financing activities	-30,723	-40,315
Net increase (decrease) in cash and cash equivalents	-20,352	-30,009
Cash and cash equivalents, beginning of period	98,294	135,366
Cash and cash equivalents, end of period	77,942	105,357
Guarantor Subsidiaries [Member]	'	'
Cash flows from operations:	'	'
Net income (loss) for the period	5,791	4,809
Adjustments to reconcile net income (loss) to net cash used in operating activities:	'	'
Changes in operating assets and liabilities	-31,569	-13,026
Cash provided by operating activities	-25,778	-8,217
Cash flows from investing activities	'	'
Net increase (decrease) in cash and cash equivalents	-25,778	-8,217
Cash and cash equivalents, beginning of period	30,901	40,658
Cash and cash equivalents, end of period	5,123	32,441
Non-Guarantor Subsidiaries [Member]	'	'
Cash flows from operations:	'	'
Net income (loss) for the period	11,000	17,083
Adjustments to reconcile net income (loss) to net cash used in operating activities:	'	'
Depreciation and amortization of office facilities and leasehold improvements	5,787	7,434
Deferred income taxes	6,423	13,862
Amortization of notes receivable	12,393	14,086
Write-off of debt issuance costs	0	'
Amortization of mortgage servicing rights	2,025	1,120
Provision for credit losses	28	178
Share-based compensation expense	3,391	3,966
Changes in operating assets and liabilities	-50,269	-33,576
Cash provided by operating activities	-9,222	24,153
Cash flows from investing activities	'	'
Purchase of office facilities	-3,366	-12,642
Cash used in investing activities	-3,366	-12,642
Cash flows from investing activities	'	'
Other financing activities	17,300	-33,500
Cash flow provided by (used in) financing activities	17,300	-33,500
Net increase (decrease) in cash and cash equivalents	4,712	-21,989
Cash and cash equivalents, beginning of period	66,945	94,673
Cash and cash equivalents, end of period	71,657	72,684
Parent Company [Member]	'	'
Cash flows from operations:	'	'
Net income (loss) for the period	-9,999	-9,425
Adjustments to reconcile net income (loss) to net cash used in operating activities:	'	'
Amortization of debt issuance costs	408	479
Write-off of debt issuance costs	588	'
Share-based compensation expense	291	'
Payment of taxes due for share-based awards	-2,074	'
Changes in operating assets and liabilities	59,523	15,958
Cash provided by operating activities	48,737	7,012
Cash flows from investing activities	'	'
Cash dividends paid on Class A non-voting and Class B voting common stock	-4,483	-4,494
Repurchase of Class A non-voting common stock for cancellation	'	-2,314
Issuance of Class A non-voting common stock	185	85
Tax benefit (deficiency) from share-based awards	1,275	-92
Redemption of senior secured notes	-45,000	'
Cash flow provided by (used in) financing activities	-48,023	-6,815
Net increase (decrease) in cash and cash equivalents	714	197
Cash and cash equivalents, beginning of period	448	35
Cash and cash equivalents, end of period	$1,162	$232