Oppenheimer (OPY) 10-K 6 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Jun. 30, 2014	Feb. 27, 2015
Document Information [Line Items]
Entity Registrant Name	OPPENHEIMER HOLDINGS INC
Entity Central Index Key	791963
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Document Type	10-K
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Amendment Flag	FALSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float		$324.30
Class A Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding			13,634,196
Class B Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding			99,680

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS
Cash and cash equivalents	$63,807	$98,294
Cash and securities segregated for regulatory and other purposes	18,594	36,323
Deposits with clearing organizations	36,510	23,679
Receivable from brokers, dealers and clearing organizations	314,475	364,873
Receivable from customers, net of allowance for credit losses of $2,427 ($2,423 in 2013)	864,189	868,869
Income tax receivable	4,240	6,562
Securities purchased under agreements to resell	251,606	184,825
Securities owned, including amounts pledged of $518,123 ($586,625 in 2013), at fair value	843,155	856,088
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $42,211 and $8,606, respectively ($54,465 and $9,718, respectively, in 2013)	34,932	40,751
Office facilities, net of accumulated depreciation of $103,547 ($97,118 in 2013)	29,589	32,939
Loans held for sale	19,243	75,989
Mortgage servicing rights	30,140	28,879
Intangible assets	31,700	31,700
Goodwill	137,889	137,889
Other assets	107,386	165,060
Total assets	2,787,455	2,952,720
Liabilities
Drafts payable	35,373	48,198
Bank call loans	59,400	118,200
Payable to brokers, dealers and clearing organizations	257,161	223,315
Payable to customers	652,256	626,564
Securities sold under agreements to repurchase	687,440	757,491
Securities sold, but not yet purchased, at fair value	92,510	76,314
Accrued compensation	165,134	180,119
Accounts payable and other liabilities	141,352	192,552
Senior secured notes	150,000	195,000
Deferred tax liabilities, net of deferred tax assets of $68,622 ($69,805 in 2013)	13,097	7,096
Total liabilities	2,253,723	2,424,849
Commitments and contingencies (Note 16)
Share capital
Common stock	62,397	60,198
Contributed capital	45,118	42,407
Retained earnings	421,047	418,204
Accumulated other comprehensive (loss) income	-918	1,709
Total Oppenheimer Holdings Inc. stockholders’ equity	527,644	522,518
Non-controlling interest	6,088	5,353
Total stockholders’ equity	533,732	527,871
Total liabilities and stockholders’ equity	2,787,455	2,952,720
Class A Stock
Share capital
Common stock	62,264	60,065
Class B Stock
Share capital
Common stock	$133	$133

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 07, 2011
In Thousands, except Share data, unless otherwise specified
Allowance for credit losses	$2,427	$2,423
Amounts pledged	518,123	586,625
Net accumulated depreciation	103,547	97,118
Net Deferred Tax Assets	68,622	69,805
Notes Receivable, Net Accumulated Amortization	42,211	54,465
Notes Receivable, Net Allowance for Uncollectibles	$8,606	$9,718
Class A Stock
Common stock, authorized	50,000,000	50,000,000
Common stock, shares issued	13,530,688	13,377,967		13,572,265
Common stock, shares outstanding	13,530,688	13,377,967	13,508,318
Common stock, par value	$0.00	$0.00
Class B Stock
Common stock, authorized	99,680
Common stock, shares issued	99,680	99,680
Common stock, shares outstanding	99,680	99,680
Common stock, par value	$0.00	$0.00

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
REVENUE
Commissions									$469,829	$486,767	$469,865
Advisory fees									281,680	274,178	222,732
Investment banking									125,598	97,977	89,477
Interest									49,244	53,216	57,662
Principal transactions, net									29,699	43,768	54,311
Other									48,414	63,808	58,565
Total revenue	254,928	244,679	249,689	255,168	293,362	243,376	243,830	239,146	1,004,464	1,019,714	952,612
EXPENSES
Compensation and related expenses									664,641	675,936	626,411
Communications and technology									67,170	65,817	63,359
Occupancy and equipment costs									63,012	66,758	62,818
Clearing and exchange fees									24,709	24,481	23,750
Interest									17,801	26,142	35,086
Other									141,395	116,671	141,715
Total expenses									978,728	975,805	953,139
Income (loss) before income taxes	9,595	10,896	136	5,109	23,359	8,163	5,674	6,713	25,736	43,909	-527
Income tax provision									16,175	17,756	324
Net income (loss) for the year									9,561	26,153	-851
Less net income attributable to non-controlling interest									735	1,092	2,762
Net income (loss) attributable to Oppenheimer Holdings Inc.	$2,686	$4,470	($1,554)	$3,224	$13,313	$5,237	$2,848	$3,663	$8,826	$25,061	($3,613)
Earnings (loss) per share attributable to Oppenheimer Holdings Inc.
Basic, dollars per share	$0.20	$0.33	($0.11)	$0.24	$0.99	$0.38	$0.21	$0.27	$0.65	$1.85	($0.27)
Diluted, dollars per share	$0.19	$0.31	($0.11)	$0.23	$0.94	$0.37	$0.20	$0.26	$0.62	$1.77	($0.27)
Weighted average shares
Basic									13,604,258	13,577,725	13,602,205
Diluted									14,250,663	14,124,060	13,602,205

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net income (loss) for the year	$9,561		$26,153		($851)
Other comprehensive income (loss), net of tax
Currency translation adjustment	-2,627	[1]	1,502	[1]	415	[1]
Comprehensive income (loss) for the year	6,934		27,655		-436
Net income attributable to non-controlling interests	735		1,092		2,762
Total comprehensive income	$6,199		$26,563		($3,198)
[1]	Total other comprehensive (loss) income is attributable to Oppenheimer Holdings Inc. No other comprehensive income (loss) is attributable to non-controlling interests.

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Stockholders' Equity (USD $)	Total		Share Capital	Share Capital	Contributed Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Parent	Non-Controlling Interest
In Thousands, unless otherwise specified				Class A Stock
Balance at beginning of year at Dec. 31, 2011			$62,726		$36,832	$408,720	($208)		$5,333
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock				1,321
Repurchase of Class A non-voting common stock for cancellation				-1,866
Tax benefit (deficiency) from share-based awards					-720
Share-based expense					3,601
Vested employee share plan awards					-1,316
Acquisition of non-controlling interest					834				-3,834
Net income (loss)	-851					-3,613		-3,613	2,762
Dividends paid ($0.44 per share for the years 2012, 2013 & 2014)						-5,986
Currency translation adjustment	415	[1]					415
Balance at end of year at Dec. 31, 2012	505,001		62,181		39,231	399,121	207	500,740	4,261
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock				1,642
Repurchase of Class A non-voting common stock for cancellation				-3,625
Tax benefit (deficiency) from share-based awards					-78
Share-based expense					5,145
Vested employee share plan awards					-1,891
Acquisition of non-controlling interest					0				0
Net income (loss)	26,153					25,061		25,061	1,092
Dividends paid ($0.44 per share for the years 2012, 2013 & 2014)						-5,978
Currency translation adjustment	1,502	[1]					1,502
Balance at end of year at Dec. 31, 2013	527,871		60,198		42,407	418,204	1,709	522,518	5,353
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock				2,199
Repurchase of Class A non-voting common stock for cancellation				0
Tax benefit (deficiency) from share-based awards					1,194
Share-based expense					5,694
Vested employee share plan awards					-4,177
Acquisition of non-controlling interest					0				0
Net income (loss)	9,561					8,826		8,826	735
Dividends paid ($0.44 per share for the years 2012, 2013 & 2014)						-5,983
Currency translation adjustment	-2,627	[1]					-2,627
Balance at end of year at Dec. 31, 2014	$533,732		$62,397		$45,118	$421,047	($918)	$527,644	$6,088
[1]	Total other comprehensive (loss) income is attributable to Oppenheimer Holdings Inc. No other comprehensive income (loss) is attributable to non-controlling interests.

Consolidated_Statements_of_Cha1

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Dividends	$0.44	$0.44
Retained Earnings
Dividends	$0.44	$0.44	$0.44

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net income (loss) for the year	$9,561	$26,153	($851)
Payment of taxes due for share-based awards	-2,074	0	0
Non-cash items included in net income:
Depreciation and amortization of office facilities and leasehold improvements	7,748	9,405	10,466
Deferred income taxes	6,001	23,436	-26,642
Amortization of notes receivable	16,043	18,762	19,515
Amortization of debt issuance costs	530	639	639
Write-off of debt issuance costs	588	0	0
Amortization of intangible assets	0	0	3,889
Amortization of mortgage servicing rights	2,819	1,881	3,200
Provision for (reversal of) credit losses	4	167	-292
Share-based compensation	6,074	9,249	4,191
Reduction of excess of fair value of acquired assets over cost	0	0	-7,020
Decrease (increase) in operating assets:
Cash and securities segregated for regulatory and other purposes	17,729	-3,323	-2,914
Deposits with clearing organizations	-12,831	2,275	9,862
Receivable from brokers, dealers and clearing organizations	50,398	114,826	-191,586
Receivable from customers	4,676	-51,095	20,173
Income tax receivable	2,322	-6,111	6,292
Securities purchased under agreements to resell	-66,781	-184,825	847,688
Securities owned	12,933	-96,346	164,799
Notes receivable	-10,224	-12,189	-12,795
Loans held for sale	56,746	-53,115	86,382
Mortgage servicing rights	-4,080	-3,777	-7,388
Other assets	53,929	-49,772	-11,980
Increase (decrease) in operating liabilities:
Drafts payable	-12,825	-8,388	4,738
Payable to brokers, dealers and clearing organizations	33,846	19,097	-131,392
Payable to customers	25,692	-65,814	212,482
Securities sold under agreements to repurchase	-70,051	365,100	-1,116,102
Securities sold, but not yet purchased	16,196	-97,136	104,035
Accrued compensation	-15,365	25,581	5,566
Accounts payable and other liabilities	-51,289	11,891	-4,407
Cash provided by (used in) operating activities	78,315	-3,429	-9,452
Cash flows from investing activities
Purchase of office facilities	-4,398	-14,012	-14,739
Cash used in investing activities	-4,398	-14,012	-14,739
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	-5,983	-5,978	-5,986
Issuance of Class A non-voting common stock	185	150	0
Repurchase of Class A non-voting common stock for cancellation	0	-3,625	-1,866
Tax benefit (deficiency) from share-based awards	1,194	-78	-720
Redemption of senior secured notes	-45,000	0	0
Acquisition of non-controlling interest	0	0	-3,000
(Decrease) increase in bank call loans, net	-58,800	-10,100	100,800
Cash (used in) provided by financing activities	-108,404	-19,631	89,228
Net (decrease) increase in cash and cash equivalents	-34,487	-37,072	65,037
Cash and cash equivalents, beginning of year	98,294	135,366	70,329
Cash and cash equivalents, end of year	63,807	98,294	135,366
Schedule of non-cash financing activities
Employee share plan issuance	2,014	1,492	1,321
Supplemental disclosure of cash flow information
Cash paid during the year for interest	18,784	26,492	38,692
Cash paid during the year for income taxes, net of refunds	$7,590	$4,509	$14,254

Organization

Organization	12 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	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 Company engages in a broad range of activities in the financial services industry, including retail securities brokerage, institutional sales and trading, investment banking (both corporate and public finance), research, market-making, trust services, mortgage banking and investment advisory and asset management services.
	The principal subsidiaries of OPY are Oppenheimer & Co. Inc. (“Oppenheimer”), a registered broker dealer in securities, Oppenheimer Asset Management Inc. (“OAM”) and its wholly-owned subsidiary, Oppenheimer Investment Management LLC (“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 92 offices in 24 states located throughout the United States and in 6 foreign jurisdictions. Oppenheimer owns Freedom Investments, Inc. (“Freedom”), a registered broker dealer in securities, which provides discount brokerage 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.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of significant accounting policies
	Basis of Presentation
	The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America for purpose of inclusion in the Company’s Annual Report on Form 10-K and in its annual report to stockholders. Intercompany transactions and balances have been eliminated in the preparation of the consolidated financial statements.
	Accounting standards require the Company to present non-controlling interests as a separate component of stockholders’ equity on the Company’s consolidated balance sheet. On September 28, 2012, the Company purchased additional shares of OMHHF for $3.0 million, representing 16.32% of OMHHF. As of December 31, 2014, the Company owned 83.68% of OMHHF and the non-controlling interest recorded in the consolidated balance sheet was $6.1 million.
	Use of Estimates
	The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods.
	In presenting the consolidated financial statements, management makes estimates regarding valuations of financial instruments, loans and allowances for credit losses, the outcome of legal and regulatory matters, goodwill and other intangible assets, stock-based compensation plans, mortgage servicing rights, and income taxes. Estimates, by their nature, are based on judgment and available information. Therefore, actual results could be materially different from these estimates. A discussion of certain areas in which estimates are a significant component of the amounts reported in the consolidated financial statements follows.
	Financial Instruments and Fair Value
	Financial Instruments
	Securities owned, 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.
	Fair Value Measurements
	The Company adopted the accounting guidance for the fair value measurement of financial assets, which defines fair value, establishes a framework for measuring fair value, establishes a fair value measurement hierarchy, and expands fair value measurement disclosures. Fair value, as defined by the accounting guidance, is the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy established by this accounting guidance prioritizes the inputs used in valuation techniques into the following three categories (highest to lowest priority):
	Level 1:	Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets;
	Level 2:	Inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly; and
	Level 3:	Unobservable inputs that are significant to the overall fair value measurement.
	The Company’s financial instruments that are recorded at fair value generally are classified within Level 1 or Level 2 within the fair value hierarchy using quoted market prices or quotes from market makers or broker-dealers. Financial instruments classified within Level 1 are valued based on quoted market prices in active markets and consist of U.S. government, federal agency, and sovereign government obligations, corporate equities, and certain money market instruments. Level 2 financial instruments primarily consist of investment grade and high-yield corporate debt, convertible bonds, mortgage and asset-backed securities, municipal obligations, and certain money market instruments. Financial instruments classified as Level 2 are valued based on quoted prices for similar assets and liabilities in active markets and quoted prices for identical or similar assets and liabilities in markets that are not active. Some financial instruments are classified within Level 3 within the fair value hierarchy as observable pricing inputs are not available due to limited market activity for the asset or liability. Such financial instruments include investments in hedge funds and private equity funds where the Company, through its subsidiaries, is general partner; less-liquid private label mortgage and asset-backed securities; certain distressed municipal securities; interest rate lock commitments where OMHHF enters into contractual commitments to originate (purchase) and sell multifamily mortgage loans at fixed prices with fixed expiration dates; and auction rate securities (“ARS”).
	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.
	Consolidation
	The Company consolidates all subsidiaries in which it has a controlling financial interest, as well as any variable interest entities (“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. Accounting Standards Update (“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.
	Financing Receivables
	The Company’s financing receivables include customer margin loans, reverse repurchase agreements, and securities borrowed transactions. The Company uses financing receivables to extend margin loans to customers, meet trade settlement requirements, and facilitate its matched-book arrangements and inventory requirements.
	Allowance for Credit Losses
	The Company’s financing receivables are secured by collateral received from clients and counterparties. In many cases, the Company is permitted to sell or re-pledge securities held as collateral. These securities may be used to collateralize repurchase agreements, to enter into securities lending agreements, to cover short positions or fulfill the obligation of fails to deliver. The Company monitors the market value of the collateral received on a daily basis and may require clients and counterparties to deposit additional collateral or return collateral pledged, when appropriate.
	Customer receivables, primarily consisting of customer margin loans collateralized by customer-owned securities, are stated net of allowance for credit losses. The Company reviews large customer accounts that do not comply with the Company’s margin requirements on a case-by-case basis to determine the likelihood of collection and records an allowance for credit loss following that process. For small customer accounts that do not comply with the Company’s margin requirements, the allowance for credit loss is generally recorded as the amount of unsecured or partially secured receivables.
	The Company also makes loans to financial advisers as part of its hiring process. These loans are recorded as notes receivable on its consolidated balance sheet. Reserves are established on these loans if the financial adviser is no longer associated with the Company and the loan has not been promptly repaid.
	Legal and Regulatory Reserves
	The Company records reserves related to legal and regulatory proceedings in accounts payable and other liabilities. The determination of the amounts of these reserves requires significant judgment on the part of management. In accordance with applicable accounting guidance, the Company establishes reserves for litigation and regulatory matters where available information indicates that it is probable a liability had been incurred at the date of the consolidated financial statements and the Company can reasonably estimate the amount of that loss. When loss contingencies are not probable and cannot be reasonably estimated, the Company does not establish reserves.
	When determining whether to record a reserve, management considers many factors including, but not limited to, the amount of the claim; the stage and forum of the proceeding, the sophistication of the claimant, the amount of the loss, if any, in the client’s account and the possibility of wrongdoing, if any, on the part of an employee of the Company; the basis and validity of the claim; previous results in similar cases; and applicable legal precedents and case law. Each legal and regulatory proceeding is reviewed with counsel in each accounting period and the reserve is adjusted as deemed appropriate by management. Any change in the reserve amount is recorded in the results of that period. The assumptions of management in determining the estimates of reserves may be incorrect and the actual disposition of a legal or regulatory proceeding could be greater or less than the reserve amount.
	Goodwill
	The Company defines a reporting unit as an operating segment. The Company’s goodwill resides in its Private Client Division (“PCD”) reporting unit. Goodwill of a reporting unit is subject to at least an annual test for impairment to determine if the estimated fair value of a reporting unit is less than its carrying amount. Goodwill of a reporting unit is required to be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Due to the volatility in the financial services sector and equity markets in general, determining whether an impairment of goodwill has occurred is increasingly difficult and requires management to exercise significant judgment. The Company’s goodwill impairment analysis performed at December 31, 2014 applied the same valuation methodologies with consistent inputs as that performed at December 31, 2013, as follows:
	In estimating the fair value of the PCD, the Company uses traditional standard valuation methods, including the market comparable approach and income approach. The market comparable approach is based on comparisons of the subject company to public companies whose stocks are actively traded (“Price Multiples”) or to similar companies engaged in an actual merger or acquisition (“Precedent Transactions”). As part of this process, multiples of value relative to financial variables, such as earnings or stockholders’ equity, are developed and applied to the appropriate financial variables of the subject company to indicate its value. The income approach involves estimating the present value of the subject company’s future cash flows by using projections of the cash flows that the business is expected to generate, and discounting these cash flows at a given rate of return (“Discounted Cash Flow” or “DCF”). Each of these standard valuation methodologies requires the use of management estimates and assumptions.
	In its Price Multiples valuation analysis, the Company uses various operating metrics of comparable companies, including revenues, after-tax earnings, EBITDA as well as price-to-book value ratios at a point in time. The Company analyzes prices paid in Precedent Transactions that are comparable to the business conducted in the PCD. The DCF analysis includes the Company’s assumptions regarding discount rate, growth rates of the PCD’s revenues, expenses, EBITDA, and capital expenditures, adjusted for current economic conditions and expectations. The Company weighs each of the three valuation methods equally in its overall valuation. Given the subjectivity involved in selecting which valuation method to use, the corresponding weightings, and the input variables for use in the analyses, it is possible that a different valuation model and the selection of different input variables could produce a materially different estimate of the fair value of the PCD reporting unit.
	At each annual goodwill impairment testing date, the PCD reporting unit had a fair value that was substantially in excess of its carrying value. See Note 18 for further discussion.
	Intangible Assets
	Indefinite intangible assets are comprised of trademarks and trade names. Trademarks and trade names, carried at $31.7 million, which are not amortized, are subject to at least an annual test for impairment to determine if the estimated fair value is less than their carrying amount. See Note 18 for further discussion.
	Share-Based Compensation Plans
	As part of the compensation to employees and directors, the Company uses stock-based compensation, consisting of restricted stock, stock options and stock appreciation rights. In accordance with ASC Topic 718, “Compensation - Stock Compensation,” the Company classifies the stock options and restricted stock awards as equity awards, which requires the compensation cost to be recognized on the consolidated statements of operations at grant date fair value. The fair value of restricted stock awards is determined based on the grant date closing price of the Company’s Class A Stock adjusted for the present value of the dividend. The fair value of stock options is determined using the Black-Scholes model using a forfeiture rate based on historical results. Key assumptions used to estimate the fair value include the expected term and the expected volatility of the Company’s Class A Stock over the term of the award, the risk-free interest rate over the expected term, and the Company’s expected annual dividend yield. Compensation expense related to these awards is amortized over the service period of the award, net of estimated forfeitures.
	The Company classifies stock appreciation rights ("OARs") as liability awards, which requires the fair value to be remeasured at each reporting period until the award vests. The fair value of OARs is determined using the Black-Scholes model at the end of each reporting period. The adjusted liability is amortized on a straight-line basis over the vesting period.
	Mortgage Servicing Rights
	The Company’s Mortgage Servicing Rights (“MSRs”) assets are initially measured and recorded at fair value based on the present value of future net servicing income adjusted for factors such as discount rate and prepayment speeds. After initial measurement, MSRs are amortized over a ten year period. 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.
	Revenue Recognition
	Brokerage
	Customers’ securities and commodities transactions are reported on a settlement date basis, which is generally three business days after trade date for securities transactions and one day for commodities transactions. Related commission income and expense is recorded on a trade date basis.
	Principal Transactions
	Transactions in proprietary securities and related revenue and expenses are recorded on a trade date basis. Securities owned and securities sold, but not yet purchased, are reported at fair value generally based upon quoted prices. Realized and unrealized changes in fair value are recognized in principal transactions, net in the period in which the change occurs.
	Investment Banking Fees
	Underwriting revenues and advisory fees from mergers, acquisitions and restructuring transactions are recorded when services for the transactions are completed and income is reasonably determinable, generally as set forth under the terms of the engagement. Transaction-related expenses, primarily consisting of legal, travel and other costs directly associated with the transaction, are deferred and recognized in the same period as the related investment banking transaction revenue. Underwriting revenues are presented net of related expenses. Non-reimbursable expenses associated with advisory transactions are recorded within other expenses.
	Interest
	Interest revenue represents interest earned on margin debit balances, securities borrowed transactions, reverse repurchase agreements, fixed income securities, firm investments, and cash and cash equivalents. Interest revenue is recognized in the period earned based upon average or daily asset balances, contractual cash flows, and interest rates.
	Asset Management
	Asset management fees are generally recognized over the period the related service is provided based on the account value at the valuation date per the respective asset management agreements. In certain circumstances, OAM is entitled to receive performance (or incentive) fees when the return on assets under management (“AUM”) exceeds certain benchmark returns or other performance targets. Performance fees are generally based on investment performance over a 12-month period and are not subject to adjustment once the measurement period ends. Such fees are computed as at the fund’s year-end when the measurement period ends and generally are recorded as earned in the fourth quarter of the Company’s fiscal year. Asset management fees and performance fees are included in advisory fees in the consolidated statements of operations. Assets under management are not included as assets of the Company.
	Balance Sheet
	Cash and Cash Equivalents
	The Company defines cash equivalents as highly liquid investments with original maturities of less than 90 days that are not held for sale in the ordinary course of business.
	Receivables from / Payables to Brokers, Dealers and Clearing Organizations
	Securities borrowed and securities loaned are carried at the amounts of cash collateral advanced or received. Securities borrowed transactions require the Company to deposit cash or other collateral with the lender. The Company receives cash or collateral in an amount generally in excess of the market value of securities loaned. The Company monitors the market value of securities borrowed and loaned on a daily basis and may require counterparties to deposit additional collateral or return collateral pledged, when appropriate.
	Securities failed to deliver and receive represent the contract value of securities which have not been received or delivered by settlement date.
	Securities Purchased under Agreements to Resell and Securities Sold under Agreements to Repurchase
	Reverse repurchase agreements and repurchase agreements are treated as collateralized financing transactions and are recorded at their contractual amounts plus accrued interest. The resulting interest income and expense for these arrangements are included in interest income and interest expense in the consolidated statements of operations. The Company can present the reverse repurchase and repurchase transactions on a net-by-counterparty basis when the specific offsetting requirements are satisfied.
	Notes Receivable
	Notes receivable represent recruiting and retention payments generally in the form of upfront loans to financial advisers and key revenue producers as part of the Company’s overall growth strategy. These loans are generally forgiven and amortized over a service period of 3 to 5 years from the initial date of the loan or based on productivity levels of employees and all such notes are contingent on the employees’ continued employment with the Company. The unforgiven portion of the notes becomes due on demand in the event the employee departs during the service period. Amortization of notes receivable is included in the consolidated statements of operations in compensation and related expenses.
	Office Facilities
	Office facilities are stated at cost less accumulated depreciation. Depreciation of furniture, fixtures, and equipment is provided on a straight-line basis generally over 3-7 years. Leasehold improvements are amortized on a straight-line basis over the shorter of the life of the improvement or the remaining term of the lease. Leases with escalating rents are expensed on a straight-line basis over the life of the lease. Landlord incentives are recorded as deferred rent and amortized, as reductions to lease expense, on a straight-line basis over the life of the applicable lease. Deferred rent is included in accounts payable and other liabilities in the consolidated balance sheet.
Drafts Payable
Drafts payable represent amounts drawn by the Company against a bank.
Foreign Currency Translations
Foreign currency balances have been translated into U.S. dollars as follows: monetary assets and liabilities at exchange rates prevailing at period end; revenue and expenses at average rates for the period; and non-monetary assets and stockholders’ equity at historical rates. The functional currency of the overseas operations is the local currency in each location except for Oppenheimer Europe Ltd. and Oppenheimer Investments Asia Limited which have the U.S. dollar as their functional currency.
Income Taxes
The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.
The Company recognizes deferred tax assets to the extent it believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and the results of recent operations.
The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) it determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.
The Company records interest and penalties accruing on unrecognized tax benefits in income (loss) before income taxes as interest expense and other expense, respectively, in its consolidated statement of operations.
The Company permanently reinvests eligible earnings of its foreign subsidiaries and, accordingly, does not accrue any U.S. income taxes that would arise if such earnings were repatriated.
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 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 or tax credit 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 consolidated financial statements.
In November 2014, the FASB issued ASU No. 2014-17 "Business Combination - Pushdown Accounting." The ASU gives the acquired entity the option of applying pushdown accounting in its stand-alone financial statements upon a change-in-control event. The ASU became effective upon issuance. The adoption of this accounting guidance did not have a material impact on the Company’s 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 consolidated financial statements.
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 consolidated financial statements.
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 consolidated financial statements.
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 consolidated financial statements.
In August 2014, the FASB issued ASU No. 2014-15, "Disclosure of Uncertainties 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.
In January 2015, the FASB issued ASU No. 2015-01, "Income Statement - Extraordinary and Unusual Items," to simplify income statement classification by removing the concept of extraordinary items. Under the existing guidance, an entity is required to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is of an unusual nature and occurs infrequently. This separate, net-of-tax presentation (and corresponding earnings per share impact) will no longer be allowed. However, the existing requirement to separately present items that are of an unusual nature or occur infrequently on a pre-tax basis within income from continuing operations has been retained. The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2015. Early adoption is permitted, but only as of the beginning of the fiscal year of adoption. Upon adoption, a reporting entity may elect prospective or retrospective application. If adopted prospectively, both the nature and amount of any subsequent adjustments to previously reported extraordinary items must be disclosed. The Company will not early adopt this ASU. The Company is currently evaluating the impact, if any, that the ASU will have on its consolidated financial statements.
In February 2015, the FASB issued ASU No. 2015-02, "Consolidation - Amendments to the Consolidation Analysis," to eliminate the deferral of the application of the revised consolidation rules and make changes to both the variable interest model and the voting model. Under this ASU, a general partner will not consolidate a partnership or similar entity under the voting model. 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 is currently evaluating the impact, if any, that the ASU will have on its consolidated financial statements.

Cash_and_Securities_Segregated

Cash and Securities Segregated for Regulatory and Other Purposes	12 Months Ended
	Dec. 31, 2014
Brokers and Dealers [Abstract]
Cash and Securities Segregated for Regulatory and Other Purposes	Cash and securities segregated for regulatory and other purposes
	Deposits of $17.7 million were held at year-end in special reserve bank accounts for the exclusive benefit of customers in accordance with regulatory requirements at December 31, 2014 ($35.5 million at December 31, 2013). To the extent permitted, these deposits are invested in interest bearing accounts collateralized by qualified securities.

Receivable_From_and_Payable_to

Receivable From and Payable to Brokers, Dealers and Clearing Organizations	12 Months Ended
	Dec. 31, 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 December 31,
		2014		2013
	Receivable from brokers, dealers and clearing organizations consist of:
	Securities borrowed	$	242,172	$	274,127
	Receivable from brokers	38,149		23,384
	Securities failed to deliver	11,055		9,628
	Clearing organizations	21,106		26,446
	Omnibus accounts	—		18,086
	Other	1,993		13,202
	Total	$	314,475	$	364,873
	Payable to brokers, dealers and clearing organizations consist of:
	Securities loaned	$	137,892	$	211,621
	Securities failed to receive	23,573		5,346
	Clearing organizations and other	95,696		6,348
	Total	$	257,161	$	223,315

Fair_value_measurements

Fair value measurements	12 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements
	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 December 31,
		2014								2013
		Owned				Sold				Owned			Sold
	U.S. Government, agency and sovereign obligations	$	570,607			$	30,615			$	596,114		$	11,889
	Corporate debt and other obligations	19,795				2,646				14,673			4,847
	Mortgage and other asset-backed securities	6,689				255				3,395			7
	Municipal obligations	60,833				51				40,166			72
	Convertible bonds	49,813				11,369				53,719			13,922
	Corporate equities	42,751				47,574				61,634			45,336
	Money markets	1,245				—				1,263			241
	Auction rate securities	91,422				—				85,124			—
	Total	$	843,155			$	92,510			$	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 December 31, 2014 are corporate equities with estimated fair values of approximately $15.7 million ($15.3 million at December 31, 2013), which are related to deferred compensation liabilities to certain employees included in accrued compensation on the 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 (see key assumptions used in determining mortgage servicing rights below) 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 and sell the loan to an investor. This commitment asset 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 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. The loan participation certificates 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 rate (“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 loans 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
	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 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 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 Regulators and client related legal settlements and awards to purchase ARS, as of December 31, 2014, the Company purchased and holds (net of redemptions) approximately $98.6 million in ARS from its clients. In addition, the Company is committed to purchase another $12.2 million in ARS from clients through 2016 under legal settlements and awards. See Note 16 for further discussion.
	The Company also held $150,000 in ARS in its proprietary trading account as of December 31, 2014 as a result of the failed auctions in February 2008. 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.
	The Company has recorded a valuation adjustment on its ARS owned and ARS purchase commitments of $8.0 million as of December 31, 2014. The valuation adjustment is comprised of $7.1 million which represents the difference between the principal value and the fair value of the ARS the Company owns as of December 31, 2014 and $902,000 which represents the difference between the principal value and the fair value of the ARS the Company is committed to purchase under the settlements with the Regulators and legal settlements and awards.
	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 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.
	The ARS purchase commitment, or derivative liability, arises from both the settlements with 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 December 31, 2014
	Product		Principal				Valuation				Fair			Valuation		Unobservable		Range		Weighted
							Adjustment				Value			Technique		Input				Average
	Auction Rate Securities Owned (1)
	Auction Rate Preferred Securities		$	77,025			$	4,339			$	72,686		Discounted Cash Flow		Discount Rate (2)		1.50% to 2.04%		1.78%
																Duration		4.0 Years		4.0 Years
																Current Yield (3)		0.012% to 0.48%		0.30%
	Municipal Auction Rate Securities		11,475				1,157				10,318			Discounted Cash Flow		Discount Rate (4)		2.64%		2.64%
															Duration		4.5 Years		4.5 Years
															Current Yield (3)		0.23%		0.23%
		5,975				627				5,348			Secondary Market Trading Activity		Observable trades in inactive market for in-portfolio securities		89.50% of par		89.50% of par
Student Loan Auction Rate Securities		450				66				384			Discounted Cash Flow		Discount Rate (5)		3.17%		3.17%
															Duration		7.0 Years		7.0 Years
															Current Yield (3)		0.79%		0.79%
Other (7)		3,625				939				2,686			Secondary Market Trading Activity		Observable trades in inactive market for in portfolio securities		74.11% of par		74.11% of par
		$	98,550			$	7,128			$	91,422
Auction Rate Securities Commitments to Purchase (6)
Auction Rate Preferred Securities		$	7,626			$	410			$	7,216		Discounted Cash Flow		Discount Rate (2)		1.50% to 2.04%		1.78%
															Duration		4.0 Years		4.0 Years
															Current Yield (3)		0.12% to 0.48%		0.30%
Municipal Auction Rate Securities		4,065				410				3,655			Discounted Cash Flow		Discount Rate (4)		2.64%		2.64%
															Duration		4.5 Years		4.5 Years
															Current Yield (3)		0.23%		0.23%
Student Loan Auction Rate Securities		558				82				476			Discounted Cash Flow		Discount Rate (5)		3.17%		3.17%
															Duration		7.0 Years		7.0 Years
															Current Yield (3)		0.79%		0.79%
		$	12,249			$	902			$	11,347
Total		$	110,799			$	8,030			$	102,769
-1	Principal amount represents the par value of the ARS and is included in securities owned in the consolidated balance sheet at December 31, 2014. The valuation adjustment amount is included as a reduction to securities owned in the consolidated balance sheet at December 31, 2014.
-2	Derived by applying a multiple to the spread between 110% to 150% to the U.S. Treasury rate of 1.36%.
-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 1.51%.
-5	Derived by applying the sum of the spread of 1.20% to the U.S. Treasury rate of 1.97%.
-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 consolidated balance sheet at December 31, 2014.
-7	Represents ARS issued by 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 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 December 31, 2014 would result in a decrease in the fair value of $941,000 (does not consider a corresponding reduction in duration as discussed above).
•	The impact of a 50 basis point increase in the discount rate at December 31, 2014 would result in a decrease in the fair value of $1.9 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 December 31, 2014, the Company had a valuation adjustment (unrealized loss) of $7.1 million for ARS owned which is included as a reduction to securities owned on the consolidated balance sheet. As of December 31, 2014, the Company also had a valuation adjustment of $902,000 on ARS purchase commitments from settlements with the Regulators and legal settlements and awards which is included in other liabilities on the consolidated balance sheet. The total valuation adjustment was $8.0 million as of December 31, 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 December 31, 2014:
(Expressed in thousands)
	Fair Value				Unfunded				Redemption		Redemption
					Commitments				Frequency		Notice Period
Hedge funds (1)	$	2,159			$	—			Quarterly - Annually		30 - 120 Days
Private equity funds (2)	6,668				1,251				N/A		N/A
	$	8,827			$	1,251
-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 funds can extend to 10 years.
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 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. FCG is also independent from the business units and trading desks.
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 & CEO, OMHHF CFO, OMHHF COO, 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 CFO 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 December 31, 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 December 31, 2014
(Expressed in thousands)
	Fair Value Measurements at December 31, 2014
	Level 1				Level 2				Level 3			Total
Assets
Cash equivalents	$	31,175			$	—			$	—		$	31,175
Deposits with clearing organizations	24,188				—				—			24,188
Securities owned:
U.S. Treasury securities	540,223				—				—			540,223
U.S. Agency securities	—				26,261				—			26,261
Sovereign obligations	—				4,123				—			4,123
Corporate debt and other obligations	—				19,795				—			19,795
Mortgage and other asset-backed securities	—				6,689				—			6,689
Municipal obligations	—				60,669				164			60,833
Convertible bonds	—				49,813				—			49,813
Corporate equities	42,751				—				—			42,751
Money markets	1,245				—				—			1,245
Auction rate securities	—				—				91,422			91,422
Securities owned, at fair value	584,219				167,350				91,586			843,155
Investments (1)	—				51,246				9,508			60,754
Loans held for sale	—				19,243				—			19,243
Securities purchased under agreements to resell (2)	—				250,000				—			250,000
Derivative contracts:
TBAs	—				4,535				—			4,535
Interest rate lock commitments	—				—				7,576			7,576
Derivative contracts, total	—				4,535				7,576			12,111
Total	$	639,582			$	492,374			$	108,670		$	1,240,626
Liabilities
Securities sold, but not yet purchased:
U.S. Treasury securities	$	30,581			$	—			$	—		$	30,581
U.S. Agency securities	—				34				—			34
Corporate debt and other obligations	—				2,646				—			2,646
Mortgage and other asset-backed securities	—				255				—			255
Municipal obligations	—				51				—			51
Convertible bonds	—				11,369				—			11,369
Corporate equities	47,574				—				—			47,574
Money markets	—				—				—			—
Securities sold, but not yet purchased at fair value	78,155				14,355				—			92,510
Investments	—				—				—			—
Derivative contracts:
U.S. treasury futures	252				—				—			252
Federal funds futures	43				—				—			43
Eurodollars futures	55				—				—			55
General collateral futures	3				—				—			3
Foreign currency forward contracts	10				—				—			10
TBAs	—				1,018				—			1,018
Interest rate lock commitments	—				—				1,222			1,222
ARS purchase commitments	—				—				902			902
Derivative contracts, total	363				1,018				2,124			3,505
Total	$	78,518			$	15,373			$	2,124		$	96,015
-1	Included in other assets on the 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 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 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 assets and liabilities in the years ended December 31, 2014 and 2013.
The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2014 and 2013:
(Expressed in thousands)
	Level 3 Assets and Liabilities
	For the Year Ended December 31, 2014
	Beginning			Total Realized			Purchases			Sales and Settlements		Transfers			Ending
	Balance			and Unrealized			and Issuances (7)					In (Out)			Balance
				Gains
				(Losses) (5)(6)
Assets
Municipals	236			(72	)		—			—		—			164
Auction rate securities (1)(8)	85,124			(622	)		20,625			(13,705	)	—			91,422
Interest rate lock commitments (2)	2,375			5,201			—			—		—			7,576
Investments (3)	5,946			101			5,178			(1,097	)	(620	)		9,508
Liabilities
Interest rate lock commitments (2)	3,653			2,431			—			—		—			1,222
ARS purchase commitments (4)	2,600			1,698			—			—		—			902
-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 year.
-5	Included in principal transactions on the consolidated statement of operations, except for investments which are included in other income on the consolidated statement of operations.
-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 year for regulatory and legal ARS settlements and awards.
(Expressed in thousands)
	Level 3 Assets and Liabilities
	For the Year Ended December 31, 2013
	Beginning				Total Realized				Purchases			Sales and Settlements				Transfers				Ending
	Balance				and Unrealized				and Issuances (8)							In (Out)				Balance
					Gains
					(Losses) (6)(7)
Assets
Mortgage and other asset-backed securities (1)	$	40			$	—			$	—		$	(8	)		$	(32	)		$	—
Municipals	239				(3		)		—			—				—				236
Auction rate securities (2)(9)	72,118				(1,409		)		21,875			(7,460		)		—				85,124
Interest rate lock commitments (3)	—				2,375				—			—				—				2,375
Investments (4)	12,954				929				1,414			(8,898		)		(453		)		5,946
Liabilities
Auction rate securities (2)	100				—				100			—				—				—
Interest rate lock commitments (3)	—				(3,653		)		—			—				—				3,653
ARS purchase commitments (5)	2,647				47				—			—				—				2,600
-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	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.
-4	Primarily represents general partner ownership and limited partner interests in hedge funds and private equity funds sponsored by the Company.
-5	Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the year.
-6	Included in principal transactions on the consolidated statement of operations, except for investments which are included in other income on the consolidated statement of operations.
-7	Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date.
-8	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.
-9	Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the year for regulatory and legal ARS settlements and awards.
Financial Instruments Not Measured at Fair Value
The table below presents the carrying value, fair value and fair value hierarchy category of certain financial instruments that are not measured at fair value in the consolidated balance sheet. The table below excludes 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. See valuation techniques above for key assumptions used.
Assets and liabilities not measured at fair value on a recurring basis as of December 31, 2014
(Expressed in thousands)									Fair Value Measurement: Assets
	As of December 31, 2014								As of December 31, 2014
	Carrying Value				Fair Value				Level 1			Level 2				Level 3				Total
Cash	$	32,632			$	32,632			$	32,632		$	—			$	—			$	32,632
Cash segregated for regulatory and other purposes	18,594				18,594				18,594			—				—				18,594
Deposits with clearing organization	12,322				12,322				12,322			—				—				12,322
Receivable from brokers, dealers and clearing organizations:
Securities borrowed	242,172				242,172				—			242,172				—				242,172
Receivables from brokers	38,149				38,149				—			38,149				—				38,149
Securities failed to deliver	11,055				11,055				—			11,055				—				11,055
Clearing organizations	21,106				21,106				—			21,106				—				21,106
Other	1,993				1,993				—			1,993				—				1,993
	314,475				314,475				—			314,475				—				314,475
Receivable from customers	864,189				864,189				—			864,189				—				864,189
Securities purchased under agreements to resell	1,606				1,606				1,606			—				—				1,606
Mortgage servicing rights	30,140				42,279				—			—				42,279				42,279
(Expressed in thousands)									Fair Value Measurement: Liabilities
	As of December 31, 2014								As of December, 2014
	Carrying Value				Fair Value				Level 1			Level 2				Level 3				Total
Drafts payable	$	35,373			$	35,373			$	35,373		$	—			$	—			$	35,373
Bank call loans	59,400				59,400				59,400			—				—				59,400
Payables to brokers, dealers and clearing organizations:
Securities loaned	137,892				137,892				—			137,892				—				137,892
Securities failed to receive	23,573				23,573				—			23,573				—				23,573
Clearing organizations and other	95,696				95,696				—			95,696				—				95,696
	257,161				257,161				—			257,161				—				257,161
Payables to customers	652,256				652,256				—			652,256				—				652,256
Securities sold under agreements to repurchase	687,440				687,440				—			687,440				—				687,440
Warehouse payable (1)	16,683				16,683				—			16,683				—				16,683
Senior secured notes	150,000				157,782				—			157,782				—				157,782
-1	Included in accounts payable and other liabilities on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows. Warehouse payable represents the warehouse line amount outstanding with the third-party commercial bank. The borrowing rates on the warehouse facility is based upon a variable interest rate of 1-month LIBOR plus a spread. The Company earns a spread between the interest earned on the loans originated by the Company and the interest incurred on amounts drawn from the warehouse facility. The warehouse facility is used in connection with funding loans held for sale which is included in other assets on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows.
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:
Securities borrowed	274,127				274,127				—			274,127				—				274,127
Receivables from brokers	23,384				23,384				—			23,384				—				23,384
Securities failed to deliver	9,628				9,628				—			9,628				—				9,628
Clearing organizations	26,446				26,446				—			26,446				—				26,446
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	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 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 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:
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	Included in accounts payable and other liabilities on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows. Warehouse payable represents the warehouse line amount outstanding with the third-party commercial bank. The borrowing rates on the warehouse facility is based upon a variable interest rate of 1-month LIBOR plus a spread. The Company earns a spread between the interest earned on the loans originated by the Company and the interest incurred on amounts drawn from the warehouse facility. The warehouse facility is used in connection with funding loans held for sale which is included in other assets on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows.
-3	Corresponds with escrow deposit in other assets on the consolidated balance sheet (see note 1 above).
Fair Value Option
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 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 December 31, 2014 or 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 or that are not accounted for as purchase and sale agreements. 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 December 31, 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 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. The Company initially measures all originated loans at fair value. Subsequent to initial measurement, the Company measures all mortgage loans at fair value, unless the Company documents at the time the loan is originated that it will measure the specific loan at the lower of cost or fair market value for the life of the loan. 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 December 31, 2014, the book value and fair value of loans held for sale was $18.4 million and $19.2 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 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. There were no derivative instruments that were designated and qualified as a cash flow hedge at December 31, 2014 and 2013.
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 used include 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 levels 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 consolidated balance sheets in receivable from brokers, dealers and clearing organizations and payable to brokers, dealers and clearing organizations, respectively, and in the consolidated statement of operations as principal transactions revenue, net.
The notional amounts and fair values of the Company’s derivatives at December 31, 2014 and 2013 by product were as follows:
(Expressed in thousands)
	Fair Value of Derivative Instruments at December 31, 2014
	Description		Notional				Fair Value
Assets:
Derivatives not designated as hedging instruments (1)
Other contracts	TBAs		$	105,185			$	1,026
	TBA sale contracts		188,178				3,509
	Interest rate lock commitments		147,521				7,576
			$	440,884			$	12,111
Liabilities:
Derivatives not designated as hedging instruments (1)
Commodity contracts (2)	U.S. treasury futures		$	102,600			$	252
	Federal funds futures		3,260,000				43
	Eurodollars futures		333,000				55
	General collateral futures		140,000				3
Other contracts	Foreign currency forward contracts		400,000				10
	TBAs		105,186				1,018
	Interest rate lock commitments		22,269				1,222
	Forward start repurchase agreements		636,000				—
	ARS purchase commitments		12,249				902
			$	5,011,304			$	3,505
-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 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		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 consolidated balance sheet.
The following table presents the location and fair value amounts of the Company’s derivative instruments and their effect on the consolidated statement of operations for the years ended December 31, 2014 and 2013:
(Expressed in thousands)
	The Effect of Derivative Instruments on the Statement of Operations
	For the Year Ended December 31, 2014
			Recognized in Income on Derivatives
			(pre-tax)
Types	Description		Location		Gain (Loss)
Commodity contracts	U.S. treasury futures		Principal transactions revenue		$	(1,687	)
	Federal funds futures		Principal transactions revenue		(272		)
	Eurodollars futures		Principal transactions revenue		(161		)
	General Collateral Futures		Principal transactions revenue		11
Other contracts	TBAs		Principal transactions revenue		(17		)
	TBA sale contracts		Other revenue		(5,530		)
	Interest rate lock commitments		Other revenue		7,632
	ARS purchase commitments		Principal transactions revenue		1,698
	Options		Other revenue		10
					$	1,684
(Expressed in thousands)
	The Effect of Derivative Instruments on the Statement of Operations
	For the Year Ended December 31, 2013
			Recognized in Income on Derivatives
			(pre-tax)
Types	Description		Location		Gain (Loss)
Commodity contracts	U.S. treasury futures		Principal transactions revenue		$	906
	Federal funds futures		Principal transactions revenue		(289		)
	Eurodollars futures		Principal transactions revenue		5
Other contracts	TBAs		Principal transactions revenue		61
	TBA sale contracts		Other revenue		2,021
	Interest rate lock commitments		Other revenue		(1,277		)
	ARS purchase commitments		Principal transactions revenue		46
					$	1,473

Collateralized_Transactions

Collateralized Transactions	12 Months Ended
	Dec. 31, 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 December 31, 2014, bank call loans were $59.4 million ($118.2 million at December 31, 2013).
	At December 31, 2014, the Company had collateralized loans, collateralized by firm and customer securities with market values of approximately $148.8 million and $248.3 million, respectively, with commercial banks. At December 31, 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 $125.6 million under securities loan agreements.
	At December 31, 2014, the Company had deposited $362.9 million of customer securities directly with the Options Clearing Corporation to secure obligations and margin requirements under option contracts written by customers.
	At December 31, 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 December 31, 2014 and 2013:
	As of December 31, 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		Statement of			the Balance
				Financial			Sheet
				Position
	Reverse repurchase agreements	$	314,266	$	(62,660	)	$	251,606	$	(250,000	)	$	—	$	1,606
	Securities borrowed (1)	242,172		—			242,172		(234,376		)	—		7,796
	Total	$	556,438	$	(62,660	)	$	493,778	$	(484,376	)	$	—	$	9,402
	-1	Included in receivable from brokers, dealers and clearing organizations on the 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		Statement of			the Balance
				Financial			Sheet
				Position
	Repurchase agreements	$	750,100	$	(62,660	)	$	687,440	$	(686,119	)	$	—	$	1,321
	Securities loaned (2)	137,892		—			137,892		(132,258		)	—		5,634
	Total	$	887,992	$	(62,660	)	$	825,332	$	(818,377	)	$	—	$	6,955
	-2	Included in payable to brokers, dealers and clearing organizations on the 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		Statement of			the Balance
				Financial			Sheet
				Position
	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 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		Statement of			the Balance
				Financial			Sheet
				Position
	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 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 or that are not accounted for as purchase and sale agreements. 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 December 31, 2014, the fair value of the reverse repurchase agreements and repurchase agreements was $250.0 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 December 31, 2014, the fair value of securities received as collateral under securities borrowed transactions and reverse repurchase agreements was $235.1 million ($265.3 million at December 31, 2013) and $314.1 million ($385.5 million at December 31, 2013), respectively, of which the Company has sold and re-pledged approximately $4.4 million ($11.0 million at December 31, 2013) under securities loaned transactions and $312.6 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 $518.1 million, as presented on the face of the consolidated balance sheet at December 31, 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 $149.1 million at December 31, 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 December 31, 2014 are receivables from two major U.S. broker-dealers totaling approximately $101.6 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 consolidated statement of operations 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 December 31, 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 December 31, 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 Oppenheimer through BNP Securities Corp. The clearing organizations 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 December 31, 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 funded. At December 31, 2014, OMHHF had $16.7 million ($54.6 million at December 31,2013) outstanding under the warehouse facility line at a variable interest rate of 1 month LIBOR plus a spread. Interest expense for the year ended December 31, 2014 was $570,700 ($764,500 in 2013 and $895,000 in 2012). The Company’s ability to originate mortgage loans depends upon our ability to secure and maintain these types of short-term financings on acceptable terms.
As discussed above, 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

Variable Interest Entities	12 Months Ended
	Dec. 31, 2014
Variable Interest Entity [Abstract]
Variable Interest Entities	Variable interest entities
	The Company’s policy is to consolidate all subsidiaries in which it has a controlling financial interest, as well as any variable interest entities (“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.
	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 and/or manages through a contract, 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 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 December 31, 2014 and 2013:
	(Expressed in thousands)
		December 31, 2014
		Total		Carrying Value of the				Capital		Maximum
		VIE Assets (1)		Company’s Variable Interest				Commitments		Exposure
										to Loss in
										Non-consolidated
				Assets (2)		Liabilities				VIEs
	Hedge funds	$	1,955,515	$	1,584	$	—	$	—	$	1,584
	Private equity funds	66,400		27		—		2		29
	Total	$	2,021,915	$	1,611	$	—	$	2	$	1,613
	-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 consolidated balance sheet.
	(Expressed in thousands)
		December 31, 2013
		Total		Carrying Value of the				Capital		Maximum
		VIE Assets (1)		Company’s Variable Interest				Commitments		Exposure
										to Loss in
										Non-consolidated
				Assets (2)		Liabilities				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 consolidated balance sheet.

Commercial_Mortgage_Banking

Commercial Mortgage Banking	12 Months Ended
	Dec. 31, 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 recognizes origination fees and other direct origination costs when it enters into a rate lock commitment with the borrower. These costs are accounted for in the derivative value for the interest rate lock commitment. In accordance with Housing and Urban Development ("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 $9.8 million for the year ended December 31, 2014 ($14.5 million in 2013 and $7.4 million in 2012).
	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 through its affiliate, Oppenheimer, 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 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 $285.5 million at December 31, 2014 ($251.4 million at December 31, 2013). These amounts are not included on the consolidated statements of financial condition 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 December 31, 2014 was approximately $165.0 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 at December 31, 2014 and 2013:
	(Expressed in thousands)
		2014			2013
	Unpaid principal balance of loans	$	4,134,894		$	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. OMHHF uses the amortization method for subsequent measurement, subject to annual impairment. See Note 5, Financial Instruments, for more information.
	The fair value of the servicing rights on the loan portfolio was $42.3 million and $40.1 million at December 31, 2014 and 2013, respectively (carrying value of $30.1 million and $28.9 million at December 31, 2014 and 2013, respectively). The following tables summarize the changes in carrying value of MSRs for the years ended December 31, 2014 and 2013:
	(Expressed in thousands)
		Year Ended December 31,
		2014			2013
	Balance at beginning of year	$	28,879		$	26,983
	Originations (1)	5,956			7,351
	Purchases	345			1,344
	Disposals (1)	(2,221		)	(4,918		)
	Amortization expense	(2,819		)	(1,881		)
	Balance at end of year	$	30,140		$	28,879
	-1	Includes refinancings.
	Servicing rights are amortized using the straight-line method over 10 years. Estimated amortization expense for the next five years and thereafter is as follows:
	(Expressed in thousands)
		Originated MSRs			Purchased MSRs			Total MSRs
	2015	$	2,954		$	1,285		$	4,240
	2016	2,953			1,285			4,238
	2017	2,947			1,283			4,230
	2018	2,921			1,272			4,193
	2019	2,819			1,207			4,026
	Thereafter	7,181			2,032			9,213
		$	21,775		$	8,364		$	30,140
	The Company receives fees during the course of servicing the mortgage loans. The amount of these fees for the years ended December 31, 2014, 2013 and 2012 was as follows:
	(Expressed in thousands)
		For the Year Ended December 31,
		2014			2013			2012
	Servicing fees	$	5,552		$	5,049		$	4,177
	Ancillary fees	328			528			537
	Total MSR fees	$	5,880		$	5,577		$	4,714

Office_Facilities

Office Facilities	12 Months Ended
	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Office Facilities	Office facilities
	(Expressed in thousands)
		Year Ended December 31,
		2014			2013
	Furniture, fixtures and equipment	$	78,940		$	76,857
	Leasehold improvements	54,196			53,200
	Total	133,136			130,057
	Less accumulated depreciation	(103,547		)	(97,118		)
	Total	$	29,589		$	32,939
	Depreciation and amortization expense, included in occupancy and equipment costs on the consolidated statement of operations, was $7.7 million, $9.4 million and $10.5 million in the years ended December 31, 2014, 2013 and 2012, respectively.

Bank_Call_Loans

Bank Call Loans	12 Months Ended
	Dec. 31, 2014
Bank Call Loans [Abstract]
Bank Call Loans	Bank call loans
	Bank call loans, primarily payable on demand, bear interest at various rates but not exceeding the broker call rate, which was 2.0% at December 31, 2014 (2.0% at December 31, 2013). Details of the bank call loans are as follows:
	(Expressed in thousands, except percentages)
		2014			2013
	Year-end balance	$	59,400		$	118,200
	Weighted interest rate (at end of year)	1.22		%	1.28		%
	Maximum balance (at any month-end)	197,000			266,300
	Average amount outstanding (during the year)	108,235			164,434
	Average interest rate (during the year)	1.26		%	1.25		%
	Interest expense for the year ended December 31, 2014 on bank call loans was $1.4 million ($2.2 million in 2013 and $996,200 in 2012).

LongTerm_Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt
	(Expressed in thousands)
	Issued	Maturity Date	December 31, 2014		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.
	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. These guarantees may be shared, on a senior basis, under certain circumstances, with newly incurred debt outstanding in the future. At December 31, 2014, the Company was in compliance with all of its covenants.
	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 remained outstanding. The retirement of the Notes reduced the Company’s interest costs by $3.9 million annually beginning in the second quarter of 2014.
	Interest expense for the year ended December 31, 2014 on the Notes was $14.3 million ($17.1 million in 2013 and $17.1 million in 2012). Interest paid on the Notes for the year ended December 31, 2014 was $15.1 million ($17.1 million in 2013).

Share_Capital

Share Capital	12 Months Ended
	Dec. 31, 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 ("Class A Stock"), par value $0.001 per share; and (c) 99,680 shares of Class B voting common stock ("Class B 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:
		2014	2013
	Class A Stock outstanding, beginning of year	13,377,967	13,508,318
	Issued pursuant to shared-based compensation plans (Note 15)	152,721	70,227
	Repurchased and canceled pursuant to the stock buy-back	—	(200,578	)
	Class A Stock outstanding, end of year	13,530,688	13,377,967
	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 senior secured 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 canceled. 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.
	The Company did not buy back any stock under this program in 2014. In 2013, the Company purchased and canceled an aggregate of 200,578 shares of Class A Stock for total consideration of $3.6 million ($18.07 per share).
	Dividends
	The Company paid cash dividends of $0.44 per share to holders of Class A and Class B Stock in 2014, 2013 and 2012.

Earnings_Per_Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2014
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per share
	Basic earnings per share was computed by dividing net income attributable to Oppenheimer Holdings Inc. by the weighted average number of shares of Class A Stock and Class B Class B Stock outstanding. Diluted earnings per share includes the weighted average number of shares of Class A Stock and Class B Stock outstanding and the effects of the warrants, options to purchase the Class A Stock and restricted stock awards of Class A Stock using the treasury stock method.
	Earnings per share has been calculated as follows:
	(Expressed in thousands, except number of shares and per share amounts)
		For the Year Ended December 31,
		2014		2013		2012
	Basic weighted average number of shares outstanding	13,604,258		13,577,725		13,602,205
	Net dilutive effect of warrant, treasury method (1)	—		—		—
	Net dilutive effect of share-based awards, treasury method (2)	646,405		546,335		—
	Diluted weighted average number of shares outstanding	14,250,663		14,124,060		13,602,205
	Net income (loss) for the year	$	9,561	$	26,153	$	(851	)
	Net income attributable to non-controlling interest, net of tax	735		1,092		2,762
	Net income (loss) attributable to Oppenheimer Holdings Inc.	$	8,826	$	25,061	$	(3,613	)
	Basic earnings per share	$	0.65	$	1.85	$	(0.27	)
	Diluted earnings per share	$	0.62	$	1.77	$	(0.27	)
	-1	As part of the consideration for the 2008 acquisition of certain businesses from CIBC World Markets Corp. (“CIBC”), the Company issued a warrant to CIBC to purchase 1 million shares of Class A Stock of the Company at $48.62 per share exercisable five years from the January 14, 2008 acquisition date. The warrants expired on April 13, 2013. For the year ended December 31, 2012, the effect of the warrants was anti-dilutive.
	-2	For the year ended December 31, 2014, the diluted earnings per share computation does not include the anti-dilutive effect of 43,008 shares of Class A Stock granted under share-based compensation arrangements (57,573 and 1,936,871 shares of Class A Stock granted under share-based compensation arrangements together with the warrant described in (1) for the years ended December 31, 2013 and 2012, respectively).

Income_taxes

Income taxes	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income taxes	Income taxes
	The income tax provision shown in the consolidated statements of operations is reconciled to amounts of tax that would have been payable (recoverable) from the application of the federal tax rate to pre-tax profit, as follows:
	(Expressed in thousands)
		For the Year Ended December 31,
		2014						2013						2012
		Amount			Percentage			Amount				Percentage		Amount			Percentage
	U.S. federal statutory income tax rate	$	9,008		35	%		$	15,368			35	%	$	(184	)	35	%
	U.S. state and local income taxes, net of U.S. federal income tax benefits	2,033			7.9	%		2,131				4.9	%	(1,585		)
	Unrecognized tax benefit	6			—	%		1,244				2.8	%	1,524
	Tax exempt income, net of interest expense	(528		)	-2	%		(715		)		-1.6	%	(561		)
	Non-deductible regulatory settlements	5,298			20.6	%		—				—	%	306
	Business promotion and other non-deductible expenses	655			2.5	%		660				1.5	%	545
	Insurance proceeds, non-taxable	(65		)	-0.3	%		(597		)		-1.4	%	(349		)
	Adjustment to reflect prior year tax return filings	256			1	%		(251		)		-0.6	%	(294		)
	Tax rate change on deferred income taxes	241			0.9	%		208				0.5	%	390
	Non-U.S. operations	(447		)	-1.7	%		185				0.4	%	678
	Other	(282		)	-1.1	%		(477		)		-1.1	%	(146		)
	Total income tax expense	$	16,175		62.8	%		$	17,756			40.4	%	$	324		n/m
	n/m =ot meaningful
	Income taxes included in the consolidated statements of operations represent the following:
	(Expressed in thousands)
		For the Year Ended December 31,
		2014			2013				2012
	Current:
	U.S. federal tax (benefit)	$	10,302		$	(2,984	)		$	19,918
	State and local tax	1,520			1,885				2,765
	Non-U.S. operations	(264		)	116				(61		)
	Total Current	11,558			(983		)		22,622
	Deferred:
	U.S. federal tax (benefit)	1,273			16,658				(17,303		)
	State and local tax (benefit)	2,057			2,482				(4,890		)
	Non-U.S. operations	1,287			(401		)		(105		)
	Total Deferred	4,617			18,739				(22,298		)
	Total	$	16,175		$	17,756			$	324
	Profit (loss) before income taxes with respect to foreign operations was $4.3 million, $(1.3) million and $(2.4) million for the years ended December 31, 2014, 2013 and 2012, respectively.
	Tax expense for 2014 was lower than in 2013 primarily because the Company earned less pretax income in 2014 than in 2013. The effective tax rate for 2014 was higher than in 2013 mainly due to nondeductible penalties incurred in 2014 pursuant to regulatory settlements.
	U.S. income and foreign withholding taxes have not been recognized on the excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries that is indefinitely reinvested outside the United States. This amount becomes taxable upon a repatriation of assets from the subsidiary or a sale or liquidation of the subsidiary. The amount of such taxable temporary differences totaled $18.4 million as of December 31, 2014. The unrecognized deferred tax liability associated with earnings of foreign subsidiaries, net of associated U.S. foreign tax credits, is $2.3 million for those subsidiaries with respect to which the Company would be subject to residual U.S. tax on cumulative earnings through 2014 were those earnings to be repatriated.
	Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates and laws that will be in effect when such differences are expected to reverse. Significant components of the Company’s deferred tax assets and liabilities at December 31, 2014 and 2013 were as follows:
	(Expressed in thousands)
		For the Year Ended December 31,
		2014			2013
	Deferred tax assets:
	Employee deferred compensation plans	$	30,969		$	31,213
	Deferred rent	10,024			10,451
	Lease incentive	6,212			6,693
	Broker notes	3,460			3,915
	Auction rate securities reserve	3,229			3,669
	Net operating loss	2,896			4,587
	Involuntary conversion	2,033			1,866
	Reserve for litigation and legal fees	5,808			1,659
	Allowance for doubtful accounts	984			1,002
	State and local net operating loss/credit carryforward	357			1,993
	Other	2,650			2,757
	Total deferred tax assets	68,622			69,805
	Valuation allowance	113			138
	Deferred tax assets after valuation allowance	68,509			69,667
	Deferred tax liabilities:
	Goodwill amortization (Section 197)	48,025			43,728
	Partnership investments	10,865			12,039
	Mortgage servicing rights	12,173			9,889
	Company owned life insurance	6,501			5,173
	Change in accounting method	2,591			3,895
	Book versus tax depreciation differences	982			1,437
	Other	469			602
Total deferred tax liabilities	81,606			76,763
Deferred tax liabilities, net	$	(13,097	)	$	(7,096	)
The Company has deferred tax assets at December 31, 2014 of $1.7 million, $898,000 and $191,000 arising from net operating losses incurred by Oppenheimer Israel (OPCO) Ltd., Oppenheimer Investments Asia Limited, and Oppenheimer Europe Ltd., respectively. The Company believes that realization of the deferred tax assets is more likely than not based on expectations of future taxable income in Israel, Asia and Europe. These net operating losses carry forward indefinitely and are not subject to expiration, provided that these subsidiaries and their underlying businesses continue operating normally (as is anticipated).
The Company has a deferred tax asset of $726,000 (net of federal taxes) as of December 31, 2014 arising primarily from New York State Investment Tax Credits carried forward to future years. These credits will expire if not used by 2028.
Goodwill arising from the acquisitions of Josephthal Group Inc. and the Oppenheimer Divisions is being amortized for tax purposes on a straight-line basis over 15 years. The difference between book and tax is recorded as a deferred tax liability.
The Company or one or more of its subsidiaries file income tax returns in the U.S. federal jurisdiction and in various states and foreign jurisdictions. The Company has closed tax years through 2010 in the U.S. federal jurisdiction.
The Company is under examination in various states and overseas jurisdictions in which the Company has significant business operations. The Company has closed tax years through 2007 for New York State and is currently under exam for the period 2008 to 2011. The Company also has closed tax years through 2008 with New York City and is currently under exam for the 2009-2012 tax years. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations for years before 2008.
The Company has unrecognized tax benefits of $1.6 million, $1.6 million and $5.2 million as of December 31, 2014, 2013 and 2012, respectively (as shown on the table below). Included in the balance of unrecognized tax benefits as of December 31, 2014 and 2013 are $1.3 million of tax benefits for either year that, if recognized, would affect the effective tax rate.
During the year ended December 31, 2013, the Company reclassified $4.9 million of unrecognized tax benefit to other tax accounts when the Internal Revenue Service approved the Company’s application for a tax accounting method change. A reconciliation of the beginning and ending amount of unrecognized tax benefit follows:
(Expressed in thousands)
	2014			2013				2012
Balance at January 1,	$	1,574		$	5,236			$	2,317
Additions for tax positions of prior years	—			1,168				2,919
Additions for tax positions of current year	9			77				—
Reclass to other tax accounts	—			(4,907		)		—
Balance at December 31,	$	1,583		$	1,574			$	5,236
On its consolidated statements of operations, the Company records interest and penalties accruing on unrecognized tax benefits in income before taxes as interest expense and other expense, respectively. For the years ended December 31, 2014 and 2013, the Company recorded tax-related interest expense and benefit of $22,000 and $(284,000), respectively, in its statement of operations. At December 31, 2014 and 2013, the Company had an income tax-related interest payable of $83,000 and $61,000, respectively, on its consolidated balance sheet.

Employee_Compensation_Plans

Employee Compensation Plans	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Compensation Plans	Employee compensation plans
	The Company maintains various employee compensation plans for the benefits of its employees. The two types of employee compensation plans are granted under share-based compensation and cash-based compensation plans.
	Share-based Compensation
	Equity Incentive Plan
	Under the Company’s 2006 Equity Incentive Plan, adopted December 11, 2006 and amended December 2011, and its 1996 Equity Incentive Plan, as amended March 10, 2005 (together “EIP”), the Compensation Committee of the Board of Directors of the Company could grant options to purchase Class A Stock, Class A Stock awards and restricted Class A Stock awards to officers and key employees of the Company and its subsidiaries. Options were generally granted for a five-year term and generally vest at the rate of 25% of the amount granted on the second anniversary of the grant, 25% on the third anniversary of the grant, 25% on the fourth anniversary of the grant and 25% 6 months before expiration. The EIP has been amended, restated and replaced by the OIP, discussed below.
	Employee Share Plan
	On March 10, 2005, the Company approved the Oppenheimer & Co. Inc. Employee Share Plan (“ESP”) for employees of the Company and its subsidiaries to attract, retain and provide incentives to key management employees. The Compensation Committee of the Board of Directors of the Company could grant Class A Stock awards and restricted Class A Stock awards pursuant to the ESP. ESP awards were generally awarded for a three or five year term which fully vest at the end of the term. The ESP has been amended, restated and replaced by the OIP, discussed below.
	Oppenheimer Holdings Inc. 2014 Incentive Plan
	On February 26, 2014, the Company adopted the Oppenheimer Holdings Inc. 2014 Incentive Plan (the "OIP"). The OIP amends, restates and replaces two separate plans previously in place, the EIP and ESP (the "Prior Plans"), as described above.
	The OIP plan permits the Company to grant options to purchase Class A Stock, Class A Stock awards and restricted Class A Stock awards to or for the benefit of employees and non-employee directors of the Company and its affiliates as part of their compensation. After February 26, 2014, no additional awards shall be made under the Prior Plans, although outstanding awards previously made under the Prior Plans shall continue to be governed by the terms of the applicable Prior Plan.
	Oppenheimer Holdings Inc. Stock Appreciation Right Plan
	Under the Oppenheimer Holdings Inc. Stock Appreciation Right Plan, the Company awards stock appreciation rights (“OARs”) to certain employees as part of their compensation package based on a formula reflecting gross production and length of service. These awards are granted once per year in January with respect to the prior year’s production. The OARs vest five years from grant date and settle in cash at vesting.
	Restricted stock - The Company has granted restricted stock awards pursuant to the EIP, ESP and OIP. The following table summarizes the status of the Company’s non-vested restricted Class A Stock awards under the EIP, ESP and OIP for the year ended December 31, 2014:
		Number of Class			Weighted				Remaining
		A Shares			Average Fair				Contractual
		Subject to			Value				Life
		Restricted Stock  Awards
	Nonvested at beginning of year	1,247,476			$	17.87			2.0 Years
	Granted	345,260			22.26				2.2 Years
	Vested	(219,180	)		11.72				—
	Forfeited or expired	(134,210	)		18.43				—
	Nonvested at end of year	1,239,346			$	20.12			1.7 Years
	At December 31, 2014, all outstanding restricted Class A Stock awards were non-vested. The aggregate intrinsic value of restricted Class A Stock awards outstanding as of December 31, 2014 was approximately $28.8 million. The aggregate intrinsic value of restricted Class A Stock awards that are expected to vest is $27.9 million as of December 31, 2014. During the year ended December 31, 2014, the Company included approximately $5.6 million ($5.0 million in 2013 and $3.4 million in 2012) of compensation expense in its consolidated statements of operations relating to restricted Class A Stock awards.
	As of December 31, 2014, there was approximately $9.6 million of total unrecognized compensation cost related to unvested restricted Class A Stock awards. The cost is expected to be recognized over a weighted average period of 1.7 years.
	At December 31, 2014, the number of shares of Class A Stock available under the EIP and the ESP, but not yet awarded, was 998,615.
	On January 28, 2015, the Company awarded 14,000 restricted shares of Class A Stock to its non-employee directors under the OIP. These shares of Class A Stock will vest as follows: 25% on July 27, 2015, July 1, 2016, July 1, 2017 and July 1, 2018.
	On January 29, 2015, the Company awarded 31,690 restricted shares of Class A Stock to an executive officer of the Company pursuant to the OIP. This award cliff vests on January 28, 2018 and will be expensed over three years.
	On January 29, 2015, the Company awarded a total of 133,681 restricted shares of Class A Stock to current employees pursuant to the OIP. Of these restricted shares, 59,876 shares will cliff vest in three years and 73,805 shares will cliff vest in five years. These awards will be expensed over the applicable three or five year vesting period.
	On February 26, 2015, the Company awarded 13,795 restricted shares of Class A Stock to an executive officer of the Company pursuant to the OIP. This award cliff vests on February 25, 2018 and will be expensed over three years.
	On February 26, 2015, the Company awarded a total of 138,900 restricted shares of Class A Stock to current employees pursuant to the OIP. These restricted shares will cliff vest in five years and will be expensed over the five year vesting period.
	Stock options - The Company has granted stock options pursuant to the EIP and OIP. The fair value of each award of stock options was estimated on the grant date using the Black-Scholes model with the following assumptions:
						Grant Date Assumptions
		2014				2013				2012			2011			2010
	Expected term (1)	5 years				5 years				5 years			5 years			4.5 years
	Expected volatility factor (2)	56.31		%		53.82		%		54.95		%	52.52		%	48.58		%
	Risk-free interest rate (3)	1.49		%		0.84		%		0.7		%	2		%	2.62		%
	Actual dividends (4)	$	0.44			$	0.44			$	0.44		$	0.44		$	0.44
	-1	The expected term was determined based on actual awards.
	-2	The volatility factor was measured using the weighted average of historical daily price changes of the Company’s Class A Stock over a historical period commensurate to the expected term of the awards.
	-3	The risk-free interest rate was based on periods equal to the expected term of the awards based on the U.S. Treasury yield curve in effect at the time of grant.
	-4	Actual dividends were used to compute the expected annual dividend yield.
	Stock option activity under the OIP and EIP since January 1, 2013 is summarized as follows:
		Year Ended December 31,
		2014								2013
		Number of				Weighted Average				Number of			Weighted Average
		Options				Exercise Price				Options			Exercise Price
	Options outstanding at beginning of year	72,573				$	24.46			86,803			$	23.35
	Options granted	2,976				23.49				951			17.2
	Options exercised	(15,000		)		12.33				(12,165		)	12.3
	Options forfeited or expired	(15,000		)		33.22				(3,016		)	39.45
	Options outstanding at end of year	45,549				$	25.5			72,573			$	24.46
	Options vested at end of year	30,513				$	25.99			45,683			$	23.34
	Weighted average fair value of options granted during the year	$	9.94							$	6.6
	The aggregate intrinsic value of options outstanding as of December 31, 2014 was $12,000. The aggregate intrinsic value of vested options as of December 31, 2014 was $1,600. The aggregate intrinsic value of options that are expected to vest is $11,400 as of December 31, 2014.
	The following table summarizes stock options outstanding and exercisable as of December 31, 2014:
	Range of Exercise Prices	Number of			Weighted		Weighted				Number of		Weighted
		Options			Average		Average				Options		Average
		Outstanding			Remaining		Exercise Price of				Exercisable		Exercise Price of
					Contractual Life		Outstanding				(Vested)		Vested Options
							Options
	$17.20 - $25.00	8,216			2.28 Years		$	22.45			3,097		$	24.27
	$25.01 - $26.21	37,333			1.00 Year		26.18				27,416		26.19
	$17.20 - $26.21	45,549			1.23 Years		$	25.5			30,513		$	25.99
	The following table summarizes the status of the Company’s non-vested options for the year ended December 31, 2014:
	Number of			Weighted
	Options			Average Fair
				Value
Nonvested at beginning of year	26,890			$	10.86
Granted	2,976			9.94
Vested	(14,830	)		11.38
Nonvested at end of year	15,036			$	10.17
In the year ended December 31, 2014, the Company has included approximately $133,600 ($158,200 in 2013 and $164,200 in 2012) of compensation expense in its consolidated statement of operations relating to the expensing of stock options.
As of December 31, 2014, there was approximately $74,300 of total unrecognized compensation cost related to unvested share-based compensation arrangements granted under the EIP. The cost is expected to be recognized over a weighted average period of 1.23 years.
On January 29, 2015, the Company awarded a total of 4,177 options to purchase Class A Stock to current employees pursuant to the OIP. These options will be expensed over 4.5 years (the vesting period).
OARs - The Company has awarded OARs pursuant to the Oppenheimer Holdings Inc. Stock Appreciation Right Plan. The following table summarized the status of the Company’s outstanding OARs awards as of December 31, 2014:
Grant Date	Number of			Strike Price				Remaining		Fair Value at
	OARs							Contractual		December 31, 2014
	Outstanding							Life
January 19, 2010	235,890			$	30.68			18 Days		$	—
January 13, 2011	326,480			26.35				1 Year		1.63
January 19, 2012	366,650			18.94				2 Years		5.71
January 14, 2013	403,340			15.94				3 Years		8.36
January 14, 2014	508,550			23.48				4 Years		6.94
	1,840,910
Total weighted average values				$	22.36			2.4 Years		$	5.17
At December 31, 2014, all outstanding OARs were unvested. At December 31, 2014, the aggregate intrinsic value of OARs outstanding and expected to vest was $4.5 million. In the year ended December 31, 2014, the Company included approximately $380,100 ($4.1 million in 2013 and net credit of $590,000 in 2012) in compensation expense in its consolidated statement of operations relating to OARs awards. The liability related to the OARs was approximately $3.4 million as of December 31, 2014.
As of December 31, 2014, there was approximately $5.3 million of total unrecognized compensation cost related to unvested OARs. The cost is expected to be recognized over a weighted average period of 2.4 years.
On January 9, 2015, 567,600 OARs were awarded to Oppenheimer employees related to fiscal 2014 performance. These OARs will be expensed over 5 years (the vesting period).
Cash-based Compensation Plan
Defined Contribution Plan
The Company, through its subsidiaries, maintains a defined contribution plan covering substantially all full-time U.S. employees. The Oppenheimer & Co. Inc. 401(k) Plan provides that Oppenheimer may make discretionary contributions. Eligible Oppenheimer employees could make voluntary contributions which could not exceed $17,500, $17,500 and $17,000 per annum in 2014, 2013 and 2012, respectively. The Company made contributions to the 401(k) Plan of $1.2 million, $1.3 million and $1.1 million in 2014, 2013 and 2012, respectively.
Deferred Compensation Plans
The Company maintains an Executive Deferred Compensation Plan (“EDCP”) and a Deferred Incentive Plan (“DIP”) in order to offer certain qualified high-performing financial advisers a bonus based upon a formula reflecting years of service, production, net commissions and a valuation of their clients’ assets. The bonus amounts resulted in deferrals in fiscal 2014 of approximately $8.6 million ($8.5 million in 2013 and $8.1 million in 2012). These deferrals normally vest after five years. The liability is being recognized on a straight-line basis over the vesting period. The EDCP also includes voluntary deferrals by senior executives that are not subject to vesting. The Company maintains a Company-owned life insurance policy, which is designed to offset approximately 60% of the EDCP liability. The EDCP liability is being tracked against the value of a benchmark investment portfolio held for this purpose. At December 31, 2014, the Company’s liability with respect to the EDCP and DIP totaled $49.6 million and is included in accrued compensation on the consolidated balance sheet at December 31, 2014.
In addition, the Company is maintaining a deferred compensation plan on behalf of certain employees who were formerly employed by CIBC World Markets. The liability is being tracked against the value of an investment portfolio held by the Company for this purpose and, therefore, the liability fluctuates with the fair value of the underlying portfolio. At December 31, 2014, the Company’s liability with respect to this plan totaled $16.0 million.
The total amount expensed in 2014 for the Company’s deferred compensation plans was $11.4 million ($17.8 million in 2013 and $12.1 million in 2012).

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and contingencies
	Commitments
	The Company and its subsidiaries have operating leases for office space, equipment and furniture and fixtures expiring at various dates through 2028. Future minimum rental commitments under such office and equipment leases as at December 31, 2014 are as follows.
	(Expressed in thousands)
	2015	$	40,807
	2016	38,318
	2017	33,833
	2018	31,779
	2019	26,302
	2020 and thereafter	130,362
		$	301,401
	Certain of the leases contain provisions for rent increases based on changes in costs incurred by the lessor.
	The Company’s rent expense for the year ended December 31, 2014 was $45.6 million ($46.4 million in 2013 and $51.2 million in 2012).
	At December 31, 2014, the Company had capital commitments of approximately $5.1 million with respect to its obligations in its role as sponsor for certain private equity funds.
	At December 31, 2014, the Company had no collateralized or uncollateralized letters of credit outstanding.
	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 Securities and Exchange Commission (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 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 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 $31.0 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 Regulators and client related legal settlements and awards to purchase ARS, as of December 31, 2014, the Company purchased and holds (net of redemptions) approximately $98.6 million in ARS from its clients. In addition, the Company is committed to purchase another $12.2 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 December 31, 2014, the Company had $825,000 of outstanding ARS purchase commitments related to the settlements with the Regulators. Eligible Investors for future buybacks continued to hold approximately $101.4 million of ARS principal value as of December 31, 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 to 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 December 31, 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, and in certain current ARS actions would, 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.
	In October 2010, Oppenheimer received notice of an investigation by the SEC related to the trading of low-priced securities by one former financial adviser in one of Oppenheimer’s branch offices and the supervision related thereto.
	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 the matter that was settled by Oppenheimer with FINRA in August 2013.
	On July 16, 2013, the Company 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 Exchange Act in relation to its sales of low-priced securities on behalf of a former customer of the firm. The Company submitted a Wells response on August 19, 2013.
	As a result of the above-described investigations, the SEC notified Oppenheimer that it intended to institute public administrative and cease and desist proceedings against it for failing to report a customer’s suspicious activities occurring through its Oppenheimer account in violation of the Exchange Act; aiding and abetting a customer’s violation of the broker-dealer registration provisions of the Exchange Act; violating the Exchange Act provisions requiring broker-dealers to maintain ledgers accurately reflecting liabilities and expenses; failing to accurately maintain records for each account showing the true beneficial owner as required by Exchange Act rule; and violating the securities registration provisions contained in Section 5 of the Securities Act and failing to prevent and detect such violations of Section 5 of the Securities Act as required by the Exchange Act.
	To settle the investigations described above, on December 31, 2014, Oppenheimer submitted an Offer of Settlement to the SEC. On January 27, 2015, the SEC approved the Offer and issued an Order Instituting Administrative and Cease and Desist Proceedings (the "Order”). Pursuant to the Order, Oppenheimer was ordered to (i) cease and desist from committing or causing any violations of the relevant provisions of the federal securities laws; (ii) be censured; (iii) pay to the SEC $10.0 million comprised of $4.2 million in disgorgement, $753,500 in prejudgment interest and $5.1 million in civil penalties; and (iv) retain an independent consultant to review Oppenheimer’s policies and procedures relating to anti-money laundering and Section 5 of the Securities Act. In addition, as a result of discussions between Oppenheimer and senior members of the SEC staff, Oppenheimer agreed that the independent consultant, subject to review by the SEC, will also review Oppenheimer’s governance and compliance programs and processes and provide recommendations for changes in or improvements to Oppenheimer’s policies and procedures.
	Oppenheimer made a payment of $5.0 million to the SEC on February 17, 2015 and agreed to make a second payment of $5.0 million to the SEC before January 27, 2017.
	As a result of the resolution of the SEC action, Oppenheimer consented to be enjoined, in order to avoid a disqualification that would have negatively impacted the Company’s business and its results of operations. The Company sought and on January 27, 2015, received a waiver from the disqualification that would have prohibited the sale of certain privately-placed securities, including third party alternative investments. Oppenheimer believes that any disqualification resulting from the issuance of the Order for which Oppenheimer has not received a waiver or similar relief, is not material to the business of Oppenheimer or its affiliates.
	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. On January 27, 2015, FinCEN issued a Civil Monetary Assessment against Oppenheimer. Pursuant to the terms of the Assessment, Oppenheimer admitted that it violated the Bank Secrecy Act and consented to the payment of a civil money penalty, which, as a result of the payments to the SEC described above, obligates Oppenheimer to make an aggregate payment of $10.0 million to FinCEN. On February 9, 2015, Oppenheimer made a payment of $5.0 million to FinCEN and has agreed to make a second payment of $5.0 million before January 27, 2017. Oppenheimer further agreed to provide FinCEN copies of any reports or other recommendations prepared by the independent compliance consultant retained pursuant to the SEC settlement described above. The Company had fully reserved $20.0 million related to the aforementioned matters through the period ended June 30, 2014.

Regulatory_Requirements

Regulatory Requirements	12 Months Ended
	Dec. 31, 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 Securities Exchange Act of 1934, as amended (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 December 31, 2014, the net capital of Oppenheimer as calculated under the Rule was $161.1 million or 12.63% of Oppenheimer’s aggregate debit items. This was $135.6 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 6.67% of aggregate indebtedness, as defined. At December 31, 2014, Freedom had net capital of $4.5 million, which was $4.3 million in excess of the $250,000 required to be maintained at that date.
	At December 31, 2014, Freedom had $17.7 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 December 31, 2014, the capital required and held under CRD IV was as follows:
	•	Common Equity Tier 1 ratio 10.74% (required 4.5%);
	•	Tier 1 Capital ratio 10.74% (required 6.0%); and
	•	Total Capital ratio 12.16% (required 8.0%).
	At December 31, 2014, the regulatory capital of Oppenheimer Europe Ltd. was $6.4 million which was $2.2 million in excess of the $4.2 million required to be maintained at that date. Oppenheimer Europe Ltd. computes its regulatory capital pursuant to the Fixed Overhead Method prescribed by the Financial Conduct Authority of the United Kingdom.
	At December 31, 2014, the regulatory capital of Oppenheimer Investments Asia Limited was $2.4 million, which was $2.0 million in excess of the $387,000 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.

Goodwill_and_intangibles

Goodwill and intangibles	12 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangibles	Goodwill and intangibles
	Goodwill
	The Company’s goodwill of $137.9 million resides in its PCD reporting unit. The Company performed its annual test for goodwill impairment as of December 31, 2014 and 2013, which did not result in any impairment charges. At each annual goodwill impairment testing date, the PCD reporting unit had a fair value that was substantially in excess of its carrying value.
	Intangible Assets
	Indefinite intangible assets are comprised of trademarks and trade names. Trademarks and trade names, carried at $31.7 million, which are not amortized, are subject to at least an annual test for impairment to determine if the estimated fair value is less than their carrying amount. Trademarks and trade names recorded as at December 31, 2014 and 2013 have been tested for impairment and it has been determined that no impairment has occurred.

Segment_Information

Segment Information	12 Months Ended
	Dec. 31, 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 segments and allocates resources to them based upon profitability.
	The Company’s reportable segments are:
	Private Client - includes commissions and a proportionate amount of fee income earned on 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 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 which primarily include compensation and benefits.
	The table below presents information about the reported revenue and net income (loss) before taxes of the Company for the years ended December 31, 2014, 2013 and 2012. 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)
		For the Year Ended December 31,
		2014			2013			2012
	Revenue
	Private client (1)	$	582,364		$	600,071		$	550,797
	Asset management (1)	99,964			102,214			84,160
	Capital markets	298,597			281,377			283,139
	Commercial mortgage banking	23,329			34,144			35,682
	Corporate/Other	210			1,908			(1,166		)
	Total	$	1,004,464		$	1,019,714		$	952,612
	Income (loss) before income taxes
	Private client (1)	$	60,116		$	65,924		$	53,487
	Asset management (1)	33,707			40,951			25,436
	Capital markets	17,819			6,968			(15,324		)
	Commercial mortgage banking	8,546			11,413			15,267
	Corporate/Other	(94,452		)	(81,347		)	(79,393		)
	Total	$	25,736		$	43,909		$	(527	)
	-1	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 years ended December 31, 2014, 2013 and 2012 was as follows:
	(Expressed in thousands)
		Year Ended December,
		2014			2013			2012
	Americas	$	955,361		$	978,249		$	916,568
	Europe/Middle East	43,087			36,516			34,913
	Asia	6,016			4,949			1,131
	Total	$	1,004,464		$	1,019,714		$	952,612

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Subsequent events
	On January 30, 2015, the Company announced a quarterly dividend in the amount of $0.11 per share, paid on February 27, 2015 to holders of Class A Stock and Class B Stock of record on February 13, 2015.

Quarterly_Information

Quarterly Information	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Quarterly Information (unaudited)	Quarterly information (unaudited)
	(Expressed in thousands, except per share amounts)
		Fiscal Quarters
	Year Ended December 31, 2014	Fourth		Third		Second			First		Year
	Revenue	$	254,928	$	244,679	$	249,689		$	255,168	$	1,004,464
	Income before income taxes	9,595		10,896		136			5,109		25,736
	Net income attributable to Oppenheimer Holdings Inc.	2,686		4,470		(1,554		)	3,224		8,826
	Earnings per share attributable to Oppenheimer Holdings Inc.
	Basic	0.2		0.33		(0.11		)	0.24		0.65
	Diluted	0.19		0.31		(0.11		)	0.23		0.62
	Dividends per share	0.11		0.11		0.11			0.11		0.44
	Market price of Class A Stock (1)
	High	24.7		24.8		28.86			29.75		29.75
	Low	19.97		19.76		21.28			22.26		19.76
	-1	The price quotations above were obtained from the New York Stock Exchange website.
	(Expressed in thousands, except per share amounts)
		Fiscal Quarters
	Year Ended December 31, 2013	Fourth		Third		Second			First		Year
	Revenue	$	293,362	$	243,376	$	243,830		$	239,146	$	1,019,714
	Income before income taxes	23,359		8,163		5,674			6,713		43,909
	Net income attributable to Oppenheimer Holdings Inc.	13,313		5,237		2,848			3,663		25,061
	Earnings per share attributable to Oppenheimer Holdings Inc.
	Basic	0.99		0.38		0.21			0.27		1.85
	Diluted	0.94		0.37		0.2			0.26		1.77
	Dividends per share	0.11		0.11		0.11			0.11		0.44
	Market price of Class A Stock (1)
	High	24.8		19.75		20			21		24.8
	Low	16.66		16.52		16.75			15.69		15.69
	-1	The price quotations above were obtained from the New York Stock Exchange website.

Supplemental_Guarantor_Consoli

Supplemental Guarantor Consolidated Financial Statements	12 Months Ended
	Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Guarantor Consolidated Financial Statements	Supplemental guarantor condensed consolidated financial statements
	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 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 DECEMBER 31, 2014
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	ASSETS
	Cash and cash equivalents	$	439		$	1,557		$	61,811		$	—		$	63,807
	Cash and securities segregated for regulatory and other purposes	—			—			18,594			—			18,594
	Deposits with clearing organizations	—			—			36,510			—			36,510
	Receivable from brokers, dealers and clearing organizations	—			—			314,475			—			314,475
	Receivable from customers, net of allowance for credit losses of $2,427	—			—			864,189			—			864,189
	Income tax receivable	28,070			27,304			—			(51,134		)	4,240
	Securities purchased under agreements to resell	—			—			251,606			—			251,606
	Securities owned, including amounts pledged of $518,123 at fair value	—			5,806			837,349			—			843,155
	Notes receivable, net of accumulated amortization and allowance for uncollectibles of $42,211 and $8,606, respectively	—			—			34,932			—			34,932
	Office facilities, net of accumulated depreciation of $103,547	—			20,181			9,408			—			29,589
	Loans held for sale	—			—			19,243			—			19,243
	Mortgage servicing rights	—			—			30,140			—			30,140
	Subordinated loan receivable	—			112,558			—			(112,558		)	—
	Intangible assets	—			—			31,700			—			31,700
	Goodwill	—			—			137,889			—			137,889
	Other assets	1,686			3,803			101,897			—			107,386
	Deferred tax assets	18			309			27,973			(28,300		)	—
	Investment in subsidiaries	565,257			544,576			—			(1,109,833		)	—
	Intercompany receivables	87,442			—			—			(87,442		)	—
	Total assets	$	682,912		$	716,094		$	2,777,716		$	(1,389,267	)	$	2,787,455
	LIABILITIES AND STOCKHOLDERS’ EQUITY
	Liabilities
	Drafts payable	$	—		$	—		$	35,373		$	—		$	35,373
	Bank call loans	—			—			59,400			—			59,400
	Payable to brokers, dealers and clearing organizations	—			—			257,161			—			257,161
	Payable to customers	—			—			652,256			—			652,256
	Securities sold under agreements to repurchase	—			—			687,440			—			687,440
	Securities sold, but not yet purchased, at fair value	—			—			92,510			—			92,510
	Accrued compensation	—			—			165,134			—			165,134
	Accounts payable and other liabilities	2,828			35,800			102,724			—			141,352
	Income tax payable	2,440			22,189			26,505			(51,134		)	—
	Senior secured notes	150,000			—			—			—			150,000
	Subordinated indebtedness	—			—			112,558			(112,558		)	—
	Deferred tax liabilities	—			88			41,309			(28,300		)	13,097
	Intercompany payables	—			76,492			10,950			(87,442		)	—
	Total liabilities	155,268			134,569			2,243,320			(279,434		)	2,253,723
	Stockholders’ equity
	Stockholders’ equity attributable to Oppenheimer Holdings Inc.	527,644			581,525			528,308			(1,109,833		)	527,644
	Non-controlling interest	—			—			6,088			—			6,088
	Total stockholders’ equity	527,644			581,525			534,396			(1,109,833		)	533,732
	Total liabilities and stockholders’ equity	$	682,912		$	716,094		$	2,777,716		$	(1,389,267	)	$	2,787,455
	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			—			(40,521		)	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
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $54,465 and $9,718, respectively	—			—			40,751			—			40,751
Office facilities, net of accumulated depreciation of $97,118	—			21,250			11,689			—			32,939
Loans held for sale	—			—			75,989			—			75,989
Mortgage servicing rights	—			—			28,879			—			28,879
Subordinated loan receivable	—			112,558			—			(112,558		)	—
Intangible assets	—			—			31,700			—			31,700
Goodwill	—			—			137,889			—			137,889
Other assets	2,797			27,113			135,150			—			165,060
Deferred tax assets	678			309			29,496			(30,483		)	—
Investment in subsidiaries (1)	546,755			562,248			—			(1,109,003		)	—
Intercompany receivables	153,528			—			—			(153,528		)	—
Total assets	$	723,700		$	784,193		$	2,890,920		$	(1,446,093	)	$	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			15,892			(40,521		)	—
Senior secured notes	195,000			—			—			—			195,000
Subordinated indebtedness	—			—			112,558			(112,558		)	—
Deferred tax liabilities	—			—			37,579			(30,483		)	7,096
Intercompany payables	—			133,421			20,107			(153,528		)	—
Total liabilities	201,182			214,899			2,345,946			(337,178		)	2,424,849
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc. (1)	522,518			569,294			539,621			(1,108,915		)	522,518
Noncontrolling interest	—			—			5,353			—			5,353
Total stockholders’ equity	522,518			569,294			544,974			(1,108,915		)	527,871
Total liabilities and stockholders’ equity	$	723,700		$	784,193		$	2,890,920		$	(1,446,093	)	$	2,952,720
-1	The Company revised amounts previously disclosed as Investment in Subsidiaries and Total Shareholders’ Equity in the Condensed Consolidating Balance Sheet to properly reflect investments in subsidiaries. Offsetting amounts were adjusted in the eliminations column.
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2014
(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
REVENUES
Commissions	$	—		$	—		$	469,829		$	—		$	469,829
Advisory fees	—			1,139			283,785			(3,244		)	281,680
Investment banking	—			—			125,598			—			125,598
Interest	—			10,482			49,193			(10,431		)	49,244
Principal transactions, net	—			164			29,535			—			29,699
Other	—			477			48,362			(425		)	48,414
Total revenue	—			12,262			1,006,302			(14,100		)	1,004,464
EXPENSES
Compensation and related expenses	1,047			—			663,594			—			664,641
Communications and technology	145			—			67,025			—			67,170
Occupancy and equipment costs	—			—			63,437			(425		)	63,012
Clearing and exchange fees	—			—			24,709			—			24,709
Interest	14,401			—			13,831			(10,431		)	17,801
Other	4,626			733			139,280			(3,244		)	141,395
Total expenses	20,219			733			971,876			(14,100		)	978,728
Income (loss) before income taxes	(20,219		)	11,529			34,426			—			25,736
Income tax provision (benefit)	(7,917		)	3,971			20,121			—			16,175
Equity in earnings of subsidiaries	21,128			13,570			—			(34,698		)	—
Net income for the year	8,826			21,128			14,305			(34,698		)	9,561
Less net income attributable to non-controlling interest, net of tax	—			—			735			—			735
Net income attributable to Oppenheimer Holdings Inc.	8,826			21,128			13,570			(34,698		)	8,826
Other comprehensive income (loss)	—			—			(2,627		)	—			(2,627		)
Total comprehensive income	$	8,826		$	21,128		$	10,943		$	(34,698	)	$	6,199
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2013
(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
REVENUES
Commissions	$	—		$	—		$	486,767		$	—		$	486,767
Advisory fees	—			825			276,913			(3,560		)	274,178
Investment banking	—			—			97,977			—			97,977
Interest	5			11,128			53,401			(11,318		)	53,216
Principal transactions, net	—			79			43,689			—			43,768
Other	—			180			63,808			(180		)	63,808
Total revenue	5			12,212			1,022,555			(15,058		)	1,019,714
EXPENSES
Compensation and related expenses	1,124			—			674,812			—			675,936
Communications and technology	119			—			65,698			—			65,817
Occupancy and equipment costs	—			—			66,938			(180		)	66,758
Clearing and exchange fees	—			—			24,481			—			24,481
Interest	17,500			—			19,960			(11,318		)	26,142
Other	1,309			522			118,400			(3,560		)	116,671
Total expenses	20,052			522			970,289			(15,058		)	975,805
Income (loss) before income taxes	(20,047		)	11,690			52,266			—			43,909
Income tax provision (benefit)	(7,110		)	5,638			19,228			—			17,756
Equity in earnings of subsidiaries (1)	37,998			31,946			—			(69,944		)	—
Net income for the year	25,061			37,998			33,038			(69,944		)	26,153
Less net income attributable to non-controlling interest, net of tax	—			—			1,092			—			1,092
Net income attributable to Oppenheimer Holdings Inc.	25,061			37,998			31,946			(69,944		)	25,061
Other comprehensive income (loss)	(3		)	—			1,505			—			1,502
Total comprehensive income	$	25,058		$	37,998		$	33,451		$	(69,944	)	$	26,563
-1	The Company revised amounts in Equity in Earnings of Subsidiaries in the Condensed Consolidating Statement of Operations to properly reflect investments in subsidiaries. Offsetting amounts were adjusted in the eliminations column.
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2012
(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
REVENUES
Commissions	$	—		$	—		$	469,865		$	—		$	469,865
Advisory fees	—			—			225,226			(2,494		)	222,732
Investment banking	—			—			89,477			—			89,477
Interest	—			12,070			57,452			(11,860		)	57,662
Principal transactions, net	—			752			53,559			—			54,311
Other	—			168			58,565			(168		)	58,565
Total revenue	—			12,990			954,144			(14,522		)	952,612
EXPENSES
Compensation and related expenses	397			—			626,014			—			626,411
Communications and technology	81			—			63,278			—			63,359
Occupancy and equipment costs	—			—			62,986			(168		)	62,818
Clearing and exchange fees	—			—			23,750			—			23,750
Interest	17,500			—			29,447			(11,861		)	35,086
Other	1,475			60			142,673			(2,493		)	141,715
Total expenses	19,453			60			948,148			(14,522		)	953,139
Income (loss) before income taxes	(19,453		)	12,930			5,996			—			(527		)
Income tax provision (benefit)	(6,315		)	6,093			546			—			324
Equity in earnings of subsidiaries	9,525			—			—			(9,525		)	—
Net income (loss) for the year	(3,613		)	6,837			5,450			(9,525		)	(851		)
Less net income attributable to non-controlling interest, net of tax	—			—			2,762			—			2,762
Net income (loss) attributable to Oppenheimer Holdings Inc.	(3,613		)	6,837			2,688			(9,525		)	(3,613		)
Other comprehensive income	—			—			415			—			415
Total comprehensive income (loss)	$	(3,613	)	$	6,837		$	3,103		$	(9,525	)	$	(3,198	)
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2014
(Expressed in thousands)	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
Cash flows from operating activities:
Cash provided by (used in) continuing operations	$	49,595		$	(29,344	)	$	58,064		$	—		$	78,315
Cash flows from investing activities
Purchase of office facilities	—			—			(4,398		)	—			(4,398		)
Cash used in investing activities	—			—			(4,398		)	—			(4,398		)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	(5,983		)	—			—			—			(5,983		)
Issuance of Class A non-voting common stock	185			—			—			—			185
Tax benefit from share-based awards	1,194			—			—			—			1,194
Redemption of senior secured notes	(45,000		)	—			—			—			(45,000		)
Decrease in bank call loans, net				—			(58,800		)	—			(58,800		)
Cash flow used in financing activities	(49,604		)	—			(58,800		)	—			(108,404		)
Net decrease in cash and cash equivalents	(9		)	(29,344		)	(5,134		)	—			(34,487		)
Cash and cash equivalents, beginning of the year	448			30,901			66,945			—			98,294
Cash and cash equivalents, end of the year	$	439		$	1,557		$	61,811		$	—		$	63,807
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2013
(Expressed in thousands)	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
Cash flows from operating activities:
Cash provided by (used in) continuing operations	$	9,944		$	(9,757	)	$	(3,616	)	$	—		$	(3,429	)
Cash flows from investing activities
Purchase of office facilities	—			—			(14,012		)	—			(14,012		)
Cash used in investing activities	—			—			(14,012		)	—			(14,012		)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	(5,978		)	—			—			—			(5,978		)
Issuance of Class A non-voting common stock	150			—			—			—			150
Repurchase of Class A non-voting common stock for cancellation	(3,625		)	—			—			—			(3,625		)
Tax deficiency from share-based awards	(78		)	—			—			—			(78		)
Decrease in bank call loans, net	—			—			(10,100		)	—			(10,100		)
Cash flow used in financing activities	(9,531		)	—			(10,100		)	—			(19,631		)
Net increase (decrease) in cash and cash equivalents	413			(9,757		)	(27,728		)	—			(37,072		)
Cash and cash equivalents, beginning of the year	35			40,658			94,673			—			135,366
Cash and cash equivalents, end of the year	$	448		$	30,901		$	66,945		$	—		$	98,294
OPPENHEIMER HOLDINGS INC.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2012
(Expressed in thousands)	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
				subsidiaries			Subsidiaries
Cash flows from operations:
Cash provided by (used in) continuing operations	$	6,052		$	31,776		$	(47,280	)	$	—		$	(9,452	)
Cash flows from investing activities
Purchase of office facilities	—			—			(14,739		)	—			(14,739		)
Cash used in investing activities	—			—			(14,739		)	—			(14,739		)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	(5,986		)	—			—			—			(5,986		)
Repurchase of Class A non-voting common stock for cancellation	(1,866		)	—			—			—			(1,866		)
Tax deficiency from share-based awards	(720		)	—			—			—			(720		)
Acquisition of non-controlling interest	—			(3,000		)	—			—			(3,000		)
Increase in bank call loans, net	—			—			100,800			—			100,800
Cash flow provided by (used in) financing activities	(8,572		)	(3,000		)	100,800			—			89,228
Net increase (decrease) in cash and cash equivalents	(2,520		)	28,776			38,781			—			65,037
Cash and cash equivalents, beginning of the year	2,555			11,882			55,892			—			70,329
Cash and cash equivalents, end of the year	$	35		$	40,658		$	94,673		$	—		$	135,366

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
	The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America for purpose of inclusion in the Company’s Annual Report on Form 10-K and in its annual report to stockholders. Intercompany transactions and balances have been eliminated in the preparation of the consolidated financial statements.
	Accounting standards require the Company to present non-controlling interests as a separate component of stockholders’ equity on the Company’s consolidated balance sheet.
Use of Estimates	Use of Estimates
	The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods.
	In presenting the consolidated financial statements, management makes estimates regarding valuations of financial instruments, loans and allowances for credit losses, the outcome of legal and regulatory matters, goodwill and other intangible assets, stock-based compensation plans, mortgage servicing rights, and income taxes. Estimates, by their nature, are based on judgment and available information. Therefore, actual results could be materially different from these estimates. A discussion of certain areas in which estimates are a significant component of the amounts reported in the consolidated financial statements follows.
Financial Instruments and Fair Value	Financial Instruments and Fair Value
	Financial Instruments
	Securities owned, 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.
	Fair Value Measurements
	The Company adopted the accounting guidance for the fair value measurement of financial assets, which defines fair value, establishes a framework for measuring fair value, establishes a fair value measurement hierarchy, and expands fair value measurement disclosures. Fair value, as defined by the accounting guidance, is the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy established by this accounting guidance prioritizes the inputs used in valuation techniques into the following three categories (highest to lowest priority):
	Level 1:	Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets;
	Level 2:	Inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly; and
	Level 3:	Unobservable inputs that are significant to the overall fair value measurement.
	The Company’s financial instruments that are recorded at fair value generally are classified within Level 1 or Level 2 within the fair value hierarchy using quoted market prices or quotes from market makers or broker-dealers. Financial instruments classified within Level 1 are valued based on quoted market prices in active markets and consist of U.S. government, federal agency, and sovereign government obligations, corporate equities, and certain money market instruments. Level 2 financial instruments primarily consist of investment grade and high-yield corporate debt, convertible bonds, mortgage and asset-backed securities, municipal obligations, and certain money market instruments. Financial instruments classified as Level 2 are valued based on quoted prices for similar assets and liabilities in active markets and quoted prices for identical or similar assets and liabilities in markets that are not active. Some financial instruments are classified within Level 3 within the fair value hierarchy as observable pricing inputs are not available due to limited market activity for the asset or liability. Such financial instruments include investments in hedge funds and private equity funds where the Company, through its subsidiaries, is general partner; less-liquid private label mortgage and asset-backed securities; certain distressed municipal securities; interest rate lock commitments where OMHHF enters into contractual commitments to originate (purchase) and sell multifamily mortgage loans at fixed prices with fixed expiration dates; and auction rate securities (“ARS”).
	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.
Consolidation	Consolidation
	The Company consolidates all subsidiaries in which it has a controlling financial interest, as well as any variable interest entities (“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. Accounting Standards Update (“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.
Financing Receivables	Financing Receivables
	The Company’s financing receivables include customer margin loans, reverse repurchase agreements, and securities borrowed transactions. The Company uses financing receivables to extend margin loans to customers, meet trade settlement requirements, and facilitate its matched-book arrangements and inventory requirements.
Allowance for Credit Losses	Allowance for Credit Losses
	The Company’s financing receivables are secured by collateral received from clients and counterparties. In many cases, the Company is permitted to sell or re-pledge securities held as collateral. These securities may be used to collateralize repurchase agreements, to enter into securities lending agreements, to cover short positions or fulfill the obligation of fails to deliver. The Company monitors the market value of the collateral received on a daily basis and may require clients and counterparties to deposit additional collateral or return collateral pledged, when appropriate.
	Customer receivables, primarily consisting of customer margin loans collateralized by customer-owned securities, are stated net of allowance for credit losses. The Company reviews large customer accounts that do not comply with the Company’s margin requirements on a case-by-case basis to determine the likelihood of collection and records an allowance for credit loss following that process. For small customer accounts that do not comply with the Company’s margin requirements, the allowance for credit loss is generally recorded as the amount of unsecured or partially secured receivables.
	The Company also makes loans to financial advisers as part of its hiring process. These loans are recorded as notes receivable on its consolidated balance sheet. Reserves are established on these loans if the financial adviser is no longer associated with the Company and the loan has not been promptly repaid.
Legal and Regulatory Reserves	Legal and Regulatory Reserves
	The Company records reserves related to legal and regulatory proceedings in accounts payable and other liabilities. The determination of the amounts of these reserves requires significant judgment on the part of management. In accordance with applicable accounting guidance, the Company establishes reserves for litigation and regulatory matters where available information indicates that it is probable a liability had been incurred at the date of the consolidated financial statements and the Company can reasonably estimate the amount of that loss. When loss contingencies are not probable and cannot be reasonably estimated, the Company does not establish reserves.
	When determining whether to record a reserve, management considers many factors including, but not limited to, the amount of the claim; the stage and forum of the proceeding, the sophistication of the claimant, the amount of the loss, if any, in the client’s account and the possibility of wrongdoing, if any, on the part of an employee of the Company; the basis and validity of the claim; previous results in similar cases; and applicable legal precedents and case law. Each legal and regulatory proceeding is reviewed with counsel in each accounting period and the reserve is adjusted as deemed appropriate by management. Any change in the reserve amount is recorded in the results of that period. The assumptions of management in determining the estimates of reserves may be incorrect and the actual disposition of a legal or regulatory proceeding could be greater or less than the reserve amount.
Goodwill	Goodwill
	The Company defines a reporting unit as an operating segment. The Company’s goodwill resides in its Private Client Division (“PCD”) reporting unit. Goodwill of a reporting unit is subject to at least an annual test for impairment to determine if the estimated fair value of a reporting unit is less than its carrying amount. Goodwill of a reporting unit is required to be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Due to the volatility in the financial services sector and equity markets in general, determining whether an impairment of goodwill has occurred is increasingly difficult and requires management to exercise significant judgment. The Company’s goodwill impairment analysis performed at December 31, 2014 applied the same valuation methodologies with consistent inputs as that performed at December 31, 2013, as follows:
	In estimating the fair value of the PCD, the Company uses traditional standard valuation methods, including the market comparable approach and income approach. The market comparable approach is based on comparisons of the subject company to public companies whose stocks are actively traded (“Price Multiples”) or to similar companies engaged in an actual merger or acquisition (“Precedent Transactions”). As part of this process, multiples of value relative to financial variables, such as earnings or stockholders’ equity, are developed and applied to the appropriate financial variables of the subject company to indicate its value. The income approach involves estimating the present value of the subject company’s future cash flows by using projections of the cash flows that the business is expected to generate, and discounting these cash flows at a given rate of return (“Discounted Cash Flow” or “DCF”). Each of these standard valuation methodologies requires the use of management estimates and assumptions.
	In its Price Multiples valuation analysis, the Company uses various operating metrics of comparable companies, including revenues, after-tax earnings, EBITDA as well as price-to-book value ratios at a point in time. The Company analyzes prices paid in Precedent Transactions that are comparable to the business conducted in the PCD. The DCF analysis includes the Company’s assumptions regarding discount rate, growth rates of the PCD’s revenues, expenses, EBITDA, and capital expenditures, adjusted for current economic conditions and expectations. The Company weighs each of the three valuation methods equally in its overall valuation. Given the subjectivity involved in selecting which valuation method to use, the corresponding weightings, and the input variables for use in the analyses, it is possible that a different valuation model and the selection of different input variables could produce a materially different estimate of the fair value of the PCD reporting unit.
	At each annual goodwill impairment testing date, the PCD reporting unit had a fair value that was substantially in excess of its carrying value. See Note 18 for further discussion.
Intangible Assets	Intangible Assets
	Indefinite intangible assets are comprised of trademarks and trade names. Trademarks and trade names, carried at $31.7 million, which are not amortized, are subject to at least an annual test for impairment to determine if the estimated fair value is less than their carrying amount. See Note 18 for further discussion.
Share-Based Compensation Plans	Share-Based Compensation Plans
	As part of the compensation to employees and directors, the Company uses stock-based compensation, consisting of restricted stock, stock options and stock appreciation rights. In accordance with ASC Topic 718, “Compensation - Stock Compensation,” the Company classifies the stock options and restricted stock awards as equity awards, which requires the compensation cost to be recognized on the consolidated statements of operations at grant date fair value. The fair value of restricted stock awards is determined based on the grant date closing price of the Company’s Class A Stock adjusted for the present value of the dividend. The fair value of stock options is determined using the Black-Scholes model using a forfeiture rate based on historical results. Key assumptions used to estimate the fair value include the expected term and the expected volatility of the Company’s Class A Stock over the term of the award, the risk-free interest rate over the expected term, and the Company’s expected annual dividend yield. Compensation expense related to these awards is amortized over the service period of the award, net of estimated forfeitures.
	The Company classifies stock appreciation rights ("OARs") as liability awards, which requires the fair value to be remeasured at each reporting period until the award vests. The fair value of OARs is determined using the Black-Scholes model at the end of each reporting period. The adjusted liability is amortized on a straight-line basis over the vesting period.
Mortgage Servicing Rights	Mortgage Servicing Rights
	The Company’s Mortgage Servicing Rights (“MSRs”) assets are initially measured and recorded at fair value based on the present value of future net servicing income adjusted for factors such as discount rate and prepayment speeds. After initial measurement, MSRs are amortized over a ten year period. 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.
Revenue Recognition	Revenue Recognition
	Brokerage
	Customers’ securities and commodities transactions are reported on a settlement date basis, which is generally three business days after trade date for securities transactions and one day for commodities transactions. Related commission income and expense is recorded on a trade date basis.
	Principal Transactions
	Transactions in proprietary securities and related revenue and expenses are recorded on a trade date basis. Securities owned and securities sold, but not yet purchased, are reported at fair value generally based upon quoted prices. Realized and unrealized changes in fair value are recognized in principal transactions, net in the period in which the change occurs.
	Investment Banking Fees
	Underwriting revenues and advisory fees from mergers, acquisitions and restructuring transactions are recorded when services for the transactions are completed and income is reasonably determinable, generally as set forth under the terms of the engagement. Transaction-related expenses, primarily consisting of legal, travel and other costs directly associated with the transaction, are deferred and recognized in the same period as the related investment banking transaction revenue. Underwriting revenues are presented net of related expenses. Non-reimbursable expenses associated with advisory transactions are recorded within other expenses.
	Interest
	Interest revenue represents interest earned on margin debit balances, securities borrowed transactions, reverse repurchase agreements, fixed income securities, firm investments, and cash and cash equivalents. Interest revenue is recognized in the period earned based upon average or daily asset balances, contractual cash flows, and interest rates.
	Asset Management
	Asset management fees are generally recognized over the period the related service is provided based on the account value at the valuation date per the respective asset management agreements. In certain circumstances, OAM is entitled to receive performance (or incentive) fees when the return on assets under management (“AUM”) exceeds certain benchmark returns or other performance targets. Performance fees are generally based on investment performance over a 12-month period and are not subject to adjustment once the measurement period ends. Such fees are computed as at the fund’s year-end when the measurement period ends and generally are recorded as earned in the fourth quarter of the Company’s fiscal year. Asset management fees and performance fees are included in advisory fees in the consolidated statements of operations. Assets under management are not included as assets of the Company.
Balance Sheet	Balance Sheet
	Cash and Cash Equivalents
	The Company defines cash equivalents as highly liquid investments with original maturities of less than 90 days that are not held for sale in the ordinary course of business.
	Receivables from / Payables to Brokers, Dealers and Clearing Organizations
	Securities borrowed and securities loaned are carried at the amounts of cash collateral advanced or received. Securities borrowed transactions require the Company to deposit cash or other collateral with the lender. The Company receives cash or collateral in an amount generally in excess of the market value of securities loaned. The Company monitors the market value of securities borrowed and loaned on a daily basis and may require counterparties to deposit additional collateral or return collateral pledged, when appropriate.
	Securities failed to deliver and receive represent the contract value of securities which have not been received or delivered by settlement date.
	Securities Purchased under Agreements to Resell and Securities Sold under Agreements to Repurchase
	Reverse repurchase agreements and repurchase agreements are treated as collateralized financing transactions and are recorded at their contractual amounts plus accrued interest. The resulting interest income and expense for these arrangements are included in interest income and interest expense in the consolidated statements of operations. The Company can present the reverse repurchase and repurchase transactions on a net-by-counterparty basis when the specific offsetting requirements are satisfied.
	Notes Receivable
	Notes receivable represent recruiting and retention payments generally in the form of upfront loans to financial advisers and key revenue producers as part of the Company’s overall growth strategy. These loans are generally forgiven and amortized over a service period of 3 to 5 years from the initial date of the loan or based on productivity levels of employees and all such notes are contingent on the employees’ continued employment with the Company. The unforgiven portion of the notes becomes due on demand in the event the employee departs during the service period. Amortization of notes receivable is included in the consolidated statements of operations in compensation and related expenses.
	Office Facilities
	Office facilities are stated at cost less accumulated depreciation. Depreciation of furniture, fixtures, and equipment is provided on a straight-line basis generally over 3-7 years. Leasehold improvements are amortized on a straight-line basis over the shorter of the life of the improvement or the remaining term of the lease. Leases with escalating rents are expensed on a straight-line basis over the life of the lease. Landlord incentives are recorded as deferred rent and amortized, as reductions to lease expense, on a straight-line basis over the life of the applicable lease. Deferred rent is included in accounts payable and other liabilities in the consolidated balance sheet.
	Drafts Payable
	Drafts payable represent amounts drawn by the Company against a bank.
	Foreign Currency Translations
	Foreign currency balances have been translated into U.S. dollars as follows: monetary assets and liabilities at exchange rates prevailing at period end; revenue and expenses at average rates for the period; and non-monetary assets and stockholders’ equity at historical rates. The functional currency of the overseas operations is the local currency in each location except for Oppenheimer Europe Ltd. and Oppenheimer Investments Asia Limited which have the U.S. dollar as their functional currency.
	Income Taxes
	The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.
	The Company recognizes deferred tax assets to the extent it believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and the results of recent operations.
	The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) it determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.
	The Company records interest and penalties accruing on unrecognized tax benefits in income (loss) before income taxes as interest expense and other expense, respectively, in its consolidated statement of operations.
	The Company permanently reinvests eligible earnings of its foreign subsidiaries and, accordingly, does not accrue any U.S. income taxes that would arise if such earnings were repatriated.
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 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 or tax credit 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 consolidated financial statements.
	In November 2014, the FASB issued ASU No. 2014-17 "Business Combination - Pushdown Accounting." The ASU gives the acquired entity the option of applying pushdown accounting in its stand-alone financial statements upon a change-in-control event. The ASU became effective upon issuance. The adoption of this accounting guidance did not have a material impact on the Company’s 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 consolidated financial statements.
	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 consolidated financial statements.
	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 consolidated financial statements.
	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 consolidated financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, "Disclosure of Uncertainties 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.
	In January 2015, the FASB issued ASU No. 2015-01, "Income Statement - Extraordinary and Unusual Items," to simplify income statement classification by removing the concept of extraordinary items. Under the existing guidance, an entity is required to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is of an unusual nature and occurs infrequently. This separate, net-of-tax presentation (and corresponding earnings per share impact) will no longer be allowed. However, the existing requirement to separately present items that are of an unusual nature or occur infrequently on a pre-tax basis within income from continuing operations has been retained. The ASU is effective for the annual reporting period in the fiscal year that begins after December 15, 2015. Early adoption is permitted, but only as of the beginning of the fiscal year of adoption. Upon adoption, a reporting entity may elect prospective or retrospective application. If adopted prospectively, both the nature and amount of any subsequent adjustments to previously reported extraordinary items must be disclosed. The Company will not early adopt this ASU. The Company is currently evaluating the impact, if any, that the ASU will have on its consolidated financial statements.
	In February 2015, the FASB issued ASU No. 2015-02, "Consolidation - Amendments to the Consolidation Analysis," to eliminate the deferral of the application of the revised consolidation rules and make changes to both the variable interest model and the voting model. Under this ASU, a general partner will not consolidate a partnership or similar entity under the voting model. 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 is currently evaluating the impact, if any, that the ASU will have on its consolidated financial statements.

Receivable_From_and_Payable_to1

Receivable From and Payable to Brokers, Dealers and Clearing Organizations (Tables)	12 Months Ended
	Dec. 31, 2014
Brokers and Dealers [Abstract]
Receivable from and Payable to Brokers, Dealers and Clearing Organizations
	(Expressed in thousands)
		As of December 31,
		2014		2013
	Receivable from brokers, dealers and clearing organizations consist of:
	Securities borrowed	$	242,172	$	274,127
	Receivable from brokers	38,149		23,384
	Securities failed to deliver	11,055		9,628
	Clearing organizations	21,106		26,446
	Omnibus accounts	—		18,086
	Other	1,993		13,202
	Total	$	314,475	$	364,873
	Payable to brokers, dealers and clearing organizations consist of:
	Securities loaned	$	137,892	$	211,621
	Securities failed to receive	23,573		5,346
	Clearing organizations and other	95,696		6,348
	Total	$	257,161	$	223,315

Fair_value_measurements_Tables

Fair value measurements (Tables)	12 Months Ended
	Dec. 31, 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 December 31,
		2014								2013
		Owned				Sold				Owned			Sold
	U.S. Government, agency and sovereign obligations	$	570,607			$	30,615			$	596,114		$	11,889
	Corporate debt and other obligations	19,795				2,646				14,673			4,847
	Mortgage and other asset-backed securities	6,689				255				3,395			7
	Municipal obligations	60,833				51				40,166			72
	Convertible bonds	49,813				11,369				53,719			13,922
	Corporate equities	42,751				47,574				61,634			45,336
	Money markets	1,245				—				1,263			241
	Auction rate securities	91,422				—				85,124			—
	Total	$	843,155			$	92,510			$	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 December 31, 2014
	Product		Principal				Valuation				Fair			Valuation		Unobservable		Range		Weighted
							Adjustment				Value			Technique		Input				Average
	Auction Rate Securities Owned (1)
	Auction Rate Preferred Securities		$	77,025			$	4,339			$	72,686		Discounted Cash Flow		Discount Rate (2)		1.50% to 2.04%		1.78%
																Duration		4.0 Years		4.0 Years
																Current Yield (3)		0.012% to 0.48%		0.30%
	Municipal Auction Rate Securities		11,475				1,157				10,318			Discounted Cash Flow		Discount Rate (4)		2.64%		2.64%
																Duration		4.5 Years		4.5 Years
																Current Yield (3)		0.23%		0.23%
			5,975				627				5,348			Secondary Market Trading Activity		Observable trades in inactive market for in-portfolio securities		89.50% of par		89.50% of par
	Student Loan Auction Rate Securities		450				66				384			Discounted Cash Flow		Discount Rate (5)		3.17%		3.17%
																Duration		7.0 Years		7.0 Years
																Current Yield (3)		0.79%		0.79%
	Other (7)		3,625				939				2,686			Secondary Market Trading Activity		Observable trades in inactive market for in portfolio securities		74.11% of par		74.11% of par
			$	98,550			$	7,128			$	91,422
	Auction Rate Securities Commitments to Purchase (6)
	Auction Rate Preferred Securities		$	7,626			$	410			$	7,216		Discounted Cash Flow		Discount Rate (2)		1.50% to 2.04%		1.78%
																Duration		4.0 Years		4.0 Years
																Current Yield (3)		0.12% to 0.48%		0.30%
	Municipal Auction Rate Securities		4,065				410				3,655			Discounted Cash Flow		Discount Rate (4)		2.64%		2.64%
																Duration		4.5 Years		4.5 Years
																Current Yield (3)		0.23%		0.23%
	Student Loan Auction Rate Securities		558				82				476			Discounted Cash Flow		Discount Rate (5)		3.17%		3.17%
																Duration		7.0 Years		7.0 Years
																Current Yield (3)		0.79%		0.79%
			$	12,249			$	902			$	11,347
	Total		$	110,799			$	8,030			$	102,769
	-1	Principal amount represents the par value of the ARS and is included in securities owned in the consolidated balance sheet at December 31, 2014. The valuation adjustment amount is included as a reduction to securities owned in the consolidated balance sheet at December 31, 2014.
	-2	Derived by applying a multiple to the spread between 110% to 150% to the U.S. Treasury rate of 1.36%.
	-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 1.51%.
	-5	Derived by applying the sum of the spread of 1.20% to the U.S. Treasury rate of 1.97%.
	-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 consolidated balance sheet at December 31, 2014.
	-7	Represents ARS issued by 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 December 31, 2014:
	(Expressed in thousands)
		Fair Value				Unfunded				Redemption		Redemption
						Commitments				Frequency		Notice Period
	Hedge funds (1)	$	2,159			$	—			Quarterly - Annually		30 - 120 Days
	Private equity funds (2)	6,668				1,251				N/A		N/A
		$	8,827			$	1,251
	-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 funds can extend to 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 December 31, 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 December 31, 2014
	(Expressed in thousands)
		Fair Value Measurements at December 31, 2014
		Level 1				Level 2				Level 3			Total
	Assets
	Cash equivalents	$	31,175			$	—			$	—		$	31,175
	Deposits with clearing organizations	24,188				—				—			24,188
	Securities owned:
	U.S. Treasury securities	540,223				—				—			540,223
	U.S. Agency securities	—				26,261				—			26,261
	Sovereign obligations	—				4,123				—			4,123
	Corporate debt and other obligations	—				19,795				—			19,795
	Mortgage and other asset-backed securities	—				6,689				—			6,689
	Municipal obligations	—				60,669				164			60,833
	Convertible bonds	—				49,813				—			49,813
	Corporate equities	42,751				—				—			42,751
	Money markets	1,245				—				—			1,245
	Auction rate securities	—				—				91,422			91,422
	Securities owned, at fair value	584,219				167,350				91,586			843,155
	Investments (1)	—				51,246				9,508			60,754
	Loans held for sale	—				19,243				—			19,243
	Securities purchased under agreements to resell (2)	—				250,000				—			250,000
	Derivative contracts:
	TBAs	—				4,535				—			4,535
	Interest rate lock commitments	—				—				7,576			7,576
	Derivative contracts, total	—				4,535				7,576			12,111
	Total	$	639,582			$	492,374			$	108,670		$	1,240,626
	Liabilities
	Securities sold, but not yet purchased:
	U.S. Treasury securities	$	30,581			$	—			$	—		$	30,581
	U.S. Agency securities	—				34				—			34
	Corporate debt and other obligations	—				2,646				—			2,646
	Mortgage and other asset-backed securities	—				255				—			255
	Municipal obligations	—				51				—			51
	Convertible bonds	—				11,369				—			11,369
	Corporate equities	47,574				—				—			47,574
	Money markets	—				—				—			—
	Securities sold, but not yet purchased at fair value	78,155				14,355				—			92,510
	Investments	—				—				—			—
	Derivative contracts:
	U.S. treasury futures	252				—				—			252
	Federal funds futures	43				—				—			43
	Eurodollars futures	55				—				—			55
	General collateral futures	3				—				—			3
	Foreign currency forward contracts	10				—				—			10
	TBAs	—				1,018				—			1,018
	Interest rate lock commitments	—				—				1,222			1,222
	ARS purchase commitments	—				—				902			902
	Derivative contracts, total	363				1,018				2,124			3,505
	Total	$	78,518			$	15,373			$	2,124		$	96,015
	-1	Included in other assets on the 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 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 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	he following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2014 and 2013:
	(Expressed in thousands)
		Level 3 Assets and Liabilities
		For the Year Ended December 31, 2014
		Beginning			Total Realized			Purchases			Sales and Settlements		Transfers			Ending
		Balance			and Unrealized			and Issuances (7)					In (Out)			Balance
					Gains
					(Losses) (5)(6)
	Assets
	Municipals	236			(72	)		—			—		—			164
	Auction rate securities (1)(8)	85,124			(622	)		20,625			(13,705	)	—			91,422
	Interest rate lock commitments (2)	2,375			5,201			—			—		—			7,576
	Investments (3)	5,946			101			5,178			(1,097	)	(620	)		9,508
	Liabilities
	Interest rate lock commitments (2)	3,653			2,431			—			—		—			1,222
	ARS purchase commitments (4)	2,600			1,698			—			—		—			902
	-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 year.
	-5	Included in principal transactions on the consolidated statement of operations, except for investments which are included in other income on the consolidated statement of operations.
	-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 year for regulatory and legal ARS settlements and awards.
	(Expressed in thousands)
		Level 3 Assets and Liabilities
		For the Year Ended December 31, 2013
		Beginning				Total Realized				Purchases			Sales and Settlements				Transfers				Ending
		Balance				and Unrealized				and Issuances (8)							In (Out)				Balance
						Gains
						(Losses) (6)(7)
	Assets
	Mortgage and other asset-backed securities (1)	$	40			$	—			$	—		$	(8	)		$	(32	)		$	—
	Municipals	239				(3		)		—			—				—				236
	Auction rate securities (2)(9)	72,118				(1,409		)		21,875			(7,460		)		—				85,124
	Interest rate lock commitments (3)	—				2,375				—			—				—				2,375
	Investments (4)	12,954				929				1,414			(8,898		)		(453		)		5,946
	Liabilities
	Auction rate securities (2)	100				—				100			—				—				—
	Interest rate lock commitments (3)	—				(3,653		)		—			—				—				3,653
	ARS purchase commitments (5)	2,647				47				—			—				—				2,600
	-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	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.
	-4	Primarily represents general partner ownership and limited partner interests in hedge funds and private equity funds sponsored by the Company.
	-5	Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the year.
	-6	Included in principal transactions on the consolidated statement of operations, except for investments which are included in other income on the consolidated statement of operations.
	-7	Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date.
	-8	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.
	-9	Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the year 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 December 31, 2014
	(Expressed in thousands)									Fair Value Measurement: Assets
		As of December 31, 2014								As of December 31, 2014
		Carrying Value				Fair Value				Level 1			Level 2				Level 3				Total
	Cash	$	32,632			$	32,632			$	32,632		$	—			$	—			$	32,632
	Cash segregated for regulatory and other purposes	18,594				18,594				18,594			—				—				18,594
	Deposits with clearing organization	12,322				12,322				12,322			—				—				12,322
	Receivable from brokers, dealers and clearing organizations:
	Securities borrowed	242,172				242,172				—			242,172				—				242,172
	Receivables from brokers	38,149				38,149				—			38,149				—				38,149
	Securities failed to deliver	11,055				11,055				—			11,055				—				11,055
	Clearing organizations	21,106				21,106				—			21,106				—				21,106
	Other	1,993				1,993				—			1,993				—				1,993
		314,475				314,475				—			314,475				—				314,475
	Receivable from customers	864,189				864,189				—			864,189				—				864,189
	Securities purchased under agreements to resell	1,606				1,606				1,606			—				—				1,606
	Mortgage servicing rights	30,140				42,279				—			—				42,279				42,279
	(Expressed in thousands)									Fair Value Measurement: Liabilities
		As of December 31, 2014								As of December, 2014
		Carrying Value				Fair Value				Level 1			Level 2				Level 3				Total
	Drafts payable	$	35,373			$	35,373			$	35,373		$	—			$	—			$	35,373
	Bank call loans	59,400				59,400				59,400			—				—				59,400
	Payables to brokers, dealers and clearing organizations:
	Securities loaned	137,892				137,892				—			137,892				—				137,892
	Securities failed to receive	23,573				23,573				—			23,573				—				23,573
	Clearing organizations and other	95,696				95,696				—			95,696				—				95,696
		257,161				257,161				—			257,161				—				257,161
	Payables to customers	652,256				652,256				—			652,256				—				652,256
	Securities sold under agreements to repurchase	687,440				687,440				—			687,440				—				687,440
	Warehouse payable (1)	16,683				16,683				—			16,683				—				16,683
	Senior secured notes	150,000				157,782				—			157,782				—				157,782
	-1	Included in accounts payable and other liabilities on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows. Warehouse payable represents the warehouse line amount outstanding with the third-party commercial bank. The borrowing rates on the warehouse facility is based upon a variable interest rate of 1-month LIBOR plus a spread. The Company earns a spread between the interest earned on the loans originated by the Company and the interest incurred on amounts drawn from the warehouse facility. The warehouse facility is used in connection with funding loans held for sale which is included in other assets on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows.
	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:
	Securities borrowed	274,127				274,127				—			274,127				—				274,127
	Receivables from brokers	23,384				23,384				—			23,384				—				23,384
	Securities failed to deliver	9,628				9,628				—			9,628				—				9,628
	Clearing organizations	26,446				26,446				—			26,446				—				26,446
	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	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 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 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:
	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	Included in accounts payable and other liabilities on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows. Warehouse payable represents the warehouse line amount outstanding with the third-party commercial bank. The borrowing rates on the warehouse facility is based upon a variable interest rate of 1-month LIBOR plus a spread. The Company earns a spread between the interest earned on the loans originated by the Company and the interest incurred on amounts drawn from the warehouse facility. The warehouse facility is used in connection with funding loans held for sale which is included in other assets on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows.
-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 December 31, 2014 and 2013 by product were as follows:
	(Expressed in thousands)
		Fair Value of Derivative Instruments at December 31, 2014
		Description		Notional				Fair Value
	Assets:
	Derivatives not designated as hedging instruments (1)
	Other contracts	TBAs		$	105,185			$	1,026
		TBA sale contracts		188,178				3,509
		Interest rate lock commitments		147,521				7,576
				$	440,884			$	12,111
	Liabilities:
	Derivatives not designated as hedging instruments (1)
	Commodity contracts (2)	U.S. treasury futures		$	102,600			$	252
		Federal funds futures		3,260,000				43
		Eurodollars futures		333,000				55
		General collateral futures		140,000				3
	Other contracts	Foreign currency forward contracts		400,000				10
		TBAs		105,186				1,018
		Interest rate lock commitments		22,269				1,222
		Forward start repurchase agreements		636,000				—
		ARS purchase commitments		12,249				902
				$	5,011,304			$	3,505
	-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 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		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 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 consolidated statement of operations for the years ended December 31, 2014 and 2013:
	(Expressed in thousands)
		The Effect of Derivative Instruments on the Statement of Operations
		For the Year Ended December 31, 2014
				Recognized in Income on Derivatives
				(pre-tax)
	Types	Description		Location		Gain (Loss)
	Commodity contracts	U.S. treasury futures		Principal transactions revenue		$	(1,687	)
		Federal funds futures		Principal transactions revenue		(272		)
		Eurodollars futures		Principal transactions revenue		(161		)
		General Collateral Futures		Principal transactions revenue		11
	Other contracts	TBAs		Principal transactions revenue		(17		)
		TBA sale contracts		Other revenue		(5,530		)
		Interest rate lock commitments		Other revenue		7,632
		ARS purchase commitments		Principal transactions revenue		1,698
		Options		Other revenue		10
						$	1,684
	(Expressed in thousands)
		The Effect of Derivative Instruments on the Statement of Operations
		For the Year Ended December 31, 2013
				Recognized in Income on Derivatives
				(pre-tax)
	Types	Description		Location		Gain (Loss)
	Commodity contracts	U.S. treasury futures		Principal transactions revenue		$	906
		Federal funds futures		Principal transactions revenue		(289		)
		Eurodollars futures		Principal transactions revenue		5
	Other contracts	TBAs		Principal transactions revenue		61
		TBA sale contracts		Other revenue		2,021
		Interest rate lock commitments		Other revenue		(1,277		)
		ARS purchase commitments		Principal transactions revenue		46
						$	1,473

Collateralized_Transactions_Ta

Collateralized Transactions (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2014 and 2013:
	As of December 31, 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		Statement of			the Balance
				Financial			Sheet
				Position
	Reverse repurchase agreements	$	314,266	$	(62,660	)	$	251,606	$	(250,000	)	$	—	$	1,606
	Securities borrowed (1)	242,172		—			242,172		(234,376		)	—		7,796
	Total	$	556,438	$	(62,660	)	$	493,778	$	(484,376	)	$	—	$	9,402
	-1	Included in receivable from brokers, dealers and clearing organizations on the 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		Statement of			the Balance
				Financial			Sheet
				Position
	Repurchase agreements	$	750,100	$	(62,660	)	$	687,440	$	(686,119	)	$	—	$	1,321
	Securities loaned (2)	137,892		—			137,892		(132,258		)	—		5,634
	Total	$	887,992	$	(62,660	)	$	825,332	$	(818,377	)	$	—	$	6,955
	-2	Included in payable to brokers, dealers and clearing organizations on the 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		Statement of			the Balance
				Financial			Sheet
				Position
	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 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		Statement of			the Balance
				Financial			Sheet
				Position
	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 consolidated balance sheet.

Variable_Interest_Entities_Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2014
Variable Interest Entity [Abstract]
Variable Interest Entities	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 December 31, 2014 and 2013:
	(Expressed in thousands)
		December 31, 2014
		Total		Carrying Value of the				Capital		Maximum
		VIE Assets (1)		Company’s Variable Interest				Commitments		Exposure
										to Loss in
										Non-consolidated
				Assets (2)		Liabilities				VIEs
	Hedge funds	$	1,955,515	$	1,584	$	—	$	—	$	1,584
	Private equity funds	66,400		27		—		2		29
	Total	$	2,021,915	$	1,611	$	—	$	2	$	1,613
	-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 consolidated balance sheet.
	(Expressed in thousands)
		December 31, 2013
		Total		Carrying Value of the				Capital		Maximum
		VIE Assets (1)		Company’s Variable Interest				Commitments		Exposure
										to Loss in
										Non-consolidated
				Assets (2)		Liabilities				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 consolidated balance sheet.

Commercial_Mortgage_Banking_Ta

Commercial Mortgage Banking (Tables)	12 Months Ended
	Dec. 31, 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 at December 31, 2014 and 2013:
	(Expressed in thousands)
		2014			2013
	Unpaid principal balance of loans	$	4,134,894		$	3,885,437
Summary of Changes in Carrying Value of Mortgage Servicing Rights	The following tables summarize the changes in carrying value of MSRs for the years ended December 31, 2014 and 2013:
	(Expressed in thousands)
		Year Ended December 31,
		2014			2013
	Balance at beginning of year	$	28,879		$	26,983
	Originations (1)	5,956			7,351
	Purchases	345			1,344
	Disposals (1)	(2,221		)	(4,918		)
	Amortization expense	(2,819		)	(1,881		)
	Balance at end of year	$	30,140		$	28,879
	-1	Includes refinancings
Schedule of Amortization Expense	Servicing rights are amortized using the straight-line method over 10 years. Estimated amortization expense for the next five years and thereafter is as follows:
	(Expressed in thousands)
		Originated MSRs			Purchased MSRs			Total MSRs
	2015	$	2,954		$	1,285		$	4,240
	2016	2,953			1,285			4,238
	2017	2,947			1,283			4,230
	2018	2,921			1,272			4,193
	2019	2,819			1,207			4,026
	Thereafter	7,181			2,032			9,213
		$	21,775		$	8,364		$	30,140
Components of Mortgage Servicing Rights Fees	The Company receives fees during the course of servicing the mortgage loans. The amount of these fees for the years ended December 31, 2014, 2013 and 2012 was as follows:
	(Expressed in thousands)
		For the Year Ended December 31,
		2014			2013			2012
	Servicing fees	$	5,552		$	5,049		$	4,177
	Ancillary fees	328			528			537
	Total MSR fees	$	5,880		$	5,577		$	4,714

Office_Facilities_Tables

Office Facilities (Tables)	12 Months Ended
	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Schedule of Office Facilities
	(Expressed in thousands)
		Year Ended December 31,
		2014			2013
	Furniture, fixtures and equipment	$	78,940		$	76,857
	Leasehold improvements	54,196			53,200
	Total	133,136			130,057
	Less accumulated depreciation	(103,547		)	(97,118		)
	Total	$	29,589		$	32,939

Bank_Call_Loans_Tables

Bank Call Loans (Tables)	12 Months Ended
	Dec. 31, 2014
Bank Call Loans [Abstract]
Summary of Bank Call Loans	Bank call loans, primarily payable on demand, bear interest at various rates but not exceeding the broker call rate, which was 2.0% at December 31, 2014 (2.0% at December 31, 2013). Details of the bank call loans are as follows:
	(Expressed in thousands, except percentages)
		2014			2013
	Year-end balance	$	59,400		$	118,200
	Weighted interest rate (at end of year)	1.22		%	1.28		%
	Maximum balance (at any month-end)	197,000			266,300
	Average amount outstanding (during the year)	108,235			164,434
	Average interest rate (during the year)	1.26		%	1.25		%

LongTerm_Debt_Tables

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Schedule of Long-Term Debt
	(Expressed in thousands)
	Issued	Maturity Date	December 31, 2014		December 31, 2013
	Senior Secured Notes	4/15/18	$	150,000	$	195,000

Share_Capital_Tables

Share Capital (Tables)	12 Months Ended
	Dec. 31, 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:
		2014	2013
	Class A Stock outstanding, beginning of year	13,377,967	13,508,318
	Issued pursuant to shared-based compensation plans (Note 15)	152,721	70,227
	Repurchased and canceled pursuant to the stock buy-back	—	(200,578	)
	Class A Stock outstanding, end of year	13,530,688	13,377,967

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2014
Earnings Per Share [Abstract]
Summary of Earnings Per Share	Earnings per share has been calculated as follows:
	(Expressed in thousands, except number of shares and per share amounts)
		For the Year Ended December 31,
		2014		2013		2012
	Basic weighted average number of shares outstanding	13,604,258		13,577,725		13,602,205
	Net dilutive effect of warrant, treasury method (1)	—		—		—
	Net dilutive effect of share-based awards, treasury method (2)	646,405		546,335		—
	Diluted weighted average number of shares outstanding	14,250,663		14,124,060		13,602,205
	Net income (loss) for the year	$	9,561	$	26,153	$	(851	)
	Net income attributable to non-controlling interest, net of tax	735		1,092		2,762
	Net income (loss) attributable to Oppenheimer Holdings Inc.	$	8,826	$	25,061	$	(3,613	)
	Basic earnings per share	$	0.65	$	1.85	$	(0.27	)
	Diluted earnings per share	$	0.62	$	1.77	$	(0.27	)
	-1	As part of the consideration for the 2008 acquisition of certain businesses from CIBC World Markets Corp. (“CIBC”), the Company issued a warrant to CIBC to purchase 1 million shares of Class A Stock of the Company at $48.62 per share exercisable five years from the January 14, 2008 acquisition date. The warrants expired on April 13, 2013. For the year ended December 31, 2012, the effect of the warrants was anti-dilutive.
	-2	For the year ended December 31, 2014, the diluted earnings per share computation does not include the anti-dilutive effect of 43,008 shares of Class A Stock granted under share-based compensation arrangements (57,573 and 1,936,871 shares of Class A Stock granted under share-based compensation arrangements together with the warrant described in (1) for the years ended December 31, 2013 and 2012, respectively).

Income_taxes_Tables

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Schedule of Reconciliation of Effective Income Tax Rate	The income tax provision shown in the consolidated statements of operations is reconciled to amounts of tax that would have been payable (recoverable) from the application of the federal tax rate to pre-tax profit, as follows:
	(Expressed in thousands)
		For the Year Ended December 31,
		2014						2013						2012
		Amount			Percentage			Amount				Percentage		Amount			Percentage
	U.S. federal statutory income tax rate	$	9,008		35	%		$	15,368			35	%	$	(184	)	35	%
	U.S. state and local income taxes, net of U.S. federal income tax benefits	2,033			7.9	%		2,131				4.9	%	(1,585		)
	Unrecognized tax benefit	6			—	%		1,244				2.8	%	1,524
	Tax exempt income, net of interest expense	(528		)	-2	%		(715		)		-1.6	%	(561		)
	Non-deductible regulatory settlements	5,298			20.6	%		—				—	%	306
	Business promotion and other non-deductible expenses	655			2.5	%		660				1.5	%	545
	Insurance proceeds, non-taxable	(65		)	-0.3	%		(597		)		-1.4	%	(349		)
	Adjustment to reflect prior year tax return filings	256			1	%		(251		)		-0.6	%	(294		)
	Tax rate change on deferred income taxes	241			0.9	%		208				0.5	%	390
	Non-U.S. operations	(447		)	-1.7	%		185				0.4	%	678
	Other	(282		)	-1.1	%		(477		)		-1.1	%	(146		)
	Total income tax expense	$	16,175		62.8	%		$	17,756			40.4	%	$	324		n/m
	n/m =ot meaningful
Schedule of Current and Deferred Income Tax (Benefit)	Income taxes included in the consolidated statements of operations represent the following:
	(Expressed in thousands)
		For the Year Ended December 31,
		2014			2013				2012
	Current:
	U.S. federal tax (benefit)	$	10,302		$	(2,984	)		$	19,918
	State and local tax	1,520			1,885				2,765
	Non-U.S. operations	(264		)	116				(61		)
	Total Current	11,558			(983		)		22,622
	Deferred:
	U.S. federal tax (benefit)	1,273			16,658				(17,303		)
	State and local tax (benefit)	2,057			2,482				(4,890		)
	Non-U.S. operations	1,287			(401		)		(105		)
	Total Deferred	4,617			18,739				(22,298		)
	Total	$	16,175		$	17,756			$	324
Schedule of Significant Components of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities at December 31, 2014 and 2013 were as follows:
	(Expressed in thousands)
		For the Year Ended December 31,
		2014			2013
	Deferred tax assets:
	Employee deferred compensation plans	$	30,969		$	31,213
	Deferred rent	10,024			10,451
	Lease incentive	6,212			6,693
	Broker notes	3,460			3,915
	Auction rate securities reserve	3,229			3,669
	Net operating loss	2,896			4,587
	Involuntary conversion	2,033			1,866
	Reserve for litigation and legal fees	5,808			1,659
	Allowance for doubtful accounts	984			1,002
	State and local net operating loss/credit carryforward	357			1,993
	Other	2,650			2,757
	Total deferred tax assets	68,622			69,805
	Valuation allowance	113			138
	Deferred tax assets after valuation allowance	68,509			69,667
	Deferred tax liabilities:
	Goodwill amortization (Section 197)	48,025			43,728
	Partnership investments	10,865			12,039
	Mortgage servicing rights	12,173			9,889
	Company owned life insurance	6,501			5,173
	Change in accounting method	2,591			3,895
	Book versus tax depreciation differences	982			1,437
	Other	469			602
	Total deferred tax liabilities	81,606			76,763
	Deferred tax liabilities, net	$	(13,097	)	$	(7,096	)
Schedule of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefit follows:
	(Expressed in thousands)
		2014			2013				2012
	Balance at January 1,	$	1,574		$	5,236			$	2,317
	Additions for tax positions of prior years	—			1,168				2,919
	Additions for tax positions of current year	9			77				—
	Reclass to other tax accounts	—			(4,907		)		—
	Balance at December 31,	$	1,583		$	1,574			$	5,236

Employee_Compensation_Plans_Ta

Employee Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summarizes of Company's Non-Vested ESP/EIP Awards	The following table summarizes the status of the Company’s non-vested restricted Class A Stock awards under the EIP, ESP and OIP for the year ended December 31, 2014:
		Number of Class			Weighted				Remaining
		A Shares			Average Fair				Contractual
		Subject to			Value				Life
		Restricted Stock  Awards
	Nonvested at beginning of year	1,247,476			$	17.87			2.0 Years
	Granted	345,260			22.26				2.2 Years
	Vested	(219,180	)		11.72				—
	Forfeited or expired	(134,210	)		18.43				—
	Nonvested at end of year	1,239,346			$	20.12			1.7 Years
Schedule of Fair Value of Awarded Stock Option Estimated on Grant Date Using Black-Scholes Model	The fair value of each award of stock options was estimated on the grant date using the Black-Scholes model with the following assumptions:
						Grant Date Assumptions
		2014				2013				2012			2011			2010
	Expected term (1)	5 years				5 years				5 years			5 years			4.5 years
	Expected volatility factor (2)	56.31		%		53.82		%		54.95		%	52.52		%	48.58		%
	Risk-free interest rate (3)	1.49		%		0.84		%		0.7		%	2		%	2.62		%
	Actual dividends (4)	$	0.44			$	0.44			$	0.44		$	0.44		$	0.44
	-1	The expected term was determined based on actual awards.
	-2	The volatility factor was measured using the weighted average of historical daily price changes of the Company’s Class A Stock over a historical period commensurate to the expected term of the awards.
	-3	The risk-free interest rate was based on periods equal to the expected term of the awards based on the U.S. Treasury yield curve in effect at the time of grant.
	-4	Actual dividends were used to compute the expected annual dividend yield.
Schedule of Stock Option Activity	Stock option activity under the OIP and EIP since January 1, 2013 is summarized as follows:
		Year Ended December 31,
		2014								2013
		Number of				Weighted Average				Number of			Weighted Average
		Options				Exercise Price				Options			Exercise Price
	Options outstanding at beginning of year	72,573				$	24.46			86,803			$	23.35
	Options granted	2,976				23.49				951			17.2
	Options exercised	(15,000		)		12.33				(12,165		)	12.3
	Options forfeited or expired	(15,000		)		33.22				(3,016		)	39.45
	Options outstanding at end of year	45,549				$	25.5			72,573			$	24.46
	Options vested at end of year	30,513				$	25.99			45,683			$	23.34
	Weighted average fair value of options granted during the year	$	9.94							$	6.6
Summarizes Stock Options Outstanding and Exercisable	The following table summarizes stock options outstanding and exercisable as of December 31, 2014:
	Range of Exercise Prices	Number of			Weighted		Weighted				Number of		Weighted
		Options			Average		Average				Options		Average
		Outstanding			Remaining		Exercise Price of				Exercisable		Exercise Price of
					Contractual Life		Outstanding				(Vested)		Vested Options
							Options
	$17.20 - $25.00	8,216			2.28 Years		$	22.45			3,097		$	24.27
	$25.01 - $26.21	37,333			1.00 Year		26.18				27,416		26.19
	$17.20 - $26.21	45,549			1.23 Years		$	25.5			30,513		$	25.99
Summarizes of Company's Non-Vested Options	The following table summarizes the status of the Company’s non-vested options for the year ended December 31, 2014:
		Number of			Weighted
		Options			Average Fair
					Value
	Nonvested at beginning of year	26,890			$	10.86
	Granted	2,976			9.94
	Vested	(14,830	)		11.38
	Nonvested at end of year	15,036			$	10.17
Stock Appreciation Rights	The following table summarized the status of the Company’s outstanding OARs awards as of December 31, 2014:
	Grant Date	Number of			Strike Price				Remaining		Fair Value at
		OARs							Contractual		December 31, 2014
		Outstanding							Life
	January 19, 2010	235,890			$	30.68			18 Days		$	—
	January 13, 2011	326,480			26.35				1 Year		1.63
	January 19, 2012	366,650			18.94				2 Years		5.71
	January 14, 2013	403,340			15.94				3 Years		8.36
	January 14, 2014	508,550			23.48				4 Years		6.94
		1,840,910
	Total weighted average values				$	22.36			2.4 Years		$	5.17

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Rental Commitments under Office and Equipment Leases	Future minimum rental commitments under such office and equipment leases as at December 31, 2014 are as follows.
	(Expressed in thousands)
	2015	$	40,807
	2016	38,318
	2017	33,833
	2018	31,779
	2019	26,302
	2020 and thereafter	130,362
		$	301,401

Segment_Information_Tables

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2014
Segment Reporting [Abstract]
Reported Revenue and Profit Before Income Taxes	The table below presents information about the reported revenue and net income (loss) before taxes of the Company for the years ended December 31, 2014, 2013 and 2012. 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)
		For the Year Ended December 31,
		2014			2013			2012
	Revenue
	Private client (1)	$	582,364		$	600,071		$	550,797
	Asset management (1)	99,964			102,214			84,160
	Capital markets	298,597			281,377			283,139
	Commercial mortgage banking	23,329			34,144			35,682
	Corporate/Other	210			1,908			(1,166		)
	Total	$	1,004,464		$	1,019,714		$	952,612
	Income (loss) before income taxes
	Private client (1)	$	60,116		$	65,924		$	53,487
	Asset management (1)	33,707			40,951			25,436
	Capital markets	17,819			6,968			(15,324		)
	Commercial mortgage banking	8,546			11,413			15,267
	Corporate/Other	(94,452		)	(81,347		)	(79,393		)
	Total	$	25,736		$	43,909		$	(527	)
	-1	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 years ended December 31, 2014, 2013 and 2012 was as follows:
	(Expressed in thousands)
		Year Ended December,
		2014			2013			2012
	Americas	$	955,361		$	978,249		$	916,568
	Europe/Middle East	43,087			36,516			34,913
	Asia	6,016			4,949			1,131
	Total	$	1,004,464		$	1,019,714		$	952,612

Quarterly_Information_Tables

Quarterly Information (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Information
	(Expressed in thousands, except per share amounts)
		Fiscal Quarters
	Year Ended December 31, 2014	Fourth		Third		Second			First		Year
	Revenue	$	254,928	$	244,679	$	249,689		$	255,168	$	1,004,464
	Income before income taxes	9,595		10,896		136			5,109		25,736
	Net income attributable to Oppenheimer Holdings Inc.	2,686		4,470		(1,554		)	3,224		8,826
	Earnings per share attributable to Oppenheimer Holdings Inc.
	Basic	0.2		0.33		(0.11		)	0.24		0.65
	Diluted	0.19		0.31		(0.11		)	0.23		0.62
	Dividends per share	0.11		0.11		0.11			0.11		0.44
	Market price of Class A Stock (1)
	High	24.7		24.8		28.86			29.75		29.75
	Low	19.97		19.76		21.28			22.26		19.76
	-1	The price quotations above were obtained from the New York Stock Exchange website.
	(Expressed in thousands, except per share amounts)
		Fiscal Quarters
	Year Ended December 31, 2013	Fourth		Third		Second			First		Year
	Revenue	$	293,362	$	243,376	$	243,830		$	239,146	$	1,019,714
	Income before income taxes	23,359		8,163		5,674			6,713		43,909
	Net income attributable to Oppenheimer Holdings Inc.	13,313		5,237		2,848			3,663		25,061
	Earnings per share attributable to Oppenheimer Holdings Inc.
	Basic	0.99		0.38		0.21			0.27		1.85
	Diluted	0.94		0.37		0.2			0.26		1.77
	Dividends per share	0.11		0.11		0.11			0.11		0.44
	Market price of Class A Stock (1)
	High	24.8		19.75		20			21		24.8
	Low	16.66		16.52		16.75			15.69		15.69
	-1	The price quotations above were obtained from the New York Stock Exchange website.

Supplemental_Guarantor_Consoli1

Supplemental Guarantor Consolidated Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING BALANCE SHEET
	AS OF DECEMBER 31, 2014
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	ASSETS
	Cash and cash equivalents	$	439		$	1,557		$	61,811		$	—		$	63,807
	Cash and securities segregated for regulatory and other purposes	—			—			18,594			—			18,594
	Deposits with clearing organizations	—			—			36,510			—			36,510
	Receivable from brokers, dealers and clearing organizations	—			—			314,475			—			314,475
	Receivable from customers, net of allowance for credit losses of $2,427	—			—			864,189			—			864,189
	Income tax receivable	28,070			27,304			—			(51,134		)	4,240
	Securities purchased under agreements to resell	—			—			251,606			—			251,606
	Securities owned, including amounts pledged of $518,123 at fair value	—			5,806			837,349			—			843,155
	Notes receivable, net of accumulated amortization and allowance for uncollectibles of $42,211 and $8,606, respectively	—			—			34,932			—			34,932
	Office facilities, net of accumulated depreciation of $103,547	—			20,181			9,408			—			29,589
	Loans held for sale	—			—			19,243			—			19,243
	Mortgage servicing rights	—			—			30,140			—			30,140
	Subordinated loan receivable	—			112,558			—			(112,558		)	—
	Intangible assets	—			—			31,700			—			31,700
	Goodwill	—			—			137,889			—			137,889
	Other assets	1,686			3,803			101,897			—			107,386
	Deferred tax assets	18			309			27,973			(28,300		)	—
	Investment in subsidiaries	565,257			544,576			—			(1,109,833		)	—
	Intercompany receivables	87,442			—			—			(87,442		)	—
	Total assets	$	682,912		$	716,094		$	2,777,716		$	(1,389,267	)	$	2,787,455
	LIABILITIES AND STOCKHOLDERS’ EQUITY
	Liabilities
	Drafts payable	$	—		$	—		$	35,373		$	—		$	35,373
	Bank call loans	—			—			59,400			—			59,400
	Payable to brokers, dealers and clearing organizations	—			—			257,161			—			257,161
	Payable to customers	—			—			652,256			—			652,256
	Securities sold under agreements to repurchase	—			—			687,440			—			687,440
	Securities sold, but not yet purchased, at fair value	—			—			92,510			—			92,510
	Accrued compensation	—			—			165,134			—			165,134
	Accounts payable and other liabilities	2,828			35,800			102,724			—			141,352
	Income tax payable	2,440			22,189			26,505			(51,134		)	—
	Senior secured notes	150,000			—			—			—			150,000
	Subordinated indebtedness	—			—			112,558			(112,558		)	—
	Deferred tax liabilities	—			88			41,309			(28,300		)	13,097
	Intercompany payables	—			76,492			10,950			(87,442		)	—
	Total liabilities	155,268			134,569			2,243,320			(279,434		)	2,253,723
	Stockholders’ equity
	Stockholders’ equity attributable to Oppenheimer Holdings Inc.	527,644			581,525			528,308			(1,109,833		)	527,644
	Non-controlling interest	—			—			6,088			—			6,088
	Total stockholders’ equity	527,644			581,525			534,396			(1,109,833		)	533,732
	Total liabilities and stockholders’ equity	$	682,912		$	716,094		$	2,777,716		$	(1,389,267	)	$	2,787,455
	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			—			(40,521		)	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
	Notes receivable, net of accumulated amortization and allowance for uncollectibles of $54,465 and $9,718, respectively	—			—			40,751			—			40,751
	Office facilities, net of accumulated depreciation of $97,118	—			21,250			11,689			—			32,939
	Loans held for sale	—			—			75,989			—			75,989
Mortgage servicing rights	—			—			28,879			—			28,879
Subordinated loan receivable	—			112,558			—			(112,558		)	—
Intangible assets	—			—			31,700			—			31,700
Goodwill	—			—			137,889			—			137,889
Other assets	2,797			27,113			135,150			—			165,060
Deferred tax assets	678			309			29,496			(30,483		)	—
Investment in subsidiaries (1)	546,755			562,248			—			(1,109,003		)	—
Intercompany receivables	153,528			—			—			(153,528		)	—
Total assets	$	723,700		$	784,193		$	2,890,920		$	(1,446,093	)	$	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			15,892			(40,521		)	—
Senior secured notes	195,000			—			—			—			195,000
Subordinated indebtedness	—			—			112,558			(112,558		)	—
Deferred tax liabilities	—			—			37,579			(30,483		)	7,096
Intercompany payables	—			133,421			20,107			(153,528		)	—
Total liabilities	201,182			214,899			2,345,946			(337,178		)	2,424,849
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc. (1)	522,518			569,294			539,621			(1,108,915		)	522,518
Noncontrolling interest	—			—			5,353			—			5,353
Total stockholders’ equity	522,518			569,294			544,974			(1,108,915		)	527,871
Total liabilities and stockholders’ equity	$	723,700		$	784,193		$	2,890,920		$	(1,446,093	)	$	2,952,720
-1	The Company revised amounts previously disclosed as Investment in Subsidiaries and Total Shareholders’ Equity in the Condensed Consolidating Balance Sheet to properly reflect investments in subsidiaries. Offsetting amounts were adjusted in the eliminations column.
Condensed Consolidating Statement of Operations	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	FOR THE YEAR ENDED DECEMBER 31, 2014
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	REVENUES
	Commissions	$	—		$	—		$	469,829		$	—		$	469,829
	Advisory fees	—			1,139			283,785			(3,244		)	281,680
	Investment banking	—			—			125,598			—			125,598
	Interest	—			10,482			49,193			(10,431		)	49,244
	Principal transactions, net	—			164			29,535			—			29,699
	Other	—			477			48,362			(425		)	48,414
	Total revenue	—			12,262			1,006,302			(14,100		)	1,004,464
	EXPENSES
	Compensation and related expenses	1,047			—			663,594			—			664,641
	Communications and technology	145			—			67,025			—			67,170
	Occupancy and equipment costs	—			—			63,437			(425		)	63,012
	Clearing and exchange fees	—			—			24,709			—			24,709
	Interest	14,401			—			13,831			(10,431		)	17,801
	Other	4,626			733			139,280			(3,244		)	141,395
	Total expenses	20,219			733			971,876			(14,100		)	978,728
	Income (loss) before income taxes	(20,219		)	11,529			34,426			—			25,736
	Income tax provision (benefit)	(7,917		)	3,971			20,121			—			16,175
	Equity in earnings of subsidiaries	21,128			13,570			—			(34,698		)	—
	Net income for the year	8,826			21,128			14,305			(34,698		)	9,561
	Less net income attributable to non-controlling interest, net of tax	—			—			735			—			735
	Net income attributable to Oppenheimer Holdings Inc.	8,826			21,128			13,570			(34,698		)	8,826
	Other comprehensive income (loss)	—			—			(2,627		)	—			(2,627		)
	Total comprehensive income	$	8,826		$	21,128		$	10,943		$	(34,698	)	$	6,199
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	FOR THE YEAR ENDED DECEMBER 31, 2013
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	REVENUES
	Commissions	$	—		$	—		$	486,767		$	—		$	486,767
	Advisory fees	—			825			276,913			(3,560		)	274,178
	Investment banking	—			—			97,977			—			97,977
	Interest	5			11,128			53,401			(11,318		)	53,216
	Principal transactions, net	—			79			43,689			—			43,768
	Other	—			180			63,808			(180		)	63,808
	Total revenue	5			12,212			1,022,555			(15,058		)	1,019,714
	EXPENSES
	Compensation and related expenses	1,124			—			674,812			—			675,936
	Communications and technology	119			—			65,698			—			65,817
	Occupancy and equipment costs	—			—			66,938			(180		)	66,758
	Clearing and exchange fees	—			—			24,481			—			24,481
	Interest	17,500			—			19,960			(11,318		)	26,142
	Other	1,309			522			118,400			(3,560		)	116,671
	Total expenses	20,052			522			970,289			(15,058		)	975,805
	Income (loss) before income taxes	(20,047		)	11,690			52,266			—			43,909
	Income tax provision (benefit)	(7,110		)	5,638			19,228			—			17,756
	Equity in earnings of subsidiaries (1)	37,998			31,946			—			(69,944		)	—
	Net income for the year	25,061			37,998			33,038			(69,944		)	26,153
	Less net income attributable to non-controlling interest, net of tax	—			—			1,092			—			1,092
	Net income attributable to Oppenheimer Holdings Inc.	25,061			37,998			31,946			(69,944		)	25,061
	Other comprehensive income (loss)	(3		)	—			1,505			—			1,502
	Total comprehensive income	$	25,058		$	37,998		$	33,451		$	(69,944	)	$	26,563
	-1	The Company revised amounts in Equity in Earnings of Subsidiaries in the Condensed Consolidating Statement of Operations to properly reflect investments in subsidiaries. Offsetting amounts were adjusted in the eliminations column.
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	FOR THE YEAR ENDED DECEMBER 31, 2012
	(Expressed in thousands)	Parent			Guarantor			Non-guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
REVENUES
Commissions	$	—		$	—		$	469,865		$	—		$	469,865
Advisory fees	—			—			225,226			(2,494		)	222,732
Investment banking	—			—			89,477			—			89,477
Interest	—			12,070			57,452			(11,860		)	57,662
Principal transactions, net	—			752			53,559			—			54,311
Other	—			168			58,565			(168		)	58,565
Total revenue	—			12,990			954,144			(14,522		)	952,612
EXPENSES
Compensation and related expenses	397			—			626,014			—			626,411
Communications and technology	81			—			63,278			—			63,359
Occupancy and equipment costs	—			—			62,986			(168		)	62,818
Clearing and exchange fees	—			—			23,750			—			23,750
Interest	17,500			—			29,447			(11,861		)	35,086
Other	1,475			60			142,673			(2,493		)	141,715
Total expenses	19,453			60			948,148			(14,522		)	953,139
Income (loss) before income taxes	(19,453		)	12,930			5,996			—			(527		)
Income tax provision (benefit)	(6,315		)	6,093			546			—			324
Equity in earnings of subsidiaries	9,525			—			—			(9,525		)	—
Net income (loss) for the year	(3,613		)	6,837			5,450			(9,525		)	(851		)
Less net income attributable to non-controlling interest, net of tax	—			—			2,762			—			2,762
Net income (loss) attributable to Oppenheimer Holdings Inc.	(3,613		)	6,837			2,688			(9,525		)	(3,613		)
Other comprehensive income	—			—			415			—			415
Total comprehensive income (loss)	$	(3,613	)	$	6,837		$	3,103		$	(9,525	)	$	(3,198	)
Condensed Consolidating Statement of Cash Flows	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
	FOR THE YEAR ENDED DECEMBER 31, 2014
	(Expressed in thousands)	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	Cash flows from operating activities:
	Cash provided by (used in) continuing operations	$	49,595		$	(29,344	)	$	58,064		$	—		$	78,315
	Cash flows from investing activities
	Purchase of office facilities	—			—			(4,398		)	—			(4,398		)
	Cash used in investing activities	—			—			(4,398		)	—			(4,398		)
	Cash flows from financing activities
	Cash dividends paid on Class A non-voting and Class B voting common stock	(5,983		)	—			—			—			(5,983		)
	Issuance of Class A non-voting common stock	185			—			—			—			185
	Tax benefit from share-based awards	1,194			—			—			—			1,194
	Redemption of senior secured notes	(45,000		)	—			—			—			(45,000		)
	Decrease in bank call loans, net				—			(58,800		)	—			(58,800		)
	Cash flow used in financing activities	(49,604		)	—			(58,800		)	—			(108,404		)
	Net decrease in cash and cash equivalents	(9		)	(29,344		)	(5,134		)	—			(34,487		)
	Cash and cash equivalents, beginning of the year	448			30,901			66,945			—			98,294
	Cash and cash equivalents, end of the year	$	439		$	1,557		$	61,811		$	—		$	63,807
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
	FOR THE YEAR ENDED DECEMBER 31, 2013
	(Expressed in thousands)	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	Cash flows from operating activities:
	Cash provided by (used in) continuing operations	$	9,944		$	(9,757	)	$	(3,616	)	$	—		$	(3,429	)
	Cash flows from investing activities
	Purchase of office facilities	—			—			(14,012		)	—			(14,012		)
	Cash used in investing activities	—			—			(14,012		)	—			(14,012		)
	Cash flows from financing activities
	Cash dividends paid on Class A non-voting and Class B voting common stock	(5,978		)	—			—			—			(5,978		)
	Issuance of Class A non-voting common stock	150			—			—			—			150
	Repurchase of Class A non-voting common stock for cancellation	(3,625		)	—			—			—			(3,625		)
	Tax deficiency from share-based awards	(78		)	—			—			—			(78		)
	Decrease in bank call loans, net	—			—			(10,100		)	—			(10,100		)
	Cash flow used in financing activities	(9,531		)	—			(10,100		)	—			(19,631		)
	Net increase (decrease) in cash and cash equivalents	413			(9,757		)	(27,728		)	—			(37,072		)
	Cash and cash equivalents, beginning of the year	35			40,658			94,673			—			135,366
	Cash and cash equivalents, end of the year	$	448		$	30,901		$	66,945		$	—		$	98,294
	OPPENHEIMER HOLDINGS INC.
	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
	FOR THE YEAR ENDED DECEMBER 31, 2012
	(Expressed in thousands)	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
					subsidiaries			Subsidiaries
	Cash flows from operations:
	Cash provided by (used in) continuing operations	$	6,052		$	31,776		$	(47,280	)	$	—		$	(9,452	)
	Cash flows from investing activities
	Purchase of office facilities	—			—			(14,739		)	—			(14,739		)
	Cash used in investing activities	—			—			(14,739		)	—			(14,739		)
	Cash flows from financing activities
	Cash dividends paid on Class A non-voting and Class B voting common stock	(5,986		)	—			—			—			(5,986		)
	Repurchase of Class A non-voting common stock for cancellation	(1,866		)	—			—			—			(1,866		)
	Tax deficiency from share-based awards	(720		)	—			—			—			(720		)
	Acquisition of non-controlling interest	—			(3,000		)	—			—			(3,000		)
	Increase in bank call loans, net	—			—			100,800			—			100,800
	Cash flow provided by (used in) financing activities	(8,572		)	(3,000		)	100,800			—			89,228
	Net increase (decrease) in cash and cash equivalents	(2,520		)	28,776			38,781			—			65,037
	Cash and cash equivalents, beginning of the year	2,555			11,882			55,892			—			70,329
	Cash and cash equivalents, end of the year	$	35		$	40,658		$	94,673		$	—		$	135,366

Organization_Additional_Inform

Organization - Additional Information (Narrative) (Details)	Dec. 31, 2014
	jurisdiction
Organization And Basis Of Presentation [Line Items]
Number of foreign jurisdiction	6
Americas
Organization And Basis Of Presentation [Line Items]
Number of offices providing services	92
Number of states which operates	24

Summary_of_Significant_Account2

Summary of Significant Accounting Policies - Additional Information (Narrative) (Details) (USD $)	0 Months Ended	12 Months Ended
	Sep. 28, 2012	Dec. 31, 2014	Dec. 31, 2013
Summary Of Significant Accounting Policies [Line Items]
Purchase of additional shares of OMHHF	$3,000,000
Purchase percentage of additional shares of OMHHF	16.32%
Company owned OMHHF		83.68%
Non-controlling interest		6,088,000	5,353,000
Carrying value of intangibles		31,700,000	31,700,000
Amortization of mortgage servicing rights period		10 years
Cash equivalents maximum maturity period of highly liquid investments		90 days
Minimum
Summary Of Significant Accounting Policies [Line Items]
Loan forgiven over service period		3 years
Minimum | Furniture, fixtures and equipment
Summary Of Significant Accounting Policies [Line Items]
Depreciation and amortization on straight-line basis		3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Loan forgiven over service period		5 years
Maximum | Furniture, fixtures and equipment
Summary Of Significant Accounting Policies [Line Items]
Depreciation and amortization on straight-line basis		7 years
Securities
Summary Of Significant Accounting Policies [Line Items]
Number of business days for related transactions		3 days
Commodities
Summary Of Significant Accounting Policies [Line Items]
Number of business days for related transactions		1 day
Trademarks and Trade Name
Summary Of Significant Accounting Policies [Line Items]
Carrying value of intangibles		$31,700,000

Cash_and_Securities_Segregated1

Cash and Securities Segregated for Regulatory and Other Purposes - Additional Information (Narrative) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Brokers and Dealers [Abstract]
Deposits held in special reserve bank accounts	$17.70	$35.50

Recovered_Sheet1

Receivable from and Payable to Brokers, Dealers and Clearing Organizations (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Receivable from brokers, dealers and clearing organizations consist of:
Securities borrowed	$242,172	$274,127
Receivable from brokers	38,149	23,384
Securities failed to deliver	11,055	9,628
Clearing organizations	21,106	26,446
Omnibus accounts	0	18,086
Other	1,993	13,202
Receivables from broker, dealers and clearing organizations	314,475	364,873
Payable to brokers, dealers and clearing organizations consist of:
Securities loaned	137,892	211,621
Securities failed to receive	23,573	5,346
Clearing organizations and other	95,696	6,348
Payable to brokers, dealers and clearing organizations	$257,161	$223,315

Fair_Value_Measurements_Securi

Fair Value Measurements - Securities Owned and Securities Sold, But Not Yet Purchased at Fair Value (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned	$843,155	$856,088
Securities Sold	92,510	76,314
U.S. Government, agency and sovereign obligations
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned	570,607	596,114
Securities Sold	30,615	11,889
Corporate debt and other obligations
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned	19,795	14,673
Securities Sold	2,646	4,847
Mortgage and other asset-backed securities
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned	6,689	3,395
Securities Sold	255	7
Municipal obligations
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned	60,833	40,166
Securities Sold	51	72
Convertible bonds
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned	49,813	53,719
Securities Sold	11,369	13,922
Corporate equities
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned	42,751	61,634
Securities Sold	47,574	45,336
Money markets
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned	1,245	1,263
Securities Sold	0	241
Auction rate securities
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities Owned	91,422	85,124
Securities Sold	$0	$0

Fair_Value_Measurements_Quanti

Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	$110,799
Valuation Adjustment	8,030
Fair Value	102,769
Auction Rate Securities Owned
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	98,550	[1]
Valuation Adjustment	7,128	[1]
Fair Value	91,422	[1]
Auction Rate Securities Owned | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	77,025	[1]
Valuation Adjustment	4,339	[1]
Fair Value	72,686	[1]
Valuation Technique	Discounted Cash Flow	[1]
Duration	4 years	[1]
Auction Rate Securities Owned | Municipal Auction Rate Securities 01
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	11,475	[1]
Valuation Adjustment	1,157	[1]
Fair Value	10,318	[1]
Valuation Technique	Discounted Cash Flow	[1]
Discount Rate	2.64%	[1],[2]
Duration	4 years 6 months	[1]
Current Yield	0.23%	[1],[3]
Auction Rate Securities Owned | Municipal Auction Rate Securities 02
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	5,975	[1]
Valuation Adjustment	627	[1]
Fair Value	5,348	[1]
Valuation Technique	Secondary Market Trading Activity	[1]
Observable trades in inactive market for in portfolio securities	89.50%	[1]
Auction Rate Securities Owned | Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	450	[1]
Valuation Adjustment	66	[1]
Fair Value	384	[1]
Valuation Technique	Discounted Cash Flow	[1]
Discount Rate	3.17%	[1],[4]
Duration	7 years	[1]
Current Yield	0.79%	[1],[3]
Auction Rate Securities Owned | Other Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	3,625	[1],[5]
Valuation Adjustment	939	[1],[5]
Fair Value	2,686	[1],[5]
Valuation Technique	Secondary Market Trading Activity	[1],[5]
Observable trades in inactive market for in portfolio securities	74.11%	[1],[5]
Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Duration	4 years	[6]
Auction Rate Securities Purchase Commitment | Municipal Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.64%	[2],[6]
Duration	4 years 6 months	[6]
Current Yield	0.23%	[3],[6]
Auction Rate Securities Purchase Commitment | Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	3.17%	[4],[6]
Duration	7 years	[6]
Current Yield	0.79%	[3],[6]
Minimum | Auction Rate Securities Owned | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	1.50%	[1],[7]
Current Yield	0.01%	[1],[3]
Minimum | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	1.50%	[6],[7]
Current Yield	0.12%	[3],[6]
Maximum | Auction Rate Securities Owned | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.04%	[1],[7]
Current Yield	0.48%	[1],[3]
Maximum | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.04%	[6],[7]
Current Yield	0.48%	[3],[6]
Weighted Average | Auction Rate Securities Owned | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	1.78%	[1],[7]
Duration	4 years	[1]
Current Yield	0.30%	[1]
Weighted Average | Auction Rate Securities Owned | Municipal Auction Rate Securities 01
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.64%	[1],[2]
Duration	4 years 6 months	[1]
Current Yield	0.23%	[1],[3]
Weighted Average | Auction Rate Securities Owned | Municipal Auction Rate Securities 02
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Observable trades in inactive market for in portfolio securities	89.50%	[1]
Weighted Average | Auction Rate Securities Owned | Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	3.17%	[1],[4]
Duration	7 years	[1]
Current Yield	0.79%	[1],[3]
Weighted Average | Auction Rate Securities Owned | Other Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Observable trades in inactive market for in portfolio securities	74.11%	[1],[5]
Weighted Average | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	1.78%	[6],[7]
Duration	4 years	[6]
Current Yield	0.30%	[3],[6]
Weighted Average | Auction Rate Securities Purchase Commitment | Municipal Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.64%	[2],[6]
Duration	4 years 6 months	[6]
Current Yield	0.23%	[3],[6]
Weighted Average | Auction Rate Securities Purchase Commitment | Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	3.17%	[4],[6]
Duration	7 years	[6]
Current Yield	0.79%	[3],[6]
Auction Rate Securities Purchase Commitment
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	12,249	[1]
Valuation Adjustment	902	[1]
Fair Value	11,347	[1]
Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	7,626	[6]
Valuation Adjustment	410	[6]
Fair Value	7,216	[6]
Valuation Technique	Discounted Cash Flow	[6]
Auction Rate Securities Purchase Commitment | Municipal Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	4,065	[6]
Valuation Adjustment	410	[6]
Fair Value	3,655	[6]
Valuation Technique	Discounted Cash Flow	[6]
Auction Rate Securities Purchase Commitment | Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	558	[6]
Valuation Adjustment	82	[6]
Fair Value	$476	[6]
Valuation Technique	Discounted Cash Flow	[6]
[1]	Principal amount represents the par value of the ARS and is included in securities owned in the consolidated balance sheet at December 31, 2014. The valuation adjustment amount is included as a reduction to securities owned in the consolidated balance sheet at December 31, 2014.
[2]	Derived by applying a multiple to the spread of 175% to the U.S. Treasury rate of 1.51%.
[3]	Based on current auctions in comparable securities that have not failed.
[4]	Derived by applying the sum of the spread of 1.20% to the U.S. Treasury rate of 1.97%.
[5]	Represents ARS issued by credit default obligation structure that the Company has purchased and is committed to purchase as a result of a legal settlement.
[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 consolidated balance sheet at December 31, 2014.(7)
[7]	Derived by applying a multiple to the spread between 110% to 150% to the U.S. Treasury rate of 1.36%.

Fair_Value_Measurements_Invest

Fair Value Measurements - Investments in Company-Sponsored Funds (Details) (USD $)	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013
Investment Holdings [Line Items]
Fair Value	$8,827,000
Unfunded Commitments	1,251,000
Hedge Funds
Investment Holdings [Line Items]
Fair Value	2,159,000	[1]
Unfunded Commitments	0	[1]
Redemption Frequency	Quarterly - Annually	[1]
Redemption Notice Period, Minimum	30 days	[1]
Redemption Notice Period, Maximum	120 days	[1]
Private Equity Funds
Investment Holdings [Line Items]
Fair Value	6,668,000	[2]
Unfunded Commitments	1,251,000	[2]
Auction rate securities
Investment Holdings [Line Items]
Assets and liabilities transferred from level one and level two	$0		$0
[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 funds can extend to 10 years.

Fair_Value_Measurements_Assets

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) (USD $)	Dec. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS
Cash equivalents	$31,175		$60,268
Deposits with clearing organizations	24,188		10,492
Securities segregated for regulatory and other purposes			11,495
Securities owned
Securities owned, at fair value	843,155		856,088
Investments	8,827
Loans held for sale	19,243		75,989
Securities purchased under agreements to resell	250,000	[1]	184,000	[1]
Derivative contracts
Derivative contracts, total	12,111		4,530
Total	1,240,626		1,267,309
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	92,510		76,314
Liabilities Related to Investment Contracts, Fair Value Disclosure	0		648
Derivative contracts:
Derivative contracts	3,505		6,574
Total	96,015		83,536
U.S. treasury futures
Derivative contracts:
Derivative contracts	252		18
Federal funds futures
Derivative contracts:
Derivative contracts	43		44
Eurodollars futures
Derivative contracts:
Derivative contracts	55
TBAs			73
General collateral futures
Derivative contracts:
Derivative contracts	3
Foreign currency forward contracts
Derivative contracts:
Derivative contracts	10
TBAs
Derivative contracts
Derivative contracts, total	4,535		2,155
Derivative contracts:
Derivative contracts			186
TBAs	1,018
Interest rate lock commitments
Derivative contracts
Derivative contracts, total	7,576		2,375
Derivative contracts:
Derivative contracts	1,222		3,653
ARS purchase commitments
Derivative contracts:
Derivative contracts	902		2,600
Investments
Securities owned
Investments	60,754	[2]	64,447	[2]
Corporate equities
Securities owned
Securities owned, at fair value	42,751		61,634
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	47,574		45,336
Money markets
Securities owned
Securities owned, at fair value	1,245		1,263
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	0		241
Auction rate securities
Securities owned
Securities owned, at fair value	91,422		85,124
U.S. Treasury securities
Securities owned
Securities owned, at fair value	540,223		566,346
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	30,581		11,837
U.S. Agency securities
Securities owned
Securities owned, at fair value	26,261		29,448
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	34		52
Sovereign obligations
Securities owned
Securities owned, at fair value	4,123		320
Corporate debt and other obligations
Securities owned
Securities owned, at fair value	19,795		14,673
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	2,646		4,847
Mortgage and other asset-backed securities
Securities owned
Securities owned, at fair value	6,689		3,395
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	255		7
Municipal obligations
Securities owned
Securities owned, at fair value	60,833		40,166
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	51		72
Convertible bonds
Securities owned
Securities owned, at fair value	49,813		53,719
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	11,369		13,922
Level 1
ASSETS
Cash equivalents	31,175		60,268
Deposits with clearing organizations	24,188		10,492
Securities segregated for regulatory and other purposes			11,495
Securities owned
Securities owned, at fair value	584,219		629,243
Derivative contracts
Derivative contracts, total	0
Total	639,582		722,273
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	78,155		57,414
Liabilities Related to Investment Contracts, Fair Value Disclosure	0		648
Derivative contracts:
Derivative contracts	363		248
Total	78,518		58,310
Level 1 | U.S. treasury futures
Derivative contracts:
Derivative contracts	252		18
Level 1 | Federal funds futures
Derivative contracts:
Derivative contracts	43		44
Level 1 | Eurodollars futures
Derivative contracts:
Derivative contracts	55
Level 1 | General collateral futures
Derivative contracts:
Derivative contracts	3
Level 1 | Foreign currency forward contracts
Derivative contracts:
Derivative contracts	10
Level 1 | TBAs
Derivative contracts:
Derivative contracts			186
Level 1 | Investments
Securities owned
Investments	0	[2]	10,775	[2]
Level 1 | Corporate equities
Securities owned
Securities owned, at fair value	42,751		61,634
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	47,574		45,336
Level 1 | Money markets
Securities owned
Securities owned, at fair value	1,245		1,263
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	0		241
Level 1 | U.S. Treasury securities
Securities owned
Securities owned, at fair value	540,223		566,346
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	30,581		11,837
Level 2
ASSETS
Cash equivalents	0		0
Securities owned
Securities owned, at fair value	167,350		141,485
Loans held for sale	19,243		75,989
Securities purchased under agreements to resell	250,000	[1]	184,000	[1]
Derivative contracts
Derivative contracts, total	4,535		2,155
Total	492,374		451,355
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	14,355		18,900
Derivative contracts:
Derivative contracts	1,018		73
Total	15,373		18,973
Level 2 | Federal funds futures
Derivative contracts:
Derivative contracts	0
Level 2 | Eurodollars futures
Derivative contracts:
Derivative contracts	0
TBAs			73
Level 2 | TBAs
Derivative contracts
Derivative contracts, total	4,535		2,155
Derivative contracts:
TBAs	1,018		0
Level 2 | Investments
Securities owned
Investments	51,246	[2]	47,726	[2]
Level 2 | U.S. Treasury securities
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	0
Level 2 | U.S. Agency securities
Securities owned
Securities owned, at fair value	26,261		29,448
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	34		52
Level 2 | Sovereign obligations
Securities owned
Securities owned, at fair value	4,123		320
Level 2 | Corporate debt and other obligations
Securities owned
Securities owned, at fair value	19,795		14,673
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	2,646		4,847
Level 2 | Mortgage and other asset-backed securities
Securities owned
Securities owned, at fair value	6,689		3,395
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	255		7
Level 2 | Municipal obligations
Securities owned
Securities owned, at fair value	60,669		39,930
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	51		72
Level 2 | Convertible bonds
Securities owned
Securities owned, at fair value	49,813		53,719
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	11,369		13,922
Level 3
ASSETS
Cash equivalents	0		0
Securities owned
Securities owned, at fair value	91,586		85,360
Derivative contracts
Derivative contracts, total	7,576		2,375
Total	108,670		93,681
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	0
Derivative contracts:
Derivative contracts	2,124		6,253
Total	2,124		6,253
Level 3 | Interest rate lock commitments
Derivative contracts
Derivative contracts, total	7,576		2,375
Derivative contracts:
Derivative contracts	1,222		3,653
Level 3 | ARS purchase commitments
Derivative contracts:
Derivative contracts	902		2,600
Level 3 | Investments
Securities owned
Investments	9,508	[2]	5,946	[2]
Level 3 | Auction rate securities
Securities owned
Securities owned, at fair value	91,422		85,124
Level 3 | U.S. Treasury securities
Securities sold, but not yet purchased
Securities sold, but not yet purchased, at fair value	0
Level 3 | Municipal obligations
Securities owned
Securities owned, at fair value	164		236
Federal funds futures | Level 2
Derivative contracts:
Derivative contracts			$0
[1]	Included in securities purchased under agreements to resell where the Company has elected fair value option treatment.
[2]	Included in other assets on the consolidated balance sheet.

Fair_Value_Measurements_Change

Fair Value Measurements - Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Interest rate lock commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance	$2,375	[1],[2]	$0
Total Realized and Unrealized Gains (Losses), Assets	5,201	[2],[3],[4]	2,375	[3],[5]
Purchases and Issuances	0	[2],[6]
Sales and Settlements	0	[2]
Transfers In (Out)	0	[2]
Assets Ending Balance	7,576	[2]	2,375	[1],[2]
Liabilities Beginning Balance	3,653		0
Total Realized and Unrealized Gains (Loss), Liabilities	2,431	[3],[5]	-3,653
Liabilities Ending Balance	1,222		3,653
Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance	5,946	[1],[7]	12,954	[1]
Total Realized and Unrealized Gains (Losses), Assets	101	[3],[4],[7]	929	[1],[3],[5]
Purchases and Issuances	5,178	[6],[7]	1,414	[1],[4]
Sales and Settlements	-1,097	[7]	-8,898	[1]
Transfers In (Out)	-620	[7]	-453	[1]
Assets Ending Balance	9,508	[7]	5,946	[1],[7]
Auction rate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance	85,124	[6],[8],[9]	72,118	[6],[8]
Total Realized and Unrealized Gains (Losses), Assets	-622	[3],[4],[8],[9]	-1,409	[3],[5],[6],[8]
Purchases and Issuances	20,625	[6],[8],[9]	21,875	[4],[6],[8]
Sales and Settlements	-13,705	[8],[9]	-7,460	[6],[8]
Transfers In (Out)	0	[8],[9]
Assets Ending Balance	91,422	[8],[9]	85,124	[6],[8],[9]
Liabilities Beginning Balance			100	[8]
Purchases and Issuances			100
Auction Rate Securities Purchase Commitment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities Beginning Balance	2,600	[5],[7]	2,647	[7]
Total Realized and Unrealized Gains (Loss), Liabilities	1,698	[3],[5],[7]	47	[3],[5],[7]
Liabilities Ending Balance	902	[5]	2,600	[5],[7]
Municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance	236		239
Total Realized and Unrealized Gains (Losses), Assets	-72	[3],[4]	-3	[3],[5]
Purchases and Issuances	0	[6]
Sales and Settlements	0
Transfers In (Out)	0
Assets Ending Balance	164		236
Mortgage and other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance			40	[10]
Sales and Settlements			-8	[10]
Transfers In (Out)			($32)	[10]
[1]	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.
[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]	Included in principal transactions on the consolidated statement of operations, except for investments which are included in other income on the consolidated statement of operations.
[4]	Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date.
[5]	Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the year.
[6]	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.
[7]	Primarily represents general partner ownership and limited partner interests in hedge funds and private equity funds sponsored by the Company.
[8]	Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market.
[9]	Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the year for regulatory and legal ARS settlements and awards.
[10]	Represents private placements of non-agency collateralized mortgage obligations.

Fair_Value_Measurements_Assets1

Fair Value Measurements - Assets and Liabilities Not Measured at Fair Value on Recurring Basis (Details) (USD $)	Dec. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Fair value of the reverse repurchase agreements	$250,000	[1]	$184,000	[1]
Securities purchased under agreements to resell	251,606		184,825
Fair Value Measurement Assets
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Cash	32,632		38,026
Cash segregated for regulatory and other purposes	18,594		24,828
Deposits with clearing organization	12,322		13,187
Securities borrowed	242,172		274,127
Receivables from brokers	38,149		23,384
Securities failed to deliver	11,055		9,628
Clearing organizations	21,106		26,446
Omnibus accounts			18,086
Other	1,993		13,202
Total Receivable from brokers, dealers and clearing organizations	314,475		364,873
Receivable from customers	864,189		868,869
Securities purchased under agreements to resell	1,606		825
Mortgage servicing rights	42,279		40,084
Escrow deposit			25,006	[2]
Fair Value Measurement Liabilities
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Drafts payable	35,373		48,198
Bank call loans	59,400		118,200
Securities loaned	137,892		211,621
Securities failed to receive	23,573		5,346
Clearing organizations and other	95,696		6,348
Total payables to brokers, dealers and clearing organizations	257,161		223,315
Payables to customers	652,256		626,564
Securities sold under agreements to repurchase	687,440		757,491
Warehouse payable	16,683	[3]	54,614	[4]
Payable to third party			25,006	[5]
Senior secured notes	157,782		208,529
Level 1 | Fair Value Measurement Assets
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Cash	32,632		38,026
Cash segregated for regulatory and other purposes	18,594		24,828
Deposits with clearing organization	12,322		13,187
Securities purchased under agreements to resell	1,606		825
Escrow deposit			25,006	[2]
Level 1 | Fair Value Measurement Liabilities
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Drafts payable	35,373		48,198
Bank call loans	59,400		118,200
Payable to third party			25,006	[5]
Level 2
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Fair value of the reverse repurchase agreements	250,000	[1]	184,000	[1]
Level 2 | Fair Value Measurement Assets
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Securities borrowed	242,172		274,127
Receivables from brokers	38,149		23,384
Securities failed to deliver	11,055		9,628
Clearing organizations	21,106		26,446
Omnibus accounts			18,086
Other	1,993		13,202
Total Receivable from brokers, dealers and clearing organizations	314,475		364,873
Receivable from customers	864,189		868,869
Level 2 | Fair Value Measurement Liabilities
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Securities loaned	137,892		211,621
Securities failed to receive	23,573		5,346
Clearing organizations and other	95,696		6,348
Total payables to brokers, dealers and clearing organizations	257,161		223,315
Payables to customers	652,256		626,564
Securities sold under agreements to repurchase	687,440		757,491
Warehouse payable	16,683	[3]	54,614	[4]
Senior secured notes	157,782		208,529
Level 3 | Fair Value Measurement Assets
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Mortgage servicing rights	42,279		40,084
Carrying Value | Fair Value Measurement Assets
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Cash	32,632		38,026
Cash segregated for regulatory and other purposes	18,594		24,828
Deposits with clearing organization	12,322		13,187
Securities borrowed	242,172		274,127
Receivables from brokers	38,149		23,384
Securities failed to deliver	11,055		9,628
Clearing organizations	21,106		26,446
Omnibus accounts			18,086
Other	1,993		13,202
Total Receivable from brokers, dealers and clearing organizations	314,475		364,873
Receivable from customers	864,189		868,869
Securities purchased under agreements to resell	1,606		825
Mortgage servicing rights	30,140		28,879
Escrow deposit			25,006	[2]
Carrying Value | Fair Value Measurement Liabilities
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Drafts payable	35,373		48,198
Bank call loans	59,400		118,200
Securities loaned	137,892		211,621
Securities failed to receive	23,573		5,346
Clearing organizations and other	95,696		6,348
Total payables to brokers, dealers and clearing organizations	257,161		223,315
Payables to customers	652,256		626,564
Securities sold under agreements to repurchase	687,440		757,491
Warehouse payable	16,683	[3]	54,614	[4]
Payable to third party			25,006	[5]
Senior secured notes	$150,000		$195,000
[1]	Included in securities purchased under agreements to resell where the Company has elected fair value option treatment.
[2]	Included in other assets on the 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 consolidated balance sheet (see note 3 below).
[3]	ncluded in accounts payable and other liabilities on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows. Warehouse payable represents the warehouse line amount outstanding with the third-party commercial bank. The borrowing rates on the warehouse facility is based upon a variable interest rate of 1-month LIBOR plus a spread. The Company earns a spread between the interest earned on the loans originated by the Company and the interest incurred on amounts drawn from the warehouse facility. The warehouse facility is used in connection with funding loans held for sale which is included in other assets on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows.
[4]	Included in accounts payable and other liabilities on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows. Warehouse payable represents the warehouse line amount outstanding with the third-party commercial bank. The borrowing rates on the warehouse facility is based upon a variable interest rate of 1-month LIBOR plus a spread. The Company earns a spread between the interest earned on the loans originated by the Company and the interest incurred on amounts drawn from the warehouse facility. The warehouse facility is used in connection with funding loans held for sale which is included in other assets on the consolidated balance sheet and cash flows from operating activities on the consolidated statement of cash flows.
[5]	Corresponds with escrow deposit in other assets on the consolidated balance sheet (see note 1 above).

Fair_Value_Measurements_Notion

Fair Value Measurements - Notional Amounts and Fair Values of Derivatives by Product (Details) (Not Designated as Hedging Instrument, USD $)	Dec. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	$440,884	[1]	$407,246	[1]
Derivatives asset, Fair Value	12,111	[1]	4,530	[1]
Derivative liability, notional	5,011,304	[1]	7,188,207	[1]
Derivative liability, Fair Value	3,505	[1]	6,574	[1]
Other Contracts | TBA
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	105,185	[1]	25,262	[1]
Derivatives asset, Fair Value	1,026	[1]	134	[1]
Derivative liability, notional	105,186	[1]	14,547	[1]
Derivative liability, Fair Value	1,018	[1]	73	[1]
Other Contracts | TBA Sale Agreements
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	188,178	[1]	266,415	[1]
Derivatives asset, Fair Value	3,509	[1]	2,021	[1]
Other Contracts | Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Derivative liability, notional	400,000	[1]
Derivative liability, Fair Value	10	[1]
Other Contracts | Forward Start Repurchase Agreement
Derivatives, Fair Value [Line Items]
Derivative liability, notional	636,000	[1]	506,000	[1]
Derivative liability, Fair Value	0	[1]	0	[1]
Other Contracts | Auction Rate Securities Purchase Commitment
Derivatives, Fair Value [Line Items]
Derivative liability, notional	12,249	[1]	29,056	[1]
Derivative liability, Fair Value	902	[1]	2,600	[1]
Other Contracts | Interest rate lock commitments
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	147,521	[1]	115,569	[1]
Derivatives asset, Fair Value	7,576	[1]	2,375	[1]
Derivative liability, notional	22,269	[1]	76,604	[1]
Derivative liability, Fair Value	1,222	[1]	3,653	[1]
Commodity Contracts | U.S. treasury futures
Derivatives, Fair Value [Line Items]
Derivative liability, notional	102,600	[1],[2]	60,000	[1],[3]
Derivative liability, Fair Value	252	[1],[2]	186	[1],[3]
Commodity Contracts | Federal funds futures
Derivatives, Fair Value [Line Items]
Derivative liability, notional	3,260,000	[1],[2]	6,155,000	[1],[3]
Derivative liability, Fair Value	43	[1],[2]	18	[1],[3]
Commodity Contracts | Euro Dollars Futures
Derivatives, Fair Value [Line Items]
Derivative liability, notional	333,000	[1],[2]	347,000	[1],[3]
Derivative liability, Fair Value	55	[1],[2]	44	[1],[3]
Commodity Contracts | General collateral futures
Derivatives, Fair Value [Line Items]
Derivative liability, notional	140,000	[1],[2]
Derivative liability, Fair Value	$3	[1],[2]
[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 consolidated balance sheet.
[3]	For the year ended December 31, 2014, the diluted earnings per share computation does not include the anti-dilutive effect of 43,008 shares of Class A Stock granted under share-based compensation arrangements (57,573 and 1,936,871 shares of Class A Stock granted under share-based compensation arrangements together with the warrant described in (1) for the years ended December 31, 2013 and 2012, respectively).

Fair_Value_Measurements_Fair_V

Fair Value Measurements - Fair Value Amounts of Derivative Instruments and their Effect on Statement of Operations (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	$1,684	$1,473
Commodity Contracts | U.S. treasury futures | Principal Transaction Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	-1,687	906
Commodity Contracts | Federal funds futures | Principal Transaction Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	-272	-289
Commodity Contracts | Euro Dollars Futures | Principal Transaction Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	-161	5
Commodity Contracts | General collateral futures | Principal Transaction Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	11
Other Contracts | Other
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	10
Other Contracts | Other | TBA Sale Agreements
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	-5,530	2,021
Other Contracts | Other | Interest rate lock commitments
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	7,632	-1,277
Other Contracts | TBAs | Principal Transaction Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	-17	61
Other Contracts | Auction Rate Securities Purchase Commitment | Principal Transaction Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	1,698
Other Contracts | Auction Rate Securities Purchase Commitment | Other
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)		$46

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Company purchased and holds auction rate securities	$98,600,000
Commitment to purchase ARS from clients through 2016	12,200,000
Valuation adjustment (unrealized loss) for ARS	8,030,000
Loan position held in secondary loan trading portfolio	0		0
Fair value of the reverse repurchase agreements	250,000,000	[1]	184,000,000	[1]
Fair value of the repurchase agreements	0
Loans held for sale period	60 days
Book value of loan held for sale	18,400,000
Fair value of loan held for sale	19,243,000		75,989,000
Forward or delayed delivery of the underlying instrument with settlement	180 days
Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Auction rate securities valuation adjustment	8,000,000
Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Auction rate securities valuation adjustment	902,000
Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	7,128,000	[2]
Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	8.75%
Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
ARS held in proprietary trading account result of the failed auctions	150,000
Valuation adjustment (unrealized loss) for ARS	7,100,000
Assets and liabilities transferred from level one and level two	0		0
Auction rate securities | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commitment to purchase ARS period maximum	2016
Auction rate securities | Range One
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Basis point	0.25%
Auction rate securities | Range Two
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Basis point	0.50%
Fair Value, Valuation Scenario One | Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Decrease in fair value of ARS	941,000
Fair Value, Valuation Scenario Two | Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Decrease in fair value of ARS	1,900,000
Private Equity Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments Lock In Period	10 years
Auction Rate Preferred Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U S Treasury Rate	1.36%
Auction Rate Preferred Securities | Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	4,339,000	[2]
Auction Rate Preferred Securities | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread To U S Treasury Rate	110.00%
Auction Rate Preferred Securities | Minimum | Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	1.50%	[3],[4]
Auction Rate Preferred Securities | Minimum | Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	1.50%	[2],[4]
Auction Rate Preferred Securities | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread To U S Treasury Rate	150.00%
Auction Rate Preferred Securities | Maximum | Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	2.04%	[3],[4]
Auction Rate Preferred Securities | Maximum | Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	2.04%	[2],[4]
Municipal Auction Rate Securities 01
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread To U S Treasury Rate	175.00%
U S Treasury Rate	1.51%
Municipal Auction Rate Securities 01 | Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	2.64%	[2],[5]
Valuation adjustment (unrealized loss) for ARS	1,157,000	[2]
Student Loan Auction Rate Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread To U S Treasury Rate	1.20%
U S Treasury Rate	1.97%
Student Loan Auction Rate Securities | Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	3.17%	[3],[6]
Student Loan Auction Rate Securities | Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	3.17%	[2],[6]
Valuation adjustment (unrealized loss) for ARS	66,000	[2]
Mortgage Servicing Rights
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
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
Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	902,000	[2]
Auction Rate Securities Purchase Commitment | Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	902,000
Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	410,000	[3]
Auction Rate Securities Purchase Commitment | Student Loan Auction Rate Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	82,000	[3]
Deferred Compensation Share Based Payments | Corporate Equities Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of the corporate equities that are included in securities owned	$15,700,000		$15,300,000
[1]	Included in securities purchased under agreements to resell where the Company has elected fair value option treatment.
[2]	Principal amount represents the par value of the ARS and is included in securities owned in the consolidated balance sheet at December 31, 2014. The valuation adjustment amount is included as a reduction to securities owned in the consolidated balance sheet at December 31, 2014.
[3]	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 consolidated balance sheet at December 31, 2014.(7)
[4]	Derived by applying a multiple to the spread between 110% to 150% to the U.S. Treasury rate of 1.36%.
[5]	Derived by applying a multiple to the spread of 175% to the U.S. Treasury rate of 1.51%.
[6]	Derived by applying the sum of the spread of 1.20% to the U.S. Treasury rate of 1.97%.

Collateralized_Transactions_Sc

Collateralized Transactions - Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Lending Transactions (Details) (USD $)	Dec. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Reverse repurchase agreements
Gross Amounts of Recognized Assets	$314,266		$389,439
Gross Amounts Offset in the Statement of Financial Position	-62,660		-204,614
Net Amounts of Assets Presented on the Balance Sheet	251,606		184,825
Financial Instruments	-250,000		-183,305
Cash Collateral Received	0		0
Net Amount	1,606		1,520
Securities borrowed
Gross Amounts of Recognized Assets	242,172	[1]	274,127	[1]
Gross Amounts Offset in the Statement of Financial Position	0	[1]	0	[1]
Net Amounts of Assets Presented on the Balance Sheet	242,172	[1]	274,127	[1]
Financial Instruments	-234,376	[1]	-265,936	[1]
Cash Collateral Received	0	[1]	0	[1]
Net Amount	7,796	[1]	8,191	[1]
Total
Gross Amounts of Recognized Assets	556,438		663,566
Gross Amounts Offset in the Statement of Financial Position	-62,660		-204,614
Net Amounts of Assets Presented on the Balance Sheet	493,778		458,952
Financial Instruments	-484,376		-449,241
Cash Collateral Received	0		0
Net Amount	9,402		9,711
Repurchase agreements
Gross Amounts of Recognized Liabilities	750,100		962,105
Gross Amounts Offset in the Statement of Financial Position	-62,660		-204,614
Net Amounts of Liabilities Presented on the Balance Sheet	687,440		757,491
Financial Instruments	-686,119		-753,003
Cash Collateral Pledged	0		0
Net Amount	1,321		4,488
Securities loaned
Gross Amounts of Recognized Liabilities	137,892	[2]	211,621	[2]
Gross Amounts Offset in the Statement of Financial Position	0	[2]	0	[2]
Net Amounts of Liabilities Presented on the Balance Sheet	137,892	[2]	211,621	[2]
Financial Instruments	-132,258	[2]	-204,971	[2]
Cash Collateral Pledged	0	[2]	0	[2]
Net Amount	5,634	[2]	6,650	[2]
Total
Gross Amounts of Recognized Liabilities	887,992		1,173,726
Gross Amounts Offset in the Statement of Financial Position	-62,660		-204,614
Net Amounts of Liabilities Presented on the Balance Sheet	825,332		969,112
Financial Instruments	-818,377		-957,974
Cash Collateral Pledged	0		0
Net Amount	$6,955		$11,138
[1]	Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet.
[2]	Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet.

Collateralized_Transactions_Ad

Collateralized Transactions - Additional Information (Narrative) (Details) (USD $)	0 Months Ended	12 Months Ended
	Sep. 26, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012	Mar. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Bank call loans		$59,400,000		$118,200,000
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		125,600,000
Customer securities deposited to secure obligations and margin requirements under option contracts		362,900,000
Outstanding letters of credit		0
Fair value of the reverse repurchase agreements		250,000,000	[1]	184,000,000	[1]
Fair value of the repurchase agreements		0
Carrying value of pledged securities owned that can be sold or re-pledged by the counterparty		518,100,000		586,600,000
Carrying value of securities owned by the Company loaned or pledged		149,100,000		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
Number of broker-dealers		2
Receivable from brokers and clearing organizations		101,600,000
Loans to Citizens		0
Credit Concentration Risk
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Guaranteed mortgages for a period		15 days
Interest expense		570,700		764,500		895,000
Warehouse Facility | Credit Concentration Risk
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Outstanding under the warehouse facility line		16,700,000		54,600,000
Reverse Repurchase Agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Customer securities under customer margin loans agreement available to be repledged		312,600,000		385,500,000
Securities received as collateral under securities borrowed transaction with market value		314,100,000		385,500,000
Securities Borrowed Transactions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Customer securities under customer margin loans agreement available to be repledged		4,400,000		11,000,000
Securities received as collateral under securities borrowed transaction with market value		235,100,000		265,300,000
Corporate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loans, collateralized by firm		148,800,000
Other Than Corporate Customer
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loans, collateralized by customer securities		$248,300,000
[1]	Included in securities purchased under agreements to resell where the Company has elected fair value option treatment.

Variable_Interest_Entities_Det

Variable Interest Entities (Details) (USD $)	Dec. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Variable Interest Entity [Line Items]
Total VIE Assets	$2,021,915	[1]	$2,346,619	[1]
Carrying Value of Variable Interest Assets	1,611	[2]	767	[2]
Capital Commitments	2		5
Maximum Exposure to Loss in Non- consolidated VIEs	1,613		772
Hedge Funds
Variable Interest Entity [Line Items]
Total VIE Assets	1,955,515	[1]	2,282,144	[1]
Carrying Value of Variable Interest Assets	1,584	[2]	738	[2]
Carrying Value of Variable Interest Liabilities	0		0
Capital Commitments	0		0
Maximum Exposure to Loss in Non- consolidated VIEs	1,584		738
Private Equity Funds
Variable Interest Entity [Line Items]
Total VIE Assets	66,400	[1]	64,475	[1]
Carrying Value of Variable Interest Assets	27	[2]	29	[2]
Carrying Value of Variable Interest Liabilities	0		0
Capital Commitments	2		5
Maximum Exposure to Loss in Non- consolidated VIEs	$29		$34
[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 consolidated balance sheet.

Commercial_Mortgage_Banking_Un

Commercial Mortgage Banking - Unpaid Principal Balance of Loans (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Transfers and Servicing [Abstract]
Unpaid principal balance of loans	$4,134,894	$3,885,437

Commercial_Mortgage_Banking_Su

Commercial Mortgage Banking - Summary of Changes in Carrying Value of Mortgage Servicing Rights (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Balance at beginning of year	$28,879		$26,983
Originations	5,956	[1]	7,351	[1]
Purchases	345		1,344
Disposals	-2,221	[1]	-4,918	[1]
Amortization expense	-2,819		-1,881
Balance at end of year	$30,140		$28,879
[1]	Includes refinancings

Commercial_Mortgage_Banking_Sc

Commercial Mortgage Banking - Schedule of Amortization Expense (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Servicing Asset at Amortized Cost [Line Items]
2015	$4,240
2016	4,238
2017	4,230
2018	4,193
2019	4,026
Thereafter	9,213
Amortization expense	30,140
Originated MSRs
Servicing Asset at Amortized Cost [Line Items]
2015	2,954
2016	2,953
2017	2,947
2018	2,921
2019	2,819
Thereafter	7,181
Amortization expense	21,775
Purchased MSRs
Servicing Asset at Amortized Cost [Line Items]
2015	1,285
2016	1,285
2017	1,283
2018	1,272
2019	1,207
Thereafter	2,032
Amortization expense	$8,364

Commercial_Mortgage_Banking_Co

Commercial Mortgage Banking - Components of Mortgage Servicing Rights Fees (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Transfers and Servicing [Abstract]
Servicing fees	$5,552	$5,049	$4,177
Ancillary fees	328	528	537
Total MSR fees	$5,880	$5,577	$4,714

Commercial_Mortgage_Banking_Ad

Commercial Mortgage Banking - Additional Information (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Servicing Liability at Amortized Cost [Line Items]
Company owned OMHHF	83.68%
Prepayment costs	$9,800,000	$14,500,000	$7,400,000
Custodial escrow accounts	285,500,000	251,400,000
Uninsured balance relation to escrow accounts	165,000,000
Carrying value of loan servicing rights	30,140,000	28,879,000	26,983,000
Servicing rights are amortized using straight-line method	10 years
Mortgage Servicing Rights
Servicing Liability at Amortized Cost [Line Items]
Fair value of servicing rights	42,300,000	40,100,000
Carrying value of loan servicing rights	$30,100,000	$28,900,000
OMHHF
Servicing Liability at Amortized Cost [Line Items]
Non-controlling interest	16.32%
Number of related party	1

Office_Facilities_Summary_of_O

Office Facilities - Summary of Office Facilities Expenses (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]
Office facilities, gross	$133,136	$130,057
Less accumulated depreciation	-103,547	-97,118
Total	29,589	32,939
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Office facilities, gross	78,940	76,857
Leasehold improvements
Property, Plant and Equipment [Line Items]
Office facilities, gross	$54,196	$53,200

Office_Facilities_Additional_I

Office Facilities - Additional Information (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$7,748	$9,405	$10,466

Bank_Call_Loans_Additional_Inf

Bank Call Loans - Additional Information (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Bank Call Loans [Abstract]
Broker call rate	2.00%	2.00%
Interest expense on bank call loans	$1,400,000	$2,200,000	$996,200

Bank_Call_Loans_Summary_of_Ban

Bank Call Loans - Summary of Bank Call Loans (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Bank Call Loans [Abstract]
Year-end balance	$59,400	$118,200
Weighted interest rate (at end of year)	1.22%	1.28%
Maximum balance (at any month-end)	197,000	266,300
Average amount outstanding (during the year)	$108,235	$164,434
Average interest rate (during the year)	1.26%	1.25%

LongTerm_Debt_Schedule_of_Long

Long-Term Debt - Schedule of Long-Term Debt (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Apr. 15, 2014
Debt Instrument [Line Items]
Senior secured notes	150,000	$195,000
Senior Secured Notes
Debt Instrument [Line Items]
Maturity Date	15-Apr-18
Senior secured notes			$150,000

LongTerm_Debt_Additional_Infor

Long-Term Debt - Additional Information (Narrative) (Details) (USD $)	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 15, 2014	Apr. 12, 2011
Debt Instrument [Line Items]
Extinguishment of Debt, Amount Redeemed	$45,000,000	$0	$0
Senior secured notes	150,000,000	195,000,000
Senior Secured Notes
Debt Instrument [Line Items]
Interest rate	8.75%
Extinguishment of Debt, Amount				50,000,000
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed				25.00%
Extinguishment of Debt, Amount Redeemed				45,000,000
Debt Instrument, Redemption Price, Percentage				106.56%
Extinguishment of Debt, Amount Retired				5,000,000
Senior secured notes				150,000,000
Decrease to Debt Instrument Interest Cost				3,900,000
Interest expense on note	14,300,000	17,100,000	17,100,000
Interest paid on notes	15,100,000	17,100,000
Private Placement | Senior Secured Notes
Debt Instrument [Line Items]
Private placement date					12-Apr-11
Issuance of private placement, principal amount					$200,000,000
Interest rate					8.75%
Term of payments of interest on notes	semi-annually

Share_Capital_Changes_in_Numbe

Share Capital - Changes in Number of Shares of Class A Stock Outstanding (Details) (Class A Stock)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Class A Stock
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Class A Stock outstanding, beginning of year	13,377,967	13,508,318
Issued pursuant to shared-based compensation plans	152,721	70,227
Repurchased and canceled pursuant to the stock buy-back	0	-200,578
Class A Stock outstanding, end of year	13,530,688	13,377,967

Share_Capital_Additional_Infor

Share Capital - Additional Information (Narrative) (Details) (USD $)	3 Months Ended								12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 07, 2011
Class of Stock [Line Items]
Preferred stock, authorized	50,000,000								50,000,000
Preferred stock, par value	$0.00								$0.00
Preferred stock, issued	0								0
Dividends per share	$0.11	$0.11	$0.11	$0.11	$0.11	$0.11	$0.11	$0.11	$0.44	$0.44
Class A Stock
Class of Stock [Line Items]
Common stock, authorized	50,000,000				50,000,000				50,000,000	50,000,000
Common stock, par value	$0.00				$0.00				$0.00	$0.00
Common stock, issued	13,530,688				13,377,967				13,530,688	13,377,967		13,572,265
Common Stock, outstanding	13,530,688				13,377,967				13,530,688	13,377,967	13,508,318
Repurchase of class A common stock												675,000
Percentage of repurchase of class A common stock												5.00%
Repurchase and cancelled stock									0	200,578
Total consideration of repurchase and cancelled stock										$3.60
Repurchase and cancelled stock per share										$18.07
Dividends per share									$0.44	$0.44	$0.44
Class B Stock
Class of Stock [Line Items]
Common stock, authorized	99,680								99,680
Common stock, par value	$0.00				$0.00				$0.00	$0.00
Common stock, issued	99,680				99,680				99,680	99,680
Common Stock, outstanding	99,680				99,680				99,680	99,680
Dividends per share									$0.44	$0.44	$0.44

Earnings_Per_Share_Summary_of_

Earnings Per Share - Summary of Earnings Per Share (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Earnings Per Share [Abstract]
Basic weighted average number of shares outstanding									13,604,258		13,577,725		13,602,205
Net dilutive effect of warrant, treasury method									0	[1]	0	[1]	0	[1]
Net dilutive effect of share-based awards, treasury method									646,405	[2]	546,335	[2]	0	[2]
Diluted weighted average number of shares outstanding									14,250,663		14,124,060		13,602,205
Net income (loss) for the year									$9,561		$26,153		($851)
Net income attributable to non-controlling interest, net of tax									735		1,092		2,762
Net income (loss) attributable to Oppenheimer Holdings Inc.	$2,686	$4,470	($1,554)	$3,224	$13,313	$5,237	$2,848	$3,663	$8,826		$25,061		($3,613)
Basic earnings per share	$0.20	$0.33	($0.11)	$0.24	$0.99	$0.38	$0.21	$0.27	$0.65		$1.85		($0.27)
Diluted earnings per share	$0.19	$0.31	($0.11)	$0.23	$0.94	$0.37	$0.20	$0.26	$0.62		$1.77		($0.27)
[1]	As part of the consideration for the 2008 acquisition of certain businesses from CIBC World Markets Corp. (“CIBC”), the Company issued a warrant to CIBC to purchase 1 million shares of Class A Stock of the Company at $48.62 per share exercisable five years from the January 14, 2008 acquisition date. The warrants expired on April 13, 2013. For the year ended December 31, 2012, the effect of the warrants was anti-dilutive.
[2]	For the year ended December 31, 2014, the diluted earnings per share computation does not include the anti-dilutive effect of 43,008 shares of Class A Stock granted under share-based compensation arrangements (57,573 and 1,936,871 shares of Class A Stock granted under share-based compensation arrangements together with the warrant described in (1) for the years ended December 31, 2013 and 2012, respectively).

Earnings_Per_Share_Summary_of_1

Earnings Per Share - Summary of Earnings Per Share (Narrative) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Class A Stock
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Number of anti-dilutive warrants, options and restricted shares, for the year	43,008	57,573	1,936,871
CIBC World Markets Corp. | January 2008 Acquisition
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Period for exercise of warrant	5 years
Acquisition date of CIBC World Markets Corp.	14-Jan-08
Warrants expire date	4/13/13
CIBC World Markets Corp. | January 2008 Acquisition | Class A Stock
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Company issued a warrant to purchase share of Class A Stock	1,000,000
Class A Stock exercisable	48.62

Income_Taxes_Schedule_of_Recon

Income Taxes - Schedule of Reconciliation of Effective Income Tax Rate (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	$9,008	$15,368	($184)
U.S. state and local income taxes, net of U.S. federal income tax benefits	2,033	2,131	-1,585
Unrecognized tax benefit	6	1,244	1,524
Tax exempt income, net of interest expense	-528	-715	-561
Non-deductible regulatory settlements	5,298	0	306
Business promotion and other non-deductible expenses	655	660	545
Insurance proceeds, non-taxable	-65	-597	-349
Adjustment to reflect prior year tax return filings	256	-251	-294
Tax rate change on deferred income taxes	241	208	390
Non-U.S. operations	-447	185	678
Other	-282	-477	-146
Total	$16,175	$17,756	$324
U.S. federal statutory income tax rate, percent	35.00%	35.00%	35.00%
U.S. state and local income taxes, net of U.S. federal income tax benefits, percent	7.90%	4.90%
Unrecognized tax benefits, percent	0.00%	2.80%
Tax exempt income, net of interest expense, percent	-2.00%	-1.60%
Non-deductible regulatory settlements, percent	20.60%	0.00%
Business promotion and other non-deductible expenses, percent	2.50%	1.50%
Insurance proceeds, non-taxable, percent	-0.30%	-1.40%
Adjustment to reflect prior year tax return filings, percent	1.00%	-0.60%
Tax rate change on deferred income taxes, percent	0.90%	0.50%
Non-U.S. operations, percent	-1.70%	0.40%
Other, percent	-1.10%	-1.10%
Total income tax expense, percent	62.80%	40.40%

Income_Taxes_Schedule_of_Curre

Income Taxes - Schedule of Current and Deferred Income Tax (Benefit) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current:
U.S. federal tax (benefit)	$10,302	($2,984)	$19,918
State and local tax	1,520	1,885	2,765
Non-U.S. operations	-264	116	-61
Total Current	11,558	-983	22,622
Deferred:
U.S. federal tax (benefit)	1,273	16,658	-17,303
State and local tax (benefit)	2,057	2,482	-4,890
Non-U.S. operations	1,287	-401	-105
Total Deferred	4,617	18,739	-22,298
Total	$16,175	$17,756	$324

Income_Taxes_Schedule_of_Signi

Income Taxes - Schedule of Significant Components of Deferred Tax Assets and Liabilities (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Deferred tax assets:
Employee deferred compensation plans	$30,969	$31,213
Deferred rent	10,024	10,451
Lease incentive	6,212	6,693
Broker notes	3,460	3,915
Auction rate securities reserve	3,229	3,669
Net operating loss	2,896	4,587
Involuntary conversion	2,033	1,866
Reserve for litigation and legal fees	5,808	1,659
Allowance for doubtful accounts	984	1,002
State and local net operating loss/credit carryforward	357	1,993
Other	2,650	2,757
Total deferred tax assets	68,622	69,805
Valuation allowance	113	138
Deferred tax assets after valuation allowance	68,509	69,667
Deferred tax liabilities:
Goodwill amortization (Section 197)	48,025	43,728
Partnership investments	10,865	12,039
Mortgage servicing rights	12,173	9,889
Company owned life insurance	6,501	5,173
Change in accounting method	2,591	3,895
Book versus tax depreciation differences	982	1,437
Other	469	602
Total deferred tax liabilities	81,606	76,763
Deferred tax liabilities, net	($13,097)	($7,096)

Income_Taxes_Schedule_of_Unrec

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning Balance	$1,574	$5,236	$2,317
Additions for tax positions of prior years	0	1,168	2,919
Additions for tax positions of current year	9	77	0
Reclass to other tax accounts	0	-4,907	0
Ending Balance	$1,583	$1,574	$5,236

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Schedule Of Income Taxes [Line Items]
Profit (loss) before income taxes for foreign operations	$4,300,000	($1,300,000)	($2,400,000)
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Amount	18,400,000
Unrecognized deferred tax liability related to earnings of foreign subsidiaries	2,300,000
Deferred tax asset arising from New York State Investment Tax Credits and Employment Incentive Credits	-13,097,000	-7,096,000
Credits expiration date	2028
Goodwill amortized period	15 years
Unrecognized tax benefits	1,583,000	1,574,000	5,236,000	2,317,000
Unrecognized tax benefit that would impact tax rate	1,300,000	1,300,000
Reclass to other tax accounts	0	4,907,000	0
Income tax-related interest (benefit) expense	22,000	-284,000
Income tax-related interest payable	83,000	61,000
State and Local Jurisdiction
Schedule Of Income Taxes [Line Items]
Deferred tax asset arising from New York State Investment Tax Credits and Employment Incentive Credits	726,000
State and Local Jurisdiction | New York State | Minimum
Schedule Of Income Taxes [Line Items]
Income tax examination year	2008
State and Local Jurisdiction | New York State | Maximum
Schedule Of Income Taxes [Line Items]
Income tax examination year	2011
State and Local Jurisdiction | New York City | Minimum
Schedule Of Income Taxes [Line Items]
Income tax examination year	2009
State and Local Jurisdiction | New York City | Maximum
Schedule Of Income Taxes [Line Items]
Income tax examination year	2012
Oppenheimer Israel (OPCO) Ltd.
Schedule Of Income Taxes [Line Items]
Net operating loss carryforward	1,700,000
Oppenheimer Investments Asia Ltd.
Schedule Of Income Taxes [Line Items]
Net operating loss carryforward	898,000
Oppenheimer Europe Ltd
Schedule Of Income Taxes [Line Items]
Net operating loss carryforward	$191,000

Employee_Compensation_Plans_Su

Employee Compensation Plans - Summarizes of Company's Non-Vested ESP/EIP Awards (Details) (Restricted Stock, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares, Non-vested beginning of year	1,247,476
Granted, Number of shares	345,260
Vested, Number of shares	-219,180
Forfeited or expired, Number of shares	-134,210
Number of shares, Non-vested end of year	1,239,346	1,247,476
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures
Weighted average fair value, Non-vested beginning of year	$17.87
Weighted average fair value, Granted	$22.26
Weighted average fair value, Vested	$11.72
Weighted average fair value, Forfeited or expired	$18.43
Weighted average fair value, Non-vested end of year	$20.12	$17.87
Remaining contractual life, Non-vested beginning of year	1 year 8 months 12 days	2 years
Remaining contractual life, Granted	2 years 2 months 12 days
Remaining contractual life, Non-vested end of year	1 year 8 months 12 days	2 years

Employee_Compensation_Plans_Sc

Employee Compensation Plans - Schedule of Fair Value of Awarded Stock Option Estimated on Grant Date Using Black-Scholes Model (Details) (USD $)	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011		Dec. 31, 2010
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Term granted for options	5 years	[1]	5 years	[1]	5 years	[1]	5 years	[1]	4 years 6 months	[1]
Expected volatility factor	56.31%	[2]	53.82%	[2]	54.95%	[2]	52.52%	[2]	48.58%	[2]
Risk-free interest rate	1.49%	[3]	0.84%	[3]	0.70%	[3]	2.00%	[3]	2.62%	[3]
Actual dividends	$0.44	[4]	$0.44	[4]	$0.44	[4]	$0.44	[4]	$0.44	[4]
[1]	The expected term was determined based on actual awards.
[2]	The volatility factor was measured using the weighted average of historical daily price changes of the Company’s Class A Stock over a historical period commensurate to the expected term of the awards.
[3]	The risk-free interest rate was based on periods equal to the expected term of the awards based on the U.S. Treasury yield curve in effect at the time of grant.
[4]	Actual dividends were used to compute the expected annual dividend yield.

Employee_Compensation_Plans_Sc1

Employee Compensation Plans - Schedule of Stock Option Activity (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, Number of shares, beginning of year	72,573	86,803
Options granted, Number of shares	2,976	951
Options exercised, Number of shares	-15,000	-12,165
Options forfeited or expired, Number of shares	-15,000	-3,016
Options outstanding, Number of shares, end of year	45,549	72,573
Share-based Compensation Arrangement by Share-based Payment Award, Options, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options outstanding, Weighted average exercise price, beginning of year	$24.46	$23.35
Options granted, Weighted average exercise price	$23.49	$17.20
Options exercised, Weighted average exercise price	$12.33	$12.30
Options forfeited or expired, Weighted average exercise price	$33.22	$39.45
Options outstanding, Weighted average exercise price, end of year	$25.50	$24.46
Options vested, Number of shares, end of year	30,513	45,683
Options vested, Weighted average exercise price, end of year	$25.99	$23.34
Weighted average fair value of options granted during the year, Number of shares	$9.94	$6.60

Employee_Compensation_Plans_Su1

Employee Compensation Plans - Summarizes Stock Options Outstanding and Exercisable (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
$17.20 - $25.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding	8,216
Weighted Average Remaining Contractual Life	2 years 3 months 11 days
Weighted Average Exercise Price of Outstanding Options	$22.45
Number of Options Exercisable (Vested)	3,097
Weighted Average Exercise Price of Vested Options	$24.27
Lower range of exercise prices	$17.20
Upper range of exercise prices	$25
$25.01 - $26.21
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding	37,333
Weighted Average Remaining Contractual Life	1 year
Weighted Average Exercise Price of Outstanding Options	$26.18
Number of Options Exercisable (Vested)	27,416
Weighted Average Exercise Price of Vested Options	$26.19
Lower range of exercise prices	$25.01
Upper range of exercise prices	$26.21
$17.20 - $26.21
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding	45,549
Weighted Average Remaining Contractual Life	1 year 2 months 23 days
Weighted Average Exercise Price of Outstanding Options	$25.50
Number of Options Exercisable (Vested)	30,513
Weighted Average Exercise Price of Vested Options	$25.99
Lower range of exercise prices	$17.20
Upper range of exercise prices	$26.21

Employee_Compensation_Plans_Su2

Employee Compensation Plans - Summarizes of Company's Non-Vested Options (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Number of Options, Non-vested beginning of year	26,890
Number of Options, Granted	2,976	951
Number of Options, Vested	-14,830
Number of Options, Non-vested end of year	15,036	26,890
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average fair value, Non-vested beginning of year	$10.86
Weighted average fair value, Granted	$9.94	$6.60
Weighted average fair value, Vested	$11.38
Weighted average fair value, Non-vested end of year	$10.17	$10.86

Employee_Compensation_Plans_St

Employee Compensation Plans - Stock Appreciation Rights (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding	1,840,910
Total weighted average strike price	$22.36
Total weighted average remaining contractual life	2 years 4 months 24 days
Total weighted average fair value per share	$5.17
12-Jan-09
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding	235,890
Strike price	$30.68
Remaining contractual life	18 days
Fair value per share	$0
19-Jan-10
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding	326,480
Strike price	$26.35
Remaining contractual life	1 year
Fair value per share	$1.63
13-Jan-11
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding	366,650
Strike price	$18.94
Remaining contractual life	2 years
Fair value per share	$5.71
19-Jan-12
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding	403,340
Strike price	$15.94
Remaining contractual life	3 years
Fair value per share	$8.36
January Fourteen Two Thousand Thirteen
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding	508,550
Strike price	$23.48
Remaining contractual life	4 years
Fair value per share	$6.94

Employee_Compensation_Plans_Ad

Employee Compensation Plans - Additional Information (Narrative) (Details) (USD $)

12 Months Ended

0 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Jan. 29, 2015

Jan. 09, 2015

Jan. 28, 2019

Feb. 26, 2015

Jan. 28, 2015

employee_compensation_plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of Employee Compensation Plans Granted

2

Term granted for options

5 years

[1]

5 years

[1]

5 years

[1]

5 years

[1]

4 years 6 months

[1]

Maximum annual contribution under Defined Contribution Plan

$17,500

$17,500

$17,000

Employer contribution to Defined Contribution Plan

1,200,000

1,300,000

1,100,000

Deferred bonus amounts

8,600,000

8,500,000

8,100,000

Vesting period of deferred bonus

5 years

Company-owned life insurance policy designed to offset a percentage of the EDCP liability

60.00%

Deferred compensation plans cost

11,400,000

17,800,000

12,100,000

Number of Options, Granted

2,976

951

Restricted Stock | Class A Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Aggregate intrinsic value of ESP awards outstanding

28,800,000

The aggregate intrinsic value of ESP awards that are expected to vest

27,900,000

Compensation expense relating to the share-based awards

5,600,000

5,000,000

3,400,000

Unrecognized compensation cost related to unvested share-based compensation

9,600,000

Cost is expected to be recognized over a weighted average period

1 year 8 months 12 days

Number of shares of Class A Stock available

998,615

Employee Stock Option

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense relating to the share-based awards

133,600

158,200

164,200

Cost is expected to be recognized over a weighted average period

1 year 2 months 23 days

Aggregate intrinsic value of options outstanding

12,000

Aggregate intrinsic value of vested options

1,600

Aggregate intrinsic value of options that are expected to vest

11,400

Unrecognized compensation cost related to unvested share-based compensation

74,300

Employee Stock Option | Subsequent Events

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period under share based payment

4 years 6 months

Number of Options, Granted

4,177

Stock Appreciation Rights

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense relating to the share-based awards

380,100

4,100,000

590,000

Cost is expected to be recognized over a weighted average period

2 years 4 months 24 days

Aggregate intrinsic value of OARs outstanding and expected to vest

4,500,000

Liability related to the OARs

3,400,000

Total unrecognized compensation cost

5,300,000

Stock Appreciation Rights | Subsequent Events

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period under share based payment

5 years

Number of OARs

567,600

Employee Share Plan | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period under share based payment

3 years

Employee Share Plan | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period under share based payment

5 years

Oppenheimer Holdings Inc. Stock Appreciation Right Plan | Stock Appreciation Rights

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period under share based payment

5 years

Equity Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Term granted for options

5 years

Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period

6 months

Equity Incentive Plan | Vesting Period Five Years | Class A Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Term granted for options

5 years

Equity Incentive Plan | Second Anniversary

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage under share based payment

25.00%

Equity Incentive Plan | Third Anniversary

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage under share based payment

25.00%

Equity Incentive Plan | Fourth Anniversary

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage under share based payment

25.00%

Equity Incentive Plan | Six Months Before Expiration

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting percentage under share based payment

25.00%

Stock Incentive Plan 2014 | Subsequent Events | Class A Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares awarded

133,681

138,900

Shares vesting period

28-Jan-18

Stock Incentive Plan 2014 | Subsequent Events | Class A Stock | Non Employee Director

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares awarded

14,000

Next three years vesting percentage of shares

25.00%

Stock Incentive Plan 2014 | Restricted Stock | Subsequent Events | Class A Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period under share based payment

3 years

5 years

Number of shares awarded

31,690

13,795

Stock Incentive Plan 2014 | Vesting Period Three Years | Subsequent Events | Class A Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period under share based payment

3 years

3 years

Number of shares awarded

59,876

Stock Incentive Plan 2014 | Vesting Period Five Years | Subsequent Events | Class A Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period under share based payment

5 years

5 years

Number of shares awarded

73,805

Executive Deferred Compensation Plan and Deferred Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Company's deferred compensation liability

49,600,000

CIBC Deferred Compensation Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Company's deferred compensation liability

$16,000,000

[1]

The expected term was determined based on actual awards.

Commitments_and_Contingencies_1

Commitments and Contingencies - Future Minimum Rental Commitments under Office and Equipment Leases (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Commitments and Contingencies Disclosure [Abstract]
2014	$40,807
2015	38,318
2016	33,833
2017	31,779
2018	26,302
2020 and thereafter	130,362
Total	$301,401

Commitments_and_Contingencies_2

Commitments and Contingencies - Additional Information (Narrative) (Details) (USD $)	12 Months Ended			0 Months Ended			6 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 27, 2017	Feb. 27, 2015	Jan. 27, 2015	Jun. 30, 2014	Feb. 09, 2015
Loss Contingencies [Line Items]
Operating leases expiring at various dates through	2028
Rent expense	$45,600,000	$46,400,000	$51,200,000
Capital Commitments Relating To Investments	5,100,000
Minimum estimated range of aggregate loss for legal proceedings	0
Maximum estimated range of aggregate loss for legal proceedings	31,000,000
Purchase Commitments Outstanding, Auction Rate Securities Related to Settlements with Regulators	825,000
Eligible investor subject to future buyback principal value	101,400,000
Eligible investor subject to future buyback potential additional losses related to valuation adjustments	0
Period of auction rates security to be purchased from rendering of the award	30 days
Auction rate securities
Loss Contingencies [Line Items]
Total amount of ARS the firm purchased and hold	98,600,000
Amount of ARS committed to purchase from clients	12,200,000
SEC | Subsequent Events | Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Litigation Settlement, Amount						10,000,000
Payments for Legal Settlements				5,000,000	5,000,000
SEC | Subsequent Events | Unfavorable Regulatory Action, Disgorgement
Loss Contingencies [Line Items]
Litigation Settlement, Amount						4,200,000
SEC | Subsequent Events | Unfavorable Regulatory Action, Prejudgment Interest
Loss Contingencies [Line Items]
Litigation Settlement, Amount						753,500
SEC | Subsequent Events | Unfavorable Regulatory Action, Civil Penalties
Loss Contingencies [Line Items]
Litigation Settlement, Amount						5,100,000
United States Department of the Treasury | Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Litigation Settlement, Expense							20,000,000
United States Department of the Treasury | Subsequent Events | Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Litigation Settlement, Amount						10,000,000
Payments for Legal Settlements					$5,000,000			$5,000,000

Regulatory_Requirements_Additi

Regulatory Requirements - Additional Information (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Regulatory Capital Requirements [Line Items]
Cash and securities segregated for regulatory and other purposes	$18,594,000	$36,323,000
Oppenheimer
Regulatory Capital Requirements [Line Items]
Required percentage of net capital to aggregate customer-related debit items	2.00%
Net capital	161,100,000
Actual percentage of net capital to aggregate customer-related debit items	12.63%
Excess capital	135,600,000
Freedom
Regulatory Capital Requirements [Line Items]
Net capital	4,500,000
Freedom maintain net capital equal to the greater	250,000
Aggregate indebtedness	6.67%
Net capital in excess of minimum required	4,300,000
Cash and securities segregated for regulatory and other purposes	17,700,000
Oppenheimer Europe Ltd
Regulatory Capital Requirements [Line Items]
Net capital	6,400,000
Net capital in excess of minimum required	2,200,000
Common Equity Tier 1 Ratio	10.74%
Common Equity Tier 1 Ratio Required	4.50%
Tier 1 Capital Ratio	10.74%
Tier 1 Capital Ratio Required	6.00%
Total Capital Ratio	12.16%
Total Capital Ratio Required	8.00%
Regulatory capital required to be maintained	4,200,000
Oppenheimer Investments Asia Ltd.
Regulatory Capital Requirements [Line Items]
Net capital	2,400,000
Net capital in excess of minimum required	2,000,000
Regulatory capital required to be maintained	$387,000

Goodwill_and_intangibles_Addit

Goodwill and intangibles - Additional Information (Narrative) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Goodwill [Line Items]
Goodwill	$137,889	$137,889
Carrying value of intangibles	31,700	31,700
Trademarks and Trade Name
Goodwill [Line Items]
Carrying value of intangibles	31,700
PCD
Goodwill [Line Items]
Goodwill	$137,900

Segment_Information_Reported_R

Segment Information - Reported Revenue and Profit Before Income Taxes (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Revenue
Total revenue	$254,928	$244,679	$249,689	$255,168	$293,362	$243,376	$243,830	$239,146	$1,004,464		$1,019,714		$952,612
Income (loss) before income taxes
Total income (loss) before income taxes	9,595	10,896	136	5,109	23,359	8,163	5,674	6,713	25,736		43,909		-527
Private Client Division
Revenue
Total revenue									582,364	[1]	600,071	[1]	550,797	[1]
Income (loss) before income taxes
Total income (loss) before income taxes									60,116	[1]	65,924	[1]	53,487	[1]
Asset management fees									77.50%		77.50%		77.50%
Asset Management
Revenue
Total revenue									99,964	[1]	102,214	[1]	84,160	[1]
Income (loss) before income taxes
Total income (loss) before income taxes									33,707	[1]	40,951	[1]	25,436	[1]
Asset management fees									22.50%		22.50%		22.50%
Capital markets
Revenue
Total revenue									298,597		281,377		283,139
Income (loss) before income taxes
Total income (loss) before income taxes									17,819		6,968		-15,324
Commercial mortgage banking
Revenue
Total revenue									23,329		34,144		35,682
Income (loss) before income taxes
Total income (loss) before income taxes									8,546		11,413		15,267
Corporate/Other
Revenue
Total revenue									210		1,908		-1,166
Income (loss) before income taxes
Total income (loss) before income taxes									($94,452)		($81,347)		($79,393)
[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 (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$254,928	$244,679	$249,689	$255,168	$293,362	$243,376	$243,830	$239,146	$1,004,464	$1,019,714	$952,612
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									955,361	978,249	916,568
Europe/Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									43,087	36,516	34,913
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									$6,016	$4,949	$1,131

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Narrative) (Details) (Subsequent Events, USD $)	0 Months Ended
	Jan. 30, 2015
Class A Stock
Subsequent Events [Line Items]
Date of announcement of dividend	30-Jan-15
Quarterly dividend payable amount per share	$0.11
Date of payment of dividend	27-Feb-15
Date of record of dividend	13-Feb-15
Class B Stock
Subsequent Events [Line Items]
Date of announcement of dividend	30-Jan-15
Quarterly dividend payable amount per share	$0.11
Date of payment of dividend	27-Feb-15
Date of record of dividend	13-Feb-15

Quarterly_Information_Schedule

Quarterly Information - Schedule of Quarterly Information (Details) (USD $)	3 Months Ended																12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2013		Sep. 30, 2013		Jun. 30, 2013		Mar. 31, 2013		Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]
Revenue	$254,928		$244,679		$249,689		$255,168		$293,362		$243,376		$243,830		$239,146		$1,004,464		$1,019,714		$952,612
Income before income taxes	9,595		10,896		136		5,109		23,359		8,163		5,674		6,713		25,736		43,909		-527
Net income attributable to Oppenheimer Holdings Inc.	$2,686		$4,470		($1,554)		$3,224		$13,313		$5,237		$2,848		$3,663		$8,826		$25,061		($3,613)
Earnings per share attributable to Oppenheimer Holdings Inc.
Basic earnings per share	$0.20		$0.33		($0.11)		$0.24		$0.99		$0.38		$0.21		$0.27		$0.65		$1.85		($0.27)
Diluted earnings per share	$0.19		$0.31		($0.11)		$0.23		$0.94		$0.37		$0.20		$0.26		$0.62		$1.77		($0.27)
Dividends per share	$0.11		$0.11		$0.11		$0.11		$0.11		$0.11		$0.11		$0.11		$0.44		$0.44
Market price of Class A Stock
High	$24.70	[1]	$24.80	[1]	$28.86	[1]	$29.75	[1]	$24.80	[1]	$19.75	[1]	$20	[1]	$21	[1]	$29.75	[1]	$24.80	[1]
Low	$19.97	[1]	$19.76	[1]	$21.28	[1]	$22.26	[1]	$16.66	[1]	$16.52	[1]	$16.75	[1]	$15.69	[1]	$19.76	[1]	$15.69	[1]
[1]	The price quotations above were obtained from the New York Stock Exchange website.

Supplemental_Guarantor_Condens

Supplemental Guarantor Condensed Consolidated Financial Statements - Additional Information (Narrative) (Details)	12 Months Ended
	Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Interest owned by the holding company	100.00%

Supplemental_Guarantor_Condens1

Supplemental Guarantor Condensed Consolidated Financial Statements - Condensed Consolidating Balance Sheet (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
ASSETS
Cash and cash equivalents	$63,807	$98,294	$135,366	$70,329
Cash and securities segregated for regulatory and other purposes	18,594	36,323
Deposits with clearing organizations	36,510	23,679
Receivable from brokers, dealers and clearing organizations	314,475	364,873
Receivable from customers, net of allowance for credit losses of $2,427 ($2,423 in 2013)	864,189	868,869
Income tax receivable	4,240	6,562
Securities purchased under agreements to resell	251,606	184,825
Securities owned, including amounts pledged of $518,123 ($586,625 in 2013) at fair value	843,155	856,088
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $42,211 and $8,606, respectively ($54,465 and $9,718, respectively, in 2013)	34,932	40,751
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	29,589	32,939
Loans held for sale	19,243	75,989
Mortgage servicing rights	30,140	28,879	26,983
Subordinated loan receivable	0	0
Intangible assets	31,700	31,700
Goodwill	137,889	137,889
Other assets	107,386	165,060
Deferred tax assets	0	0
Investment in subsidiaries	0	0
Intercompany receivables	0	0
Total assets	2,787,455	2,952,720
Liabilities
Drafts payable	35,373	48,198
Bank call loans	59,400	118,200
Payable to brokers, dealers and clearing organizations	257,161	223,315
Payable to customers	652,256	626,564
Securities sold under agreements to repurchase	687,440	757,491
Securities sold, but not yet purchased, at fair value	92,510	76,314
Accrued compensation	165,134	180,119
Accounts payable and other liabilities	141,352	192,552
Income tax payable	0	0
Senior secured notes	150,000	195,000
Subordinated indebtedness	0	0
Deferred tax liabilities, net of deferred tax assets of $65,502 ($65,122 in 2013)	13,097	7,096
Intercompany payables	0	0
Total liabilities	2,253,723	2,424,849
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc.	527,644	522,518
Non-controlling interest	6,088	5,353
Total stockholders’ equity	533,732	527,871	505,001
Total liabilities and stockholders’ equity	2,787,455	2,952,720
Allowance for credit losses	2,427	2,423
Amounts pledged	518,123	586,625
Notes Receivable, Net Accumulated Amortization	42,211	54,465
Notes Receivable, Net Allowance for Uncollectibles	8,606	9,718
Net accumulated depreciation	103,547	97,118
Eliminations
ASSETS
Cash and cash equivalents	0	0	0	0
Cash and securities segregated for regulatory and other purposes	0	0
Deposits with clearing organizations	0	0
Receivable from brokers, dealers and clearing organizations	0	0
Receivable from customers, net of allowance for credit losses of $2,427 ($2,423 in 2013)	0	0
Income tax receivable	-51,134	-40,521
Securities purchased under agreements to resell	0	0
Securities owned, including amounts pledged of $518,123 ($586,625 in 2013) at fair value	0	0
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $42,211 and $8,606, respectively ($54,465 and $9,718, respectively, in 2013)	0	0
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	0	0
Loans held for sale	0	0
Mortgage servicing rights	0	0
Subordinated loan receivable	-112,558	-112,558
Intangible assets	0	0
Goodwill	0	0
Other assets	0	0
Deferred tax assets	-28,300	-30,483
Investment in subsidiaries	-1,109,833	-1,109,003
Intercompany receivables	-87,442	-153,528
Total assets	-1,389,267	-1,446,093
Liabilities
Drafts payable	0	0
Bank call loans	0	0
Payable to brokers, dealers and clearing organizations	0	0
Payable to customers	0	0
Securities sold under agreements to repurchase	0	0
Securities sold, but not yet purchased, at fair value	0	0
Accrued compensation	0	0
Accounts payable and other liabilities	0	-88
Income tax payable	-51,134	-40,521
Senior secured notes	0	0
Subordinated indebtedness	-112,558	-112,558
Deferred tax liabilities, net of deferred tax assets of $65,502 ($65,122 in 2013)	-28,300	-30,483
Intercompany payables	-87,442	-153,528
Total liabilities	-279,434	-337,178
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc.	-1,109,833	-1,108,915
Non-controlling interest	0	0
Total stockholders’ equity	-1,109,833	-1,108,915
Total liabilities and stockholders’ equity	-1,389,267	-1,446,093
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	1,557	30,901	40,658	11,882
Cash and securities segregated for regulatory and other purposes	0	0
Deposits with clearing organizations	0	0
Receivable from brokers, dealers and clearing organizations	0	0
Receivable from customers, net of allowance for credit losses of $2,427 ($2,423 in 2013)	0	0
Income tax receivable	27,304	27,589
Securities purchased under agreements to resell	0	0
Securities owned, including amounts pledged of $518,123 ($586,625 in 2013) at fair value	5,806	2,225
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $42,211 and $8,606, respectively ($54,465 and $9,718, respectively, in 2013)	0	0
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	20,181	21,250
Loans held for sale	0	0
Mortgage servicing rights	0	0
Subordinated loan receivable	112,558	112,558
Intangible assets	0	0
Goodwill	0	0
Other assets	3,803	27,113
Deferred tax assets	309	309
Investment in subsidiaries	544,576	562,248
Intercompany receivables	0	0
Total assets	716,094	784,193
Liabilities
Drafts payable	0	0
Bank call loans	0	0
Payable to brokers, dealers and clearing organizations	0	0
Payable to customers	0	0
Securities sold under agreements to repurchase	0	0
Securities sold, but not yet purchased, at fair value	0	0
Accrued compensation	0	0
Accounts payable and other liabilities	35,800	59,289
Income tax payable	22,189	22,189
Senior secured notes	0	0
Subordinated indebtedness	0	0
Deferred tax liabilities, net of deferred tax assets of $65,502 ($65,122 in 2013)	88	0
Intercompany payables	76,492	133,421
Total liabilities	134,569	214,899
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc.	581,525	569,294
Non-controlling interest	0	0
Total stockholders’ equity	581,525	569,294
Total liabilities and stockholders’ equity	716,094	784,193
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	61,811	66,945	94,673	55,892
Cash and securities segregated for regulatory and other purposes	18,594	36,323
Deposits with clearing organizations	36,510	23,679
Receivable from brokers, dealers and clearing organizations	314,475	364,873
Receivable from customers, net of allowance for credit losses of $2,427 ($2,423 in 2013)	864,189	868,869
Income tax receivable	0	0
Securities purchased under agreements to resell	251,606	184,825
Securities owned, including amounts pledged of $518,123 ($586,625 in 2013) at fair value	837,349	853,863
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $42,211 and $8,606, respectively ($54,465 and $9,718, respectively, in 2013)	34,932	40,751
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	9,408	11,689
Loans held for sale	19,243	75,989
Mortgage servicing rights	30,140	28,879
Subordinated loan receivable	0	0
Intangible assets	31,700	31,700
Goodwill	137,889	137,889
Other assets	101,897	135,150
Deferred tax assets	27,973	29,496
Investment in subsidiaries	0	0
Intercompany receivables	0	0
Total assets	2,777,716	2,890,920
Liabilities
Drafts payable	35,373	48,198
Bank call loans	59,400	118,200
Payable to brokers, dealers and clearing organizations	257,161	223,315
Payable to customers	652,256	626,564
Securities sold under agreements to repurchase	687,440	757,491
Securities sold, but not yet purchased, at fair value	92,510	76,314
Accrued compensation	165,134	180,119
Accounts payable and other liabilities	102,724	129,609
Income tax payable	26,505	15,892
Senior secured notes	0	0
Subordinated indebtedness	112,558	112,558
Deferred tax liabilities, net of deferred tax assets of $65,502 ($65,122 in 2013)	41,309	37,579
Intercompany payables	10,950	20,107
Total liabilities	2,243,320	2,345,946
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc.	528,308	539,621
Non-controlling interest	6,088	5,353
Total stockholders’ equity	534,396	544,974
Total liabilities and stockholders’ equity	2,777,716	2,890,920
Parent
ASSETS
Cash and cash equivalents	439	448	35	2,555
Cash and securities segregated for regulatory and other purposes	0	0
Deposits with clearing organizations	0	0
Receivable from brokers, dealers and clearing organizations	0	0
Receivable from customers, net of allowance for credit losses of $2,427 ($2,423 in 2013)	0	0
Income tax receivable	28,070	19,494
Securities purchased under agreements to resell	0	0
Securities owned, including amounts pledged of $518,123 ($586,625 in 2013) at fair value	0	0
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $42,211 and $8,606, respectively ($54,465 and $9,718, respectively, in 2013)	0	0
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	0	0
Loans held for sale	0	0
Mortgage servicing rights	0	0
Subordinated loan receivable		0
Intangible assets	0	0
Goodwill	0	0
Other assets	1,686	2,797
Deferred tax assets	18	678
Investment in subsidiaries	565,257	546,755
Intercompany receivables	87,442	153,528
Total assets	682,912	723,700
Liabilities
Drafts payable	0	0
Bank call loans	0	0
Payable to brokers, dealers and clearing organizations	0	0
Payable to customers	0	0
Securities sold under agreements to repurchase	0	0
Securities sold, but not yet purchased, at fair value	0	0
Accrued compensation	0	0
Accounts payable and other liabilities	2,828	3,742
Income tax payable	2,440	2,440
Senior secured notes	150,000	195,000
Subordinated indebtedness		0
Deferred tax liabilities, net of deferred tax assets of $65,502 ($65,122 in 2013)	0	0
Intercompany payables	0	0
Total liabilities	155,268	201,182
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc.	527,644	522,518
Non-controlling interest	0	0
Total stockholders’ equity	527,644	522,518	500,740
Total liabilities and stockholders’ equity	$682,912	$723,700

Supplemental_Guarantor_Condens2

Supplemental Guarantor Condensed Consolidated Financial Statements - Condensed Consolidating Statement of Operations (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
REVENUES
Commissions									$469,829	$486,767		$469,865
Advisory fees									281,680	274,178		222,732
Investment banking									125,598	97,977		89,477
Interest									49,244	53,216		57,662
Principal transactions, net									29,699	43,768		54,311
Other									48,414	63,808		58,565
Total revenue	254,928	244,679	249,689	255,168	293,362	243,376	243,830	239,146	1,004,464	1,019,714		952,612
EXPENSES
Compensation and related expenses									664,641	675,936		626,411
Communications and technology									67,170	65,817		63,359
Occupancy and equipment costs									63,012	66,758		62,818
Clearing and exchange fees									24,709	24,481		23,750
Interest									17,801	26,142		35,086
Other									141,395	116,671		141,715
Total expenses									978,728	975,805		953,139
Income (loss) before income taxes	9,595	10,896	136	5,109	23,359	8,163	5,674	6,713	25,736	43,909		-527
Income tax provision (benefit)									16,175	17,756		324
Equity in earnings of subsidiaries									0	0	[1]	0
Net income (loss) for the year									9,561	26,153		-851
Less net income attributable to non-controlling interest									735	1,092		2,762
Net income (loss) attributable to Oppenheimer Holdings Inc.	2,686	4,470	-1,554	3,224	13,313	5,237	2,848	3,663	8,826	25,061		-3,613
Other comprehensive income (loss)									-2,627	1,502		415
Total comprehensive income									6,199	26,563		-3,198
Eliminations
REVENUES
Commissions									0	0		0
Advisory fees									-3,244	-3,560		-2,494
Investment banking									0	0		0
Interest									-10,431	-11,318		-11,860
Principal transactions, net									0	0		0
Other									-425	-180		-168
Total revenue									-14,100	-15,058		-14,522
EXPENSES
Compensation and related expenses									0	0		0
Communications and technology									0	0		0
Occupancy and equipment costs									-425	-180		-168
Clearing and exchange fees									0	0		0
Interest									-10,431	-11,318		-11,861
Other									-3,244	-3,560		-2,493
Total expenses									-14,100	-15,058		-14,522
Income (loss) before income taxes									0	0		0
Income tax provision (benefit)									0	0		0
Equity in earnings of subsidiaries									-34,698	-69,944	[1]	-9,525
Net income (loss) for the year									-34,698	-69,944		-9,525
Less net income attributable to non-controlling interest									0	0		0
Net income (loss) attributable to Oppenheimer Holdings Inc.									-34,698	-69,944		-9,525
Other comprehensive income (loss)									0	0		0
Total comprehensive income									-34,698	-69,944		-9,525
Guarantor Subsidiaries
REVENUES
Commissions									0	0		0
Advisory fees									1,139	825		0
Investment banking									0	0		0
Interest									10,482	11,128		12,070
Principal transactions, net									164	79		752
Other									477	180		168
Total revenue									12,262	12,212		12,990
EXPENSES
Compensation and related expenses									0	0		0
Communications and technology									0	0		0
Occupancy and equipment costs									0	0		0
Clearing and exchange fees									0	0		0
Interest									0	0		0
Other									733	522		60
Total expenses									733	522		60
Income (loss) before income taxes									11,529	11,690		12,930
Income tax provision (benefit)									3,971	5,638		6,093
Equity in earnings of subsidiaries									13,570	31,946	[1]	0
Net income (loss) for the year									21,128	37,998		6,837
Less net income attributable to non-controlling interest									0	0		0
Net income (loss) attributable to Oppenheimer Holdings Inc.									21,128	37,998		6,837
Other comprehensive income (loss)									0	0		0
Total comprehensive income									21,128	37,998		6,837
Non-Guarantor Subsidiaries
REVENUES
Commissions									469,829	486,767		469,865
Advisory fees									283,785	276,913		225,226
Investment banking									125,598	97,977		89,477
Interest									49,193	53,401		57,452
Principal transactions, net									29,535	43,689		53,559
Other									48,362	63,808		58,565
Total revenue									1,006,302	1,022,555		954,144
EXPENSES
Compensation and related expenses									663,594	674,812		626,014
Communications and technology									67,025	65,698		63,278
Occupancy and equipment costs									63,437	66,938		62,986
Clearing and exchange fees									24,709	24,481		23,750
Interest									13,831	19,960		29,447
Other									139,280	118,400		142,673
Total expenses									971,876	970,289		948,148
Income (loss) before income taxes									34,426	52,266		5,996
Income tax provision (benefit)									20,121	19,228		546
Equity in earnings of subsidiaries									0	0	[1]	0
Net income (loss) for the year									14,305	33,038		5,450
Less net income attributable to non-controlling interest									735	1,092		2,762
Net income (loss) attributable to Oppenheimer Holdings Inc.									13,570	31,946		2,688
Other comprehensive income (loss)									-2,627	1,505		415
Total comprehensive income									10,943	33,451		3,103
Parent
REVENUES
Commissions									0	0		0
Advisory fees									0	0		0
Investment banking									0	0		0
Interest									0	5		0
Principal transactions, net									0	0		0
Other									0	0		0
Total revenue									0	5		0
EXPENSES
Compensation and related expenses									1,047	1,124		397
Communications and technology									145	119		81
Occupancy and equipment costs									0	0		0
Clearing and exchange fees									0	0		0
Interest									14,401	17,500		17,500
Other									4,626	1,309		1,475
Total expenses									20,219	20,052		19,453
Income (loss) before income taxes									-20,219	-20,047		-19,453
Income tax provision (benefit)									-7,917	-7,110		-6,315
Equity in earnings of subsidiaries									21,128	37,998	[1]	9,525
Net income (loss) for the year									8,826	25,061		-3,613
Less net income attributable to non-controlling interest									0	0		0
Net income (loss) attributable to Oppenheimer Holdings Inc.									8,826	25,061		-3,613
Other comprehensive income (loss)									0	-3		0
Total comprehensive income									$8,826	$25,058		($3,613)
[1]	The Company revised amounts in Equity in Earnings of Subsidiaries in the Condensed Consolidating Statement of Operations to properly reflect investments in subsidiaries. Offsetting amounts were adjusted in the eliminations column.

Supplemental_Guarantor_Condens3

Supplemental Guarantor Condensed Consolidated Financial Statements - Condensed Consolidating Statement of Cash Flows (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operations:
Cash provided by (used in) continuing operations	$78,315	($3,429)	($9,452)
Cash flows from investing activities
Purchase of office facilities	-4,398	-14,012	-14,739
Cash used in investing activities	-4,398	-14,012	-14,739
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	-5,983	-5,978	-5,986
Issuance of Class A non-voting common stock	185	150	0
Repurchase of Class A non-voting common stock for cancellation	0	-3,625	-1,866
Tax benefit (deficiency) from share-based awards	1,194	-78	-720
Redemption of senior secured notes	-45,000	0	0
Acquisition of non-controlling interest	0	0	-3,000
Decrease in bank call loans, net	-58,800	-10,100	100,800
Cash (used in) provided by financing activities	-108,404	-19,631	89,228
Net (decrease) increase in cash and cash equivalents	-34,487	-37,072	65,037
Cash and cash equivalents, beginning of year	98,294	135,366	70,329
Cash and cash equivalents, end of year	63,807	98,294	135,366
Eliminations
Cash flows from operations:
Cash provided by (used in) continuing operations	0	0	0
Cash flows from investing activities
Purchase of office facilities	0	0	0
Cash used in investing activities	0	0	0
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	0	0	0
Issuance of Class A non-voting common stock	0	0
Repurchase of Class A non-voting common stock for cancellation		0	0
Tax benefit (deficiency) from share-based awards	0	0	0
Redemption of senior secured notes	0
Acquisition of non-controlling interest			0
Decrease in bank call loans, net	0	0	0
Cash (used in) provided by financing activities	0	0	0
Net (decrease) increase in cash and cash equivalents	0	0	0
Cash and cash equivalents, beginning of year	0	0	0
Cash and cash equivalents, end of year	0	0	0
Guarantor Subsidiaries
Cash flows from operations:
Cash provided by (used in) continuing operations	-29,344	-9,757	31,776
Cash flows from investing activities
Purchase of office facilities	0	0	0
Cash used in investing activities	0	0	0
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	0	0	0
Issuance of Class A non-voting common stock	0	0
Repurchase of Class A non-voting common stock for cancellation		0	0
Tax benefit (deficiency) from share-based awards	0	0	0
Redemption of senior secured notes	0
Acquisition of non-controlling interest			-3,000
Decrease in bank call loans, net	0	0	0
Cash (used in) provided by financing activities	0	0	-3,000
Net (decrease) increase in cash and cash equivalents	-29,344	-9,757	28,776
Cash and cash equivalents, beginning of year	30,901	40,658	11,882
Cash and cash equivalents, end of year	1,557	30,901	40,658
Non-Guarantor Subsidiaries
Cash flows from operations:
Cash provided by (used in) continuing operations	58,064	-3,616	-47,280
Cash flows from investing activities
Purchase of office facilities	-4,398	-14,012	-14,739
Cash used in investing activities	-4,398	-14,012	-14,739
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	0	0	0
Issuance of Class A non-voting common stock	0	0
Repurchase of Class A non-voting common stock for cancellation		0	0
Tax benefit (deficiency) from share-based awards	0	0	0
Redemption of senior secured notes	0
Acquisition of non-controlling interest			0
Decrease in bank call loans, net	-58,800	-10,100	100,800
Cash (used in) provided by financing activities	-58,800	-10,100	100,800
Net (decrease) increase in cash and cash equivalents	-5,134	-27,728	38,781
Cash and cash equivalents, beginning of year	66,945	94,673	55,892
Cash and cash equivalents, end of year	61,811	66,945	94,673
Parent
Cash flows from operations:
Cash provided by (used in) continuing operations	49,595	9,944	6,052
Cash flows from investing activities
Purchase of office facilities	0	0	0
Cash used in investing activities	0	0	0
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	-5,983	-5,978	-5,986
Issuance of Class A non-voting common stock	185	150
Repurchase of Class A non-voting common stock for cancellation		-3,625	-1,866
Tax benefit (deficiency) from share-based awards	1,194	-78	-720
Redemption of senior secured notes	-45,000
Acquisition of non-controlling interest			0
Decrease in bank call loans, net		0	0
Cash (used in) provided by financing activities	-49,604	-9,531	-8,572
Net (decrease) increase in cash and cash equivalents	-9	413	-2,520
Cash and cash equivalents, beginning of year	448	35	2,555
Cash and cash equivalents, end of year	$439	$448	$35