Oppenheimer (OPY) 10-Q 25 Oct 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 25, 2019
Document Information [Line Items]
Entity Registrant Name	OPPENHEIMER HOLDINGS INC
Entity Central Index Key	0000791963
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Current Reporting Status	Yes
Class A Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,698,703
Class B Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		99,665

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 26,193	$ 90,675
Deposits with clearing organizations	73,730	67,678
Receivable from brokers, dealers and clearing organizations	157,734	166,493
Receivable from customers, net of allowance for credit losses of $941 ($886 in 2018)	754,927	720,777
Income tax receivable	2,333	1,014
Securities purchased under agreements to resell	0	290
Securities owned, including amounts pledged of $359,151 ($517,951 in 2018), at fair value	653,194	837,584
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $35,373 and $3,886 respectively ($25,109 and $6,800, respectively, in 2018)	43,920	44,058
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $92,690 ($89,182 in 2018)	32,085	28,988
Operating Lease, Right-of-Use Asset	164,899	0
Intangible assets	32,100	32,100
Goodwill	137,889	137,889
Other assets	124,484	112,768
Total assets	2,203,488	2,240,314
Liabilities
Drafts payable	17,794	16,348
Bank call loans	0	15,000
Payable to brokers, dealers and clearing organizations	364,595	289,207
Payable to customers	313,056	336,616
Securities sold under agreements to repurchase	253,720	484,218
Securities sold but not yet purchased, at fair value	121,880	85,446
Accrued compensation	149,862	167,348
Accounts payable and other liabilities	43,234	87,630
Present value of lease liabilities	208,748	0
Senior secured notes, net of debt issuance costs of $533 ($904 in 2018)	149,467	199,096
Deferred tax liabilities, net of deferred tax assets of $44,736 ($41,722 in 2018)	14,505	14,083
Total liabilities	1,636,861	1,694,992
Commitments and contingencies (note 12)
Share capital
Common stock	46,557	53,392
Contributed capital	45,349	41,776
Retained earnings	473,099	449,989
Accumulated other comprehensive income	1,622	165
Stockholders' Equity Attributable to Parent	566,627	545,322
Total stockholders' equity	566,627
Total liabilities and stockholders' equity	2,203,488	2,240,314
Class A Stock
Share capital
Common stock	46,424	53,259
Class B Stock
Share capital
Common stock	$ 133	$ 133

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Allowance for credit losses	$ 941	$ 886
Amounts pledged	359,151	517,951
Furniture equipment and leasehold improvements, net accumulated depreciation	92,690	89,182
Net deferred tax assets	44,736	41,722
Notes Receivable, Net Accumulated Amortization	35,373	25,109
Notes Receivable, Net Allowance for Uncollectibles	3,886	6,800
Unamortized debt issuance expense	533	$ 904
Operating Lease Right-of-use Asset Accumulated Amortization	$ 19,100
Class A Stock
Common stock, authorized	50,000,000	50,000,000
Common stock, shares issued	12,698,703	12,941,809
Common stock, shares outstanding	12,698,703	12,941,809
Common stock, par value	$ 0.001	$ 0.001
Class B Stock
Common stock, authorized	99,665	99,665
Common stock, shares issued	99,665	99,665
Common stock, shares outstanding	99,665	99,665
Common stock, par value	$ 0.001	$ 0.001

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
REVENUE
Commissions	$ 78,627	$ 79,678	$ 238,932	$ 245,935
Investment Advisory Fee Revenue	80,887	78,154	235,241	232,972
Investment banking	21,798	28,328	81,847	84,442
Proceeds from (Payments for) in Interest-bearing Deposits in Banks	28,894	30,053	94,692	84,203
Interest	12,344	13,403	38,621	38,686
Principal transactions, net	7,606	(16)	22,089	9,110
Other	4,637	8,214	26,076	19,552
Total revenue	234,793	237,814	737,498	714,900
EXPENSES
Compensation and related expenses	151,284	152,846	467,422	457,821
Communications and technology	20,872	18,602	61,457	55,287
Occupancy and equipment costs	16,010	15,106	46,856	45,435
Clearing and exchange fees	5,469	5,378	16,479	17,254
Interest	11,531	12,915	37,709	32,787
Other	23,131	25,813	67,636	77,024
Total expenses	228,297	230,660	697,559	685,608
Operating Income (Loss)	6,496	7,154	39,939	29,292
Income Tax Expense (Benefit)	2,547	2,083	12,421	8,661
Net income attributable to Oppenheimer Holdings Inc.	$ 3,949	$ 5,071	$ 27,518	$ 20,631
Net income per share
Net loss per share (in dollars per share)	$ 0.31	$ 0.38	$ 2.13	$ 1.56
Earnings Per Share, Diluted [Abstract]
Net loss per share (in dollars per share)	$ 0.29	$ 0.36	$ 1.99	$ 1.47
Weighted average shares
Basic (in shares)	12,825,944	13,269,024	12,940,129	13,252,596
Diluted (in shares)	13,832,994	14,140,263	13,846,139	14,043,326

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net Income (Loss) Attributable to Parent	$ 3,949	$ 5,071	$ 27,518	$ 20,631
Other comprehensive income (loss), net of tax
Currency translation adjustment	533	99	1,457	(880)
Comprehensive income	$ 4,482	$ 5,170	$ 28,975	$ 19,751

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Share Capital	Share CapitalClass A Stock	Contributed Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period at Dec. 31, 2017		$ 58,492		$ 36,546	$ 426,930	$ 1,582
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock			$ 794
Repurchase of Class A non-voting common stock for cancellation			0
Net Income (Loss) Attributable to Parent	$ 20,631				20,631
Share-based expense				4,647
Vested employee share plan awards				(831)
Dividends paid					(4,373)
Currency translation adjustment	(880)					(880)
Cumulative Effect on Retained Earnings, Net of Tax					339
Balance at end of period at Sep. 30, 2018	543,877	59,286		40,362	$ 443,527	702
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends					$ 0.33
Balance at beginning of period at Jun. 30, 2018		58,825		39,287	$ 439,926	603
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock			461
Repurchase of Class A non-voting common stock for cancellation			0
Net Income (Loss) Attributable to Parent	5,071				5,071
Share-based expense				1,551
Vested employee share plan awards				(476)
Dividends paid					(1,460)
Currency translation adjustment	99					99
Cumulative Effect on Retained Earnings, Net of Tax					(10)
Balance at end of period at Sep. 30, 2018	543,877	59,286		40,362	$ 443,527	702
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends					$ 0.11
Balance at beginning of period at Dec. 31, 2018		53,392		41,776	$ 449,989	165
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock			1,565
Repurchase of Class A non-voting common stock for cancellation			(8,400)
Net Income (Loss) Attributable to Parent	27,518
Share-based expense				6,071
Vested employee share plan awards				(2,498)
Dividends paid					(4,408)
Currency translation adjustment	1,457					1,457
Cumulative Effect on Retained Earnings, Net of Tax					0
Balance at end of period at Sep. 30, 2019	566,627	46,557		45,349	$ 473,099	1,622
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends					$ 0.34
Balance at beginning of period at Jun. 30, 2019		48,202		43,626	$ 470,693	1,089
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock			403
Repurchase of Class A non-voting common stock for cancellation			$ (2,048)
Net Income (Loss) Attributable to Parent	3,949
Share-based expense				2,045
Vested employee share plan awards				(322)
Dividends paid					(1,543)
Currency translation adjustment	533					533
Cumulative Effect on Retained Earnings, Net of Tax					0
Balance at end of period at Sep. 30, 2019	$ 566,627	$ 46,557		$ 45,349	$ 473,099	$ 1,622
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends					$ 0.12

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Retained Earnings
Dividends	$ 0.12	$ 0.11	$ 0.34	$ 0.33

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Statement of Cash Flows [Abstract]
Net Income (Loss) Attributable to Parent	$ 27,518	$ 20,631
Non-cash items included in net income:
Depreciation and amortization of furniture, equipment and leasehold improvements	5,575	4,999
Deferred income taxes	422	1,616
Amortization of notes receivable	9,679	9,480
Amortization of debt issuance costs	187	194
Write off of Deferred Debt Issuance Cost	184	0
Provision for credit losses	55	90
Share-based compensation	11,858	11,088
Amortization	19,141	0
Decrease (increase) in operating assets:
Deposits with clearing organizations	6,052	11,734
Receivable from brokers, dealers and clearing organizations	8,759	(17,916)
Receivable from customers	(34,205)	50,385
Income tax receivable	(1,319)	(556)
Securities purchased under agreements to resell	290	(844)
Securities owned	184,390	31,346
Notes receivable	(9,541)	(12,238)
Other assets	(11,980)	24,465
Increase (decrease) in operating liabilities:
Drafts payable	1,446	(13,170)
Payable to brokers, dealers and clearing organizations	75,388	7,960
Payable to customers	(23,560)	(34,157)
Securities sold under agreements to repurchase	(230,498)	19,532
Securities sold but not yet purchased	36,434	49,260
Accrued compensation	(23,273)	(27,899)
Accounts payable and other liabilities	(18,001)	5,747
Cash provided by operating activities	22,897	118,279
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements	(8,672)	(6,654)
Purchase of tangible assets	0	(400)
Proceeds from Insurance Settlement, Investing Activities	1,720	284
Cash used in investing activities	(6,952)	(6,770)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	(4,408)	(4,373)
Proceeds from Issuance of Common Stock	83	70
Repurchase of Class A non-voting common stock for cancellation	(8,400)	0
Payments for employee taxes withheld related to vested share-based awards	(1,014)	(2,529)
Repayments of Secured Debt	50,000	0
Payment for Debt Extinguishment or Debt Prepayment Cost	(1,688)	0
Decrease in bank call loans, net	(15,000)	(115,300)
Cash used in financing activities	(80,427)	(122,132)
Net decrease in cash and cash equivalents	(64,482)	(10,623)
Cash and cash equivalents, beginning of period	90,675	48,154
Cash and cash equivalents, end of period	26,193	37,531
Schedule of non-cash financing activities
Employee share plan issuance	1,484	724
Supplemental disclosure of cash flow information
Interest Paid, Excluding Capitalized Interest, Operating Activities	37,710	36,500
Cash paid during the period for income taxes, net	$ 13,506	$ 7,757

Organization

Organization	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Oppenheimer Holdings Inc. ("OPY" or the "Parent") is incorporated under the laws of the State of Delaware. The condensed consolidated financial statements include the accounts of OPY and its consolidated subsidiaries (together, the "Company" or "we"). The Company engages in a broad range of activities in the financial services industry, including retail securities brokerage, institutional sales and trading, market-making, research, investment banking (both corporate and public finance), investment advisory and asset management services and trust services. The Company has 94 retail branch offices in the United States and has institutional businesses located in London, Tel Aviv, and Hong Kong. The principal subsidiaries of OPY are Oppenheimer & Co. Inc. ("Oppenheimer"), a registered broker-dealer in securities and investment adviser under the Investment Advisers Act of 1940; Oppenheimer Asset Management Inc. ("OAM") and its wholly-owned subsidiary, Oppenheimer Investment Management LLC, both registered investment advisers under the Investment Advisers 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; 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, Germany and Switzerland, which provides institutional equities and fixed income brokerage and corporate finance and is regulated by the Financial Conduct Authority; Oppenheimer Investments Asia Limited, based in Hong Kong, China, which provides fixed income and equities brokerage services to institutional investors and is regulated by the Securities and Futures Commission; and Oppenheimer Multifamily Housing & Healthcare Finance, Inc. ("OMHHF"), which was formerly engaged in Federal Housing Administration ("FHA")-insured commercial mortgage origination and servicing. During 2016, the Company sold substantially all of the assets of OMHHF and ceased its operations. 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. Oppenheimer holds a trading permit on the New York Stock Exchange and is a member of several other regional exchanges in the United States.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
New accounting pronouncements	Basis of Presentation The accompanying condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America ("U.S. GAAP") for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 (the "Form 10-K"). The accompanying condensed consolidated balance sheet data was derived from the audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the financial statements and the accompanying disclosures. Although these estimates are based on management's knowledge of current events and actions that the Company may undertake in the future, actual results may differ materially from the estimates. The condensed consolidated results of operations for the nine month period ended September 30, 2019 are not necessarily indicative of the results to be expected for any future interim or annual period. Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, "Measurement of Credit Losses on Financial Instruments," which amends the FASB's guidance on the impairment of financial instruments. The ASU adds to U.S. GAAP an impairment model ("current expected credit loss model"). Under this new guidance, an entity recognizes as an allowance its estimate of expected credit losses. The ASU is effective for fiscal years beginning after December 15, 2019. The Company has performed a preliminary analysis and determined which areas are in and out of scope and which areas that it can apply the practical expedient. The Company is currently assessing the impact of applying the CECL model to areas such as defaulted note receivables and investment banking related receivables accounts. The Company has also determined that it will utilize the practical expedient to areas such as securities borrowed, reverse repurchase agreements, margin lending, and other collateralized transactions due to the continued marking of the underlying collateral. As a result, the Company does not expect the adoption of this ASU to have a material impact on its condensed consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other, Simplifying the Test for Goodwill Impairment," which simplifies the subsequent measurement of goodwill. The Company is no longer required to perform its Step 2 goodwill impairment test; instead, the Company should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The ASU is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company will not early adopt this ASU. The Company is currently evaluating the impact, if any, of the ASU on the Company; the adoption of the ASU is not currently expected to have a material impact on its condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement - Disclosure Framework - Changes to the Disclosure Requirements for the Fair Value Measurement," which modifies the disclosure requirements related to fair value measurement. The ASU is effective for fiscal years and interim periods beginning after December 15, 2019 and early adoption is permitted. The Company will not early adopt this ASU. The Company is currently evaluating the impact, if any, of the ASU on the Company's disclosure.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases In the first quarter of 2019, the Company adopted ASU 2016-02, "Leases". The ASU requires the recognition of a right-of use asset and lease liability on the consolidated balance sheet by lessees for those leases classified as operating leases under previous guidance. The Company elected the modified retrospective method which did not result in a cumulative-effect adjustment at the date of adoption. The Company and its subsidiaries have operating leases for office space and equipment expiring at various dates through 2034 . The Company leases its corporate headquarters at 85 Broad Street, New York, New York which houses its executive management team and many administrative functions for the firm as well as its research, trading, investment banking, and asset management divisions and an office in Troy, Michigan, which among other things, houses its payroll and human resources departments. In addition, the Company has 94 retail branch offices in the United States as well as offices in London, England, St. Helier, Jersey, Geneva, Switzerland, Frankfurt, Germany, Tel Aviv, Israel and Hong Kong, China. The majority of the leases are held by the Company's subsidiary, Viner Finance Inc., which is a consolidated subsidiary and 100% owned by the Company. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Most leases include an option to renew and the exercise of lease renewal options is at our sole discretion. The Company did not include the renewal options as part of the right of use assets and liabilities. The depreciable life of assets and leasehold improvements is limited by the expected lease term. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of September 30, 2019 , the Company had right of use operating lease assets of $164.9 million (net of accumulated amortization of $19.1 million ) which are comprised of real estate leases of $161.7 million (net of accumulated amortization of $17.7 million ) and equipment leases of $3.2 million (net of accumulated amortization of $1.4 million ). As of September 30, 2019 , the Company had operating lease liabilities of $208.7 million which are comprised of real estate lease liabilities of $205.5 million and equipment lease liabilities of $3.2 million . As of September 30, 2019 , the Company had not made any cash payments for amounts included in the measurement of operating lease liabilities or right of use assets obtained in exchange for operating lease obligations. The Company had no finance leases or embedded leases as of September 30, 2019 . As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company used the incremental borrowing rate on January 1, 2019 for operating leases that commenced prior to that date. The Company used the incremental borrowing rate as of the lease commencement date for the operating leases commenced subsequent to January 1, 2019. The following table presents the weighted average lease term and weighted average discount rate for our operating leases as of September 30, 2019 : As of September 30, 2019 Weighted average remaining lease term (in years) 8.45 Weighted average discount rate 7.91% The following table presents operating lease costs recognized for the three and nine months ended September 30, 2019 which are included in occupancy and equipment costs on the condensed consolidated income statement: (Expressed in thousands) For the Three Months Ended For the Nine Months Ended September 30, 2019 Operating lease costs: Real estate leases - Right-of-use lease asset amortization $ 5,696 $ 17,740 Real estate leases - Interest expense 4,145 11,792 Equipment leases - Right-of-use lease asset amortization 462 1,401 Equipment leases - Interest expense 57 171 The maturities of lease liabilities as of September 30, 2019 are as follows: (Expressed in thousands) As of September 30, 2019 2019 $ 11,076 2020 42,127 2021 37,087 2022 33,149 2023 31,004 After 2024 135,147 Total lease payments $ 289,590 Less interest (80,842 ) Present value of lease liabilities $ 208,748 As of September 30, 2019 , the Company had no additional operating leases that have not yet commenced. In November 2016, the SEC issued a no action letter related to the treatment of operating leases under SEC Rule 15c3-1 (the “Rule”) in the context of the adoption of ASU 2016-2, “Leases” which provided relief, if certain conditions are met, to broker-dealers in the net capital treatment of operating lease assets which would otherwise be treated as a non-allowable asset. The application of this guidance resulted in no additional charges to net capital for operating leases during the three and nine months ended September 30, 2019 .

Revenues from contracts with cu

Revenues from contracts with customers	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenues from contracts with customers	Revenue from contracts with customers Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by transferring the promised goods or services to customers. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation satisfied over time is recognized by measuring the Company's progress in satisfying the performance obligation in a manner that depicts the transfer of the goods or services to the customer. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised good or service. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for those promised goods or services (i.e., the "transaction price"). In determining the transaction price, the Company considers multiple factors, including the effects of variable consideration. Variable consideration is included in the transaction price only to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainties with respect to the amount are resolved. In determining when to include variable consideration in the transaction price, the Company considers the range of possible outcomes, the predictive value of its past experiences, the time period when uncertainties expect to be resolved and the amount of consideration that is susceptible to factors outside of the Company's influence, such as market volatility or the judgment and actions of third parties. The Company earns revenue from contracts with customers and other sources (principal transactions, interest and other). The following provides detailed information on the recognition of the Company's revenue from contracts with customers: Commissions Commissions from Sales and Trading — The Company earns commission revenue by executing, settling and clearing transactions with clients primarily in exchange-traded and over-the-counter corporate equity and debt securities, money market instruments and exchange-traded options and futures contracts. A substantial portion of Company's revenue is derived from commissions from private clients through accounts with transaction-based pricing. Trade execution and clearing services, when provided together, represent a single performance obligation as the services are not separately identifiable in the context of the contract. Commission revenue associated with combined trade execution and clearing services, as well as trade execution services on a standalone basis, is recognized at a point in time on trade date when the performance obligation is satisfied. Commission revenue is generally paid on settlement date, which is generally two business days after trade date for equity securities and corporate bond transactions and one day for government securities, options, and commodities transactions. The Company records a receivable on the trade date and receives a payment on the settlement date. Mutual Fund Income — The Company earns mutual fund income for sales and distribution of mutual fund shares. Many mutual fund companies pay distribution fees to intermediaries, such as broker-dealers, for selling their shares. The fees are operational expenses of the mutual fund and are included in its expense ratio. The Company recognizes mutual fund income at a point in time on trade date when the performance obligation is satisfied which is when the mutual fund interest is sold to the investor. Mutual fund income is generally received within 90 days. Advisory Fees The Company earns management and performance (or incentive) fees in connection with the advisory and asset management services it provides to various types of funds and investment vehicles through its subsidiaries. Management fees are generally based on the account value at the valuation date per the respective asset management agreements and are recognized over time as the customer receives the benefits of the services evenly throughout the term of the contract. Performance fees are recognized when the return on client AUM exceeds a specified benchmark return or other performance targets over a 12-month measurement period. Performance fees are considered variable as they are subject to fluctuation and/or are contingent on a future event over the measurement period and are not subject to adjustment once the measurement period ends. Such fees are computed as of 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. Both management and performance fees are generally received within 90 days. Investment Banking The Company earns underwriting revenues by providing capital raising solutions for corporate clients through initial public offerings, follow-on offerings, equity-linked offerings, private investments in public entities, and private placements. Underwriting revenues are recognized at a point in time on trade date, as the client obtains the control and benefit of the capital markets offering at that point. These fees are generally received within 90 days after the transactions are completed. 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 and related expenses are presented gross on the condensed consolidated income statements. Revenue from financial advisory services includes fees generated in connection with mergers, acquisitions and restructuring transactions and such revenue and fees are primarily recorded at a point in time when services for the transactions are completed and income is reasonably determinable, generally as set forth under the terms of the engagement. Payment for advisory services is generally due upon a completion of the transaction or milestone. Retainer fees and fees earned from certain advisory services are recognized ratably over the service period as the customers receive the benefit of the services throughout the term of the contracts, and such fees are collected based on the terms of the contracts. Bank Deposit Sweep Income Bank deposit sweep income consists of revenue earned from the FDIC-insured bank deposit program. Under this program, client funds are swept into deposit accounts at participating banks and are eligible for FDIC deposit insurance up to FDIC standard maximum deposit insurance amounts. Fees are earned over time and are generally received within 30 days. Disaggregation of Revenue The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the three months ended September 30, 2019 and 2018: (Expressed in thousands) For the Three Months Ended September 30, 2019 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 35,994 $ — $ 32,569 $ 9 $ 68,572 Mutual fund income 10,050 — 1 4 10,055 Advisory fees 62,510 18,366 2 9 80,887 Investment banking - capital markets 2,557 — 8,773 — 11,330 Investment banking - advisory — — 10,468 — 10,468 Bank deposit sweep income 28,894 — — — 28,894 Other 3,296 2 448 576 4,322 Total revenue from contracts with customers 143,301 18,368 52,261 598 214,528 Other sources of revenue: Interest 8,652 — 3,272 420 12,344 Principal transactions, net 70 — 8,515 (979 ) 7,606 Other 31 — 20 264 315 Total other sources of revenue 8,753 — 11,807 (295 ) 20,265 Total revenue $ 152,054 $ 18,368 $ 64,068 $ 303 $ 234,793 (Expressed in thousands) For the Three Months Ended September 30, 2018 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 36,553 $ — $ 31,807 $ 10 $ 68,370 Mutual fund income 11,059 240 4 5 11,308 Advisory fees 60,516 17,627 3 8 78,154 Investment banking - capital markets 2,733 — 15,806 — 18,539 Investment banking - advisory — — 9,789 — 9,789 Bank deposit sweep income 30,053 — — — 30,053 Other 3,654 3 318 40 4,015 Total revenue from contracts with customers 144,568 17,870 57,727 63 220,228 Other sources of revenue: Interest 9,469 — 3,678 256 13,403 Principal transactions, net 675 — 6,423 (7,114 ) (16 ) Other 3,371 — 302 526 4,199 Total other sources of revenue 13,515 — 10,403 (6,332 ) 17,586 Total revenue $ 158,083 $ 17,870 $ 68,130 $ (6,269 ) $ 237,814 The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the nine months ended September 30, 2019 and 2018: (Expressed in thousands) For the Nine Months Ended September 30, 2019 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 110,496 $ — $ 98,621 $ 16 $ 209,133 Mutual fund income 29,788 (5 ) 3 13 29,799 Advisory fees 181,634 53,572 9 26 235,241 Investment banking - capital markets 9,568 — 32,065 — 41,633 Investment banking - advisory — — 40,214 — 40,214 Bank deposit sweep income 94,692 — — — 94,692 Other 10,101 2 1,289 2,369 13,761 Total revenue from contracts with customers 436,279 53,569 172,201 2,424 664,473 Other sources of revenue: Interest 27,699 — 9,566 1,356 38,621 Principal transactions, net 2,292 — 24,984 (5,187 ) 22,089 Other 11,239 7 97 972 12,315 Total other sources of revenue 41,230 7 34,647 (2,859 ) 73,025 Total revenue $ 477,509 $ 53,576 $ 206,848 $ (435 ) $ 737,498 (Expressed in thousands) For the Nine Months Ended September 30, 2018 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 115,924 $ — $ 96,826 $ 87 $ 212,837 Mutual fund income 32,327 745 11 15 33,098 Advisory fees 180,426 52,465 57 24 232,972 Investment banking - capital markets 10,572 — 46,398 — 56,970 Investment banking - advisory — — 27,472 — 27,472 Bank deposit sweep income 84,203 — — — 84,203 Other 11,359 9 750 (6 ) 12,112 Total revenue from contracts with customers 434,811 53,219 171,514 120 659,664 Other sources of revenue: Interest 27,820 1 10,146 719 38,686 Principal transactions, net 807 — 15,804 (7,501 ) 9,110 Other 5,292 — 401 1,747 7,440 Total other sources of revenue 33,919 1 26,351 (5,035 ) 55,236 Total revenue $ 468,730 $ 53,220 $ 197,865 $ (4,915 ) $ 714,900 Contract Balances The timing of the Company's revenue recognition may differ from the timing of payment by its customers. The Company records receivables when revenue is recognized prior to payment and it has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied. The Company had receivables related to revenue from contracts with customers of $25.2 million and $23.7 million at September 30, 2019 and January 1, 2019, respectively. The Company had no significant impairments related to these receivables during the three and nine months ended September 30, 2019 . Deferred revenue relates to IRA fees received annually in advance on customers' IRA accounts managed by the Company and the retainer fees and fees earned from certain advisory transactions where the performance obligations have not yet been satisfied. Total deferred revenue was $1.7 million and $318,000 at September 30, 2019 and January 1, 2019, respectively. The following presents the Company's contract assets and deferred revenue balances from contracts with customers, which are included in other assets and other liabilities, respectively, on the condensed consolidated balance sheet: (Expressed in thousands) Ending Balance at September 30, 2019 Opening Balance at January 1, 2019 Contract assets (receivables): Commission (1) $ 3,295 $ 3,738 Mutual fund income (2) 6,836 7,241 Advisory fees (3) 1,013 1,214 Bank deposit sweep income (4) 3,911 4,622 Investment banking fees (5) 7,688 3,996 Other 2,452 2,869 Total contract assets $ 25,195 $ 23,680 Deferred revenue (payables): Investment banking fees (6) $ 1,055 $ 318 IRA fees (7) 667 — Total deferred revenue $ 1,722 $ 318 (1) Commission recorded on trade date but not yet settled. (2) Mutual fund income earned but not yet received. (3) Management and performance fees earned but not yet received. (4) Fees earned from FDIC-insured bank deposit program but not yet received. (5) Underwriting revenue and advisory fees earned but not yet received. (6) Retainer fees and fees earned from certain advisory transactions where the performance obligations have not yet been satisfied. (7) Fee received in advance on an annual basis.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per share Basic earnings per share is computed by dividing net income attributable to Oppenheimer Holdings Inc. by the weighted average number of shares of Class A non-voting common stock ("Class A Stock") and Class B voting common stock ("Class B Stock") outstanding. Diluted earnings per share includes the weighted average number of shares of Class A Stock and Class B Stock outstanding and options to purchase Class A Stock and unvested restricted stock awards of Class A Stock using the treasury stock method. Earnings per share have been calculated as follows: (Expressed in thousands, except number of shares and per share amounts) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Basic weighted average number of shares outstanding 12,825,944 13,269,024 12,940,129 13,252,596 Net dilutive effect of share-based awards, treasury method (1) 1,007,050 871,239 906,010 790,730 Diluted weighted average number of shares outstanding 13,832,994 14,140,263 13,846,139 14,043,326 Net income $ 3,949 $ 5,071 $ 27,518 $ 20,631 Net income per share Basic $ 0.31 $ 0.38 $ 2.13 $ 1.56 Diluted $ 0.29 $ 0.36 $ 1.99 $ 1.47 (1) For both the three and nine months ended September 30, 2019 , the diluted net income per share computation does not include the anti-dilutive effect of 7,628 shares of Class A Stock granted under share-based compensation arrangements ( 4,050 shares for both the three and nine months ended September 30, 2018).

Receivable From and Payable to

Receivable From and Payable to Brokers, Dealers and Clearing Organizations	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019 December 31, 2018 Receivable from brokers, dealers and clearing organizations consists of: Securities borrowed $ 103,738 $ 108,144 Receivable from brokers 13,839 20,140 Securities failed to deliver 13,362 7,021 Clearing organizations 24,775 28,777 Other 2,020 2,411 Total $ 157,734 $ 166,493 Payable to brokers, dealers and clearing organizations consists of: Securities loaned $ 209,298 $ 146,815 Payable to brokers 7,040 158 Securities failed to receive 13,228 27,799 Other 135,029 114,435 Total $ 364,595 $ 289,207

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements 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. 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. 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. 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. Corporate Debt and Other Obligations The fair value of corporate bonds is estimated using recent transactions, broker quotations and bond spread information. Mortgage and Other Asset-Backed Securities The Company values non-agency securities collateralized by home equity and various other types of collateral based on external pricing and spread data provided by independent pricing services. When specific external pricing is not observable, the valuation is based on yields and spreads for comparable bonds. Municipal Obligations The fair value of municipal obligations is estimated using recently executed transactions, broker quotations, and bond spread information. 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. Corporate Equities Equity securities and options are generally valued based on quoted prices from the exchange or market where traded. To the extent quoted prices are not available, fair values are generally derived using bid/ask spreads. Auction Rate Securities ("ARS") Background 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 (the "Regulators") concluding 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. Over the last nine years, the Company has bought back $140.2 million of ARS pursuant to these settlements. These buybacks coupled with ARS issuer redemptions and tender offers have significantly reduced the level of ARS held by Eligible Investors. As of September 30, 2019 , the Company had $3.4 million of ARS to purchase from Eligible Investors related to the settlements with the Regulators. 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. Over the last nine years, the Company has purchased $102.3 million of ARS pursuant to these legal settlements and awards. As of September 30, 2019 , the Company had one remaining commitment to purchase $3.6 million in ARS by June 30, 2020 . As of September 30, 2019 , the Company owned $29.4 million of ARS. This amount represents the unredeemed or unsold amount that the Company holds as a result of ARS buybacks pursuant to the settlements with the Regulators and legal settlements and awards referred to above. Valuation The Company’s ARS owned and ARS purchase commitments referred to above have, for the most part, been subject to recent issuer tender offers. As a result, the Company has valued the ARS securities owned and the ARS purchase commitments at the observable tender offer price which provides the basis to categorize them in Level 2 of the fair value hierarchy. The ARS purchase commitments related to the settlements with the Regulators and legal settlements and awards are considered derivative assets or liabilities. The ARS purchase commitments represent the difference between the principal value and the fair value of the ARS the Company is committed to purchase. As of September 30, 2019 , the Company had a valuation adjustment (unrealized loss) totaling $5.1 million which consists of $4.1 million for ARS owned (which is included as a reduction to securities owned on the condensed consolidated balance sheet) and $1.0 million for ARS purchase commitments from legal settlements and awards and settlements with regulators (which is included in accounts payable and other liabilities on the condensed consolidated balance sheet). 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. The following table provides information about the Company's investments in Company-sponsored funds as of September 30, 2019 : (Expressed in thousands) Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period Hedge funds (1) $ 1,577 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 4,335 1,399 N/A N/A $ 5,912 $ 1,399 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. (2) Includes private equity funds and private equity fund of funds with a focus on diversified portfolios, real estate and global natural resources. Valuation Process The Company's Finance & Accounting ("F&A") group is responsible for the Company's fair value policies, processes and procedures. F&A is independent from the business units and trading desks and is headed by the Company's Chief Financial Officer ("CFO"), who has final authority over the valuation of the Company's financial instruments. The Finance Control Group ("FCG") within F&A is responsible for daily profit and loss reporting, front-end trading system position reconciliations, monthly profit and loss reporting, and independent price verification procedures. For financial instruments categorized in Levels 1 and 2 of the fair value hierarchy, the FCG performs a monthly independent price verification to determine the reasonableness of the prices provided by the Company's independent pricing vendor. The FCG uses its third-party pricing vendor, executed transactions, and broker-dealer quotes for validating the fair values of financial instruments. Assets and Liabilities Measured at Fair Value The Company's assets and liabilities, recorded at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 , have been categorized based upon the above fair value hierarchy as follows: Assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 (Expressed in thousands) Fair Value Measurements as of September 30, 2019 Level 1 Level 2 Level 3 Total Assets Deposits with clearing organizations $ 36,461 $ — $ — $ 36,461 Securities owned: U.S. Treasury securities 462,298 — — 462,298 U.S. Agency securities 1,605 7,135 — 8,740 Sovereign obligations — 2,571 — 2,571 Corporate debt and other obligations — 24,448 — 24,448 Mortgage and other asset-backed securities — 2,292 — 2,292 Municipal obligations — 66,550 — 66,550 Convertible bonds — 28,796 — 28,796 Corporate equities 31,822 — — 31,822 Money markets 363 — — 363 Auction rate securities — 25,314 — 25,314 Securities owned, at fair value 496,088 157,106 — 653,194 Derivative contracts: TBAs — 12 — 12 Total $ 532,549 $ 157,118 $ — $ 689,667 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 74,020 $ — $ — $ 74,020 U.S. Agency securities — 7 — 7 Sovereign obligations — 2,503 — 2,503 Corporate debt and other obligations — 11,683 — 11,683 Mortgage and other asset-backed securities — 1 — 1 Convertible bonds — 16,216 — 16,216 Corporate equities 17,450 — — 17,450 Securities sold but not yet purchased, at fair value 91,470 30,410 — 121,880 Derivative contracts: Futures 322 — — 322 TBAs — 9 — 9 ARS purchase commitments — 1,006 — 1,006 Derivative contracts, total 322 1,015 — 1,337 Total $ 91,792 $ 31,425 $ — $ 123,217 (1) Included in other assets on the condensed consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 (Expressed in thousands) Fair Value Measurements as of December 31, 2018 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 10,500 $ — $ — $ 10,500 Deposits with clearing organizations 34,599 — — 34,599 Securities owned: U.S. Treasury securities 657,208 — — 657,208 U.S. Agency securities 812 6,494 — 7,306 Sovereign obligations — 214 — 214 Corporate debt and other obligations — 20,665 — 20,665 Mortgage and other asset-backed securities — 2,486 — 2,486 Municipal obligations — 52,261 — 52,261 Convertible bonds — 31,270 — 31,270 Corporate equities 28,215 — — 28,215 Money markets 7 — — 7 Auction rate securities — 16,253 21,699 37,952 Securities owned, at fair value 686,242 129,643 21,699 837,584 Investments (1) — — 101 101 Derivative contracts: TBAs — 4,873 — 4,873 Total $ 731,341 $ 134,516 $ 21,800 $ 887,657 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 53,646 $ — $ — $ 53,646 U.S. Agency securities — 3 — 3 Sovereign obligations — 78 — 78 Corporate debt and other obligations — 7,236 — 7,236 Convertible bonds — 9,709 — 9,709 Corporate equities 14,774 — — 14,774 Securities sold but not yet purchased, at fair value 68,420 17,026 — 85,446 Derivative contracts: Futures 807 — — 807 Foreign exchange forward contracts 4 — — 4 TBAs — 4,873 — 4,873 ARS purchase commitments — 1,096 — 1,096 Derivative contracts, total 811 5,969 — 6,780 Total $ 69,231 $ 22,995 $ — $ 92,226 (1) Included in other assets on the condensed consolidated balance sheet. For the three months ended September 30, 2019, there were no balances or changes in Level 3 assets and liabilities. The following table presents changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three months ended September 30, 2018 : (Expressed in thousands) Level 3 Assets and Liabilities For the Three Months Ended September 30, 2018 Beginning Balance Total Realized and Unrealized Losses (3)(4) Purchases and Issuances Sales and Settlements Transfers In/Out Ending Balance Assets Auction rate securities (1)(5) $ 72,621 $ (2,163 ) $ 2,150 $ (34,925 ) $ (16,253 ) $ 21,430 Investments 164 — — — (60 ) 104 Liabilities ARS purchase commitments (2)(5) 131 (948 ) — — 1,078 1 (1) Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market. (2) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (3) Included in principal transactions in the condensed consolidated statement of income, except for losses from investments which are included in other income in the condensed consolidated statement of income. (4) Unrealized losses are attributable to assets or liabilities that are still held at the reporting date. (5) Represents transfers from Level 3 to Level 2 of the fair value hierarchy. Transfers were due to tender offers by issuers of ARS. The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the nine months ended September 30, 2019 and 2018 : (Expressed in thousands) Level 3 Assets and Liabilities For the Nine Months Ended September 30, 2019 Beginning Balance Total Realized and Unrealized Gains (2)(3) Purchases and Issuances Sales and Settlements Transfers Out Ending Balance Assets Auction rate securities (1) $ 21,699 $ 1 $ — $ (350 ) $ (21,350 ) $ — Investments 101 5 — — (106 ) — (1) Represents auction rate preferred securities that failed in the auction rate market. (2) Included in principal transactions in the condensed consolidated statement of income, except for gains from investments which are included in other income in the condensed consolidated statement of income. (3) Unrealized gains are attributable to assets or liabilities that are still held at the reporting date. (Expressed in thousands) Level 3 Assets and Liabilities For the Nine Months Ended September 30, 2018 Beginning Balance Total Realized and Unrealized Gains (Losses) (3)(4) Purchases and Issuances Sales and Settlements Transfers In/Out Ending Balance Assets Municipal obligations $ 35 $ 14 $ 76 $ (125 ) $ — $ — Auction rate securities (1) (5) 87,398 (2,218 ) 6,250 (36,145 ) (33,855 ) 21,430 Investments 169 (5 ) — — (60 ) 104 Liabilities ARS purchase commitments (2) (5) 8 (1,162 ) — — 1,169 1 (1) Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market. (2) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (3) Included in principal transactions in the condensed consolidated statement of income, except for gains (losses) from investments which are included in other income in the condensed consolidated statement of income. (4) Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date. (5) Represents transfers from Level 3 to Level 2 of the fair value hierarchy. Transfers were due to tender offers by issuers of ARS. 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 on the condensed consolidated balance sheets. The table below excludes non-financial assets and liabilities (e.g., right-of-use lease assets, lease liabilities, furniture, equipment and leasehold improvements 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 approximates fair value because of the relatively short-term nature of the underlying assets. The fair value of the Company's 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. Assets and liabilities not measured at fair value as of September 30, 2019 (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash $ 26,193 $ 26,193 $ — $ — $ 26,193 Deposits with clearing organization 37,269 37,269 — — 37,269 Receivable from brokers, dealers and clearing organizations: Securities borrowed 103,738 — 103,738 — 103,738 Receivables from brokers 13,839 — 13,839 — 13,839 Securities failed to deliver 13,362 — 13,362 — 13,362 Clearing organizations 24,775 — 24,775 — 24,775 Other 2,017 — 2,017 — 2,017 157,731 — 157,731 — 157,731 Receivable from customers 754,927 — 754,927 — 754,927 Notes receivable, net 43,920 — 43,920 — 43,920 Investments (1) 68,919 — 68,919 — 68,919 (1) Included in other assets on the condensed consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Drafts payable $ 17,794 $ 17,794 $ — $ — $ 17,794 Payables to brokers, dealers and clearing organizations: Securities loaned 209,298 — 209,298 — 209,298 Payable to brokers 7,040 — 7,040 — 7,040 Securities failed to receive 13,228 — 13,228 — 13,228 Other 134,707 — 134,707 — 134,707 364,273 — 364,273 — 364,273 Payables to customers 313,056 — 313,056 — 313,056 Securities sold under agreements to repurchase 253,720 — 253,720 — 253,720 Senior secured notes 150,000 — 154,907 — 154,907 Assets and liabilities not measured at fair value as of December 31, 2018 (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash $ 80,175 $ 80,175 $ — $ — $ 80,175 Deposits with clearing organization 33,079 33,079 — — 33,079 Receivable from brokers, dealers and clearing organizations: Securities borrowed 108,144 — 108,144 — 108,144 Receivables from brokers 20,140 — 20,140 — 20,140 Securities failed to deliver 7,021 — 7,021 — 7,021 Clearing organizations 28,777 — 28,777 — 28,777 Other 2,411 — 2,411 — 2,411 166,493 — 166,493 — 166,493 Receivable from customers 720,777 — 720,777 — 720,777 Securities purchased under agreements to resell 290 — 290 — 290 Notes receivable, net 44,058 — 44,058 — 44,058 Investments (1) 59,765 — 59,765 — 59,765 (1) Included in other assets on the condensed consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Drafts payable $ 16,348 $ 16,348 $ — $ — $ 16,348 Bank call loans 15,000 — 15,000 — 15,000 Payables to brokers, dealers and clearing organizations: Securities loaned 146,815 — 146,815 — 146,815 Payable to brokers 158 — 158 — 158 Securities failed to receive 27,799 — 27,799 — 27,799 Other 113,628 — 113,628 — 113,628 288,400 — 288,400 — 288,400 Payables to customers 336,616 — 336,616 — 336,616 Securities sold under agreements to repurchase 484,218 — 484,218 — 484,218 Senior secured notes 200,000 — 199,722 — 199,722 Fair Value Option The Company elected the fair value option for securities sold under agreements to repurchase ("repurchase agreements") and securities purchased under agreements to resell ("reverse repurchase agreements") that do not settle overnight or have an open settlement date. The Company has elected the fair value option for these instruments to reflect more accurately market and economic events in its earnings and to mitigate a potential mismatch in earnings caused by using different measurement attributes (i.e. fair value versus carrying value) for certain assets and liabilities. As of September 30, 2019 , the Company did not have any repurchase agreements and reverse repurchase agreements that do not settle overnight or have an open settlement date. Derivative Instruments and Hedging Activities The Company transacts, on a limited basis, in exchange traded and over-the-counter derivatives for both asset and liability management as well as for trading and investment purposes. Risks managed using derivative instruments include interest rate risk and, to a lesser extent, foreign exchange risk. All derivative instruments are measured at fair value and are recognized as either assets or liabilities on the condensed consolidated balance sheet. 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 Shekel ("NIS"). Such hedges have not been designated as accounting hedges. Unrealized gains and losses on foreign exchange forward contracts are recorded in other assets on the condensed consolidated balance sheet and other income in the condensed consolidated statement of income. 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 Company uses futures contracts, including U.S. Treasury notes, Federal Funds, General Collateral futures and Eurodollar contracts primarily as an economic hedge of interest rate risk associated with government trading activities. Unrealized gains and losses on futures contracts are recorded on the condensed consolidated balance sheet in payable to brokers, dealers and clearing organizations and in the condensed consolidated statement of income as principal transactions revenue, net. To-be-announced 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. Net unrealized gains and losses on TBAs are recorded on the condensed consolidated balance sheet in receivable from brokers, dealers and clearing organizations or payable to brokers, dealers and clearing organizations and in the condensed consolidated statement of income as principal transactions revenue, net. The notional amounts and fair values of the Company's derivatives as of September 30, 2019 and December 31, 2018 by product were as follows: (Expressed in thousands) Fair Value of Derivative Instruments as of September 30, 2019 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 15,742 $ 12 $ 15,742 $ 12 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 2,846,000 $ 322 Other contracts TBAs 12,240 9 ARS purchase commitments 7,010 1,006 $ 2,865,250 $ 1,337 (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. (Expressed in thousands) Fair Value of Derivative Instruments as of December 31, 2018 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 729,500 $ 4,873 $ 729,500 $ 4,873 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 4,580,800 $ 807 Other contracts Foreign exchange forward contracts 200 4 TBAs 729,500 4,873 ARS purchase commitments 7,305 1,096 $ 5,317,805 $ 6,780 (1) See "Derivative Instruments and Hedging Activities" above for a description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset. The following table presents the location and fair value amounts of the Company's derivative instruments and their effect in the condensed consolidated statements of income for the three and nine months ended September 30, 2019 and 2018 : (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended September 30, 2019 Recognized in Income on Derivatives (pre-tax) Types Description Location Net Gain (Loss) Commodity contracts Futures Principal transactions revenue $ (443 ) Other contracts Foreign exchange forward contracts Other revenue 5 TBAs Principal transactions revenue (9 ) ARS purchase commitments Principal transactions revenue (242 ) $ (689 ) (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended September 30, 2018 Recognized in Income on Derivatives (pre-tax) Types Description Location Net Gain (Loss) Commodity contracts Futures Principal transactions revenue $ 413 Other contracts Foreign exchange forward contracts Other revenue 2 TBAs Principal transactions revenue 73 Other TBAs Other revenue 62 ARS purchase commitments Principal transactions revenue (857 ) $ (307 ) (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Nine Months Ended September 30, 2019 Recognized in Income on Derivatives (pre-tax) Types Description Location Net Gain (Loss) Commodity contracts Futures Principal transactions revenue $ (3,109 ) Other contracts Foreign exchange forward contracts Other revenue 15 TBAs Principal transactions revenue (85 ) ARS purchase commitments Principal transactions revenue 90 $ (3,089 ) (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Nine Months Ended September 30, 2018 Recognized in Income on Derivatives (pre-tax) Types Description Location Net Gain (Loss) Commodity contracts Futures Principal transactions revenue $ 1,764 Other contracts Foreign exchange forward contracts Other revenue (3 ) TBAs Principal transactions revenue 269 Other TBAs Other revenue 209 ARS purchase commitments Principal transactions revenue (1,071 ) $ 1,168

Collateralized Transactions

Collateralized Transactions	9 Months Ended
	Sep. 30, 2019
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 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. As of September 30, 2019 , the Company's bank call loans outstanding balance was $ nil ( $15.0 million as of December 31, 2018). As of September 30, 2019 , the Company had approximately $995.0 million of customer securities under customer margin loans that are available to be pledged, of which the Company has re-pledged approximately $185.0 million under securities loan agreements. As of September 30, 2019 , the Company had pledged $259.9 million of customer securities directly with the Options Clearing Corporation to secure obligations and margin requirements under option contracts written by customers. As of September 30, 2019 , 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 U.S. 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 agreements and reverse repurchase agreements are presented on a net-by-counterparty basis, when the repurchase agreements 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 agreements and reverse repurchase agreements exist in "book entry" form and certain other requirements are met. The following table presents a disaggregation of the gross obligation by the class of collateral pledged and the remaining contractual maturity of the repurchase agreements and securities loaned transactions as of September 30, 2019 : (Expressed in thousands) Overnight and Open Repurchase agreements: U.S. Government and Agency securities $ 345,193 Securities loaned: Equity securities 209,298 Gross amount of recognized liabilities for repurchase agreements and securities loaned $ 554,491 The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of September 30, 2019 and December 31, 2018 : As of September 30, 2019 (Expressed in thousands) Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Assets Gross Amounts Offset on the Balance Sheet Net Amounts of Assets Presented on the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Reverse repurchase agreements $ 91,473 $ (91,473 ) $ — $ — $ — $ — Securities borrowed (1) 103,738 — 103,738 (100,188 ) — 3,550 Total $ 195,211 $ (91,473 ) $ 103,738 $ (100,188 ) $ — $ 3,550 (1) Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet. Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Amounts of Liabilities Presented on the Balance Sheet Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ 345,193 $ (91,473 ) $ 253,720 $ (252,401 ) $ — $ 1,319 Securities loaned (2) 209,298 — 209,298 (203,747 ) — 5,551 Total $ 554,491 $ (91,473 ) $ 463,018 $ (456,148 ) $ — $ 6,870 (2) Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet. As of December 31, 2018 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 82,429 $ (82,139 ) $ 290 $ — $ — $ 290 Securities borrowed (1) 108,144 — 108,144 (105,960 ) — 2,184 Total $ 190,573 $ (82,139 ) $ 108,434 $ (105,960 ) $ — $ 2,474 (1) Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet. Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Amounts of Liabilities Presented on the Balance Sheet Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ 566,357 $ (82,139 ) $ 484,218 $ (480,322 ) $ — $ 3,896 Securities loaned (2) 146,815 — 146,815 (139,232 ) — 7,583 Total $ 713,172 $ (82,139 ) $ 631,033 $ (619,554 ) $ — $ 11,479 (2) Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet. 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. As of September 30, 2019 , the Company did not have any repurchase agreements or reverse repurchase agreements that do not settle overnight or have an open settlement date. 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). As of September 30, 2019 , the fair value of securities received as collateral under securities borrowed transactions and reverse repurchase agreements was $100.8 million ( $104.9 million as of December 31, 2018 ) and $91.5 million ( $83.0 million as of December 31, 2018 ), respectively, of which the Company has sold and re-pledged approximately $17.3 million ( $27.6 million as of December 31, 2018 ) under securities loaned transactions and $91.5 million under repurchase agreements ( $83.0 million as of December 31, 2018 ). 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 $359.2 million , as presented on the face of the condensed consolidated balance sheet as of September 30, 2019 ( $518.0 million as of December 31, 2018 ). 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 $ nil as of September 30, 2019 ( $20.2 million as of December 31, 2018 ). 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 securities and the right to offset a counterparty's rights and obligations. The Company manages market risk of repurchase agreements and securities loaned by monitoring 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. 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 credit risk in the event customers, counterparties including other brokers and dealers, issuers, banks, depositories or clearing organizations are unable to fulfill their contractual obligations. The Company seeks to mitigate these risks by actively monitoring exposures and obtaining collateral as deemed appropriate. Included in receivable from brokers, dealers and clearing organizations as of September 30, 2019 were receivables from four major U.S. broker-dealers totaling approximately $72.8 million . 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 two 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, the Fixed Income Clearing Corporation ("FICC"), R.J. O'Brien & Associates (commodities transactions), Mortgage-Backed Securities Division (a division of FICC) and others. With respect to its business in reverse repurchase and repurchase agreements, substantially all open contracts as of September 30, 2019 were with the FICC . In addition, the Company clears its non-U.S. international equities business carried on by Oppenheimer Europe Ltd. through Global Prime Partners, Ltd. 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. As of September 30, 2019 , 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.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2019
Variable Interest Entity [Abstract]
Variable Interest Entities	Variable interest entities ("VIEs") The Company's policy is to consolidate all subsidiaries in which it has a controlling financial interest, as well as any VIEs where the Company is deemed to be the primary beneficiary, when it has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb significant losses or the right to receive benefits that could potentially be significant to the VIE. For funds that the Company has concluded are not VIEs, the Company then evaluates whether the fund is a partnership or similar entity. If the fund is a partnership or similar entity, the Company evaluates the fund under the partnership consolidation guidance. Pursuant to that guidance, the Company consolidates funds in which it is the general partner, unless presumption of control by the Company can be overcome. This presumption is overcome only when unrelated investors in the fund have the substantive ability to liquidate the fund or otherwise remove the Company as the general partner without cause, based on a simple majority vote of unaffiliated investors, or have other substantive participating rights. If the presumption of control can be overcome, the Company accounts for its interest in the fund pursuant to the equity method of accounting. 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 to the amount committed. 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 general and limited partner interests. 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 and limited partnership interests, additional capital commitments, and management fees receivable represent its maximum exposure to loss. The subsidiaries' general partnership and limited partnership interests and management fees receivable are included in other assets on the condensed consolidated balance sheet. The following tables set forth the total VIE assets, the carrying value of the subsidiaries' variable interests, and the Company's maximum exposure to loss in Company-sponsored non-consolidated VIEs in which the Company holds variable interests and other non-consolidated VIEs in which the Company holds variable interests as of September 30, 2019 and December 31, 2018 : (Expressed in thousands) As of September 30, 2019 Total VIE Assets (1) Carrying Value of the Capital Commitments Maximum Exposure to Loss in Non-consolidated VIEs Assets (2) Liabilities Hedge funds $ 354,675 $ 247 $ — $ — $ 247 Private equity funds 7,454 8 — — 8 Total $ 362,129 $ 255 $ — $ — $ 255 (1) Represents the total assets of the VIEs and does not represent the Company's interests in the VIEs. (2) Represents the Company's interest in the VIEs and is included in other assets on the condensed consolidated balance sheet. (Expressed in thousands) As of December 31, 2018 Total (1) Carrying Value of the Capital Maximum Assets (2) Liabilities Hedge funds $ 291,200 $ 337 $ — $ — $ 337 Private equity funds 7,454 8 — — 8 Total $ 298,654 $ 345 $ — $ — $ 345 (1) Represents the total assets of the VIEs and does not represent the Company's interests in the VIEs. (2) Represents the Company's interest in the VIEs and is included in other assets on the condensed consolidated balance sheet.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt (Expressed in thousands) Issued Maturity Date September 30, 2019 December 31, 2018 6.75% Senior Secured Notes 7/1/2022 $ 150,000 $ 200,000 Unamortized Debt Issuance Cost (533 ) (904 ) $ 149,467 $ 199,096 6.75% Senior Secured Notes On June 23, 2017 , the Parent issued in a private offering $200.0 million aggregate principal amount of 6.75% Senior Secured Notes due 2022 (the "Unregistered Notes") under an indenture at an issue price of 100% of the principal amount. On September 19, 2017, the Parent completed an exchange offer in which the Parent exchanged 99.8% of its Unregistered Notes for a like principal amount of notes with identical terms except that such new notes had been registered under the Securities Act of 1933, as amended (the "Notes"). The Parent did not receive any proceeds in the exchange offer. Interest on the Notes is payable semi-annually on January 1st and July 1st, beginning January 1, 2018. On June 23, 2017, the Parent used a portion of the net proceeds from the offering of the Unregistered Notes to redeem in full its 8.75% Senior Secured Notes due April 15, 2018 (the "Old Notes") in the principal amount of $120.0 million , and pay all fees and expenses related thereto. The cost to issue the Notes was $4.3 million , of which $3.0 million was paid to its subsidiary, Oppenheimer, who served as the initial purchaser of the offering, and was eliminated in consolidation. The Company capitalized the remaining $1.3 million and will amortize it over the term of the Notes. The indenture governing the Notes contains covenants that place restrictions on the incurrence of indebtedness, the payment of dividends, the repurchase of equity, the sale of assets, mergers and acquisitions and the granting of liens. Pursuant to the indenture governing the Notes, the Parent is restricted from paying any dividend or making any payment or distribution on account of its equity interests unless, among other things, (i) the dividend, payment or distribution (together with all other such dividends, payments or distributions made since July 1, 2017) is less than an amount calculated based in part on the Consolidated Adjusted Net Income (as defined in the indenture governing the Notes) of the Parent and its restricted and regulated subsidiaries since July 1, 2017, or (ii) the dividend, payment or distribution fits within one or more exceptions, including: • it is less than $20 million in any fiscal year; or • when combined with all other Restricted Payments (as defined in the indenture governing the Notes) that rely upon this exception, it does not exceed $10 million . The Notes provide for events of default including, among other things, nonpayment, breach of covenants and bankruptcy. The Parent's obligations under the Notes are guaranteed by certain of the Parent's subsidiaries and are secured by a first-priority security interest in substantially all of the assets of the Parent and the subsidiary's guarantors. These guarantees and the collateral may be shared, on a pari passu basis, under certain circumstances, with debt incurred. As of September 30, 2019 , the Parent was in compliance with all of its covenants. Interest expense for the three and nine months ended September 30, 2019 on the Notes was $3.0 million and $9.8 million , respectively ( $3.4 million and $10.1 million , respectively, for the three and nine months ended September 30, 2018 ). The Company redeemed $50.0 million ( 25% ) of its 6.75% Senior Secured Notes due 2022 ("Notes") on August 25, 2019 (the "Redemption Date") plus accrued and unpaid interest and incurred $1.9 million in costs associated with paying the associated Call Premium ( $1.7 million ) and the write-off of debt issuance costs ( $0.2 million ) during the third quarter of 2019. As of September 30, 2019, $150.0 million aggregate principal amount of the Notes remains outstanding. The redemption of 25% of the Notes will reduce the Company’s interest costs by $3.8 million annually.

Share Capital

Share Capital	9 Months Ended
	Sep. 30, 2019
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 Stock, par value $0.001 per share; and (c) 99,665 shares of Class B Stock, par value $0.001 per share. No Preferred Stock has been issued. 99,665 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: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Class A Stock outstanding, beginning of period 12,756,308 13,156,353 12,941,809 13,139,203 Issued pursuant to share-based compensation plans 19,052 21,578 80,143 38,728 Repurchased and canceled pursuant to the stock buy-back (76,657 ) — (323,249 ) — Class A Stock outstanding, end of period 12,698,703 13,177,931 12,698,703 13,177,931 Stock buy-back On July 26, 2019, the Company announced that its Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 640,000 shares of the Company's Class A Stock, representing approximately 5% of its 12,756,308 then issued and outstanding shares of Class A Stock. This authorization supplemented the 26,192 shares that remained authorized and available under the Company's previous share repurchase program for a total of 666,192 shares authorized and available for repurchase. During the three months ended September 30, 2019 , the Company purchased and canceled 76,657 shares of Class A Stock for a total consideration of $2.0 million ( $26.71 per share) under this program. During the nine months ended September 30, 2019, the Company purchased and canceled 323,249 shares of Class A Stock for a total consideration of $8.4 million ( $25.99 per share) under this program. As of September 30, 2019 , 589,535 shares remained available to be purchased under the new share repurchase program. Any such share purchases will be made by the Company from time to time in the open market at the prevailing open market price using cash on hand, in compliance with the applicable rules and regulations of the New York Stock Exchange and federal and state securities laws and the terms of the Company's Notes. All shares purchased will be canceled. The share repurchase program is expected to continue indefinitely. The timing and amounts of any purchases will be based on market conditions and other factors including price, regulatory requirements and capital availability. The share 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.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Loss Contingencies [Line Items]
Commitments and Contingencies Disclosure [Text Block]	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 and periodic expenses. 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 expenses, adverse judgments, settlements, fines, penalties, injunctions or other relief. The investigations include inquiries from the SEC, the Financial Industry Regulatory Authority ("FINRA") and various state regulators. 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 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 a 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. Counsel may be required to review, analyze and resolve numerous issues, 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 the Company can reasonably estimate a loss or range of loss or additional loss for the proceeding. Even after lengthy review and analysis, the Company, in many legal and regulatory proceedings, may not be able to reasonably estimate possible losses or range of loss. For certain other legal and regulatory proceedings, the Company can estimate possible losses, or range of loss in excess of amounts accrued, but does not believe, based on current knowledge and after consultation with counsel, that such losses individually, or in the aggregate, will have a material adverse effect on the Company's condensed consolidated financial statements as a whole. For legal and regulatory proceedings where there is at least a reasonable possibility that a loss or an additional loss may be incurred, the Company estimates a range of aggregate loss in excess of amounts accrued of $0 to $3.0 million . This estimated aggregate range is based upon currently available information for those legal proceedings in which the Company is involved, where the Company can make an estimate for such losses. For certain cases, the Company does not believe that it can make an estimate. The foregoing aggregate 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. As discussed in note 7 Fair value measurements, the Company reached settlements with the Regulators and various clients to repurchase ARS. Under the settlements with Regulators the Company has $3.4 million remaining of ARS to purchase from Eligible Investors at September 30, 2019. In addition, the Company has one remaining commitment to purchase $3.6 million in ARS from a client by June 30, 2020. Since September 2016, Oppenheimer has been responding to information requests from FINRA (including from FINRA's Enforcement Department) regarding the supervision of Oppenheimer's sale of unit investment trusts from 2011 to 2015. The inquiry is part of a larger targeted examination involving other brokerage firms. Oppenheimer is continuing to cooperate with the FINRA inquiry.

Regulatory Requirements

Regulatory Requirements	9 Months Ended
	Sep. 30, 2019
Regulated Operations [Abstract]
Regulatory Requirements	Regulatory requirements The Company's U.S. broker dealer subsidiaries, Oppenheimer and Freedom, are subject to the uniform net capital requirements of the SEC under Rule 15c3-1 (the "Rule") promulgated under the Securities Exchange Act of 1934. 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. As of September 30, 2019 , the net capital of Oppenheimer as calculated under the Rule was $230.8 million or 28.86% of Oppenheimer's aggregate debit items. This was $214.8 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 $100,000 or 6-2/3% of aggregate indebtedness, as defined. As of September 30, 2019 , Freedom had net capital of $5.1 million , which was $5.0 million in excess of the $100,000 required to be maintained at that date. As of September 30, 2019 , the capital required and held under the Capital Requirements Directive ("CRD IV") for Oppenheimer Europe Ltd. was as follows: • Common Equity Tier 1 ratio 14.56% (required 4.5% ); • Tier 1 Capital ratio 14.56% (required 6.0% ); and • Total Capital ratio 14.60% (required 8.0% ). In December 2017, Oppenheimer Europe Ltd. received approval from the Financial Conduct Authority ("FCA") for a variation of permission to remove the limitation of "matched principal business" from the firm's scope of permitted businesses and become a "Full-Scope Prudential Sourcebook for Investment Firms (IFPRU) €730K" firm which was effective January 2018. In addition to the capital requirement under CRD IV above, Oppenheimer Europe Ltd. is required to maintain a minimum capital of EUR 730,000 . As of September 30, 2019 , Oppenheimer Europe Ltd. was in compliance with its regulatory requirements. As of September 30, 2019 , the regulatory capital of Oppenheimer Investments Asia Limited was $783,448 , which was $400,748 in excess of the $382,700 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 of Hong Kong.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
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 assets under management ("AUM"), net interest earnings on client margin loans and cash balances, fees from money market funds, custodian fees, 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 manage client assets either in individual accounts or in funds, and includes direct expenses associated with this segment; and 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. 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 primarily include compensation and benefits. The table below presents information about the reported revenue and income (loss) before income taxes of the Company for the three and nine months ended September 30, 2019 and 2018 . 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 Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Revenue Private client (1) $ 152,054 $ 158,083 $ 477,509 $ 468,730 Asset management (1) 18,368 17,870 53,576 53,220 Capital markets 64,068 68,130 206,848 197,865 Corporate/Other 303 (6,269 ) (435 ) (4,915 ) Total $ 234,793 $ 237,814 $ 737,498 $ 714,900 Income (loss) before income taxes Private client (1) $ 35,251 $ 37,608 $ 121,501 $ 111,283 Asset management (1) 4,932 4,127 12,492 11,803 Capital markets (6,385 ) (2,076 ) (10,833 ) (8,332 ) Corporate/Other (27,302 ) (32,505 ) (83,221 ) (85,462 ) Total $ 6,496 $ 7,154 $ 39,939 $ 29,292 (1) Clients investing in the OAM advisory program are charged fees based on the value of AUM. Advisory fees are allocated 10.0% to the Asset Management and 90.0% to the Private Client segments. Revenue, classified by the major geographic areas in which it was earned, for the three and nine months ended September 30, 2019 and 2018 was as follows: (Expressed in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Americas $ 227,001 $ 230,486 $ 712,864 $ 690,569 Europe/Middle East 7,257 6,500 22,592 21,245 Asia 535 828 2,042 3,086 Total $ 234,793 $ 237,814 $ 737,498 $ 714,900

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent events On October 25, 2019 , the Company announced a quarterly dividend in the amount of $0.12 per share, payable on November 22, 2019 to holders of Class A Stock and Class B Stock of record on November 8, 2019 .

Supplemental Guarantor Consolid

Supplemental Guarantor Consolidated Financial Statements	9 Months Ended
	Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract]
Supplemental Guarantor Consolidated Financial Statements	Condensed consolidating financial information On June 23, 2017, the Parent issued in a private offering $200.0 million aggregate principal amount of the Notes. The Company used a portion of the net proceeds from the offering of the Unregistered Notes to redeem in full its Old Notes. See note 10 for further details. The 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 Parent. The indenture for the Notes contains covenants with restrictions which are discussed in note 10. The following condensed consolidating financial information presents the financial position, results of operations and cash flows of the Parent, the Guarantor subsidiaries, the Non-Guarantor subsidiaries and elimination entries necessary to consolidate the Company. 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 Parent 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 indenture 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 Parent of its legal defeasance option or covenant defeasance option or the discharge of the Parent's obligations under the indenture for the Notes in accordance with the terms of such indenture. OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2019 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 4,785 $ 534 $ 20,874 $ — $ 26,193 Deposits with clearing organizations — — 73,730 — 73,730 Receivable from brokers, dealers and clearing organizations — — 157,734 — 157,734 Receivable from customers, net of allowance for credit losses of $941 — — 754,927 — 754,927 Income tax receivable 49,333 15,488 — (62,488 ) 2,333 Securities owned, including amounts pledged of $359,151 at fair value — 1,327 651,867 — 653,194 Notes receivable, net of accumulated amortization and allowance for uncollectibles of $35,373 and $3,886, respectively — — 43,920 — 43,920 Furniture, equipment and leasehold improvements, net of accumulated depreciation of $92,690 — 23,097 8,988 — 32,085 Right-of-use lease assets, net of accumulated amortization of $19,141 — 158,793 6,106 — 164,899 Subordinated loan receivable — 112,558 — (112,558 ) — Intangible assets — 400 31,700 — 32,100 Goodwill — — 137,889 — 137,889 Other assets 154 12,612 122,649 (10,931 ) 124,484 Deferred tax assets 103 7,020 11,963 (19,086 ) — Investment in subsidiaries 692,030 761,924 24,628 (1,478,582 ) — Intercompany receivables — 46,325 14,092 (60,417 ) — Total assets $ 746,405 $ 1,140,078 $ 2,061,067 $ (1,744,062 ) $ 2,203,488 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Drafts payable $ — $ — $ 17,794 $ — $ 17,794 Bank call loans — — — — — Payable to brokers, dealers and clearing organizations — — 364,595 — 364,595 Payable to customers — — 313,056 — 313,056 Securities sold under agreements to repurchase — — 253,720 — 253,720 Securities sold but not yet purchased, at fair value — — 121,880 — 121,880 Accrued compensation — — 149,862 — 149,862 Income tax payable — 40 62,489 (62,529 ) — Accounts payable and other liabilities 2,584 90 51,500 (10,940 ) 43,234 Lease liabilities — 202,121 6,625 2 208,748 Senior secured notes, net of debt issuance cost of $533 149,467 — — — 149,467 Subordinated indebtedness — — 112,558 (112,558 ) — Deferred tax liabilities — — 33,546 (19,041 ) 14,505 Intercompany payables 27,727 — — (27,727 ) — Total liabilities 179,778 202,251 1,487,625 (232,793 ) 1,636,861 Stockholders' equity Total stockholders' equity 566,627 937,827 573,442 (1,511,269 ) 566,627 Total liabilities and stockholders' equity $ 746,405 $ 1,140,078 $ 2,061,067 $ (1,744,062 ) $ 2,203,488 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2018 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 53,525 $ 3,826 $ 33,324 $ — $ 90,675 Deposits with clearing organizations — — 67,678 — 67,678 Receivable from brokers, dealers and clearing organizations — — 166,493 — 166,493 Receivable from customers, net of allowance for credit losses of $886 — — 720,777 — 720,777 Income tax receivable 45,733 23,491 (702 ) (67,508 ) 1,014 Securities purchased under agreements to resell — — 290 — 290 Securities owned, including amounts pledged of $517,951 at fair value — 1,358 836,226 — 837,584 Notes receivable, net of accumulated amortization and allowance for uncollectibles of $25,109 and $6,800, respectively — — 44,058 — 44,058 Furniture, equipment and leasehold improvements, net of accumulated depreciation of $89,182 — 20,722 8,266 — 28,988 Subordinated loan receivable — 112,558 — (112,558 ) — Intangible assets — 400 31,700 — 32,100 Goodwill — — 137,889 — 137,889 Other assets 135 2,581 110,052 — 112,768 Deferred tax assets 1 455 18,494 (18,950 ) — Investment in subsidiaries 661,837 546,704 — (1,208,541 ) — Intercompany receivables (14,211 ) 46,840 (6,299 ) (26,330 ) — Total assets $ 747,020 $ 758,935 $ 2,168,246 $ (1,433,887 ) $ 2,240,314 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Drafts payable $ — $ — $ 16,348 $ — $ 16,348 Bank call loans — — 15,000 — 15,000 Payable to brokers, dealers and clearing organizations — — 289,207 — 289,207 Payable to customers — — 336,616 — 336,616 Securities sold under agreements to repurchase — — 484,218 — 484,218 Securities sold but not yet purchased, at fair value — — 85,446 — 85,446 Accrued compensation — — 167,348 — 167,348 Accounts payable and other liabilities 163 31,653 55,823 (9 ) 87,630 Income tax payable 2,440 22,189 42,878 (67,507 ) — Senior secured notes, net of debt issuance cost of $904 199,096 — — — 199,096 Subordinated indebtedness — — 112,558 (112,558 ) — Deferred tax liabilities — — 33,029 (18,946 ) 14,083 Intercompany payables — 26,334 — (26,334 ) — Total liabilities 201,699 80,176 1,638,471 (225,354 ) 1,694,992 Stockholders' equity Total stockholders' equity 545,322 678,759 529,774 (1,208,533 ) 545,322 Total liabilities and stockholders' equity $ 747,021 $ 758,935 $ 2,168,245 $ (1,433,887 ) $ 2,240,314 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING INCOME STATEMENT FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2019 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated REVENUES Commissions $ — $ — $ 78,627 $ — $ 78,627 Advisory fees — — 81,229 (342 ) 80,887 Investment banking — — 21,798 — 21,798 Bank deposit sweep income — — 28,894 — 28,894 Interest 59 2,059 12,299 (2,073 ) 12,344 Principal transactions, net — (34 ) 7,586 54 7,606 Other 3 — 4,635 (1 ) 4,637 Total revenue 62 2,025 235,068 (2,362 ) 234,793 EXPENSES Compensation and related expenses 273 — 151,012 (1 ) 151,284 Communications and technology 39 — 20,833 — 20,872 Occupancy and equipment costs — — 16,010 — 16,010 Clearing and exchange fees — (54 ) 5,469 54 5,469 Interest 3,038 — 10,566 (2,073 ) 11,531 Other 2,087 4 21,382 (342 ) 23,131 Total expenses 5,437 (50 ) 225,272 (2,362 ) 228,297 Income (loss) before income taxes (5,375 ) 2,075 9,796 — 6,496 Income taxes (1,364 ) 558 3,353 — 2,547 Net income (loss) (4,011 ) 1,517 6,443 — 3,949 Equity in earnings of subsidiaries 7,960 6,443 — (14,403 ) — Net income 3,949 7,960 6,443 (14,403 ) 3,949 Other comprehensive income — — 533 — 533 Total comprehensive income $ 3,949 $ 7,960 $ 6,976 $ (14,403 ) $ 4,482 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING INCOME STATEMENT FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018 (Expressed in thousands) Parent Guarantor Non-guarantor Eliminations Consolidated REVENUES Commissions $ — $ — $ 79,678 $ — $ 79,678 Advisory fees — — 78,490 (336 ) 78,154 Investment banking — — 28,328 — 28,328 Bank deposit sweep income — — 30,053 — 30,053 Interest 1 2,063 13,415 (2,076 ) 13,403 Principal transactions, net — — (19 ) 3 (16 ) Other — 154 8,213 (153 ) 8,214 Total revenue 1 2,217 238,158 (2,562 ) 237,814 EXPENSES Compensation and related expenses 343 — 152,503 — 152,846 Communications and technology 35 — 18,567 — 18,602 Occupancy and equipment costs — — 15,259 (153 ) 15,106 Clearing and exchange fees — — 5,378 — 5,378 Interest 3,375 — 11,616 (2,076 ) 12,915 Other 218 270 25,658 (333 ) 25,813 Total expenses 3,971 270 228,981 (2,562 ) 230,660 Income (loss) before income taxes (3,970 ) 1,947 9,177 — 7,154 Income taxes (976 ) 479 2,580 — 2,083 Net income (loss) (2,994 ) 1,468 6,597 — 5,071 Equity in earnings of subsidiaries 8,065 6,597 — (14,662 ) — Net income 5,071 8,065 6,597 (14,662 ) 5,071 Other comprehensive income — — 99 — 99 Total comprehensive income $ 5,071 $ 8,065 $ 6,696 $ (14,662 ) $ 5,170 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING INCOME STATEMENT FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated REVENUES Commissions $ — $ — $ 238,932 $ — $ 238,932 Advisory fees — — 236,278 (1,037 ) 235,241 Investment banking — — 81,847 — 81,847 Bank deposit sweep income — — 94,692 — 94,692 Interest 234 6,181 38,426 (6,220 ) 38,621 Principal transactions, net — 121 21,980 (12 ) 22,089 Other 3 2 26,070 1 26,076 Total revenue 237 6,304 738,225 (7,268 ) 737,498 EXPENSES Compensation and related expenses 1,098 — 466,330 (6 ) 467,422 Communications and technology 130 — 61,327 — 61,457 Occupancy and equipment costs — (1 ) 46,855 2 46,856 Clearing and exchange fees — — 16,479 — 16,479 Interest 9,788 — 34,141 (6,220 ) 37,709 Other 2,637 248 65,795 (1,044 ) 67,636 Total expenses 13,653 247 690,927 (7,268 ) 697,559 Income (loss) before income taxes (13,416 ) 6,057 47,298 — 39,939 Income taxes (3,702 ) 1,994 14,129 — 12,421 Net income (loss) (9,714 ) 4,063 33,169 — 27,518 Equity in earnings of subsidiaries 37,232 33,169 — (70,401 ) — Net income 27,518 37,232 33,169 (70,401 ) 27,518 Other comprehensive income — — 1,457 — 1,457 Total comprehensive income $ 27,518 $ 37,232 $ 34,626 $ (70,401 ) $ 28,975 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING INCOME STATEMENT FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated REVENUES Commissions $ — $ — $ 245,935 $ — $ 245,935 Advisory fees — — 233,953 (981 ) 232,972 Investment banking — — 84,442 — 84,442 Bank deposit sweep income — — 84,203 — 84,203 Interest 4 6,183 38,732 (6,233 ) 38,686 Principal transactions, net — — 9,149 (39 ) 9,110 Other — 345 19,549 (342 ) 19,552 Total revenue 4 6,528 715,963 (7,595 ) 714,900 EXPENSES Compensation and related expenses 1,191 — 456,630 — 457,821 Communications and technology 123 — 55,164 — 55,287 Occupancy and equipment costs — — 45,777 (342 ) 45,435 Clearing and exchange fees — — 17,254 — 17,254 Interest 10,125 — 28,895 (6,233 ) 32,787 Other 883 1,372 75,789 (1,020 ) 77,024 Total expenses 12,322 1,372 679,509 (7,595 ) 685,608 Income (loss) before income taxes (12,318 ) 5,156 36,454 — 29,292 Income taxes (3,081 ) 1,112 10,630 — 8,661 Net income (loss) (9,237 ) 4,044 25,824 — 20,631 Equity in earnings of subsidiaries 29,868 25,824 — (55,692 ) — Net income 20,631 29,868 25,824 (55,692 ) 20,631 Other comprehensive loss — — (880 ) — (880 ) Total comprehensive income $ 20,631 $ 29,868 $ 24,944 $ (55,692 ) $ 19,751 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated Cash flows from operating activities: Cash provided by (used in) operating activities $ 16,687 $ (3,292 ) $ 9,502 $ — $ 22,897 Cash flows from investing activities: Purchase of furniture, equipment and leasehold improvements — — (8,672 ) — (8,672 ) Proceeds from the settlement of Company-owned life insurance — — 1,720 — 1,720 Cash used in investing activities — — (6,952 ) — (6,952 ) Cash flows from financing activities: Cash dividends paid on Class A non-voting and Class B voting common stock (4,408 ) — — — (4,408 ) Issuance of Class A non-voting common stock 83 — — — 83 Repurchase of Class A non-voting common stock (8,400 ) — — — (8,400 ) Redemption of senior secured notes (50,000 ) — — — (50,000 ) Debt redemption costs (1,688 ) — — — (1,688 ) Payments for employee taxes withheld related to vested share-based awards (1,014 ) — — — (1,014 ) Decrease in bank call loans, net — — (15,000 ) — (15,000 ) Cash used in financing activities (65,427 ) — (15,000 ) — (80,427 ) Net increase (decrease) in cash and cash equivalents (48,740 ) (3,292 ) (12,450 ) — (64,482 ) Cash and cash equivalents, beginning of the period 53,525 3,826 33,324 — 90,675 Cash and cash equivalents, end of the period $ 4,785 $ 534 $ 20,874 $ — $ 26,193 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated Cash flows from operating activities: Cash provided by (used in) operating activities $ (131 ) $ 1,337 $ 117,073 $ — $ 118,279 Cash flows from investing activities: Purchase of furniture, equipment and leasehold improvements — — (6,654 ) — (6,654 ) Purchase of intangible assets — (400 ) — — (400 ) Proceeds from the settlement of Company-owned life insurance — — 284 — 284 Cash used in investing activities — (400 ) (6,370 ) — (6,770 ) Cash flows from financing activities: Cash dividends paid on Class A non-voting and Class B voting common stock (4,373 ) — — — (4,373 ) Issuance of Class A non-voting common stock 70 — — — 70 Payments for employee taxes withheld related to vested share-based awards (2,529 ) — — — (2,529 ) Decrease in bank call loans, net — — (115,300 ) — (115,300 ) Cash used in financing activities (6,832 ) — (115,300 ) — (122,132 ) Net increase (decrease) in cash and cash equivalents (6,963 ) 937 (4,597 ) — (10,623 ) Cash and cash equivalents, beginning of the period 7,442 3,716 36,996 — 48,154 Cash and cash equivalents, end of the period $ 479 $ 4,653 $ 32,399 $ — $ 37,531

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements	Basis of Presentation The accompanying condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America ("U.S. GAAP") for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 (the "Form 10-K"). The accompanying condensed consolidated balance sheet data was derived from the audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the financial statements and the accompanying disclosures. Although these estimates are based on management's knowledge of current events and actions that the Company may undertake in the future, actual results may differ materially from the estimates. The condensed consolidated results of operations for the nine month period ended September 30, 2019 are not necessarily indicative of the results to be expected for any future interim or annual period. Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, "Measurement of Credit Losses on Financial Instruments," which amends the FASB's guidance on the impairment of financial instruments. The ASU adds to U.S. GAAP an impairment model ("current expected credit loss model"). Under this new guidance, an entity recognizes as an allowance its estimate of expected credit losses. The ASU is effective for fiscal years beginning after December 15, 2019. The Company has performed a preliminary analysis and determined which areas are in and out of scope and which areas that it can apply the practical expedient. The Company is currently assessing the impact of applying the CECL model to areas such as defaulted note receivables and investment banking related receivables accounts. The Company has also determined that it will utilize the practical expedient to areas such as securities borrowed, reverse repurchase agreements, margin lending, and other collateralized transactions due to the continued marking of the underlying collateral. As a result, the Company does not expect the adoption of this ASU to have a material impact on its condensed consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other, Simplifying the Test for Goodwill Impairment," which simplifies the subsequent measurement of goodwill. The Company is no longer required to perform its Step 2 goodwill impairment test; instead, the Company should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The ASU is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company will not early adopt this ASU. The Company is currently evaluating the impact, if any, of the ASU on the Company; the adoption of the ASU is not currently expected to have a material impact on its condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement - Disclosure Framework - Changes to the Disclosure Requirements for the Fair Value Measurement," which modifies the disclosure requirements related to fair value measurement. The ASU is effective for fiscal years and interim periods beginning after December 15, 2019 and early adoption is permitted. The Company will not early adopt this ASU. The Company is currently evaluating the impact, if any, of the ASU on the Company's disclosure.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Lease Cost	The following table presents the weighted average lease term and weighted average discount rate for our operating leases as of September 30, 2019 : As of September 30, 2019 Weighted average remaining lease term (in years) 8.45 Weighted average discount rate 7.91% The following table presents operating lease costs recognized for the three and nine months ended September 30, 2019 which are included in occupancy and equipment costs on the condensed consolidated income statement: (Expressed in thousands) For the Three Months Ended For the Nine Months Ended September 30, 2019 Operating lease costs: Real estate leases - Right-of-use lease asset amortization $ 5,696 $ 17,740 Real estate leases - Interest expense 4,145 11,792 Equipment leases - Right-of-use lease asset amortization 462 1,401 Equipment leases - Interest expense 57 171
Schedule of Maturities of Lease Liabilities	The maturities of lease liabilities as of September 30, 2019 are as follows: (Expressed in thousands) As of September 30, 2019 2019 $ 11,076 2020 42,127 2021 37,087 2022 33,149 2023 31,004 After 2024 135,147 Total lease payments $ 289,590 Less interest (80,842 ) Present value of lease liabilities $ 208,748

Revenues from contracts with _2

Revenues from contracts with customers (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the three months ended September 30, 2019 and 2018: (Expressed in thousands) For the Three Months Ended September 30, 2019 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 35,994 $ — $ 32,569 $ 9 $ 68,572 Mutual fund income 10,050 — 1 4 10,055 Advisory fees 62,510 18,366 2 9 80,887 Investment banking - capital markets 2,557 — 8,773 — 11,330 Investment banking - advisory — — 10,468 — 10,468 Bank deposit sweep income 28,894 — — — 28,894 Other 3,296 2 448 576 4,322 Total revenue from contracts with customers 143,301 18,368 52,261 598 214,528 Other sources of revenue: Interest 8,652 — 3,272 420 12,344 Principal transactions, net 70 — 8,515 (979 ) 7,606 Other 31 — 20 264 315 Total other sources of revenue 8,753 — 11,807 (295 ) 20,265 Total revenue $ 152,054 $ 18,368 $ 64,068 $ 303 $ 234,793 (Expressed in thousands) For the Three Months Ended September 30, 2018 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 36,553 $ — $ 31,807 $ 10 $ 68,370 Mutual fund income 11,059 240 4 5 11,308 Advisory fees 60,516 17,627 3 8 78,154 Investment banking - capital markets 2,733 — 15,806 — 18,539 Investment banking - advisory — — 9,789 — 9,789 Bank deposit sweep income 30,053 — — — 30,053 Other 3,654 3 318 40 4,015 Total revenue from contracts with customers 144,568 17,870 57,727 63 220,228 Other sources of revenue: Interest 9,469 — 3,678 256 13,403 Principal transactions, net 675 — 6,423 (7,114 ) (16 ) Other 3,371 — 302 526 4,199 Total other sources of revenue 13,515 — 10,403 (6,332 ) 17,586 Total revenue $ 158,083 $ 17,870 $ 68,130 $ (6,269 ) $ 237,814 The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the nine months ended September 30, 2019 and 2018: (Expressed in thousands) For the Nine Months Ended September 30, 2019 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 110,496 $ — $ 98,621 $ 16 $ 209,133 Mutual fund income 29,788 (5 ) 3 13 29,799 Advisory fees 181,634 53,572 9 26 235,241 Investment banking - capital markets 9,568 — 32,065 — 41,633 Investment banking - advisory — — 40,214 — 40,214 Bank deposit sweep income 94,692 — — — 94,692 Other 10,101 2 1,289 2,369 13,761 Total revenue from contracts with customers 436,279 53,569 172,201 2,424 664,473 Other sources of revenue: Interest 27,699 — 9,566 1,356 38,621 Principal transactions, net 2,292 — 24,984 (5,187 ) 22,089 Other 11,239 7 97 972 12,315 Total other sources of revenue 41,230 7 34,647 (2,859 ) 73,025 Total revenue $ 477,509 $ 53,576 $ 206,848 $ (435 ) $ 737,498 (Expressed in thousands) For the Nine Months Ended September 30, 2018 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 115,924 $ — $ 96,826 $ 87 $ 212,837 Mutual fund income 32,327 745 11 15 33,098 Advisory fees 180,426 52,465 57 24 232,972 Investment banking - capital markets 10,572 — 46,398 — 56,970 Investment banking - advisory — — 27,472 — 27,472 Bank deposit sweep income 84,203 — — — 84,203 Other 11,359 9 750 (6 ) 12,112 Total revenue from contracts with customers 434,811 53,219 171,514 120 659,664 Other sources of revenue: Interest 27,820 1 10,146 719 38,686 Principal transactions, net 807 — 15,804 (7,501 ) 9,110 Other 5,292 — 401 1,747 7,440 Total other sources of revenue 33,919 1 26,351 (5,035 ) 55,236 Total revenue $ 468,730 $ 53,220 $ 197,865 $ (4,915 ) $ 714,900
Contract with Customer, Asset and Liability	The following presents the Company's contract assets and deferred revenue balances from contracts with customers, which are included in other assets and other liabilities, respectively, on the condensed consolidated balance sheet: (Expressed in thousands) Ending Balance at September 30, 2019 Opening Balance at January 1, 2019 Contract assets (receivables): Commission (1) $ 3,295 $ 3,738 Mutual fund income (2) 6,836 7,241 Advisory fees (3) 1,013 1,214 Bank deposit sweep income (4) 3,911 4,622 Investment banking fees (5) 7,688 3,996 Other 2,452 2,869 Total contract assets $ 25,195 $ 23,680 Deferred revenue (payables): Investment banking fees (6) $ 1,055 $ 318 IRA fees (7) 667 — Total deferred revenue $ 1,722 $ 318 (1) Commission recorded on trade date but not yet settled. (2) Mutual fund income earned but not yet received. (3) Management and performance fees earned but not yet received. (4) Fees earned from FDIC-insured bank deposit program but not yet received. (5) Underwriting revenue and advisory fees earned but not yet received. (6) Retainer fees and fees earned from certain advisory transactions where the performance obligations have not yet been satisfied. (7) Fee received in advance on an annual basis.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Summary of Earnings Per Share	Earnings per share have been calculated as follows: (Expressed in thousands, except number of shares and per share amounts) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Basic weighted average number of shares outstanding 12,825,944 13,269,024 12,940,129 13,252,596 Net dilutive effect of share-based awards, treasury method (1) 1,007,050 871,239 906,010 790,730 Diluted weighted average number of shares outstanding 13,832,994 14,140,263 13,846,139 14,043,326 Net income $ 3,949 $ 5,071 $ 27,518 $ 20,631 Net income per share Basic $ 0.31 $ 0.38 $ 2.13 $ 1.56 Diluted $ 0.29 $ 0.36 $ 1.99 $ 1.47 (1) For both the three and nine months ended September 30, 2019 , the diluted net income per share computation does not include the anti-dilutive effect of 7,628 shares of Class A Stock granted under share-based compensation arrangements ( 4,050 shares for both the three and nine months ended September 30, 2018).

Receivable From and Payable t_2

Receivable From and Payable to Brokers, Dealers and Clearing Organizations (Tables)	9 Months Ended
	Sep. 30, 2019
Brokers and Dealers [Abstract]
Receivable from and Payable to Brokers, Dealers and Clearing Organizations	R

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Investments in Company-Sponsored Funds	The following table provides information about the Company's investments in Company-sponsored funds as of September 30, 2019 : (Expressed in thousands) Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period Hedge funds (1) $ 1,577 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 4,335 1,399 N/A N/A $ 5,912 $ 1,399 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. (2) Includes private equity funds and private equity fund of funds with a focus on diversified portfolios, real estate and global natural resources.
Assets and Liabilities Measured at Fair Value on Recurring Basis	bilities, recorded at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 , have been categorized based upon the above fair value hierarchy as follows: Assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 (Expressed in thousands) Fair Value Measurements as of September 30, 2019 Level 1 Level 2 Level 3 Total Assets Deposits with clearing organizations $ 36,461 $ — $ — $ 36,461 Securities owned: U.S. Treasury securities 462,298 — — 462,298 U.S. Agency securities 1,605 7,135 — 8,740 Sovereign obligations — 2,571 — 2,571 Corporate debt and other obligations — 24,448 — 24,448 Mortgage and other asset-backed securities — 2,292 — 2,292 Municipal obligations — 66,550 — 66,550 Convertible bonds — 28,796 — 28,796 Corporate equities 31,822 — — 31,822 Money markets 363 — — 363 Auction rate securities — 25,314 — 25,314 Securities owned, at fair value 496,088 157,106 — 653,194 Derivative contracts: TBAs — 12 — 12 Total $ 532,549 $ 157,118 $ — $ 689,667 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 74,020 $ — $ — $ 74,020 U.S. Agency securities — 7 — 7 Sovereign obligations — 2,503 — 2,503 Corporate debt and other obligations — 11,683 — 11,683 Mortgage and other asset-backed securities — 1 — 1 Convertible bonds — 16,216 — 16,216 Corporate equities 17,450 — — 17,450 Securities sold but not yet purchased, at fair value 91,470 30,410 — 121,880 Derivative contracts: Futures 322 — — 322 TBAs — 9 — 9 ARS purchase commitments — 1,006 — 1,006 Derivative contracts, total 322 1,015 — 1,337 Total $ 91,792 $ 31,425 $ — $ 123,217 (1) Included in other assets on the condensed consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 (Expressed in thousands) Fair Value Measurements as of December 31, 2018 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 10,500 $ — $ — $ 10,500 Deposits with clearing organizations 34,599 — — 34,599 Securities owned: U.S. Treasury securities 657,208 — — 657,208 U.S. Agency securities 812 6,494 — 7,306 Sovereign obligations — 214 — 214 Corporate debt and other obligations — 20,665 — 20,665 Mortgage and other asset-backed securities — 2,486 — 2,486 Municipal obligations — 52,261 — 52,261 Convertible bonds — 31,270 — 31,270 Corporate equities 28,215 — — 28,215 Money markets 7 — — 7 Auction rate securities — 16,253 21,699 37,952 Securities owned, at fair value 686,242 129,643 21,699 837,584 Investments (1) — — 101 101 Derivative contracts: TBAs — 4,873 — 4,873 Total $ 731,341 $ 134,516 $ 21,800 $ 887,657 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 53,646 $ — $ — $ 53,646 U.S. Agency securities — 3 — 3 Sovereign obligations — 78 — 78 Corporate debt and other obligations — 7,236 — 7,236 Convertible bonds — 9,709 — 9,709 Corporate equities 14,774 — — 14,774 Securities sold but not yet purchased, at fair value 68,420 17,026 — 85,446 Derivative contracts: Futures 807 — — 807 Foreign exchange forward contracts 4 — — 4 TBAs — 4,873 — 4,873 ARS purchase commitments — 1,096 — 1,096 Derivative contracts, total 811 5,969 — 6,780 Total $ 69,231 $ 22,995 $ — $ 92,226 (1) Included in other assets on the condensed consolidated balance sheet. For the three months ended September 30, 2019, there were no balances or changes in Level 3 assets and liabilities. The following table presents
Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis	es in Level 3 assets and liabilities measured at fair value on a recurring basis for the three months ended September 30, 2018 : (Expressed in thousands) Level 3 Assets and Liabilities For the Three Months Ended September 30, 2018 Beginning Balance Total Realized and Unrealized Losses (3)(4) Purchases and Issuances Sales and Settlements Transfers In/Out Ending Balance Assets Auction rate securities (1)(5) $ 72,621 $ (2,163 ) $ 2,150 $ (34,925 ) $ (16,253 ) $ 21,430 Investments 164 — — — (60 ) 104 Liabilities ARS purchase commitments (2)(5) 131 (948 ) — — 1,078 1 (1) Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market. (2) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (3) Included in principal transactions in the condensed consolidated statement of income, except for losses from investments which are included in other income in the condensed consolidated statement of income. (4) Unrealized losses are attributable to assets or liabilities that are still held at the reporting date. (5) Represents transfers from Level 3 to Level 2 of the fair value hierarchy. Transfers were due to tender offers by issuers of ARS. The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the nine months ended September 30, 2019 and 2018 : (Expressed in thousands) Level 3 Assets and Liabilities For the Nine Months Ended September 30, 2019 Beginning Balance Total Realized and Unrealized Gains (2)(3) Purchases and Issuances Sales and Settlements Transfers Out Ending Balance Assets Auction rate securities (1) $ 21,699 $ 1 $ — $ (350 ) $ (21,350 ) $ — Investments 101 5 — — (106 ) — (1) Represents auction rate preferred securities that failed in the auction rate market. (2) Included in principal transactions in the condensed consolidated statement of income, except for gains from investments which are included in other income in the condensed consolidated statement of income. (3) Unrealized gains are attributable to assets or liabilities that are still held at the reporting date. (Expressed in thousands) Level 3 Assets and Liabilities For the Nine Months Ended September 30, 2018 Beginning Balance Total Realized and Unrealized Gains (Losses) (3)(4) Purchases and Issuances Sales and Settlements Transfers In/Out Ending Balance Assets Municipal obligations $ 35 $ 14 $ 76 $ (125 ) $ — $ — Auction rate securities (1) (5) 87,398 (2,218 ) 6,250 (36,145 ) (33,855 ) 21,430 Investments 169 (5 ) — — (60 ) 104 Liabilities ARS purchase commitments (2) (5) 8 (1,162 ) — — 1,169 1 (1) Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market. (2) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (3) Included in principal transactions in the condensed consolidated statement of income, except for gains (losses) from investments which are included in other income in the condensed consolidated statement of income. (4) Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date. (5) Represents transfers from Level 3 to Level 2 of the fair value hierarchy. Transfers were due to tender offers by issuers of ARS. Financial Instruments Not M
Financial Instruments, Estimate Not Practicable, Fair Value	d at fair value as of September 30, 2019 (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash $ 26,193 $ 26,193 $ — $ — $ 26,193 Deposits with clearing organization 37,269 37,269 — — 37,269 Receivable from brokers, dealers and clearing organizations: Securities borrowed 103,738 — 103,738 — 103,738 Receivables from brokers 13,839 — 13,839 — 13,839 Securities failed to deliver 13,362 — 13,362 — 13,362 Clearing organizations 24,775 — 24,775 — 24,775 Other 2,017 — 2,017 — 2,017 157,731 — 157,731 — 157,731 Receivable from customers 754,927 — 754,927 — 754,927 Notes receivable, net 43,920 — 43,920 — 43,920 Investments (1) 68,919 — 68,919 — 68,919 (1) Included in other assets on the condensed consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Drafts payable $ 17,794 $ 17,794 $ — $ — $ 17,794 Payables to brokers, dealers and clearing organizations: Securities loaned 209,298 — 209,298 — 209,298 Payable to brokers 7,040 — 7,040 — 7,040 Securities failed to receive 13,228 — 13,228 — 13,228 Other 134,707 — 134,707 — 134,707 364,273 — 364,273 — 364,273 Payables to customers 313,056 — 313,056 — 313,056 Securities sold under agreements to repurchase 253,720 — 253,720 — 253,720 Senior secured notes 150,000 — 154,907 — 154,907 Assets and liabilities not measured at fair value as of December 31, 2018 (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash $ 80,175 $ 80,175 $ — $ — $ 80,175 Deposits with clearing organization 33,079 33,079 — — 33,079 Receivable from brokers, dealers and clearing organizations: Securities borrowed 108,144 — 108,144 — 108,144 Receivables from brokers 20,140 — 20,140 — 20,140 Securities failed to deliver 7,021 — 7,021 — 7,021 Clearing organizations 28,777 — 28,777 — 28,777 Other 2,411 — 2,411 — 2,411 166,493 — 166,493 — 166,493 Receivable from customers 720,777 — 720,777 — 720,777 Securities purchased under agreements to resell 290 — 290 — 290 Notes receivable, net 44,058 — 44,058 — 44,058 Investments (1) 59,765 — 59,765 — 59,765 (1) Included in other assets on the condensed consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Drafts payable $ 16,348 $ 16,348 $ — $ — $ 16,348 Bank call loans 15,000 — 15,000 — 15,000 Payables to brokers, dealers and clearing organizations: Securities loaned 146,815 — 146,815 — 146,815 Payable to brokers 158 — 158 — 158 Securities failed to receive 27,799 — 27,799 — 27,799 Other 113,628 — 113,628 — 113,628 288,400 — 288,400 — 288,400 Payables to customers 336,616 — 336,616 — 336,616 Securities sold under agreements to repurchase 484,218 — 484,218 — 484,218 Senior secured notes 200,000 — 199,722 — 199,722 Fair Value Option The Compa
Notional Amounts and Fair Values of Derivatives by Product	es of the Company's derivatives as of September 30, 2019 and December 31, 2018 by product were as follows: (Expressed in thousands) Fair Value of Derivative Instruments as of September 30, 2019 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 15,742 $ 12 $ 15,742 $ 12 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 2,846,000 $ 322 Other contracts TBAs 12,240 9 ARS purchase commitments 7,010 1,006 $ 2,865,250 $ 1,337 (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. (Expressed in thousands) Fair Value of Derivative Instruments as of December 31, 2018 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 729,500 $ 4,873 $ 729,500 $ 4,873 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 4,580,800 $ 807 Other contracts Foreign exchange forward contracts 200 4 TBAs 729,500 4,873 ARS purchase commitments 7,305 1,096 $ 5,317,805 $ 6,780 (1) See "Derivative Instruments and Hedging Activities" above for a description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset. The following table presents the
Fair Value Amounts of Derivative Instruments and their Effect on Statement of Operations	the location and fair value amounts of the Company's derivative instruments and their effect in the condensed consolidated statements of income for the three and nine months ended September 30, 2019 and 2018 : (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended September 30, 2019 Recognized in Income on Derivatives (pre-tax) Types Description Location Net Gain (Loss) Commodity contracts Futures Principal transactions revenue $ (443 ) Other contracts Foreign exchange forward contracts Other revenue 5 TBAs Principal transactions revenue (9 ) ARS purchase commitments Principal transactions revenue (242 ) $ (689 ) (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended September 30, 2018 Recognized in Income on Derivatives (pre-tax) Types Description Location Net Gain (Loss) Commodity contracts Futures Principal transactions revenue $ 413 Other contracts Foreign exchange forward contracts Other revenue 2 TBAs Principal transactions revenue 73 Other TBAs Other revenue 62 ARS purchase commitments Principal transactions revenue (857 ) $ (307 ) (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Nine Months Ended September 30, 2019 Recognized in Income on Derivatives (pre-tax) Types Description Location Net Gain (Loss) Commodity contracts Futures Principal transactions revenue $ (3,109 ) Other contracts Foreign exchange forward contracts Other revenue 15 TBAs Principal transactions revenue (85 ) ARS purchase commitments Principal transactions revenue 90 $ (3,089 ) (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Nine Months Ended September 30, 2018 Recognized in Income on Derivatives (pre-tax) Types Description Location Net Gain (Loss) Commodity contracts Futures Principal transactions revenue $ 1,764 Other contracts Foreign exchange forward contracts Other revenue (3 ) TBAs Principal transactions revenue 269 Other TBAs Other revenue 209 ARS purchase commitments Principal transactions revenue (1,071 ) $ 1,168

Collateralized Transactions (Ta

Collateralized Transactions (Tables)	9 Months Ended
	Sep. 30, 2019
Brokers and Dealers [Abstract]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings	The following table presents a disaggregation of the gross obligation by the class of collateral pledged and the remaining contractual maturity of the repurchase agreements and securities loaned transactions as of September 30, 2019 : (Expressed in thousands) Overnight and Open Repurchase agreements: U.S. Government and Agency securities $ 345,193 Securities loaned: Equity securities 209,298 Gross amount of recognized liabilities for repurchase agreements and securities loaned $ 554,491
Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Lending Transactions	The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of September 30, 2019 and December 31, 2018 : As of September 30, 2019 (Expressed in thousands) Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Assets Gross Amounts Offset on the Balance Sheet Net Amounts of Assets Presented on the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Reverse repurchase agreements $ 91,473 $ (91,473 ) $ — $ — $ — $ — Securities borrowed (1) 103,738 — 103,738 (100,188 ) — 3,550 Total $ 195,211 $ (91,473 ) $ 103,738 $ (100,188 ) $ — $ 3,550 (1) Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet. Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Amounts of Liabilities Presented on the Balance Sheet Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ 345,193 $ (91,473 ) $ 253,720 $ (252,401 ) $ — $ 1,319 Securities loaned (2) 209,298 — 209,298 (203,747 ) — 5,551 Total $ 554,491 $ (91,473 ) $ 463,018 $ (456,148 ) $ — $ 6,870 (2) Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet. As of December 31, 2018 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 82,429 $ (82,139 ) $ 290 $ — $ — $ 290 Securities borrowed (1) 108,144 — 108,144 (105,960 ) — 2,184 Total $ 190,573 $ (82,139 ) $ 108,434 $ (105,960 ) $ — $ 2,474 (1) Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet. Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Amounts of Liabilities Presented on the Balance Sheet Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ 566,357 $ (82,139 ) $ 484,218 $ (480,322 ) $ — $ 3,896 Securities loaned (2) 146,815 — 146,815 (139,232 ) — 7,583 Total $ 713,172 $ (82,139 ) $ 631,033 $ (619,554 ) $ — $ 11,479 (2) Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2019
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 as of September 30, 2019 and December 31, 2018 : (Expressed in thousands) As of September 30, 2019 Total VIE Assets (1) Carrying Value of the Capital Commitments Maximum Exposure to Loss in Non-consolidated VIEs Assets (2) Liabilities Hedge funds $ 354,675 $ 247 $ — $ — $ 247 Private equity funds 7,454 8 — — 8 Total $ 362,129 $ 255 $ — $ — $ 255 (1) Represents the total assets of the VIEs and does not represent the Company's interests in the VIEs. (2) Represents the Company's interest in the VIEs and is included in other assets on the condensed consolidated balance sheet. (Expressed in thousands) As of December 31, 2018 Total (1) Carrying Value of the Capital Maximum Assets (2) Liabilities Hedge funds $ 291,200 $ 337 $ — $ — $ 337 Private equity funds 7,454 8 — — 8 Total $ 298,654 $ 345 $ — $ — $ 345 (1) Represents the total assets of the VIEs and does not represent the Company's interests in the VIEs. (2) Represents the Company's interest in the VIEs and is included in other assets on the condensed consolidated balance sheet.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	(Expressed in thousands) Issued Maturity Date September 30, 2019 December 31, 2018 6.75% Senior Secured Notes 7/1/2022 $ 150,000 $ 200,000 Unamortized Debt Issuance Cost (533 ) (904 ) $ 149,467 $ 199,096

Share Capital (Tables)

Share Capital (Tables)	9 Months Ended
	Sep. 30, 2019
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: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Class A Stock outstanding, beginning of period 12,756,308 13,156,353 12,941,809 13,139,203 Issued pursuant to share-based compensation plans 19,052 21,578 80,143 38,728 Repurchased and canceled pursuant to the stock buy-back (76,657 ) — (323,249 ) — Class A Stock outstanding, end of period 12,698,703 13,177,931 12,698,703 13,177,931

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Reported Revenue and Profit Before Income Taxes	The table below presents information about the reported revenue and income (loss) before income taxes of the Company for the three and nine months ended September 30, 2019 and 2018 . 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 Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Revenue Private client (1) $ 152,054 $ 158,083 $ 477,509 $ 468,730 Asset management (1) 18,368 17,870 53,576 53,220 Capital markets 64,068 68,130 206,848 197,865 Corporate/Other 303 (6,269 ) (435 ) (4,915 ) Total $ 234,793 $ 237,814 $ 737,498 $ 714,900 Income (loss) before income taxes Private client (1) $ 35,251 $ 37,608 $ 121,501 $ 111,283 Asset management (1) 4,932 4,127 12,492 11,803 Capital markets (6,385 ) (2,076 ) (10,833 ) (8,332 ) Corporate/Other (27,302 ) (32,505 ) (83,221 ) (85,462 ) Total $ 6,496 $ 7,154 $ 39,939 $ 29,292 (1) Clients investing in the OAM advisory program are charged fees based on the value of AUM. Advisory fees are allocated 10.0% to the Asset Management and 90.0% to the Private Client segments.
Revenue Classified by Major Geographic Areas	Revenue, classified by the major geographic areas in which it was earned, for the three and nine months ended September 30, 2019 and 2018 was as follows: (Expressed in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Americas $ 227,001 $ 230,486 $ 712,864 $ 690,569 Europe/Middle East 7,257 6,500 22,592 21,245 Asia 535 828 2,042 3,086 Total $ 234,793 $ 237,814 $ 737,498 $ 714,900

Supplemental Guarantor Consol_2

Supplemental Guarantor Consolidated Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract]
Condensed Income Statement
Condensed Consolidating Balance Sheet	OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2019 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 4,785 $ 534 $ 20,874 $ — $ 26,193 Deposits with clearing organizations — — 73,730 — 73,730 Receivable from brokers, dealers and clearing organizations — — 157,734 — 157,734 Receivable from customers, net of allowance for credit losses of $941 — — 754,927 — 754,927 Income tax receivable 49,333 15,488 — (62,488 ) 2,333 Securities owned, including amounts pledged of $359,151 at fair value — 1,327 651,867 — 653,194 Notes receivable, net of accumulated amortization and allowance for uncollectibles of $35,373 and $3,886, respectively — — 43,920 — 43,920 Furniture, equipment and leasehold improvements, net of accumulated depreciation of $92,690 — 23,097 8,988 — 32,085 Right-of-use lease assets, net of accumulated amortization of $19,141 — 158,793 6,106 — 164,899 Subordinated loan receivable — 112,558 — (112,558 ) — Intangible assets — 400 31,700 — 32,100 Goodwill — — 137,889 — 137,889 Other assets 154 12,612 122,649 (10,931 ) 124,484 Deferred tax assets 103 7,020 11,963 (19,086 ) — Investment in subsidiaries 692,030 761,924 24,628 (1,478,582 ) — Intercompany receivables — 46,325 14,092 (60,417 ) — Total assets $ 746,405 $ 1,140,078 $ 2,061,067 $ (1,744,062 ) $ 2,203,488 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Drafts payable $ — $ — $ 17,794 $ — $ 17,794 Bank call loans — — — — — Payable to brokers, dealers and clearing organizations — — 364,595 — 364,595 Payable to customers — — 313,056 — 313,056 Securities sold under agreements to repurchase — — 253,720 — 253,720 Securities sold but not yet purchased, at fair value — — 121,880 — 121,880 Accrued compensation — — 149,862 — 149,862 Income tax payable — 40 62,489 (62,529 ) — Accounts payable and other liabilities 2,584 90 51,500 (10,940 ) 43,234 Lease liabilities — 202,121 6,625 2 208,748 Senior secured notes, net of debt issuance cost of $533 149,467 — — — 149,467 Subordinated indebtedness — — 112,558 (112,558 ) — Deferred tax liabilities — — 33,546 (19,041 ) 14,505 Intercompany payables 27,727 — — (27,727 ) — Total liabilities 179,778 202,251 1,487,625 (232,793 ) 1,636,861 Stockholders' equity Total stockholders' equity 566,627 937,827 573,442 (1,511,269 ) 566,627 Total liabilities and stockholders' equity $ 746,405 $ 1,140,078 $ 2,061,067 $ (1,744,062 ) $ 2,203,488 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2018 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 53,525 $ 3,826 $ 33,324 $ — $ 90,675 Deposits with clearing organizations — — 67,678 — 67,678 Receivable from brokers, dealers and clearing organizations — — 166,493 — 166,493 Receivable from customers, net of allowance for credit losses of $886 — — 720,777 — 720,777 Income tax receivable 45,733 23,491 (702 ) (67,508 ) 1,014 Securities purchased under agreements to resell — — 290 — 290 Securities owned, including amounts pledged of $517,951 at fair value — 1,358 836,226 — 837,584 Notes receivable, net of accumulated amortization and allowance for uncollectibles of $25,109 and $6,800, respectively — — 44,058 — 44,058 Furniture, equipment and leasehold improvements, net of accumulated depreciation of $89,182 — 20,722 8,266 — 28,988 Subordinated loan receivable — 112,558 — (112,558 ) — Intangible assets — 400 31,700 — 32,100 Goodwill — — 137,889 — 137,889 Other assets 135 2,581 110,052 — 112,768 Deferred tax assets 1 455 18,494 (18,950 ) — Investment in subsidiaries 661,837 546,704 — (1,208,541 ) — Intercompany receivables (14,211 ) 46,840 (6,299 ) (26,330 ) — Total assets $ 747,020 $ 758,935 $ 2,168,246 $ (1,433,887 ) $ 2,240,314 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Drafts payable $ — $ — $ 16,348 $ — $ 16,348 Bank call loans — — 15,000 — 15,000 Payable to brokers, dealers and clearing organizations — — 289,207 — 289,207 Payable to customers — — 336,616 — 336,616 Securities sold under agreements to repurchase — — 484,218 — 484,218 Securities sold but not yet purchased, at fair value — — 85,446 — 85,446 Accrued compensation — — 167,348 — 167,348 Accounts payable and other liabilities 163 31,653 55,823 (9 ) 87,630 Income tax payable 2,440 22,189 42,878 (67,507 ) — Senior secured notes, net of debt issuance cost of $904 199,096 — — — 199,096 Subordinated indebtedness — — 112,558 (112,558 ) — Deferred tax liabilities — — 33,029 (18,946 ) 14,083 Intercompany payables — 26,334 — (26,334 ) — Total liabilities 201,699 80,176 1,638,471 (225,354 ) 1,694,992 Stockholders' equity Total stockholders' equity 545,322 678,759 529,774 (1,208,533 ) 545,322 Total liabilities and stockholders' equity $ 747,021 $ 758,935 $ 2,168,245 $ (1,433,887 ) $ 2,240,314
Condensed Consolidating Statement of Cash Flows	OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated Cash flows from operating activities: Cash provided by (used in) operating activities $ 16,687 $ (3,292 ) $ 9,502 $ — $ 22,897 Cash flows from investing activities: Purchase of furniture, equipment and leasehold improvements — — (8,672 ) — (8,672 ) Proceeds from the settlement of Company-owned life insurance — — 1,720 — 1,720 Cash used in investing activities — — (6,952 ) — (6,952 ) Cash flows from financing activities: Cash dividends paid on Class A non-voting and Class B voting common stock (4,408 ) — — — (4,408 ) Issuance of Class A non-voting common stock 83 — — — 83 Repurchase of Class A non-voting common stock (8,400 ) — — — (8,400 ) Redemption of senior secured notes (50,000 ) — — — (50,000 ) Debt redemption costs (1,688 ) — — — (1,688 ) Payments for employee taxes withheld related to vested share-based awards (1,014 ) — — — (1,014 ) Decrease in bank call loans, net — — (15,000 ) — (15,000 ) Cash used in financing activities (65,427 ) — (15,000 ) — (80,427 ) Net increase (decrease) in cash and cash equivalents (48,740 ) (3,292 ) (12,450 ) — (64,482 ) Cash and cash equivalents, beginning of the period 53,525 3,826 33,324 — 90,675 Cash and cash equivalents, end of the period $ 4,785 $ 534 $ 20,874 $ — $ 26,193 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor subsidiaries Eliminations Consolidated Cash flows from operating activities: Cash provided by (used in) operating activities $ (131 ) $ 1,337 $ 117,073 $ — $ 118,279 Cash flows from investing activities: Purchase of furniture, equipment and leasehold improvements — — (6,654 ) — (6,654 ) Purchase of intangible assets — (400 ) — — (400 ) Proceeds from the settlement of Company-owned life insurance — — 284 — 284 Cash used in investing activities — (400 ) (6,370 ) — (6,770 ) Cash flows from financing activities: Cash dividends paid on Class A non-voting and Class B voting common stock (4,373 ) — — — (4,373 ) Issuance of Class A non-voting common stock 70 — — — 70 Payments for employee taxes withheld related to vested share-based awards (2,529 ) — — — (2,529 ) Decrease in bank call loans, net — — (115,300 ) — (115,300 ) Cash used in financing activities (6,832 ) — (115,300 ) — (122,132 ) Net increase (decrease) in cash and cash equivalents (6,963 ) 937 (4,597 ) — (10,623 ) Cash and cash equivalents, beginning of the period 7,442 3,716 36,996 — 48,154 Cash and cash equivalents, end of the period $ 479 $ 4,653 $ 32,399 $ — $ 37,531

Organization - Additional Infor

Organization - Additional Information (Narrative) (Details)	Sep. 30, 2019office
Americas
Organization And Basis Of Presentation [Line Items]
Number of offices providing services	94

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)office	Dec. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset	$ 164,899	$ 0
Operating Lease Right-of-use Asset Accumulated Amortization	$ 19,100
Weighted average remaining lease term (in years)	8 years 5 months 13 days
Weighted average discount rate	7.91%
Present value of lease liabilities	$ 208,748	$ 0
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lease Expiration Date	Oct. 1, 2034
UNITED STATES
Lessee, Lease, Description [Line Items]
Number of Stores | office	94
Real Estate [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset	$ 161,700
Operating Lease Right-of-use Asset Accumulated Amortization	17,700
Present value of lease liabilities	205,500
Equipment [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset	3,200
Operating Lease Right-of-use Asset Accumulated Amortization	1,400
Present value of lease liabilities	$ 3,200

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Leases [Abstract]
2019	$ 11,076
2020	42,127
2021	37,087
2022	33,149
2023	31,004
After 2024	135,147
Total lease payments	289,590
Less interest	(80,842)
Present value of lease liabilities	$ 208,748	$ 0

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Real Estate [Member]
Lessee, Lease, Description [Line Items]
Operating Lease Right-of-use Asset, Amortization	$ 5,696	$ 17,740
Operating Lease, Interest Expense	4,145	11,792
Equipment [Member]
Lessee, Lease, Description [Line Items]
Operating Lease Right-of-use Asset, Amortization	462	1,401
Operating Lease, Interest Expense	$ 57	$ 171

Revenues from contracts with _3

Revenues from contracts with customers (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 214,528	$ 220,228	$ 664,473	$ 659,664
Interest	12,344	13,403	38,621	38,686
Principal transactions, net	7,606	(16)	22,089	9,110
Other	315	4,199	12,315	7,440
Total other sources of revenue	20,265	17,586	73,025	55,236
Total revenue	234,793	237,814	737,498	714,900
Commissions from sales and trading
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	68,572	68,370	209,133	212,837
Mutual fund income
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	10,055	11,308	29,799	33,098
Advisory fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	80,887	78,154	235,241	232,972
Investment banking - capital markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,330	18,539	41,633	56,970
Investment banking - advisory
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	10,468	9,789	40,214	27,472
Bank deposit sweep income
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	28,894	30,053	94,692	84,203
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,322	4,015	13,761	12,112
Private Client
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	143,301	144,568	436,279	434,811
Interest	8,652	9,469	27,699	27,820
Principal transactions, net	70	675	2,292	807
Other	31	3,371	11,239	5,292
Total other sources of revenue	8,753	13,515	41,230	33,919
Total revenue	152,054	158,083	477,509	468,730
Private Client | Commissions from sales and trading
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	35,994	36,553	110,496	115,924
Private Client | Mutual fund income
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	10,050	11,059	29,788	32,327
Private Client | Advisory fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	62,510	60,516	181,634	180,426
Private Client | Investment banking - capital markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,557	2,733	9,568	10,572
Private Client | Investment banking - advisory
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Private Client | Bank deposit sweep income
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	28,894	30,053	94,692	84,203
Private Client | Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,296	3,654	10,101	11,359
Asset Management
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	18,368	17,870	53,569	53,219
Interest	0	0	0	1
Principal transactions, net	0	0	0	0
Other	0	0	7	0
Total other sources of revenue	0	0	7	1
Total revenue	18,368	17,870	53,576	53,220
Asset Management | Commissions from sales and trading
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Asset Management | Mutual fund income
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	240	(5)	745
Asset Management | Advisory fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	18,366	17,627	53,572	52,465
Asset Management | Investment banking - capital markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Asset Management | Investment banking - advisory
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Asset Management | Bank deposit sweep income
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Asset Management | Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2	3	2	9
Capital markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	52,261	57,727	172,201	171,514
Interest	3,272	3,678	9,566	10,146
Principal transactions, net	8,515	6,423	24,984	15,804
Other	20	302	97	401
Total other sources of revenue	11,807	10,403	34,647	26,351
Total revenue	64,068	68,130	206,848	197,865
Capital markets | Commissions from sales and trading
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	32,569	31,807	98,621	96,826
Capital markets | Mutual fund income
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1	4	3	11
Capital markets | Advisory fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2	3	9	57
Capital markets | Investment banking - capital markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	8,773	15,806	32,065	46,398
Capital markets | Investment banking - advisory
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	10,468	9,789	40,214	27,472
Capital markets | Bank deposit sweep income
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Capital markets | Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	448	318	1,289	750
Corporate/Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	598	63	2,424	120
Interest	420	256	1,356	719
Principal transactions, net	(979)	(7,114)	(5,187)	(7,501)
Other	264	526	972	1,747
Total other sources of revenue	(295)	(6,332)	(2,859)	(5,035)
Total revenue	303	(6,269)	(435)	(4,915)
Corporate/Other | Commissions from sales and trading
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	9	10	16	87
Corporate/Other | Mutual fund income
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4	5	13	15
Corporate/Other | Advisory fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	9	8	26	24
Corporate/Other | Investment banking - capital markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Corporate/Other | Investment banking - advisory
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Corporate/Other | Bank deposit sweep income
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Corporate/Other | Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 576	$ 40	$ 2,369	$ (6)

Revenues from contracts with _4

Revenues from contracts with customers (Contract Assets and Liabilities) (Details) - USD ($)	Sep. 30, 2019	Jan. 01, 2019
Capitalized Contract Cost [Line Items]
Contract assets	$ 25,195,000	$ 23,680,000
Deferred income, IRA fees	1,722,000	318,000
Commission
Capitalized Contract Cost [Line Items]
Contract assets	3,295,000	3,738,000
Mutual Fund Income
Capitalized Contract Cost [Line Items]
Contract assets	6,836,000	7,241,000
Advisory fees
Capitalized Contract Cost [Line Items]
Contract assets	1,013,000	1,214,000
Bank Deposit Sweep Income
Capitalized Contract Cost [Line Items]
Contract assets	3,911,000	4,622,000
Investment Banking Fees
Capitalized Contract Cost [Line Items]
Contract assets	7,688,000	3,996,000
Other Income [Member]
Capitalized Contract Cost [Line Items]
Contract assets	2,452,000	2,869,000
Investment Banking Fees
Capitalized Contract Cost [Line Items]
Deferred income, IRA fees	1,055,000	318,000
IRA fees (7)
Capitalized Contract Cost [Line Items]
Deferred income, IRA fees	$ 667,000	$ 0

Earnings Per Share - Summary of

Earnings Per Share - Summary of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Basic weighted average number of shares outstanding		12,825,944	13,269,024	12,940,129	13,252,596
Net dilutive effect of share-based awards, treasury method	[1]	1,007,050	871,239	906,010	790,730
Diluted weighted average number of shares outstanding		13,832,994	14,140,263	13,846,139	14,043,326
Net Income (Loss) Attributable to Parent		$ 3,949	$ 5,071	$ 27,518	$ 20,631
Diluted		$ 0.31	$ 0.38	$ 2.13	$ 1.56
Net loss per share (in dollars per share)		$ 0.29	$ 0.36	$ 1.99	$ 1.47
[1]	For both the three and nine months ended September 30, 2019, the diluted net income per share computation does not include the anti-dilutive effect of 7,628 shares of Class A Stock granted under share-based compensation arrangements (4,050 shares for both the three and nine months ended September 30, 2018).

Earnings Per Share - Summary _2

Earnings Per Share - Summary of Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
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	7,628	4,050	7,628	4,050

Receivable from and Payable t_3

Receivable from and Payable to Brokers, Dealers and Clearing Organizations (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Receivable from brokers, dealers and clearing organizations consists of:
Securities borrowed	$ 103,738	$ 108,144
Receivable from brokers	13,839	20,140
Securities failed to deliver	13,362	7,021
Clearing organizations	24,775	28,777
Other	2,020	2,411
Receivables from broker, dealers and clearing organizations	157,734	166,493
Payable to brokers, dealers and clearing organizations consists of:
Securities loaned	209,298	146,815
Due to Correspondent Brokers	7,040	158
Securities failed to receive	13,228	27,799
Other	135,029	114,435
Payable to brokers, dealers and clearing organizations	$ 364,595	$ 289,207

Fair Value Measurements - Secur

Fair Value Measurements - Securities Owned and Securities Sold, But Not Yet Purchased at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	$ 653,194	$ 837,584
Securities Sold	121,880	85,446
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned	653,194	837,584
Corporate debt and other obligations
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	24,448	20,665
Securities Sold	11,683	7,236
Municipal obligations
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	66,550	52,261
Convertible bonds
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	28,796	31,270
Securities Sold	$ 16,216	$ 9,709

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Details) $ in Millions	Sep. 30, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Valuation Adjustment For Level Three Asset and Liability	$ 5.1
Auction rate securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Valuation Adjustment For Level Three Asset and Liability	4.1
Auction Rate Securities Purchase Commitment
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Valuation Adjustment For Level Three Asset and Liability	$ 1

Fair Value Measurements - Inves

Fair Value Measurements - Investments in Company-Sponsored Funds (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Investment Holdings [Line Items]
Fair Value	$ 5,912
Unfunded Commitments	$ 1,399
Hedge Funds [Member]
Investment Holdings [Line Items]
Investment Redemption Notice Period Minimum	30 days
Investment Redemption Notice Period Maximum	120 days
Fair Value	$ 1,577
Unfunded Commitments	$ 0
Redemption Frequency	Quarterly - Annually
Private Equity Funds
Investment Holdings [Line Items]
Fair Value	$ 4,335
Unfunded Commitments	$ 1,399

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash equivalents		$ 10,500
Deposits with clearing organizations	$ 36,461	34,599
Securities owned
Securities owned, at fair value	653,194	837,584
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned	653,194	837,584
Investments	5,912
Derivative contracts
Total	689,667	887,657
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	121,880	85,446
Derivative contracts:
Derivative contracts	1,337	6,780
Total	123,217	92,226
Investments
Securities owned
Investments		101
Equity Securities [Member]
Securities owned
Securities owned, at fair value	31,822	28,215
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	17,450	14,774
Money Market Funds [Member]
Securities owned
Securities owned, at fair value	363	7
Auction rate securities
Securities owned
Securities owned, at fair value	25,314	37,952
U.S. Treasury securities
Securities owned
Securities owned, at fair value	462,298	657,208
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	74,020	53,646
US Government Agencies Debt Securities [Member]
Securities owned
Securities owned, at fair value	8,740	7,306
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	7	3
Sovereign obligations
Securities owned
Securities owned, at fair value	2,571	214
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	2,503	78
Corporate debt and other obligations
Securities owned
Securities owned, at fair value	24,448	20,665
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	11,683	7,236
Mortgage and other asset-backed securities
Securities owned
Securities owned, at fair value	2,292	2,486
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	1
Municipal obligations
Securities owned
Securities owned, at fair value	66,550	52,261
Convertible bonds
Securities owned
Securities owned, at fair value	28,796	31,270
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	16,216	9,709
Level 1
ASSETS
Cash equivalents		10,500
Deposits with clearing organizations	36,461	34,599
Securities owned
Securities owned, at fair value	496,088	686,242
Derivative contracts
Total	532,549	731,341
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	91,470	68,420
Derivative contracts:
Derivative contracts	322	811
Total	91,792	69,231
Level 1 | Corporate equities
Securities owned
Securities owned, at fair value	31,822	28,215
Level 1 | Equity Securities [Member]
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	17,450	14,774
Level 1 | Money markets
Securities owned
Securities owned, at fair value	363	7
Level 1 | Auction rate securities
Securities owned
Securities owned, at fair value	0
Level 1 | U.S. Treasury securities
Securities owned
Securities owned, at fair value	462,298	657,208
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	74,020	53,646
Level 1 | US Government Agencies Debt Securities [Member]
Securities owned
Securities owned, at fair value	1,605	812
Level 2
Securities owned
Securities owned, at fair value	157,106	129,643
Derivative contracts
Total	157,118	134,516
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	30,410	17,026
Derivative contracts:
Derivative contracts	1,015	5,969
Total	31,425	22,995
Level 2 | Equity Securities [Member]
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	0
Level 2 | Auction rate securities
Securities owned
Securities owned, at fair value	25,314	16,253
Level 2 | US Government Agencies Debt Securities [Member]
Securities owned
Securities owned, at fair value	7,135	6,494
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	7	3
Level 2 | Sovereign obligations
Securities owned
Securities owned, at fair value	2,571	214
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	2,503	78
Level 2 | Corporate debt and other obligations
Securities owned
Securities owned, at fair value	24,448	20,665
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	11,683	7,236
Level 2 | Mortgage and other asset-backed securities
Securities owned
Securities owned, at fair value	2,292	2,486
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	1
Level 2 | Municipal obligations
Securities owned
Securities owned, at fair value	66,550	52,261
Level 2 | Convertible bonds
Securities owned
Securities owned, at fair value	28,796	31,270
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	16,216	9,709
Level 3
Securities owned
Securities owned, at fair value	0	21,699
Derivative contracts
Total	0	21,800
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	0
Derivative contracts:
Derivative contracts	0	0
Total	0	0
Level 3 | Investments
Securities owned
Investments		101
Level 3 | Auction rate securities
Securities owned
Securities owned, at fair value	0	21,699
Level 3 | Municipal obligations
Securities owned
Securities owned, at fair value		0
Auction Rate Securities Purchase Commitment
Derivative contracts:
Derivative contracts	1,006	1,096
Auction Rate Securities Purchase Commitment | Level 2
Derivative contracts:
Derivative contracts	1,006	1,096
Auction Rate Securities Purchase Commitment | Level 3
Derivative contracts:
Derivative contracts	0	0
TBAs
Derivative contracts
Derivative contracts, total	12	4,873
Derivative contracts:
Derivative contracts	9	4,873
TBAs | Level 2
Derivative contracts
Derivative contracts, total	12	4,873
Derivative contracts:
Derivative contracts	9	4,873
Future [Member]
Derivative contracts:
Derivative contracts	322	807
Future [Member] | Level 1
Derivative contracts:
Derivative contracts	$ 322	807
Foreign exchange forward contracts
Derivative contracts:
Derivative contracts		4
Foreign exchange forward contracts | Level 1
Derivative contracts:
Derivative contracts		4
Foreign exchange forward contracts | Level 2
Derivative contracts:
Derivative contracts		$ 0

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance	$ 164	$ 101	$ 169
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	(5)	5
Purchases and Issuances			0
Sales and Settlements			0
Transfers In (Out)	60	106	60
Assets Ending Balance	104	0	104
Auction rate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance	72,621	21,699	87,398
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	2,163	(1)	2,218
Purchases and Issuances	(2,150)	0	(6,250)
Sales and Settlements	(34,925)	(350)	36,145
Transfers In (Out)	16,253	21,350	33,855
Assets Ending Balance	21,430	$ 0	21,430
Auction Rate Securities Purchase Commitment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases and Issuances	0		0
Sales and Settlements	0		0
Transfers In (Out)	(1,078)		(1,169)
Liabilities Beginning Balance	131		8
Total Realized and Unrealized Gains (Loss), Liabilities	(948)		(1,162)
Liabilities Ending Balance	1		1
Municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance			35
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings			(14)
Purchases and Issuances			(76)
Sales and Settlements			125
Transfers In (Out)			0
Assets Ending Balance	$ 0		$ 0

Fair Value Measurements - Ass_2

Fair Value Measurements - Assets and Liabilities Not Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Securities purchased under agreements to resell	$ 0	$ 290
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned	653,194	837,584
Fair Value, Nonrecurring [Member]
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Other	2,017	2,411
Receivable from customers	754,927	720,777
Fair Value, Estimate Not Practicable, Investment	68,919	59,765
Drafts payable	17,794	16,348
Clearing organizations	24,775	28,777
Securities loaned	209,298	146,815
Fair Value, Estimate not Practicable, Due from Employees	43,920	44,058
Total Receivable from brokers, dealers and clearing organizations	157,731	166,493
Securities failed to receive	13,228	27,799
Fair Value Estimate Not Practicable Payable to Correspondent Brokers	7,040	158
Bank call loans		15,000
Securities purchased under agreements to resell		290
Receivables from brokers	13,839	20,140
Securities failed to deliver	13,362	7,021
Securities borrowed	103,738	108,144
Deposits with clearing organization	37,269	33,079
Other	134,707	113,628
Total payables to brokers, dealers and clearing organizations	364,273	288,400
Payables to customers	313,056	336,616
Fair Value,Estimate not Practicable, Securities sold under Agreements to Repurchase	253,720	484,218
Fair Value, Estimate not Practicable, Senior Secured Notes	154,907	199,722
Fair Value, Estimate Not Practicable, Cash	26,193	80,175
Fair Value, Nonrecurring [Member] | Carrying Value [Member]
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Other	2,017	2,411
Receivable from customers	754,927	720,777
Fair Value, Estimate Not Practicable, Investment	68,919	59,765
Drafts payable	17,794	16,348
Clearing organizations	24,775	28,777
Securities loaned	209,298	146,815
Fair Value, Estimate not Practicable, Due from Employees	43,920	44,058
Total Receivable from brokers, dealers and clearing organizations	157,731	166,493
Securities failed to receive	13,228	27,799
Fair Value Estimate Not Practicable Payable to Correspondent Brokers	7,040	158
Bank call loans		15,000
Securities purchased under agreements to resell		290
Receivables from brokers	13,839	20,140
Securities failed to deliver	13,362	7,021
Securities borrowed	103,738	108,144
Deposits with clearing organization	37,269	33,079
Other	134,707	113,628
Total payables to brokers, dealers and clearing organizations	364,273	288,400
Payables to customers	313,056	336,616
Fair Value,Estimate not Practicable, Securities sold under Agreements to Repurchase	253,720	484,218
Fair Value, Estimate not Practicable, Senior Secured Notes	150,000	200,000
Fair Value, Estimate Not Practicable, Cash	26,193	80,175
Fair Value, Nonrecurring [Member] | Level 1
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Drafts payable	17,794	16,348
Deposits with clearing organization	37,269	33,079
Fair Value, Estimate Not Practicable, Cash	26,193	80,175
Fair Value, Nonrecurring [Member] | Level 2
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Other	2,017	2,411
Receivable from customers	754,927	720,777
Fair Value, Estimate Not Practicable, Investment	68,919	59,765
Clearing organizations	24,775	28,777
Securities loaned	209,298	146,815
Fair Value, Estimate not Practicable, Due from Employees	43,920	44,058
Total Receivable from brokers, dealers and clearing organizations	157,731	166,493
Securities failed to receive	13,228	27,799
Fair Value Estimate Not Practicable Payable to Correspondent Brokers	7,040	158
Bank call loans		15,000
Securities purchased under agreements to resell		290
Receivables from brokers	13,839	20,140
Securities failed to deliver	13,362	7,021
Securities borrowed	103,738	108,144
Other	134,707	113,628
Total payables to brokers, dealers and clearing organizations	364,273	288,400
Payables to customers	313,056	336,616
Fair Value,Estimate not Practicable, Securities sold under Agreements to Repurchase	253,720	484,218
Fair Value, Estimate not Practicable, Senior Secured Notes	$ 154,907	$ 199,722

Fair Value Measurements - Notio

Fair Value Measurements - Notional Amounts and Fair Values of Derivatives by Product (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	$ 15,742	$ 729,500
Derivatives asset, Fair Value	12	4,873
Derivative liability, notional	2,865,250	5,317,805
Derivative liability, Fair Value	1,337	6,780
To Be Announced Security [Member] | Other Contracts
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	15,742	729,500
Derivatives asset, Fair Value	12	4,873
Derivative liability, notional	12,240	729,500
Derivative liability, Fair Value	9	4,873
Future [Member] | Commodity Contracts
Derivatives, Fair Value [Line Items]
Derivative liability, notional	2,846,000	4,580,800	[1]
Derivative liability, Fair Value	322	807	[1]
Foreign exchange forward contracts | Other Contracts
Derivatives, Fair Value [Line Items]
Derivative liability, notional		200
Derivative liability, Fair Value		4
Auction Rate Securities Purchase Commitment | Other Contracts
Derivatives, Fair Value [Line Items]
Derivative liability, notional	7,010	7,305
Derivative liability, Fair Value	$ 1,006	$ 1,096
[1]	For both the three and nine months ended September 30, 2019, the diluted net income per share computation does not include the anti-dilutive effect of 7,628 shares of Class A Stock granted under share-based compensation arrangements (4,050 shares for both the three and nine months ended September 30, 2018).

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Amounts of Derivative Instruments and their Effect on Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	$ (689)	$ (307)	$ (3,089)	$ 1,168
Commodity Contracts | Principal Transaction Revenue | Future [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	(443)	413	(3,109)	1,764
Other Contracts | Principal Transaction Revenue | TBAs
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	(9)	73	(85)	269
Other Contracts | Principal Transaction Revenue | Auction Rate Securities Purchase Commitment
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	(242)	(857)	90	(1,071)
Other Contracts | Other Income [Member] | Other TBA Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)		62		209
Other Contracts | Other Income [Member] | Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	$ 5	$ 2	$ 15	$ (3)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Narrative) (Details) - USD ($)	9 Months Ended	116 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Auction Rate Securities Purchased as a Result of Settlements with Regulators		$ 140,200,000
Securities owned, at fair value	$ 653,194,000	653,194,000	$ 837,584,000
Forward or delayed delivery of the underlying instrument with settlement	180 days
Total amount of ARS the firm purchased and hold	$ 29,400,000	29,400,000
Auction Rate Securities Committed To Purchase related to settlements with regulators	3,400,000	3,400,000
Auction Rate Securities Purchased as a result of Legal Settlements and Awards		102,300,000
Auction Rate Securities Committed To Purchase as a Result of Legal Settlements and Awards	$ 3,600,000	3,600,000
ARS Securities Committed To Purchase Period	2020
Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value	$ 31,822,000	31,822,000	28,215,000
Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value	$ 25,314,000	$ 25,314,000	$ 37,952,000
Hedge Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment Redemption Notice Period Minimum	30 days
Investment Redemption Notice Period Maximum	120 days

Collateralized Transactions - S

Collateralized Transactions - Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Lending Transactions (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Reverse repurchase agreements
Gross Amounts of Recognized Assets	$ 91,473	$ 82,429
Gross Amounts Offset on the Balance Sheet	(91,473)	(82,139)
Net Amounts of Assets Presented on the Balance Sheet	0	290
Financial Instruments	0	0
Cash Collateral Received	0	0
Net Amount	0	290
Securities borrowed
Gross Amounts of Recognized Assets	103,738	108,144
Gross Amounts Offset on the Balance Sheet	0	0
Net Amounts of Assets Presented on the Balance Sheet	103,738	108,144
Financial Instruments	(100,188)	(105,960)
Cash Collateral Received	0	0
Net Amount	3,550	2,184
Total
Gross Amounts of Recognized Assets	195,211	190,573
Gross Amounts Offset on the Balance Sheet	(91,473)	(82,139)
Net Amounts of Assets Presented on the Balance Sheet	103,738	108,434
Financial Instruments	(100,188)	(105,960)
Cash Collateral Received	0	0
Net Amount	3,550	2,474
Repurchase agreements
Gross Amounts of Recognized Liabilities	345,193	566,357
Gross Amounts Offset on the Balance Sheet	(91,473)	(82,139)
Net Amounts of Liabilities Presented on the Balance Sheet	253,720	484,218
Financial Instruments	(252,401)	(480,322)
Cash Collateral Pledged	0	0
Net Amount	1,319	3,896
Securities loaned
Gross Amounts of Recognized Liabilities	209,298	146,815
Gross Amounts Offset on the Balance Sheet	0	0
Net Amounts of Liabilities Presented on the Balance Sheet	209,298	146,815
Financial Instruments	(203,747)	(139,232)
Cash Collateral Pledged	0	0
Net Amount	5,551	7,583
Total
Gross Amounts of Recognized Liabilities	554,491	713,172
Gross Amounts Offset on the Balance Sheet	(91,473)	(82,139)
Net Amounts of Liabilities Presented on the Balance Sheet	463,018	631,033
Financial Instruments	(456,148)	(619,554)
Cash Collateral Pledged	0	0
Net Amount	$ 6,870	$ 11,479

Collateralized Transactions - A

Collateralized Transactions - Additional Information (Narrative) (Details)	9 Months Ended
	Sep. 30, 2019USD ($)dealer	Dec. 31, 2018USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Gross Amounts of Recognized Liabilities	$ 345,193,000	$ 566,357,000
Gross Amounts of Recognized Liabilities	209,298,000	146,815,000
Bank call loans	0	15,000,000
Customer Securities for which Entity has Right to Sell or Repledge, Fair Value	995,000,000
Customer securities under customer margin loans agreement available to be repledged	185,000,000
Outstanding letters of credit	0
Amounts pledged	359,151,000	517,951,000
Carrying value of securities owned by the Company loaned or pledged	$ 0	20,200,000
Number of broker-dealers | dealer	4
Receivable from brokers and clearing organizations	$ 72,800,000
Securities Sold under Agreements to Repurchase, Asset	91,473,000	82,139,000
Securities Sold under Agreements to Repurchase, Amount Not Offset Against Collateral	253,720,000	484,218,000
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	252,401,000	480,322,000
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash	0	0
Securities Sold under Agreements to Repurchase, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election	1,319,000	3,896,000
Securities Loaned, Asset	0	0
Securities Loaned, Amount Not Offset Against Collateral	209,298,000	146,815,000
Securities Loaned, Collateral, Right to Reclaim Securities	203,747,000	139,232,000
Securities Loaned, Collateral, Right to Reclaim Cash	0	0
Securities Loaned, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election	5,551,000	7,583,000
Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned, Gross	554,491,000	713,172,000
Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned, Asset	91,473,000	82,139,000
Derivative Liability, Securities Sold under Agreements to Resell, Securities Loaned, Amount Not Offset Against Collateral	463,018,000	631,033,000
Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned, Collateral, Right to Reclaim Securities	456,148,000	619,554,000
Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned, Collateral, Right to Reclaim Cash	0	0
Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election	6,870,000	11,479,000
Reverse Repurchase Agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities received as collateral under securities borrowed transaction with market value	91,500,000	83,000,000
Securities Loaned [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Customer securities under customer margin loans agreement available to be repledged	17,300,000	27,600,000
Repurchase Agreements [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Customer securities under customer margin loans agreement available to be repledged	91,500,000	83,000,000
Securities Borrowed Transactions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities received as collateral under securities borrowed transaction with market value	100,800,000	$ 104,900,000
Maturity Overnight and on Demand [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities Loaned and Securities Sold under Agreement to Repurchase, Gross Including Not Subject to Master Netting Arrangement	$ 554,491,000
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of business days for related transactions	1 day
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of business days for related transactions	2 days
Options Clearing Corporation [Domain]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Customer securities under customer margin loans agreement available to be repledged	$ 259,900,000

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Total VIE Assets	$ 362,129	$ 298,654
Carrying Value of Variable Interest Assets	255	345
Capital Commitments	0	0
Maximum Exposure to Loss in Non- consolidated VIEs	255	345
Private Equity Funds
Variable Interest Entity [Line Items]
Total VIE Assets	7,454	7,454
Carrying Value of Variable Interest Assets	8	8
Carrying Value of Variable Interest Liabilities	0	0
Capital Commitments	0	0
Maximum Exposure to Loss in Non- consolidated VIEs	8	8
Hedge Funds [Member]
Variable Interest Entity [Line Items]
Total VIE Assets	354,675	291,200
Carrying Value of Variable Interest Assets	247	337
Carrying Value of Variable Interest Liabilities	0	0
Capital Commitments	0	0
Maximum Exposure to Loss in Non- consolidated VIEs	$ 247	$ 337

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 150,000	$ 200,000
Unamortized debt issuance expense	(533)	(904)
Long-term debt	$ 149,467	$ 199,096
Senior Secured Notes
Debt Instrument [Line Items]
Maturity Date	Jul. 1, 2022

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Narrative) (Details) - USD ($) $ in Thousands	Aug. 25, 2019	Jun. 23, 2017	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Sep. 19, 2017
Debt Instrument [Line Items]
Annual Interest Costs Reduction as a result of Debt Redemption	$ 3,800
Payment for Debt Extinguishment or Debt Prepayment Cost	1,700				$ 1,688	$ 0
Write off of Deferred Debt Issuance Cost			$ 200		184	0
Long-term Debt, Gross			150,000		150,000		$ 200,000
Debt Instrument, Increase, Accrued Interest			1,900
Long-term debt			149,467		149,467		$ 199,096
Repayments of Secured Debt	$ 50,000				50,000	0
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed	25.00%
6.75% Senior Secured Notes [Member] | Senior Secured Notes
Debt Instrument [Line Items]
Private placement date		Jun. 23, 2017
Debt Instrument, Face Amount		$ 200,000
Interest rate		6.75%
Debt Issuance Costs, Gross		$ 4,300
Interest expense on note			3,000	$ 3,400	9,800	$ 10,100
Debt Instrument, Issue Price Percentage		100.00%
Percentage of Notes Registered under the Securities Act of 1933								99.80%
8.75% Senior Secured Notes [Member] | Senior Secured Notes
Debt Instrument [Line Items]
Interest rate		8.75%
Extinguishment of Debt, Amount		$ 120,000
Oppenheimer [Member] | 6.75% Senior Secured Notes [Member] | Senior Secured Notes
Debt Instrument [Line Items]
Debt Issuance Costs, Gross		3,000
Third Party [Member] | 6.75% Senior Secured Notes [Member] | Senior Secured Notes
Debt Instrument [Line Items]
Debt Issuance Costs, Gross		$ 1,300
Maximum [Member] | 6.75% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Restrictive Covenants Exception for Dividend or Distribution Amount during fiscal year					20,000
Restrictive Covenants Exception for total Dividend Payment and other Restricted Payments			$ 10,000		$ 10,000

Share Capital - Changes in Numb

Share Capital - Changes in Number of Shares of Class A Stock Outstanding (Details) - Class A Stock - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Class A Stock outstanding, beginning of period	12,756,308	13,156,353	12,941,809	13,139,203
Issued pursuant to shared-based compensation plans	19,052	21,578	80,143	38,728
Repurchased and canceled pursuant to the stock buy-back	76,657	0	323,249	0
Class A Stock outstanding, end of period	12,698,703	13,177,931	12,698,703	13,177,931

Share Capital - Additional Info

Share Capital - Additional Information (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jul. 26, 2019	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Amounts pledged	$ 359,151		$ 359,151				$ 517,951
Preferred stock, authorized	50,000,000		50,000,000
Preferred stock, par value	$ 0.001		$ 0.001
Preferred stock, issued	0		0
Class A Stock
Class of Stock [Line Items]
Common stock, authorized	50,000,000		50,000,000				50,000,000
Common stock, par value	$ 0.001		$ 0.001				$ 0.001
Common Stock, outstanding	12,698,703	13,177,931	12,698,703	13,177,931	12,756,308	12,756,308	12,941,809	13,156,353	13,139,203
Common Stock, Shares, Issued	12,698,703		12,698,703				12,941,809
Repurchase and cancelled stock	76,657	0	323,249	0
Class B Stock
Class of Stock [Line Items]
Common stock, authorized	99,665		99,665				99,665
Common stock, par value	$ 0.001		$ 0.001				$ 0.001
Common Stock, outstanding	99,665		99,665				99,665
Common Stock, Shares, Issued	99,665		99,665				99,665
Previous Program [Member] | Class A Stock
Class of Stock [Line Items]
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased						26,192
New Program [Member] | Class A Stock
Class of Stock [Line Items]
Repurchase of class A common stock					640,000
Stock Repurchase Program Percentage Of Shares Repurchase Of Outstanding Share					5.00%
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	589,535		589,535		666,192
Repurchase and cancelled stock	76,657		323,249
Treasury Stock, Retired, Cost Method, Amount	$ 2,000		$ 8,400
Treasury Stock Acquired, Average Cost Per Share	$ 26.71		$ 25.99

Commitments and Contingencies N

Commitments and Contingencies Narrative (Details) $ in Millions	Sep. 30, 2019USD ($)
Loss Contingencies [Line Items]
Auction Rate Securities Committed To Purchase related to settlements with regulators	$ 3.4
Auction Rate Securities Committed To Purchase as a Result of Legal Settlements and Awards	3.6
Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss, Portion Not Accrued	0
Maximum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss, Portion Not Accrued	$ 3

Regulatory Requirements - Addit

Regulatory Requirements - Additional Information (Narrative) (Details)	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019EUR (€)
Regulatory Capital Requirements [Line Items]
Net capital	$ 783,448
Excess Liquid Capital under Hong Kong SFC Rules	400,748
Oppenheimer [Member]
Regulatory Capital Requirements [Line Items]
Required percentage of net capital to aggregate customer-related debit items	0.02
Net Capital	$ 230,800,000
Aggregate indebtedness	28.86%
Excess capital	$ 214,800,000
Freedom
Regulatory Capital Requirements [Line Items]
Net Capital	$ 5,100,000
Aggregate indebtedness	6.67%
Freedom maintain net capital equal to the greater	$ 100,000
Net capital in excess of minimum required	$ 5,000,000
Oppenheimer Europe Ltd
Regulatory Capital Requirements [Line Items]
Common Equity Tier 1 Ratio	14.56%	14.56%
Common Equity Tier 1 Ratio Required	4.50%	4.50%
Tier 1 Capital Ratio	14.56%	14.56%
Tier 1 Capital Ratio Required	6.00%	6.00%
Total Capital Ratio	14.60%	14.60%
Total Capital Ratio Required	8.00%	8.00%
Regulatory capital required to be maintained | €		€ 730,000
Oppenheimer Investments Asia Ltd.
Regulatory Capital Requirements [Line Items]
Regulatory capital required to be maintained	$ 382,700

Segment Information - Reported

Segment Information - Reported Revenue and Profit Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue
Total revenue	$ (234,793)	$ (237,814)	$ (737,498)	$ (714,900)
Income (loss) before income taxes
Operating Income (Loss)	6,496	7,154	39,939	29,292
Private Client Division
Revenue
Total revenue	(152,054)	(158,083)	(477,509)	(468,730)
Income (loss) before income taxes
Income before income taxes	$ 35,251	37,608	121,501	111,283
Asset management fees	90.00%
Asset Management
Revenue
Total revenue	$ (18,368)	(17,870)	(53,576)	(53,220)
Income (loss) before income taxes
Income before income taxes	$ 4,932	4,127	12,492	11,803
Asset management fees	10.00%
Capital markets
Revenue
Total revenue	$ (64,068)	(68,130)	(206,848)	(197,865)
Income (loss) before income taxes
Income before income taxes	(6,385)	(2,076)	(10,833)	(8,332)
Corporate/Other
Revenue
Total revenue	(303)	6,269	435	4,915
Income (loss) before income taxes
Income before income taxes	$ (27,302)	$ (32,505)	$ (83,221)	$ (85,462)

Segment Information - Revenue C

Segment Information - Revenue Classified by Major Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 234,793	$ 237,814	$ 737,498	$ 714,900
Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	227,001	230,486	712,864	690,569
Europe/Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	7,257	6,500	22,592	21,245
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 535	$ 828	$ 2,042	$ 3,086

Subsequent Events - Additional

Subsequent Events - Additional Information (Narrative) (Details) - Subsequent Event [Member] - $ / shares	Nov. 22, 2019	Nov. 08, 2019	Oct. 25, 2019
Subsequent Events [Line Items]
Date of announcement of dividend			Oct. 25, 2019
Date of payment of dividend	Nov. 22, 2019
Date of record of dividend		Nov. 8, 2019
Class A Stock
Subsequent Events [Line Items]
Quarterly dividend payable amount per share			$ 0.12
Class B Stock
Subsequent Events [Line Items]
Quarterly dividend payable amount per share			$ 0.12

Supplemental Guarantor Condense

Supplemental Guarantor Condensed Consolidated Financial Statements - Additional Information (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Jun. 23, 2017
Condensed Consolidated financial statements [Line Items]
Interest owned by the holding company	100.00%
Secured Debt [Member] | 6.75% Senior Secured Notes [Member]
Condensed Consolidated financial statements [Line Items]
Debt Instrument, Face Amount		$ 200

Supplemental Guarantor Conden_2

Supplemental Guarantor Condensed Consolidated Financial Statements - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 26,193	$ 90,675	$ 37,531	$ 48,154
Deposits with clearing organizations	73,730	67,678
Receivable from brokers, dealers and clearing organizations	157,734	166,493
Receivable from customers, net of allowance for credit losses of $941 ($886 in 2018)	754,927	720,777
Income tax receivable	2,333	1,014
Securities purchased under agreements to resell	0	290
Securities owned, at fair value	653,194	837,584
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $35,373 and $3,886 respectively ($25,109 and $6,800, respectively, in 2018)	43,920	44,058
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	32,085	28,988
Operating Lease, Right-of-Use Asset	164,899	0
Subordinated loan receivable	0	0
Intangible assets	32,100	32,100
Goodwill	137,889	137,889
Other assets	124,484	112,768
Deferred tax assets	0	0
Investment in subsidiaries	0	0
Intercompany receivables	0	0
Total assets	2,203,488	2,240,314
Liabilities
Drafts payable	17,794	16,348
Bank call loans	0	15,000
Payable to brokers, dealers and clearing organizations	364,595	289,207
Payable to customers	313,056	336,616
Securities sold under agreements to repurchase	253,720	484,218
Securities sold but not yet purchased, at fair value	121,880	85,446
Accrued compensation	149,862	167,348
Accounts payable and other liabilities	43,234	87,630
Operating Lease, Liability	208,748	0
Income tax payable	0	0
Senior secured notes, net of debt issuance costs of $533 ($904 in 2018)	149,467	199,096
Subordinated indebtedness	0	0
Deferred tax liabilities, net	14,505	14,083
Intercompany payables	0	0
Total liabilities	1,636,861	1,694,992
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	566,627	545,322
Total liabilities and stockholders' equity	2,203,488	2,240,314
Allowance for credit losses	941	886
Amounts pledged	359,151	517,951
Notes Receivable, Net Accumulated Amortization	35,373	25,109
Notes Receivable, Net Allowance for Uncollectibles	3,886	6,800
Net accumulated depreciation	92,690	89,182
Unamortized debt issuance expense	533	904
Eliminations
ASSETS
Cash and cash equivalents	0	0	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 $941 ($886 in 2018)	0	0
Income tax receivable	(62,488)	(67,508)
Securities purchased under agreements to resell		0
Securities owned, at fair value	0	0
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $35,373 and $3,886 respectively ($25,109 and $6,800, respectively, in 2018)	0	0
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	0	0
Operating Lease, Right-of-Use Asset	0
Subordinated loan receivable	(112,558)	(112,558)
Intangible assets	0	0
Goodwill	0	0
Other assets	(10,931)	0
Deferred tax assets	(19,086)	(18,950)
Investment in subsidiaries	(1,478,582)	(1,208,541)
Intercompany receivables	(60,417)	(26,330)
Total assets	(1,744,062)	(1,433,887)
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	(10,940)	(9)
Operating Lease, Liability	2
Income tax payable	(62,529)	(67,507)
Senior secured notes, net of debt issuance costs of $533 ($904 in 2018)	0	0
Subordinated indebtedness	(112,558)	(112,558)
Deferred tax liabilities, net	(19,041)	(18,946)
Intercompany payables	(27,727)	(26,334)
Total liabilities	(232,793)	(225,354)
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	(1,511,269)	(1,208,533)
Total liabilities and stockholders' equity	(1,744,062)	(1,433,887)
Parent | Reportable Legal Entities
ASSETS
Cash and cash equivalents	4,785	53,525
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 $941 ($886 in 2018)	0	0
Income tax receivable	49,333	45,733
Securities purchased under agreements to resell		0
Securities owned, at fair value	0	0
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $35,373 and $3,886 respectively ($25,109 and $6,800, respectively, in 2018)	0	0
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	0	0
Operating Lease, Right-of-Use Asset	0
Subordinated loan receivable	0	0
Intangible assets	0	0
Goodwill	0	0
Other assets	154	135
Deferred tax assets	103	1
Investment in subsidiaries	692,030	661,837
Intercompany receivables	0	(14,211)
Total assets	746,405	747,020
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	2,584	163
Operating Lease, Liability	0
Income tax payable	0	2,440
Senior secured notes, net of debt issuance costs of $533 ($904 in 2018)	149,467	199,096
Subordinated indebtedness	0	0
Deferred tax liabilities, net	0	0
Intercompany payables	27,727	0
Total liabilities	179,778	201,699
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	566,627	545,322
Total liabilities and stockholders' equity	746,405	747,021
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	534	3,826	4,653	3,716
Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Cash and cash equivalents	534	3,826
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 $941 ($886 in 2018)	0	0
Income tax receivable	15,488	23,491
Securities purchased under agreements to resell		0
Securities owned, at fair value	1,327	1,358
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $35,373 and $3,886 respectively ($25,109 and $6,800, respectively, in 2018)	0	0
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	23,097	20,722
Operating Lease, Right-of-Use Asset	158,793
Subordinated loan receivable	112,558	112,558
Intangible assets	400	400
Goodwill	0	0
Other assets	12,612	2,581
Deferred tax assets	7,020	455
Investment in subsidiaries	761,924	546,704
Intercompany receivables	46,325	46,840
Total assets	1,140,078	758,935
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	90	31,653
Operating Lease, Liability	202,121
Income tax payable	40	22,189
Senior secured notes, net of debt issuance costs of $533 ($904 in 2018)	0	0
Subordinated indebtedness	0	0
Deferred tax liabilities, net	0	0
Intercompany payables	0	26,334
Total liabilities	202,251	80,176
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	937,827	678,759
Total liabilities and stockholders' equity	1,140,078	758,935
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	20,874	33,324	$ 32,399	$ 36,996
Non-Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Cash and cash equivalents	20,874	33,324
Deposits with clearing organizations	73,730	67,678
Receivable from brokers, dealers and clearing organizations	157,734	166,493
Receivable from customers, net of allowance for credit losses of $941 ($886 in 2018)	754,927	720,777
Income tax receivable	0	(702)
Securities purchased under agreements to resell		290
Securities owned, at fair value	651,867	836,226
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $35,373 and $3,886 respectively ($25,109 and $6,800, respectively, in 2018)	43,920	44,058
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	8,988	8,266
Operating Lease, Right-of-Use Asset	6,106
Subordinated loan receivable	0	0
Intangible assets	31,700	31,700
Goodwill	137,889	137,889
Other assets	122,649	110,052
Deferred tax assets	11,963	18,494
Investment in subsidiaries	24,628	0
Intercompany receivables	14,092	(6,299)
Total assets	2,061,067	2,168,246
Liabilities
Drafts payable	17,794	16,348
Bank call loans	0	15,000
Payable to brokers, dealers and clearing organizations	364,595	289,207
Payable to customers	313,056	336,616
Securities sold under agreements to repurchase	253,720	484,218
Securities sold but not yet purchased, at fair value	121,880	85,446
Accrued compensation	149,862	167,348
Accounts payable and other liabilities	51,500	55,823
Operating Lease, Liability	6,625
Income tax payable	62,489	42,878
Senior secured notes, net of debt issuance costs of $533 ($904 in 2018)	0	0
Subordinated indebtedness	112,558	112,558
Deferred tax liabilities, net	33,546	33,029
Intercompany payables	0	0
Total liabilities	1,487,625	1,638,471
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	573,442	529,774
Total liabilities and stockholders' equity	$ 2,061,067	$ 2,168,245

Supplemental Guarantor Conden_3

Supplemental Guarantor Condensed Consolidated Financial Statements - Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
REVENUES
Commissions	$ 78,627	$ 79,678	$ 238,932	$ 245,935
Investment Advisory Fee Revenue	80,887	78,154	235,241	232,972
Investment banking	21,798	28,328	81,847	84,442
Sweep Interest Income from FDIC-Insured Bank Deposits	28,894	30,053	94,692	84,203
Interest	12,344	13,403	38,621	38,686
Principal transactions, net	7,606	(16)	22,089	9,110
Other	4,637	8,214	26,076	19,552
Total revenue	234,793	237,814	737,498	714,900
EXPENSES
Compensation and related expenses	151,284	152,846	467,422	457,821
Communications and technology	20,872	18,602	61,457	55,287
Occupancy and equipment costs	16,010	15,106	46,856	45,435
Clearing and exchange fees	5,469	5,378	16,479	17,254
Interest	11,531	12,915	37,709	32,787
Other	23,131	25,813	67,636	77,024
Total expenses	228,297	230,660	697,559	685,608
Operating Income (Loss)	6,496	7,154	39,939	29,292
Income Tax Expense (Benefit)	2,547	2,083	12,421	8,661
Net Income (Loss) before equity in Earnings of Subsidiaries	3,949	5,071	27,518	20,631
Equity in earnings of subsidiaries	0	0	0	0
Net income attributable to Oppenheimer Holdings Inc.	3,949	5,071	27,518	20,631
Other comprehensive income	533	99	1,457	(880)
Comprehensive income	4,482	5,170	28,975	19,751
Eliminations
REVENUES
Commissions	0	0	0	0
Investment Advisory Fee Revenue	(342)	(336)	(1,037)	(981)
Investment banking	0	0	0	0
Sweep Interest Income from FDIC-Insured Bank Deposits	0	3	0	0
Interest	(2,073)	0	(6,220)	(6,233)
Principal transactions, net	54	(2,076)	(12)	(39)
Other	(1)	(153)	1	(342)
Total revenue	(2,362)	(2,562)	(7,268)	(7,595)
EXPENSES
Compensation and related expenses	(1)	0	(6)	0
Communications and technology	0	0	0	0
Occupancy and equipment costs	0	(153)	2	(342)
Clearing and exchange fees	54	0	0	0
Interest	(2,073)	(2,076)	(6,220)	(6,233)
Other	(342)	(333)	(1,044)	(1,020)
Total expenses	(2,362)	(2,562)	(7,268)	(7,595)
Operating Income (Loss)	0	0	0	0
Income Tax Expense (Benefit)	0	0	0	0
Net Income (Loss) before equity in Earnings of Subsidiaries	0	0	0	0
Equity in earnings of subsidiaries	(14,403)	(14,662)	(70,401)	(55,692)
Net income attributable to Oppenheimer Holdings Inc.	(14,403)	(14,662)	(70,401)	(55,692)
Other comprehensive income	0	0	0	0
Comprehensive income	(14,403)	(14,662)	(70,401)	(55,692)
Parent
REVENUES
Commissions	0	0	0	0
Investment Advisory Fee Revenue	0	0	0	0
Investment banking	0	0	0	0
Sweep Interest Income from FDIC-Insured Bank Deposits	0	0	0	0
Interest	59	0	234	4
Principal transactions, net	0	1	0	0
Other	3	0	3	0
Total revenue	62	1	237	4
EXPENSES
Compensation and related expenses	273	343	1,098	1,191
Communications and technology	39	35	130	123
Occupancy and equipment costs	0	0	0	0
Clearing and exchange fees	0	0	0	0
Interest	3,038	3,375	9,788	10,125
Other	2,087	218	2,637	883
Total expenses	5,437	3,971	13,653	12,322
Operating Income (Loss)	(5,375)	(3,970)	(13,416)	(12,318)
Income Tax Expense (Benefit)	(1,364)	(976)	(3,702)	(3,081)
Net Income (Loss) before equity in Earnings of Subsidiaries	(4,011)	(2,994)	(9,714)	(9,237)
Equity in earnings of subsidiaries	7,960	8,065	37,232	29,868
Net income attributable to Oppenheimer Holdings Inc.	3,949	5,071	27,518	20,631
Other comprehensive income	0	0	0	0
Comprehensive income	3,949	5,071	27,518	20,631
Guarantor Subsidiaries
REVENUES
Commissions	0	0	0	0
Investment Advisory Fee Revenue	0	0	0	0
Investment banking	0	0	0	0
Sweep Interest Income from FDIC-Insured Bank Deposits	0	0	0	0
Interest	2,059	0	6,181	6,183
Principal transactions, net	(34)	2,063	121	0
Other	0	154	2	345
Total revenue	2,025	2,217	6,304	6,528
EXPENSES
Compensation and related expenses	0	0	0	0
Communications and technology	0	0	0	0
Occupancy and equipment costs	0	0	(1)	0
Clearing and exchange fees	(54)	0	0	0
Interest	0	0	0	0
Other	4	270	248	1,372
Total expenses	(50)	270	247	1,372
Operating Income (Loss)	2,075	1,947	6,057	5,156
Income Tax Expense (Benefit)	558	479	1,994	1,112
Net Income (Loss) before equity in Earnings of Subsidiaries	1,517	1,468	4,063	4,044
Equity in earnings of subsidiaries	6,443	6,597	33,169	25,824
Net income attributable to Oppenheimer Holdings Inc.	7,960	8,065	37,232	29,868
Other comprehensive income	0	0	0	0
Comprehensive income	7,960	8,065	37,232	29,868
Non-Guarantor Subsidiaries
REVENUES
Commissions	78,627	79,678	238,932	245,935
Investment Advisory Fee Revenue	81,229	78,490	236,278	233,953
Investment banking	21,798	28,328	81,847	84,442
Sweep Interest Income from FDIC-Insured Bank Deposits	28,894	(19)	94,692	84,203
Interest	12,299	30,053	38,426	38,732
Principal transactions, net	7,586	13,415	21,980	9,149
Other	4,635	8,213	26,070	19,549
Total revenue	235,068	238,158	738,225	715,963
EXPENSES
Compensation and related expenses	151,012	152,503	466,330	456,630
Communications and technology	20,833	18,567	61,327	55,164
Occupancy and equipment costs	16,010	15,259	46,855	45,777
Clearing and exchange fees	5,469	5,378	16,479	17,254
Interest	10,566	11,616	34,141	28,895
Other	21,382	25,658	65,795	75,789
Total expenses	225,272	228,981	690,927	679,509
Operating Income (Loss)	9,796	9,177	47,298	36,454
Income Tax Expense (Benefit)	3,353	2,580	14,129	10,630
Net Income (Loss) before equity in Earnings of Subsidiaries	6,443	6,597	33,169	25,824
Equity in earnings of subsidiaries	0	0	0	0
Net income attributable to Oppenheimer Holdings Inc.	6,443	6,597	33,169	25,824
Other comprehensive income	533	99	1,457	(880)
Comprehensive income	$ 6,976	$ 6,696	$ 34,626	$ 24,944

Supplemental Guarantor Conden_4

Supplemental Guarantor Condensed Consolidated Financial Statements - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	Aug. 25, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Condensed Financial Statements, Captions [Line Items]
Proceeds from Issuance of Common Stock		$ 83	$ 70	$ 83	$ 70
Cash flows from operations:
Cash provided by (used in) operating activities				22,897	118,279
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements				(8,672)	(6,654)
Cash used in investing activities				(6,952)	(6,770)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock				(4,408)	(4,373)
Payments for Repurchase of Common Stock				(8,400)	0
Repayments of Senior Debt				(50,000)
Payment for Debt Extinguishment or Debt Prepayment Cost	$ (1,700)			(1,688)	0
Payments for employee taxes withheld related to vested share-based awards				(1,014)	(2,529)
Redemption of senior secured notes				(15,000)	(115,300)
Cash provided by (used in) financing activities				(80,427)	(122,132)
Net decrease in cash and cash equivalents				(64,482)	(10,623)
Cash and cash equivalents, beginning of period				90,675	48,154
Cash and cash equivalents, end of period		26,193	37,531	26,193	37,531
Payments to Acquire Intangible Assets				0	400
Proceeds from Insurance Settlement, Investing Activities				1,720	284
Eliminations
Condensed Financial Statements, Captions [Line Items]
Proceeds from Issuance of Common Stock			0
Cash flows from operations:
Cash provided by (used in) operating activities				0	0
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements				0	0
Cash used in investing activities				0	0
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock				0	0
Payments for Repurchase of Common Stock				0
Repayments of Senior Debt				0
Payment for Debt Extinguishment or Debt Prepayment Cost				0
Payments for employee taxes withheld related to vested share-based awards				0	0
Redemption of senior secured notes				0	0
Cash provided by (used in) financing activities				0	0
Net decrease in cash and cash equivalents				0	0
Cash and cash equivalents, beginning of period				0	0
Cash and cash equivalents, end of period		0	0	0	0
Payments to Acquire Intangible Assets					0
Proceeds from Insurance Settlement, Investing Activities				0	0
Parent
Condensed Financial Statements, Captions [Line Items]
Proceeds from Issuance of Common Stock		83	70
Cash flows from operations:
Cash provided by (used in) operating activities				16,687	(131)
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements				0	0
Cash used in investing activities				0	0
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock				(4,408)	(4,373)
Payments for Repurchase of Common Stock				(8,400)
Repayments of Senior Debt				(50,000)
Payment for Debt Extinguishment or Debt Prepayment Cost				(1,688)
Payments for employee taxes withheld related to vested share-based awards				(1,014)	(2,529)
Redemption of senior secured notes				0	0
Cash provided by (used in) financing activities				(65,427)	(6,832)
Net decrease in cash and cash equivalents				(48,740)	(6,963)
Cash and cash equivalents, beginning of period				53,525	7,442
Cash and cash equivalents, end of period		4,785	479	4,785	479
Payments to Acquire Intangible Assets					0
Proceeds from Insurance Settlement, Investing Activities				0	0
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Proceeds from Issuance of Common Stock			0
Cash flows from operations:
Cash provided by (used in) operating activities				(3,292)	1,337
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements				0	0
Cash used in investing activities				0	(400)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock				0	0
Payments for Repurchase of Common Stock				0
Payment for Debt Extinguishment or Debt Prepayment Cost				0
Payments for employee taxes withheld related to vested share-based awards				0	0
Redemption of senior secured notes				0	0
Cash provided by (used in) financing activities				0	0
Net decrease in cash and cash equivalents				(3,292)	937
Cash and cash equivalents, beginning of period				3,826	3,716
Cash and cash equivalents, end of period		534	4,653	534	4,653
Payments to Acquire Intangible Assets					400
Proceeds from Insurance Settlement, Investing Activities				0	0
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Proceeds from Issuance of Common Stock			0
Cash flows from operations:
Cash provided by (used in) operating activities				9,502	117,073
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements				(8,672)	(6,654)
Cash used in investing activities				(6,952)	(6,370)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock				0	0
Payments for Repurchase of Common Stock				0
Payment for Debt Extinguishment or Debt Prepayment Cost				0
Payments for employee taxes withheld related to vested share-based awards				0	0
Redemption of senior secured notes				(15,000)	(115,300)
Cash provided by (used in) financing activities				(15,000)	(115,300)
Net decrease in cash and cash equivalents				(12,450)	(4,597)
Cash and cash equivalents, beginning of period				33,324	36,996
Cash and cash equivalents, end of period		$ 20,874	$ 32,399	20,874	32,399
Payments to Acquire Intangible Assets					0
Proceeds from Insurance Settlement, Investing Activities				$ 1,720	$ 284