Oppenheimer Adds Block of Ex-Stanford Advisers

March 13, 2009 (PLANSPONSOR.com) - Oppenheimer & Co. is opening new branches in four states and expanding existing branch sites in the four states and Texas with financial advisers formerly associated with the Stanford Group.

According to a news release, the new offices will be in Florida, North Carolina, Tennessee, and Virginia.

The announcement said that the company had met with the advisers formerly connected to Stanford (See  Another Billion-Dollar Investment Advisory Fraud Unfolds ) and decided to move ahead with bringing them to Oppenheimer.

“After reviewing available information and meeting with these advisers, Oppenheimer has concluded that those financial advisers to whom it made offers of employment run solid and diversified practices and cater to the type of affluent client that are the hallmark of our firm,” Oppenheimer said in the news release. “These individuals have had extensive experience in the securities industry and, prior to moving to Stanford, were previously associated with well recognized securities firms.”