Core Viewpoint - Oppenheimer reported strong financial results for Q2 2025, with significant growth in revenue and net income, driven by Capital Markets and Wealth Management performance [1][5]. Financial Performance - Revenue increased by 12.9% to $373.2 million in Q2 2025 compared to $330.6 million in Q2 2024 [2]. - Net income more than doubled to $21.7 million in Q2 2025, with pre-tax income at $32.2 million, up 103% year-over-year [2][5]. - Diluted EPS rose to $1.91 from $0.92, marking a 107.6% increase [2]. Segment Performance - Wealth Management revenue grew by 5.1% to $246.4 million, while Capital Markets revenue surged by 33.6% to $123.0 million [2]. - Capital Markets experienced a significant turnaround, with advisory fees up 83.0% and sales and trading revenue improving [8]. - Despite revenue growth, Wealth Management pre-tax income declined by 2.2%, indicating margin pressure [7]. Strategic Focus - The company is focused on growing asset-based revenues and expanding its middle-market investment banking franchise [4]. - Key success factors include attracting high-net-worth clients, maintaining stable regulatory capital, and controlling costs [4]. Market Dynamics - The growth in client holdings was primarily market-driven, with a net distribution outpacing new deposits by $3.6 billion [6]. - Regulatory net capital at the broker-dealer unit decreased to $408.9 million from $460.7 million in Q2 2024 [9]. Dividend and Shareholder Value - A quarterly dividend of $0.18 per share was declared, consistent with the previous period [10]. - Book value per share reached a new high of $85.27, reflecting stronger earnings and capital position [10]. Future Outlook - Management expressed optimism for continued deal flow if market conditions stabilize, although no numerical guidance was provided for the remainder of fiscal 2025 [11]. - Investors should monitor trends in organic asset growth, rising compensation ratios, and adviser retention [12].