Nearly half of the brokers – including the four wire houses – contacted by FA-IQ are in various stages of reopening and with varying policies on vaccination and mask warrants.
The others either declined to share their current plans to return to the office or were unwilling to reveal them at this point.
[Editor’s Note: Scroll down for table of responses.]
Advisors to Goldman Sachs have been back in the office since June 10 and the cabinet is asking them to disclose their immunization status, a spokesperson said.
For those who are not vaccinated, masks should be worn in the office and Covid-19 tests are required weekly.
RBC Wealth Management has had employees in the office on a voluntary basis since Sept. 7 and is expected to undergo a full return on Oct. 4, according to a spokesperson.
The firm encourages vaccines and / or masks, but these are not requirements, adds the spokesperson.
“The health and safety of our employees and customers is our top priority,” wrote a spokesperson for RBC Wealth in an email. “RBC is currently strongly encouraging vaccinations where possible for our employees, while also requiring employees to wear masks and maintain physical distances in accordance with local guidelines. “
As the pandemic evolves, RBC Heritage will continue to monitor public health and government guidance as well as developments related to the virus and its variants, according to the spokesperson.
Raymond JamesThe office has been opened to employees who wish to enter voluntarily, and a full reopening is not expected until October 11 at the earliest, according to a spokesperson.
This is an adjustment from a previous plan for Raymond James employees to return to the office on September 13. In a letter to Raymond James partners and advisors in July, the President and CEO Paul reilly wrote that the company was anticipating the September date but would make the necessary adjustments in light of the pandemic and adopt more flexible working arrangements.
“As we continue to monitor the reports from health officials and recognize how quickly things can change, I am delighted to say that we are ready to go back to the office, to be together again,” Reilly wrote in July.
Stifel Financial leaves specific return-to-office dates at local branches, and unvaccinated employees are required to wear masks, according to a spokesperson.
Stifel has taken a localized approach to dealing with issues related to Covid-19, which “has worked well throughout the various stages of the pandemic,” a spokesperson for Stifel wrote in an email. “The health and safety of our employees guides our policies and we understand the need for flexibility as conditions change”
The company balances the safety of its employees with the belief that work and collaboration in person is important.
“In general, there is no doubt for us about the importance of being physically together. The benefits are clear – in training, collaboration, innovation, networking and more, ”said the spokesperson.
LPL Financial employees will return to the office “when the time is right,” according to a spokesperson. The firm is closely monitoring the pandemic, including the spread of the delta variant, the spokesperson notes.
“[W]We continue to seek advice from health and government agencies, as well as key medical professionals, ”the spokesperson wrote in an email. “We will take a thoughtful and phased approach to getting employees back to the office when the time is right. “
spokesperson for Ameriprise Financial, Group of advisers, Cetera Financial Group, Commonwealth Financial Network, Edward jones, Janney Montgomery Scott, JP Morgan declined to comment or did not respond to requests for information.
JPMorgan has turned the tide by allowing employees vaccinated against Covid-19 to be in the office without wearing a mask.
“If you are fully vaccinated, you are required to wear a mask in all common areas of our buildings, including when moving between offices / moving on the floor, in elevators and in pantries, cafes, halls, etc. Jamie Dimon and the rest of JPMorgan’s operating committee wrote in the memo reported by Bloomberg earlier this month. “You can remove your mask in conference rooms or in your workspace where you can socially distance yourself. “
Among the spinning mills, Wells fargo recently pushed back his planned return to power date from September to early October. The firm is encouraging but does not require vaccines and will require masking in all of its locations.
Merrill Lynch asks employees to come back to the office after Labor Day. The company does not require vaccines but encourages employees to obtain them and inform the company of their status. Merrill employees will also be required to wear masks in the office, except at their desks.
Morgan stanley requires vaccines for employees at its New York and Westchester, New York offices, where many of its employees are based, though policies vary elsewhere. In offices where vaccines are mandatory, it will not require a mask. The company also doesn’t impose a return-to-work deadline, although the CEO James gorman urged employees to return if they can.
UBS did not respond to a request for comment on its policies. CEO Ralph Hamer wrote in Time magazine earlier this month that the financial services industry must embrace hybrid working arrangements because clients, not just staff, are ready for a transition.
How Brokers Deal With Their Return To The Office Source: Firms Date Returned To Office Vaccine Mandate Mask Mandate Advisor Group No Comments No Comments No Comments Ameriprise Financial No Comments No Comments No Comments Cetera Financial Group Refused to comment Refused to comment Refused to comment Commonwealth Financial Network Declined to comment Declined to comment Declined to comment Edward Jones Declined to comment Declined to comment Declined to comment Goldman Sachs As of June 10 Employees must disclose their immunization status Yes for unvaccinated employees; Weekly Covid testing also required Janney Montgomery Scott No comment No comment No comment JPMorgan No comment No comment No comment; yes except in workspaces and conference rooms, according to memo reported by Bloomberg LPL Financial When the time is right Declined to comment Declined to comment Merrill Lynch After Labor Day No Yes except in Morgan Stanley office No fixed date Yes in New York and Westchester, the New York offices, which have a majority of employees; policies vary elsewhere No Raymond James Volunteer now, full return by October 11 at the earliest Refused to comment Refused to comment RBC Wealth Management Volunteer since September 7, full return on October 4 No No Stifel Financial decision left to local branches No mandate vaccination; no comment on whether employees should disclose their immunization status Yes for unvaccinated UBS employees No comment No comment No comment Wells Fargo Early October No Yes
Editor’s Note: Story updated at 1 p.m. ET
In LinkedIn earlier Friday, RBC President and CEO Dave mckay wrote that the bank requires employees to be vaccinated before returning to the office.
“We believe vaccines are the best way to keep our workplaces safe and to help our communities reduce the spread of COVID-19 variants such as Delta. This is why RBC will require that all employees be fully vaccinated to work in any of our premises, in areas where we are authorized to do so, ”he wrote on the post.
“This effort will begin in Canada and the United States, where those who can be fully immunized will have to do so by October 31,” he added.
RBC will continue to monitor evolving government and public health guidelines and adjust its health and safety policies as necessary, according to McKay.
“Nothing is more important than the health and well-being of our clients, colleagues and communities,” he wrote on the post.
– With additional reporting from Peter Rawlings
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