Morgan Stanley Wealth Management is tightening its return-to-office policy, requiring its 15,000 financial advisors to be in the office at least four days per week starting May 5.

As reported by AdvisorHub, the move comes as many advisors, accustomed to greater flexibility, consider their options. A veteran advisor and an external recruiter predicted that some advisors may leave for independent firms that offer more remote work opportunities. A Morgan Stanley spokesperson declined to comment on the policy shift.

Wall Street firms have been gradually pulling advisors back to the office. In 2022, Morgan Stanley capped remote work at 90 days per year without an exception. Merrill Lynch followed in 2023, requiring advisors to work in the office at least three days per week unless they registered an alternate location. According to AdvisorHub, the push aligns with broader corporate trends, including federal return-to-office mandates and JPMorgan Chase CEO Jamie Dimon's firm stance on in-person work despite employee resistance.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.