“We do not yet know when we’ll return to a more traditional operating model,” a spokeswoman said.

The pandemic and work-from-home arrangements are probably spurring larger budgets.

As anxious as they may be to take advantage of the opportunity, there are pitfalls and hidden costs, advisors warn.

Democrats Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii have sent a letter to CEO Charlie Scharf demanding a response to news reports that the bank has been placing borrowers into forbearance plans without their consent.

If approved, the firm would be able to issue its own ETFs, although they haven’t registered any individual funds yet.

Three of the quartet join the South Dakota office, while the fourth is in Washington state.

Mike Santomassimo is succeeding John Shrewsberry, who has held the role for the past six years.

The shift comes after the bank reported its first quarterly loss since 2008.

The bank has been in turmoil relative to peers for years. The economic fallout from the coronavirus pandemic only made matters worse.

“Overall there were not many positive data points to hang your hat on,” according to analysts. Advisor headcount, net interest income and assets were down.