Morgan Stanley is seeking regulatory approval to make financial advisors dual employees of its bank subsidiary in addition to the broker-dealer as the firm increases mortgage lending, a person briefed on the matter said.
The move would allow the advisors to get a national charter for mortgage lending rather than state registration, said the person, who asked not to be identified because a decision hasnt been made. That would allow them to originate mortgages for clients in multiple states without having to register in each state individually.
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