Former New York Gov. David Paterson is trying his hand at a new career: financial adviser.

But Paterson's foray into financial advice may already be off to a rocky start; his FINRA BrokerCheck record indicates that an SEC investigation was initiated in 2014.

"I have been notified by the SEC that, in connection with a board appointment I received, certain stock grants given me were not timely reported to the SEC," Paterson says, according to a short note on his BrokerCheck record.

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Mega moves: Biggest advisers to switch firms in 2016
The largest recruits so far this year managed more than $17 billion in client assets.

A team member answering the phone at Paterson's office referred questions to Stifel's press office; a company representative declined to comment. The SEC also did not respond immediately to requests for comment.

The longtime Democratic politician joined a team that oversees $2 billion in client assets and includes ex-New York Jets wide receiver Wayne Chrebet, according to Stifel.

Paterson, who earned his Series 7 in May and Series 63 last month, will serve as a director of investments with Stifel's Moldaver, Paterson, Lee and Chrebet Group in New York.

"He embodies a rare combination of skills, including a unique understanding of marketplace drivers and surrounding events," Ed Moldaver, managing director, said in a statement.

Former New York Governor David Paterson, left, has become a financial adviser at Stifel, joining a team that includes former New York Jets wide receiver Wayne Chrebet. (Images: Bloomberg News and Associated Press)

Paterson became New York's governor in 2008 following Gov. Elliot Spitzer's resignation in the wake of a prostitution scandal. Paterson opted not to run for re-election in 2010, and was succeeded by Gov. Andrew Cuomo.

Since leaving the governorship, Paterson did a stint as the chairman of the New York State Democratic Party and also served on the board of the Metropolitan Transportation Authority, which oversees a transportation network serving over 15 million people in New York and Connecticut.

In addition to Moldaver and Chrebet, the team also includes James Lee, director of investments. They previously worked at Barclays until the British bank sold its U.S. wealth management unit to Stifel last year.

Moldaver started his career in 1990, and has worked for several firms including Morgan Stanley, Bear Stearns and Fahnestock, according to FINRA BrokerCheck records. Lee joined him in 2000 when Moldaver was working at Josephthal.

Chrebet, a director of investments for the team, played 11 seasons for the Jets. He leads sports and entertainment initiatives for the team, according to Stifel. Chrebet started his financial advisory career in 2009 with Morgan Stanley, according to BrokerCheck records.

Other team members include vice presidents of client service Michael A. von Borsig and Mary Sliwa. She is the ex-wife of Curtis Sliwa, founder of the Guardian Angels anti-crime organization and a talk show regular. Mary Bennett is the group's registered client service associate.