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Read MoreFormer NFLPA Registered Financial Advisor Resigns After Allegations
Mark Panfil, a financial advisor who was registered with the NFLPA as recent as 2022, resigned from Morgan Stanley. His LinkedIn profile indicates that he was formerly a Director in Morgan Stanley’s Sports and Entertainment program.
According to his BrokerCheck report, Panfil had an “Employment Separation After Allegations” which was classified as a “Voluntary Resignation.” According to the report, “this type of disclosure event involves a situation where the broker voluntarily resigned, was discharged, or was permitted to resign after being accused of (1) violating investment-related statutes, regulations, rules or industry standards of conduct; (2) fraud or the wrongful taking of property; or (3) failure to supervise in connection with investment-related statutes, regulations, rules, or industry standards of conduct.”
A disclosure on Mr. Panfil’s BrokerCheck report describes his voluntary resignation in October 2022. According to the disclosure, he resigned in connection with “concerns” regarding the compensation of another employee outside of firm systems, without the knowledge or approval of firm management. It further states that he resigned in connection with “allegations made by a non-client of undisclosed outside business activities.” The disclosure provides no additional information about the underlying alleged conduct, though it does state that there was “no known customer harm.”
This all comes after Panfil and Morgan Stanley were named as Defendants in a lawsuit filed in Los Angeles by Reynaldo Spalding in 2019. Spalding claims that Panfil and others acted “individually and in partnership with one another sought to secure professional football players as clients.” The lawsuit goes on to describe an alleged arrangement:
In or around, 2016, House, Metcalf, Panfil, Morgan Stanley, Iridium and Thorium (collectively “Defendants”), individually and in partnership with one another sought to secure professional football players as clients. House and Iridium were to serve as the players’ agent, Metcalf and Thorium were to handle the marketing for clients, and Panfil and Morgan Stanley were to handle the prospective clients’ financial/wealth management. Based upon information and belief, this partnership was formed and financially backed by Panfil and Morgan Stanley.
In or about October, 2016, in furtherance of this partnership and their respective interests, Defendants approached and contracted with Plaintiff, who had been a former collegiate football player, and who had various contacts with up-and-coming football prospects. Pursuant to this contract, Plaintiff was to bring potential professional football clients/prospects for Defendants to sign up to service contracts.
Spalding claims the defendants breached their contract and brought a lawsuit to recover damages.
Mr. Panfil’s BrokerCheck report also discloses one investor complaint. Filed in 2006, it alleged that Wachovia Securities “failed to properly represent the client’s interests to his detriment” in connection with annuity investments. The complaint alleged damages of $25,000 and was denied by the firm.
Financial Industry Regulatory Authority records show that Panfil is currently a representative of Aegis Capital.
According to the Financial Industry Regulatory Authority, Mark Panfil holds 34 years of securities industry experience. Based in Rolling Hills Estates, California, he has been a broker and an investment advisor with Aegis Capital Corporation since October 2022. His past registrations include Morgan Stanley (El Segundo, California; 2016-2022), RBC Capital Markets (El Segundo, California; 2009-2016), Wachovia Securities (Rolling Hills Estates, California; 2003-2009), Prudential Securities (Rolling Hills Estates, California; 2003), Citigroup Global Markets (Rolling Hills Estates, California; 1997-2003), Lehman Brothers (New York, New York; 1990-1993), and Baraban Securities (Los Angeles, California; 1988-1990).
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